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Intangible Assets, Net (Tables) | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Recognized Intangible Assets | The following table summarizes our recognized intangible assets as a result of the arrangements described in the following sections:
| June 30, 2025 |  |  | December 31, 2024 |
| Weighted-average Estimated Useful Lives |  | Amount |  |  | Weighted-average Estimated Useful Lives |  | Amount |
|  |  | (in thousands) |  |  |  |  | (in thousands) |
Gross amount | 13.7 |  | $ | 39,400 |  |  | 10.0 years |  | $ | 32,500 |
Less: accumulated amortization |  |  |  | (9,887 | ) |  |  |  |  | (8,574 | )
Total |  |  | $ | 29,513 |  |  |  |  | $ | 23,926 |
The Company’s intangible assets primarily consist of acquired intellectual property rights, including patents and proprietary know-how, related to infigratinib, a compound targeting fibroblast growth factor receptor (“FGFR”). Following FDA approval of TRUSELTIQTM in May 2021, these assets were initially recognized in relation to milestone payments made totaling $32.5 million. While the FDA announced the withdrawal of the approval for TRUSELTIQTM in May 2023, the intellectual property is still being utilized in ongoing clinical investigations involving other FGFR-related diseases. In addition, as a result of the regulatory milestone achieved in February 2025 under the Bayer License Agreement (as defined below) and the regulatory milestone achieved in May 2025 under the Eidos-Alexion Agreement (as defined below), we incurred regulatory milestone fees payable to Leland Stanford Junior University (“Stanford University”) of $2.4 million and $6.9 million, respectively, during the three and six months ended June 30, 2025. We capitalized these license fees as finite-lived intangible assets and are amortizing them over their estimated useful lives on a straight-line basis. Refer to Notes 11 and 12 for definitions and details regarding the Bayer License Agreement, the Eidos-Alexion License Agreement, and the Stanford License Agreement, respectively.

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- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
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