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Licensed Rights and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Licensed Rights and Other Intangible Assets [Abstract] |
Licensed rights and other intangible assets | 4. Licensed rights and other intangible assets The following provides information about our license rights and other intangible assets, net as of June 30, 2024 and December 31, 2023 (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hormone therapy drug patents |  | $ | 5,753 |  |  | $ | 1,862 |  |  | $ | 3,891 |  |  | $ | 6,818 |  |  | $ | 1,871 |  |  | $ | 4,947 |
Hormone therapy drug patents applied and pending approval |  |  | 324 |  |  |  | — |  |  |  | 324 |  |  |  | 842 |  |  |  | — |  |  |  | 842 |
Intangible assets subject to amortization |  |  | 6,077 |  |  |  | 1,862 |  |  |  | 4,215 |  |  |  | 7,660 |  |  |  | 1,871 |  |  |  | 5,789 |
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks/trade name rights |  |  | 309 |  |  |  | — |  |  |  | 309 |  |  |  | 309 |  |  |  | — |  |  |  | 309 |
License rights and other intangible assets, net |  | $ | 6,386 |  |  | $ | 1,862 |  |  | $ | 4,524 |  |  | $ | 7,969 |  |  | $ | 1,871 |  |  | $ | 6,098 |
We recorded, in continuing operations, amortization expense related to patents of $180 thousand and $19 thousand for the three months ended June 30, 2024 and 2023, respectively, and $313 thousand and $39 thousand for the six months ended June 30, 2024 and 2023, respectively. The Company conducts regular reviews of the individual patents and portfolios. As a result of this review, also based on input from its licensing partners, for the six months ended June 30, 2024, the Company determined it had an indicator of impairment, as it had abandoned the legal right and title to a portion of its granted patent portfolio and had ceased pursuit of a portion of its pending patents based on input from its licensing partners. The Company recognized an impairment loss of $1,261 thousand related to those abandoned patents and applications, which is classified as an impairment of long-lived assets on the Company’s consolidated statements of operations. Our intangible assets subject to amortization are expected to be amortized as follows (in thousands):
Year ending December 31,
2024 |  | $ | 192 |
2025 |  |  | 384 |
2026 |  |  | 384 |
2027 |  |  | 384 |
2028 |  |  | 384 |
Thereafter |  |  | 2,163 |
Total |  | $ | 3,891 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
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