2023 Q1 Form 10-K Financial Statement
#000149315223007351 Filed on March 13, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $485.0K | $293.0K | $1.082M |
YoY Change | 284.92% | 261.73% | 71.47% |
Cost Of Revenue | $3.559M | $3.328M | $11.28M |
YoY Change | 29.23% | 2.12% | 4.7% |
Gross Profit | -$3.074M | -$3.035M | -$10.19M |
YoY Change | 16.97% | -4.5% | 0.54% |
Gross Profit Margin | -633.81% | -1035.84% | -942.14% |
Selling, General & Admin | $13.28M | $15.89M | $56.12M |
YoY Change | 21.54% | 26.8% | 46.39% |
% of Gross Profit | |||
Research & Development | $3.151M | $2.518M | $15.51M |
YoY Change | 33.4% | -51.26% | -20.72% |
% of Gross Profit | |||
Depreciation & Amortization | $508.0K | $520.0K | $2.061M |
YoY Change | 7.4% | 10.87% | 12.32% |
% of Gross Profit | |||
Operating Expenses | $19.99M | $18.40M | $82.90M |
YoY Change | 50.42% | 4.01% | 43.2% |
Operating Profit | -$19.51M | -$21.44M | -$81.82M |
YoY Change | 22.54% | 2.72% | 20.27% |
Interest Expense | $1.429M | $298.0K | $4.007M |
YoY Change | -126.79% | -85.73% | -332.83% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$27.75M | -$21.14M | -$113.3M |
YoY Change | 30.57% | 12.55% | 62.43% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$27.75M | -$21.14M | -$113.3M |
YoY Change | 30.57% | 12.55% | 62.43% |
Net Earnings / Revenue | -5721.86% | -7215.36% | -10471.63% |
Basic Earnings Per Share | -$3.22 | -$0.44 | |
Diluted Earnings Per Share | -$3.22 | -$0.08 | -$0.44 |
COMMON SHARES | |||
Basic Shares Outstanding | 258.3M shares | 258.3M shares | 258.3M shares |
Diluted Shares Outstanding | 8.609M shares | 8.609M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $40.39M | $62.63M | $62.63M |
YoY Change | -60.14% | -48.54% | -48.54% |
Cash & Equivalents | $40.39M | $62.63M | |
Short-Term Investments | |||
Other Short-Term Assets | $1.976M | $6.059M | $4.335M |
YoY Change | -51.59% | 66.78% | -5.1% |
Inventory | $6.768M | $6.599M | $6.599M |
Prepaid Expenses | $2.419M | $2.309M | |
Receivables | $281.0K | $94.00K | $94.00K |
Other Receivables | $1.203M | $4.033M | $4.033M |
Total Short-Term Assets | $51.84M | $77.69M | $77.69M |
YoY Change | -53.86% | -40.37% | -40.37% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $11.69M | $12.25M | $15.57M |
YoY Change | -20.43% | 11.02% | 8.26% |
Goodwill | $2.132M | $2.127M | |
YoY Change | -5.93% | ||
Intangibles | $58.50M | $58.35M | |
YoY Change | -6.03% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.311M | $1.355M | $1.355M |
YoY Change | -9.34% | 7.63% | 7.63% |
Total Long-Term Assets | $76.63M | $77.40M | $77.40M |
YoY Change | -6.16% | -3.25% | -3.25% |
TOTAL ASSETS | |||
Total Short-Term Assets | $51.84M | $77.69M | $77.69M |
Total Long-Term Assets | $76.63M | $77.40M | $77.40M |
Total Assets | $128.5M | $155.1M | $155.1M |
YoY Change | -33.79% | -26.25% | -26.25% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $9.837M | $12.97M | $12.97M |
YoY Change | 150.5% | 203.11% | 203.11% |
Accrued Expenses | $12.18M | $14.82M | $14.82M |
YoY Change | -16.98% | -8.15% | -8.15% |
Deferred Revenue | $649.0K | $409.0K | |
YoY Change | -22.24% | ||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $29.57M | $36.94M | $36.94M |
YoY Change | -13.0% | 13.37% | 13.37% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $49.36M | $48.89M | $48.89M |
YoY Change | 99.12% | 71.89% | 71.89% |
Other Long-Term Liabilities | $4.507M | $5.093M | $5.093M |
YoY Change | -20.41% | -5.11% | -5.11% |
Total Long-Term Liabilities | $53.87M | $53.98M | $53.98M |
YoY Change | 76.89% | 59.67% | 59.67% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $29.57M | $36.94M | $36.94M |
Total Long-Term Liabilities | $53.87M | $53.98M | $53.98M |
Total Liabilities | $83.44M | $90.92M | $90.92M |
YoY Change | 29.48% | 36.94% | 36.94% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$517.4M | -$489.6M | |
YoY Change | 29.4% | ||
Common Stock | $534.3M | $532.3M | |
YoY Change | 20.37% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $45.02M | $64.16M | $64.16M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $128.5M | $155.1M | $155.1M |
YoY Change | -33.79% | -26.25% | -26.25% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$27.75M | -$21.14M | -$113.3M |
YoY Change | 30.57% | 12.55% | 62.43% |
Depreciation, Depletion And Amortization | $508.0K | $520.0K | $2.061M |
YoY Change | 7.4% | 10.87% | 12.32% |
Cash From Operating Activities | -$21.66M | -$19.05M | -$73.70M |
YoY Change | 8.69% | 2.86% | 84.66% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $534.0K | $1.452M | $4.344M |
YoY Change | -203.69% | -338.03% | -317.74% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$534.0K | -$1.452M | -$4.344M |
YoY Change | 3.69% | 138.03% | -118.76% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | $19.45M | |
YoY Change | -100.0% | -56.09% | |
NET CHANGE | |||
Cash From Operating Activities | -$21.66M | -19.05M | -$73.70M |
Cash From Investing Activities | -$534.0K | -1.452M | -$4.344M |
Cash From Financing Activities | 0.000 | $19.45M | |
Net Change In Cash | -$22.24M | -20.50M | -$59.07M |
YoY Change | 8.86% | 26.27% | -314.46% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$21.66M | -$19.05M | -$73.70M |
Capital Expenditures | $534.0K | $1.452M | $4.344M |
Free Cash Flow | -$22.19M | -$20.50M | -$78.04M |
YoY Change | 14.32% | 14.48% | 105.84% |
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Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-27476000 | usd |
CY2021 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
3011000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-113303000 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-69753000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-113303000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69753000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
23005000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-2830000 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-90298000 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-72583000 | usd |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.44 | |
CY2021 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.27 | |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
258257296 | shares |
CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
254947202 | shares |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
171705000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
32176000 | usd |
CY2021 | VBIV |
Stock Issued During Period Value Common Shares Issued Upon Exercise Of Warrants
StockIssuedDuringPeriodValueCommonSharesIssuedUponExerciseOfWarrants
|
85000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
4000 | usd |
CY2021 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
2000000 | usd |
CY2021 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
867000 | usd |
CY2021 | us-gaap |
Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
9628000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69753000 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-2830000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
143882000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
143882000 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
681000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
12000 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
1550000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
9698000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-113303000 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
23005000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
64163000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
64163000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-113303000 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69753000 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2061000 | usd |
CY2021 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1835000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9698000 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9628000 | usd |
CY2022 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
1707000 | usd |
CY2021 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
2999000 | usd |
CY2022 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-172000 | usd |
CY2022 | VBIV |
Inventory Reserve
InventoryReserve
|
1186000 | usd |
CY2021 | VBIV |
Inventory Reserve
InventoryReserve
|
174000 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-27445000 | usd |
CY2021 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
496000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
87000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-69000 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
5690000 | usd |
CY2021 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
513000 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-18000 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
787000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
2738000 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-5558000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
173000 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
584000 | usd |
CY2022 | VBIV |
Increase Decrease In Operating Right Of Use Assets
IncreaseDecreaseInOperatingRightOfUseAssets
|
-1357000 | usd |
CY2021 | VBIV |
Increase Decrease In Operating Right Of Use Assets
IncreaseDecreaseInOperatingRightOfUseAssets
|
-1071000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
8893000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
356000 | usd |
CY2022 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
16000 | usd |
CY2021 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-328000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-2910000 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
11931000 | usd |
CY2022 | VBIV |
Operating Lease Proceeds And Payments
OperatingLeaseProceedsAndPayments
|
1347000 | usd |
CY2021 | VBIV |
Operating Lease Proceeds And Payments
OperatingLeaseProceedsAndPayments
|
1068000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-73695000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-39908000 | usd |
CY2021 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
25151000 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4344000 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1995000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4344000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
23156000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
33293000 | usd |
CY2021 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1067000 | usd |
CY2021 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
85000 | usd |
CY2022 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
12000 | usd |
CY2021 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
4000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
20000000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
12000000 | usd |
CY2022 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
563000 | usd |
CY2021 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
22000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
19449000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
44293000 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-475000 | usd |
CY2021 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
328000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-59065000 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
27869000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
121694000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
93825000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
62629000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
121694000 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3231000 | usd |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
2039000 | usd |
CY2022 | VBIV |
Non Cash Adjustments For Prior Periods From Adoption
NonCashAdjustmentsForPriorPeriodsFromAdoption
|
681000 | usd |
CY2021 | VBIV |
Warrants Modification In Connection With Debt Amendment
WarrantsModificationInConnectionWithDebtAmendment
|
867000 | usd |
CY2022 | VBIV |
Warrants Issued In Connection With Financing Transactions
WarrantsIssuedInConnectionWithFinancingTransactions
|
1550000 | usd |
CY2021 | us-gaap |
Stock Issued1
StockIssued1
|
4298000 | usd |
CY2021 | VBIV |
Common Shares Issued Upon Conversion Of Longterm Debt
CommonSharesIssuedUponConversionOfLongtermDebt
|
2000000 | usd |
CY2022 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
406000 | usd |
CY2021 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
185000 | usd |
CY2022 | VBIV |
Share Issuance Costs Included In Accounts Payable And Other Current Liabilities
ShareIssuanceCostsIncludedInAccountsPayableAndOtherCurrentLiabilities
|
67000 | usd |
CY2021 | VBIV |
Share Issuance Costs Included In Accounts Payable And Other Current Liabilities
ShareIssuanceCostsIncludedInAccountsPayableAndOtherCurrentLiabilities
|
50000 | usd |
CY2022 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80C_eus-gaap--NatureOfOperations_z64KmU898bS1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_826_zM0Uu7s5QyT6">NATURE OF BUSINESS AND CONTINUATION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Corporate Overview</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">VBI Vaccines Inc. (the “Company” or “VBI”) was incorporated under the laws of British Columbia, Canada on <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_dd_c20220101__20221231_zxtPYvd5XtCl" title="Entity incorporation, date of incorporation">April 9, 1965</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and its wholly-owned subsidiaries, VBI Vaccines (Delaware) Inc., a Delaware corporation (“VBI DE”); VBI DE’s wholly-owned subsidiary, Variation Biotechnologies (US), Inc., a Delaware corporation (“VBI US”); Variation Biotechnologies, Inc. a Canadian company and the wholly-owned subsidiary of VBI US (“VBI Cda”); SciVac Ltd. an Israeli company (“SciVac”); SciVac Hong Kong Limited (“SciVac HK”) and VBI Vaccines B.V a Netherlands company (“VBI BV”), are collectively referred to as the “Company”, “we”, “us”, “our”, or “VBI”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s registered office is located at Suite 1700, Park Place, 666 Burrard Street, Vancouver, BC V6C 2X8 with its principal office located at 160 Second Street, Floor 3, Cambridge, MA 02142. In addition, the Company has manufacturing facilities located in Rehovot, Israel and research facilities located in Ottawa, Ontario, Canada.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principal Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">VBI Vaccines Inc. (“VBI”) is a commercial stage biopharmaceutical company driven by immunology in the pursuit of prevention and treatment of disease. Through its innovative approach to virus-like particles (“VLPs”), including a proprietary enveloped VLP (“eVLP”) platform technology, VBI develops vaccine candidates that mimic the natural presentation of viruses, designed to elicit the innate power of the human immune system. VBI is committed to targeting and overcoming significant infectious diseases, including hepatitis B (“HBV”), COVID-19 and coronaviruses, and cytomegalovirus (“CMV”), as well as aggressive cancers including glioblastoma (“GBM”). VBI is headquartered in Cambridge, Massachusetts, with research operations in Ottawa, Canada, and a research and manufacturing site in Rehovot, Israel.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The COVID-19 pandemic has materially negatively affected the global economy, and the ongoing effects of the COVID-19 pandemic, including but not limited to, supply chain issues, global shortages of supplies, materials and products, volatile market conditions and rising global inflation, continue to do so. As a result of the COVID-19 pandemic, our business and results of operations were adversely affected and, as the ongoing effects of the COVID-19 pandemic continue to impact the global economy, these effects may continue to adversely affect our business and results of operations. The extent to which these effects will continue to impact our business will depend on future developments, which are highly uncertain and cannot be predicted. We do not yet know the full extent of potential delays or impacts on our business, our clinical studies, our research programs, the recoverability of our assets, and our manufacturing; however, the effects of the COVID-19 pandemic may continue to disrupt or delay our business operations, including with respect to efforts relating to potential business development transactions, and it could continue to disrupt the marketplace which could have an adverse effect on our operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity and Going Concern</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company faces a number of risks, including but not limited to, uncertainties regarding the success of the development and commercialization of its products, demand and market acceptance of the Company’s products, and reliance on major customers. The Company anticipates that it will continue to incur significant operating costs and losses in connection with the development and commercialization of its products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has an accumulated deficit of $<span id="xdx_90C_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn3n3_di_c20221231_zNOTE5mtsxpe">489,609 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and cash of $<span id="xdx_908_eus-gaap--Cash_iI_pn3n3_c20221231_zRyK4Ck22Dod">62,629</span> as of December 31, 2022. Cash outflows from operating activities were $<span id="xdx_908_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn3n3_di_c20220101__20221231_zxoUrTRDRAsj">73,695 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the year-ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will require significant additional funds to conduct clinical and non-clinical trials, commercially launch our products, and achieve regulatory approvals. Additional financing may be obtained from the issuance of equity securities, the issuance of additional debt, government or non-governmental organization grants or subsidies, and/or revenues from potential business development transactions, if any. There is no assurance the Company will manage to obtain these sources of financing, if required. The above conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--DescriptionOnVaccineDevelopment_pn3n3_c20220101__20221231_zaO0ROWL5Ht9" title="Description on vaccine development">On March 9, 2021, the Company and the Coalition for Epidemic Preparedness Innovations (“CEPI”) announced a partnership (“CEPI Funding Agreement”) to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant, through Phase I clinical development</span>. This funding will also support preclinical expansion of additional multivalent vaccine candidates designed to evaluate the potential breadth of our eVLP technology. The preclinical expansion is intended to develop clinic-ready vaccine candidates capable of addressing emerging variants. See more information on the CEPI Funding Agreement in Note 14.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 17, 2021, the Company entered into the First Amendment to the Loan and Guaranty Agreement and Affirmation of Pledge and Security Agreement (the “First Amendment”) with K2 HealthVentures LLC (“K2HV”) and any other lender from time-to-time party thereto. See Note 10 for more details.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2021, the Company issued <span id="xdx_902_ecustom--CommonSharesIssuedUponCashlessExerciseOfWarrantsShares_pid_c20210601__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerceptiveCreditHoldingsMember_z3pcmyAVQ2Re" title="Number of common stock issued">646,257</span> common shares to Perceptive Credit Holdings, LP and PCOF EQ AIV, LP (related parties), upon exercise of <span id="xdx_908_ecustom--CashLessExerciseOfWarrants_pid_c20210601__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PerceptiveCreditHoldingsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zG5qkmxcvcIg" title="Cashless exercise of warrants">2,068,824</span> warrants on a cashless “net exercise” basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 3, 2021, the Company entered into a second Open Market Sale Agreement<sup>SM</sup> with Jefferies LLC (“Jefferies”) to act as the Company’s sales agent and/or principal, for the issuance and sale of up to an additional $<span id="xdx_902_ecustom--OpenMarketSaleAgreementSales_pn3n3_c20210903__20220826__srt--RangeAxis__srt--MaximumMember__us-gaap--TypeOfArrangementAxis__custom--OpenMarketSaleAgreementMember__dei--LegalEntityAxis__custom--JefferiesLLCMember_zUOxwKKPjUK2" title="Open market sale agreement sales cost">125,000</span> of the Company’s common shares from time to time in an at-the-market public offering, which the Company could choose to use when no shares remain available for issuance under the first ATM Program. On July 31, 2020, the Company entered into an Open Market Sale Agreement with Jefferies, pursuant to which the Company may offer and sell its common shares having an aggregate price of up to $<span id="xdx_907_ecustom--OpenMarketSaleAgreementSales_pn3n3_c20200731__20220826__srt--RangeAxis__srt--MaximumMember__us-gaap--TypeOfArrangementAxis__custom--OpenMarketSaleAgreementMember__dei--LegalEntityAxis__custom--JefferiesLLCMember_zkhdJ7Rso2xb" title="Open market sale agreement sales cost">125,000</span> from time to time through Jefferies, acting as agent or principal (the “first ATM Program”). Common shares were offered pursuant to a sales agreement prospectus included in the Company’s automatic shelf registration on Form S-3 filed with the United States Securities and Exchange Commission (“SEC”) on July 31, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 1, 2022, we received a letter from the Listings Qualifications Department of Nasdaq indicating that, based upon the closing bid price of our common shares for the 30 consecutive business day period between May 18, 2022, through June 30, 2022, we did not meet the minimum bid price of $<span id="xdx_906_eus-gaap--SharePrice_iI_pid_c20220702__srt--RangeAxis__srt--MinimumMember_zA7BX6t9xyM9" title="Bid price">1.00</span> per share required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were provided an initial period of 180 calendar days, or until December 28, 2022, to regain compliance. On December 29, 2022, we were granted an additional 180-day grace period to regain compliance with the Minimum Bid Price Requirement. To regain compliance and qualify for continued listing on Nasdaq, the closing bid price of our common shares must be at least $1.00 for a minimum of 10 consecutive business days during the additional 180-day grace period, which will end on June 26, 2023. Nasdaq’s determination was based on our meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on Nasdaq, with the exception of the Minimum Bid Price Requirement, and our written notice of our intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. We have not regained compliance as of the date of this filing, and if we fail to regain compliance during this grace period, our common shares will be subject to delisting by Nasdaq, which could seriously decrease or eliminate the value of an investment in our common shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 26, 2022, the Company 1) filed a registration statement for a base prospectus which covers the offering, issuance and sale of up to $<span id="xdx_908_ecustom--RemainingShareValueRelatedToBaseProspectus_pn3n3_c20220825__20220826__us-gaap--TypeOfArrangementAxis__custom--BaseProspectusMember__srt--RangeAxis__srt--MaximumMember_z6VA0Wad8fHl" title="Issuance and sale of common shares">300,000</span> of common shares, warrants, units and/or subscription rights; and 2) entered into an Open Market Sale Agreement with Jefferies, pursuant to which the Company may offer and sell its common shares having an aggregate price of up to $<span id="xdx_90E_ecustom--RemainingShareValueRelatedToATMProgram_pn3n3_c20220825__20220826__us-gaap--TypeOfArrangementAxis__custom--CurrentATMProgramMember__srt--RangeAxis__srt--MaximumMember_zStR1lCOZnQ9" title="Share value remaining, available for sale">125,000</span> from time to time through Jefferies, acting as agent or principal (the “ATM Program”). The ATM Program replaces Open Market Sale Agreements previously entered into with Jefferies on July 31, 2020, and September 3, 2021, pursuant to each of which we could offer and sell our common shares having an aggregate price of up to $<span id="xdx_905_ecustom--OriginalShareValueRelatedToAtmProgram_pn3n3_c20200701__20220826__us-gaap--TypeOfArrangementAxis__custom--FirstATMProgramMember_zu5pQBYtE0S8" title="Original share value related to ATM Program"><span id="xdx_90F_ecustom--OriginalShareValueRelatedToAtmProgram_pn3n3_c20210903__20220826__us-gaap--TypeOfArrangementAxis__custom--SecondATMProgramMember_zJYMWbI4FWGh" title="Original share value related to ATM Program">125,000</span></span> from time to time, through ATM equity offering programs. Both ATM programs were terminated, effective as of August 26, 2022. Prior to termination, $<span id="xdx_909_ecustom--RemainingShareValueRelatedToATMProgram_pn3n3_c20220825__20220826__us-gaap--TypeOfArrangementAxis__custom--OpenMarketSaleAgreementMember__us-gaap--AwardTypeAxis__custom--FirstAtTheMarketMember_zwZ4FHn1yF15" title="Share value remaining, available for sale">27,022</span> of our common shares remained available for sale pursuant to the first ATM program, and $<span id="xdx_903_ecustom--RemainingShareValueRelatedToATMProgram_pn3n3_c20210903__20220826__us-gaap--TypeOfArrangementAxis__custom--FirstATMProgramMember_zVvssHOEHEL5" title="Share value remaining, available for sale">125,000</span> of our common shares remained available for sale pursuant to the second ATM program. Neither ATM program was utilized in 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2022, the Company refinanced its existing term loan facility with K2HV to increase the amount of term loans available to $<span id="xdx_90E_ecustom--IncreaseInAmountOfTermLoansAvailable_iI_pn3n3_c20220930__dei--LegalEntityAxis__custom--K2HealthventuresLLCMember_zDlpQCPwVs8d" title="Increase amount of term loans available">100,000</span> among other items. See Note 10 for more details. The refinanced long-term debt has a maturity date of September 14, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1965-04-09 | |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-489609000 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
62629000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-73695000 | usd |
CY2022 | VBIV |
Description On Vaccine Development
DescriptionOnVaccineDevelopment
|
On March 9, 2021, the Company and the Coalition for Epidemic Preparedness Innovations (“CEPI”) announced a partnership (“CEPI Funding Agreement”) to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant, through Phase I clinical development | |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_845_eus-gaap--UseOfEstimates_zZPlkE1yVWlc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zLHmMaFQ5v7d">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of the consolidated financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include revenue recognition, determining the deferred tax valuation allowance, estimating accrued research and development expenses, the inputs in determining the fair value of the in-process research and development (“IPR&D”) and goodwill as part of the annual impairment analysis and the inputs in determining the fair value of equity-based awards and warrants issued. Actual results may differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zrdEyqAsXQZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zkR6rD4uL7ta">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and accounts receivable. We place our cash primarily in commercial checking accounts. Commercial bank balances may from time to time exceed federal insurance limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not experienced any losses in cash and accounts receivable for the years ended December 31, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver. The Company has deposit accounts at SVB. The standard deposit insurance amount is up to $<span id="xdx_902_ecustom--StandardDepositInsurance_iI_c20230310__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zeEBZJRf1p8k" title="Standard deposit insurance">250</span> per depositor, per insured bank, for each account ownership category. As of March 10, 2023, the Company had approximately $<span id="xdx_900_eus-gaap--DepositAssets_iI_c20230310__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSw8bgHYoaRg">1,200</span> in deposit accounts at SVB. On March 12, 2023, the U.S. Treasury, Federal Reserve, and FDIC announced that SVB depositors will have access to all of their money starting March 13, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2021Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
3633000 | usd |
CY2022 | VBIV |
Schedule Of Estimated Useful Lives Of Property And Equipment
ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipment
|
<p id="xdx_89E_ecustom--ScheduleOfEstimatedUsefulLivesOfPropertyAndEquipment_zs8ZkCMTEZo6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The assets are depreciated by the straight-line method over the estimated useful lives of the related assets as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B6_zubM6WEO6chh" style="display: none; font-family: Times New Roman, Times, Serif">SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 62%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and office equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zUuH08h3QQs7" title="Property, Plant and Equipment, Useful Life">5</span>-<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zjuZ47bLIK4b" title="Property, Plant and Equipment, Useful Life">14</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_z6zJPjCGL0T2" title="Property, Plant and Equipment, Useful Life">3</span>-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zZ05TonmQyGe" title="Property, Plant and Equipment, Useful Life">7</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computers</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MinimumMember_zPg5lxSCyLu8" title="Property, plant and equipment, useful life">2</span>-<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MaximumMember_z0xv7rHjecy6" title="Property, plant and equipment, useful life">3</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentEstimatedUsefulLives_dtY_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zAFMxcwC4jEd" title="Property, plant and equipment, useful lives">shorter of useful life or the term of the lease</span></span></td></tr> </table> | |
CY2022 | VBIV |
Annual Impairment Test Description
AnnualImpairmentTestDescription
|
Some of the more significant estimates and assumptions inherent in the estimate of the fair value of IPR&D assets including: 1) the amount and timing of costs to develop the IPR&D into viable products; 2) the amount and timing of future cash inflows; 3) the discount rate; and 4) the probability of technical and regulatory success. The discount rate used was 12% and the cumulative probability of technical and regulatory success to achieve approval to market the products ranged from approximately 10% to 17% | |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20234000 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
56510000 | usd |
CY2021Q4 | us-gaap |
Debt Instrument Fair Value
DebtInstrumentFairValue
|
30406000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
7981000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
12253000 | usd |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
6059000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
893000 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
1869000 | usd |
CY2021Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
645000 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
3837000 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
1931000 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
6599000 | usd |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
2576000 | usd |
CY2022 | VBIV |
Inventory Reserve
InventoryReserve
|
1186000 | usd |
CY2021 | VBIV |
Inventory Reserve
InventoryReserve
|
174000 | usd |
CY2022Q4 | us-gaap |
Government Contract Receivable
GovernmentContractReceivable
|
4033000 | usd |
CY2021Q4 | us-gaap |
Government Contract Receivable
GovernmentContractReceivable
|
1438000 | usd |
CY2022Q4 | VBIV |
Other Current Assets
OtherCurrentAssets
|
2026000 | usd |
CY2021Q4 | VBIV |
Other Current Assets
OtherCurrentAssets
|
2195000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
15996000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4959000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11037000 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
2009000 | usd |
CY2021 | us-gaap |
Depreciation
Depreciation
|
1768000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
62169000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-669000 | usd |
CY2022 | VBIV |
Finite Lived Intangible Assets Cumulative Impairment Charge
FiniteLivedIntangibleAssetsCumulativeImpairmentCharge
|
-300000 | usd |
CY2022 | VBIV |
Finite Lived Intangible Assets Cumulative Currency Translation
FiniteLivedIntangibleAssetsCumulativeCurrencyTranslation
|
-2855000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
58345000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
62169000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-660000 | usd |
CY2021 | VBIV |
Finite Lived Intangible Assets Cumulative Impairment Charge
FiniteLivedIntangibleAssetsCumulativeImpairmentCharge
|
-300000 | usd |
CY2021 | VBIV |
Finite Lived Intangible Assets Cumulative Currency Translation
FiniteLivedIntangibleAssetsCumulativeCurrencyTranslation
|
882000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
62091000 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
52000 | usd |
CY2021 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
67000 | usd |
CY2022 | us-gaap |
Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
|
3690000 | usd |
CY2021 | us-gaap |
Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
|
2000 | usd |
CY2022Q4 | us-gaap |
Goodwill Gross
GoodwillGross
|
8714000 | usd |
CY2022Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
6292000 | usd |
CY2022Q4 | VBIV |
Goodwill Cumulative Currency Translation
GoodwillCumulativeCurrencyTranslation
|
-295000 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
2127000 | usd |
CY2021Q4 | us-gaap |
Goodwill Gross
GoodwillGross
|
8714000 | usd |
CY2021Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
6292000 | usd |
CY2021Q4 | VBIV |
Goodwill Cumulative Currency Translation
GoodwillCumulativeCurrencyTranslation
|
-161000 | usd |
CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
2261000 | usd |
CY2022 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
134000 | usd |
CY2021 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
0 | usd |
CY2022Q4 | VBIV |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
6561000 | usd |
CY2021Q4 | VBIV |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
8196000 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
3250000 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
2294000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4036000 | usd |
CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4805000 | usd |
CY2022Q4 | VBIV |
Deferred Funding Current
DeferredFundingCurrent
|
6966000 | usd |
CY2021Q4 | VBIV |
Deferred Funding Current
DeferredFundingCurrent
|
10183000 | usd |
CY2022Q4 | VBIV |
Other Current Liabilities
OtherCurrentLiabilities
|
1775000 | usd |
CY2021Q4 | VBIV |
Other Current Liabilities
OtherCurrentLiabilities
|
1463000 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
22588000 | usd |
CY2021Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
26941000 | usd |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
32571391 | shares |
CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
21328040 | shares |
CY2021 | us-gaap |
Severance Costs1
SeveranceCosts1
|
16000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
48888000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
28441000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
48888000 | usd |
CY2021Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
28441000 | usd |
CY2022 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
55699000 | usd |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
3515000 | usd |
CY2021 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2105000 | usd |
CY2022 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
1707000 | usd |
CY2021 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2999000 | usd |
CY2022 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-172000 | usd |
CY2022 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
1387000 | usd |
CY2021 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
372000 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
4007000 | usd |
CY2021 | us-gaap |
Interest Expense
InterestExpense
|
4732000 | usd |
CY2022 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
442000 | usd |
CY2021 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
352000 | usd |
CY2021 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
|
0.0833 | pure |
CY2022 | us-gaap |
Severance Costs1
SeveranceCosts1
|
5000 | usd |
CY2021Q4 | VBIV |
Deferred Tax Assets Deferred Financing Costs
DeferredTaxAssetsDeferredFinancingCosts
|
1779000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
98580000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
87169000 | usd |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
22844620 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.38 | |
CY2022Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
22841970 | shares |
CY2022 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
|
P7Y2M19D | |
CY2022Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
15563719 | shares |
CY2022Q4 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
|
2.51 | |
CY2022 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P6Y6M14D | |
CY2021 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P6Y6M | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2022Q4 | VBIV |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value Vested
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValueVested
|
0 | usd |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
0 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.9323 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.9687 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0175 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0059 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M29D | |
CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y10M6D | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.13 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.40 | |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9698000 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9628000 | usd |
CY2022Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
8950000 | usd |
CY2022 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y5M4D | |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1082000 | usd |
CY2021 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
631000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
98580000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
87169000 | usd |
CY2022Q4 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
2613000 | usd |
CY2020Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
3104000 | usd |
CY2021Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2803000 | usd |
CY2022 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
66000 | usd |
CY2022 | VBIV |
Contract With Customer Liability Currency Translation
ContractWithCustomerLiabilityCurrencyTranslation
|
124000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2613000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
409000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
2204000 | usd |
CY2018Q4 | VBIV |
Additional Potential Regulatory And Sales Milestone Payments
AdditionalPotentialRegulatoryAndSalesMilestonePayments
|
117500000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2613000 | usd |
CY2022 | VBIV |
Description Of Vaccine Development
DescriptionOfVaccineDevelopment
|
On March 9, 2021, the Company and CEPI announced the CEPI Funding Agreement, to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and as 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant strain, through Phase I clinical development | |
CY2022 | VBIV |
Funding Received
FundingReceived
|
964000 | usd |
CY2020Q3 | VBIV |
Contribution Agreement Description
ContributionAgreementDescription
|
(i) 75% of VBI Cda’s costs incurred in respect of the Project, subject to certain eligibility limitations as set forth in the Contribution Agreement and (ii) CAD $56 million from the SIF to support the development of our coronavirus vaccine program, VBI-2900, though Phase II clinical studies (the “Project”). | |
CY2021Q4 | VBIV |
Deferred Tax Assets Debt Obligation
DeferredTaxAssetsDebtObligation
|
-1757000 | usd |
CY2022Q4 | VBIV |
Deferred Tax Assets Deferred Financing Costs
DeferredTaxAssetsDeferredFinancingCosts
|
1201000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-113303000 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-69753000 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-113303000 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-69753000 | usd |
CY2022 | VBIV |
Income Tax Reconciliation Expected Benefit Of Income Tax
IncomeTaxReconciliationExpectedBenefitOfIncomeTax
|
-30025000 | usd |
CY2021 | VBIV |
Income Tax Reconciliation Expected Benefit Of Income Tax
IncomeTaxReconciliationExpectedBenefitOfIncomeTax
|
-18485000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
-386000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
1970000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
12562000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
19099000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
2771000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
1313000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
2362000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
|
2387000 | usd |
CY2022 | VBIV |
Income Tax Reconciliation Of Foreign Exchange On Unrecognized Temporary Differences
IncomeTaxReconciliationOfForeignExchangeOnUnrecognizedTemporaryDifferences
|
10814000 | usd |
CY2021 | VBIV |
Income Tax Reconciliation Of Foreign Exchange On Unrecognized Temporary Differences
IncomeTaxReconciliationOfForeignExchangeOnUnrecognizedTemporaryDifferences
|
-4574000 | usd |
CY2022 | VBIV |
Income Tax Reconciliation Repatriation Of Foreign Earning
IncomeTaxReconciliationRepatriationOfForeignEarning
|
-308000 | usd |
CY2021 | VBIV |
Income Tax Reconciliation Repatriation Of Foreign Earning
IncomeTaxReconciliationRepatriationOfForeignEarning
|
480000 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
240000 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-220000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
98147000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
86397000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
13995000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
14102000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
1072000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
|
1050000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
2253000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
1996000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
-15461000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
-16454000 | usd |
CY2022Q4 | VBIV |
Allowable Capital Losses
AllowableCapitalLosses
|
56000 | usd |
CY2021Q4 | VBIV |
Allowable Capital Losses
AllowableCapitalLosses
|
56000 | usd |
CY2022Q4 | VBIV |
Deferred Tax Assets Debt Obligation
DeferredTaxAssetsDebtObligation
|
-2683000 | usd |
CY2022Q4 | VBIV |
Net Operating Loss Carryforwards
NetOperatingLossCarryforwards
|
409363000 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
409363000 | usd |
CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1865000 | usd |
CY2021 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1463000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y11M15D | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.13 | pure |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1327000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1228000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
719000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
619000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
168000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
4061000 | usd |
CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
724000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
3337000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
972000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
2365000 | usd |
CY2022 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1082000 | usd |
CY2021 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
631000 | usd |
CY2022Q4 | VBIV |
Property Plant And Equipment And Operating Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
15569000 | usd |
CY2021Q4 | VBIV |
Property Plant And Equipment And Operating Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
14381000 | usd |