v3.26.1
Intangible Assets, Net
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible Assets, Net Intangible Assets, Net
The following table presents the components of the Company’s intangible assets, net ($ in thousands):
June 30, 2026December 31, 2025
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Finite-lived intangible assets
Commercial products (i)96,523 (11,511)85,012 83,203 (8,056)75,147 
Software4,576 (3,814)762 4,461 (3,464)997 
Total101,099 (15,325)85,774 87,664 (11,520)76,144 
(i) The increase in the net carrying value is primarily driven by $10.0 million of regulatory milestone fees for Tisotumab Vedotin (see Note 14).
Intangible assets for commercial products include capitalized post-approval milestone fees and acquired commercial manufacturing know-how and related development costs. The Company is amortizing intangible assets for commercial products as cost of product revenue over the estimated remaining useful life of the related products. Intangible assets for externally purchased software are amortized over three to five years on a straight-line basis.
Amortization expense was $1.8 million and $3.4 million in the three and six months ended June 30, 2026, respectively, and $1.5 million and $2.9 million in the three and six months ended June 30, 2025, respectively. The weighted-average remaining amortization period for intangible assets for commercial products and software was 8.7 years and 2.0 years, respectively.