In September 2022, Idera entered a plan of merger with Aceragen, a privately held biotechnology company, whereby Aceragen would ultimately be the continuing company. This transaction is commonly referred to as a sign and close and has numerous complexities around the accounting treatment as it pertains to the accounting acquirer, business combinations versus asset acquisitions, and required pro forma financial information.

Stout assisted with the valuation of complex securities that were issued, such as convertible preferred stock and debt securities acquired. Stout also provided valuation services for the acquired compounds and development programs of Aceragen.