Quarterly report [Sections 13 or 15(d)]

Business Combination (Tables)

v3.25.2
Business Combination (Tables)
6 Months Ended
Jun. 30, 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

 

June 30, 

    

Fair Value

    

Impairment

    

Translation Adj

    

2025

Halneuron® for Cancer Related Pain

$

59,900,000

$

$

(169,287)

$

59,730,713

Halneuron® for Chemotherapy Induced Neuropathic Pain

 

9,600,000

 

(27,131)

 

9,572,869

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

$

69,500,000

$

$

(196,418)

$

69,303,582

 

 

Goodwill

$

12,493,727

$

$

(35,344)

$

12,458,383

Schedule of unaudited pro forma information

Three months ended

Six months ended

 

June 30, 

June 30, 

(In thousands)

    

2024

    

2024

Net revenues

$

$

Net loss before taxes

$

(2,451,151)

$

(5,163,258)