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Intangible Assets
 9 Months Ended
Sep. 30, 2023
Intangible Assets  
Intangible Assets

Note 6. Intangible Assets

 

The following table summarizes the Company’s intangible assets as of September 30, 2023:

 

 

 

Estimated Useful

Life in Years

 

 

Gross Carrying Amount at

January 9, 2023

 

 

Accumulated Amortization

 

 

Net Book Value at

September 30, 2023

 

Developed technology - VIVO

 

 

15

 

 

$8,244

 

 

$(412)

 

$7,832

 

Developed technology - LockeT

 

 

14

 

 

 

18,770

 

 

 

(1,006)

 

 

17,764

 

Customer relationships

 

 

6

 

 

 

62

 

 

 

(8)

 

 

54

 

Trademarks/trade names - VIVO

 

 

9

 

 

 

876

 

 

 

(73)

 

 

803

 

Trademarks/trade names - LockeT

 

 

9

 

 

 

409

 

 

 

(34)

 

 

375

 

 

 

 

 

 

 

$28,361

 

 

$(1,533)

 

$26,828

 

 

As of December 31, 2022, the Company did not have any intangible assets.

 

The Company uses the straight-line method to determine the amortization expense for its definite lived intangible assets. Amortization expense, included within selling, general and administrative expenses, relating to the purchased intangible assets was $0.5 million and 1.5 million for the three and nine months ended September 30, 2023, respectively. There was no amortization expense of intangible assets for the three and nine months ended September 30, 2022.