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Acquisition (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Summary of Fair Value of Assets Acquired
The total consideration paid for the Merger consisted of the following (in thousands):

Fair value of components of purchase price consideration at closing:
As of Closing Date
Cash (including $11.9 million for existing cash balances)
$41,913 
Common Stock
36,011 
Representative holdback
200 
Contingent consideration payable
11,404 
Company’s capitalizable transaction expenses
4,215 
Total consideration paid
$93,743 
The estimated fair value of the net acquired at Closing Date are as follows (in thousands):

Assets acquired:
As of Closing Date
Cash and cash equivalents$14,982 
Prepaid expenses and other current assets1,211 
Property and equipment, net4,446 
Long-term deposits459 
Operating lease right-of-use assets1,816 
Assembled workforce intangible asset1,315 
IPR&D asset87,184 
Total assets
$111,413 
Liabilities Assumed:
Accounts payable and other current liabilities$16,090 
Operating lease liability, long-term1,580 
Total liabilities assumed17,670 
Total net assets acquired
$93,743