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v3.22.2.2

Restatement of Previously Issued Combined Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2021
Combined Balance Sheet [Member] |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |
Schedule of Error Corrections and Prior Period Adjustments | The following tables present the revised results for the year ended December 31, 2020, the adjustments made and the previously reported amounts to summarize the effect of the restatement on the previously-issued combined financial statements for the periods impacted (in thousands). Combined Balance Sheets
|  | December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 8,870 |  |  | $ | 7,005 |  |  | $ | 15,875 |
Total current assets |  | $ | 9,644 |  |  | $ | 7,005 |  |  | $ | 16,649 |
Intangible assets, net |  | $ | 186,592 |  |  | $ | 52 |  |  | $ | 186,644 |
Goodwill |  | $ | 84,066 |  |  | $ | (87 | ) |  | $ | 83,979 |
Total assets |  | $ | 288,410 |  |  | $ | 6,970 |  |  | $ | 295,380 |
|  | December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | 3,456 |  |  | $ | 500 |  |  | $ | 3,956 |
Current portion of finance lease liabilities |  | $ | 14 |  |  | $ | (13 | ) |  | $ | 1 |
Total current liabilities |  | $ | 13,790 |  |  | $ | 487 |  |  | $ | 14,277 |
Deferred income taxes, net |  | $ | 29,185 |  |  | $ | (260 | ) |  | $ | 28,925 |
Other long-term liabilities |  | $ | 1,295 |  |  | $ | 13 |  |  | $ | 1,308 |
Total liabilities |  | $ | 59,603 |  |  | $ | 240 |  |  | $ | 59,843 |
Parent company net investment: |  |  |  |  |  |  |  |  |  |  |  |
Parent company net investment |  | $ | 228,807 |  |  | $ | 6,730 |  |  | $ | 235,537 |
Total liabilities and parent company net investment |  | $ | 288,410 |  |  | $ | 6,970 |  |  | $ | 295,380 |
Combined Balance Sheets
|  | December 31, 2019 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 7,774 |  |  | $ | 150 |  |  | $ | 7,924 |
Total current assets |  | $ | 7,795 |  |  | $ | 150 |  |  | $ | 7,945 |
Goodwill |  | $ | 77,108 |  |  | $ | (86 | ) |  | $ | 77,022 |
Total assets |  | $ | 262,320 |  |  | $ | 64 |  |  | $ | 262,384 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 806 |  |  | $ | 71 |  |  | $ | 877 |
Current portion of finance lease liabilities |  | $ | — |  |  | $ | 7 |  |  | $ | 7 |
Total current liabilities |  | $ | 6,139 |  |  | $ | 78 |  |  | $ | 6,217 |
Deferred income taxes, net |  | $ | 35,388 |  |  | $ | (86 | ) |  | $ | 35,302 |
Other long-term liabilities |  | $ | 295 |  |  | $ | 14 |  |  | $ | 309 |
Total liabilities |  | $ | 44,135 |  |  | $ | 6 |  |  | $ | 44,141 |
Parent company net investment: |  |  |  |  |  |  |  |  |  |  |  |
Parent company net investment |  | $ | 218,185 |  |  | $ | 58 |  |  | $ | 218,243 |
Total liabilities and parent company net investment |  | $ | 262,320 |  |  | $ | 64 |  |  | $ | 262,384 |
Combined Statement Of Operations [Member] |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |
Schedule of Error Corrections and Prior Period Adjustments | Combined Statements of Operations
|  | Year ended December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Research and development |  | $ | 24,894 |  |  | $ | (98 | ) |  | $ | 24,796 |
General and administrative |  | $ | 10,240 |  |  | $ | (15 | ) |  | $ | 10,225 |
Total operating expenses |  | $ | 49,004 |  |  | $ | (113 | ) |  | $ | 48,891 |
Loss from operations |  | $ | (25,736 | ) |  | $ | 113 |  |  | $ | (25,623 | )
Loss before income tax |  | $ | (23,841 | ) |  | $ | 113 |  |  | $ | (23,728 | )
Income tax benefit (expense) |  | $ | 5,945 |  |  | $ | 226 |  |  | $ | 6,171 |
Net loss |  | $ | (17,896 | ) |  | $ | 339 |  |  | $ | (17,557 | )
Combined Statements of Operations
|  | Year ended December 31, 2019 |
|  | Reported |  |  | Adjustment |  |  | Restated |
License and milestone revenue |  | $ | 12,685 |  |  | $ | 65 |  |  | $ | 12,750 |
Service revenue |  | $ | 5,528 |  |  | $ | 40 |  |  | $ | 5,568 |
Total revenue |  | $ | 18,213 |  |  | $ | 105 |  |  | $ | 18,318 |
Research and development |  | $ | 13,137 |  |  | $ | 71 |  |  | $ | 13,208 |
General and administrative |  | $ | 7,976 |  |  | $ | 675 |  |  | $ | 8,651 |
Total operating expenses |  | $ | 30,599 |  |  | $ | 746 |  |  | $ | 31,345 |
Loss from operations |  | $ | (12,386 | ) |  | $ | (641 | ) |  | $ | (13,027 | )
Loss before income tax |  | $ | (12,386 | ) |  | $ | (641 | ) |  | $ | (13,027 | )
Income tax benefit (expense) |  | $ | (657 | ) |  | $ | 95 |  |  | $ | (562 | )
Net loss |  | $ | (13,043 | ) |  | $ | (546 | ) |  | $ | (13,589 | )
Combined Statement Of Changes In Parent Company Net Investment [Member] |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |
Schedule of Error Corrections and Prior Period Adjustments | Combined Statements of changes in Parent Company Net Investment
|  | December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Parent company net investment – January 1, 2020 |  | $ | 218,185 |  |  | $ | 58 |  |  | $ | 218,243 |
Net loss |  | $ | (17,896 | ) |  | $ | 339 |  |  | $ | (17,557 | )
Net transfers from parent company |  | $ | 19,353 |  |  | $ | 6,333 |  |  | $ | 25,686 |
Parent company net investment – December 31, 2020 |  | $ | 228,807 |  |  | $ | 6,730 |  |  | $ | 235,537 |
Combined Statements of changes in Parent Company Net Investment
|  | December 31, 2019 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Net loss |  | $ | (13,043 | ) |  | $ | (546 | ) |  | $ | (13,589 | )
Net transfers from parent company |  | $ | 19,686 |  |  | $ | 604 |  |  | $ | 20,290 |
Parent company net investment – December 31, 2019 |  | $ | 218,185 |  |  | $ | 58 |  |  | $ | 218,243 |
Combined Statement Of Cash Flows [Member] |
Error Corrections and Prior Period Adjustments Restatement [Line Items] |
Schedule of Error Corrections and Prior Period Adjustments | Combined Statements of Cash Flows
|  | Year ended December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (17,896 | ) |  | $ | 339 |  |  | $ | (17,557 | )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes, net |  | $ | (5,960 | ) |  | $ | (225 | ) |  | $ | (6,185 | )
Other |  | $ | — |  |  | $ | 161 |  |  | $ | 161 |
Changes in operating assets and liabilities, net of acquisitions: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | (1,096 | ) |  | $ | 1,435 |  |  | $ | 339 |
Accounts payable and accrued liabilities |  | $ | 2,337 |  |  | $ | 422 |  |  | $ | 2,759 |
Deferred revenue |  | $ | 9,779 |  |  | $ | (8,451 | ) |  | $ | 1,328 |
Other |  | $ | 1,323 |  |  | $ | (14 | ) |  | $ | 1,309 |
Net cash provided by operating activities |  | $ | 9,952 |  |  | $ | (6,333 | ) |  | $ | 3,619 |
|  | Year ended December 31, 2020 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Net transfer from parent |  | $ | 19,353 |  |  | $ | 6,333 |  |  | $ | 25,686 |
Net cash provided by financing activities |  | $ | 17,028 |  |  | $ | 6,333 |  |  | $ | 23,361 |
Supplemental disclosure of cash flow information: |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue recorded in accounts receivable |  | $ | — |  |  | $ | 8,451 |  |  | $ | 8,451 |
Combined Statements of Cash Flows
|  | Year ended December 31, 2019 |
|  | Reported |  |  | Adjustment |  |  | Restated |
Operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (13,043 | ) |  | $ | (546 | ) |  | $ | (13,589 | )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Deferred income taxes, net |  | $ | 653 |  |  | $ | (96 | ) |  | $ | 557 |
Changes in operating assets and liabilities, net of acquisitions: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | (5,565 | ) |  | $ | 1,275 |  |  | $ | (4,290 | )
Accounts payable and accrued liabilities |  | $ | (648 | ) |  | $ | 78 |  |  | $ | (570 | )
Deferred revenue |  | $ | (450 | ) |  | $ | (1,425 | ) |  | $ | (1,875 | )
Other |  | $ | (1,959 | ) |  | $ | 110 |  |  | $ | (1,849 | )
Net cash used in operating activities |  | $ | (4,591 | ) |  | $ | (604 | ) |  | $ | (5,195 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Net transfer from parent |  | $ | 19,686 |  |  | $ | 604 |  |  | $ | 20,290 |
Net cash provided by financing activities |  | $ | 16,686 |  |  | $ | 604 |  |  | $ | 17,290 |
Supplemental disclosure of cash flow information: |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue recorded in accounts receivable |  | $ | — |  |  | $ | 1,425 |  |  | $ | 1,425 |

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