v3.26.1
Acquisition of Azora and Pipe Issuance (Tables)
 6 Months Ended
Jun. 30, 2026
Acquisition of Azora and Pipe Issuance [Abstract]  
Schedule of Fair Value of Consideration Transferred

 

The estimated fair value of the consideration transferred of $41.5 million is summarized as follows (in thousands):

 

Assumed options   $ 1,664  
Common stock issued     1,306  
Series A preferred stock issued     38,533  
Total consideration transferred   $ 41,503  
Schedule of Allocation to Estimated Fair Value of Consideration Transferred to Net Assets

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   $ 5,282  
Prepaid expenses     9  
Total assets acquired     5,291  
Liabilities assumed:        
Accounts payable and accrued liabilities     3,816  
Compensation and employee benefits liabilities     572  
Convertible promissory notes     5,585  
Total liabilities assumed     9,973  
Net liabilities acquired   $ (4,682 )
In process research and development     46,185  
Total consideration transferred   $ 41,503