XML 49 R40.htm IDEA: XBRL DOCUMENT v3.24.3
Discontinued Operations - Gain on the Sale of the VOWST Business (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Net assets transferred          
Inventory         $ 29,647
Prepaid expenses and other current assets         1,075
Operating lease assets         19,376
Other non-current assets         39,167
Operating lease liabilities         $ (1,090)
Gain on sale, pre-tax $ 146,707   $ 146,707 $ 0  
VOWST Business [Member]          
Consideration received          
Upfront payment [1] 79,788   79,788    
Prepaid milestone 60,000   60,000    
Deferred revenue from termination of 2016 License Agreement 95,364   95,364    
Settlement of net collaboration payable at close 27,465   27,465    
Premium on equity financing 1,484   1,484    
Deferred income from termination of 2021 License Agreement 3,606   3,606    
Accrued liabilities due to SPN - related party (33,458)   (33,458)    
Total fair value transferred for business 234,249   234,249    
Net assets transferred          
Inventory 63,442   63,442    
Prepaid expenses and other current assets 2,219   2,219    
Property and equipment, net 3,966   3,966    
Operating lease assets 17,929   17,929    
Other non-current assets 39,328   39,328    
Accrued expenses and other current liabilities (31,547)   (31,547)    
Operating lease liabilities (14,413)   (14,413)    
Net assets transferred 80,924   80,924    
Transaction costs 6,618   6,618    
Gain on sale, pre-tax 146,707 $ 0 146,707 0  
Income tax $ 0 $ 0 0 $ 0  
Gain on sale, net of tax     $ 146,707    
[1] The upfront payment consists of $100,000, less $17,857 owed by the Company to an affiliate of SPN under the prior license agreement between the Company and the SPN affiliate, less approximately $2,355 in satisfaction of fees due under the Bacthera Manufacturing Agreement.