Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.20.4
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
Intangible assets consist of the following as of December 31, 2020 and 2019 (in thousands):
Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Life (Years)
Balance - December 31, 2020:
In-process research and development $ 3,730  $ —  $ 3,730  —
Trade names 100  100  —  5
Non-compete agreements 77  77  —  5
$ 3,907  $ 177  $ 3,730 
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 
The Company did not incur costs to renew or extend the term of acquired intangible assets for the years ended December 31, 2020 and 2019. Amortization expense for intangible assets was $36 thousand and $35 thousand for the years ended December 31, 2020 and 2019, respectively. There is no future amortization expense.