Intangible assets with finite lives consist primarily of patents, technological know-how, computer software, and technology rights. Technology rights refer to the intellectual property (“IP”) associated with EtorelTM (nintedanib, ethanesulfonate soft capsules) (the “EtorelTM IP Rights”), which were obtained upon the successful transfer of the marketing authorization holder following approval by the PRC National Medical Products Administration (the “NMPA”) in March 2025, and the commercial sales of EtorelTM commenced in June 2025. As of June 30, 2026, the Company recognized the total consideration for the EtorelTM technology rights in the amount of RMB 35.0 million, or approximately $5.1 million, based on the June 30, 2026 spot exchange rate.

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2026 and December 31, 2025 were as follows (in thousands):


	June 30, 2026
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	447	$	(348	)	$	99
Computer software		352		(209	)		143
Technology rights		5,139		(856	)		4,283
Total intangible assets	$	5,938	$	(1,413	)	$	4,525


	December 31, 2025 (As Recast)
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	433	$	(328	)	$	105
Computer software		337		(176	)		161
Technology rights		4,980		(519	)		4,461
Total intangible assets	$	5,750	$	(1,023	)	$	4,727

Intangible assets are carried at cost less accumulated amortization and impairment, if applicable, and the amortization expense is recorded in operating expenses. The weighted average amortization period for the intangible assets was 6.5 years as of June 30, 2026, compared to 7.0 years as of December 31, 2025.

Amortization expense was $179 thousand and $167 thousand for the three months ended June 30, 2026 and 2025, respectively. Amortization expense was $354 thousand and $234 thousand for the six months ended June 30, 2026 and 2025, respectively. Based on finite-lived intangible assets recorded as of June 30, 2026, the estimated future amortization expense is as follows (in thousands):


	Estimated amortization expense
2026	$	358
2027		713
2028		683
2029		681
2030		670
Thereafter		1,420
Total	$	4,525