Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 459

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 9A
Chunk 459
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        $
        227,154

       For the years ended December 31, 2024, 2023 and 2022, depreciation expense totaled $42.7 million, $42.5 million, and $40.0 million, respectively. 

11. INTANGIBLE ASSETS, NETThe following table summarizes the components of the Company’s intangible assets for each of the periods indicated: 

        As of December 31,

        2024

        2023

        (in thousands)

        In-licensed rights
         
        $
        32,673

        $
        32,673

        Patents

        4,858

        4,889

        Software licenses

        302

        302

        Intangible assets, gross

        37,833

        37,864

        Less: accumulated amortization

        (10,946
        )

        (8,244
        )

        Intangible assets, net
         
        $
        26,887

        $
        29,620

       The in-licensed rights relate to agreements with UWA, Nationwide, BioMarin and PPMD. These in-licensed rights are being amortized on a straight-line basis over the remaining life of the related patent because the life of the related patent reflects the expected time period that the Company will benefit from the in-licensed rights. There were no additions of in-licensed rights during the year ended December 31, 2024. For more information related to the Company's in-licensed rights related to its license or settlement agreements with Nationwide, BioMarin and UWA, please refer to Note 3. License and Collaboration Agreements. For the years ended December 31, 2024, 2023 and 2022, the Company recorded $2.7 million, $1.9 million and $1.9 million, respectively, of amortization expense related to intangible assets.The following table summarizes the estimated future amortization for intangible assets: 

        As of December 31, 2024

        (in thousands)

        2025
         
        $
        2,648

        2026

        2,513

        2027

        2,444

        2028

        2,366

        2029

        1,957

        Thereafter

        14,959