On January 14, 2022, the Company used cash on hand to acquire all outstanding shares of XTAL BioStructures, Inc. (“XTAL”), a company that provides structural biology services, including biophysical methods, protein production and purification, and X-ray crystallography. The transaction qualified as a business combination for accounting purposes, which involves application of the acquisition method described in ASC Topic 805 Business Combinations (“Topic 805”). The cash purchase price was approximately $7,429 which included $6,427 in upfront purchase price, net of cash acquired. The acquisition of XTAL enables the Company to pursue scientific advancements in the field of structural biology, augment its ability to produce high quality target structures for its drug discovery programs, and expand its offerings to include an advanced and differentiated service that provides customers access to protein structures that have been computationally validated and are ready for structure-based virtual screening and lead optimization, giving rise to expected benefits supporting the amount of acquired goodwill.

The following table summarizes the fair values of the assets acquired and liabilities assumed by the Company as of the January 14, 2022 acquisition date. The business combination accounting under Topic 805 was finalized for this acquisition during the three months ended June 30, 2022, with no changes to the provisional amounts disclosed for the three months ended March 31, 2022. The Company has elected to use both practical expedients provided by ASU No. 2021-08 for the valuation of contract assets and contract liabilities from contracts with customers, with no material impact to the unaudited condensed consolidated financial statements.

Cash	$	1,002
Accounts receivable		588
Other current assets		95
Property, plant and equipment		297
Intangible assets		1,100
Goodwill		4,791
Total assets acquired		7,873
Current liabilities		209
Deferred tax liability		235
Total liabilities assumed		444
Net assets acquired	$	7,429

The following table summarizes the purchase price allocation to the identifiable intangible assets and their estimated useful lives as of the January 14, 2022 acquisition date:

	Amount		Useful Life (years)
Backlog	$	270		1
Customer relationships		710		5
Tradename/Trademark		120		1
	$	1,100

The results of operations for XTAL beginning as of the January 14, 2022 acquisition date are included in these unaudited condensed consolidated financial statements. For the three months ended March 31, 2022, the amount of revenues and net income of XTAL were not material to the unaudited condensed consolidated financial statements taken as a whole. Because the pro forma results of operations of the Company for the periods presented in this report would not be materially different as a result of the acquisition, such information is not presented. The costs incurred to acquire XTAL were not material and have been fully expensed and are included in general and administrative expenses in the unaudited condensed consolidated statements of operations.