Asset Acquisition and Private Placement with a Related Party (Tables)

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Summary of Total Consideration Comprised of Following

The fair value of the total consideration was approximately $52.8 million and was comprised of the following components (in thousands):


Equity consideration	$	41,867
Settlement of pre-existing loan		5,036
Direct transaction costs		5,849
Total consideration	$	52,752

Summary of Purchase Consideration For The Acquisition Based On The Fair Value Of The Net Assets Acquired By The Company

The following is the allocation of the purchase consideration for the Acquisition based on the fair value of the net assets acquired by the Company (in thousands):


Assets acquired
In-process research and development	$	51,659
Cash and cash equivalents		1,204
Prepaid expenses and other current assets		1,861
Total assets acquired	$	54,724
Liabilities assumed
Accounts payable		(1,603	)
Accounts payable, related party		(101	)
Accrued expenses and other current liabilities		(192	)
Accrued expenses, related party		(76	)
Total liabilities assumed	$	(1,972	)
Net assets acquired	$	52,752