v3.26.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Amount of Indefinite-Lived Intangible Asset

The following table provides details of the carrying amount of the Company's indefinite-lived intangible asset (in thousands):

 

 

 

(in thousands)

 

In-process research and development:

 

 

 

Balance as of December 31, 2025

$

67,361

 

 

Impairment charges

 

(67,361

)

 

Balance as of March 31, 2026

$

 

Schedule of Carrying Amount of Finite-Lived Intangible Asset

The following table provides details of the carrying amount of the Company's finite-lived intangible asset (in thousands, except useful life):

 

 

 

 

 

As of March 31, 2026

 

 

As of December 31, 2025

 

 

 

Useful life

 

Cost

 

 

Accumulated Amortization

 

 

Net Carrying Value

 

 

Cost

 

 

Accumulated Amortization

 

 

Net Carrying Value

 

Finite life intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

21 years

 

$

460

 

 

 

(49

)

 

$

411

 

 

$

460

 

 

 

(26

)

 

$

434

 

 

Foreign currency translation adjustments

 

 

 

 

 

 

 

 

 

36

 

 

 

 

 

 

 

 

 

(8

)

 

Impairment charges

 

 

 

 

 

 

 

 

 

(447

)

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

$

426

 

In January 2026, the Company ceased clinical development of eDSP as the primary and secondary endpoints did not achieve statistical significance in its Phase 3 NEAT clinical trial (See Note 1). As a result, several of the assumptions used in determining the initial fair value have changed including expected cash flows and thus triggered the need for an interim impairment assessment as required under ASC 350. As a result, the fair value was determined to be significantly below its carrying value and the Company recognized a total impairment charge of $67.8 million for for indefinite and finite-lived intangible assets the three months ended March 31, 2026.