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Description of the Business and Summary of Significant Accounting Policies (Tables) |  | 12 Months Ended
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Jun. 22, 2023 | Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |  |
Summary of Asset Acquisition Cost | The Asset Acquisition costs are shown on the following table (in thousands):
|  | As of June 22, 2023 |
Consideration transferred in Series A Preferred Stock and common stock |  | $ | 109,979 |
Transaction costs incurred by Aeglea |  |  | 3,197 |
Total cost to acquire asset |  | $ | 113,176 |
The Company’s allocation of the purchase price to net assets acquired is as follows (in thousands):
|  | As of June 22, 2023 |
Acquired in-process research and development |  | $ | 130,188 |
Cash acquired |  |  | 3,035 |
Accrued liabilities |  |  | (20,047 | )
Total cost to acquire asset |  | $ | 113,176 |
| The Asset Acquisition Costs are shown on the following table (in millions):
|  | June 22, 2023 |
Consideration transferred in Series A Preferred Stock and Common Stock |  | $ | 110.0 |
Transaction costs incurred by the Company |  |  | 3.2 |
Total cost to acquire asset |  | $ | 113.2 |
The allocation of the purchase price to net assets acquired is as a follows:
|  | June 22, 2023 |
Acquired in-process research and development |  | $ | 130.2 |
Cash acquired |  |  | 3.0 |
Assumed liabilities |  |  | (20.0 | )
Total cost to acquire asset |  | $ | 113.2 |

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- Definition Tabular disclosure of asset acquisition. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 15 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480123/805-50-15-3 + Details
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