Acquisition of Txcell S.A. (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Estimated Fair Value of Net Assets Acquired

The following table summarizes the estimated fair value of the net assets acquired as of the Acquisition Date (in thousands):

	October 1, 2018
Consideration transferred	$	45,911
Fair value of non-controlling interest		35,829
Fair value of TxCell	$	81,740

Cash		4,779
Current assets		2,427
Property and equipment		1,857
IPR&D		55,019
Other assets		155
Current liabilities		(9,761	)
Assumed debt liabilities		(4,933	)
Deferred tax liability, net		(6,798	)
Fair value of net identifiable assets acquired		42,745

Goodwill		38,995
Total fair value of net assets acquired	$	81,740

Summary of Non-controlling Interest

Non-controlling interest as of December 31, 2018 was as follows (in thousands):

	Total
Non-controlling interest at January 1, 2018	$	—
Non-controlling interest at acquisition		35,829
Shares acquired post acquisition		(34,516	)
Non-controlling interest of acquired entity		1,313
Foreign currency effect		(19	)
Loss attributable to non-controlling interest		(555	)
Non-controlling interest at December 31, 2018	$	739

Summary of Unaudited Supplemental Pro Forma Information

The following unaudited supplemental pro forma information presents the Company’s financial results as if the TxCell Acquisition had occurred on January 1, 2017. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the TxCell Acquisition been made on January 1, 2017, nor are they indicative of any future results.

	Year Ended December 31,
	2018			2017
	(in thousands, except per share amounts)
Revenue	$	86,182		$	39,091
Loss from operations		(86,253	)		(68,221	)
Net loss		(79,735	)		(66,350	)
Net loss per share, basic		(0.82	)		(0.85	)