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Intangible Assets | 12 Months Ended
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Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | NOTE 7 – INTANGIBLE ASSETS Intangible assets for IPR&D consist of two clinical product candidates from our acquisition of Ceregene. IPR&D is an intangible asset classified as indefinite-lived until the completion or abandonment of the associated research and development effort, and will be amortized over an estimated useful life to be determined at the date the project is completed. If the project is abandoned, the IPR&D will be expensed at the time such determination is made. The carrying values of these intangibles assets are as follows (in thousands):
|  | Year ended December 31, |
|  | 2015 |  |  | 2014 |
CERE-110 for the treatment of Alzheimer's disease |  | $ | — |  |  | $ | 1,640 |
CERE-120 for the treatment of Parkinson's disease |  |  | — |  |  |  | 230 |
Total identifiable intangible assets |  | $ | — |  |  | $ | 1,870 |
In the first quarter of 2015, the Company decided to discontinue the CERE-110 and CERE-120 clinical trial programs. As such, the probability of achieving projected revenues and cash flows associated with these programs were adversely affected. The Company does not believe the programs have an alternative future use for itself or other market participants. Accordingly, during the year ended December 31, 2015, the Company recognized a $1.9 million impairment charge related to these assets. The impairment is recorded in research and development expense in the accompanying condensed consolidated statements of operations.

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