Intangible Assets, net |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, net |
In November 2020, the Company entered into a non-exclusive, royalty-free technology license agreement that required the Company to pay an upfront payment to the licensor of $2.1 million. The Company accounted for the transaction as an asset acquisition and recorded an intangible asset as it was determined to have alternative future uses in connection with the Company’s manufacturing capabilities. The following table presents the details of the Company’s intangible assets as of December 31, 2025 and 2024 (in thousands):
The intangible asset is being amortized over a period of seven years. Amortization expense of $0.3 million was recorded as a component of research and development expenses for each of the years ended December 31, 2025 and 2024, respectively. As of December 31, 2025, the expected amortization expense for the next two years is as follows (in thousands):
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