Significant Agreements (Tables)

6 Months Ended

Jun. 30, 2022

Significant Agreements [Abstract]

Schedule of finite lived intangible assets amortization expense

A summary of the intangible asset activity that resulted from this transaction during the six months ended June 30, 2022 is as follows (in thousands):

	Intangible Assets
Intangible asset at relative fair value	$	15,564
Adjustment to record deferred tax liability		5,783
Carrying value of intangible asset at June 2019 acquisition date	$	21,347
Cumulative amortization expense		(5,667	)
Balance at December 31, 2021	$	15,680
Period amortization expense		(1,133	)
Balance at June 30, 2022	$	14,547

Summary of Changes in Fair Value of Call Option Liability

The following represents a summary of the changes to Company’s One S.r.l. call option liability during the six months ended June 30, 2022 (in thousands):

Balance at December 31, 2021	$	2,416
Change in fair value		865
Foreign currency translation gain		(219	)
Balance at June 30, 2022	$	3,062

Weighted Average Assumptions Used to Determine Fair Value of Call Option Liability

The following weighted average assumptions were used to determine the fair value of the One S.r.l. call option liability at June 30, 2022 and December 31, 2021:

	June 30,			December 31,
	2022			2021
Expected term	4.0 years			2.0 years
Expected volatility		64.0	%		62.0	%
Expected dividend yield		0.0	%	0.0%
Risk free interest rate		3.0	%		0.70	%
Estimated fair value of ownership interest	$	6,097		$	6,922
Exercise price of call option	$	6,270		$	6,806