Merger (Tables)

3 Months Ended

Mar. 31, 2023

Asset Acquisition [Abstract]

Asset Acquisition

The following table is a summary of the purchase price calculation (in thousands except per share data).

Number of common shares of the combined company owned by Cend stockholders	3,772,768
Multiplied by the fair value per share of Lisata common stock on September 15, 2022	$6.25
Total	$23,580
Carrying value of Lisata's cost method investment in Cend	10,000
Incremental fair value of Cend's fully vested stock options	2,136
Lisata transaction costs	382
Total purchase price	$36,098

The allocation of the purchase price was as follows (amounts in thousands):

Cash and cash equivalents	$7,062
Net working capital (excluding cash)	(1,690)
Other liabilities	(22)
Acquired in-process research and development	30,393
License	355
Net assets acquired	$36,098