Acquisition of Faeth and Pipe Issuance (Tables)

6 Months Ended

Jun. 30, 2026

Business Combination [Abstract]

Summary of Estimated Fair Value of Consideration Transferred

The estimated fair value of the consideration transferred of $145.8 million is summarized as follows (in thousands):


Assumed Options				$	452
Series B Preferred Stock					145,384
Total consideration transferred				$	145,836

Summary of Allocation of Estimated Fair Value of Consideration Transferred to Net Assets Acquired

The following table summarizes the allocation of the estimated fair value of the consideration transferred to the net assets acquired by the Company (in thousands):


Assets acquired:
Cash and cash equivalents				$	6,464
Prepaid expenses					11,487
Other current assets					554
Property and equipment, net					10
Other non-current assets					412
Total assets acquired					18,927
Liabilities assumed:
Accounts payable and accrued liabilities					5,844
Compensation and employee benefits liabilities					204
Total liabilities assumed					6,048
Net assets acquired				$	12,879
In-process research and development					132,957
Total consideration transferred				$	145,836