|
|
|
September 30, |
|
|
December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
IPR&D intangible assets: |
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
101,500 |
|
|
$ |
212,900 |
|
|
Impairment of intangible asset (a) |
|
|
(104,517 |
) |
|
|
(89,557 |
) |
|
Change in foreign currency gains (losses) |
|
|
3,017 |
|
|
|
(21,843 |
) |
|
Balance at end of period |
|
$ |
— |
|
|
$ |
101,500 |
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill: |
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
59,327 |
|
|
$ |
66,055 |
|
|
Change in foreign currency gains (losses) |
|
|
1,421 |
|
|
|
(6,728 |
) |
|
Balance at end of period |
|
$ |
60,748 |
|
|
$ |
59,327 |
|
|
|
(a) |
During the second quarter of 2016, we recorded a $104.5 million impairment charge due to our and our development partner’s decision to discontinue the development of lucitanib for breast cancer. At September 30, 2016, the IPR&D intangible asset recorded on the Consolidated Balance Sheets was zero. |
During the fourth quarter of 2015, we recorded an $89.6 million impairment charge due to our and our development partner’s decision to discontinue the development of lucitanib for lung cancer, as well as updates to the probability-weighted discounted cash flow assumptions for the breast cancer indication.
|