Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

5. Intangible Assets, Net

Major components of intangible assets as of December 31, 2024 are as follows (in thousands):


	Useful Lives	Cost		Accumulated Amortization			Total
License agreements	20 years	$	2,043	$	(1,132	)	$	911
Patent costs			1,273		—			1,273
Trademark costs			217		—			217
Total		$	3,533	$	(1,132	)	$	2,401

Major components of intangible assets as of December 31, 2023, are as follows (in thousands):


	Useful Lives	Cost		Accumulated Amortization			Total
License agreements	20 years	$	2,043	$	(909	)	$	1,134
Patent costs			959	–				959
Trademark costs			194	–				194
Total		$	3,196	$	(909	)	$	2,287

Amortization expense related to intangible assets amounted to approximately $0.2 million for the years ended December 31, 2024 and 2023. During the year ended December 31, 2024 and 2023, the Company wrote-off $0 million and $0.3 million, respectively, of abandoned patents that it was no longer pursuing in several jurisdictions.

Future amortization expense for intangible assets as of December 31, 2024 is approximately as follows (in thousands):


Year Ending December 31,	Amount
2025	$	224
2026		102
2027		61
2028		61
2029		61
Thereafter		402
Total	$	911