Quarterly report pursuant to Section 13 or 15(d)

Collaboration and Stock Purchase Agreements (Tables)

v3.19.2
Collaboration and Stock Purchase Agreements (Tables)
 6 Months Ended
Jun. 30, 2019
Collaboration And Stock Purchase Agreements  
Schedule of assets and liabilities of Caelum

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

 

$

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

Total current liabilities

 

 

14,384

Net liability impacted by deconsolidation

 

$

13,177

 

Schedule of gain from deconsolidation of Caelum

In connection with this transaction the Company recorded a gain resulting from the deconsolidation of Caelum on its condensed consolidated financial statements for the six months ended June 30, 2019:

 

 

 

 

 

 

Gain on

 

 

deconsolidation of

($ in thousands)

    

Caelum

Fair value of Caelum

 

$

11,193

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

 

$

18,521