0001117480-22-000008 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 15,397	$ 46,989
Short-term investments, available-for-sale	72,970	31,973
Accounts receivable	0	340
Inventories	2,760	0
Prepaid expenses and other current assets	4,678	2,356
Total current assets	95,805	81,658
Long-term investments	2,022	0
Property and equipment, net of accumulated depreciation	253	214
Operating lease right-of-use assets	2,404	2,825
Other long-term assets	56	26
Total assets	100,540	84,723
Current liabilities:
Accounts payable	2,788	1,283
Accrued liabilities	13,108	7,250
Note payable	14,000	0
Total current liabilities	29,896	8,533
Operating Lease Long-term Liabilities (recorded within Lease-related obligations)	2,392	2,814
Total liabilities	32,288	11,347
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000,000 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding as of December 31, 2021 and 2020	0	0
Common stock, $0.001 par value; 200,000,000 shares authorized at December 31, 2021 and 2020; 86,884,266 and 62,816,039 shares issued and outstanding at December 31, 2021 and 2020, respectively	87	63
Additional paid-in capital	953,782	785,673
Accumulated other comprehensive loss, net	(21)	0
Accumulated deficit	(885,596)	(712,360)
Total stockholders’ equity	68,252	73,376
Total liabilities and stockholders’ equity	$ 100,540	$ 84,723

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	86,884,266	62,816,039
Common stock, shares outstanding (in shares)	86,884,266	62,816,039

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues	$ 1,979	$ 5,372	$ 12,519
Operating expenses:
Research and development	73,817	36,232	42,288
General and administrative	18,672	13,656	21,169
Acquired in-process research and development	82,890	0	65,045
Total operating expenses	175,379	49,888	128,502
Loss from operations	(173,400)	(44,516)	(115,983)
Other income:
Interest income and other, net	164	994	3,407
Net loss	(173,236)	(43,522)	(112,576)
Other comprehensive loss:
Unrealized (loss) gain on investments, net	(21)	(35)	127
Comprehensive loss	$ (173,257)	$ (43,557)	$ (112,449)
Per share information:
Net loss, basic (in dollars per share)	$ (2.04)	$ (0.70)	$ (2.03)
Net loss, diluted (in dollars per share)	$ (2.04)	$ (0.70)	$ (2.03)
Weighted-average shares outstanding, basic (in shares)	84,930,255	62,183,947	55,501,973
Weighted-average shares outstanding, diluted (in shares)	84,930,255	62,183,947	55,501,973
Contract and grant revenue
Revenues:
Revenues	$ 1,928	$ 5,274	$ 7,604
Licensing revenue
Revenues:
Revenues	$ 51	$ 98	$ 4,915

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2018	$ 177,604	$ 51	$ 733,907	$ (92)	$ (556,262)
Beginning balance (in shares) at Dec. 31, 2018		50,735,279
Increase (Decrease) in Stockholders' Equity
Share-based compensation	9,528		9,528
Exercise of stock options	43		43
Exercise of stock options (in shares)		19,284
Employee stock purchase plan purchases	326		326
Employee stock purchase plan purchases (in shares)		209,075
RSU stock issuance	0	$ 1	(1)
RSU stock issuance (in shares)		626,375
Issuance of common stock, net of issuance costs	34,900	$ 10	34,890
Issuance of common stock, net of issuance costs (in shares)		10,000,000
Comprehensive loss:
Unrealized (loss) gain on investments, net	127			127
Net loss	(112,576)				(112,576)
Comprehensive loss	(112,449)
Ending balance (in shares) at Dec. 31, 2019		61,590,013
Ending Balance at Dec. 31, 2019	109,952	$ 62	778,693	35	(668,838)
Increase (Decrease) in Stockholders' Equity
Share-based compensation	5,568		5,568
Exercise of stock options	$ 987	$ 1	986
Exercise of stock options (in shares)	409,988	409,988
Employee stock purchase plan purchases	$ 426		426
Employee stock purchase plan purchases (in shares)		337,072
RSU stock issuance (in shares)		478,966
Comprehensive loss:
Unrealized (loss) gain on investments, net	(35)			(35)
Net loss	(43,522)				(43,522)
Comprehensive loss	(43,557)
Ending balance (in shares) at Dec. 31, 2020		62,816,039
Ending Balance at Dec. 31, 2020	73,376	$ 63	785,673	0	(712,360)
Increase (Decrease) in Stockholders' Equity
Share-based compensation	12,260		12,260
Exercise of stock options	$ 3,831	$ 1	3,830
Exercise of stock options (in shares)	909,997	841,775
Employee stock purchase plan purchases	$ 755	$ 1	754
Employee stock purchase plan purchases (in shares)		542,931
RSU stock issuance (in shares)		430,002
Issuance of common stock related to asset acquisition	43,445	$ 9	43,436
Issuance of common stock related to asset acquisition (in shares)		8,723,769
Issuance of common stock, net of issuance costs	107,842	$ 13	107,829
Issuance of common stock, net of issuance costs (in shares)		13,529,750
Comprehensive loss:
Unrealized (loss) gain on investments, net	(21)			(21)
Net loss	(173,236)				(173,236)
Comprehensive loss	(173,257)
Ending balance (in shares) at Dec. 31, 2021		86,884,266
Ending Balance at Dec. 31, 2021	$ 68,252	$ 87	$ 953,782	$ (21)	$ (885,596)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (173,236)	$ (43,522)	$ (112,576)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	167	402	564
Amortization of discount/premium on investments	846	(190)	(1,842)
Share-based compensation	12,260	5,568	9,528
Fair value of common stock issued related to asset acquisition	43,445	0	0
Note payable related to asset acquisition	14,000	0	0
Fair value of common stock issued for license agreement	0	0	34,900
(Gain)/Loss on disposition of assets	0	(10)	264
(Gain)/Loss on sale of investments	(2)	(4)	31
Lease-related amortization	301	(14)	(76)
Changes in operating assets and liabilities:
Accounts receivable	340	893	(903)
Inventories	(2,760)	0	0
Prepaid expenses and other assets	(2,352)	1,025	(777)
Accounts payable and accrued liabilities	7,061	(186)	(4,294)
Net cash used in operating activities	(99,930)	(36,038)	(75,181)
Cash flows from investing activities:
Purchases of property and equipment	(207)	(58)	(158)
Purchases of short-term investments	(105,355)	(73,978)	(167,528)
Purchases of long-term investments	(9,594)	0	0
Proceeds from sales of short-term investments	4,207	17,287	13,117
Proceeds from maturities of short-term investments	66,858	121,452	165,200
Proceeds from sale of property and equipment	0	10	0
Net cash (used in) provided by investing activities	(44,091)	64,713	10,631
Cash flows from financing activities:
Proceeds from exercise of stock options	3,831	987	43
Proceeds from employee stock purchase plan	755	426	325
Proceeds from issuance of common stock, net of commissions	107,843	0	0
Payments of deferred offering costs	0	0	(23)
Net cash provided by financing activities	112,429	1,413	345
Net (decrease) increase in cash and cash equivalents	(31,592)	30,088	(64,205)
Beginning of period	46,989	16,901	81,106
End of period	15,397	46,989	16,901
Supplemental disclosure of cash flow information
Non-cash purchases of property and equipment	$ 0	$ 18	$ 0

The Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

The Business and Summary of Significant Accounting Policies

Description of Business

Chimerix is a biopharmaceutical company whose mission it is to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. In June 2021, the U.S. Food and Drug Administration (FDA) approved TEMBEXA (brincidofovir) for the treatment of smallpox as a medical countermeasure. Our two most advanced clinical-stage development programs are ONC201 and dociparstat sodium (DSTAT). ONC201 is in development for recurrent H3 K27M-mutant glioma. DSTAT is in Phase 3 development as a potential first-line therapy in acute myeloid leukemia (AML).

Basis of Presentation

The consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation of the Company’s consolidated financial statements requires estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Although these estimates are based on knowledge of current events and actions the Company may undertake in the future, actual results may ultimately differ from these estimates and assumptions.

Reclassifications

Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported net income or stockholders' equity (deficit).

Cash and Cash Equivalents

The Company considers any highly liquid instrument with an original maturity of three months or less at acquisition to be a cash equivalent. Cash equivalents consist of money market funds.

Investments

Investments consist primarily of commercial paper, corporate bonds, and U.S. Treasury securities. The Company invests in high-credit quality investments in accordance with its investment policy which minimizes the probability of loss.

Available-for-sale debt securities are carried at fair value as determined by quoted market prices, with the unrealized gains and losses, net of tax, reported as a separate component of stockholders’ equity. Realized gains and losses are determined using the specific identification method and transactions are recorded on a settlement date basis in interest income and other, net. For the year ended December 31, 2021, approximately $2,000 of realized gains were reclassified from accumulated other comprehensive loss, net in the Consolidated Balance Sheets to interest income and other, net in the Consolidated Statements of Operations and Comprehensive Loss. Investments with original maturities beyond three months at the date of purchase and which mature on, or less than twelve months from, the balance sheet date are classified as short-term. Investments with a maturity beyond twelve months from the balance sheet date are classified as long-term.

The Company periodically reviews available-for-sale debt securities for other-than-temporary declines in fair value below the cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates, among other things, the duration and extent to which the fair value of a security is less than its cost; the financial condition of the issuer and any changes thereto; and the Company’s intent to sell, or whether it will more likely than not be required to sell, the security before recovery of its amortized cost basis. The Company does not intend to sell, and is not likely to be required to sell, the available-for-sale debt securities in an unrealized loss position before recovery of the amortized cost bases of the debt securities, which may be maturity. Any such declines in value judged to be other-than-temporary on available-for-sale debt securities are reported in other-than-temporary impairment of investment.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, short-term investments, long-term investments and accounts receivable. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the balance sheets. Accounts receivable represent amounts due from an agency of the federal government.

Accounts Receivable

Accounts receivable at December 31, 2020 consisted of amounts billed under the Company’s contract with the Biomedical Advanced Research and Development Authority (BARDA). Receivables under the BARDA contract are recorded as qualifying research activities are conducted and invoices from the Company’s vendors are received. The Company carries its accounts receivable at cost less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance based on its history of collections and write-offs and the current status of all receivables. The Company does not accrue interest on trade receivables. If accounts become uncollectible, they will be written off through a charge to the allowance for doubtful accounts. The Company has not recorded a charge to allowance for doubtful accounts as management believes all receivables are fully collectible.

Fair Value of Financial Instruments

The carrying amounts of certain financial instruments, including accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term nature of such instruments.

For assets and liabilities recorded at fair value, it is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets and liabilities where there exists limited or no observable market data are based primarily upon estimates and are often calculated based on the economic and competitive environment, the characteristics of the asset or liability and other factors. Therefore, fair value measurements cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there may be inherent weaknesses in any calculation technique and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the calculated current or future fair values. The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures.

The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The determination of where an asset or liability falls in the hierarchy requires significant judgment. These levels are:

•Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.

•Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and models for which all significant inputs are observable, either directly or indirectly.

•Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

At December 31, 2021 and December 31, 2020, the Company had cash equivalents, including money market funds, and short-term investments, including U.S. Treasury securities, whose value is based on using quoted market prices. At December 31, 2021, the Company had long-term investments, including U.S. Treasury securities, whose value is based on using quoted market prices. Accordingly, these securities are classified as Level 1.

At December 31, 2021, the Company had short-term investments, including commercial paper, corporate bonds and U.S. Treasury securities. At December 31, 2020, the Company had short-term investments including corporate bonds. As quoted prices are not available for these securities, they are valued using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Accordingly, these securities are classified as Level 2.

There was no material re-measurement to fair value of financial assets and liabilities that are not measured at fair value on a recurring basis. For additional information regarding the Company’s investments, please refer to Note 2, "Investments."

Below is a table that presents information about certain assets measured at fair value on a recurring basis (in thousands):


			Fair Value Measurements
			December 31, 2021
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	11,841	$	11,841	$	—	$	—



Total cash equivalents	11,841		11,841		—		—
Short-term investments

U.S. Treasury securities	7,517		2,523		4,994		—

Commercial paper	34,887		—		34,887		—
Corporate bonds	30,566		—		30,566		—
Total short-term investments	72,970		2,523		70,447		—
Long-term investments

U.S. Treasury securities	2,022		2,022		—		—
Total long-term investments	2,022		2,022		—		—
Total assets	$	86,833	$	16,386	$	70,447	$	—


			Fair Value Measurements
			December 31, 2020
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	1,503	$	1,503	$	—	$	—




Total cash equivalents	1,503		1,503		—		—
Short-term investments

U.S. Treasury securities	28,715		28,715		—		—


Corporate bonds	3,258		—		3,258		—
Total short-term investments	31,973		28,715		3,258		—





Total assets	$	33,476	$	30,218	$	3,258	$	—

Inventories

We consider regulatory approval of product candidates to be uncertain and product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. As such, the manufacturing costs for product candidates incurred prior to regulatory approval are not capitalized as inventory but are expensed as research and development costs. We begin capitalization of these inventory related costs once regulatory approval is obtained. We primarily use actual costs to determine our cost basis for inventories.

At December 31, 2021, our inventory is related to TEMBEXA, which is being manufactured for the treatment of smallpox and potential delivery to the Strategic National Stockpile (SNS) for the U.S. government and other government agencies. TEMBEXA was approved by the FDA on June 4, 2021, at which time we began to capitalize inventory costs associated with TEMBEXA. Prior to FDA approval of TEMBEXA, all costs related to the manufacturing of TEMBEXA were charged to research and development expense in the period incurred as there was no alternative future use.

We value our inventories at the lower of cost or estimated net realizable value. We determine the cost of its inventories, which includes amounts related to materials, manufacturing costs, shipping and handling costs on a first-in, first-out (FIFO) basis.

Work-in-process includes all inventory costs prior to packaging and labelling, including raw material, active product ingredient, and drug product. Finished goods include packaged and labelled products. Our inventories at December 31, 2021, consisted of $2.8 million of work-in-process and no finished goods.

Our assessment of market value requires the use of estimates regarding the net realizable value of its inventory balances, including an assessment of excess or obsolete inventory. Our determination that a valuation reserve might be required, in addition to the quantification of such reserve, requires it to utilize judgment. We determine excess or obsolete inventory based on multiple factors, including an estimate of the future demand for its products, product expiration dates and current sales levels. Our assumptions of future demand for its products are inherently uncertain and if we were to change any of these judgments or estimates, it could cause a material increase or decrease in the amount of inventory reserves that we report in a particular period. In addition, our inventory may experience expiration of its shelf-life stability. During the twelve months ended December 31, 2021, we did not record a reserve for inventory as we assume TEMBEXA will be sold to the US government under a procurement contract with Biomedical Advanced Research and Development Authority (BARDA) or could be sold to other governmental agencies. Should no procurement contract be secured in the future, we may reserve part or all of our inventory balance, which would be included in cost of sales.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31,
	2021		2020
Prepaid research and development expenses	$	1,726	$	1,167
Interest receivable	348		104
Prepaid insurance	450		354
Other prepaid expenses and current assets	2,154		731
Total prepaid expenses and other current assets	$	4,678	$	2,356

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation. Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which generally range from three to five years. Leasehold improvements are amortized over the shorter of the useful life of the asset or the term of the related lease. Maintenance and repairs are charged against expense as incurred.

Impairment of Property and Equipment

The Company evaluates property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value. For the twelve months ended December 31, 2021 and 2020, no such write-downs have occurred.

Leases

At the inception of an arrangement, we determine if an arrangement is, or contains, a lease based on the unique facts and circumstances present in that arrangement. Lease classification, recognition, and measurement are then determined at the lease commencement date. For arrangements that contain a lease we (i) identify lease and non-lease components, (ii) determine the consideration in the contract, (iii) determine whether the lease is an operating or financing lease; and (iv) recognize lease right-of-use (ROU) assets and liabilities. Lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable and as such, we use our incremental borrowing rate based on the information available at the lease commencement date, which represents an internally developed rate that would be incurred to borrow, on a collateralized basis, over a similar term, an amount equal to the lease payments in a similar economic environment.

Most leases include options to renew and, or, terminate the lease, which can impact the lease term. The exercise of these options is at our discretion and we do not include any of these options within the expected lease term as we are not reasonably certain we will exercise these options.

The current portion of our operating lease liabilities is included in accrued liabilities and the long-term portion is included in lease-related obligations.

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	December 31,
	2021		2020
Accrued compensation	$	5,491	$	4,473
Accrued research and development expenses	4,642		1,375

Accrued legal expenses	359		651
Other accrued liabilities	2,616		751
Total accrued liabilities	$	13,108	$	7,250

Revenue Recognition

Policy

The Company’s revenues generally consist of (i) contract revenue - revenue generated under federal contracts, and (ii) collaboration and licensing revenue - revenue related to non-refundable upfront fees, royalties and milestone payments earned under license agreements. Revenue is recognized in accordance with the criteria outlined in Accounting Standards Codification (ASC) 606 issued by the Financial Accounting Standards Board (FASB). Following this accounting pronouncement, a five-step approach is applied for recognizing revenue, including (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation.

Biomedical Advanced Research and Development Authority (BARDA)

In February 2011, the Company entered into a contract with BARDA for the advanced development of brincidofovir as a medical countermeasure in the event of a smallpox release. Under the contract, the Company received $72.5 million in expense reimbursement and $4.6 million in fees over the performance of 1 base segment and 4 option segments. Exercise of each option segment was solely at the discretion of BARDA. The Company assessed the services in accordance with the authoritative guidance and concluded that there was a potential of 5 separate contracts (1 base segment and four option segments) within this agreement, each of which had a single performance obligation. All option segments (one through four) were exercised, as well as the base segment. The transaction price for each segment, based on the transaction price as defined in each segment contract, was allocated to the single performance obligation for each contract. The transaction price was recognized over time by measuring the progress toward complete satisfaction of the performance obligation. For reimbursable expenses, this occurred as qualifying research activities were conducted based on invoices from company vendors. For the fixed fee, the progress toward complete satisfaction was estimated based on the costs incurred to date relative to the total estimated costs per the terms of each contract. The Company typically invoiced BARDA monthly as costs were incurred. Any amounts received in advance of performance were recorded as deferred revenue until earned. The base segment and first option segment were completed prior to adoption of ASC 606. The second and third option segments were completed on August 20, 2020. The fourth option segment was completed on September 1, 2021 and the contract has expired in accordance with its terms.

Grant Revenue

Grant revenue under cost-plus-fixed-fee grants from the federal government and private foundations is recognized as allowable costs are incurred and fees are earned. As a result of its acquisition of Oncoceutics, Inc. (Oncoceutics), the Company became the beneficiary of two federal grant programs and two grant programs with private foundations, of which the federal grant programs ended in the third quarter of 2021. At December 31, 2021, the Company has a deferred revenue balance of $0.2 million related to these grants. Additionally, for the twelve months ended months ended December 31, 2021, the Company recognized $0.4 million of grant revenue related to these grants.

SymBio Pharmaceuticals

On September 30, 2019, the Company entered into a license agreement with SymBio Pharmaceuticals Limited (SymBio) under which the Company granted SymBio exclusive worldwide rights to develop, manufacture and commercialize BCV for all human indications, excluding the prevention and treatment of orthopoxviruses, including smallpox. The Company assessed the agreement in accordance with the authoritative guidance and concluded that the SymBio contract includes multiple performance obligations. The SymBio contract has one fixed transaction amount of a $5.0 million upfront payment received in October 2019 and several variable transaction amounts, up to $180.0 million, due to the Company at certain regulatory and commercial milestones, along with low double-digit percent royalties based on net sales of BCV. All variable transaction amounts are fully constrained, therefore the allocated transaction price is $5.0 million. The majority of the transaction price of the contract has been allocated to the combined performance obligation of the granting of the license to BCV and associated technology transfer which was recognized when the technology transfer was completed in the fourth quarter of 2019. The revenue from regulatory and commercial milestones and royalties from net sales will be recognized upon the occurrence of the triggering events or when those transaction amounts are no longer fully constrained.

Research and Development Prepaids and Accruals

As part of the process of preparing financial statements, the Company is required to estimate its expenses resulting from its obligation under contracts with vendors and consultants and clinical site agreements in connection with its research and development efforts. The financial terms of these contracts are subject to negotiations which vary contract to contract and may result in payment flows that do not match the periods over which materials or services are provided to the Company under such contracts.

The Company’s objective is to reflect the appropriate research and development expenses in its financial statements by matching those expenses with the period in which services and efforts are expended. The Company accounts for these expenses according to the progress of its research and development efforts. The Company determines prepaid and accrual estimates through discussion with applicable personnel and outside service providers as to the progress or state of communication of clinical trials, or other services completed. The Company adjusts its rate of research and development expense recognition if actual results differ from its estimates. The Company makes estimates of its prepaid and accrued expenses as of each balance sheet date in its financial statements based on facts and circumstances known at that time. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of status and timing of services performed relative to the actual status and timing of services performed may vary and may result in the Company reporting amounts that are too high or too low for any particular period. Through December 31, 2021, there had been no material adjustments to the Company’s prior period estimates of prepaid and accruals for research and development expenses. The Company’s research and development prepaids and accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors.

Research and Development Expenses

Major components of research and development costs include cash compensation, stock-based compensation, preclinical studies, clinical trial and related clinical manufacturing, drug development, materials and supplies, legal, regulatory compliance, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. Research and development costs, including upfront fees and milestones paid to contract research organizations, are expensed as goods are received or services rendered. Costs incurred in connection with clinical trial activities for which the underlying nature of the activities themselves do not directly relate to active research and development, such as costs incurred for market research and focus groups linked to clinical strategy as well as costs to build the Company’s brand, are not included in research and development costs but are reflected as general and administrative costs.

Interest Income and Other, Net

Interest income and other, net consists primarily of interest earned on our cash, cash equivalents and short-term and long-term investments.

Income Taxes

Deferred tax assets and liabilities are determined based on differences between the financial and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Valuation allowances are established when the Company determines that it is more likely than not that

some portion of a deferred tax asset will not be realized. The Company has incurred operating losses from April 7, 2000 (inception) through December 31, 2021, and therefore has not recorded any current provision for income taxes.

Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions.

The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income (GILTI), states that an entity can make an accounting policy election to either recognized deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. The Company has elected to account for GILTI as a period expense in the year the tax is incurred.

Share-Based Compensation

The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock units and the employee stock purchase plan purchase rights, based on estimated fair values. The fair value of employee stock options and employee stock purchase plan purchase rights is estimated on the grant date using the Black-Scholes valuation model. The grant-date fair value for restricted stock units is based upon the market price of the Company’s common stock on the date of the grant. The value of the portion of the award that is ultimately expected to vest is recorded as expense over the requisite service periods. For performance-based awards compensation cost is recognized when it is probable that the performance criteria will be met.

The Company estimates forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from its estimates. The Company uses historical data to estimate forfeitures and records share-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from the Company’s estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. For the years ended December 31, 2021, 2020 and 2019, the Company applied a forfeiture rate based on the Company’s historical forfeitures.

401(k) Plan

The Company maintains a defined contribution employee retirement plan (401(k) plan). For the years ended December 31, 2021, 2020 and 2019, the Company recognized expenses for matching contributions of $0.4 million, $0.3 million and $0.3 million, respectively.

Basic and Dilutive Net Loss Per Share of Common Stock

Basic net loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, excluding the dilutive effects of warrants to purchase common stock, non-vested restricted stock, stock options, and employee stock purchase plan purchase rights. Diluted net loss per share of common stock is computed by dividing net loss by the sum of the weighted-average number of shares of common stock outstanding during the period plus the potential dilutive effects of warrants to purchase common stock, non-vested restricted stock, stock options, and employee stock purchase plan purchase rights outstanding during the period calculated in accordance with the treasury stock method, but are excluded if their effect is anti-dilutive. Because the impact of these items is anti-dilutive during the periods of net loss, there was no difference between basic and diluted loss per share of common stock at December 31, 2021, 2020 and 2019.

The calculation of weighted-average diluted shares outstanding excludes the dilutive effect of non-vested restricted stock, stock options to purchase common stock, and employee stock purchase plan purchase rights as the impact of such items are anti-dilutive during periods of net loss. Potential common shares excluded from the calculations were 4,672,859, 1,162,161, and 1,571,356, for the years ended December 31, 2021, 2020 and 2019, respectively.

Segments

The Company operates in only one segment, pharmaceuticals.

Impact of Recently Issued Accounting StandardsIn June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach on expected losses to estimate credit losses on certain financial instruments, including trade receivables and available-for-sale debt securities. The new guidance was originally due to become effective for the Company beginning in the first quarter of 2020, however the FASB in November 2019 issued ASU 2019-10 which moved the effective date for smaller reporting companies to the first quarter of 2023. The Company is currently evaluating the potential impact that this standard may have on its consolidated financial statements.

Investments

12 Months Ended

Dec. 31, 2021

Investments [Abstract]

Investments

The following tables summarize the Company’s short-term and long-term debt investments (in thousands):


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

Corporate bonds	$	30,571	$	2	$	(7)	$	30,566
Commercial paper	34,890		2		(5)		34,887
U.S. Treasury securities	9,552		—		(13)		9,539

Total investments	$	75,013	$	4	$	(25)	$	74,992


	December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

Corporate bonds	$	3,256	$	2	$	—	$	3,258

U.S. Treasury securities	28,717		1		(3)		28,715

Total investments	$	31,973	$	3	$	(3)	$	31,973

The following tables summarize the Company’s debt investments with unrealized losses, aggregated by investment type and the length of time that individual investments have been in a continuous unrealized loss position (in thousands, except number of securities):


	December 31, 2021
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Corporate bonds	$	28,362	$	(7)	$	—	$	—	$	28,362	$	(7)
Commercial paper	8,991		(5)		—		—		8,991		(5)
U.S. Treasury securities	9,539		(13)		—		—		9,539		(13)

Total	$	46,892	$	(25)	$	—	$	—	$	46,892	$	(25)
Number of securities with unrealized losses			18				—				18


	December 31, 2020
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss



U.S. Treasury securities	$	16,598	$	(3)	$	—	$	—	$	16,598	$	(3)

Total	$	16,598	$	(3)	$	—	$	—	$	16,598	$	(3)
Number of securities with unrealized losses			6				—				6

The following table summarizes the scheduled maturity for the Company’s debt investments at December 31, 2021 (in thousands):


	December 31, 2021
Maturing in one year or less	$	72,970
Maturing after one year through two years	2,022
Total debt investments	$	74,992

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net of accumulated depreciation consisted of the following (in thousands):


	December 31,
	2021		2020
Lab equipment	$	2,341	$	2,323
Leasehold improvements	1,713		1,584
Computer equipment	817		1,207
Office furniture and equipment	520		520
Property and equipment	5,391		5,634
Less accumulated depreciation	(5,138)		(5,420)
Property and equipment, net of accumulated depreciation	$	253	$	214

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

The Company leases its facilities under long-term operating leases that expire at various dates through 2026. The Company generally has options to renew lease terms on its facilities, which may be exercised at the Company’s sole discretion. In addition, certain lease arrangements may be terminated prior to their original expiration date at the Company’s discretion. The Company evaluates renewal and termination options at the lease commencement date to determine if it is reasonably certain to exercise the option and has concluded on all operating leases that it is not reasonably certain that any options will be exercised. The weighted-average remaining lease term for the Company’s operating leases as of December 31, 2021 was 4.58 years.

Expense related to leases is recorded on a straight-line basis over the lease term. Lease expense under operating leases, including common area maintenance fees, totaled approximately $0.7 million and $0.7 million for the twelve months ended December 31, 2021 and 2020, respectively.

The discount rate implicit within the Company’s leases is generally not determinable and therefore the Company determines the discount rate based on its incremental borrowing rate based on the information available at commencement date. As of December 31, 2021, the operating lease liabilities reflect a weighted-average discount rate of 7.89%.

The following table sets forth the operating lease right-of-use assets and liabilities as of December 31, 2021 (in thousands):


Assets
Operating Lease Right-of-Use Assets	$	2,404

Liabilities
Operating Lease Short-term Liabilities (recorded within Accrued liabilities)	$	432
Operating Lease Long-term Liabilities (recorded within Lease-related obligations)	2,392
Total Operating Lease Liabilities	$	2,824

Operating lease payments over the remainder of the lease terms are as follows (in thousands):


Years Ending December 31,	As of December 31, 2021

2022	637
2023	736
2024	759
2025	781
2026	467
Total future minimum rental payments	$	3,380
Less amount of lease payments representing interest	556
Total present value of lease payments	$	2,824

For the twelve months ended December 31, 2021 and 2020, the Company made lease payments of approximately $0.5 million and $0.7 million, respectively, which are included in operating cash flows.

Sublease

The Company subleased 3,537 square feet of its office space under a non-cancelable operating lease that expired February 2021. For the twelve months ended December 31, 2021 and 2020, the Company recognized approximately $12,000 and $71,000 of income in Interest income and other, net on the Consolidated Statement of Operations and Comprehensive Loss, respectively. As this lease has terminated, there are no future minimum rentals payments to be received.

Significance of Revenue Source

The Company is the recipient of federal research contract funds from BARDA. Periodic audits are required under the grant and contract agreements and certain costs may be questioned as appropriate under the agreements. At December 31, 2021 and 2020, the Company had recorded a $52,000 and $38,000 provision for potential refundable amounts, respectively.

Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity (Deficit)

Stockholders’ Equity (Deficit)

Common Stock

The Company’s common stock consists of 200 million authorized shares at December 31, 2021 and 2020, and 86.9 million and 62.8 million shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively.

Shares Reserved for Future Issuance

The Company has reserved shares of common stock for future issuances as follows:


	December 31,
	2021	2020

For exercise of outstanding common stock options	11,649,594	8,906,271
For delivery upon vesting of outstanding restricted stock units	896,222	1,133,049
For future equity awards under the 2013 Equity Incentive Plan	2,076,923	3,342,555
For future purchases under the 2013 Employee Stock Purchase Plan	2,298,817	2,419,213
Total shares of common stock reserved for future issuances	16,921,556	15,801,088

Stock Options

The Company maintains a 2013 Equity Incentive Plan (the 2013 Plan). The 2013 Plan provides for the grant of incentive stock options (ISOs), nonstatutory stock options (NSOs), stock appreciation rights, restricted stock awards, restricted stock unit (RSU) awards, performance-based stock awards, and other forms of equity compensation (collectively, stock awards), all of which may be granted to employees, including officers, non-employee directors and consultants of the Company and its affiliates. Additionally, the 2013 Plan provides for the grant of performance cash awards. ISOs may be granted only to employees. All other awards may be granted to employees, including officers, and to non-employee directors and consultants. The number of shares of common stock reserved for issuance under the 2013 Plan will automatically increase on January 1 of

each year, continuing through and including January 1, 2023, by 4.0% of the total number of shares of capital stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares determined by the Company’s board of directors.

The Company estimates the fair value of its share-based awards to employees, directors and consultants using the Black-Scholes option-pricing model. The Black-Scholes model requires the input of assumptions, including (a) the expected stock price volatility, (b) the calculation of expected term of the award, (c) the risk-free interest rate and (d) expected dividends. For stock options, the Company uses historical volatility data to estimate the volatility of our common stock price and historical exercise data to estimate the expected life. The risk-free interest rates for the periods within the expected life of the option are based on the U.S. Treasury instrument with a life that is similar to the expected life of the option grant. The Company has never paid, and does not expect to pay, dividends in the foreseeable future.

The following table illustrates the assumptions for the Black-Scholes model used in determining the fair value of the stock options granted:


	Years Ended December 31,
	2021			2020			2019
Expected volatility	95.84		%	93.24		%	88.77		%
Expected term (in years)	6.0			6.0			6.0
Weighted-average risk-free interest rate	0.71		%	1.24		%	2.42		%
Expected dividend yield	—		%	—		%	—		%
Weighted-average fair value per option	$	6.67		$	1.78		$	1.71

A summary of activity related to the Company’s stock options is as follows:


	Number of Options Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in Years)	Total Intrinsic Value
Balance, December 31, 2019	8,390,304	$	8.36	7.47
Granted	3,508,080	2.37		—
Exercised	(409,988)	2.41		—
Forfeited	(2,575,125)	11.80		—
Balance, December 31, 2020	8,913,271	$	5.28	7.52
Granted	3,903,750	8.74		—
Exercised	(909,997)	4.69		—
Forfeited	(257,432)	15.12		—
Balance, December 31, 2021	11,649,592	$	6.27	7.65	$	25,754
Exercisable at December 31, 2021	6,133,945	$	6.62	6.83	$	15,293
Vested or expected to vest at December 31, 2021	10,855,470	$	6.28	7.58	$	24,368

As of December 31, 2021, there was approximately $19.6 million of total unrecognized compensation cost related to non-vested stock options granted under the 2013 Plan. That compensation cost is expected to be recognized over a weighted-average period of approximately 2.78 years.

Other information regarding the Company’s stock options is as follows (in thousands, except per share data):


	Years Ended December 31,
	2021		2020		2019
Weighted-average grant-date fair value per share of options granted	$	6.67	$	1.78	$	1.71
Total intrinsic value of options exercised	$	3,496	$	355	$	10
Total fair value of shares vested	$	8,642	$	4,188	$	6,798

The following table summarizes, at December 31, 2021, by price range: (1) for stock option awards outstanding under the 2013 Plan, the number of stock option awards outstanding, their weighted-average remaining life and their weighted-average exercise price; and (2) for stock option awards exercisable under the 2013 Plan, the number of stock option awards exercisable and their weighted-average exercise price:


	Outstanding				Exercisable
Exercise Price Range ($)	Number	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price		Number	Weighted-Average Exercise Price
1.37 to 7.57	7,273,390	7.55	$	2.89	4,424,385	$	2.97
7.58 to 8.06	814,900	6.13	7.98		617,400	8.02
8.07 to 18.75	3,162,602	8.86	9.61		693,460	10.69
18.76 to 53.74	398,700	3.06	37.86		398,700	37.86

1.37 to 53.74	11,649,592	7.65	$	6.27	6,133,945	$	6.62

In April 2019, the Company granted stock options covering a total of 1,750,000 shares in connection with the hiring of its Chief Executive Officer and Chief Business Officer. These grants were non-qualified stock options, have a 10-year term and will vest over four years, with one-fourth vesting on the one-year anniversary of the grant date and remaining three-fourths vesting over the following three years in equal monthly installments. These stock options are subject to the terms of the 2013 Plan, but were granted outside of the 2013 Plan, as they constituted inducement grants in accordance with Nasdaq Stock Market rules.

Employee Stock Purchase Plan

In February 2013, the Company’s board of directors adopted the 2013 Employee Stock Purchase Plan (ESPP), which was subsequently ratified by stockholders and became effective in April 2013. The purpose of the ESPP is to retain the services of new employees and secure the services of new and existing employees while providing incentives for such individuals to exert maximum efforts toward the Company’s success and that of its affiliates. The ESPP initially authorized the issuance of 704,225 shares of common stock pursuant to purchase rights granted to the Company’s employees or to employees of any of its designated affiliates. The number of shares of common stock reserved for issuance will automatically increase on January 1 of each calendar year, from January 1, 2014 through January 1, 2023 by the least of (a) 1% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, (b) 422,535 shares, or (c) a number determined by the Company’s board of directors that is less than (a) and (b). The ESPP is intended to qualify as an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code of 1986. The common stock reserved for future issuance under the ESPP was automatically increased by an additional 422,535 shares on January 1, 2020 and 2021, bringing the total number of shares of common stock that may be purchased under the ESPP to 3,493,866 and 3,916,401, respectively.

The Company has reserved a total of 3,916,401 shares of common stock to be purchased under the ESPP, of which 2,298,817 and 2,419,213 shares remained available for purchase at December 31, 2021 and 2020, respectively. Eligible employees may authorize an amount up to 15% of their salary to purchase common stock at the lower of a 15% discount to the beginning price of their offering period or a 15% discount to the ending price of each six-month purchase interval. The ESPP also provides for an automatic reset feature to start participants on a new twenty-four-month participation period in the event that the common stock market value on a purchase date is less than the common stock value on the first day of the twenty-four month offering period. The Company issued 542,931 and 337,072 shares of common stock pursuant to the ESPP for the year ended December 31, 2021 and 2020, respectively. Compensation expense for purchase rights under the ESPP related to the purchase discount and the “look-back” option were determined using a Black-Scholes option pricing model.

The following table illustrates the assumptions for the Black-Scholes model used in determining the fair value of the ESPP purchase rights:


	Years Ended December 31,
	2021			2020			2019
Expected volatility	97.54		%	75.39		%	57.22		%
Expected term (in years)	0.71			1.28			1.23
Weighted-average risk-free interest rate	0.25		%	0.37		%	2.36		%
Expected dividend yield	—		%	—		%	—		%
Weighted-average option value per share	$	6.55		$	0.93		$	1.00

As of December 31, 2021, the Company had a liability of $0.4 million representing employees' contributions to the ESPP.

Restricted Stock Units

For the years ended December 31, 2021 and 2020, the Company issued RSUs to certain employees and consultants which vest based on service criteria. When vested, the RSU represents the right to be issued the number of shares of the Company’s common stock that is equal to the number of RSUs granted. The grant date fair value for RSUs is based upon the market price of the Company’s common stock on the date of the grant. The fair value is then amortized to compensation expense over the requisite service period or vesting term. For the years ended December 31, 2021 and 2020, the Company issued 430,002 and 478,966 shares of common stock pursuant to the vesting of RSUs, respectively.

A summary of activity related to the Company’s RSUs is as follows:


	Number of Restricted Stock Units Outstanding	Weighted-Average Grant-Date Fair Value
Balance, December 31, 2020	1,133,049	$	2.61
Granted	216,875	9.28
Share issuance	(430,002)	2.88
Forfeited	(23,700)	6.80
Balance, December 31, 2021	896,222	$	3.98

The total unrecognized compensation cost related to the non-vested RSUs as of December 31, 2021 was $2.3 million and will be recognized over a weighted average period of approximately 2.39 years.

Stock-based Compensation

For awards with only service conditions and graded-vesting features, the Company recognizes compensation expense on a straight-line basis over the requisite service period. Total stock-based compensation expense was as follows (in thousands):


	Years Ended December 31,
	2021		2020		2019
Income Statement Classification:

Research and development expense	$	6,611	$	2,969	$	4,089


General and administrative expense	5,649		2,599		5,439

Total stock-based compensation expense	$	12,260	$	5,568	$	9,528

Cash received from exercises under all share-based payment arrangements for 2021, 2020 and 2019 was $4.6 million, $1.4 million and $0.4 million, respectively. There was no actual tax benefit realized for the tax deductions from exercises of the share-based payment arrangements during 2021, 2020 or 2019.

On February 5, 2019, Dr. M. Michelle Berrey, the Company’s then President and Chief Executive Officer, resigned. The Company entered into a severance agreement with Dr. Berrey that provides for severance benefits to her in connection with her resignation. Among other benefits, Dr. Berrey received accelerated vesting of her outstanding stock options and RSUs as if she

had continued service for an additional 15-month period. In addition, Dr. Berrey's vested options were modified to extend her exercise period to May 5, 2020. The Company recorded a charge of $1.8 million to compensation expense on the date of her resignation related to the acceleration of vesting and the modifications of her outstanding stock options and RSUs.

In May 2019, related to the Company’s reduction in workforce further discussed in Note 8, certain outstanding stock option and RSU grants received accelerated vesting as if the service period of the terminated employee continued for an additional 12-month period. In addition, certain vested options were modified to extend their exercise period for 12 months. The Company recorded a charge of $0.7 million to compensation expense on the date of the reduction in workforce related to the acceleration of vesting and the modifications of the outstanding stock options and RSUs.

At-The-Market Equity Offering

On August 10, 2020, we entered into an Open Market Sale AgreementSM (the Jefferies Sales Agreement) with Jefferies LLC, as agent, pursuant to which we may offer and sell, from time to time through Jefferies, up to $75 million of shares of our common stock. Sales of our common stock made pursuant to the Jefferies Sales Agreement, if any, will be made under our shelf registration statement on Form S-3 (File No. 333-244146), which was declared effective by the SEC on August 17, 2020. We have not sold any shares of our common stock under the Jefferies Sales Agreement.

On May 6, 2021, we filed an automatic shelf registration statement on Form S-3 with the SEC, which became effective upon filing, pursuant to which we registered for sale an unlimited amount of any combination of our common stock, preferred stock, debt securities, warrants, rights and/or units from time to time and at prices and on terms that we may determine, so long as we continue to satisfy the requirements of a “well-known seasoned issuer” under SEC rules, This registration statement will remain in effect for up to three years from the date it became effective. As of December 31, 2021, no sales have been made under the automatic shelf registration statement.

Public Offering of Common Stock

On January 20, 2021, the Company entered into an underwriting agreement (the Underwriting Agreement) with Jefferies LLC and Cowen and Company, LLC, as representatives of the several underwriters named therein (collectively, the Underwriters), relating to the issuance and sale of 11,765,000 shares (the Shares) of the Company's common stock. The price to the public in this offering was $8.50 per share, and the Underwriters agreed to purchase the Shares from the Company pursuant to the Underwriting Agreement at a price of $7.99 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to 1,764,750 additional shares of the Company's common stock at the public offering price. The net proceeds to the Company from this offering were approximately $107.8 million, as the Underwriters’ option to purchase additional shares was exercised in full, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The offering closed on January 25, 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes No income tax expense or benefit has been recorded for the years ended December 31, 2021, 2020 or 2019. This is due to the establishment of a valuation allowance against the deferred tax assets generated during those periods. At December 31, 2021, the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to its history of losses. Accordingly, the net deferred tax assets have been fully reserved.

A reconciliation of the difference between the benefit for income taxes and income taxes at the statutory U.S. federal income tax rate is as follows for the years ended December 31, 2021, 2020, and 2019 (in thousands, except percentages):


	2021				2020				2019
	Amount		% of Pretax Earnings		Amount		% of Pretax Earnings		Amount		% of Pretax Earnings
Income tax benefit at statutory rate	$	(36,379)	21.0	%	$	(9,140)	21.0	%	$	(23,641)	21.0	%
State income taxes	(8,060)		4.7	%	(138)		0.3	%	(1,596)		1.4	%
Research and development credits	(1,565)		0.9	%	(1,088)		2.5	%	(1,190)		1.1	%
In process R&D	26,395		(15.2)	%	—		—	%	—		—	%
Permanent items	711		(0.4)	%	505		(1.2)	%	696		(0.6)	%
Provision to return adjustments	126		(0.1)	%	81		(0.2)	%	937		(0.8)	%
Effect of change in federal tax rate	—		—	%	—		—	%	—		—	%
Effect of change in state tax rate	3,478		(2.0)	%	1,139		(2.6)	%	(117)		0.1	%
Removal of excess tax benefit	—		—	%	—		—	%	—		—	%
Increase in unrecognized tax benefits	439		(0.3)	%	272		(0.6)	%	298		(0.3)	%
Current year forfeitures	435		(0.3)	%	4,026		(9.2)	%	—		—	%
Change in valuation allowance	14,420		(8.3)	%	4,343		(10.0)	%	24,613		(21.9)	%
Net benefit	$	—	—	%	$	—	—	%	$	—	—	%

The components of deferred tax assets and liabilities at December 31, 2021 and 2020 were as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets:
Domestic net operating loss carryforwards	$	138,548	$	123,381

Research and development expenses	1,191		293
Capitalized Section 174 expenses	—		—
License fees	14,131		12,556
Research and development credits	17,738		15,498
Capital loss carryforwards	484		403
Accrued bonuses	888		943
Share-based compensation	4,885		3,541
Other	1,457		961
Total gross deferred tax assets	179,322		157,576
Valuation allowance	(178,705)		(156,973)
Total deferred tax assets	617		603
Deferred tax liabilities:
Right-of-use asset	(617)		(603)
Total deferred tax liabilities	(617)		(603)
Total deferred tax assets and liabilities, net	$	—	$	—

At December 31, 2021, the Company had net operating loss carryforwards for federal and state tax purposes of approximately $637.9 million and $455.4 million, respectively. At December 31, 2020, the Company had net operating loss carryforwards for federal and state tax purposes of approximately $551.0 million and $388.5 million, respectively. Federal losses of $414.7 million begin to expire in 2023 and $223.2 million of the federal losses carry forward indefinitely. State losses of $409.2 million begin to expire in 2022 and $46.2 million of the state losses carry forward indefinitely. In addition, the Company has tax credit carryforwards for federal tax purposes of approximately $23.3 million as of December 31, 2021, which begin to expire in 2022. The Company also has capital loss carryforwards for federal tax purposes of $1.9 million, which begin to expire in 2022. The future utilization of net operating loss and tax credit carryforwards may be limited due to changes in ownership.

Management has recorded a valuation allowance for all of the deferred tax assets due to the uncertainty of future taxable income.

The Company incorporated a subsidiary in the United Kingdom in 2014. However, the subsidiary had zero activity in 2021 and as such, has no undistributed earnings. The Company dissolved the United Kingdom subsidiary in 2021.

The Company incorporated a subsidiary in Ireland during 2018. However, the subsidiary had no activity during 2019, 2020 and 2021, and as such, has no undistributed earnings.

The Company acquired Oncoceutics in 2021 and is including the activity for 2021 in its consolidated financial statements.

In general, if the Company experiences a greater than 50% aggregate change in ownership of certain significant stockholders over a three-year period (a Section 382 ownership change), utilization of its pre-change net operating loss carryforwards is subject to an annual limitation under Section 382 of the Internal Revenue Code of 1986, as amended (and similar state laws). The annual limitation generally is determined by multiplying the value of the Company’s stock at the time of such ownership change (subject to certain adjustments) by the applicable long-term tax-exempt rate. Such limitations may result in expiration of a portion of the net operating loss carryforwards before utilization and may be substantial. The ability of the Company to use its net operating loss carryforwards may be limited or lost if the Company experiences a Section 382 ownership change in connection with offerings or as a result of future changes in its stock ownership. Losses from a specific period may be subject to multiple limitations and would generally be limited by the lowest of those limitations.

The Company has determined that a Section 382 ownership change occurred in 2007, and as such, losses incurred prior to that date are subject to an annual limitation of at least $762,000. The Company evaluated Section 382 ownership changes subsequent to 2007 through September 30, 2020 and concluded that a Section 382 ownership change occurred in 2013 as a result of the initial public offering. As such, losses incurred prior to that date are subject to an annual limitation of at least $6.7 million. The acquired Oncoceutics net operating losses may be subject to limitations under Section 382, however no study has been completed as of the year ended December 31, 2021.

The Company has determined that there may be a future limitation on the Company’s ability to utilize its entire federal R&D credit carryover. Therefore, the Company recognized an uncertain tax benefit associated with the federal R&D credit carryover during the years ended December 31, 2021 and 2020, as follows (in thousands):


Balance at December 31, 2019	$	4,023
Increases related to 2020	272
Increases related to prior periods	—
Balance at December 31, 2020	4,295
Increases related to 2021	391
Increases related to prior periods	48
Balance at December 31, 2021	$	4,734

On November 18, 2021, Governor Roy Cooper signed into law the 2021 Appropriations Act which phases out the corporate income tax for North Carolina. The Bill phases out the current 2.5% North Carolina corporate income tax rate over five years starting in 2025, reaching zero by 2030. For tax years beginning on or after January 1, 2025 the rate is 2.25%. The rate decreases to 2% in 2026 and 2027; and to 1% in 2028 and 2029. After 2029, the rate decreases to 0%. As a result of the revised tax rate, the Company adjusted its North Carolina net operating loss deferred tax asset as of December 31, 2021 by applying the revised tax rate, which resulted in a decrease to the deferred tax assets and a corresponding decrease to the valuation allowance of approximately $7.1 million.

The Company has determined that it had no other material uncertain tax benefits for the year ended December 31, 2021. As of December 31, 2021, due to the carry forward of unutilized net operating losses and research and development credits, the Company is subject to U.S. federal and state income tax examinations for the tax years 2002 through 2021. The Company recognizes accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expense. No amounts were accrued for the payment of interest and penalties at December 31, 2021.

The Tax Act subjects a US shareholder to tax on global intangible low-taxed income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognized deferred taxes for temporary basis differences expected to

reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. The Company has elected to account for GILTI in the year the tax is incurred. The Company does not have a GILTI inclusion in 2019, 2020 or 2021; therefore, no GILTI tax has been recorded for the years ended December 31, 2020 and 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Significant Agreements	12 Months Ended
Significant Agreements	Dec. 31, 2021
Contractors [Abstract]
Significant Agreements	Significant Agreements Biomedical Advanced Research and Development Authority (BARDA) In February 2011, the Company entered into a contract with BARDA for the advanced development of TEMBEXA as a medical countermeasure in the event of a smallpox release. Under the contract, BARDA agreed to reimburse the Company, plus pay a fixed fee, for the research and development of TEMBEXA as a broad-spectrum therapeutic antiviral for the treatment of smallpox infections. The contract consists of an initial performance period, referred to as the base performance segment, plus up to four extension periods, referred to as option segments, of which all have been exercised. Under the contract, the Company received $72.5 million in expense reimbursement and $4.6 million in fees. The fourth option segment ended on September 1, 2021 and the contract has expired in accordance with its terms. For the years ended December 31, 2021, 2020, and 2019, the Company recognized revenue under this contract of $1.6 million, $5.3 million and $7.6 million, respectively. License and Development Agreement with Cantex Pharmaceuticals, Inc. On July 26, 2019, the Company entered into a License and Development Agreement with Cantex Pharmaceuticals, Inc. (Cantex) pursuant to which the Company acquired exclusive worldwide rights to develop and commercialize, for any and all uses, a glycosaminoglycan compound known as DSTAT, which is currently being studied for the treatment of acute myeloid leukemia. Under the terms of the license agreement, the Company is responsible for, and bears the future costs of, worldwide development and commercialization of DSTAT. In connection with the transaction, Cantex assigned to the Company all of its rights under its DSTAT supply agreements, including its bulk API agreement with Scientific Protein Laboratories LLC (SPL), pursuant to which SPL will exclusively produce DSTAT for the Company through October 2040. In consideration for the license rights, the Company made an upfront cash payment of $30.0 million to Cantex and issued to Cantex 10.0 million shares of its common stock. For the twelve months ended December 31, 2019, the Company recognized $65.0 million of acquired in-process research and development expenses for the $30.0 million upfront cash payment, the fair value of the 10.0 million shares of common stock issued to Cantex and $0.1 million of transaction costs. The license agreement obligates the Company to pay Cantex regulatory milestone payments of up to $202.5 million upon receipt of product approvals in the United States, the European Union and Japan, and sales milestone payments of up to $385.0 million upon achievement of specified net sales levels. The Company also agreed to pay Cantex tiered royalties based on percentages of net sales beginning at 10% and not to exceed the high-teens. SymBio Pharmaceuticals On September 30, 2019, the Company entered into a license agreement with SymBio for the exclusive worldwide rights to develop, manufacture and commercialize BCV for all human indications, excluding the prevention and treatment of orthopoxviruses, including smallpox. Under the terms of the license agreement, SymBio will be responsible for, and bear the future costs of, worldwide development and commercialization of BCV in the licensed indications. Either party may terminate the license agreement upon the occurrence of a material breach by the other party (subject to standard cure periods), or upon certain events involving the bankruptcy or insolvency of the other party. SymBio may also terminate the license agreement without cause on a country-by-country basis upon ninety days prior notice. In exchange for the license to SymBio under the Company's BCV rights, the Company received an upfront payment of $5.0 million in October 2019. In addition, the Company is eligible to receive up to $180.0 million in clinical, regulatory and commercial milestones worldwide, as well as low double-digit royalties based on net sales of BCV. Since entering into the license agreement in September 2019, the Company has recognized all of the $5.0 million of revenue related to the upfront payment. Ohara Agreement In 2019, Oncoceutics, Inc., a Delaware corporation (Oncoceutics) entered into a license, development and commercialization agreement with Ohara Pharmaceutical Co., Ltd. for ONC201 in Japan. The Company is entitled to receive up to $2.5 million in nonrefundable regulatory milestone payments. The Company is entitled to tiered royalties based on the aggregate annual net sales of all products, as defined in the agreement, in Japan. CR Sanjiu Agreement In December 2020, Oncoceutics entered into a license, development and commercialization agreement with China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (CR Sanjiu). Oncoceutics granted CR Sanjiu an exclusive royalty bearing license to develop and commercialize ONC201 in China, Hong Kong, Macau and Taiwan (CR Sanjiu Territory). The Company is entitled to receive up to $5.0 million in nonrefundable regulatory milestone payments. The Company is entitled to tiered royalties based on the aggregate annual net sales of all licensed products, as defined in the agreement, in China.

- Definition

The entire disclosure for long-term contracts or programs.

+ References

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+ Details

Oncoceutics Acquisition

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Oncoceutics Acquisition

On January 7, 2021, the Company, Ocean Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (Merger Sub), Oncoceutics and Fortis Advisors, LLC solely in its capacity as representative of the securityholders of Oncoceutics (the Securityholders’ Representative), entered into an Agreement and Plan of Merger (the Merger Agreement). Concurrently with the execution of the Merger Agreement, Merger Sub merged with and into Oncoceutics (the Merger) whereupon the separate corporate existence of Merger Sub ceased, with Oncoceutics continuing as the surviving corporation of the Merger as a wholly-owned subsidiary of the Company.

As consideration for the Merger, the Company (a) paid an upfront cash payment of approximately $25.0 million, subject to certain customary adjustments, (b) issued an aggregate of 8,723,769 shares of the Company's common stock, (c) issued a promissory note to the Securityholders' Representative in the principal amount of $14.0 million (the Seller Note), to be paid in cash, subject to the terms and conditions of the Merger Agreement and the Seller Note, upon the one year anniversary of the closing of the Merger, and (d) agreed to make contingent payments up to an aggregate of $360.0 million based on the achievement of certain development, regulatory and commercialization events as set forth in the Merger Agreement, as well as additional tiered royalty payments based upon future net sales of ONC 201 and ONC 206 products, subject to certain reductions as set forth in the Merger Agreement, and a contingent payment in the event the Company receives any proceeds from the sale of a rare pediatric disease priority review voucher based on Oncoceutics' products. The closing payment may be adjusted after the closing, pursuant to procedures set forth in the Merger Agreement, in connection with the finalization of the cash, transaction expenses, debt and working capital amounts at closing. As of December 31, 2021, the Company has recorded an estimated liability of $0.2 million related to closing payment adjustments. Additionally, as of December 31, 2021, the Company has recorded an estimated receivable of $0.6 million related to the repayment of certain severance amounts due from the Oncoceutics' shareholders. The promissory note totaling $14.0 million and the net of the previously mentioned receivable and liability, less $0.4 million held back as a reserve against estimated post-closing transaction expenses, was paid to the Oncoceutics' shareholders in January 2022. A $20.0 million milestone payment was paid and expensed to research and development expenses in the fourth quarter of 2021 related to the achievement of the 20% ORR, evaluated by BICR, of ONC201 in recurrent H3 K27M-mutant glioma patients success milestone.

The Company accounted for the Oncoceutics acquisition as an asset acquisition as the majority of the value of the assets acquired related to the ONC201 acquired in-process research and development (IPR&D) asset. In accordance with Accounting Standards Codification (ASC) Subtopic 730-10-25, Accounting for Research and Development Costs, the up-front payments to acquire a new drug compound, are immediately expensed as acquired IPR&D and future milestone payments are expensed to research and development expenses when paid or payable in transactions other than a business combination provided that the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no alternative future use. Therefore, the portion of the purchase price that was allocated to the IPR&D assets acquired was immediately expensed. Other assets acquired and liabilities assumed, were recorded at fair value.

The following represents the consideration paid and purchase price allocation for the acquisition of Oncoceutics (in thousands, except for per share data):


Cash	$	23,836
One-year closing anniversary payment	14,000

Shares common stock issued as consideration	8,723,769
Stock price per share on effective date	4.98
Value of estimated common stock consideration	43,445
Total consideration	$	81,281

Net assets acquired	$	(1,310)
IPR&D assets expensed	82,591
Total purchase price allocated	$	81,281

Transaction costs expensed to IPR&D(1)	$	299
Total IPR&D expensed	$	82,890

(1) As a result of the asset acquisition accounting, the transaction costs associated with the acquisition should be included in the costs of the assets acquired. The primary asset acquired, the IPR&D asset, was expensed and the transaction related costs were included with and expensed with this asset. The transaction costs primarily included financial advisor fees, legal expenses and auditor expenses. Additionally, there were $0.6 million of expenses related to this acquisition recorded in the fourth quarter of 2020 to general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Loss.

Restructuring Costs

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring Costs

In May 2019, the Company made the decision to discontinue the development of oral and IV BCV development programs for the treatment of Adenovirus (AdV) in stem-cell transplant (HCT) patients. The Company’s development efforts with respect to BCV are now focused on the treatment of smallpox. As a result, the Company restructured its operations, which included a reduction in workforce of 43 full-time employees and the accrual of expenses to close-out the clinical trials for the oral and IV development programs of BCV in AdV (study 210, study 211, AdAPT) and other supportive BCV development programs. The Company recorded charges for one-time employee termination benefits of $3.3 million, contract close-out costs of $2.0 million, other BCV development costs of $0.3 million, and losses on disposals of fixed assets of $0.3 million during the twelve months ended December 31, 2019. The $2.0 million of contract close-out costs were recorded through an increase in liabilities of $1.5 million with the remainder recognized through the expensing of prepaid balances. As of December 31, 2019, the Company had a clinical trial accrual balance related to the AdAPT, 210 and 211 trial terminations of $27,000 and other development costs accrual balance of $0.1 million. As of December 31, 2019, the Company had a severance accrual balance of $0.2 million.

The following table summarizes the restructuring charges (in thousands) recorded for the twelve months ended December 31, 2019:


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Fixed Asset Disposals		Total
Research and development	$	1,437	$	2,021	$	339	$	—	$	3,797
General and administrative	1,909		—		—		—		1,909
Interest income and other, net	—		—		—		250		250
Total restructuring expenses	$	3,346	$	2,021	$	339	$	250	$	5,956

The following table sets forth the accrual activity for employee termination benefits and contract close-out costs (in thousands) for the twelve months ended December 31, 2019. No additional charges are expected to be incurred.


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Fixed Asset Disposals		Total
Balance at January 1, 2019	$	—	$	—	$	—	$	—	$	—
Accruals	3,335		2,131		315		—		5,781
Revised estimates	11		(621)		24		250		(336)
Payments	(3,163)		(1,483)		(229)		(250)		(5,125)
Balance at December 31, 2019	$	183	$	27	$	110	$	—	$	320

The following table sets forth the accrual activity for employee termination benefits and contract close-out costs (in thousands) for the twelve months ended December 31, 2020.


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Total
Balance at December 31, 2019	$	183	$	27	$	110	$	320
Revised estimates	—		(23)		(10)		(33)
Payments	(183)		(4)		(100)		(287)
Balance at December 31, 2020	$	—	$	—	$	—	$	—

For the twelve months ended December 31, 2020, the revised accrual estimates resulted in a decrease to research and development expenses of $33,000. Additionally, during the twelve ended December 31, 2020, refunds of unused deposits of $1.3 million were received, which were previously recorded in prepaid expenses and other current assets on the Consolidated Balance Sheet.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Financial Data (Unaudited)

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for 2021 and 2020 are as follows (in thousands, except share and per share data):


	2021 Quarters
	Fourth		Third		Second		First
Revenue	$	46	$	107	$	391	$	1,435
Operating loss	(39,532)		(18,600)		(17,815)		(97,453)
Net loss	(39,498)		(18,560)		(17,763)		(97,415)
Net loss per share, basic and diluted	$	(0.45)	$	(0.21)	$	(0.21)	$	(1.21)
Weighted-average shares outstanding, basic and diluted	86,867,070		86,335,357		86,225,836		80,204,094


	2020 Quarters
	Fourth		Third		Second		First
Revenue	$	1,120	$	1,609	$	1,402	$	1,241
Operating loss	(11,757)		(11,560)		(10,286)		(10,913)
Net loss	(11,675)		(11,411)		(10,016)		(10,420)
Net loss per share, basic and diluted	$	(0.19)	$	(0.18)	$	(0.16)	$	(0.17)
Weighted-average shares outstanding, basic and diluted	62,702,181		62,242,456		62,042,778		61,742,035

Net loss per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share calculations will not necessarily equal the annual per share calculation. Diluted weighted-average shares outstanding are

identical to basic weighted-average shares outstanding and diluted net loss per share is identical to basic net loss per share for all quarters of 2021 and 2020.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the issuance date of these financial statements to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of December 31, 2021, and events which occurred subsequently but were not recognized in the financial statements. On January 31, 2022 (the Effective Date), the Company entered into a Loan and Security Agreement (the Loan Agreement), by and between the Company, as borrower, and Silicon Valley Bank, as the lender (the Lender). The Loan Agreement provides for a four-year secured revolving loan facility (the Credit Facility) in an aggregate principal amount of up to $50.0 million. Proceeds from the Credit Facility may be used for working capital and general corporate purposes. The Company has no obligation to draw down any amount under the Credit Facility, and has not drawn down any amount as of the date of this filing. The Company may borrow, repay and re-borrow funds under the Credit Facility without a prepayment penalty until January 31, 2026 (the Maturity Date), at which time the Credit Facility expires, and all outstanding revolving loans under the Credit Facility, together with all accrued and unpaid interest, must be repaid. No exit fee exists upon expiration of the Credit Facility on the Maturity Date. Subject to the satisfaction of certain liquidity ratios, the full $50.0 million of the Credit Facility will be available for the Company to borrow on a non-formula basis. If the Company is unable to meet these liquidity ratios, then availability under the Credit Facility is determined based on a borrowing base equal to percentages of certain accounts receivable and certain purchase orders (which include prospective options for BARDA to procure TEMBEXA treatment courses) for the Company’s goods in accordance with a formula set forth in the Loan Agreement. Borrowings under the Credit Facility accrue interest at a floating per annum rate of the greater of (i) 1.50% above the Prime Rate (as defined below) and (ii) 4.75%. Prime Rate is defined as the rate of interest per annum published in The Wall Street Journal or any successor publication thereto as the “prime rate”. If such rate of interest from The Wall Street Journal becomes unavailable, the “Prime Rate” shall mean the rate of interest per annum announced by the Lender as its prime rate in effect. In each case, in the event such prime rate is less than zero, such rate shall be deemed to be zero for purposes of the Loan Agreement. The Company must also pay an unused line fee equal to 0.25% per annum on the unused portion of the Credit Facility, payable quarterly in arrears. Upon the termination of the Loan Agreement for any reason prior to the Maturity Date, the Company will be required to pay to the Lender an early termination fee of $0.5 million. The Loan Agreement also requires the Company to pay the Lender a non-refundable commitment fee of $0.5 million, payable in four equal installments beginning on the Effective Date and each anniversary of the Effective Date thereafter until January 31, 2025. The Company’s obligations under the Loan Agreement are secured by a first lien on substantially all assets of the Company other than the Company’s intellectual property, with a negative pledge on the Company’s intellectual property. The Loan Agreement contains customary affirmative and negative covenants and customary events of default that permit the Lender to accelerate the Company’s outstanding obligations under the Loan Agreement, all as set forth in the Loan Agreement. The Loan Agreement also contains financial covenants requiring the Company to maintain specified liquidity and cash levels at certain times as set forth in the Loan Agreement.

The Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The preparation of the Company’s consolidated financial statements requires estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Although these estimates are based on knowledge of current events and actions the Company may undertake in the future, actual results may ultimately differ from these estimates and assumptions.
Reclassifications	Reclassifications Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported net income or stockholders' equity (deficit).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers any highly liquid instrument with an original maturity of three months or less at acquisition to be a cash equivalent. Cash equivalents consist of money market funds.
Investments	Investments Investments consist primarily of commercial paper, corporate bonds, and U.S. Treasury securities. The Company invests in high-credit quality investments in accordance with its investment policy which minimizes the probability of loss. Available-for-sale debt securities are carried at fair value as determined by quoted market prices, with the unrealized gains and losses, net of tax, reported as a separate component of stockholders’ equity. Realized gains and losses are determined using the specific identification method and transactions are recorded on a settlement date basis in interest income and other, net. For the year ended December 31, 2021, approximately $2,000 of realized gains were reclassified from accumulated other comprehensive loss, net in the Consolidated Balance Sheets to interest income and other, net in the Consolidated Statements of Operations and Comprehensive Loss. Investments with original maturities beyond three months at the date of purchase and which mature on, or less than twelve months from, the balance sheet date are classified as short-term. Investments with a maturity beyond twelve months from the balance sheet date are classified as long-term. The Company periodically reviews available-for-sale debt securities for other-than-temporary declines in fair value below the cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates, among other things, the duration and extent to which the fair value of a security is less than its cost; the financial condition of the issuer and any changes thereto; and the Company’s intent to sell, or whether it will more likely than not be required to sell, the security before recovery of its amortized cost basis. The Company does not intend to sell, and is not likely to be required to sell, the available-for-sale debt securities in an unrealized loss position before recovery of the amortized cost bases of the debt securities, which may be maturity. Any such declines in value judged to be other-than-temporary on available-for-sale debt securities are reported in other-than-temporary impairment of investment.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, short-term investments, long-term investments and accounts receivable. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the balance sheets. Accounts receivable represent amounts due from an agency of the federal government.
Accounts Receivable	Accounts Receivable Accounts receivable at December 31, 2020 consisted of amounts billed under the Company’s contract with the Biomedical Advanced Research and Development Authority (BARDA). Receivables under the BARDA contract are recorded as qualifying research activities are conducted and invoices from the Company’s vendors are received. The Company carries its accounts receivable at cost less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance based on its history of collections and write-offs and the current status of all receivables. The Company does not accrue interest on trade receivables. If accounts become uncollectible, they will be written off through a charge to the allowance for doubtful accounts. The Company has not recorded a charge to allowance for doubtful accounts as management believes all receivables are fully collectible.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of certain financial instruments, including accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term nature of such instruments. For assets and liabilities recorded at fair value, it is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy. Fair value measurements for assets and liabilities where there exists limited or no observable market data are based primarily upon estimates and are often calculated based on the economic and competitive environment, the characteristics of the asset or liability and other factors. Therefore, fair value measurements cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there may be inherent weaknesses in any calculation technique and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the calculated current or future fair values. The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The determination of where an asset or liability falls in the hierarchy requires significant judgment. These levels are: •Level 1 — Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. •Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and models for which all significant inputs are observable, either directly or indirectly. •Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. At December 31, 2021 and December 31, 2020, the Company had cash equivalents, including money market funds, and short-term investments, including U.S. Treasury securities, whose value is based on using quoted market prices. At December 31, 2021, the Company had long-term investments, including U.S. Treasury securities, whose value is based on using quoted market prices. Accordingly, these securities are classified as Level 1. At December 31, 2021, the Company had short-term investments, including commercial paper, corporate bonds and U.S. Treasury securities. At December 31, 2020, the Company had short-term investments including corporate bonds. As quoted prices are not available for these securities, they are valued using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Accordingly, these securities are classified as Level 2. There was no material re-measurement to fair value of financial assets and liabilities that are not measured at fair value on a recurring basis. For additional information regarding the Company’s investments, please refer to Note 2, "Investments."
Inventories	Inventories We consider regulatory approval of product candidates to be uncertain and product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. As such, the manufacturing costs for product candidates incurred prior to regulatory approval are not capitalized as inventory but are expensed as research and development costs. We begin capitalization of these inventory related costs once regulatory approval is obtained. We primarily use actual costs to determine our cost basis for inventories. At December 31, 2021, our inventory is related to TEMBEXA, which is being manufactured for the treatment of smallpox and potential delivery to the Strategic National Stockpile (SNS) for the U.S. government and other government agencies. TEMBEXA was approved by the FDA on June 4, 2021, at which time we began to capitalize inventory costs associated with TEMBEXA. Prior to FDA approval of TEMBEXA, all costs related to the manufacturing of TEMBEXA were charged to research and development expense in the period incurred as there was no alternative future use. We value our inventories at the lower of cost or estimated net realizable value. We determine the cost of its inventories, which includes amounts related to materials, manufacturing costs, shipping and handling costs on a first-in, first-out (FIFO) basis. Work-in-process includes all inventory costs prior to packaging and labelling, including raw material, active product ingredient, and drug product. Finished goods include packaged and labelled products. Our inventories at December 31, 2021, consisted of $2.8 million of work-in-process and no finished goods. Our assessment of market value requires the use of estimates regarding the net realizable value of its inventory balances, including an assessment of excess or obsolete inventory. Our determination that a valuation reserve might be required, in addition to the quantification of such reserve, requires it to utilize judgment. We determine excess or obsolete inventory based on multiple factors, including an estimate of the future demand for its products, product expiration dates and current sales levels. Our assumptions of future demand for its products are inherently uncertain and if we were to change any of these judgments or estimates, it could cause a material increase or decrease in the amount of inventory reserves that we report in a particular period. In addition, our inventory may experience expiration of its shelf-life stability. During the twelve months ended December 31, 2021, we did not record a reserve for inventory as we assume TEMBEXA will be sold to the US government under a procurement contract with Biomedical Advanced Research and Development Authority (BARDA) or could be sold to other governmental agencies. Should no procurement contract be secured in the future, we may reserve part or all of our inventory balance, which would be included in cost of sales.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which generally range from three to five years. Leasehold improvements are amortized over the shorter of the useful life of the asset or the term of the related lease. Maintenance and repairs are charged against expense as incurred.
Impairment of Property and Equipment	Impairment of Property and EquipmentThe Company evaluates property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset are less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value.
Leases	Leases At the inception of an arrangement, we determine if an arrangement is, or contains, a lease based on the unique facts and circumstances present in that arrangement. Lease classification, recognition, and measurement are then determined at the lease commencement date. For arrangements that contain a lease we (i) identify lease and non-lease components, (ii) determine the consideration in the contract, (iii) determine whether the lease is an operating or financing lease; and (iv) recognize lease right-of-use (ROU) assets and liabilities. Lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable and as such, we use our incremental borrowing rate based on the information available at the lease commencement date, which represents an internally developed rate that would be incurred to borrow, on a collateralized basis, over a similar term, an amount equal to the lease payments in a similar economic environment. Most leases include options to renew and, or, terminate the lease, which can impact the lease term. The exercise of these options is at our discretion and we do not include any of these options within the expected lease term as we are not reasonably certain we will exercise these options. The current portion of our operating lease liabilities is included in accrued liabilities and the long-term portion is included in lease-related obligations.
Revenue Recognition	Revenue Recognition Policy The Company’s revenues generally consist of (i) contract revenue - revenue generated under federal contracts, and (ii) collaboration and licensing revenue - revenue related to non-refundable upfront fees, royalties and milestone payments earned under license agreements. Revenue is recognized in accordance with the criteria outlined in Accounting Standards Codification (ASC) 606 issued by the Financial Accounting Standards Board (FASB). Following this accounting pronouncement, a five-step approach is applied for recognizing revenue, including (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation.
Research and Development Prepaids and Accruals	Research and Development Prepaids and Accruals As part of the process of preparing financial statements, the Company is required to estimate its expenses resulting from its obligation under contracts with vendors and consultants and clinical site agreements in connection with its research and development efforts. The financial terms of these contracts are subject to negotiations which vary contract to contract and may result in payment flows that do not match the periods over which materials or services are provided to the Company under such contracts. The Company’s objective is to reflect the appropriate research and development expenses in its financial statements by matching those expenses with the period in which services and efforts are expended. The Company accounts for these expenses according to the progress of its research and development efforts. The Company determines prepaid and accrual estimates through discussion with applicable personnel and outside service providers as to the progress or state of communication of clinical trials, or other services completed. The Company adjusts its rate of research and development expense recognition if actual results differ from its estimates. The Company makes estimates of its prepaid and accrued expenses as of each balance sheet date in its financial statements based on facts and circumstances known at that time. Although the Company does not expect its estimates to be materially different from amounts actually incurred, its understanding of status and timing of services performed relative to the actual status and timing of services performed may vary and may result in the Company reporting amounts that are too high or too low for any particular period. Through December 31, 2021, there had been no material adjustments to the Company’s prior period estimates of prepaid and accruals for research and development expenses. The Company’s research and development prepaids and accruals are dependent upon the timely and accurate reporting of contract research organizations and other third-party vendors.
Research and Development Expenses	Research and Development Expenses Major components of research and development costs include cash compensation, stock-based compensation, preclinical studies, clinical trial and related clinical manufacturing, drug development, materials and supplies, legal, regulatory compliance, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. Research and development costs, including upfront fees and milestones paid to contract research organizations, are expensed as goods are received or services rendered. Costs incurred in connection with clinical trial activities for which the underlying nature of the activities themselves do not directly relate to active research and development, such as costs incurred for market research and focus groups linked to clinical strategy as well as costs to build the Company’s brand, are not included in research and development costs but are reflected as general and administrative costs.
Interest Income and Other, Net	Interest Income and Other, Net Interest income and other, net consists primarily of interest earned on our cash, cash equivalents and short-term and long-term investments.
Income Taxes	Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Valuation allowances are established when the Company determines that it is more likely than not that some portion of a deferred tax asset will not be realized. The Company has incurred operating losses from April 7, 2000 (inception) through December 31, 2021, and therefore has not recorded any current provision for income taxes. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income (GILTI), states that an entity can make an accounting policy election to either recognized deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. The Company has elected to account for GILTI as a period expense in the year the tax is incurred.
Share-Based Compensation	Share-Based Compensation The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock units and the employee stock purchase plan purchase rights, based on estimated fair values. The fair value of employee stock options and employee stock purchase plan purchase rights is estimated on the grant date using the Black-Scholes valuation model. The grant-date fair value for restricted stock units is based upon the market price of the Company’s common stock on the date of the grant. The value of the portion of the award that is ultimately expected to vest is recorded as expense over the requisite service periods. For performance-based awards compensation cost is recognized when it is probable that the performance criteria will be met. The Company estimates forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from its estimates. The Company uses historical data to estimate forfeitures and records share-based compensation expense only for those awards that are expected to vest. To the extent that actual forfeitures differ from the Company’s estimates, the difference is recorded as a cumulative adjustment in the period the estimates were revised. For the years ended December 31, 2021, 2020 and 2019, the Company applied a forfeiture rate based on the Company’s historical forfeitures.
401(k) Plan	401(k) PlanThe Company maintains a defined contribution employee retirement plan (401(k) plan).
Basic and Dilutive Net Loss Per Share of Common Stock	Basic and Dilutive Net Loss Per Share of Common Stock Basic net loss per share of common stock is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, excluding the dilutive effects of warrants to purchase common stock, non-vested restricted stock, stock options, and employee stock purchase plan purchase rights. Diluted net loss per share of common stock is computed by dividing net loss by the sum of the weighted-average number of shares of common stock outstanding during the period plus the potential dilutive effects of warrants to purchase common stock, non-vested restricted stock, stock options, and employee stock purchase plan purchase rights outstanding during the period calculated in accordance with the treasury stock method, but are excluded if their effect is anti-dilutive. Because the impact of these items is anti-dilutive during the periods of net loss, there was no difference between basic and diluted loss per share of common stock at December 31, 2021, 2020 and 2019. The calculation of weighted-average diluted shares outstanding excludes the dilutive effect of non-vested restricted stock, stock options to purchase common stock, and employee stock purchase plan purchase rights as the impact of such items are anti-dilutive during periods of net loss.
Segments	SegmentsThe Company operates in only one segment, pharmaceuticals.
Impact of Recently Issued Accounting Standards	Impact of Recently Issued Accounting StandardsIn June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the impairment model by requiring entities to use a forward-looking approach on expected losses to estimate credit losses on certain financial instruments, including trade receivables and available-for-sale debt securities. The new guidance was originally due to become effective for the Company beginning in the first quarter of 2020, however the FASB in November 2019 issued ASU 2019-10 which moved the effective date for smaller reporting companies to the first quarter of 2023. The Company is currently evaluating the potential impact that this standard may have on its consolidated financial statements.

The Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Below is a table that presents information about certain assets measured at fair value on a recurring basis (in thousands):


			Fair Value Measurements
			December 31, 2021
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	11,841	$	11,841	$	—	$	—



Total cash equivalents	11,841		11,841		—		—
Short-term investments

U.S. Treasury securities	7,517		2,523		4,994		—

Commercial paper	34,887		—		34,887		—
Corporate bonds	30,566		—		30,566		—
Total short-term investments	72,970		2,523		70,447		—
Long-term investments

U.S. Treasury securities	2,022		2,022		—		—
Total long-term investments	2,022		2,022		—		—
Total assets	$	86,833	$	16,386	$	70,447	$	—


			Fair Value Measurements
			December 31, 2020
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents
Money market funds	$	1,503	$	1,503	$	—	$	—




Total cash equivalents	1,503		1,503		—		—
Short-term investments

U.S. Treasury securities	28,715		28,715		—		—


Corporate bonds	3,258		—		3,258		—
Total short-term investments	31,973		28,715		3,258		—





Total assets	$	33,476	$	30,218	$	3,258	$	—

Schedule of Prepaid and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31,
	2021		2020
Prepaid research and development expenses	$	1,726	$	1,167
Interest receivable	348		104
Prepaid insurance	450		354
Other prepaid expenses and current assets	2,154		731
Total prepaid expenses and other current assets	$	4,678	$	2,356

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	December 31,
	2021		2020
Accrued compensation	$	5,491	$	4,473
Accrued research and development expenses	4,642		1,375

Accrued legal expenses	359		651
Other accrued liabilities	2,616		751
Total accrued liabilities	$	13,108	$	7,250

Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments [Abstract]

Summary of Short-term and Long-term Investments

The following tables summarize the Company’s short-term and long-term debt investments (in thousands):


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

Corporate bonds	$	30,571	$	2	$	(7)	$	30,566
Commercial paper	34,890		2		(5)		34,887
U.S. Treasury securities	9,552		—		(13)		9,539

Total investments	$	75,013	$	4	$	(25)	$	74,992


	December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

Corporate bonds	$	3,256	$	2	$	—	$	3,258

U.S. Treasury securities	28,717		1		(3)		28,715

Total investments	$	31,973	$	3	$	(3)	$	31,973

Summary of Investments with Unrealized Losses, Aggregated by Investment Type and the Length of Time


	December 31, 2021
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Corporate bonds	$	28,362	$	(7)	$	—	$	—	$	28,362	$	(7)
Commercial paper	8,991		(5)		—		—		8,991		(5)
U.S. Treasury securities	9,539		(13)		—		—		9,539		(13)

Total	$	46,892	$	(25)	$	—	$	—	$	46,892	$	(25)
Number of securities with unrealized losses			18				—				18


	December 31, 2020
	Less than 12 Months				Greater than 12 Months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss



U.S. Treasury securities	$	16,598	$	(3)	$	—	$	—	$	16,598	$	(3)

Total	$	16,598	$	(3)	$	—	$	—	$	16,598	$	(3)
Number of securities with unrealized losses			6				—				6

Summary of the Scheduled Maturity of Company Investments

The following table summarizes the scheduled maturity for the Company’s debt investments at December 31, 2021 (in thousands):


	December 31, 2021
Maturing in one year or less	$	72,970
Maturing after one year through two years	2,022
Total debt investments	$	74,992

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment, net

Property and equipment, net of accumulated depreciation consisted of the following (in thousands):


	December 31,
	2021		2020
Lab equipment	$	2,341	$	2,323
Leasehold improvements	1,713		1,584
Computer equipment	817		1,207
Office furniture and equipment	520		520
Property and equipment	5,391		5,634
Less accumulated depreciation	(5,138)		(5,420)
Property and equipment, net of accumulated depreciation	$	253	$	214

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Operating Lease Right-of-Use Assets and Liabilities

The following table sets forth the operating lease right-of-use assets and liabilities as of December 31, 2021 (in thousands):


Assets
Operating Lease Right-of-Use Assets	$	2,404

Liabilities
Operating Lease Short-term Liabilities (recorded within Accrued liabilities)	$	432
Operating Lease Long-term Liabilities (recorded within Lease-related obligations)	2,392
Total Operating Lease Liabilities	$	2,824

Operating Lease Maturity

Operating lease payments over the remainder of the lease terms are as follows (in thousands):


Years Ending December 31,	As of December 31, 2021

2022	637
2023	736
2024	759
2025	781
2026	467
Total future minimum rental payments	$	3,380
Less amount of lease payments representing interest	556
Total present value of lease payments	$	2,824

Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of Shares Reserved for Future Issuance

The Company has reserved shares of common stock for future issuances as follows:


	December 31,
	2021	2020

For exercise of outstanding common stock options	11,649,594	8,906,271
For delivery upon vesting of outstanding restricted stock units	896,222	1,133,049
For future equity awards under the 2013 Equity Incentive Plan	2,076,923	3,342,555
For future purchases under the 2013 Employee Stock Purchase Plan	2,298,817	2,419,213
Total shares of common stock reserved for future issuances	16,921,556	15,801,088

Schedule of Fair Value Assumptions, Stock Options

The following table illustrates the assumptions for the Black-Scholes model used in determining the fair value of the stock options granted:


	Years Ended December 31,
	2021			2020			2019
Expected volatility	95.84		%	93.24		%	88.77		%
Expected term (in years)	6.0			6.0			6.0
Weighted-average risk-free interest rate	0.71		%	1.24		%	2.42		%
Expected dividend yield	—		%	—		%	—		%
Weighted-average fair value per option	$	6.67		$	1.78		$	1.71

Summary of Activity Related to Stock Options

A summary of activity related to the Company’s stock options is as follows:


	Number of Options Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in Years)	Total Intrinsic Value
Balance, December 31, 2019	8,390,304	$	8.36	7.47
Granted	3,508,080	2.37		—
Exercised	(409,988)	2.41		—
Forfeited	(2,575,125)	11.80		—
Balance, December 31, 2020	8,913,271	$	5.28	7.52
Granted	3,903,750	8.74		—
Exercised	(909,997)	4.69		—
Forfeited	(257,432)	15.12		—
Balance, December 31, 2021	11,649,592	$	6.27	7.65	$	25,754
Exercisable at December 31, 2021	6,133,945	$	6.62	6.83	$	15,293
Vested or expected to vest at December 31, 2021	10,855,470	$	6.28	7.58	$	24,368

Schedule of Other Information Regarding Stock Options

Other information regarding the Company’s stock options is as follows (in thousands, except per share data):


	Years Ended December 31,
	2021		2020		2019
Weighted-average grant-date fair value per share of options granted	$	6.67	$	1.78	$	1.71
Total intrinsic value of options exercised	$	3,496	$	355	$	10
Total fair value of shares vested	$	8,642	$	4,188	$	6,798

Schedule of Share-based Compensation, Shares Authorized


	Outstanding				Exercisable
Exercise Price Range ($)	Number	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price		Number	Weighted-Average Exercise Price
1.37 to 7.57	7,273,390	7.55	$	2.89	4,424,385	$	2.97
7.58 to 8.06	814,900	6.13	7.98		617,400	8.02
8.07 to 18.75	3,162,602	8.86	9.61		693,460	10.69
18.76 to 53.74	398,700	3.06	37.86		398,700	37.86

1.37 to 53.74	11,649,592	7.65	$	6.27	6,133,945	$	6.62

Schedule of Fair Value Assumptions, Employee Stock Purchase Plan

The following table illustrates the assumptions for the Black-Scholes model used in determining the fair value of the ESPP purchase rights:


	Years Ended December 31,
	2021			2020			2019
Expected volatility	97.54		%	75.39		%	57.22		%
Expected term (in years)	0.71			1.28			1.23
Weighted-average risk-free interest rate	0.25		%	0.37		%	2.36		%
Expected dividend yield	—		%	—		%	—		%
Weighted-average option value per share	$	6.55		$	0.93		$	1.00

Summary of Activity Related to Restricted Stock Units

A summary of activity related to the Company’s RSUs is as follows:


	Number of Restricted Stock Units Outstanding	Weighted-Average Grant-Date Fair Value
Balance, December 31, 2020	1,133,049	$	2.61
Granted	216,875	9.28
Share issuance	(430,002)	2.88
Forfeited	(23,700)	6.80
Balance, December 31, 2021	896,222	$	3.98

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs


	Years Ended December 31,
	2021		2020		2019
Income Statement Classification:

Research and development expense	$	6,611	$	2,969	$	4,089


General and administrative expense	5,649		2,599		5,439

Total stock-based compensation expense	$	12,260	$	5,568	$	9,528

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation of the Difference between the Benefit for Income Taxes and Income Taxes at the Statutory U.S. Federal Income Tax Rate


	2021				2020				2019
	Amount		% of Pretax Earnings		Amount		% of Pretax Earnings		Amount		% of Pretax Earnings
Income tax benefit at statutory rate	$	(36,379)	21.0	%	$	(9,140)	21.0	%	$	(23,641)	21.0	%
State income taxes	(8,060)		4.7	%	(138)		0.3	%	(1,596)		1.4	%
Research and development credits	(1,565)		0.9	%	(1,088)		2.5	%	(1,190)		1.1	%
In process R&D	26,395		(15.2)	%	—		—	%	—		—	%
Permanent items	711		(0.4)	%	505		(1.2)	%	696		(0.6)	%
Provision to return adjustments	126		(0.1)	%	81		(0.2)	%	937		(0.8)	%
Effect of change in federal tax rate	—		—	%	—		—	%	—		—	%
Effect of change in state tax rate	3,478		(2.0)	%	1,139		(2.6)	%	(117)		0.1	%
Removal of excess tax benefit	—		—	%	—		—	%	—		—	%
Increase in unrecognized tax benefits	439		(0.3)	%	272		(0.6)	%	298		(0.3)	%
Current year forfeitures	435		(0.3)	%	4,026		(9.2)	%	—		—	%
Change in valuation allowance	14,420		(8.3)	%	4,343		(10.0)	%	24,613		(21.9)	%
Net benefit	$	—	—	%	$	—	—	%	$	—	—	%

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities at December 31, 2021 and 2020 were as follows (in thousands):


	December 31,
	2021		2020
Deferred tax assets:
Domestic net operating loss carryforwards	$	138,548	$	123,381

Research and development expenses	1,191		293
Capitalized Section 174 expenses	—		—
License fees	14,131		12,556
Research and development credits	17,738		15,498
Capital loss carryforwards	484		403
Accrued bonuses	888		943
Share-based compensation	4,885		3,541
Other	1,457		961
Total gross deferred tax assets	179,322		157,576
Valuation allowance	(178,705)		(156,973)
Total deferred tax assets	617		603
Deferred tax liabilities:
Right-of-use asset	(617)		(603)
Total deferred tax liabilities	(617)		(603)
Total deferred tax assets and liabilities, net	$	—	$	—

Summary of Uncertain Tax Benefit

Therefore, the Company recognized an uncertain tax benefit associated with the federal R&D credit carryover during the years ended December 31, 2021 and 2020, as follows (in thousands):


Balance at December 31, 2019	$	4,023
Increases related to 2020	272
Increases related to prior periods	—
Balance at December 31, 2020	4,295
Increases related to 2021	391
Increases related to prior periods	48
Balance at December 31, 2021	$	4,734

Oncoceutics Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Asset Acquisition

The following represents the consideration paid and purchase price allocation for the acquisition of Oncoceutics (in thousands, except for per share data):


Cash	$	23,836
One-year closing anniversary payment	14,000

Shares common stock issued as consideration	8,723,769
Stock price per share on effective date	4.98
Value of estimated common stock consideration	43,445
Total consideration	$	81,281

Net assets acquired	$	(1,310)
IPR&D assets expensed	82,591
Total purchase price allocated	$	81,281

Transaction costs expensed to IPR&D(1)	$	299
Total IPR&D expensed	$	82,890

Restructuring Costs (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes the restructuring charges (in thousands) recorded for the twelve months ended December 31, 2019:


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Fixed Asset Disposals		Total
Research and development	$	1,437	$	2,021	$	339	$	—	$	3,797
General and administrative	1,909		—		—		—		1,909
Interest income and other, net	—		—		—		250		250
Total restructuring expenses	$	3,346	$	2,021	$	339	$	250	$	5,956

Schedule of Restructuring Reserve by Type of Cost


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Fixed Asset Disposals		Total
Balance at January 1, 2019	$	—	$	—	$	—	$	—	$	—
Accruals	3,335		2,131		315		—		5,781
Revised estimates	11		(621)		24		250		(336)
Payments	(3,163)		(1,483)		(229)		(250)		(5,125)
Balance at December 31, 2019	$	183	$	27	$	110	$	—	$	320

The following table sets forth the accrual activity for employee termination benefits and contract close-out costs (in thousands) for the twelve months ended December 31, 2020.


	Employee Termination Benefits		Clinical Trial Close-out Costs		Other Development Costs		Total
Balance at December 31, 2019	$	183	$	27	$	110	$	320
Revised estimates	—		(23)		(10)		(33)
Payments	(183)		(4)		(100)		(287)
Balance at December 31, 2020	$	—	$	—	$	—	$	—

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information


	2021 Quarters
	Fourth		Third		Second		First
Revenue	$	46	$	107	$	391	$	1,435
Operating loss	(39,532)		(18,600)		(17,815)		(97,453)
Net loss	(39,498)		(18,560)		(17,763)		(97,415)
Net loss per share, basic and diluted	$	(0.45)	$	(0.21)	$	(0.21)	$	(1.21)
Weighted-average shares outstanding, basic and diluted	86,867,070		86,335,357		86,225,836		80,204,094


	2020 Quarters
	Fourth		Third		Second		First
Revenue	$	1,120	$	1,609	$	1,402	$	1,241
Operating loss	(11,757)		(11,560)		(10,286)		(10,913)
Net loss	(11,675)		(11,411)		(10,016)		(10,420)
Net loss per share, basic and diluted	$	(0.19)	$	(0.18)	$	(0.16)	$	(0.17)
Weighted-average shares outstanding, basic and diluted	62,702,181		62,242,456		62,042,778		61,742,035

The Business and Summary of Significant Accounting Policies (Narrative) (Details)	1 Months Ended					3 Months Ended								12 Months Ended
	Oct. 31, 2019 USD ($)	Feb. 28, 2011 USD ($)	Feb. 28, 2011 segment	Feb. 28, 2011 contract	Feb. 28, 2011 extension	Dec. 31, 2021 USD ($) grant	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) product segment grant shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) shares
Class of Stock
Number of product candidates \| product														2
Investments
Accumulated other comprehensive loss, net						$ (21,000)				$ 0				$ (21,000)	$ 0
Interest income and other, net														164,000	994,000	$ 3,407,000
Inventory
Inventory, work in process, gross						2,800,000								2,800,000
Inventory, finished goods, gross						0								0
Property and Equipment
Impairment of long-lived assets														0	0
Revenue Recognition
Contract revenue	$ 5,000,000					46,000	$ 107,000	$ 391,000	$ 1,435,000	$ 1,120,000	$ 1,609,000	$ 1,402,000	$ 1,241,000	1,979,000	5,372,000	12,519,000
Defined Contribution Plan
Defined contribution plan, cost recognized														$ 400,000	$ 300,000	$ 300,000
Basic and Diluted Net Loss Per Share of Common Stock
Antidilutive shares excluded from earnings per share calculation (in shares) \| shares														4,672,859	1,162,161	1,571,356
Segments
Number of operating segments \| segment														1
Scenario, Adjustment
Investments
Accumulated other comprehensive loss, net						(2,000)								$ (2,000)
Interest income and other, net														$ 2,000
Minimum
Property and Equipment
Property and equipment, useful life														3 years
Maximum
Property and Equipment
Property and equipment, useful life														5 years
Grant \| Oncoceutics, Inc.
Revenue Recognition
Contract revenue														$ 400,000
Contract with customer, asset, after allowance for credit loss						$ 200,000								200,000
BARDA
Revenue Recognition
Contract revenue														$ 1,600,000	$ 5,300,000	$ 7,600,000
Number of base segments \| segment			1
Number of option segments			4		4
Number of contracts \| contract				5
BARDA \| Expense Reimbursement
Revenue Recognition
Contract revenue		$ 72,500,000
BARDA \| Fees
Revenue Recognition
Contract revenue		$ 4,600,000
SymBio Pharmaceuticals
Revenue Recognition
Contract revenue	5,000,000
Payment to be received upon achievement of milestones											$ 180,000,000
License agreement cost	$ 5,000,000
Federal Goverment \| Oncoceutics, Inc.
Revenue Recognition
Number of grants acquired \| grant						2								2
Private Foundations \| Oncoceutics, Inc.
Revenue Recognition
Number of grants acquired \| grant						2								2

The Business and Summary of Significant Accounting Policies (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	$ 72,970	$ 31,973
Fair value, measurements, recurring
Fair Value, Separate Account Investment
Cash equivalents	11,841	1,503
Short-term investments, available-for-sale	72,970	31,973
Long-term investments	2,022
Total assets	86,833	33,476
Fair value, measurements, recurring \| U.S. Treasury securities
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	7,517	28,715
Long-term investments	2,022
Fair value, measurements, recurring \| Commercial paper
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	34,887
Fair value, measurements, recurring \| Corporate bonds
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	30,566	3,258
Fair value, measurements, recurring \| Money market funds
Fair Value, Separate Account Investment
Cash equivalents	11,841	1,503
Fair value, measurements, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Separate Account Investment
Cash equivalents	11,841	1,503
Short-term investments, available-for-sale	2,523	28,715
Long-term investments	2,022
Total assets	16,386	30,218
Fair value, measurements, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Treasury securities
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	2,523	28,715
Long-term investments	2,022
Fair value, measurements, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Commercial paper
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	0
Fair value, measurements, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate bonds
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	0	0
Fair value, measurements, recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds
Fair Value, Separate Account Investment
Cash equivalents	11,841	1,503
Fair value, measurements, recurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Separate Account Investment
Cash equivalents	0	0
Short-term investments, available-for-sale	70,447	3,258
Long-term investments	0
Total assets	70,447	3,258
Fair value, measurements, recurring \| Significant Other Observable Inputs (Level 2) \| U.S. Treasury securities
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	4,994	0
Long-term investments	0
Fair value, measurements, recurring \| Significant Other Observable Inputs (Level 2) \| Commercial paper
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	34,887
Fair value, measurements, recurring \| Significant Other Observable Inputs (Level 2) \| Corporate bonds
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	30,566	3,258
Fair value, measurements, recurring \| Significant Other Observable Inputs (Level 2) \| Money market funds
Fair Value, Separate Account Investment
Cash equivalents	0	0
Fair value, measurements, recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Separate Account Investment
Cash equivalents	0	0
Short-term investments, available-for-sale	0	0
Long-term investments	0
Total assets	0	0
Fair value, measurements, recurring \| Significant Unobservable Inputs (Level 3) \| U.S. Treasury securities
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	0	0
Long-term investments	0
Fair value, measurements, recurring \| Significant Unobservable Inputs (Level 3) \| Commercial paper
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	0
Fair value, measurements, recurring \| Significant Unobservable Inputs (Level 3) \| Corporate bonds
Fair Value, Separate Account Investment
Short-term investments, available-for-sale	0	0
Fair value, measurements, recurring \| Significant Unobservable Inputs (Level 3) \| Money market funds
Fair Value, Separate Account Investment
Cash equivalents	$ 0	$ 0

The Business and Summary of Significant Accounting Policies (Schedule of Prepaid and Other Current Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current
Prepaid research and development expenses	$ 1,726	$ 1,167
Interest receivable	348	104
Prepaid insurance	450	354
Other prepaid expenses and current assets	2,154	731
Total prepaid expenses and other current assets	$ 4,678	$ 2,356

The Business and Summary of Significant Accounting Policies (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Liabilities, Current
Accrued compensation	$ 5,491	$ 4,473
Accrued research and development expenses	4,642	1,375
Accrued legal expenses	359	651
Other accrued liabilities	2,616	751
Total accrued liabilities	$ 13,108	$ 7,250

Investments - Summary of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments
Amortized Cost	$ 75,013	$ 31,973
Gross Unrealized Gains	4	3
Gross Unrealized Losses	(25)	(3)
Estimated Fair Value	74,992	31,973
Corporate bonds
Schedule of Investments
Amortized Cost	30,571	3,256
Gross Unrealized Gains	2	2
Gross Unrealized Losses	(7)	0
Estimated Fair Value	30,566	3,258
Commercial paper
Schedule of Investments
Amortized Cost	34,890
Gross Unrealized Gains	2
Gross Unrealized Losses	(5)
Estimated Fair Value	34,887
U.S. Treasury securities
Schedule of Investments
Amortized Cost	9,552	28,717
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(13)	(3)
Estimated Fair Value	$ 9,539	$ 28,715

Investments - Summary of Investments with Unrealized Losses, Aggregated by Investment Type and the Length of Time (Details) $ in Thousands	Dec. 31, 2021 USD ($) security	Dec. 31, 2020 USD ($) security
Schedule of Investments
Fair value, less than 12 months	$ 46,892	$ 16,598
Unrealized loss, less than 12 months	(25)	(3)
Fair value, greater than 12 months	0	0
Unrealized loss, greater than 12 months	0	0
Fair value, total	46,892	16,598
Unrealized loss, total	$ (25)	$ (3)
Number of securities with unrealized losses, less than 12 months \| security	18	6
Number of securities with unrealized losses, greater than 12 months \| security	0	0
Number of securities with unrealized losses, total \| security	18	6
Corporate bonds
Schedule of Investments
Fair value, less than 12 months	$ 28,362
Unrealized loss, less than 12 months	(7)
Fair value, greater than 12 months	0
Unrealized loss, greater than 12 months	0
Fair value, total	28,362
Unrealized loss, total	(7)
Commercial paper
Schedule of Investments
Fair value, less than 12 months	8,991
Unrealized loss, less than 12 months	(5)
Fair value, greater than 12 months	0
Unrealized loss, greater than 12 months	0
Fair value, total	8,991
Unrealized loss, total	(5)
U.S. Treasury securities
Schedule of Investments
Fair value, less than 12 months	9,539	$ 16,598
Unrealized loss, less than 12 months	(13)	(3)
Fair value, greater than 12 months	0	0
Unrealized loss, greater than 12 months	0	0
Fair value, total	9,539	16,598
Unrealized loss, total	$ (13)	$ (3)

Investments - Available for Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Investments [Abstract]
Maturing in one year or less	$ 72,970
Maturing after one year through two years	2,022
Total debt investments	$ 74,992	$ 31,973

Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Net
Property and equipment	$ 5,391	$ 5,634
Less accumulated depreciation	(5,138)	(5,420)
Property and equipment, net of accumulated depreciation	253	214
Lab equipment
Property, Plant and Equipment, Net
Property and equipment	2,341	2,323
Leasehold improvements
Property, Plant and Equipment, Net
Property and equipment	1,713	1,584
Computer equipment
Property, Plant and Equipment, Net
Property and equipment	817	1,207
Office furniture and equipment
Property, Plant and Equipment, Net
Property and equipment	$ 520	$ 520

Commitments and Contingencies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) ft²	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Weighted average remaining lease term	4 years 6 months 29 days
Lease expense under operating leases	$ 700	$ 700
Weighted average discount rate	7.89%
Lease payments	$ 500	700
Area of sublease space (in sq ft) \| ft²	3,537
Sublease income	$ 12	71
BARDA \| Refundable Agreements
Disaggregation of Revenue
Provision for refundable amounts	$ 52	$ 38

Commitments and Contingencies - Operating Lease Right-of-Use Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Operating Lease Right-of-Use Assets	$ 2,404	$ 2,825
Liabilities
Operating Lease Short-term Liabilities (recorded within Accrued liabilities)	432
Operating Lease Long-term Liabilities (recorded within Lease-related obligations)	2,392	$ 2,814
Total Operating Lease Liabilities	$ 2,824
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Liability	Liability

Commitments and Contingencies - Maturity Analysis of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Years Ending December 31,
2022	$ 637
2023	736
2024	759
2025	781
2026	467
Total future minimum rental payments	3,380
Less amount of lease payments representing interest	556
Total Operating Lease Liabilities	$ 2,824

Stockholders' Equity (Deficit) (Narrative) (Details) - USD ($)					1 Months Ended		12 Months Ended
	Jan. 20, 2021	Jan. 01, 2021	Jan. 01, 2020	Feb. 05, 2019	May 31, 2019	Apr. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 10, 2020	Feb. 28, 2013
Share-based Compensation Arrangement by Share-based Payment Award
Common stock, shares authorized (in shares)							200,000,000	200,000,000
Common stock, shares issued (in shares)							86,884,266	62,816,039
Common stock, shares outstanding (in shares)							86,884,266	62,816,039
Shares reserved for future issuance (in shares)							16,921,556	15,801,088
Liability							$ 13,108,000	$ 7,250,000
Proceeds from exercise of all share-based payment arrangements							4,600,000	1,400,000	$ 400,000
Tax benefit from share-based payment arrangements							$ 0	$ 0	$ 0
Accelerated compensation period				15 months	12 months
Accelerated compensation				$ 1,800,000	$ 700,000
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)							11,649,594	8,906,271
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation costs, period of recognition							2 years 4 months 20 days
Shares reserved for future issuance (in shares)							896,222	1,133,049
Shares issued pursuant to vesting of RSUs (in shares)							430,002	478,966
Unrecognized compensation costs							$ 2,300,000
Public Offering
Share-based Compensation Arrangement by Share-based Payment Award
Sale of common stock, amount authorized										$ 75,000,000
Public Stock Offering
Share-based Compensation Arrangement by Share-based Payment Award
Common stock sold (in shares)	11,765,000
Common stock sold (in USD per share)	$ 8.50
Sale of common stock, net offering proceeds	$ 107,800,000
Underwriter's Option
Share-based Compensation Arrangement by Share-based Payment Award
Common stock sold (in shares)	1,764,750
Common stock sold (in USD per share)	$ 7.99
Purchase option term	30 days
Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Options granted (in shares)						1,750,000
Chief Executive Officer \| Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Expiration period						10 years
Vesting period						4 years
Year One \| Chief Executive Officer \| Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage						25.00%
Year Two \| Chief Executive Officer \| Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage						25.00%
Year Three \| Chief Executive Officer \| Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage						25.00%
Year Four \| Chief Executive Officer \| Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage						25.00%
The 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, equity increase percentage							4.00%
Unrecognized compensation costs							$ 19,600,000
Unrecognized compensation costs, period of recognition							2 years 9 months 10 days
Shares reserved for future issuance (in shares)							2,076,923	3,342,555
The 2013 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, equity increase percentage							1.00%
Number of shares authorized to be granted (in shares)											704,225
Number of shares authorized, increase amount (in shares)							422,535
Number of additional shares authorized (in shares)		422,535	422,535
Number of shares available for grant (in shares)		3,916,401	3,493,866				3,916,401
Shares reserved for future issuance (in shares)							2,298,817	2,419,213
Percentage of pay that employee can contribute, maximum							15.00%
Discount from market price, entry date							15.00%
Discount from market price, purchase date							15.00%
Employee stock purchase plan, purchase period							6 months
Employee stock purchase plan, automatic reset participation period							24 months
Employee stock purchase plan purchases (in shares)							542,931	337,072
Liability							$ 400,000

Stockholders' Equity (Deficit) (Schedule of Shares Reserved for Future Issuance) (Details) - shares	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)	16,921,556	15,801,088
The 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)	2,076,923	3,342,555
The 2013 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)	2,298,817	2,419,213
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)	11,649,594	8,906,271
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Shares reserved for future issuance (in shares)	896,222	1,133,049

Stockholders' Equity (Deficit) (Assumption Used to Determine the Fair Value of Options Granted) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average fair value per option (in usd per share)	$ 6.67	$ 1.78	$ 1.71
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility	95.84%	93.24%	88.77%
Expected term (in years)	6 years	6 years	6 years
Weighted-average risk-free interest rate	0.71%	1.24%	2.42%
Expected dividend yield	0.00%	0.00%	0.00%
Weighted-average fair value per option (in usd per share)	$ 6.67	$ 1.78	$ 1.71

Stockholders' Equity (Deficit) (Summary of Activity Related to Stock Options) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Options Outstanding
Beginning balance (in shares)	8,913,271	8,390,304
Granted (in shares)	3,903,750	3,508,080
Exercised (in shares)	(909,997)	(409,988)
Forfeited (in shares)	(257,432)	(2,575,125)
Ending balance (in shares)	11,649,592	8,913,271	8,390,304
Exercisable (in shares)	6,133,945
Vested and expected to vest (in shares)	10,855,470
Weighted-Average Exercise Price
Beginning balance (in usd per share)	$ 5.28	$ 8.36
Granted (in usd per share)	8.74	2.37
Exercised (in usd per share)	4.69	2.41
Forfeited (in usd per share)	15.12	11.80
Ending balance (in usd per share)	6.27	$ 5.28	$ 8.36
Exercisable (in usd per share)	6.62
Vested or expected to vest (in usd per share)	$ 6.28
Additional Disclosure
Weighted-average remaining contractual life (in years)	7 years 7 months 24 days	7 years 6 months 7 days	7 years 5 months 19 days
Weighted-average remaining contractual life (in years), Exercisable	6 years 9 months 29 days
Weighted-average remaining contractual life (in years), Vested or expected to vest	7 years 6 months 29 days
Total intrinsic value of options outstanding	$ 25,754
Total intrinsic value of options exercisable	15,293
Total intrinsic value of options vested or expected to vest	$ 24,368

Stockholders' Equity (Deficit) (Schedule of other information regarding stock options) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Weighted-average fair value per option (in usd per share)	$ 6.67	$ 1.78	$ 1.71
Total intrinsic value of options exercised	$ 3,496	$ 355	$ 10
Total fair value of shares vested	$ 8,642	$ 4,188	$ 6,798

Stockholders' Equity (Deficit) (Schedule of Share-based Compensation, Shares Authorized) (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
1.37 to 7.57
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, lower range limit (in usd per share)	$ 1.37
Share-based compensation, upper range limit (in usd per share)	$ 7.57
Share-based compensation, number of outstanding options (in shares) \| shares	7,273,390
Share-based compensation, outstanding options, weighted average remaining contractual term	7 years 6 months 18 days
Share-based compensation, outstanding options, weighted average exercise price (in usd per share)	$ 2.89
Share-based compensation, number of exercisable options (in shares) \| shares	4,424,385
Share-based compensation, exercisable options, weighted average exercise price (in usd per share)	$ 2.97
7.58 to 8.06
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, lower range limit (in usd per share)	7.58
Share-based compensation, upper range limit (in usd per share)	$ 8.06
Share-based compensation, number of outstanding options (in shares) \| shares	814,900
Share-based compensation, outstanding options, weighted average remaining contractual term	6 years 1 month 17 days
Share-based compensation, outstanding options, weighted average exercise price (in usd per share)	$ 7.98
Share-based compensation, number of exercisable options (in shares) \| shares	617,400
Share-based compensation, exercisable options, weighted average exercise price (in usd per share)	$ 8.02
8.07 to 18.75
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, lower range limit (in usd per share)	8.07
Share-based compensation, upper range limit (in usd per share)	$ 18.75
Share-based compensation, number of outstanding options (in shares) \| shares	3,162,602
Share-based compensation, outstanding options, weighted average remaining contractual term	8 years 10 months 9 days
Share-based compensation, outstanding options, weighted average exercise price (in usd per share)	$ 9.61
Share-based compensation, number of exercisable options (in shares) \| shares	693,460
Share-based compensation, exercisable options, weighted average exercise price (in usd per share)	$ 10.69
18.76 to 53.74
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, lower range limit (in usd per share)	18.76
Share-based compensation, upper range limit (in usd per share)	$ 53.74
Share-based compensation, number of outstanding options (in shares) \| shares	398,700
Share-based compensation, outstanding options, weighted average remaining contractual term	3 years 21 days
Share-based compensation, outstanding options, weighted average exercise price (in usd per share)	$ 37.86
Share-based compensation, number of exercisable options (in shares) \| shares	398,700
Share-based compensation, exercisable options, weighted average exercise price (in usd per share)	$ 37.86
1.37 to 53.74
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation, lower range limit (in usd per share)	1.37
Share-based compensation, upper range limit (in usd per share)	$ 53.74
Share-based compensation, number of outstanding options (in shares) \| shares	11,649,592
Share-based compensation, outstanding options, weighted average remaining contractual term	7 years 7 months 24 days
Share-based compensation, outstanding options, weighted average exercise price (in usd per share)	$ 6.27
Share-based compensation, number of exercisable options (in shares) \| shares	6,133,945
Share-based compensation, exercisable options, weighted average exercise price (in usd per share)	$ 6.62

Stockholders' Equity (Deficit) (Schedule of Share-Based Compensation) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average fair value per option (in usd per share)	$ 6.67	$ 1.78	$ 1.71
The 2013 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award
Expected volatility	97.54%	75.39%	57.22%
Expected term (in years)	8 months 15 days	1 year 3 months 10 days	1 year 2 months 23 days
Weighted-average risk-free interest rate	0.25%	0.37%	2.36%
Expected dividend yield	0.00%	0.00%	0.00%
Weighted-average fair value per option (in usd per share)	$ 6.55	$ 0.93	$ 1.00

Stockholders' Equity (Deficit) (Summary of Activity Related to Restricted Stock Units) (Details) - Restricted stock units (RSUs)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Number of Restricted Stock Units Outstanding
Beginning balance (in shares) \| shares	1,133,049
Granted (in shares) \| shares	216,875
Shares issuance (in shares) \| shares	(430,002)
Forfeited (in shares) \| shares	(23,700)
Ending balance (in shares) \| shares	896,222
Weighted-Average Grant-Date Fair Value
Beginning balance (in usd per share) \| $ / shares	$ 2.61
Granted (in usd per share) \| $ / shares	9.28
Shares issuance (in usd per share) \| $ / shares	2.88
Forfeited (in usd per share) \| $ / shares	6.80
Ending balance (in usd per share) \| $ / shares	$ 3.98

Stockholders' Equity (Deficit) (Schedule of Allocation of Recognized Period Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Allocated share-based compensation expense	$ 12,260	$ 5,568	$ 9,528
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award
Allocated share-based compensation expense	6,611	2,969	4,089
General and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award
Allocated share-based compensation expense	$ 5,649	$ 2,599	$ 5,439

Income Taxes (Reconciliation of the Difference between the Benefit for Income Taxes and Income Taxes at the Statutory U.S. Federal Income Tax Rate) (Alternate) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amount
Income tax benefit at statutory rate	$ (36,379,000)	$ (9,140,000)	$ (23,641,000)
State income taxes	(8,060,000)	(138,000)	(1,596,000)
Research and development credits	(1,565,000)	(1,088,000)	(1,190,000)
In process R&D	26,395,000	0	0
Permanent items	711,000	505,000	696,000
Provision to return adjustments	126,000	81,000	937,000
Effect of change in federal tax rate	0	0	0
Effect of change in state tax rate	3,478,000	1,139,000	(117,000)
Removal of excess tax benefit	0	0	0
Increase in unrecognized tax benefits	439,000	272,000	298,000
Current year forfeitures	435,000	4,026,000	0
Change in valuation allowance	14,420,000	4,343,000	24,613,000
Net benefit	$ 0	$ 0	$ 0
% of Pretax Earnings
Income tax benefit at statutory rate	21.00%	21.00%	21.00%
State income taxes	4.70%	0.30%	1.40%
Research and development credits	0.90%	2.50%	1.10%
In process R&D	(15.20%)	0.00%	0.00%
Permanent items	(0.40%)	(1.20%)	(0.60%)
Provision to return adjustments	(0.10%)	(0.20%)	(0.80%)
Effect of change in federal tax rate	0.00%	0.00%	0.00%
Effect of change in state tax rate	(2.00%)	(2.60%)	0.10%
Removal of excess tax benefit	0.00%	0.00%	0.00%
Increase in unrecognized tax benefits	(0.30%)	(0.60%)	(0.30%)
Current year forfeitures	(0.30%)	(9.20%)	0.00%
Change in valuation allowance	(8.30%)	(10.00%)	(21.90%)
Net benefit	0.00%	0.00%	0.00%

Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Domestic net operating loss carryforwards	$ 138,548	$ 123,381
Research and development expenses	1,191	293
Capitalized Section 174 expenses	0	0
License fees	14,131	12,556
Research and development credits	17,738	15,498
Capital loss carryforwards	484	403
Accrued bonuses	888	943
Share-based compensation	4,885	3,541
Other	1,457	961
Total gross deferred tax assets	179,322	157,576
Valuation allowance	(178,705)	(156,973)
Total deferred tax assets	617	603
Deferred tax liabilities:
Right-of-use asset	(617)	(603)
Total deferred tax liabilities	(617)	(603)
Total deferred tax assets and liabilities, net	$ 0	$ 0

Income Taxes (Narrative) (Details) - USD ($)		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Nov. 18, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2014	Dec. 31, 2007
Operating Loss Carryforwards
Income tax expense (benefit)		$ 0	$ 0	$ 0
Loss limitation ownership change benchmark amount						$ 762,000
Annual limitation of operating loss carryforwards					$ 6,700,000
Decrease in deferred tax asset		7,100,000
Decrease in deferred tax asset valuation allowance	$ 7,100,000
Penalties and interest accrued		0
United Kingdom
Operating Loss Carryforwards
Undisturbed foreign earnings			0
Federal
Operating Loss Carryforwards
Operating loss carryforwards		637,900,000	551,000,000
Operating loss carryforwards, subject to expiration		414,700,000
Operating loss carryforwards, not subject to expiration		223,200,000
State
Operating Loss Carryforwards
Operating loss carryforwards		455,400,000	$ 388,500,000
Operating loss carryforwards, subject to expiration		409,200,000
Operating loss carryforwards, not subject to expiration		46,200,000
Tax Credit Carryforward \| Federal
Operating Loss Carryforwards
Tax credit carryforward		23,300,000
Capital Loss Carryforward \| Federal
Operating Loss Carryforwards
Tax credit carryforward		$ 1,900,000

Income Taxes (Summary of Uncertain Tax Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Beginning balance	$ 4,295	$ 4,023
Increase related to current year tax positions	391	272
Increases related to prior periods	48	0
Ending balance	$ 4,734	$ 4,295

Significant Agreements (Details) shares in Millions			1 Months Ended				3 Months Ended								12 Months Ended			15 Months Ended
Significant Agreements (Details) shares in Millions	Sep. 30, 2019	Jul. 26, 2019 USD ($) shares	Oct. 31, 2019 USD ($)	Feb. 28, 2011 USD ($)	Feb. 28, 2011 segment	Feb. 28, 2011 extension	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)
Long-term Purchase Commitment
Contract revenue			$ 5,000,000				$ 46,000	$ 107,000	$ 391,000	$ 1,435,000	$ 1,120,000	$ 1,609,000	$ 1,402,000	$ 1,241,000	$ 1,979,000	$ 5,372,000	$ 12,519,000
License
Long-term Purchase Commitment
Contract revenue															51,000	98,000	4,915,000
BARDA
Long-term Purchase Commitment
Number of option segments					4	4
Contract revenue															$ 1,600,000	5,300,000	7,600,000
BARDA \| Expense Reimbursement
Long-term Purchase Commitment
Contract revenue				$ 72,500,000
BARDA \| Fees
Long-term Purchase Commitment
Contract revenue				$ 4,600,000
Cantex Pharmaceuticals
Long-term Purchase Commitment
Upfront cash payment for license and development agreement		$ 30,000,000
Shares issued for license and development agreement (in shares) \| shares		10.0
Acquired in-process research and development																	65,000,000
Transaction costs		$ 100,000
Payments to be made for regulatory milestones (up to)		202,500,000
Payments to be made upon achievement of specified net sales levels (up to)		$ 385,000,000
Royalty percentage to be paid (at least)		10.00%
SymBio Pharmaceuticals
Long-term Purchase Commitment
Contract revenue			$ 5,000,000
Termination notice period	90 days
Payment to be received upon achievement of milestones												$ 180,000,000
SymBio Pharmaceuticals \| License
Long-term Purchase Commitment
Contract revenue																		$ 5,000,000
Ohara Pharmaceutical Co., Ltd.
Long-term Purchase Commitment
License agreement, nonrefundable regulatory milestone payment to be received																	$ 2,500,000
Sanjiu Medical & Pharmaceutical Co., Ltd.
Long-term Purchase Commitment
Payment to be received upon achievement of milestones											$ 5,000,000					$ 5,000,000		$ 5,000,000

Oncoceutics Acquisition - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Jan. 07, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2022
Asset Acquisition
Acquired in-process research and development			$ 82,890	$ 0	$ 65,045
Oncoceutics, Inc.
Asset Acquisition
Cash payment for acquisition	$ 25,000
Number of shares issued for acquisition	8,723,769
One-year closing anniversary payment	$ 14,000
Contingent consideration for acquisition	360,000
Liability for closing payment adjustments		$ 200	200
Accounts and notes receivable net		600	$ 600
Acquired in-process research and development	$ 82,591	$ 20,000
Oncoceutics, Inc. \| Subsequent Event
Asset Acquisition
Estimated post-closing, transaction expenses						$ 400

Oncoceutics Acquisition - Consideration Paid and Purchase Price Allocation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	Jan. 07, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Asset Acquisition
IPR&D assets expensed				$ 82,890	$ 0	$ 65,045
Oncoceutics, Inc.
Asset Acquisition
Cash	$ 23,836
One-year closing anniversary payment	$ 14,000
Shares common stock issued as consideration (in shares)	8,723,769
Stock price per share on effective date (in USD per share)	$ 4.98
Value of estimated common stock consideration	$ 43,445
Total consideration	81,281
Net assets acquired	(1,310)
IPR&D assets expensed	82,591	$ 20,000
Total purchase price allocated	81,281
Transaction costs expensed to IPR&D	299
Transaction costs expensed to IPR&D	$ 82,890
Transaction expenses			$ 600

Restructuring Costs (Details) $ in Thousands	1 Months Ended	12 Months Ended
Restructuring Costs (Details) $ in Thousands	May 31, 2019 employee	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Restructuring Cost and Reserve
Reduction in workforce \| employee	43
One-time employee termination benefits			$ 3,346
Accrued contract close-out costs			2,021
Other BCV development costs			339
Fixed asset disposals			250
Accrual balance		$ 0	320	$ 0
Revised estimates		(33)	(336)
Refunds of unused deposits		1,300
Trial Terminations
Restructuring Cost and Reserve
Change in accrual balance			1,500
Accrual balance		0	27	0
Revised estimates		(23)	(621)
Other Development Costs
Restructuring Cost and Reserve
Accrual balance		0	110	0
Revised estimates		(10)	24
Severance Accrual Balance
Restructuring Cost and Reserve
Accrual balance		0	183	$ 0
Revised estimates		$ 0	$ 11

Restructuring Costs - Summary of Restructuring Charges (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Restructuring Cost and Reserve
Employee Termination Benefits	$ 3,346
Clinical Trial Close-out Costs	2,021
Other Development Costs	339
Fixed Asset Disposals	250
Total	5,956
Research and development expense
Restructuring Cost and Reserve
Employee Termination Benefits	1,437
Clinical Trial Close-out Costs	2,021
Other Development Costs	339
Fixed Asset Disposals	0
Total	3,797
General and administrative expense
Restructuring Cost and Reserve
Employee Termination Benefits	1,909
Clinical Trial Close-out Costs	0
Other Development Costs	0
Fixed Asset Disposals	0
Total	1,909
Interest income and other, net
Restructuring Cost and Reserve
Employee Termination Benefits	0
Clinical Trial Close-out Costs	0
Other Development Costs	0
Fixed Asset Disposals	250
Total	$ 250

Restructuring Costs - Accrual Activity for Restructuring Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve
Beginning balance	$ 320	$ 0
Accruals		5,781
Revised estimates	(33)	(336)
Payments	(287)	(5,125)
Ending balance	0	320
Employee Termination Benefits
Restructuring Reserve
Beginning balance	183	0
Accruals		3,335
Revised estimates	0	11
Payments	(183)	(3,163)
Ending balance	0	183
Clinical Trial Close-out Costs
Restructuring Reserve
Beginning balance	27	0
Accruals		2,131
Revised estimates	(23)	(621)
Payments	(4)	(1,483)
Ending balance	0	27
Other Development Costs
Restructuring Reserve
Beginning balance	110	0
Accruals		315
Revised estimates	(10)	24
Payments	(100)	(229)
Ending balance	0	110
Fixed Asset Disposals
Restructuring Reserve
Beginning balance	$ 0	0
Accruals		0
Revised estimates		250
Payments		(250)
Ending balance		$ 0

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Oct. 31, 2019	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Selected Quarterly Financial Information [Abstract]
Revenues	$ 5,000	$ 46	$ 107	$ 391	$ 1,435	$ 1,120	$ 1,609	$ 1,402	$ 1,241	$ 1,979	$ 5,372	$ 12,519
Operating loss		(39,532)	(18,600)	(17,815)	(97,453)	(11,757)	(11,560)	(10,286)	(10,913)	(173,400)	(44,516)	(115,983)
Net loss		$ (39,498)	$ (18,560)	$ (17,763)	$ (97,415)	$ (11,675)	$ (11,411)	$ (10,016)	$ (10,420)	$ (173,236)	$ (43,522)	$ (112,576)
Net loss, basic (in dollars per share)		$ (0.45)	$ (0.21)	$ (0.21)	$ (1.21)	$ (0.19)	$ (0.18)	$ (0.16)	$ (0.17)	$ (2.04)	$ (0.70)	$ (2.03)
Net loss, diluted (in dollars per share)		$ (0.45)	$ (0.21)	$ (0.21)	$ (1.21)	$ (0.19)	$ (0.18)	$ (0.16)	$ (0.17)	$ (2.04)	$ (0.70)	$ (2.03)
Weighted-average shares outstanding, basic (in shares)		86,867,070	86,335,357	86,225,836	80,204,094	62,702,181	62,242,456	62,042,778	61,742,035	84,930,255	62,183,947	55,501,973
Weighted-average shares outstanding, diluted (in shares)		86,867,070	86,335,357	86,225,836	80,204,094	62,702,181	62,242,456	62,042,778	61,742,035	84,930,255	62,183,947	55,501,973

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
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Subsequent Event
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Debt instrument, term	4 years
Debt instrument, interest rate, stated percentage	4.75%
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Debt instrument, early termination fee	$ 500,000
Debt instrument, unused borrowing capacity, fee	$ 500,000
Number of installment payments (installment) \| installment	4
Prime Rate
Subsequent Event
Debt instrument, basis spread on variable rate	1.50%