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Discontinued Operations

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 6: DISCONTINUED OPERATIONS

The Company determined that the sale of its cell therapy operations qualified for discontinued operations accounting treatment in accordance with ASC 205-20.

The historical balance sheet and statements of operations of the Company and the related notes to the financial statements have been presented as discontinued operations in the financial statements and prior periods have been recast. Discontinued operations include the results of the Company’s historical cell therapy operations.

The following table shows amounts included in assets and liabilities of discontinued operations, respectively, on the Company’s balance sheets as of December 31, 2024 and December 31, 2023:

	December 31, 2024				December 31, 2023
Current liabilities of discontinued operations
Accounts payable		—				158
Accrued research and development expenses		1,204				2,355
Total current liabilities of discontinued operations		1,204				2,513

The following table summarizes the results of operations of the Company’s discontinued operations for the years ended December 31, 2024 and 2023:

	For the Years Ended December 31,
	2024				2023
Classes of expenses constituting loss from discontinued operations
Research and development expense		—				(26,438	)
General and administrative expense		—				(57	)
Impairment of long lived assets		—				(641	)
Loss on disposal of assets		—				(102	)
Loss from discontinued operations related to classes of expenses		—				(27,238	)
Gain from disposal of discontinued operations		—				8,446
Loss from discontinued operations		—				(18,792	)

The following table presents the significant non-cash items and proceeds from sales of assets related to discontinued operations for the years ended December 31, 2024 and 2023 that are included in the accompanying statements of cash flows:
 

	For the Years Ended December 31,
	2024				2023
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		—				1,631
Share-based compensation		—				713
Impairment charges		—				641
Loss on disposal of assets		—				102
Gain on disposal of business		—				(8,446	)
Cash flows provided by investing activities
Proceeds from disposal of business		—				8,000
Proceeds from sale of equipment		—				37

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/205-20/tableOfContent

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

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