R&D expense in the fourth quarter of 2019 included $30 million related to collaboration agreements with CAMP4 Therapeutics and Catalyst Biosciences, Inc. SG&A expense in the fourth quarter of 2019 increased versus the third quarter of 2019 primarily due to increased commercial and medical investments as well as the timing of spend on general and administrative expense. We currently believe the probability of earning these payments is remote and therefore we did not include these contingent payments in our calculation of the fair value of the operations. The Tax Cuts and Jobs Act of 2017 (2017 Tax Act) resulted in significant changes to the U.S. corporate income tax system. For the third quarter of 2019 the Company's effective GAAP tax rate was approximately 12%, compared to approximately 20% in the third quarter of 2018. Biogen also announced its full year 2020 financial guidance. This week Biogen is presenting new data from the Company's, In October 2019 the U.S. Food and Drug Administration (FDA) issued a tentative approval for VUMERITY. In September 2019 Eisai Co., Ltd. and Biogen announced the decision to discontinue the Phase 3 clinical studies (MISSION AD1 and MISSION AD2) of the investigational oral BACE (beta amyloid cleaving enzyme) inhibitor elenbecestat (development code: E2609) in patients with early AD. In October 2019 Biogen announced that it plans to submit a regulatory filing for, Amortization and impairment of acquired intangible assets for the three months ended September 30, 2019, and the twelve months ended December 31, 2019, reflects the impact of a $215.9 million impairment charge related to certain. An itemized reconciliation between diluted earnings per share on a GAAP and Non-GAAP basis is as follows: Adjustments to GAAP net income attributable to Biogen Inc. We have an intellectual property dispute with Forward Pharma in the European Union concerning intellectual property related to. These Non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States and should not be viewed in isolation or as a substitute for reported, or GAAP, net income attributable to Biogen Inc. and diluted earnings per share. We exclude unrealized and realized gains and losses and discounts or premiums on our equity security investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations. Amortization and impairment of acquired intangible assets A, (Gain) loss on fair value remeasurement of contingent consideration A, Loss on divestiture of Hillerød, Denmark manufacturing operations B, Net distribution to noncontrolling interests C. Restructuring, business transformation and other cost saving initiatives: Subtotal: Restructuring, business transformation and other cost saving, Premium paid on purchase of Ionis common stock H, Amortization included in Equity in loss of investee, net of tax G. Amortization and impairment of acquired intangible assets for the three and nine months ended September 30, 2018, reflects the impact of impairment charges related to certain IPR&D assets associated with our vixotrigine (BIIB074) program totaling $189.3 million. We evaluated the recoverability of the U.S. asset based upon these most recent developments and recorded a $176.8 million impairment charge in the fourth quarter of 2018 to reduce the remaining net book value of the U.S. asset to zero.

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