XML 28 R20.htm IDEA: XBRL DOCUMENT
v3.25.3

Goodwill and Intangibles, Net | 9 Months Ended
--- | ---
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles, Net | 11. Goodwill and Intangibles, Net Goodwill The following table represents the change in the carrying value of goodwill for the nine months ended September 30, 2025:
(in thousands) |  | Amount |
Balance at January 1, 2025 |  | $ | 61,189 |
Acquisition of Evergreen |  | $ | 116,221 |
Acquisition of Life Molecular |  | $ | 64,464 |
Reclassification to assets held for sale(1) |  | $ | (2,138 | )
Foreign currency translation adjustments |  | $ | 592 |
Balance at September 30, 2025 |  | $ | 240,328 |
(1) Amounts reclassified to assets held for sale as a result of the pending sale of the assets and liabilities associated with the Company’s SPECT business. See Note 8, “Assets and Liabilities Held for Sale”, for more information. Intangibles, net, consisted of the following:
|  | September 30, 2025 |
(in thousands) |  | Useful Lives (in years) |  | Amortization Method |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Amortizable: |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | 25 |  | Straight-line |  | $ | 13,540 |  |  | $ | (12,473 | ) |  | $ | 1,067 |
Customer relationships |  | 5 |  | Accelerated |  |  | 102,908 |  |  |  | (88,781 | ) |  |  | 14,127 |
Currently marketed products |  | 9 - 10.5 |  | Straight-line |  |  | 492,800 |  |  |  | (70,788 | ) |  |  | 422,012 |
Licenses |  | 13 - 16 |  | Straight-line |  |  | 22,233 |  |  |  | (13,926 | ) |  |  | 8,307 |
Developed technology |  | 7 - 9 |  | Straight-line |  |  | 55,982 |  |  |  | (11,231 | ) |  |  | 44,751 |
Total amortizable intangibles |  |  |  |  |  |  | 687,463 |  |  |  | (197,199 | ) |  |  | 490,264 |
Non-amortizable: |  |  |  |  |  |  |  |  |  |  |  |  |
In-process research and development |  | Indefinite |  |  |  |  | 249,000 |  |  |  | — |  |  |  | 249,000 |
Total intangibles, net |  |  |  |  |  | $ | 936,463 |  |  | $ | (197,199 | ) |  | $ | 739,264 |
|  | December 31, 2024 |
(in thousands) |  | Useful Lives (in years) |  | Amortization Method |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Trademarks |  | 15 - 25 |  | Straight-line |  | $ | 13,540 |  |  | $ | (12,363 | ) |  | $ | 1,177 |
Customer relationships |  | 15 - 25 |  | Accelerated |  |  | 157,742 |  |  |  | (136,647 | ) |  |  | 21,095 |
Currently marketed products |  | 9 -15 |  | Straight-line |  |  | 132,800 |  |  |  | (53,033 | ) |  |  | 79,767 |
Licenses |  | 11 - 16 |  | Straight-line |  |  | 22,233 |  |  |  | (13,203 | ) |  |  | 9,030 |
Developed technology |  | 7 - 9 |  | Straight-line |  |  | 55,982 |  |  |  | (5,290 | ) |  |  | 50,692 |
Total intangibles, net |  |  |  |  |  | $ | 382,297 |  |  | $ | (220,536 | ) |  | $ | 161,761 |
The Company recorded amortization expense for its intangible assets of $14.6 million and $11.9 million for the three months ended September 30, 2025 and 2024, respectively and $30.6 million and $32.0 million for the nine months ended September 30, 2025 and 2024, respectively. On August 2, 2023, the Company sold the right to its RELISTOR royalty asset under its license agreement with Bausch Health Companies, Inc.; the Company retained the rights to future sales-based milestone payments. The Company received an initial payment of approximately $98.0 million in connection with the sale and has the right to receive an additional payment from the buyer of $5.0 million, if worldwide net sales of RELISTOR in 2025 exceed specified thresholds. No sales-based milestone payment was earned in the three and nine months ended September 30, 2025. In the first quarter of 2024, the Company discontinued the production and promotion of AZEDRA and no AZEDRA was manufactured after March 1, 2024, when the Company transferred the tangible assets and associated lease of its Somerset Facility to Perspective. See Note 7, “Property, Plant and Equipment, Net” for impairment analysis. In June 2024, the Company entered into an agreement with the stockholders of Meilleur (“Meilleur Stockholders”) to purchase all of the outstanding capital stock of Meilleur (which holds the rights under a license agreement to develop and commercialize NAV-4694) for approximately $32.9 million. The Company recorded a developed technology intangible asset of $40.3 million as a result of the purchase price and the specific assets and liabilities of Meilleur that were acquired as part of the asset acquisition based on their value at the agreed upon closing date. In August 2024, upon successful completion of a technology transfer, the Company paid $10.0 million to the Meilleur Stockholders. This additional contingent payment was capitalized as part of the asset cost and increased the total value of the Company’s developed technology intangible assets. See Note 18, “Acquisitions” for further discussion of the Meilleur acquisition. The below table summarizes the estimated aggregate amortization expense expected to be recognized on the above intangible assets:
(in thousands) |  | Amount |
Remainder of 2025 |  | $ | 16,521 |
2026 |  |  | 66,891 |
2027 |  |  | 61,380 |
2028 |  |  | 58,074 |
2029 |  |  | 57,930 |
2030 and thereafter |  |  | 229,468 |
Total |  | $ | 490,264 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration