As described in the “Reverse recapitalization and pre-closing financing” section of "Note 1 - Nature of operations", on July 27, 2026, the Merger between Pre-Merger Yarrow and VYNE was completed. The Merger was accounted for as a reverse recapitalization in accordance with U.S. GAAP. At the effective time of the Merger, substantially all of the assets and liabilities of VYNE consisted of cash and cash equivalents and other non-operating assets and liabilities. No goodwill or intangible assets were recognized as a result of the Merger. Prior to the Closing, VYNE paid a special cash dividend of $17.3 million to its stockholders and warrant holders of record as of July 22, 2026 on July 23, 2026, which is reflected in the cash and cash equivalents acquired.


	Amount
Cash and cash equivalents		$	2,899
Prepaid expenses and other current assets		330
Property and equipment		76
Accounts payable and accrued expenses assumed		(5,894)
Net liabilities assumed		$	(2,589)