Goodwill and Intangibles

12 Months Ended

Dec. 31, 2023

Goodwill and Intangibles

Goodwill and Intangibles

6. Goodwill and Intangibles

The following table provides the Company’s Goodwill as of December 31, 2023.

	Goodwill (in thousands)
Balance at December 31, 2022	$	5,525
Effects of exchange rates		175
Balance at December 31, 2023	$	5,700

The following table provides the Company’s in-process R&D as of December 31, 2023.

	In-process
	R&D (in thousands)
Balance at December 31, 2022	$	19,150
Effects of exchange rates		605
Balance at December 31, 2023	$	19,755

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 interim impairment analysis and concluded that the Goodwill and IPR&D were not impaired as of September 30, 2023. This interim analysis also satisfied the requirements of the annual impairment test. There were no impairment charges recorded during 2023 and 2022.