XML 26 R13.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Intangible Assets, Net
3 Months Ended
Mar. 31, 2024
Intangible Assets, Net [Abstract]  
Intangible assets, net

5. Intangible assets, net

 

Major components of intangible assets as of March 31, 2024, are as follows (in thousands):

 

   Useful Lives  Cost   Accumulated
Amortization
   Total 
License agreements  20 years  $2,043   $(964)  $1,079 

Patent costs

      980    
-
    980 
Trademark costs      204    
-
    204 
Total     $3,227   $(964)  $2,263 

 

Major components of intangible assets as of December 31, 2023, are as follows:

 

   Useful Lives  Cost   Accumulated
Amortization
   Total 
License agreements  20 years  $2,043   $(909)  $1,134 
Patent costs      959    
-
    959 
Trademark costs      194    
-
    194 
Total     $3,196   $(909)  $2,287 

 

Amortization expense related to intangible assets amounted to approximately $0.1 million for each of the three-month periods ended March 31, 2024 and 2023.

 

Future amortization expense for intangible assets as of March 31, 2024 is as follows (in thousands):

 

Year Ending December 31,  Amount 
2024 (remaining nine months)  $168 
2025   224 
2026   224 
2027   224 
2028   224 
Thereafter   15 
Total  $1,079