BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2022

BUSINESS COMBINATION

Schedule of purchase consideration

Cash paid at Closing	$	4,700
Receivable from VCN “effectively settled“		417
Fair value of common shares issued		6,599
Fair value of contingent consideration		11,093
	$	22,809

Schedule of allocation of fair value of assets and liabilities acquired

	Estimated fair value
	($in thousands)
Cash and cash equivalents	$	837
Receivables		1,889
Property and equipment		216
In-process research and development intangible asset		19,742
Goodwill		5,696
Deferred tax assets (liabilities), net		(3,209)
Accounts payable		(522)
Accrued expenses		(113)
Accrued employee benefits		(90)
Loan Payable-current		(67)
Other long-term liabilities		(1,570)
Total purchase consideration	$	22,809

Schedule of pro forma consolidated financial information

	Year  Ended December 31
(in thousands)	2022	2021
Net revenues	—	$	—
Net loss	(20,546)	$	(27,025)