Goodwill and In-Process Research and Development |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and In-Process Research and Development |
5. Goodwill and In-Process Research and Development
A reconciliation of the beginning and ending goodwill for the years ended December 31, 2019 and 2018 is as follows (in thousands):
At December 31, 2018, the Company had goodwill of 65,195,000. On November 30, 2019 the Company performed its annual impairment test and determined the fair value of its reporting unit, measured by the Company’s Nasdaq market capitalization and an income approach analysis, exceeded the carrying value by $46,103; therefore, management considered goodwill to be impaired.
A reconciliation of the beginning and ending in-process research and development intangible assets for the years ended December 31, 2019 and 2018 is as follows (in thousands):
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