The percent ownership differs according to which 10K you review but regardless. Taigen is valued at $1.4B USB right now!
ARNA's balance sheet will look awfully pretty for Q1 2014. Why? Taigen stock started trading January 2014, so what was previously intangible now is a tangible asset that must be disclosed. $55 million people!
Not much discussion needed. This is an asset valued at about $55 million. Arena has made a legally required disclosure and will now recognize a previously intangible asset as a tangible asset, because the company is now public and the stock has a value in the market place. It will show a one-time income shot of $55 million which will immediately flow from the income statement to the balance sheet as an asset.