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Business Combination (Tables)
9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Schedule of Lists of Various Securities

The following table lists the various securities of PharmAthene which were outstanding as of May 4, 2017 and whose rights and obligations were assumed by the combined entity following the Mergers:

 

Outstanding PharmAthene common stock

     229,450  

Outstanding PharmAthene stock options

     4,100  

Outstanding PharmAthene stock warrants

     155  

Per share fair value of PharmAthene common stock

   $ 195.00  

Weighted average per share fair value of PharmAthene stock options, vested and unvested

   $ 7.80  

Per share fair value of PharmAthene stock warrants

   $ 0.30  

Aggregate fair value of consideration

   $ 44,757,910  

Less fair value of unvested common stock options

     (15,173
  

 

 

 

Total fair value of consideration

   $ 44,742,737  
  

 

 

 
Schedule of Purchase Price Allocation

The final adjusted allocation of the purchase consideration is as follows:

 

Cash and cash equivalents

   $ 13,684,535  

Accounts receivable

     1,124,462  

Prepaid expenses and other current assets

     597,172  

Tax refunds receivable

     1,556,558  

Property and equipment

     75,779  

IPR&D

     22,389,000  

Goodwill

     16,064,498  
  

 

 

 

Total assets acquired

     55,492,004  
  

 

 

 

Accounts payable and accrued expenses

     (2,193,785

Deferred tax liability

     (8,555,482
  

 

 

 

Total liabilities assumed

     (10,749,267
  

 

 

 

Net assets acquired

   $ 44,742,737  
  

 

 

 
Summary of Unaudited Pro Forma Information

The following unaudited pro forma information for the nine months ended September 30, 2017 gives effect to the acquisition of PharmAthene as if the Mergers had occurred on January 1, 2017:

 

Pro forma revenue

   $ 9,035,435  

Pro forma net loss attributable to common stockholders

   $ (39,277,568

Pro forma weighted-average common shares outstanding, basic and diluted

     507,285  

Pro forma net loss per share attributable to common stockholders, basic and diluted

   $ (77.43