TPTX » Topics » Purchased in-process research and development expense.

This excerpt taken from the TPTX 10-K filed Mar 29, 2007.
Purchased in-process research and development expense.   Purchased in-process research and development for the year ended December 31, 2006 of $8.3 million resulted from the Merger and represents the estimated fair value of certain intangible assets acquired in that transaction. We determined these assets had not reached technological feasibility and that they have no alternative future use, therefore the assets were fully expensed in the year ended December 31, 2006. There was no similar expense during the year ended December 31, 2005.

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