XML 32 R21.htm IDEA: XBRL DOCUMENT v3.24.3
Related Party Transactions
 8 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

13. Related Party Transactions

 

Paragon and Paruka each beneficially own less than 5% of the Company’s capital stock through their respective holdings of Company Common Stock.

 

Fairmount beneficially owns more than 5% of the Company’s capital, currently has one representative appointed to the Board, and beneficially owns more than 5% of Paragon. Fairmount appointed Paragon’s board of directors and has the contractual right to approve the appointment of any executive officers of Paragon.

 

The following is a summary of related party accounts payable and other current liabilities (in thousands): 

 

   September 30,
2024		 
Paragon reimbursable Option Agreements’ fees  $6,140 
Paragon reimbursable other research expenses   146 
Paragon reimbursable patent expenses   71 
   $6,357