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GNI USA Contributions under the Business Combination Agreement (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Summary of Purchase Price | The following summarizes the purchase price paid in the GNI USA Contributions (in thousands, except per share amounts):
﻿ | Catalyst Common Stock outstanding |  | 2,532 |
| Multiplied by the fair value per share of Catalyst stock (1) | $ | 7.67 |
| Fair value of common shares to be owned by Catalyst’s stockholders | $ | 19,420 |
| Fair value of preferred shares to be owned by Catalyst’s stockholders (2) | $ | 63,099 |
| Fair value of Catalyst | $ | 82,519 |
| Pre-GNI USA Contributions Catalyst stock options assumed by CPI (3) | $ | 1,829 |
| Fair value of consideration issued | $ | 84,348 |
| Acquisition costs | $ | 659 |
| Purchase price | $ | 85,007 |
(1) The purchase price was based on the closing price of Catalyst Common Stock on October 30, 2023. (2) This amount is calculated based on 12,340 shares of Convertible Preferred Stock outstanding as of October 30, 2023. Each share of preferred stock converts into approximately 666.67 shares of common stock. The fair value was calculated using the closing price of Catalyst Common Stock on October 30, 2023 and the number of underlying common shares. (3) Any option to purchase Catalyst Common Stock that was issued and outstanding at the Effective Time remains issued and outstanding and unaffected by the GNI USA Contributions. In a reverse acquisition, however, from an accounting perspective, the Catalyst employee stock option awards have been exchanged for share-based payment awards of the accounting acquirer. Accordingly, this balance represents the pre-Contributions service portion of the estimated fair value of the employee stock option awards issued to Catalyst option holders. In calculating the estimated fair value of the option awards based on the Black-Scholes model, management used the following weighted-average assumptions:
Expected term (in years) |  | 5.00 |
Volatility |  | 84.30 | %
Risk free interest rate |  | 3.65 | %
Dividend yield | —% |
Summary of Estimated Fair Value of Option Awards Based on Black-scholes Model | In calculating the estimated fair value of the option awards based on the Black-Scholes model, management used the following weighted-average assumptions:
Expected term (in years) |  | 5.00 |
Volatility |  | 84.30 | %
Risk free interest rate |  | 3.65 | %
Dividend yield | —% |
Summary Of Acquired Assets And Assumed Liabilities Of Based On Estimated Fair Values | The total purchase price paid in the GNI USA Contributions has been allocated to the net assets acquired and liabilities assumed based on their fair values at the Effective Time. The allocation of the purchase price, as shown above, is as follows (in thousands):
Cash and cash equivalents | $ | 5,587 |
Other receivables from GNI |  | 423 |
Prepaid assets |  | 1,097 |
Other current assets |  | 41 |
Long-term receivable from GCBP |  | 4,683 |
Other assets, noncurrent |  | 168 |
IPR&D |  | 83,104 |
Accounts payable |  | (44 | )
Advance payment received from GNI |  | (2,500 | )
Accrued expenses and other current liabilities |  | (1,784 | )
CVR excess closing cash payable |  | (1,085 | )
CVR derivative liability, noncurrent |  | (4,683 | )
Net assets acquired | $ | 85,007 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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