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Merger | 9 Months Ended
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Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Merger | Merger The Merger was accounted for as an asset acquisition as substantially all of the fair value was concentrated in IPR&D. Cend’s assets (except for cash and working capital) were measured and recognized as an allocation of the transaction price based on their relative fair values as of the transaction date with any value associated with IPR&D being expensed. The fair value of total consideration was $36.1 million. The following table is a summary of the purchase price calculation (in thousands except per share data).
Number of common shares of the combined company owned by Cend stockholders | 3,772,768 |
Multiplied by the fair value per share of Lisata common stock on September 15, 2022 | $6.25
Total | $23,580
Carrying value of Lisata's cost method investment in Cend | 10,000 |
Incremental fair value of Cend's fully vested stock options | 2,136 |
Lisata transaction costs | 382 |
Total purchase price | $36,098
The allocation of the purchase price was as follows (amounts in thousands):
Cash and cash equivalents | $7,062
Net working capital (excluding cash) | (1,690) |
Other liabilities | (22) |
Acquired in-process research and development | 30,393 |
License | 355 |
Net assets acquired | $36,098

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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