Intangible assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following:


	December 31, 2024						December 31, 2025
	Gross carrying amount		Accumulated amortization		Net book value		Gross carrying amount		Accumulated amortization		Net book value
License	$	38,433	$	29,111	$	9,322	$	16,620	$	8,968	$	7,652
Technology	52,700		19,909		32,791		52,700		21,971		30,729
	$	91,133	$	49,020	$	42,113	$	69,320	$	30,939	$	38,381

Amortization expense related to intangible assets for the years ended December 31, 2023, 2024 and 2025 was $11.6 million, $14.3 million and $3.7 million, respectively.

For the year ended December 31, 2024, the Company recorded a full impairment charge of the carrying value of $32.0 million (or $23.3 million, net of deferred income tax) associated with the IPR&D acquired through the 2021 acquisition of TetraGenetics and a full impairment charge of the carrying value of $32.0 million (or $23.3 million, net of deferred income tax) associated with the IPR&D acquired through the 2020 acquisition of Trianni. Details of a corresponding impact reducing the contingent consideration associated with the TetraGenetics acquisition are disclosed in Note 15.

The impairment charges were due to our ongoing internal program prioritization which also resulted in the discontinuance of the development of next-generation transgenic mice. Depreciation and amortization expense and impairment charges are reflected within depreciation, amortization, and impairment expense on the consolidated statements of loss and comprehensive loss.

Amortization expense on intangible assets subject to amortization is estimated to be as follows for each of the next five years ended December 31:


	Amortization Expense
2026	$	3,732
2027	3,732
2028	3,732
2029	3,732
2030	2,632
	$	17,560