Annual report pursuant to Section 13 and 15(d)

Merger (Tables)

v3.21.2
Merger (Tables)
12 Months Ended
Jun. 30, 2021
Business Combinations [Abstract]  
Schedule of Consideration Transferred Stockholders, Recognized Identified Assets Acquired and Liabilities Assumed Under Merger

The following summarizes total consideration transferred to the Adgero stockholders under the Merger as well as the assets acquired and liabilities assumed under the Merger:

 

 

 

$

(in thousands)

 

Consideration:

 

 

 

 

Common stock

 

 

15,328

 

Warrants

 

 

630

 

Success fee shares

 

 

766

 

 

 

 

16,724

 

Net assets acquired:

 

 

 

 

Cash

 

 

(969

)

Other current assets

 

 

(11

)

Property and equipment (note 5)

 

 

(175

)

Accounts payable and accrued liabilities

 

 

337

 

Milestone payment liability

 

 

188

 

In-process research and development

 

 

16,094

 

Schedule Of Milestone Payment Liability The discount rate was based on published rates for corporate bonds and the term was based on an estimate of the planned timing of completion of the respective development achievement that would result in payment of the respective milestones.

 

 

$

(in thousands)

 

Balance – June 30, 2020

 

 

 

Addition

 

 

188

 

Change in fair value estimate

 

 

(6

)

Balance – June 30, 2021

 

 

182