Quarterly report pursuant to Section 13 or 15(d)

Assets Held for Sale

Assets Held for Sale
6 Months Ended
Jun. 30, 2023
Assets Held For Sale  
Assets Held for Sale


8. Assets Held for Sale


In July 2023, we entered into an Asset Purchase Agreement with Fedson for the sale of certain ProNeura Assets including our portfolio of drug addiction products, in addition to other early development programs based on the ProNeura drug delivery technology. Our addiction portfolio consists of the Probuphine and Nalmefene implant programs. The ProNeura Assets constitute only a portion of our assets. As further consideration for the transaction, Fedson will assume all liabilities related to a pending employment claim against us. We determined that the criterion to classify the ProNeura Assets and liabilities as assets and liabilities held for sale within our condensed balance sheet at June 30, 2023 were met. The assets and liabilities held for sale consisted of approximately $0.1 million of inventory, approximately $0.1 million of property and equipment, net, and approximately $0.2 million of accrued liabilities.