Quarterly report pursuant to Section 13 or 15(d)

Collaboration and Stock Purchase Agreements (Tables)

v3.19.1
Collaboration and Stock Purchase Agreements (Tables)
 3 Months Ended
Mar. 31, 2019
Collaboration And Stock Purchase Agreements [Abstract]  
Summary of Assets and Liabilities Of Caelum Impacted By Deconsolidation
The following table provides a summary of the assets and liabilities of Caelum impacted by the deconsolidation:
 
 
January
 
($ in thousands)
 
2019
 
ASSETS
 
 
 
 
Current assets
 
 
 
 
Cash and cash equivalents
 
$
1,201
 
Prepaid expenses and other current assets
 
 
6
 
Total current assets held for sale
 
$
1,207
 
 
 
 
 
 
LIABILITIES
 
 
 
 
Current liabilities
 
 
 
 
Accounts payable and accrued expenses
 
$
2,246
 
Interest payable
 
 
198
 
Interest payable - related party
 
 
106
 
Note payable - related party
 
 
929
 
Note payable
 
 
9,914
 
Warrant liability
 
 
991
 
Other current liabilities
 
 
14,384
 
Net liabilities impacted by deconsolidation
 
$
13,177
 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidated Financial Statements
In connection with this transaction the Company recorded a gain resulting from the deconsolidation of Caelum on its condensed consolidated financial statements for the three months ended March 31, 2019:
 
($ in thousands)
 
Gain on
deconsolidation
of Caelum
 
Fair value of Caelum
 
$
11,056
 
Net liabilities deconsolidated
 
 
13,177
 
Non-controlling interest share
 
 
(4,849
)
Write off of MSA fees due Fortress
 
 
(1,000
)
Gain on deconsolidation of Caelum
 
$
18,384