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Acquisition of Pionyr Therapeutics (Tables)

9 Months Ended

Sep. 30, 2023

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Acquisition date (in thousands):

Assets Acquired	As of August 4, 2023
Cash and cash equivalents	$	40,926
Marketable securities		20,362
Prepaid expenses and other current assets		1,359
Right-of-use-asset		3,889
Deposits and other assets		406
Total assets acquired	$	66,942
Liabilities Assumed
Accounts payable		(2,844	)
Accrued expenses and other current liabilities		(8,097	)
Operating lease liability		(1,485	)
Long-term portion of operating lease liability		(5,647	)
Other long term liabilities		(852	)
Total liabilities assumed	$	(18,925	)
Net assets acquired (1)	$	48,017

(1) Net assets acquired does not include the remaining costs to complete the wind down of Pionyr development activities and operations.

Schedule of Fair Value of Equity Issued and Consideration Transferred

Fair value of equity issued and consideration transferred in connection with the Acquisition (in thousands):

	As of August 4, 2023
Issuance of Series A Preferred Stock	$	32,837
Issuance of common stock		14,236
Cash consideration paid to settle Pionyr restricted stock units ("RSUs") and stock options		738
Cash consideration paid to Pionyr unaccredited stockholders		206
Total	$	48,017

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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.

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-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

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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.

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