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Intangible Assets, net
 9 Months Ended
Sep. 30, 2025
Intangible Assets, net [Abstract]  
Intangible Assets, net
Note 7
Intangible Assets, net:

Intangible assets consist of the following (in thousands):

September 30, 2025
  
Gross Carrying
Value
    
Accumulated
Amortization
    
Net Book Value
  
                   
Core technology
  
$
5,700
    
$
(5,700
)
  
$
—
  
Product technology
     4,808      
(4,072
)
     736  
Customer relationships
    
6,900
      
(6,900
)
    
—
  
Tradenames
    
1,500
      
(1,500
)
    
—
  
Pharos customer lists
    
5,314
      
(1,827
)
    
3,487
  
   
$
24,222
    
$
(19,999
)
  
$
4,223
  

December 31, 2024
  
Gross Carrying
Value
    
Accumulated
Amortization
    
Net Book Value
  
                   
Core technology
  
$
5,700
    
$
(5,415
)
  
$
285
  
Product technology
    
4,808
      
(3,984
)
    
824
  
Customer relationships
    
6,900
      
(6,555
)
    
345
  
Tradenames
    
1,500
      
(1,425
)
    
75
  
Pharos customer lists
    
5,314
      
(1,495
)
    
3,819
  
   
$
24,222
    
$
(18,874
)
  
$
5,348
  
The Company recorded amortization expense of $0.1 million and $0.5 million during the three months ended September 30, 2025 and 2024, respectively. The Company recorded amortization expense of $1.1 million and $1.5 million during the nine months ended September 30, 2025 and 2024, respectively.

Finite-lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset group may not be recoverable. The Company recognizes an impairment loss when and to the extent that the recoverable amount of an asset group is less than its carrying value. There were no impairment charges for the three and nine months ended September 30, 2025 or 2024.

Pursuant to the Theravant Settlement executed in October 2025 (see Note 16, Subsequent Events), the Company was released from all obligations related to contingent consideration and expects to write off the related product technology intangible asset, which had a net carrying value of $0.7 million as of September 30, 2025, in the fourth quarter of 2025.

The following table summarizes the estimated future amortization expense for the above intangible assets, excluding the product technology intangible asset expected to be written off in the next quarter, for the next five years (in thousands):

Remaining 2025
  
$
111
  
2026
  
$
 443
  
2027
  
$
 443
  
2028
  
$
 443
  
2029
  
$
 443