Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Summary of Preliminary Estimated Fair Value of Consideration

The following table summarizes the preliminary estimated fair value of the consideration associated with the Merger (in thousands):

Fair value of 14,649.591 Series X Preferred Stock issued	$	79,840
Fair value of Catheter's fully vested stock options		3,027
Total purchase price	$	82,867

Summary of Preliminary Purchase Price Allocations

The following table summarizes the preliminary purchase price allocations related to the Merger (in thousands):

Estimated consideration	$	82,867
Assets (liabilities) assumed:
Cash and cash equivalents		33
Other assets		152
Long-term assets		145
Accounts payable, accrued expenses and other liabilities		(2,806	)
Royalties payable, long-term		(7,591	)
Intangible assets		37,000
Net assets assumed		26,933
Deferred tax liability		(10,108	)
Excess of consideration over net assets assumed	$	66,042

Schedule of Intangible Assets Acquired Subject to Amortization Estimated Acquisition Date Fair Values And Estimated Useful Lives

Excess of the purchase price over the estimated fair value of the net assets assumed has been reflected as goodwill.

All intangible assets acquired are subject to amortization and their associated estimated acquisition date fair values and estimated useful lives are as follows (in thousands except for estimated useful life which is in years):

	Estimated Fair Value		Estimated Useful Life
Developed technology – VIVO	$	8,020	8
Developed technology – LockeT		27,060	6
Customer Relationships		220	5
Trademark – VIVO		1,480	9
Trademark – LockeT		220	8
	$	37,000

Schedule of Unaudited Pro Forma Financial Information

The following table represents the revenue, net loss and net loss per share effect of the acquired company, as reported on a pro forma basis as if the acquisition occurred on January 1, 2022. These pro forma results are not necessarily indicative of the results that would have occurred if the acquisition had occurred on the first day of the periods presented, nor does the pro forma financial information purport to represent the results of operations for future periods. The following information for the year ended December 31, 2022 is presented in thousands except for the per share data:

Revenues	$	355
Net loss		(41,559	)
Basic and diluted net loss per share – on a pro forma basis (unaudited)		(22.30	)