7. Intangible Assets, Net Intangible assets as of December 31, 2025 and 2024 consisted of the following (in thousands): | | | | | | | | | | | December 31 | | December 31, | | Estimated | | | 2025 | | 2024 | | Useful Life | In-process research and development | | $ | 1,292 | | $ | 1,292 | | Indefinite | License | | | 46,630 | | | — | | Indefinite | Trade names | | | 3,156 | | | — | | 10 years | Accumulated amortization | | | (59) | | | — | | | Trade names net carrying value | | | 3,097 | | | — | | | Customer relationships | | | 2,274 | | | — | | 4 years | Accumulated amortization | | | (105) | | | — | | | Customer relationships net carrying value | | | 2,169 | | | — | | | Total intangible assets, net | | $ | 53,188 | | $ | 1,292 | | |
As of December 31, 2025, the Company’s estimate of amortization for finite-lived intangibles for each of the five succeeding fiscal years and thereafter was as follows: | | | | Year ended December 31, 2026 | | $ | 884 | Year ended December 31, 2027 | | | 884 | Year ended December 31, 2028 | | | 884 | Year ended December 31, 2029 | | | 779 | Year ended December 31, 2030 | | | 316 | Thereafter | | | 1,519 | | | $ | 5,266 |
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