Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.20.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
INTANGIBLE ASSETS
Intangible assets consist of the following as of December 31, 2019 and 2018 (in thousands):
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Useful Life (Years)
Balance - December 31, 2019:
 
 
 
 
 
 
 
In-process research and development
$
3,730

 
$
—

 
$
3,730

 
—
Trade names
100

 
80

 
20

 
5
Non-compete agreements
77

 
61

 
16

 
5
 
$
3,907

 
$
141

 
$
3,766

 
 
 
 
 
 
 
 
 
 
Balance - December 31, 2018:
 
 
 
 
 
 
 
In-process research and development
$
3,730

 
$
—

 
$
3,730

 
—
Trade names
100

 
60

 
40

 
5
Non-compete agreements
77

 
46

 
31

 
5
 
$
3,907

 
$
106

 
$
3,801

 
 

The Company did not incur costs to renew or extend the term of acquired intangible assets for the years ended December 31, 2019 and 2018. Amortization expense for intangible assets was $35 thousand for the years ended December 31, 2019 and 2018. The Company expects future amortization expense of $36 thousand for the year ending December 31, 2020.