Intangible Assets, Net |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets, Net | Intangible Assets, Net The following table summarizes the carrying amount of the Company's intangible assets, net of accumulated amortization (in thousands):
Amortization expense for the three months ended June 30, 2026 and 2025 was $0.5 million and $0.3 million, respectively, and for the six months ended June 30, 2026 and 2025 was $1.0 million and $0.6 million, respectively. The estimated annual amortization expense related to this asset is $1.9 million for each of the five years ending in 2031. On July 18, 2025, the Company was notified by the European Commission that the Company has been granted marketing approval for AUCATZYL (obecabtagene autoleucel) for the treatment of adult patients (26 years and older) with r/r B-ALL, which triggered a £6.0 million regulatory milestone payment that was paid by the Company to UCL Business Ltd (“UCLB”) in the third quarter of 2025, pursuant to a certain exclusive license agreement, as amended (the “UCLB License Agreement”). This milestone payment was capitalized as an intangible assets and amortized over the remaining useful life of the patent.
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