$IVVD
Invivyd, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024096674 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $9.300M $2.264M $0.00
YoY Change
Cost Of Revenue $806.0K $88.00K
YoY Change
Gross Profit $8.494M $2.176M
YoY Change
Gross Profit Margin 91.33% 96.11%
Selling, General & Admin $12.96M $21.09M $15.09M
YoY Change 0.54% 108.66% 43.41%
% of Gross Profit 152.52% 969.16%
Research & Development $57.85M $30.33M $62.27M
YoY Change 126.21% -30.46% 206.42%
% of Gross Profit 681.07% 1394.03%
Depreciation & Amortization $132.0K $128.0K $120.0K
YoY Change 10.0% 6.67% 300.0%
% of Gross Profit 1.55% 5.88%
Operating Expenses $70.81M $51.42M $77.35M
YoY Change 64.43% -4.55% 150.82%
Operating Profit -$62.31M -$49.25M
YoY Change 44.71% -8.59%
Interest Expense $1.600M $2.000M $2.700M
YoY Change -15.79% 25.0% -28.95%
% of Operating Profit
Other Income/Expense, Net $1.572M $2.000M $398.0K
YoY Change -56.57% -45.16% -102.27%
Pretax Income -$60.74M -$47.25M -$73.65M
YoY Change 54.0% -5.94% 65.25%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$60.74M -$47.25M -$73.65M
YoY Change 54.0% -5.93% 65.25%
Net Earnings / Revenue -653.11% -2086.88%
Basic Earnings Per Share -$0.51 -$0.40
Diluted Earnings Per Share -$0.51 -$0.40 -$0.67
COMMON SHARES
Basic Shares Outstanding 119.4M 119.3M 110.1M
Diluted Shares Outstanding 119.5M 119.4M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.9M $147.9M $200.6M
YoY Change -59.65% -50.45% -46.06%
Cash & Equivalents $106.9M $147.9M $200.6M
Short-Term Investments $0.00
Other Short-Term Assets $8.551M $16.27M $23.31M
YoY Change 90.02% 46.58% 417.93%
Inventory $27.07M $5.333M $0.00
Prepaid Expenses
Receivables $8.154M $2.888M $0.00
Other Receivables $460.0K $639.0K
Total Short-Term Assets $151.1M $173.0M $224.9M
YoY Change -44.06% -44.19% -40.34%
LONG-TERM ASSETS
Property, Plant & Equipment $1.640M $1.772M $4.125M
YoY Change -18.08% -16.53% 80.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.452M $1.781M $175.0K
YoY Change 3885.03% 512.03% -8.38%
Total Long-Term Assets $10.82M $4.335M $4.300M
YoY Change 124.78% -20.14% -31.2%
TOTAL ASSETS
Total Short-Term Assets $151.1M $173.0M $224.9M
Total Long-Term Assets $10.82M $4.335M $4.300M
Total Assets $161.9M $177.3M $229.2M
YoY Change -41.1% -43.77% -40.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.71M $7.499M $7.953M
YoY Change 93.14% 82.37% 424.26%
Accrued Expenses $59.40M $26.82M $42.30M
YoY Change 272.23% 0.29% 93.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.54M $36.70M $50.29M
YoY Change 193.17% 12.92% 100.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $1.422M
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $1.422M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.54M $36.70M $50.29M
Total Long-Term Liabilities $0.00 $0.00 $1.422M
Total Liabilities $78.76M $36.70M $51.71M
YoY Change 177.15% 8.43% 90.14%
SHAREHOLDERS EQUITY
Retained Earnings -$883.6M -$822.8M -$732.1M
YoY Change 34.2% 32.92% 37.25%
Common Stock $966.7M $963.5M $909.6M
YoY Change 6.83% 6.99% 2.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.16M $140.6M $177.5M
YoY Change
Total Liabilities & Shareholders Equity $161.9M $177.3M $229.2M
YoY Change -41.1% -43.77% -40.19%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$60.74M -$47.25M -$73.65M
YoY Change 54.0% -5.93% 65.25%
Depreciation, Depletion And Amortization $132.0K $128.0K $120.0K
YoY Change 10.0% 6.67% 300.0%
Cash From Operating Activities -$41.07M -$41.60M -$59.24M
YoY Change 16.18% 11.26% 24.96%
INVESTING ACTIVITIES
Capital Expenditures $5.000K $0.00 -$5.000K
YoY Change -100.41%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $77.92M
YoY Change -100.0% -100.0% -156.63%
Cash From Investing Activities -$5.000K $0.00 $77.91M
YoY Change -100.01% -100.0% -156.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.00K 92.00K 145.0K
YoY Change -32.22% -65.93% 3.57%
NET CHANGE
Cash From Operating Activities -41.07M -41.60M -59.24M
Cash From Investing Activities -5.000K 0.000 77.91M
Cash From Financing Activities 61.00K 92.00K 145.0K
Net Change In Cash -41.01M -41.51M 18.82M
YoY Change -168.49% 816.27% -110.11%
FREE CASH FLOW
Cash From Operating Activities -$41.07M -$41.60M -$59.24M
Capital Expenditures $5.000K $0.00 -$5.000K
Free Cash Flow -$41.07M -$41.60M -$59.24M
YoY Change 16.19% 11.26% 21.82%

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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk, Significant Suppliers and License Rights</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024, the Company invested its excess cash in money market funds that are subject to minimal credit and market risks. The Company maintains its existing cash and cash equivalents at three accredited financial institutions that it believes are creditworthy. From time to time, these deposits may exceed federally insured limits. The Company has not experienced any losses historically in these accounts. Accordingly, the Company does not believe it is exposed to unusual credit risk related to its existing cash and cash equivalents beyond the normal credit risk associated with commercial banking relationships.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024, the Company had one third-party logistics distribution agent under the temporary title model which accounted for all of the Company’s net product revenue (see “Revenue Recognition” for additional information).</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> The Company is dependent on third-party organizations to manufacture and process its product candidates for its research and development programs. In particular, the Company relies on a single third-party contract manufacturer to produce and process its product candidates and to manufacture supply of its product candidates for preclinical and clinical activities. The Company also currently relies on this same third-party contract manufacturer for any anticipated requirements of commercial supply, including both drug substance and drug product (see Note 9). The Company expects to continue to be dependent on a small number of third-party organizations to supply it with its requirements for all product candidates. The Company’s research and development programs, including any associated commercialization efforts, could be adversely affected by a significant interruption in the supply of the necessary materials.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is dependent on a limited number of third parties that provide license rights used by the Company in the development and commercialization of its product candidates and programs. Through June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company’s research and development programs primarily relate to rights conveyed by Adimab (see Note 7). The Company could experience delays in the development and commercialization of its product candidates and programs if the Adimab agreements or any other license agreement utilized in the Company’s research and development activities is terminated, if the Company fails to meet the obligations required under its arrangements, or if the Company is unable to successfully secure new strategic alliances or licensing agreements.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
812000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-52760000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29871000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200641000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92076000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
147881000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121947000
us-gaap Net Income Loss
NetIncomeLoss
-90700000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-822800000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk, Significant Suppliers and License Rights</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024, the Company invested its excess cash in money market funds that are subject to minimal credit and market risks. The Company maintains its existing cash and cash equivalents at three accredited financial institutions that it believes are creditworthy. From time to time, these deposits may exceed federally insured limits. The Company has not experienced any losses historically in these accounts. Accordingly, the Company does not believe it is exposed to unusual credit risk related to its existing cash and cash equivalents beyond the normal credit risk associated with commercial banking relationships.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024, the Company had one third-party logistics distribution agent under the temporary title model which accounted for all of the Company’s net product revenue (see “Revenue Recognition” for additional information).</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> The Company is dependent on third-party organizations to manufacture and process its product candidates for its research and development programs. In particular, the Company relies on a single third-party contract manufacturer to produce and process its product candidates and to manufacture supply of its product candidates for preclinical and clinical activities. The Company also currently relies on this same third-party contract manufacturer for any anticipated requirements of commercial supply, including both drug substance and drug product (see Note 9). The Company expects to continue to be dependent on a small number of third-party organizations to supply it with its requirements for all product candidates. The Company’s research and development programs, including any associated commercialization efforts, could be adversely affected by a significant interruption in the supply of the necessary materials.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is dependent on a limited number of third parties that provide license rights used by the Company in the development and commercialization of its product candidates and programs. Through June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company’s research and development programs primarily relate to rights conveyed by Adimab (see Note 7). The Company could experience delays in the development and commercialization of its product candidates and programs if the Adimab agreements or any other license agreement utilized in the Company’s research and development activities is terminated, if the Company fails to meet the obligations required under its arrangements, or if the Company is unable to successfully secure new strategic alliances or licensing agreements.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2900000
CY2024Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2900000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, research and development expenses and related prepaid or accrued costs and stock-based compensation expense. The Company bases its estimates on historical experience, known trends and other market-specific or relevant factors it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ materially from those estimates or assumptions.</span></p>
ivvd Annual Gross Revenue
AnnualGrossRevenue
1235000000
CY2024Q2 us-gaap Convertible Debt
ConvertibleDebt
1000000000
CY2024Q2 ivvd Fair Value Transfers Between Levels Transfers Amount
FairValueTransfersBetweenLevelsTransfersAmount
0
CY2023Q2 ivvd Fair Value Transfers Between Levels Transfers Amount
FairValueTransfersBetweenLevelsTransfersAmount
0
ivvd Annual Gross Revenue
AnnualGrossRevenue
1235000000
CY2024Q2 us-gaap Convertible Debt
ConvertibleDebt
1000000000
CY2024Q2 ivvd Fair Value Transfers Between Levels Transfers Amount
FairValueTransfersBetweenLevelsTransfersAmount
0
CY2023Q2 ivvd Fair Value Transfers Between Levels Transfers Amount
FairValueTransfersBetweenLevelsTransfersAmount
0
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
5274000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
0
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
59000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
0
CY2024Q2 us-gaap Inventory Net
InventoryNet
5333000
CY2023Q4 us-gaap Inventory Net
InventoryNet
0
CY2023Q4 us-gaap Inventory Net
InventoryNet
0
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
5274000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
0
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
59000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
0
CY2024Q2 us-gaap Inventory Net
InventoryNet
5333000
CY2023Q4 us-gaap Inventory Net
InventoryNet
0
CY2024Q2 ivvd Prepaid External Research Development And Manufacturing Expense Current
PrepaidExternalResearchDevelopmentAndManufacturingExpenseCurrent
12234000
CY2023Q4 ivvd Prepaid External Research Development And Manufacturing Expense Current
PrepaidExternalResearchDevelopmentAndManufacturingExpenseCurrent
19962000
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
815000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1770000
CY2024Q2 ivvd Prepaid Compensation And Related Expenses
PrepaidCompensationAndRelatedExpenses
2805000
CY2023Q4 ivvd Prepaid Compensation And Related Expenses
PrepaidCompensationAndRelatedExpenses
1575000
CY2024Q2 ivvd Prepaid Inventory
PrepaidInventory
416000
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
933000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16909000
CY2024Q2 ivvd Prepaid External Research Development And Manufacturing Expense Current
PrepaidExternalResearchDevelopmentAndManufacturingExpenseCurrent
12234000
CY2023Q4 ivvd Prepaid External Research Development And Manufacturing Expense Current
PrepaidExternalResearchDevelopmentAndManufacturingExpenseCurrent
19962000
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
815000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1770000
CY2024Q2 ivvd Prepaid Compensation And Related Expenses
PrepaidCompensationAndRelatedExpenses
2805000
CY2023Q4 ivvd Prepaid Compensation And Related Expenses
PrepaidCompensationAndRelatedExpenses
1575000
CY2024Q2 ivvd Prepaid Inventory
PrepaidInventory
416000
CY2023Q4 ivvd Prepaid Inventory
PrepaidInventory
0
CY2024Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
639000
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
933000
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16909000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24240000
CY2024Q2 ivvd Accrued External Research Development And Manufacturing Expenses Current
AccruedExternalResearchDevelopmentAndManufacturingExpensesCurrent
19234000
CY2023Q4 ivvd Accrued External Research Development And Manufacturing Expenses Current
AccruedExternalResearchDevelopmentAndManufacturingExpensesCurrent
28151000
CY2024Q2 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
2135000
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
1732000
CY2024Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2799000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
10752000
CY2024Q2 ivvd Accrued Inventory
AccruedInventory
2058000
CY2023Q4 ivvd Accrued Inventory
AccruedInventory
0
CY2024Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
596000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24240000
CY2024Q2 ivvd Accrued External Research Development And Manufacturing Expenses Current
AccruedExternalResearchDevelopmentAndManufacturingExpensesCurrent
19234000
CY2023Q4 ivvd Accrued External Research Development And Manufacturing Expenses Current
AccruedExternalResearchDevelopmentAndManufacturingExpensesCurrent
28151000
CY2024Q2 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
2135000
CY2023Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
1732000
CY2024Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2799000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
10752000
CY2024Q2 ivvd Accrued Inventory
AccruedInventory
2058000
CY2023Q4 ivvd Accrued Inventory
AccruedInventory
0
CY2024Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
596000
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
225000
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
26822000
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
40860000
ivvd Quarterly Fee
QuarterlyFee
1300000
CY2024Q1 ivvd Quarterly Fee
QuarterlyFee
600000
ivvd Delivery Fee
DeliveryFee
200000
ivvd Completion Fee
CompletionFee
200000
ivvd Exercise Fee
ExerciseFee
1000000
CY2022Q3 ivvd Acquired In Process Research And Development Expense
AcquiredInProcessResearchAndDevelopmentExpense
3000000
CY2020Q4 ivvd Accrued Upfront Fee
AccruedUpfrontFee
200000
ivvd Royalty Based On Net Sales Of Licensed Products Percentage
RoyaltyBasedOnNetSalesOfLicensedProductsPercentage
0.01
us-gaap Royalty Expense
RoyaltyExpense
0
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.48
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6824712
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q3 ivvd Lessee Operating Lease Total Lease Space
LesseeOperatingLeaseTotalLeaseSpace
9600
CY2021Q3 us-gaap Sale Leaseback Transaction Monthly Rental Payments
SaleLeasebackTransactionMonthlyRentalPayments
400000
CY2023Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
225000
CY2024Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
26822000
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
40860000
ivvd Quarterly Fee
QuarterlyFee
1300000
ivvd Delivery Fee
DeliveryFee
200000
ivvd Completion Fee
CompletionFee
200000
ivvd Exercise Fee
ExerciseFee
1000000
CY2022Q3 ivvd Acquired In Process Research And Development Expense
AcquiredInProcessResearchAndDevelopmentExpense
3000000
CY2020Q4 ivvd Accrued Upfront Fee
AccruedUpfrontFee
200000
ivvd Royalty Based On Net Sales Of Licensed Products Percentage
RoyaltyBasedOnNetSalesOfLicensedProductsPercentage
0.01
us-gaap Royalty Expense
RoyaltyExpense
0
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.48
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6824712
CY2021Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q3 ivvd Lessee Operating Lease Total Lease Space
LesseeOperatingLeaseTotalLeaseSpace
9600
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
431000
us-gaap Operating Lease Cost
OperatingLeaseCost
861000
us-gaap Operating Lease Cost
OperatingLeaseCost
860000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
4000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
11000
us-gaap Variable Lease Cost
VariableLeaseCost
7000
us-gaap Variable Lease Cost
VariableLeaseCost
23000
CY2024Q2 us-gaap Lease Cost
LeaseCost
435000
CY2023Q2 us-gaap Lease Cost
LeaseCost
441000
us-gaap Lease Cost
LeaseCost
868000
us-gaap Lease Cost
LeaseCost
883000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
435000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
432000
us-gaap Operating Lease Payments
OperatingLeasePayments
869000
us-gaap Operating Lease Payments
OperatingLeasePayments
864000
CY2024Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
652000
CY2024Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
36000
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
688000
CY2024Q2 ivvd Present Value Adjustment
PresentValueAdjustment
7000
CY2024Q2 ivvd Present Value Of Operating Lease Liability
PresentValueOfOperatingLeaseLiability
681000
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.06
CY2022Q2 us-gaap Sale Leaseback Transaction Monthly Rental Payments
SaleLeasebackTransactionMonthlyRentalPayments
1300000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
431000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
430000
us-gaap Operating Lease Cost
OperatingLeaseCost
861000
us-gaap Operating Lease Cost
OperatingLeaseCost
860000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
4000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
11000
us-gaap Variable Lease Cost
VariableLeaseCost
7000
us-gaap Variable Lease Cost
VariableLeaseCost
23000
CY2024Q2 us-gaap Lease Cost
LeaseCost
435000
CY2023Q2 us-gaap Lease Cost
LeaseCost
441000
us-gaap Lease Cost
LeaseCost
868000
us-gaap Lease Cost
LeaseCost
883000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
435000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
432000
us-gaap Operating Lease Payments
OperatingLeasePayments
869000
us-gaap Operating Lease Payments
OperatingLeasePayments
864000
CY2024Q2 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
652000
CY2024Q2 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
36000
CY2024Q2 us-gaap Purchase Obligation
PurchaseObligation
688000
CY2024Q2 ivvd Present Value Adjustment
PresentValueAdjustment
7000
CY2024Q2 ivvd Present Value Of Operating Lease Liability
PresentValueOfOperatingLeaseLiability
681000
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.06
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.06
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
700000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2022Q4 ivvd Cash Fees
CashFees
3000000
CY2022Q3 us-gaap Partners Capital Account Public Sale Of Units Net Of Offering Costs
PartnersCapitalAccountPublicSaleOfUnitsNetOfOfferingCosts
400000000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M
us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.06
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
700000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2022Q4 ivvd Cash Fees
CashFees
3000000
CY2024Q2 us-gaap Convertible Preferred Stock Shares Reserved For Future Issuance
ConvertiblePreferredStockSharesReservedForFutureIssuance
46070885
CY2022Q3 us-gaap Partners Capital Account Public Sale Of Units Net Of Offering Costs
PartnersCapitalAccountPublicSaleOfUnitsNetOfOfferingCosts
400000000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23065514
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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P2Y4M24D
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