Quarterly report [Sections 13 or 15(d)]

Business Combination (Tables)

v3.25.1
Business Combination (Tables)
3 Months Ended
Mar. 31, 2025
Business Combination  
Schedule of fair value of consideration

    

  

Fair value of common stock issued

$

893,093

Fair value of preferred stock issued

70,372,634

Total Consideration Paid

$

71,265,727

Schedule of allocation of purchase price to fair values of assets and liabilities acquired

Assets acquired:

Cash

$

3,762,000

Prepaid expenses and other current assets

380,000

Property and equipment

19,000

In-process research and development assets

69,500,000

Goodwill

12,493,727

Right-of-use asset - operating leases

230,000

Total assets acquired

$

86,384,727

Liabilities assumed:

 

  

Accounts payable

$

904,000

Accrued expenses and other current liabilities

 

2,017,000

Deferred tax liability

11,968,000

Operating lease liabilities

230,000

Total liabilities assumed

$

15,119,000

Net assets acquired

$

71,265,727

Schedule of intangible assets acquired

 

Carrying Value

 

as of

Combination Date

 

March 31, 

    

Fair Value

    

Impairment

    

Translation Adj

    

2025

Halneuron® for Cancer Related Pain

$

59,900,000

$

$

(3,214,822)

$

56,685,178

Halneuron® for Chemotherapy Induced Neuropathic Pain

 

9,600,000

 

(515,229)

 

9,084,771

Total in-process research and development (IPR&D)

$

69,500,000

$

$

(3,730,051)

$

65,769,949

 

 

Goodwill

$

12,493,727

$

$

(670,568)

$

11,823,159

Schedule of unaudited pro forma information

 

March 31, 

(In thousands)

    

2024

Net revenues

$

Net loss before taxes

$

(2,712)