Oncoceutics Acquisition (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Asset Acquisition

The following represents the consideration paid and purchase price allocation for the acquisition of Oncoceutics (in thousands, except for per share data):

Cash	$	23,836
One-year closing anniversary payment	14,000
Shares common stock issued as consideration	8,723,769
Stock price per share on effective date	4.98
Value of estimated common stock consideration	43,445
Total consideration	$	81,281
Net assets acquired	$	(1,310)
IPR&D assets expensed	82,591
Total purchase price allocated	$	81,281
Transaction costs expensed to IPR&D(1)	$	299
Total IPR&D expensed	$	82,890

(1) As a result of the asset acquisition accounting, the transaction costs associated with the acquisition should be included in the costs of the assets acquired. The primary asset acquired, the IPR&D asset, was expensed and the transaction related costs were included with and expensed with this asset. The transaction costs primarily included financial advisor fees, legal expenses and auditor expenses. Additionally, there were $0.6 million of expenses related to this acquisition recorded in the fourth quarter of 2020 to general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss.