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GQ BIO THERAPEUTICS ACQUISITION (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Reconciliation of Purchase Price to Total Consideration Transferred | The following table reconciles the purchase price for the remaining 81% ownership to the total fair value of the GQ Bio Acquisition (in thousands):
Fair Value of Purchase Price Consideration |  | Amount
Cash consideration paid at closing |  | $ | 17,604 |
Indemnification holdback |  | 5,676 |
Cash payment of GQ Bio Acquisition transaction expenses |  | 919 |
Settlement of previously invested note receivable |  | 5,322 |
Settlement of pre-existing receivable |  | 1,055 |
Purchase price consideration of 81% of GQ Bio |  | 30,576 |
Prior 19% equity investment ownership of GQ Bio realized upon business combination |  | 8,315 |
Total fair value of the GQ Bio Acquisition |  | $ | 38,891 |
The following tables set forth the preliminary allocation of the GQ Bio Acquisition purchase price to the estimated fair value of the net assets acquired at the acquisition date (in thousands):
|  | Amounts Recognized at the Acquisition Date (as Previously Reported) (a) |  | Measurement Period Adjustments (b) |  | Amounts Recognized at the Acquisition Date (as Adjusted)
ASSETS ACQUIRED |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,884 |  |  | $ | — |  |  | $ | 1,884 |
Accounts receivable |  | 900 |  |  | — |  |  | 900 |
Prepaid expenses and other assets |  | 120 |  |  | 383 |  |  | 503 |
Fixed assets |  | 364 |  |  | — |  |  | 364 |
Right-of-use assets |  | 1,374 |  |  | — |  |  | 1,374 |
In-process research and development (IPR&D) |  | 22,500 |  |  | — |  |  | 22,500 |
Other noncurrent assets |  | 56 |  |  | — |  |  | 56 |
Total assets |  | $ | 27,198 |  |  | $ | 383 |  |  | $ | 27,581 |
LIABILITIES ASSUMED |  |  |  |  |  |
Accounts payable |  | $ | 1,037 |  |  | $ | (39) |  |  | $ | 998 |
Accrued expenses |  | 91 |  |  | 191 |  |  | 282 |
Lease liabilities |  | 1,374 |  |  | — |  |  | 1,374 |
Deferred tax liability |  | 6,750 |  |  | (2,664) |  |  | 4,086 |
Other liabilities |  | 49 |  |  | — |  |  | 49 |
Total liabilities |  | 9,301 |  |  | (2,512) |  |  | 6,789 |
Total identifiable net assets acquired |  | 17,897 |  |  | 2,895 |  |  | 20,792 |
Goodwill |  | 20,763 |  |  | (2,664) |  |  | 18,099 |
Total fair value of the GQ Bio Acquisition |  | $ | 38,660 |  |  | $ | 231 |  |  | $ | 38,891 |
(a) As previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025. (b) Represents an adjustment to a deferred tax liability, unrecorded liabilities related to pre-acquisition expenses that were paid by the Company in 2025.

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- Definition Tabular disclosure of asset acquired and liability assumed in business combination and recognized at acquisition date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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