TPTX » Topics » In-Process Research and Development

This excerpt taken from the TPTX 10-K filed Mar 29, 2007.

In-Process Research and Development

In connection with the Merger, we determined that a portion of the amount paid in the transaction was consideration for in-process research and development. The in-process research and development acquired in the Merger consisted of two product candidates under development for the treatment of Alzheimer’s disease. In-process research and development was expensed upon acquisition because technological feasibility has not been established and no future alternative uses exist for the technologies. Our valuation of the in-process research and development involved estimates and judgments and if we make additional acquisitions in the future, we may be required to make similar estimates and judgments.

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