Intangible Assets

6 Months Ended

Jun. 30, 2023

Intangible Assets

Intangible Assets

Note 6. Intangible Assets

The following table summarizes the Company’s intangible assets as of June 30, 2023:

	Estimated Useful Life in Years		Gross Carrying Amount at January 9, 2023		Accumulated Amortization			Net Book Value at June 30, 2023
Developed technology – VIVO		15	$	8,244	$	(275	)	$	7,969
Developed technology – LockeT		14		18,770		(670	)		18,100
Customer relationships		6		62		(5	)		57
Trademarks/trade names – VIVO		9		876		(49	)		827
Trademarks/trade names – LockeT		9		409		(23	)		386
			$	28,361	$	(1,022	)	$	27,339

As of December 31, 2022, the Company did not have any intangible assets.

The Company uses the straight-line method to determine the amortization expense for its definite lived intangible assets. Amortization expense, included within selling, general and administrative expenses, relating to the purchased intangible assets was $0.5 million and $1.0 million for the three and six months ended June 30, 2023, respectively. There was no amortization expense of intangible assets for the three and six months ended June 30, 2022.