Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Table Text Blocks

Schedule of asset acquisition

Cash consideration paid to selling shareholders (1)	$	1,041,391
Cash consideration paid to settle VectivBio restricted stock units (“RSUs”) and stock options (2)		78,003
Cash consideration paid to settle VectivBio warrants (3)		3,720
Transaction costs		26,270

Fair value of noncontrolling interest (4)		26,218
Total purchase consideration	$	1,175,602

(1) The cash consideration paid to selling shareholders was determined based on the total number of the outstanding ordinary shares of VectivBio (the “VectivBio Shares”) tendered at closing of 61,258,315 at a per share price of $17.00.

(2) The cash consideration paid to settle VectivBio RSUs and stock options issued under VectivBio’s equity incentive plans was determined based on the total number of underlying VectivBio Shares of 8,904,171 at a per share price of $17.00, less the exercise price for stock options.

(3) The cash consideration paid to settle VectivBio warrants was determined based on the total number of VectivBio warrant shares outstanding at close of 324,190 at a per share price of $11.4757 calculated as the per share price of $17.00, less the exercise price of $5.5243 per share.

(4) The fair value of the noncontrolling interest was determined based on the total number of VectivBio Shares outstanding at closing of 1,547,723 at the closing date of the tender offer, using the VectivBio closing share price on June 28, 2023 of $16.94.

Assets acquired
Cash and cash equivalents	$	123,340
Prepaid expenses and other current assets		10,867
Property and equipment		126
Intangible assets		4,100
Acquired in-process research and development		1,095,449
Total assets acquired	$	1,233,882
Liabilities assumed
Current liabilities		42,377
Other liabilities		15,903
Total liabilities assumed	$	58,280
Net assets acquired	$	1,175,602