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Goodwill and Intangibles | 12 Months Ended
--- | ---
Dec. 31, 2024
Goodwill and Intangibles |
Goodwill and Intangibles | 4. Goodwill and Intangibles The following table provides the Company’s Goodwill as of December 31, 2024. ​
​ | ​ | ​ | ​
​ |  | Goodwill (in thousands)
Balance at December 31, 2023 | ​ | $ | 5,700
Goodwill impairment | ​ |  | (5,594)
Effects of exchange rates | ​ |  | (106)
Balance at September December 31, 2024 | ​ | $ | —
​ The following table provides the Company’s in-process R&D as of December 31, 2024. ​
​ | ​ | ​ | ​
​ | ​ | In-process
​ |  | R&D (in thousands)
Balance at December 31, 2023 | ​ | $ | 19,755
In-process R&D impairment | ​ |  | (1,325)
Effects of exchange rates | ​ |  | (1,072)
Balance at December 31, 2024 | ​ | $ | 17,358
​ During the quarters ended June 30, 2024 and September 30, 2024, the Company experienced a sustained decline in the quoted market price of the Company’s Common Stock and the Company deemed this to be a triggering event for impairment. The Company performed an interim impairment analysis using both the replacement cost method and the “Income approach” that requires significant judgments, including primarily the estimation of future development costs, the probability of success in various phases of its development programs, potential post-launch cash flows and a risk-adjusted weighted average cost of capital. ​ 4. Goodwill and Intangibles – (continued) For the quarter ended June 30, 2024, the Company concluded that goodwill with a carrying value of $5.6 million was written down to its estimated fair value of $1.5 million and an impairment charge of $4.1 million was recorded during the quarter ended June 30, 2024. For the quarter ended September 30, 2024 the Company concluded that goodwill with a carrying value of $1.5 million was impaired and was written down to its estimated fair value of zero and an impairment charge of $1.5 million was recorded. This interim analysis satisfied the requirements of the annual impairment test as the same information would be required for both measurement dates. There were no impairment charges recorded for the year ended December 31, 2023. ​ For the quarter ended June 30, 2024 the Company concluded that the IPR&D was not impaired however, for the quarter ended September 30, 2024, the Company concluded that the in-process R&D with a carrying value of $19.8 million was impaired and was written down to its estimated fair value of $18.6 million and an impairment charge of $1.3 million was recorded. This interim analysis satisfied the requirements of the annual impairment test as the same information would be required for both measurement dates. There were no impairment charges recorded for the year ended December 31, 2023.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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