Intangibles, Net and Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

6. Intangibles, Net and Goodwill

Intangibles, Net

Finite-lived Intangible Assets

As of December 31, 2023, the Company's finite-lived intangible assets consisted of acquired ARIKAYCE R&D and the milestones paid to PARI for the license to use Lamira for the delivery of ARIKAYCE to patients as a result of the FDA and EC approvals of ARIKAYCE in September 2018 and October 2020, respectively. The Company began amortizing its acquired ARIKAYCE R&D and PARI milestones intangible assets in October 2018, over ARIKAYCE's initial regulatory exclusivity period of 12 years. Amortization of these assets during each of the next five years is estimated to be approximately $5.1 million per year.

Indefinite-lived Intangible Assets

As of December 31, 2023, the Company's indefinite-lived intangible assets consisted of acquired IPR&D from the Business Acquisition (see Note 18). Indefinite-lived intangible assets are not amortized.

A rollforward of the Company's intangible assets for the years ended December 31, 2023 and 2022 follows (in thousands):



	2023
Intangible Asset	January 1,		Additions		Amortization		December 31,
Acquired ARIKAYCE R&D	$	37,588	$	—	$	(4,850)	$	32,738
Acquired IPR&D	29,600		—		—		29,600
PARI milestones	1,568		—		(202)		1,366
	$	68,756	$	—	$	(5,052)	$	63,704

	2022
Intangible Asset	January 1,		Additions		Amortization		December 31,
Acquired ARIKAYCE R&D	$	42,439	$	—	$	(4,851)	$	37,588
Acquired IPR&D	29,600		—		—		29,600
PARI milestones	1,770		—		(202)		1,568
	$	73,809	$	—	$	(5,053)	$	68,756

Goodwill

The Company's goodwill balance of $136.1 million as of December 31, 2023 and 2022 resulted from the August 2021 Business Acquisition (see Note 18).