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INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets, Net | Intangible Assets, Net consisted of the following:
| December 31,
| 2023 |  | 2022
Finite-lived intangible assets | $ | 710,011 |  |  | $ | 690,871 |
Accumulated amortization | (415,310) |  |  | (352,302) |
Net carrying value | $ | 294,701 |  |  | $ | 338,569 |
Schedule of Carrying Value and Estimated Remaining Life of Finite-Lived Intangible Assets | The following table summarizes the carrying value and estimated remaining life of the Company’s finite-lived intangible assets as of December 31, 2023:
| Net Balance |  | Average Remaining Life
Acquired intellectual property | $ | 185,344 |  |  | 4.4 years
Technology transfer | 89,221 |  |  | 4.4 years(1)
License payments (2) | 20,136 |  |  | 9.8 years
Total | $ | 294,701 |  |  |
(1)Certain technology transfer assets have not yet been placed into service. The average remaining life presented is only for those placed into service. (2)License payments include finite-lived intangible assets due to the Company's achievement in 2023 of first commercial sale milestones related to ROCTAVIAN.
Schedule of Estimated Future Amortization Expense | As of December 31, 2023, the estimated future amortization expense associated with the Company’s finite-lived intangible assets that have been placed into service, was as follows:
Fiscal Year |  | Amount
2024 |  | $ | 58,200 |
2025 |  | 38,924 |
2026 |  | 38,924 |
2027 |  | 38,924 |
2028 |  | 23,174 |
Thereafter |  | 7,293 |
|  | $ | 205,439 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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