Goodwill and Intangibles

9 Months Ended

Sep. 30, 2023

Goodwill and Intangibles

Goodwill and Intangibles

5. Goodwill and Intangibles

The following table provides the Company’s Goodwill as of September 30, 2023.

	Goodwill (in thousands)
Balance at December 31, 2022	$	5,525
Effects of exchange rates		(65)
Balance at September 30, 2023	$	5,460

The following table provides the Company’s in-process R&D as of September 30, 2023.

	In-process
	R&D (in thousands)
Balance at December 31, 2022	$	19,150
Effects of exchange rates		(225)
Balance at September 30, 2023	$	18,925

During the quarters ended September 30, 2023 and December 31, 2022, the Company experienced a sustained decline in the quoted market price of the Company’s common stock and the Company deemed this to be a triggering event for impairment. The Company performed an impairment analysis and concluded that the Goodwill and IPR&D were not impaired as of September 30, 2023 and December 31, 2022.