Quarterly report pursuant to Section 13 or 15(d)

Relief Acquisition (Tables)

v3.20.2
Relief Acquisition (Tables)
 9 Months Ended
Jun. 30, 2020
Relief Acquisition  
Schedule of Assets and Liability Acquired

For accounting purposes, the Company determined that the acquisition of Relief did not meet the definition of a business and was accounted for as an asset acquisition since substantially all of the fair value of the assets acquired was concentrated in a single identified intangible asset, atexakin alfa.

 

Fair value of common stock issued:   $ 6,700,128  
         
Assets acquired:        
Cash   $ 16,194  
Prepaid expenses and other current assets     29,311  
In-process research and development (IPR&D)     6,826,495  
Total assets acquired   $ 6,872,000  
         
Liabilities assumed        
Accounts payable     45,757  
Accrued expenses     126,115  
Total liabilities assumed   $ 171,872  
         
Net assets acquired   $ 6,700,128