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Intangible assets and goodwill | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible assets and goodwill | 12. Intangible assets and goodwill Definite-lived intangibles Definite-lived intangible assets consisted of the following at March 31, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Ending Balance at | ​ | ​ | ​ | ​ | ​ | Foreign | ​ | ​ | Ending Balance at | ​ | ​
Definite-lived | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | currency | ​ | ​ | March 31, | ​ | ​
intangibles assets, gross |  | ​ | 2023 |  | ​ | Additions |  | ​ | translation |  | ​ | 2024 | ​ | ​
Emflaza | ​ | $ | 527,417 | ​ | $ | — | ​ | $ | — | ​ | $ | 527,417 | ​ | ​
Waylivra | ​ | ​ | 10,218 | ​ | ​ | 1,658 | ​ | ​ | (246) | ​ | ​ | 11,630 | ​ | ​
Tegsedi | ​ | ​ | 13,322 | ​ | ​ | 792 | ​ | ​ | (320) | ​ | ​ | 13,794 | ​ | ​
Upstaza | ​ | ​ | 89,550 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 89,550 | ​ | ​
Total definite-lived intangibles, gross | ​ | $ | 640,507 | ​ | $ | 2,450 | ​ | $ | (566) | ​ | $ | 642,391 | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Ending Balance at | ​ | ​ | ​ | ​ | ​ | Foreign | ​ | ​ | Ending Balance at
Definite-lived | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | currency | ​ | ​ | March 31,
intangibles assets, accumulated amortization |  | ​ | 2023 |  | ​ | Amortization |  | ​ | translation |  | ​ | 2024
Emflaza | ​ | $ | (478,618) | ​ | $ | (48,799) | ​ | $ | — | ​ | $ | (527,417)
Waylivra | ​ | ​ | (3,965) | ​ | ​ | (366) | ​ | ​ | 106 | ​ | ​ | (4,225)
Tegsedi | ​ | ​ | (3,311) | ​ | ​ | (499) | ​ | ​ | 83 | ​ | ​ | (3,727)
Upstaza | ​ | ​ | (10,882) | ​ | ​ | (1,866) | ​ | ​ | — | ​ | ​ | (12,748)
Total definite-lived intangibles, accumulated amortization | ​ | $ | (496,776) | ​ | $ | (51,530) | ​ | $ | 189 | ​ | $ | (548,117)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total definite-lived intangibles, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 94,274
​ Marathon is entitled to receive contingent payments from the Company based on annual net sales of Emflaza beginning in 2018, up to a specified aggregate maximum amount over the expected commercial life of the asset, which expired February 2024. In accordance with the guidance for an asset acquisition, the Company recorded the milestone payments when they became payable to Marathon and increased the cost basis for the Emflaza rights intangible asset. As of March 31, 2024, the Emflaza rights intangible asset was fully amortized, therefore for the three months ended March 31, 2024, the milestone payment was recorded on the consolidated statement of operations within cost of product sales, excluding amortization of acquired intangible assets. Akcea is also entitled to receive royalty payments subject to certain terms set forth in the Tegsedi-Waylivra Agreement related to sales of Waylivra and Tegsedi. In accordance with the guidance for an asset acquisition, the Company records royalty payments when they become payable to Akcea and increase the cost basis for the Waylivra and Tegsedi intangible assets. For the three months ended March 31, 2024, royalty payments of $0.8 million and $1.7 million were recorded for Tegsedi and Waylivra, respectively. As of March 31, 2024, a royalty payable of $0.8 million and $1.6 million for Tegsedi and Waylivra, respectively, was recorded on the consolidated balance sheet within accounts payable and accrued expenses. For the three months ended March 31, 2024 and 2023, the Company recognized amortization expense of $51.5 million and $39.4 million, respectively, related to the Emflaza rights, Upstaza, Waylivra, and Tegsedi intangible assets. The estimated future amortization of the Upstaza, Waylivra, and Tegsedi intangible assets is expected to be as follows: ​
​ | ​ | ​ | ​
​ |  | As of March 31, 2024
2024 | ​ | $ | 8,182
2025 | ​ |  | 10,898
2026 | ​ |  | 10,898
2027 | ​ |  | 10,898
2028 and thereafter | ​ |  | 53,398
Total | ​ | $ | 94,274
​ The weighted average remaining amortization period of the definite-lived intangibles as of March 31, 2024 is 9.4 years. Indefinite-lived intangibles Indefinite-lived intangible assets consisted of the following at March 31, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Ending Balance at | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Ending Balance at | ​
Indefinite-lived | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | March 31, | ​
intangibles assets |  | ​ | 2023 |  | ​ | Additions |  | ​ | Impairment |  | ​ | 2024 |
Upstaza | ​ | $ | 235,766 | ​ | $ | — | ​ | $ | — | ​ | $ | 235,766 | ​
Total indefinite-lived intangibles | ​ | $ | 235,766 | ​ | $ | — | ​ | $ | — | ​ | $ | 235,766 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total intangible assets, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 330,040 | ​
​ In connection with the acquisition of the Company’s gene therapy platform from Agilis, the Company acquired rights to Upstaza, for the treatment of AADC deficiency. AADC deficiency is a rare CNS disorder arising from reductions in the enzyme AADC that result from mutations in the dopa decarboxylase gene. In accordance with the acquisition method of accounting, the Company allocated the acquisition cost for the Agilis Merger to the underlying assets acquired and liabilities assumed, based upon the estimated fair values of those assets and liabilities at the date of acquisition. The Company classified the fair value of the acquired IPR&D as indefinite lived intangible assets until the successful completion or abandonment of the associated research and development efforts. There have been no changes to the indefinite lived intangible assets balance since the year ended December 31, 2023. Accordingly, the indefinite lived intangible asset balance as of March 31, 2024 is $235.8 million. Goodwill As a result of the Agilis Merger on August 23, 2018, the Company recorded $82.3 million of goodwill. As of March 31, 2024, there have been no changes to the balance of goodwill since the date of the Agilis Merger. Accordingly, the goodwill balance as of March 31, 2024 is $82.3 million.

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