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Note 4 - Investment in Equity Securities
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Investments in Non-marketable Equity Securities Disclosure [Text Block]

NOTE 4: INVESTMENT IN EQUITY SECURITIES

 

On  December 23, 2022, the Company completed its investment in Dynamic Cell Therapies, Inc. (DCT) a U.S. private company that is in the pre-clinical stage of developing novel Chimeric Antigen Receptor (CAR) T-cell therapies based on technology licensed from a leading U.S. cancer treatment and research institution. In total, the Company paid $4,700 to DCT and received Series Seed Preferred Shares representing approximately 19% of the post-investment outstanding shares of DCT. The investment in DCT has been accounted for as an investment in equity securities on the Condensed Consolidated Balance Sheet.

 

The Company considered qualitative impairment factors in determining if there were any signs of impairment of this investment on the balance sheet dates. Specifically, the Company considered the additional adverse changes in the general market condition of the industry in which DCT operates and continued concerns about the investee’s ability to continue as a going concern, due to negative cash flows from operations during the first quarter of 2023. Based on these impairment indicators, the Company performed a quantitative fair value measurement as of March 31, 2023. The resulting quantitative valuation concluded that the investment was not impaired, thus, no impairment has been recorded as of March 31, 2023.