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Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

6.Intangible assets and goodwill

Intangible assets, net

Intangible assets, net consisted of the following as of March 31, 2025:

		Gross value				Accumulated amortization				Net book value				Weighted- average remaining useful life
		(in thousands)												(in years)
In-process research and development — RAS Programs		$	55,800			$	—			$	55,800			n/a
Developed technology — tri-complex platform			7,480				(6,877	)			603				0.6
Total		$	63,280			$	(6,877	)		$	56,403

Amortization expense for the three months ended March 31, 2025 and 2024 was $0.3 million.

As of March 31, 2025, future amortization expense was as follows:

		Amount
		(in thousands)
2025 (remaining seven months)		$	603
Total		$	603

Intangible assets, net consisted of the following as of December 31, 2024:

		Gross value				Accumulated amortization				Net book value				Weighted- average remaining useful life
		(in thousands)												(in years)
In-process research and development — RAS Programs		$	55,800			$	—			$	55,800			n/a
Developed technology — tri-complex platform			7,480				(6,610	)			870				0.9
Total		$	63,280			$	(6,610	)		$	56,670

Goodwill

The following summarizes the change in the carrying value of goodwill for the three months ended March 31, 2025:

		Amount
		(in thousands)
Balance at December 31, 2024		$	14,608
Adjustment			—
Balance at March 31, 2025		$	14,608

No impairment had been recognized as of March 31, 2025. Goodwill recorded is not deductible for income tax purposes.

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- References

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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