Acquisitions (Tables)
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6 Months Ended |
Jun. 30, 2022 |
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| Business Combination and Asset Acquisition [Abstract] |
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| Schedule of Business Acquisitions |
The following is the purchase price for the acquisition of BioDiscovery: | | | | | | | | | | Cash | | $ | 52,291,000 | | | Estimated fair value of milestone consideration | | $ | 9,000,000 | | | Return of cash to buyer from escrow | | $ | (694,000) | | | Shares of common stock issued as consideration | | 2,723,000 | | | Stock price per share on closing date | | $ | 5.20 | | | Value of estimated common stock consideration | | $ | 14,159,000 | | | Total purchase price | | $ | 74,756,000 | |
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| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The total purchase price was allocated to BioDiscovery’s tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with the excess recorded as goodwill, as follows: | | | | | | | | | | Cash and cash equivalents | | $ | 3,205,000 | | | Accounts receivable | | 1,782,000 | | | Right-of-use assets | | 3,987,000 | | | Other assets | | 213,000 | | | Intangible assets | | 26,800,000 | | | Goodwill | | 49,081,000 | | | Accounts payable and other accrued liabilities | | (193,000) | | | Right-of-use liabilities (short-term and long-term) | | (3,987,000) | | | Deferred tax liability | | (5,777,000) | | | Contract liabilities | | (355,000) | | | Net assets acquired | | $ | 74,756,000 | |
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| Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination |
The acquisition date fair values of identifiable intangible assets acquired are as follows: | | | | | | | | | | Customer relationships | | $ | 3,000,000 | | | Developed technology | | 22,800,000 | | | Tradename | | 1,000,000 | | | Fair value of identifiable intangible assets | | $ | 26,800,000 | |
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| Business Acquisition, Pro Forma Information |
The following unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved as if the acquisitions had taken place as of January 1, 2020. | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | Three Months Ended June 30, | | 2021 | | 2021 | | Revenue | | $ | 9,467,000 | | | $ | 5,313,000 | | | Net loss | | (30,479,000) | | | (19,320,000) | | Basic and diluted net loss per share | | $ | (0.11) | | | $ | (0.07) | |
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