v3.23.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions
The following is the purchase price for the acquisition of Purigen:
Cash$32,034,000 
Estimated fair value of milestone consideration12,970,000 
Return of cash to buyer from escrow(95,000)
Total purchase price$44,909,000 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The total purchase price was allocated to Purigen’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 & cash equivalents$290,000 
Accounts receivable259,000 
Inventory944,000 
Prepaid expenses and other current assets184,000 
Property and equipment, net805,000 
Restricted cash400,000 
Operating lease right-of-use assets1,636,000 
Other long-term assets533,000 
Intangible assets20,000,000 
Goodwill22,646,000 
Accounts payable and other accrued liabilities (1,152,000)
Operating lease liability (short-term and long-term)(1,636,000)
Net assets acquired$44,909,000 
Schedule of 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 following:
Developed technology$18,800,000 
Customer relationships200,000 
Tradename1,000,000 
Fair value of identifiable intangible assets$20,000,000 
Schedule of 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 acquisition had taken place as of January 1, 2021.
 Three Months Ended June 30Six Months Ended June 30,
20222022
Revenue$7,232,000 $13,452,000 
Net loss(34,469,000)(66,519,000)
Basic and diluted net loss per share
$(1.21)$(2.33)