Annual report pursuant to Section 13 and 15(d)

Acquired in-Process Research & Development

v3.22.1
Acquired in-Process Research & Development
12 Months Ended
Dec. 31, 2021
Research and Development [Abstract]  
ACQUIRED IN-PROCESS RESEARCH & DEVELOPMENT

6 — ACQUIRED IN-PROCESS RESEARCH & DEVELOPMENT

 

The Company booked intangible assets associated with a number of ongoing research and development projects at the time of the acquisition of Purnovate. The changes in the carrying value of these acquired in-process research and development assets for the year ended are as noted in the table below:

 

    Carrying
Value
Balance at December 31, 2020   $
—  
 
In-process research and development acquired during the period     455,000  
Balance at December 31, 2021   $ 455,000