Cyclerion Separation (Tables)

6 Months Ended

Jun. 30, 2020

Table Text Blocks

Summary of assets and liabilities transferred in separation

The transfer of assets and liabilities to Cyclerion was effected through a contribution in accordance with the separation agreement as summarized below (in thousands):

		As of April 1, 2019
Assets:
Prepaid expenses and other current assets	$	1,169
Property and equipment, net		10,241
Other assets		21
	$	11,431
Liabilities:
Accrued research and development costs	$	5,673
Accrued expenses and other current liabilities		3,149
	$	8,822
Net Assets Transferred to Cyclerion	$	2,609

In addition, the Company received approximately $1.3 million during the year ended December 31, 2019 associated with tenant improvement reimbursement provisions related to the Cyclerion lease in accordance with the separation agreement.

Summary of the discontinued operations

	Six months ended
	June 30,
	2019
Costs and expenses:
Research and development	21,792
Selling, general and administrative	15,646
Net loss from discontinued operations	37,438