Annual report pursuant to Section 13 and 15(d)

Collaboration and Stock Purchase Agreements (Tables)

v3.21.1
Collaboration and Stock Purchase Agreements (Tables)
 12 Months Ended
Dec. 31, 2020
Collaboration and Stock Purchase Agreements  
Schedule of Assets and Liabilities of Caelum

The Company deconsolidated its holdings in Caelum immediately prior to the execution of the DOSPA. Following the DOSPA execution, the Company owns approximately 40% of the issued and outstanding capital stock of Caelum. The following table provides a summary of the assets and liabilities of Caelum impacted by the deconsolidation:

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​

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January

($ in thousands)

    

2019

ASSETS

 

​

  

Current assets

 

​

  

Cash and cash equivalents

​

$

1,201

Prepaid expenses and other current assets

​

 

6

Total current assets

​

$

1,207

​

​

​

​

LIABILITIES

​

 

  

Current liabilities

​

 

  

Accounts payable and accrued expenses

​

$

2,246

Interest payable

​

 

198

Interest payable - related party

​

 

106

Note payable - related party

​

 

929

Note payable

​

 

9,914

Warrant liability

​

 

991

Total current liabilities

​

 

14,384

Net liability impacted by deconsolidation

​

$

13,177
Schedule of Gain from Deconsolidation of Caelum

In connection with this transaction the Company recorded a gain resulting from the deconsolidation of Caelum on its consolidated financial statements for the year ended December 31, 2019:

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Gain on

​

​

deconsolidation of

($ in thousands)

    

Caelum

Fair value of Caelum

​

$

11,148

Net liabilities deconsolidated

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13,177

Non-controlling interest share

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(4,849)

Write off of MSA fees due Fortress

​

 

(1,000)

Gain on deconsolidation of Caelum

​

$

18,476