Northwest Biotherapeutics (NWBO) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 08, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-35737
Entity Registrant Name	NORTHWEST BIOTHERAPEUTICS, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3306718
Entity Address, Address Line One	4800 Montgomery Lane
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	240
Local Phone Number	497-9024
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	NWBO
Security Exchange Name	NONE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,297,445,623
Entity Central Index Key	0001072379
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,939	$ 2,126
Prepaid expenses and other current assets	2,253	1,999
Total current assets	5,192	4,125
Non-current assets:
Property, plant and equipment, net	17,322	17,278
Right-of-use asset, net	4,515	4,183
Indefinite-lived intangible asset	1,292	1,292
Goodwill	626	626
Other assets	374	361
Total non-current assets	24,129	23,740
TOTAL ASSETS	29,321	27,865
Current liabilities:
Accounts payable and accrued expenses	17,913	10,244
Accounts payable and accrued expenses to related parties and affiliates	3,043	3,544
Convertible notes, net	1,825	3,765
Convertible notes at fair value	19,380	12,771
Notes payable, net	7,577	3,944
Contingent payable derivative liability	9,193	9,188
Warrant liability		944
Investor advances	207	7
Share payable	170	483
Lease liabilities	256	314
Total current liabilities	59,564	45,204
Non-current liabilities:
Convertible notes at fair value, net of current portion	3,774
Notes payable, net of current portion, net	20,695	20,312
Lease liabilities, net of current portion	4,828	4,454
Contingent payment obligation	4,700	4,950
Total non-current liabilities	33,997	29,716
Total liabilities	93,561	74,920
COMMITMENTS AND CONTINGENCIES (Note 12)
Stockholders' deficit:
Preferred stock ($0.001 par value); 100,000,000 shares authorized as of September 30, 2024 and December 31, 2023, respectively
Common stock ($0.001 par value); 1,700,000,000 shares authorized; 1,286.3 million and 1,175.5 million shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	1,286	1,175
Additional paid-in capital	1,333,981	1,291,316
Stock subscription receivable	(79)	(79)
Accumulated deficit	(1,415,276)	(1,359,721)
Accumulated other comprehensive (loss) income	(29)	1,536
Total stockholders' deficit	(80,117)	(65,773)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT	29,321	27,865
Series C Convertible Preferred Stock
Mezzanine equity:
Series C Convertible Preferred Stock, 10,000,000 shares designated; 1.0 million and 1.2 million shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $14.2 million	$ 15,877	$ 18,718

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,700,000,000	1,700,000,000
Common stock, shares issued	1,286,300,000	1,175,500,000
Common stock, shares outstanding	1,286,300,000	1,175,500,000
Series C Convertible Preferred Stock
Temporary equity, shares designated	10,000,000	10,000,000
Temporary equity, shares issued	1,000,000	1,200,000
Temporary equity, shares outstanding	998,000	1,209,000
Temporary equity, aggregate liquidation preference	$ 14.2	$ 14.2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Research and other	$ 357	$ 406	$ 1,151	$ 1,487
Revenue, Product and Service [Extensible Enumeration]	nwbo:ResearchAndOtherRevenueMember	nwbo:ResearchAndOtherRevenueMember	nwbo:ResearchAndOtherRevenueMember	nwbo:ResearchAndOtherRevenueMember
Operating costs and expenses:
Research and development	$ 8,130	$ 7,201	$ 24,365	$ 20,276
General and administrative	7,028	7,030	24,795	21,577
Total operating costs and expenses	15,158	14,231	49,160	41,853
Loss from operations	(14,801)	(13,825)	(48,009)	(40,366)
Other income (expense):
Change in fair value of derivative liabilities	(1,590)	(112)	939	3,875
Change in fair value of share payable	70	487	31	534
Change in fair value of convertible notes	3,087	(4,942)	4,621	(4,942)
Loss from extinguishment of debt	(6,820)	(1,768)	(9,905)	(3,648)
Interest expense	(2,080)	(1,670)	(5,279)	(3,999)
Foreign currency transaction gain (loss)	2,760	(1,692)	2,047	(76)
Total other loss	(4,573)	(9,697)	(7,546)	(8,256)
Net loss	(19,374)	(23,522)	(55,555)	(48,622)
Deemed dividend related to warrant modification	(132)	(519)	(1,141)	(1,433)
Net loss attributable to common stockholders	(19,506)	(24,041)	(56,696)	(50,055)
Other comprehensive income (loss)
Foreign currency translation adjustment	(2,253)	1,397	(1,565)	145
Total comprehensive loss	$ (21,759)	$ (22,644)	$ (58,261)	$ (49,910)
Net loss per share applicable to common stockholders, Basic	$ (0.02)	$ (0.02)	$ (0.05)	$ (0.05)
Net loss per share applicable to common stockholders, Diluted	$ (0.02)	$ (0.02)	$ (0.05)	$ (0.05)
Weighted average shares used in computing basic loss per share	1,258,532	1,134,359	1,220,472	1,106,111
Weighted average shares used in computing diluted loss per share	1,258,532	1,134,359	1,220,472	1,106,111

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Thousands, $ in Thousands	Series C Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Subscription Receivable	Accumulated Deficit	Accumulated Other Comprehensive Income	Total
Balance at the beginning (in shares) at Dec. 31, 2022	1,415
Balance at the beginning at Dec. 31, 2022	$ 23,060
Increase (Decrease) in Temporary Equity Deficit
Issuance of stock for cash	$ 9,899
Issuance of stock for cash (in shares)	729
Issuance of stock in lieu of debt redemption (in shares)	56
Issuance of stock in lieu of debt redemption	$ 1,013
Convertible preferred stock conversion	$ (6,536)	$ 11	$ 6,525				$ 6,536
Convertible preferred stock conversion (in shares)	(443)	11,081
Stock-based compensation (in shares)	16
Stock-based compensation	$ 230
Balance at the end (in shares) at Sep. 30, 2023	1,773
Balance at the end at Sep. 30, 2023	$ 27,666
Balance at the beginning at Dec. 31, 2022		$ 1,068	1,164,885	$ (79)	$ (1,297,122)	$ 3,145	(128,103)
Balance at the beginning (in shares) at Dec. 31, 2022		1,068,394
Increase (Decrease) in Stockholders' Deficit
Issuance of stock for cash	$ 9,899
Issuance of stock for cash (in shares)	729
Convertible preferred stock conversion	$ (6,536)	$ 11	6,525				6,536
Convertible preferred stock conversion (in shares)	(443)	11,081
Warrants exercised for cash		$ 12	2,789				2,801
Warrants exercised for cash (in shares)		12,448
Cashless warrants and stock options exercise		$ 21	(21)
Cashless warrants and stock options exercise (in shares)		20,433
Issuance of common stock for conversion of debt and accrued interest		$ 28	17,456				17,484
Issuance of common stock for conversion of debt and accrued interest (in shares)		27,563
Reclassification of warrant liabilities related to warrants exercised for cash			76,258				76,258
Stock-based compensation		$ 5	2,668				2,673
Stock-based compensation (in shares)		5,164
Warrants modification			2,200				2,200
Net loss					(48,622)		(48,622)
Deemed dividend related to warrants modification			(1,433)				(1,433)
Cumulative translation adjustment						145	145
Balance at the end at Sep. 30, 2023		$ 1,145	1,271,327	(79)	(1,345,744)	3,290	(70,061)
Balance at the end (in shares) at Sep. 30, 2023		1,145,083
Balance at the beginning (in shares) at Jun. 30, 2023	1,546
Balance at the beginning at Jun. 30, 2023	$ 25,385
Increase (Decrease) in Temporary Equity Deficit
Issuance of stock for cash	$ 5,143
Issuance of stock for cash (in shares)	405
Convertible preferred stock conversion	$ (2,974)	$ 4	2,970				2,974
Convertible preferred stock conversion (in shares)	(186)	4,651
Stock-based compensation (in shares)	8
Stock-based compensation	$ 112
Balance at the end (in shares) at Sep. 30, 2023	1,773
Balance at the end at Sep. 30, 2023	$ 27,666
Balance at the beginning at Jun. 30, 2023		$ 1,115	1,258,259	(79)	(1,322,222)	1,893	(61,034)
Balance at the beginning (in shares) at Jun. 30, 2023		1,115,183
Increase (Decrease) in Stockholders' Deficit
Issuance of stock for cash	$ 5,143
Issuance of stock for cash (in shares)	405
Convertible preferred stock conversion	$ (2,974)	$ 4	2,970				2,974
Convertible preferred stock conversion (in shares)	(186)	4,651
Warrants exercised for cash			32				32
Warrants exercised for cash (in shares)		128
Cashless warrants and stock options exercise		$ 11	(11)
Cashless warrants and stock options exercise (in shares)		10,554
Issuance of common stock for conversion of debt and accrued interest		$ 13	7,907				7,920
Issuance of common stock for conversion of debt and accrued interest (in shares)		12,403
Stock-based compensation		$ 2	1,563				1,565
Stock-based compensation (in shares)		2,164
Warrants modification			1,126				1,126
Net loss					(23,522)		(23,522)
Deemed dividend related to warrants modification			(519)				(519)
Cumulative translation adjustment						1,397	1,397
Balance at the end at Sep. 30, 2023		$ 1,145	1,271,327	(79)	(1,345,744)	3,290	(70,061)
Balance at the end (in shares) at Sep. 30, 2023		1,145,083
Balance at the beginning (in shares) at Dec. 31, 2023	1,209
Balance at the beginning at Dec. 31, 2023	$ 18,718
Increase (Decrease) in Temporary Equity Deficit
Issuance of stock for cash	$ 8,201
Issuance of stock for cash (in shares)	758
Issuance of Series C preferred stock for conversion of debt and accrued interest	$ 2,679
Issuance of Series C preferred stock for conversion of debt and accrued interest (in shares)	535
Convertible preferred stock conversion	$ (13,721)	$ 38	13,683				13,721
Convertible preferred stock conversion (in shares)	(1,504)	37,602
Balance at the end (in shares) at Sep. 30, 2024	998
Balance at the end at Sep. 30, 2024	$ 15,877
Balance at the beginning at Dec. 31, 2023		$ 1,175	1,291,316	(79)	(1,359,721)	1,536	(65,773)
Balance at the beginning (in shares) at Dec. 31, 2023		1,175,459
Increase (Decrease) in Stockholders' Deficit
Issuance of common stock for cash, net		$ 34	9,977				10,011
Issuance of common stock for cash, net (in shares)		33,488
Issuance of stock for cash	$ 8,201
Issuance of stock for cash (in shares)	758
Convertible preferred stock conversion	$ (13,721)	$ 38	13,683				13,721
Convertible preferred stock conversion (in shares)	(1,504)	37,602
Warrants exercised for cash		$ 6	1,511				$ 1,517
Warrants exercised for cash (in shares)		6,420
Cashless warrants and stock options exercise		$ 3	(3)
Cashless warrants and stock options exercise (in shares)		3,053					650
Issuance of common stock for conversion of debt and accrued interest		$ 30	12,938				$ 12,968
Issuance of common stock for conversion of debt and accrued interest (in shares)		29,886
Stock-based compensation			3,002				3,002
Stock-based compensation (in shares)		350
Warrants modification			2,698				2,698
Net loss					(55,555)		(55,555)
Deemed dividend related to warrants modification			(1,141)				(1,141)
Cumulative translation adjustment						(1,565)	(1,565)
Balance at the end at Sep. 30, 2024		$ 1,286	1,333,981	(79)	(1,415,276)	(29)	(80,117)
Balance at the end (in shares) at Sep. 30, 2024		1,286,258
Balance at the beginning (in shares) at Jun. 30, 2024	1,265
Balance at the beginning at Jun. 30, 2024	$ 18,753
Increase (Decrease) in Temporary Equity Deficit
Issuance of stock for cash	$ 267
Issuance of stock for cash (in shares)	33
Issuance of Series C preferred stock for conversion of debt and accrued interest	$ 1,844
Issuance of Series C preferred stock for conversion of debt and accrued interest (in shares)	368
Convertible preferred stock conversion	$ (4,987)	$ 17	4,970				4,987
Convertible preferred stock conversion (in shares)	(668)	16,711
Balance at the end (in shares) at Sep. 30, 2024	998
Balance at the end at Sep. 30, 2024	$ 15,877
Balance at the beginning at Jun. 30, 2024		$ 1,229	1,316,031	(79)	(1,395,902)	2,224	(76,497)
Balance at the beginning (in shares) at Jun. 30, 2024		1,229,703
Increase (Decrease) in Stockholders' Deficit
Issuance of common stock for cash, net		$ 26	7,088				7,114
Issuance of common stock for cash, net (in shares)		25,363
Issuance of stock for cash	$ 267
Issuance of stock for cash (in shares)	33
Convertible preferred stock conversion	$ (4,987)	$ 17	4,970				4,987
Convertible preferred stock conversion (in shares)	(668)	16,711
Warrants exercised for cash			26				26
Warrants exercised for cash (in shares)		106
Cashless warrants and stock options exercise (in shares)		157
Issuance of common stock for conversion of debt and accrued interest		$ 14	4,854				4,868
Issuance of common stock for conversion of debt and accrued interest (in shares)		14,043
Stock-based compensation			685				685
Stock-based compensation (in shares)		175
Warrants modification			459				459
Net loss					(19,374)		(19,374)
Deemed dividend related to warrants modification			(132)				(132)
Cumulative translation adjustment						(2,253)	(2,253)
Balance at the end at Sep. 30, 2024		$ 1,286	$ 1,333,981	$ (79)	$ (1,415,276)	$ (29)	$ (80,117)
Balance at the end (in shares) at Sep. 30, 2024		1,286,258

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net loss	$ (55,555)	$ (48,622)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	1,307	1,101
Amortization of debt discount	1,618	2,006
Change in fair value of derivatives	(939)	(3,875)
Change in fair value of share payable	(31)	(534)
Change in fair value of convertible notes	(4,621)	4,942
Loss from extinguishment of debt	9,905	3,648
Amortization of operating lease right-of-use asset	236	211
Stock-based compensation for services	3,002	2,833
Warrant modifications associated with convertible notes under fair value option	327	287
Subtotal of non-cash charges	10,804	10,619
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(216)	802
Other non-current assets	(9)	(13)
Accounts payable and accrued expenses	8,535	2,657
Related party accounts payable and accrued expenses	(501)	(2,239)
Lease liabilities	106	117
Net cash used in operating activities	(36,836)	(36,679)
Cash Flows from Investing Activities:
Purchase of equipment and construction in progress	(936)	(3,019)
Net cash used in investing activities	(936)	(3,019)
Cash Flows from Financing Activities:
Proceeds from issuance of common shares	10,011
Proceeds from exercise of warrants	1,517	1,598
Proceeds from investor advance	200	7
Proceeds from issuance of notes payable, net	12,000	10,000
Proceeds from issuance of convertible notes payable, net	9,915	12,699
Proceeds from contingent payment obligation	50	4,550
Repayment of notes payable	(251)	(210)
Repayment of convertible notes payable	(800)
Repayment of investor advances		(200)
Net cash provided by financing activities	40,843	38,343
Effect of exchange rate changes on cash and cash equivalents	(2,258)	487
Net increase (decrease) in cash and cash equivalents	813	(868)
Cash and cash equivalents, beginning of the period	2,126	6,965
Cash and cash equivalents, end of the period	2,939	6,097
Supplemental schedule of non-cash activities:
Cashless warrants and stock options exercise	3	21
Reclassification of warrant liabilities to stockholders' deficit		76,258
Issuance of common stock for conversion of debt and accrued interest	12,968	17,484
Issuance of Series C preferred stock for conversion of debt and accrued interest	2,679
Series C convertible preferred stock conversion	13,721	6,536
Capital expenditures included in accounts payable	238	71
Issuance of Series C convertible preferred stock in lieu of debt redemption		1,013
Deemed dividend related to warrant modification	1,141	1,433
Debt discount related to warrant modification	8
Reclassification between contingent payment obligation and convertible notes payable at fair value	300
Reclassification of investor advances to convertible notes payable		1,163
Reclassification of investor advances to stockholders' deficit		1,203
Right-of-use asset recognized in exchange for lease liability	364
Convertible notes payable
Supplemental disclosure of cash flow information
Interest payments on notes payable	(18)	(30)
Series C convertible preferred stock
Cash Flows from Financing Activities:
Proceeds from issuance of Series C convertible preferred stock	$ 8,201	$ 9,899

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2024
Organization and Description of Business
Organization and Description of Business	1. Organization and Description of Business Northwest Biotherapeutics, Inc. and its wholly owned subsidiaries Flaskworks, Northwest Biotherapeutics Limited, Northwest Biotherapeutics Capital Limited (formerly known as Aracaris Capital Limited), Northwest Biotherapeutics B.V., and NW Bio GmbH (collectively, the “Company”, “we”, “us” and “our”) were organized to discover and develop innovative immunotherapies for cancer. The Company has developed DCVax® platform technologies for both operable and inoperable solid tumor cancers. The Company has wholly owned subsidiaries in Boston, the U.K., the Netherlands and Germany. On August 28, 2020, the Company acquired Flaskworks, LLC (“Flaskworks”), a company that has developed a system designed to close and automate the manufacturing of cell therapy products such as DCVax®. The Company relies upon contract manufacturers for production of its DCVax products, research and development services, distribution and logistics, and related services, in compliance with the Company’s specifications and the applicable regulatory requirements. The Company has completed a Phase 3 clinical trial of its DCVax®-L product for glioblastoma brain cancer, has publicly reported the results in a peer reviewed publication in a medical journal as well as at a medical conference, and submitted a Marketing Authorization Application (MAA) for regulatory approval in the U.K. in December 2023. The MAA is in process of their review.

Financial Condition, Going Conc

Financial Condition, Going Concern and Management Plans	9 Months Ended
	Sep. 30, 2024
Financial Condition, Going Concern and Management Plans
Financial Condition, Going Concern and Management Plans	2. Financial Condition, Going Concern and Management Plans The Company has incurred annual net operating losses since its inception. The Company had a net loss of $55.6 million for the nine months ended September 30, 2024. The Company used approximately $36.8 million of cash in its operating activities during the nine months ended September 30, 2024. The Company does not expect to generate material revenue in the near future from the sale of products and is subject to all of the risks and uncertainties that are typically faced by biotechnology companies that devote substantially all of their efforts to research and development (“R&D”) and clinical trials and do not yet have commercial products. The Company expects to continue incurring annual losses for the foreseeable future. The Company’s existing liquidity is not sufficient to fund its operations, anticipated capital expenditures, working capital and other financing requirements until the Company reaches significant revenues. Until that time, the Company will need to obtain additional equity and/or debt financing, especially if the Company experiences downturns in its business that are more severe or longer than anticipated, or if the Company experiences significant increases in expense levels resulting from being a publicly-traded company or from expansion of operations. If the Company attempts to obtain additional equity or debt financing, the Company cannot assume that such financing will be available to the Company on favorable terms, or at all. Because of recurring operating losses and operating cash flow deficits, there is substantial doubt about the Company’s ability to continue as a going concern for at least one year from the date of this filing. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern, however, they do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets, or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company uses to prepare its annual audited consolidated financial statements. The condensed consolidated balance sheet as of September 30, 2024, condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2024 and 2023, condensed consolidated statement of stockholders’ deficit for the three and nine months ended September 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of results to be expected for the year ending December 31, 2024 or for any future interim period. The condensed consolidated balance sheet at September 30, 2024 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2023 and notes thereto included in the Company’s annual report on Form 10-K (the “2023 Annual Report”), which was filed with the SEC on March 5, 2024. Revision of Prior Period Consolidated Financial Statements As previously disclosed in the 2023 Annual Report, the Company revised its prior period financial statements to reflect an adjustment related to the fair value of convertible notes that was not material, individually or in the aggregate, to the Company’s previously issued consolidated financial statements. The appropriate revisions to the Company’s historical condensed consolidated financial statements and the notes thereto are reflected herein. See Note 14 to the “Consolidated Financial Statements” in the 2023 Annual Report for additional information. Use of Estimates In preparing condensed consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and judgments, including valuing equity securities in share-based payment arrangements, estimating the fair value of financial instruments recorded as derivative liabilities, useful lives of depreciable assets, and whether impairment charges may apply. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the reported amounts of revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates. Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report. Recently Issued Accounting Standards Not Yet Adopted Compensation - Stock Compensation In March 2024, the FASB issued ASU No. 2024-01, Compensation - Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards, to clarify whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation - Stock Compensation. The guidance applies to all business entities that issue profits interest awards as compensation to employees or nonemployees in exchange for goods or services. These amendments are effective for the Company for annual and interim periods in 2025, applied prospectively, with early adoption and retrospective application permitted. As the Company does not issue profit interest awards, the impact of the adoption of the amendments in this update is not expected to be material to the Company’s consolidated financial statements. Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be effective for the annual periods beginning the year ended December 31, 2025. Early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Recently Issued Accounting Standards, Adopted Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions In June 2022, the FASB issued ASU 2022-03, ASC Subtopic 820 “Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. The FASB is issuing this Update (1) to clarify the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) to amend a related illustrative example, and (3) to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2022-03 effective January 1, 2024. The adoption of this guidance did not have a material impact on its condensed consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Measurements
Fair Value Measurements	4. Fair Value Measurements In accordance with ASC 820 (Fair Value Measurements and Disclosures), the Company uses various inputs to measure the fair value of liabilities related to certain embedded conversion features associated with convertible debt, share liability (receivable), and the contingent payable to Cognate BioServices on a recurring basis to determine the fair value of these liabilities. The Company also elects the fair value option (“FVO”) for certain eligible financial instruments, such as convertible notes, in order to simplify the accounting treatment. ASC 820 establishes a hierarchy categorizing inputs into three levels used to measure and disclose fair value. The hierarchy gives the highest priority to quoted prices available in active markets and the lowest priority to unobservable inputs. An explanation of each level in the hierarchy is described below: Level 1 - Unadjusted quoted prices in active markets for identical instruments that are accessible by the Company on the measurement date. Level 2 - Quoted prices in markets that are not active or inputs which are either directly or indirectly observable. Level 3 - Unobservable inputs for the instrument requiring the development of assumptions by the Company. The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of September 30, 2024 and December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at September 30, 2024 ​ ​ ​ Quoted prices in active Significant other Significant ​ Fair value at ​ markets ​ observable inputs ​ unobservable inputs ​ ​ September 30, 2024 (Level 1) (Level 2) (Level 3) Contingent payable derivative liability ​ $ 9,193 ​ ​ — ​ ​ — ​ ​ 9,193 Convertible notes at fair value ​ 23,154 ​ — ​ — ​ 23,154 Share payable ​ ​ 170 ​ ​ — ​ ​ — ​ ​ 170 Total fair value ​ $ 32,517 ​ $ — ​ $ — ​ $ 32,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2023 ​ ​ ​ Quoted prices in active Significant other Significant ​ ​ Fair value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2023 (Level 1) (Level 2) (Level 3) Warrant liability ​ $ 944 ​ $ — ​ $ — ​ $ 944 Contingent payable derivative liability ​ ​ 9,188 ​ ​ — ​ ​ — ​ ​ 9,188 Convertible notes at fair value ​ ​ 12,771 ​ ​ — ​ ​ — ​ ​ 12,771 Share payable ​ 483 ​ — ​ — ​ 483 Total fair value ​ $ 23,386 ​ $ — ​ $ — ​ $ 23,386 ​ There were no transfers between Leve 1 3 The following table presents changes in Level 3 liabilities measured at fair value for the nine-month period ended September 30, 2024. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long- dated volatilities) inputs (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible ​ ​ ​ ​ ​ Warrant ​ Contingent Payable ​ Share ​ Notes ​ ​ ​ ​ Liability Derivative Liability Payable At Fair Value Total Balance - January 1, 2024 ​ $ 944 ​ $ 9,188 ​ $ 483 ​ $ 12,771 ​ $ 23,386 Additional share payable ​ ​ — ​ ​ — ​ ​ 543 ​ ​ — ​ ​ 543 Issuance of convertible notes at fair value ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,615 ​ ​ 8,615 Redemption of share payable ​ ​ — ​ ​ — ​ ​ (825) ​ ​ — ​ ​ (825) Additions from debt extinguishment ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,189 ​ ​ 7,189 Debt repayment ​ ​ — ​ ​ — ​ ​ — ​ ​ (800) ​ ​ (800) Change in fair value ​ ​ (944) ​ ​ 5 ​ ​ (31) ​ ​ (4,621) ​ ​ (5,591) Balance - September 30, 2024 ​ $ — (1) $ 9,193 ​ $ 170 ​ $ 23,154 ​ $ 32,517 (1) The warrant liability related to certain conditional rights to independently purchase shares from the Company in a future raise of capital (the “Piggy-back Rights”), which expired as of June 11, 2024. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s share payable and embedded conversion feature that are categorized within Level 3 of the fair value hierarchy as of September 30, 2024 and December 31, 2023 is as follows. The contingent conversion option of the contingent payable expired during the nine months ended September 30, 2024. The liability relates to the remaining redemption feature which, like the convertible notes at fair value, includes discount factors that are unobservable inputs and proprietary in nature. ​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ ​ ​ Share Payable ​ Strike price ​ $ 0.29 ​ Contractual term (years) ​ 0.03 ​ Volatility (annual) ​ 63 % Risk-free rate ​ 3.3 % Dividend yield (per share) ​ 0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ Share Contingent Payable ​ Payable ​ Derivative Liability Strike price ​ $ 0.64 ​ $ 0.70 * Contractual term (years) ​ ​ 0.1 ​ 1.0 ​ Volatility (annual) ​ ​ 71 % 71 % Risk-free rate ​ ​ 5.6 % 5.2 % Dividend yield (per share) ​ ​ 0 % 0 % * The strike price assumes the current stock price as of December 31, 2023.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Stock-based Compensation
Stock-based Compensation	5. Stock-based Compensation The following table summarizes total stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2024 2023 2024 2023 Research and development ​ $ 609 ​ $ 1,118 ​ $ 2,660 ​ $ 1,562 Research and development - related party ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Milestones achieved (1) ​ ​ — ​ ​ 9 ​ ​ — ​ ​ 578 Future milestones (2) ​ ​ — ​ ​ 24 ​ ​ — ​ ​ 115 General and administrative (3) ​ 80 ​ ​ 471 ​ 320 ​ 578 Total stock-based compensation expense ​ $ 689 ​ $ 1,622 ​ $ 2,980 ​ $ 2,833 ​ (1) The related party amounts were for milestone incentives that either were earned or are deemed probable to be achieved in the future and become issuable at that time (as detailed below in Restricted Stock Awards). (2) The general and administrative expense during the three and nine months ended September 30, 2024 and 2023 is related to the applicable vesting portion of stock options awards and restricted shares to employees and consultants. The total unrecognized stock compensation (primarily for consultants) cost was approximately $2.2 million as of September 30, 2024 and will be recognized over the next 1.5 years. Stock Options The following table summarizes stock option activity for options during the nine months ended September 30, 2024 (amount in thousands, except per share number): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ Number of ​ Average ​ Contractual Life ​ Total Intrinsic ​ Shares Exercise Price (in years) Value Outstanding as of January 1, 2024 317,076 ​ $ 0.35 ​ 6.0 ​ $ 114,097 Granted ​ 500 ​ ​ 0.53 ​ 3.7 ​ ​ — Cashless exercised ​ (650) ​ ​ 0.35 ​ — ​ ​ — Outstanding as of September 30, 2024 316,926 ​ $ 0.35 ​ 5.3 ​ $ 9,558 Options vested (1) 282,679 ​ $ 0.33 ​ 5.2 ​ $ 8,718 (1) 153 million of the 283 million stock options are subject to agreements (the “Blocker Letter Agreements”) under which they cannot be exercised except upon at least 61 days’ prior notice, and are also subject to a restriction that the options may only be exercised if the Company has sufficient authorized shares available for issuance. During the nine months ended September 30, 2024, the Company granted 500,000 stock options (the “Options”) with an exercise price at $0.53 per share to a staff employee. The Options vested immediately on the grant date. In addition, the Company will make an additional payment of $0.30 per option exercised by the employee for a maximum amount of $150,000. The Company has fully accrued this additional payment as of September 30, 2024 on its condensed consolidated balance sheets. The Black-Scholes option pricing model is used to estimate the fair value of stock options granted. The assumptions used in calculating the fair values of stock options that were granted during the nine months ended September 30, 2024 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ ​ September 30, ​ ​ 2024 ​ Exercise price ​ $ 0.53 ​ Expected term (years) ​ 2.1 ​ Expected stock price volatility ​ 73 % Risk-free rate ​ 4.5 % Dividend yield (per share) ​ 0 % ​ Restricted Stock Awards Advent SOW 6 There was no stock based compensation related to Statement of Work #6 (“SOW 6”) recognized during the three and nine months ended September 30, 2024. As previously reported, Advent previously achieved all of the 10 one-time milestones (i.e., for all six workstreams that were prerequisites for a MAA application for product approval, for obtaining all three licenses required for the Sawston facility, and for the completion of key portions of the MAA application) pursuant to SOW 6. As of September 30, 2024, 1.5 million shares related to the milestone for completion and submission of the MAA had not been issued and the fair value of the shares of $1.1 million remained accrued in accounts payable and accrued expenses to related parties and affiliates.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment
Property, Plant and Equipment	6. Property, Plant and Equipment Property, plant and equipment consist of the following at September 30, 2024 and December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, Estimated ​ ​ 2024 ​ 2023 ​ Useful Life Leasehold improvements ​ $ 18,721 ​ $ 17,785 Lesser of lease term or estimated useful life Office furniture and equipment ​ 555 ​ 487 3-5 years Computer and manufacturing equipment and software ​ 3,242 ​ 2,776 3-5 years Land in the United Kingdom ​ 91 ​ 86 NA ​ ​ 22,609 ​ 21,134 NA Less: accumulated depreciation ​ (5,287) ​ (3,856) Total property, plant and equipment, net ​ $ 17,322 ​ $ 17,278 ​ Depreciation and amortization expense was approximately $1.3 million and $1.1 million for the nine months ended September 30, 2024, and 2023, respectively.

Outstanding Debt

Outstanding Debt	9 Months Ended
	Sep. 30, 2024
Outstanding Debt
Outstanding Debt	7. Outstanding Debt The following two tables summarize outstanding debt as of September 30, 2024 and December 31, 2023, respectively (amount in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stated ​ ​ ​ ​ ​ ​ Fair ​ ​ ​ ​ ​ Interest ​ Conversion ​ ​ ​ ​ Remaining ​ Value ​ Carrying ​ ​ Maturity Date ​ Rate ​ Price ​ Face Value ​ Debt Discount ​ Adjustment ​ Value Short term convertible notes payable ​ ​ ​ ​ ​ ​ 6% unsecured Due ​ 6 % $ 3.09 ​ $ 135 ​ $ — ​ $ — ​ $ 135 8% unsecured Various ​ ​ 8 % $ 0.50 * ​ 1,760 ​ ​ (70) ​ — ​ 1,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,895 ​ ​ (70) ​ ​ — ​ ​ 1,825 Short term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured ​ Various ​ ​ 8 % $ 0.30 ​ ​ 1,000 ​ ​ — ​ ​ 128 ​ ​ 1,128 10% unsecured ​ Various ​ ​ 10 % $ 0.35 ​ ​ 500 ​ ​ — ​ ​ 72 ​ ​ 572 11% unsecured ​ Various ​ ​ 11 % $ 0.30 - $0.46 ​ ​ 15,560 ​ ​ — ​ ​ 2,120 ​ ​ 17,680 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17,060 ​ ​ — ​ ​ 2,320 ​ ​ 19,380 Short term notes payable ​ ​ ​ ​ ​ ​ 0% unsecured ​ On Demand ​ ​ 0 % ​ N/A ​ ​ 2,140 ​ ​ (56) ​ ​ — ​ ​ 2,084 6% secured 3/25/2025 ​ 6 % N/A ​ 339 ​ — ​ — ​ 339 8% unsecured Various ​ 8 % N/A ​ 4,717 ​ (125) ​ — ​ 4,592 12% unsecured On Demand ​ 12 % N/A ​ 562 ​ — ​ — ​ 562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7,758 ​ (181) — ​ 7,577 Long term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11% unsecured ​ Various ​ ​ 11 % $ 0.30 - $0.38 ​ ​ 3,115 ​ ​ — ​ ​ 659 ​ ​ 3,774 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long term notes payable ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 22,010 ​ (1,315) ​ — ​ 20,695 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance as of September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 51,838 ​ $ (1,566) ​ $ 2,979 ​ $ 53,251 *These convertible notes are convertible into Series C preferred shares at conversion prices of $12.50 per share. Each Series C preferred share is convertible into common shares with 30 days’ restriction period. The conversion price in common share equivalent is at conversion prices of $0.50 per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ Conversion ​ ​ ​ ​ Remaining ​ Fair Value ​ Carrying ​ ​ Maturity Date ​ Rate ​ Price ​ Face Value ​ Debt Discount ​ Adjustment ​ Value Short term convertible notes payable ​ ​ ​ ​ ​ ​ 6% unsecured Due ​ 6 % $ 3.09 ​ $ 135 ​ $ — ​ $ — ​ $ 135 8% unsecured ​ Various ​ ​ 8 % $ 0.50-$0.70 * ​ 3,486 ​ ​ (356) ​ ​ — ​ ​ 3,130 10% unsecured ​ 7/11/2024 ​ ​ 10 % $ 0.5 * ​ 500 ​ ​ — ​ ​ — ​ ​ 500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,121 ​ ​ (356) ​ ​ — ​ ​ 3,765 Short term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11% unsecured ​ Various ​ ​ 11 % $ 0.40-$0.49 * ​ 10,750 ​ ​ — ​ ​ 2,021 ​ ​ 12,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term notes payable ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 3,539 ​ (157) ​ — ​ 3,382 12% unsecured On Demand ​ 12 % N/A ​ 562 ​ — ​ — ​ 562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,101 ​ (157) — ​ ​ 3,944 Long term notes payable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 21,224 ​ (1,485) ​ — ​ 19,739 6% secured 3/25/2025 ​ ​ 6 % ​ N/A ​ ​ 573 ​ — — ​ ​ 573 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 21,797 ​ ​ (1,485) ​ ​ — ​ ​ 20,312 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance as of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 40,769 ​ $ (1,998) ​ $ 2,021 ​ $ 40,792 *These convertible notes are convertible into Series C preferred shares at conversion prices ranging from $10.00 - $17.50 per share. The conversion price in common share equivalent is at conversion prices ranging from $0.40 - $0.70 per share. ​ Notes Payable On April 26, 2024, the Company entered into a Commercial Loan Agreement (the “April Commercial Loan”) with a commercial lender for an aggregate principal amount of $11.0 million. The April Commercial Loan bears interest at 8% per annum with a 22-month term. There are no principal repayments during the first eight months of the term. The April Commercial Loan is amortized in 14 installments starting on December 26, 2024. The April Commercial Loan carries an original issue discount of $1.0 million. On September 27, 2024, the Company entered into a promissory note agreement (the “Note”) with an individual investor (the “Holder”) for principal amount of $2.0 million. The Note bears zero interest, and is payable upon demand. The Holder should provide 5 days’ advance written notice to the Company (the “Maturity Date”) for the redemption. In addition, the Company agreed to pay the Holder a service fee of $140,000 at the Maturity Date. The $140,000 service fee was recognized as an additional debt discount to the Note and was amortized to interest expense in 5 days. During the nine months ended September 30, 2024, the Company issued approximately 29.9 million shares of common stock with a fair value of $13.0 million to certain lenders in lieu of cash payments of $9.7 million of debt, including $0.7 million of accrued interest. In addition, the Company has extinguished certain debt pursuant to exchange agreements executed with various holders pursuant to which the Company issues common stock at a price based on a limited pricing period (the “Share payable”). During the nine months ended September 30, 2024, the Company settled $0.8 million of Share payables and accrued $0.5 million of Share payables. The Company recognized an approximately $3.0 million debt extinguishment loss during the nine months ended September 30, 2024 from the debt redemption. Convertible Notes On February 21, 2024, the Company entered into several one-year convertible notes (the “February Convertible Notes”) with multiple investors (the “Holders”) with an aggregate principal amount of $1.8 million for a purchase price of $1.6 million. The February Convertible Notes bear interest at 8% per annum and are convertible into Series C preferred shares at $12.50 per share at the Holders’ sole option. The Series C preferred shares are convertible into common stock. Each Series C preferred share is convertible into 25 shares of common stock. As consideration for entering into the package of February Convertible Notes for $1.8 million as described above, the Company amended the Holders’ existing convertible notes and warrants, whereby the maturity date of certain notes and warrants was extended, the conversion price of certain notes was reduced, and the exercise prices of certain warrants were reduced. These amendments in January and February of 2024 involving 16 tranches of warrants and 10 debt instruments were accounted for as both debt modification and debt extinguishment. The Company recognized approximately $1.4 million of debt extinguishment losses during the nine months ended September 30, 2024 from these debt amendments. During the nine months ended September 30, 2024, the Company modified the terms of existing $1.5 million convertible notes (the “Notes”) by (i) extending the maturity dates; (ii) reducing the conversion price, and (iii) granting the Notes holders the right to convert the Notes into a non-dilutive financial instrument. The modifications were accounted for as a debt extinguishment as the conversion feature of the amended notes were substantially different from the original terms. As a result, the Company recognized approximately $0.1 million of debt extinguishment loss during the nine months ended September 30, 2024 from this debt amendment. During the nine months ended September 30, 2024, the Company converted $2.7 million convertible notes including $0.2 million accrued interest into 0.5 million Series C preferred shares. Convertible Notes at Fair Value During the nine months ended September 30, 2024, the Company entered into several one-year convertible notes (the “Convertible Notes”) with multiple individual investors (the “Holders”) with an aggregate principal amount of $5.5 million. The Convertible Notes bear interest at 11% per annum and are convertible into Series C preferred shares between $10.00 and $11.50 per share at the Holder’s sole option. The Series C preferred shares are convertible into common stock 30 days after the debt conversion date. Each Series C preferred share is convertible into 25 shares of common stock. In addition, the Holders have an alternative option to convert the Convertible Notes into a non-dilutive financial instrument, which has the same terms at those in the non-dilutive funding agreements as described in Note 12. During the nine months ended September 30, 2024, the Company entered into several two-year convertible notes (the “Long-term Convertible Notes”) with multiple individual investors (the “Holders”) with an aggregate principal amount of $3.1 million. Of the total $3.1 million, $0.3 million was exchanged from a previously executed non-dilutive financial instrument. The Company received net cash proceeds of $2.8 million. The Long-term Convertible Notes bear interest at 11% per annum and are convertible into common shares between $0.30 and $0.38 per share at the Holder’s sole option. In addition, the Holders have an alternative option to convert the Long-term Convertible Notes into a non-dilutive financial instrument, which has the same terms at those in the non-dilutive funding agreements as described in Note 12. As consideration for entering the Long-term Convertible Notes, the Company also agreed to amend certain holder’s existing warrants to extend the term of the warrant maturity date for an additional 5 months. As a result of electing the FVO, issuance costs related to the convertible notes are expensed as incurred. Therefore, the incremental change in fair value resulting from the warrant amendment for $0.3 million was recognized as part of interest expenses on the condensed consolidated statement of operations and comprehensive loss. The Company elected the FVO to fair value the convertible notes described above under the guidance in ASC 825. The convertible notes at fair value are required to be remeasured using level 3 fair value measurements (see Note 4). During the nine months ended September 30, 2024, the Company modified certain convertible notes that were originally issued in 2023 by (i) extending the maturity dates; (ii) reducing the conversion price, and (iii) granting the notes holders the right to further extend the maturity date of the notes from a period of time not to exceed 24 months . The modifications were accounted for as a debt extinguishment as the conversion feature of the amended notes were substantially different from the original terms. As a result, the Company recognized approximately $5.5 million of debt extinguishment loss during the nine months ended September 30, 2024 from these debt amendments. For the three months ended September 30, 2024 and 2023, interest expense related to outstanding debt totaled approximately $2.1 million and $1.7 million including amortization of debt discounts totaling $0.6 million and $0.7 million, respectively. For the nine months ended September 30, 2024 and 2023, interest expense related to outstanding debt totaled approximately $5.3 million and $4.0 million including amortization of debt discounts totaling $1.6 million and $2.0 million, respectively

Net Loss per Share Applicable t

Net Loss per Share Applicable to Common Stockholders	9 Months Ended
	Sep. 30, 2024
Net Loss per Share Applicable to Common Stockholders
Net Loss per Share Applicable to Common Stockholders	8. Net Loss per Share Applicable to Common Stockholders Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per common share would be computed similar to basic loss per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Because of the net loss from operations for each period, inclusion of such securities in the computation of loss per share would be anti-dilutive and thus they are excluded. Potentially dilutive weighted average common shares include common stock potentially issuable under the Company’s convertible notes and preferred stock, warrants and vested and unvested stock options. The following securities were not included in the diluted net loss per share calculation because their effect was anti-dilutive as of the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, ​ 2024 2023 Series C convertible preferred stock ​ 24,955 ​ 44,328 Common stock options ​ 316,926 ​ 318,676 Common stock warrants ​ 94,270 ​ 105,444 Convertible notes and accrued interest ​ 69,726 32,049 Potentially dilutive securities ​ 505,877 ​ 500,497 ​

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions
Related Party Transactions	9. Related Party Transactions The Company has three operational programs with Advent: (a) an ongoing development and manufacturing program at the GMP facility in London, (b) an ongoing development and manufacturing program at the Sawston GMP facility, and (c) periodic specialized programs such as the program related to the MAA pre-requisites, drafting and submission. The Company has also executed a new SOW #8 covering the work required to establish the DCVax-Direct program in the U.K. and manufacture DCVax-Direct products for global use (see Note 13). Each of the operational programs is covered by a separate contract. The ongoing manufacturing in the London facility is covered by a Manufacturing Services Agreement (“MSA”) entered into on May 14, 2018. The development and manufacturing program at the Sawston facility is covered by an Ancillary Services Agreement entered into on November 18, 2019. Each periodic specialized program is covered by an SOW that sets forth the role and activities to be undertaken by Advent for that program, and provides for milestone payments upon completion of key elements of the program. The Ancillary Services Agreement establishes a structure under which the Company and Advent negotiate and agree upon the scope and terms for Statements of Work (“SOWs”) for facility development activities and compassionate use program activities, as well as for the periodic specialized programs. After an SOW is agreed and approved by the Company, Advent will proceed with, or continue, the applicable services and will invoice the Company pursuant to the SOW. Since both the facility development and the compassionate use program involve pioneering and uncertainties in most aspects, the invoicing under the Ancillary Services Agreement is on the basis of costs incurred plus fifteen percent. The SOWs may involve ongoing activities or specialized one-time projects and related one-time milestone payments The Ancillary Services Agreement was to end in July 2023, but the Company extended the term by 12 months to July 2024, and it was further extended for an additional one year until July 2025. The following table summarizes total research and development costs from Advent for the three and nine months ended September 30, 2024 and 2023, respectively (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Advent BioServices ​ ​ ​ ​ Manufacturing cost in London ​ ​ 2,430 ​ $ 1,554 ​ ​ 6,008 ​ $ 4,857 Manufacturing cost at Sawston facility ​ 2,606 ​ 2,247 ​ 7,758 ​ 6,057 SOW 6 one-time milestones - Shares ​ ​ ​ ​ ​ ​ ​ ​ Expensed and paid (milestone complete) (1) ​ — ​ 9 ​ — ​ 578 Expensed but unpaid, not yet due (milestone not yet complete) (2) ​ — ​ 24 ​ — ​ 115 SOW 6 one-time milestones - Cash ​ ​ ​ ​ ​ ​ ​ ​ Expensed and paid (milestone complete) (3) ​ — ​ — ​ — ​ 551 Expensed and due, but unpaid (milestone complete) (4) ​ ​ — ​ ​ 18 ​ ​ — ​ ​ 111 Expensed but unpaid, not yet due (milestone not yet complete) (2) ​ ​ — ​ ​ 13 ​ ​ — ​ ​ 130 Total ​ $ 5,036 ​ $ 3,865 ​ $ 13,766 ​ $ 12,399 (1) The payment for the nine months ended September 30, 2023 covers the one-time milestone for obtaining a commercial manufacturing license from the MHRA, and covers 2 other one-time milestones for 2 other required licenses for the Sawston facility (licenses from the Human Tissue Authority and from the MHRA for manufacturing for clinical trials and compassionate use cases). (2) The expense for the nine months ended September 30, 2023 covers the one-time milestone for drafting key portions of the application for product approval, and also covers 6 one-time milestones: 5 workstreams (Comparability, Stability, Potency, Product Profile and Fill/Finish) and 1 one-time milestone for drafting key portions of the application for product approval. (3) The expense for the nine months ended September 30, 2023 covers 2 one-time milestones: Mechanism of Action and milestone for obtaining a commercial manufacturing license from the MHRA. (4) The expense for the nine months ended September 30, 2023 covers the one-time milestone workstream for Mechanism of Action and also covers a one-time milestone for a required license for the Sawston facility from the MHRA for manufacturing for clinical trials and compassionate use cases. Advent BioServices Sublease Agreement On December 31, 2021, the Company entered into a Sub-lease Agreement (the “Agreement”) with Advent. The Agreement permits use by Advent of a portion of the space in the Sawston facility, which is leased by the Company under a separate head lease with a different counterparty (Huawei) that commenced on December 14, 2018. The Company subleased approximately 14,459 square feet of the 88,000 square foot building interior space, plus corresponding support space and parking. The lease payments amount under the Agreement are two times the amount payable by the Company under the head lease (which is currently £5.75 or approximately $7.70 per square foot based on exchange rate as of September 30, 2024), but subject to a cap of $10 per square foot. Accordingly, the monthly lease payments under the Sublease are based on $145,000 annually for 2024. The total lease payments paid by the Company to Huawei for the 88,000 square foot facility, exterior parking During the three months ended September 30, 2024 and 2023, the Company recognized sub-lease income of $36,000 and $36,000, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized sub-lease income of $109,000 and $108,000, respectively. Related Party Accounts Payable As of September 30, 2024 and December 31, 2023, there were outstanding unpaid accounts payable and accrued expenses owed to Advent as summarized in the following table (in thousands). These unpaid amounts are part of the Related Party expenses reported in the above section. ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2024 ​ 2023 Advent BioServices - amount invoiced but unpaid ​ $ 1,942 ​ $ 1,668 Advent BioServices - amount accrued but unpaid (1) ​ ​ 1,101 ​ ​ 1,601 Total payable and accrued, but unpaid to Advent BioServices ​ $ 3,043 ​ $ 3,269 (1) This includes $1.1 million which is not payable in cash but represents the value of 1.5 million shares that will become issuable to Advent, following final Board approval, for achievement of the one-time milestone for submission of the MAA application to MHRA on December 20, 2023. Such shares were not issued as of September 30, 2024, and the total value, previously recognized as stock compensation expense, was reclassified from Additional Paid-in-Capital to Accounts payable and accrued expenses to related parties and affiliates .

Preferred Stock

Preferred Stock	9 Months Ended
	Sep. 30, 2024
Preferred Stock.
Preferred Stock	10. Preferred Stock Series C Convertible Preferred Stock During the nine months ended September 30, 2024, the Company entered into various Subscription Agreements (the “Series C Subscription Agreements”) with certain investors (the “Series C Investors”). Pursuant to the Series C Subscription Agreements, the Company issued the Series C Investors an aggregate of 0.8 million shares of the Company’s Series C convertible preferred stock, par value $0.001 per share (the “Series C Shares”), at a weighted average purchase price of $10.82 per share for proceeds of approximately $8.2 million. During the nine months ended September 30, 2024, the Company converted $2.7 million convertible notes including $0.2 million accrued interest into 0.5 million Series C preferred shares. During the nine months ended September 30, 2024, approximately 1.5 million Series C Shares with a book value of $13.7 million were converted into 37.6 million common shares at a ratio of 1: 25 The Company determined that the Series C Shares contain contingent redemption provisions allowing redemption by the holder upon certain defined events (“deemed liquidation events”). As the event that may trigger the redemption of the Series C Shares is not solely within the Company’s control, the Series C Shares are classified as mezzanine equity (temporary equity) in the Company’s condensed consolidated balance sheets.

Stockholders' Deficit

Stockholders' Deficit	9 Months Ended
	Sep. 30, 2024
Stockholders' Deficit
Stockholders' Deficit	11. Stockholders’ Deficit Common Stock On June 4, 2024, the Company entered into a Stock Purchase Agreement with SIO Capital Management LLC (SIO), for SIO’s purchase of 8,125,000 shares of the Company’s common stock at $0.40 per share based on certain terms initially negotiated on May 31, 2024 (the “June Offering”). The transaction was closed on June 5, 2024. The June Offering generated gross proceeds of approximately $3.3 million and net proceeds to the Company of approximately $2.9 million. In connection therewith, the placement agent was granted a warrant to purchase up to an aggregate of 0.2 million shares of Common Stock (the “Placement Agent Warrant”) at an exercise price of $0.40 per share, which Placement Agent Warrant is exercisable at any time on or after August 4, 2024 and will expire on June 4, 2026. During the nine months ended September 30, 2024, the Company received $1.5 million from the exercise of outstanding warrants with a weighted average exercise price of $0.24 per share. The Company issued approximately 6.4 million shares of common stock upon these warrant exercises. During the nine months ended September 30, 2024, certain options and warrants holders elected to exercise some of their options and warrants pursuant to cashless exercise formulas. The Company issued approximately 3.1 million shares of common stock upon exercise of 4.8 million warrants at exercise prices between $0.20 and $0.34 per share, and 0.7 million options at exercise prices of $0.35 per share. Stock Purchase Warrants The following is a summary of warrant activity for the nine months ended September 30, 2024 (dollars in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Weighted Average Remaining ​ ​ Warrants ​ Exercise Price ​ Contractual Term Outstanding as of January 1, 2024 105,241 ​ $ 0.31 1.83 Warrants granted (1) 244 ​ 0.40 ​ Warrants exercised for cash (6,421) ​ 0.24 ​ Cashless warrants exercise ​ (4,794) ​ ​ 0.27 ​ ​ Outstanding as of September 30, 2024 (2) 94,270 ​ $ 0.28 2.08 ​ (1) Warrants granted to the placement agent. (2) At September 30, 2024, of the approximately 94 million total outstanding warrants listed above, approximately 90 million warrants were under Blocker Letter Agreements or suspension agreements. ​ Warrant Modifications During the nine months ended September 30, 2024, the Company amended certain warrants whereby the maturity dates were extended for an additional approximately 3 months. The value of these modifications was calculated using the Black-Scholes-Merton option pricing model based on the following weighted average assumptions. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Post-modification Pre-modification Exercise price ​ $ 0.29 ​ $ 0.30 ​ Expected term (in years) ​ 2.4 ​ 2.1 ​ Volatility ​ 75 % 75 % Risk-free interest rate ​ 4.7 % 4.9 % Dividend yield ​ 0 % 0 % ​ The incremental fair value attributable to the modified awards compared to the original awards immediately prior to the modification was calculated at $2.7 million, of which $1.6 million was associated with debt amendments and was recognized as an additional debt discount under debt modification, debt extinguishment loss and interest expense under debt extinguishment (see Note 7), and the remaining $1.1 million was treated as a deemed dividend and is reflected as “Deemed dividend related to warrant modifications” in the accompanying condensed consolidated statement of operations and comprehensive loss.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	12. Commitments and Contingencies Operating Lease- Lessee Arrangements The Company has operating leases for corporate offices in the U.S. and U.K., and for manufacturing facilities in the U.K. Leases with an initial term of 12 months or less are not recorded in the balance sheet. The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. The Company also elected the package of practical expedients permitted within the new standard, which among other things, allows the Company to carry forward historical lease classification. The lease renewal options have not been included in the calculation of the lease liabilities and right-of-use (“ROU”) assets as the Company has not yet determined whether to exercise the options. Variable lease payment amounts that cannot be determined at the commencement of the lease such as increases in lease payments based on changes in index rates or usage, are not included in the ROU assets or liabilities. These are expensed as incurred and recorded as variable lease expense. On August 22, 2024, the Company extended its office lease in the U.S for additional 2 years under an amended agreement. The Company recognized additional $0.4 million ROU assets and lease liabilities At September 30, 2024, the Company had operating lease liabilities of approximately $5.1 million for both the 20-year lease of the building for the manufacturing facility in Sawston, U.K., and the current office lease in the U.S. and ROU assets of approximately $4.5 million for the Sawston lease and U.S. office lease are included in the condensed consolidated balance sheet. Operating Lease - Lessor Arrangements On December 31, 2021, the Company entered into a Sub - lease Agreement (the “Agreement”) with Advent. The Agreement permits use by Advent of a portion of the space in the Sawston facility, which is leased by the Company under a separate head lease with a different counterparty (Huawei) that commenced on December 14, 2018. The Company subleased approximately 14,459 square feet of the 88,000 square foot building interior space, plus corresponding support space and parking. The lease payments amount under the Agreement are two times the amount payable by the Company under the head lease (which is currently £5.75 or approximately $7.70 per square foot based on exchange rate as of September 30, 2024), but subject to a cap of $10 per square foot. Accordingly, the monthly lease payments under the Sublease are based on $145,000 annually for 2024. The total lease payments paid by the Company to Huawei for the 88,000 square foot facility, exterior parking The following summarizes quantitative information about the Company’s operating leases (amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2024 ​ U.K U.S Total Lease cost ​ ​ ​ Operating lease cost ​ $ 470 ​ $ 191 ​ $ 661 Short-term lease cost ​ 39 ​ — ​ 39 Variable lease cost ​ — ​ 24 ​ 24 Sub-lease income ​ (109) ​ — ​ (109) Total ​ $ 400 ​ $ 215 ​ $ 615 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ Right of use assets exchanged for new operating lease liabilities ​ $ — ​ $ 364 ​ $ 364 Operating cash flows from operating leases ​ $ (499) ​ $ (205) ​ $ (704) Weighted-average remaining lease term – operating leases ​ 7.2 ​ 1.5 ​ ​ Weighted-average discount rate – operating leases ​ 12 % 12 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2023 ​ U.K U.S Total Lease cost ​ ​ ​ Operating lease cost ​ $ 443 ​ $ 190 ​ $ 633 Short-term lease cost ​ 62 ​ — ​ 62 Variable lease cost ​ — ​ 10 ​ 10 Sub-lease income ​ ​ (108) ​ ​ — ​ ​ (108) Total ​ $ 397 ​ $ 200 ​ $ 597 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ (467) ​ $ (224) ​ $ (691) Weighted-average remaining lease term – operating leases ​ 8.1 ​ 0.7 ​ ​ Weighted-average discount rate – operating leases ​ 12 % 12 % ​ ​ The Company recorded lease costs as a component of general and administrative expense during the nine months ended September 30, 2024 and 2023, respectively. Maturities of our operating leases, excluding short-term leases and sublease agreement, are as follows: ​ ​ ​ ​ ​ Three months ended December 31, 2024 ​ $ 174 Year ended December 31, 2025 ​ 929 Year ended December 31, 2026 ​ ​ 886 Year ended December 31, 2027 ​ ​ 696 Year ended December 31, 2028 ​ ​ 696 Thereafter ​ ​ 6,940 Total ​ ​ 10,321 Less present value discount ​ ​ (5,237) Operating lease liabilities included in the Condensed Consolidated Balance Sheet at September 30, 2024 ​ $ 5,084 ​ Maturities of our operating leases under the sublease agreement, are as follows: ​ ​ ​ ​ ​ Three months ended December 31, 2024 $ 36 Year ended December 31, 2025 ​ 145 Year ended December 31, 2026 ​ 145 Year ended December 31, 2027 ​ 145 Year ended December 31, 2028 ​ 145 Thereafter ​ 1,450 Total ​ $ 2,066 ​ Advent BioServices Services Agreement On May 14, 2018, the Company entered into a DCVax®-L Manufacturing and Services Agreement (“MSA”) with Advent BioServices, a related party which was formerly part of Cognate BioServices and was spun off separately as part of an institutional financing of Cognate. The MSA provides for manufacturing of DCVax-L products at an existing facility in London. The MSA is structured in the same manner as the Company’s prior agreements with Cognate BioServices. The MSA provides for certain payments for achievement of milestones and, as was the case under the prior agreement with Cognate BioServices, the Company is required to pay certain fees for dedicated production capacity reserved exclusively for DCVax production and pay for manufacturing of DCVax-L products for a certain minimum number of patients, whether or not the Company fully utilizes the dedicated capacity and number of patients. The MSA remains in force until five years after the first commercial sales of DCVax-L products pursuant to a marketing authorization, accelerated approval or other commercial approval, unless cancelled. Either party may terminate the MSA on twelve months’ notice, to allow for transition arrangements by both parties. During the notice period services would still be provided. Minimum required payments for this notice period are anticipated to total approximately £4.6 million ($6.2 million). German Tax Matter The German tax authorities have audited our wholly owned subsidiary, NW Bio GmbH, for 2013-2015. The NW Bio GmbH submitted substantial documentation to refute certain aspects of the assessments and the German tax authorities agreed in principle with the Company’s proposed revised approach and settlement offer. A final settlement bill was received from the German Tax Authority confirming that only a portion of the original bill was owed, €277,000 (approximately $329,000), for corporate taxes, interest, and reduced penalty for the period under audit, which the Company paid on September 2, 2021. The Company also received and paid the final settlement bill from the local authority for trade taxes for the audit period in the amount of €231,000 (approximately $272,000). On November 4, 2021, the Company received a letter from the local tax authorities asking for additional late fees of €513,000 (approximately $554,000) on reimbursable withholding taxes that had been waived during the settlement process. On December 8, 2021, the Company appealed the assessment of additional late fees. Additionally, the Company requested that NW Bio GmbH be deregistered from the trade register, as it no longer had current operations. The deregistration was granted effective December 31, 2021. Between January 2022 and July 2022, the Company received tax bills for the corporate and trade taxes for the 2016-2020 tax years that totaled approximately €222,000 (approximately $238,000). On July 27, 2022, the Company was informed that the German Tax Authorities were prepared to waive €135,000 (approximately $145,000) of the penalties. The Company offered to pay this reduced penalty if an extended payment plan was approved. A response was received dated November 14, 2022 indicating that the tax authority would not be able to grant a further deferral of payment of these penalties. In a letter dated December 27, 2022, the Leipzig tax authority sent letters to the former and current managing directors of NW Bio GmbH giving 30 days to respond to a tax liability questionnaire. Based on the responses to the liability questionnaires the tax authorities have currently not directed any further measures against former and current managing directors of NW Bio GmbH with respect to tax liability proceedings. On October 12, 2023 and January 16, 2024, the Company made €189,000 (approximately $201,000) and €189,000 (approximately $207,000) payments, respectively, regarding to the late payment penalty. As of September 30, 2024, the Company accrued for trade tax liability of €155,000 (approximately $173,000) and corporation tax of €99,000 (approximately $110,000). Based on the Company’s current operating state in Germany and the negotiations, the Company believes, based on its evaluation under ASC 740, that the resolution of these tax matters will not likely result in a net material charge to the Company. Other Contingent Payment Obligation During the nine months ended September 30, 2024, the Company entered into a non-dilutive funding agreement with an individual investor, pursuant to which the Company received funding of $50,000 related to a gain contingency. In addition, the Company exchanged $0.3 million from a previously executed non - dilutive financial instrument to a new convertible note (see Note 7). These agreements are accounted for under ASC 470 and are recognized as contingent payment obligations on the Company’s condensed consolidated balance sheet. The Company’s payment obligations only apply when such are received by the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events
Subsequent Events	13. Subsequent Events Between October 1, 2024 and November 8, 2024, the Company received $8.4 million in funding from the sale of common shares, proceeds from warrant exercise, and proceeds of debt arrangements. Between October 1, 2024 and November 8, 2024, the Company issued approximately 3.8 million shares of common stock for proceeds of $1.0 million. On October 18, 2024, the Company entered into a Commercial Loan Agreement (the “October Commercial Loan”) with a commercial lender for an aggregate principal amount of $2.2 million. The October Commercial Loan bears interest at 8% per annum with a 22-month term. There are no principal repayments during the first eight months of the term. The October Commercial Loan is amortized in 14 installments starting on June 18, 2025. The October Commercial Loan carries an original issue discount of $0.2 million. Between October 1, 2024 and November 8, 2024, the Company entered into several 2-year convertible notes (the “Convertible Notes”) with multiple individual investors (the “Holders”) with an aggregate principal amount of $5.5 million. The Convertible Notes bear interest at 11% per annum and are convertible into common shares between $0.285 and $0.30 per share at the Holder’s sole option. In addition, the Holders have an alternative option to convert the Convertible Notes into a non-dilutive financial instrument, which has the same terms at those in the non-dilutive funding agreements as described in Note 12. Between October 1, 2024 and November 8, 2024, the Company issued approximately 6.2 million shares of common stock to certain lenders in lieu of cash payments of $1.6 million of debt. The Company also issued 0.6 million shares of common stock to extinguish $0.2 million outstanding share liability. On November 8, 2024, the Company entered into a Statement of Work #8 (“SOW 8”) with Advent that will be incorporated into the Ancillary Services Agreement that was originally entered into dated November 8, 2019 and was extended on July 8, 2024. SOW 8 covers the work required to establish the DCVax-Direct program in the U.K and manufacture DCVax-Direct products for global use. Under SOW 8, the compensation consists solely of one-time milestones for each stage of the work and Advent will only receive the compensation when the applicable work is successfully completed. (When the Company previously contracted with a different company for restart of DCVax-Direct manufacturing, the contract required payment for work performed, regardless of whether the work was successful or not, as is typical for such contract services. The other company did not succeed in producing any DCVax-Direct products meeting the specifications.) SOW 8 includes 5 one-time milestones with corresponding milestone payments: (a) Basic Technology Transfer, New SOPs & Regulatory Documents Review of documents, specifications and data from prior DCVax-Direct program conducted by Cognate BioServices. Development of a new set of SOPs for DCVax-Direct production in Sawston and new regulatory documents for the UK. Initial implementation in Sawston; many engineering runs. Data generation for comparability analyses of both the process and the product. Milestone payment of £0.55 million (approximately $0.7 million) upon completion. (b) Process Development: TFF System vs. Other Systems Evaluation of the TFF system used in the prior DCVax-Direct manufacturing. Evaluation of the remaining TFF equipment from the prior program, parts needed to re-establish functional TFF systems, potential sourcing and timelines. Evaluation of remaining disposables from the prior program, requirements for new molds to enable new production of disposables (which are used for each manufacturing run with the TFF system), production arrangements for new disposables, development of new sealing method for disposables, potential sourcing and timelines for disposables. Identification and evaluation of commercially available systems to potentially substitute for TFF system. Engineering runs. Data generation for comparability analyses of TFF system vs. others. Milestone payment of £0.45 million (approximately $0.6 million) upon completion. (c) Process Development: Existing and New Product Composition Worldwide search for sourcing of BCG (1 of 2 essential reagents/ingredients required for DCVax-Direct besides the DCs), due to a severe worldwide shortage. Evaluation of the BCG mechanism of action (MoA) in DCVax-Direct, search for other agents that could have similar MoA or effects, with similar safety profile too. Sourcing of other agents, testing and selection of other agents for a new DCVax-Direct product composition. Many engineering runs. Data generation for comparability analyses of new reagents vs BCG and new composition of DCVax-Direct vs prior composition. Milestone payment of £0.60 million (approximately $0.8 million) upon completion. (d) Technology Transfer: Clean Room Implementation After the choice of system (TFF vs commercial) and the choice of product composition are decided, development of new SOPs and transfer of production into the clean rooms. This includes pre-clean room engineering runs, establishment of critical quality attributes, process performance qualifications. For technology transfer into the clean rooms, each operator must pass 3 consecutive and successful aseptic process simulations in the clean room and 3 consecutive and successful PQQ runs at scale in the clean room; microbial analysis (sterility, endotoxin, mycoplasma all need to pass); growth promotion tests; validation of all equipment used after being placed in the clean room; validation of all cell analysis assays used via flow cytometry and validation of the fill and finish protocols. Milestone payment of £0.35 million (approximately $0.5 million) upon completion. (e) New IMPD and New IND Draft a new IMPD (Investigational Medicinal Product Dossier) for the revised DCVax-Direct product composition and production process, containing all changes to the manufacturing system, reagents and product composition, processes, sources and/or Mechanism of Action vs those used in the prior DCVax-Direct program. Also draft a new IND (CMC section), for the first clinical trial with the new manufacturing process and new product composition. Obtain the first approval or clearance of the new IND by a regulator. Milestone payment of £0.35 million (approximately $0.5 million) upon completion. ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (19,374)	$ (23,522)	$ (55,555)	$ (48,622)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company uses to prepare its annual audited consolidated financial statements. The condensed consolidated balance sheet as of September 30, 2024, condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2024 and 2023, condensed consolidated statement of stockholders’ deficit for the three and nine months ended September 30, 2024 and 2023, and the condensed consolidated statements of cash flows for the nine months ended September 30, 2024 and 2023 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of results to be expected for the year ending December 31, 2024 or for any future interim period. The condensed consolidated balance sheet at September 30, 2024 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2023 and notes thereto included in the Company’s annual report on Form 10-K (the “2023 Annual Report”), which was filed with the SEC on March 5, 2024.
Revision of Prior Period Consolidated Financial Statements	Revision of Prior Period Consolidated Financial Statements As previously disclosed in the 2023 Annual Report, the Company revised its prior period financial statements to reflect an adjustment related to the fair value of convertible notes that was not material, individually or in the aggregate, to the Company’s previously issued consolidated financial statements. The appropriate revisions to the Company’s historical condensed consolidated financial statements and the notes thereto are reflected herein. See Note 14 to the “Consolidated Financial Statements” in the 2023 Annual Report for additional information.
Use of Estimates	Use of Estimates In preparing condensed consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and judgments, including valuing equity securities in share-based payment arrangements, estimating the fair value of financial instruments recorded as derivative liabilities, useful lives of depreciable assets, and whether impairment charges may apply. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the reported amounts of revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes in the Company’s significant accounting policies from those previously disclosed in the 2023 Annual Report.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted Compensation - Stock Compensation In March 2024, the FASB issued ASU No. 2024-01, Compensation - Stock Compensation (Topic 718) - Scope Application of Profits Interest and Similar Awards, to clarify whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation - Stock Compensation. The guidance applies to all business entities that issue profits interest awards as compensation to employees or nonemployees in exchange for goods or services. These amendments are effective for the Company for annual and interim periods in 2025, applied prospectively, with early adoption and retrospective application permitted. As the Company does not issue profit interest awards, the impact of the adoption of the amendments in this update is not expected to be material to the Company’s consolidated financial statements. Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be effective for the annual periods beginning the year ended December 31, 2025. Early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Recently Issued Accounting Standards, Adopted Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions In June 2022, the FASB issued ASU 2022-03, ASC Subtopic 820 “Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. The FASB is issuing this Update (1) to clarify the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) to amend a related illustrative example, and (3) to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2022-03 effective January 1, 2024. The adoption of this guidance did not have a material impact on its condensed consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Measurements
Schedule of fair value assets and liabilities measured on recurring basis	The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of September 30, 2024 and December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at September 30, 2024 ​ ​ ​ Quoted prices in active Significant other Significant ​ Fair value at ​ markets ​ observable inputs ​ unobservable inputs ​ ​ September 30, 2024 (Level 1) (Level 2) (Level 3) Contingent payable derivative liability ​ $ 9,193 ​ ​ — ​ ​ — ​ ​ 9,193 Convertible notes at fair value ​ 23,154 ​ — ​ — ​ 23,154 Share payable ​ ​ 170 ​ ​ — ​ ​ — ​ ​ 170 Total fair value ​ $ 32,517 ​ $ — ​ $ — ​ $ 32,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measured at December 31, 2023 ​ ​ ​ Quoted prices in active Significant other Significant ​ ​ Fair value at ​ markets ​ observable inputs ​ unobservable inputs ​ December 31, 2023 (Level 1) (Level 2) (Level 3) Warrant liability ​ $ 944 ​ $ — ​ $ — ​ $ 944 Contingent payable derivative liability ​ ​ 9,188 ​ ​ — ​ ​ — ​ ​ 9,188 Convertible notes at fair value ​ ​ 12,771 ​ ​ — ​ ​ — ​ ​ 12,771 Share payable ​ 483 ​ — ​ — ​ 483 Total fair value ​ $ 23,386 ​ $ — ​ $ — ​ $ 23,386 ​
Schedule of changes in Level 3 liabilities measured at fair value	The following table presents changes in Level 3 liabilities measured at fair value for the nine-month period ended September 30, 2024. Both observable and unobservable inputs were used to determine the fair value of positions that the Company has classified within the Level 3 category. Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long- dated volatilities) inputs (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Convertible ​ ​ ​ ​ ​ Warrant ​ Contingent Payable ​ Share ​ Notes ​ ​ ​ ​ Liability Derivative Liability Payable At Fair Value Total Balance - January 1, 2024 ​ $ 944 ​ $ 9,188 ​ $ 483 ​ $ 12,771 ​ $ 23,386 Additional share payable ​ ​ — ​ ​ — ​ ​ 543 ​ ​ — ​ ​ 543 Issuance of convertible notes at fair value ​ ​ — ​ ​ — ​ ​ — ​ ​ 8,615 ​ ​ 8,615 Redemption of share payable ​ ​ — ​ ​ — ​ ​ (825) ​ ​ — ​ ​ (825) Additions from debt extinguishment ​ ​ — ​ ​ — ​ ​ — ​ ​ 7,189 ​ ​ 7,189 Debt repayment ​ ​ — ​ ​ — ​ ​ — ​ ​ (800) ​ ​ (800) Change in fair value ​ ​ (944) ​ ​ 5 ​ ​ (31) ​ ​ (4,621) ​ ​ (5,591) Balance - September 30, 2024 ​ $ — (1) $ 9,193 ​ $ 170 ​ $ 23,154 ​ $ 32,517 (1) The warrant liability related to certain conditional rights to independently purchase shares from the Company in a future raise of capital (the “Piggy-back Rights”), which expired as of June 11, 2024.
Summary of Company's share payable and embedded conversion feature that are categorized within Level 3 of the fair value hierarchy	​ ​ ​ ​ ​ ​ ​ As of September 30, 2024 ​ ​ ​ Share Payable ​ Strike price ​ $ 0.29 ​ Contractual term (years) ​ 0.03 ​ Volatility (annual) ​ 63 % Risk-free rate ​ 3.3 % Dividend yield (per share) ​ 0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ Share Contingent Payable ​ Payable ​ Derivative Liability Strike price ​ $ 0.64 ​ $ 0.70 * Contractual term (years) ​ ​ 0.1 ​ 1.0 ​ Volatility (annual) ​ ​ 71 % 71 % Risk-free rate ​ ​ 5.6 % 5.2 % Dividend yield (per share) ​ ​ 0 % 0 % * The strike price assumes the current stock price as of December 31, 2023.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Stock-based Compensation
Summary of total stock based compensation expense	The following table summarizes total stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ 2024 2023 2024 2023 Research and development ​ $ 609 ​ $ 1,118 ​ $ 2,660 ​ $ 1,562 Research and development - related party ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Milestones achieved (1) ​ ​ — ​ ​ 9 ​ ​ — ​ ​ 578 Future milestones (2) ​ ​ — ​ ​ 24 ​ ​ — ​ ​ 115 General and administrative (3) ​ 80 ​ ​ 471 ​ 320 ​ 578 Total stock-based compensation expense ​ $ 689 ​ $ 1,622 ​ $ 2,980 ​ $ 2,833 ​ (1) The related party amounts were for milestone incentives that either were earned or are deemed probable to be achieved in the future and become issuable at that time (as detailed below in Restricted Stock Awards). (2) The general and administrative expense during the three and nine months ended September 30, 2024 and 2023 is related to the applicable vesting portion of stock options awards and restricted shares to employees and consultants.
Summary of stock option activity	The following table summarizes stock option activity for options during the nine months ended September 30, 2024 (amount in thousands, except per share number): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ Number of ​ Average ​ Contractual Life ​ Total Intrinsic ​ Shares Exercise Price (in years) Value Outstanding as of January 1, 2024 317,076 ​ $ 0.35 ​ 6.0 ​ $ 114,097 Granted ​ 500 ​ ​ 0.53 ​ 3.7 ​ ​ — Cashless exercised ​ (650) ​ ​ 0.35 ​ — ​ ​ — Outstanding as of September 30, 2024 316,926 ​ $ 0.35 ​ 5.3 ​ $ 9,558 Options vested (1) 282,679 ​ $ 0.33 ​ 5.2 ​ $ 8,718 (1) 153 million of the 283 million stock options are subject to agreements (the “Blocker Letter Agreements”) under which they cannot be exercised except upon at least 61 days’ prior notice, and are also subject to a restriction that the options may only be exercised if the Company has sufficient authorized shares available for issuance.
Schedule of weighted average assumptions for stock options modification	​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ ​ September 30, ​ ​ 2024 ​ Exercise price ​ $ 0.53 ​ Expected term (years) ​ 2.1 ​ Expected stock price volatility ​ 73 % Risk-free rate ​ 4.5 % Dividend yield (per share) ​ 0 %

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment
Schedule of property and equipment	Property, plant and equipment consist of the following at September 30, 2024 and December 31, 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, Estimated ​ ​ 2024 ​ 2023 ​ Useful Life Leasehold improvements ​ $ 18,721 ​ $ 17,785 Lesser of lease term or estimated useful life Office furniture and equipment ​ 555 ​ 487 3-5 years Computer and manufacturing equipment and software ​ 3,242 ​ 2,776 3-5 years Land in the United Kingdom ​ 91 ​ 86 NA ​ ​ 22,609 ​ 21,134 NA Less: accumulated depreciation ​ (5,287) ​ (3,856) Total property, plant and equipment, net ​ $ 17,322 ​ $ 17,278

Outstanding Debt (Tables)

Outstanding Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Outstanding Debt
Schedule of outstanding debt	The following two tables summarize outstanding debt as of September 30, 2024 and December 31, 2023, respectively (amount in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stated ​ ​ ​ ​ ​ ​ Fair ​ ​ ​ ​ ​ Interest ​ Conversion ​ ​ ​ ​ Remaining ​ Value ​ Carrying ​ ​ Maturity Date ​ Rate ​ Price ​ Face Value ​ Debt Discount ​ Adjustment ​ Value Short term convertible notes payable ​ ​ ​ ​ ​ ​ 6% unsecured Due ​ 6 % $ 3.09 ​ $ 135 ​ $ — ​ $ — ​ $ 135 8% unsecured Various ​ ​ 8 % $ 0.50 * ​ 1,760 ​ ​ (70) ​ — ​ 1,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,895 ​ ​ (70) ​ ​ — ​ ​ 1,825 Short term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured ​ Various ​ ​ 8 % $ 0.30 ​ ​ 1,000 ​ ​ — ​ ​ 128 ​ ​ 1,128 10% unsecured ​ Various ​ ​ 10 % $ 0.35 ​ ​ 500 ​ ​ — ​ ​ 72 ​ ​ 572 11% unsecured ​ Various ​ ​ 11 % $ 0.30 - $0.46 ​ ​ 15,560 ​ ​ — ​ ​ 2,120 ​ ​ 17,680 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17,060 ​ ​ — ​ ​ 2,320 ​ ​ 19,380 Short term notes payable ​ ​ ​ ​ ​ ​ 0% unsecured ​ On Demand ​ ​ 0 % ​ N/A ​ ​ 2,140 ​ ​ (56) ​ ​ — ​ ​ 2,084 6% secured 3/25/2025 ​ 6 % N/A ​ 339 ​ — ​ — ​ 339 8% unsecured Various ​ 8 % N/A ​ 4,717 ​ (125) ​ — ​ 4,592 12% unsecured On Demand ​ 12 % N/A ​ 562 ​ — ​ — ​ 562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7,758 ​ (181) — ​ 7,577 Long term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11% unsecured ​ Various ​ ​ 11 % $ 0.30 - $0.38 ​ ​ 3,115 ​ ​ — ​ ​ 659 ​ ​ 3,774 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long term notes payable ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 22,010 ​ (1,315) ​ — ​ 20,695 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance as of September 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 51,838 ​ $ (1,566) ​ $ 2,979 ​ $ 53,251 *These convertible notes are convertible into Series C preferred shares at conversion prices of $12.50 per share. Each Series C preferred share is convertible into common shares with 30 days’ restriction period. The conversion price in common share equivalent is at conversion prices of $0.50 per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ Conversion ​ ​ ​ ​ Remaining ​ Fair Value ​ Carrying ​ ​ Maturity Date ​ Rate ​ Price ​ Face Value ​ Debt Discount ​ Adjustment ​ Value Short term convertible notes payable ​ ​ ​ ​ ​ ​ 6% unsecured Due ​ 6 % $ 3.09 ​ $ 135 ​ $ — ​ $ — ​ $ 135 8% unsecured ​ Various ​ ​ 8 % $ 0.50-$0.70 * ​ 3,486 ​ ​ (356) ​ ​ — ​ ​ 3,130 10% unsecured ​ 7/11/2024 ​ ​ 10 % $ 0.5 * ​ 500 ​ ​ — ​ ​ — ​ ​ 500 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,121 ​ ​ (356) ​ ​ — ​ ​ 3,765 Short term convertible notes at fair value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 11% unsecured ​ Various ​ ​ 11 % $ 0.40-$0.49 * ​ 10,750 ​ ​ — ​ ​ 2,021 ​ ​ 12,771 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short term notes payable ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 3,539 ​ (157) ​ — ​ 3,382 12% unsecured On Demand ​ 12 % N/A ​ 562 ​ — ​ — ​ 562 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,101 ​ (157) — ​ ​ 3,944 Long term notes payable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8% unsecured Various ​ 8 % N/A ​ 21,224 ​ (1,485) ​ — ​ 19,739 6% secured 3/25/2025 ​ ​ 6 % ​ N/A ​ ​ 573 ​ — — ​ ​ 573 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 21,797 ​ ​ (1,485) ​ ​ — ​ ​ 20,312 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance as of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 40,769 ​ $ (1,998) ​ $ 2,021 ​ $ 40,792 *These convertible notes are convertible into Series C preferred shares at conversion prices ranging from $10.00 - $17.50 per share. The conversion price in common share equivalent is at conversion prices ranging from $0.40 - $0.70 per share.

Net Loss per Share Applicable_2

Net Loss per Share Applicable to Common Stockholders (Tables)	9 Months Ended
	Sep. 30, 2024
Net Loss per Share Applicable to Common Stockholders
Schedule of antidilutive securities were not included in the diluted net loss per share	The following securities were not included in the diluted net loss per share calculation because their effect was anti-dilutive as of the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, ​ 2024 2023 Series C convertible preferred stock ​ 24,955 ​ 44,328 Common stock options ​ 316,926 ​ 318,676 Common stock warrants ​ 94,270 ​ 105,444 Convertible notes and accrued interest ​ 69,726 32,049 Potentially dilutive securities ​ 505,877 ​ 500,497 ​

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions
Summary of total research and development costs from related party	The following table summarizes total research and development costs from Advent for the three and nine months ended September 30, 2024 and 2023, respectively (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the nine months ended ​ ​ September 30, ​ September 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Advent BioServices ​ ​ ​ ​ Manufacturing cost in London ​ ​ 2,430 ​ $ 1,554 ​ ​ 6,008 ​ $ 4,857 Manufacturing cost at Sawston facility ​ 2,606 ​ 2,247 ​ 7,758 ​ 6,057 SOW 6 one-time milestones - Shares ​ ​ ​ ​ ​ ​ ​ ​ Expensed and paid (milestone complete) (1) ​ — ​ 9 ​ — ​ 578 Expensed but unpaid, not yet due (milestone not yet complete) (2) ​ — ​ 24 ​ — ​ 115 SOW 6 one-time milestones - Cash ​ ​ ​ ​ ​ ​ ​ ​ Expensed and paid (milestone complete) (3) ​ — ​ — ​ — ​ 551 Expensed and due, but unpaid (milestone complete) (4) ​ ​ — ​ ​ 18 ​ ​ — ​ ​ 111 Expensed but unpaid, not yet due (milestone not yet complete) (2) ​ ​ — ​ ​ 13 ​ ​ — ​ ​ 130 Total ​ $ 5,036 ​ $ 3,865 ​ $ 13,766 ​ $ 12,399 (1) The payment for the nine months ended September 30, 2023 covers the one-time milestone for obtaining a commercial manufacturing license from the MHRA, and covers 2 other one-time milestones for 2 other required licenses for the Sawston facility (licenses from the Human Tissue Authority and from the MHRA for manufacturing for clinical trials and compassionate use cases). (2) The expense for the nine months ended September 30, 2023 covers the one-time milestone for drafting key portions of the application for product approval, and also covers 6 one-time milestones: 5 workstreams (Comparability, Stability, Potency, Product Profile and Fill/Finish) and 1 one-time milestone for drafting key portions of the application for product approval. (3) The expense for the nine months ended September 30, 2023 covers 2 one-time milestones: Mechanism of Action and milestone for obtaining a commercial manufacturing license from the MHRA. (4) The expense for the nine months ended September 30, 2023 covers the one-time milestone workstream for Mechanism of Action and also covers a one-time milestone for a required license for the Sawston facility from the MHRA for manufacturing for clinical trials and compassionate use cases.
Summary of outstanding unpaid accounts payable and accrued expenses held by related parties	As of September 30, 2024 and December 31, 2023, there were outstanding unpaid accounts payable and accrued expenses owed to Advent as summarized in the following table (in thousands). These unpaid amounts are part of the Related Party expenses reported in the above section. ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2024 ​ 2023 Advent BioServices - amount invoiced but unpaid ​ $ 1,942 ​ $ 1,668 Advent BioServices - amount accrued but unpaid (1) ​ ​ 1,101 ​ ​ 1,601 Total payable and accrued, but unpaid to Advent BioServices ​ $ 3,043 ​ $ 3,269 (1) This includes $1.1 million which is not payable in cash but represents the value of 1.5 million shares that will become issuable to Advent, following final Board approval, for achievement of the one-time milestone for submission of the MAA application to MHRA on December 20, 2023. Such shares were not issued as of September 30, 2024, and the total value, previously recognized as stock compensation expense, was reclassified from Additional Paid-in-Capital to Accounts payable and accrued expenses to related parties and affiliates .

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Deficit
Schedule of warrant activity	The following is a summary of warrant activity for the nine months ended September 30, 2024 (dollars in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Weighted Average Remaining ​ ​ Warrants ​ Exercise Price ​ Contractual Term Outstanding as of January 1, 2024 105,241 ​ $ 0.31 1.83 Warrants granted (1) 244 ​ 0.40 ​ Warrants exercised for cash (6,421) ​ 0.24 ​ Cashless warrants exercise ​ (4,794) ​ ​ 0.27 ​ ​ Outstanding as of September 30, 2024 (2) 94,270 ​ $ 0.28 2.08 ​ (1) Warrants granted to the placement agent. (2) At September 30, 2024, of the approximately 94 million total outstanding warrants listed above, approximately 90 million warrants were under Blocker Letter Agreements or suspension agreements. ​
Schedule of warrant modifications	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Post-modification Pre-modification Exercise price ​ $ 0.29 ​ $ 0.30 ​ Expected term (in years) ​ 2.4 ​ 2.1 ​ Volatility ​ 75 % 75 % Risk-free interest rate ​ 4.7 % 4.9 % Dividend yield ​ 0 % 0 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies
Schedule of quantitative information about the company's operating leases	The following summarizes quantitative information about the Company’s operating leases (amount in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2024 ​ U.K U.S Total Lease cost ​ ​ ​ Operating lease cost ​ $ 470 ​ $ 191 ​ $ 661 Short-term lease cost ​ 39 ​ — ​ 39 Variable lease cost ​ — ​ 24 ​ 24 Sub-lease income ​ (109) ​ — ​ (109) Total ​ $ 400 ​ $ 215 ​ $ 615 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ Right of use assets exchanged for new operating lease liabilities ​ $ — ​ $ 364 ​ $ 364 Operating cash flows from operating leases ​ $ (499) ​ $ (205) ​ $ (704) Weighted-average remaining lease term – operating leases ​ 7.2 ​ 1.5 ​ ​ Weighted-average discount rate – operating leases ​ 12 % 12 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the nine months ended ​ ​ September 30, 2023 ​ U.K U.S Total Lease cost ​ ​ ​ Operating lease cost ​ $ 443 ​ $ 190 ​ $ 633 Short-term lease cost ​ 62 ​ — ​ 62 Variable lease cost ​ — ​ 10 ​ 10 Sub-lease income ​ ​ (108) ​ ​ — ​ ​ (108) Total ​ $ 397 ​ $ 200 ​ $ 597 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other information ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ (467) ​ $ (224) ​ $ (691) Weighted-average remaining lease term – operating leases ​ 8.1 ​ 0.7 ​ ​ Weighted-average discount rate – operating leases ​ 12 % 12 % ​
Schedule of maturities of our operating leases, excluding short-term leases	Maturities of our operating leases, excluding short-term leases and sublease agreement, are as follows: ​ ​ ​ ​ ​ Three months ended December 31, 2024 ​ $ 174 Year ended December 31, 2025 ​ 929 Year ended December 31, 2026 ​ ​ 886 Year ended December 31, 2027 ​ ​ 696 Year ended December 31, 2028 ​ ​ 696 Thereafter ​ ​ 6,940 Total ​ ​ 10,321 Less present value discount ​ ​ (5,237) Operating lease liabilities included in the Condensed Consolidated Balance Sheet at September 30, 2024 ​ $ 5,084
Schedule of maturities of our operating leases under the sublease agreement	Maturities of our operating leases under the sublease agreement, are as follows: ​ ​ ​ ​ ​ Three months ended December 31, 2024 $ 36 Year ended December 31, 2025 ​ 145 Year ended December 31, 2026 ​ 145 Year ended December 31, 2027 ​ 145 Year ended December 31, 2028 ​ 145 Thereafter ​ 1,450 Total ​ $ 2,066

Financial Condition, Going Co_2

Financial Condition, Going Concern and Management Plans (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Financial Condition, Going Concern and Management Plans
Net loss	$ (55.6)
Payments for operating activities	$ 36.8

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurements
Warrant liability		$ 944
Share payable	$ 170	483
Assets transfer from Level 1 to 2	0
Assets transfer from Level 2 to 1	0
Liabilities transfer from Level 1 to 2	0
Liabilities transfer from Level 2 to 1	0
Assets transfer from in/ out from Level 1 to 3	0
Liabilities transfer from in/out level 1 to 3	0
Recurring
Fair Value Measurements
Warrant liability		944
Contingent payable derivative liability	9,193	9,188
Convertible notes at fair value	23,154	12,771
Share payable	170	483
Total fair value	32,517	23,386
Level 3 | Recurring
Fair Value Measurements
Warrant liability		944
Contingent payable derivative liability	9,193	9,188
Convertible notes at fair value	23,154	12,771
Share payable	170	483
Total fair value	$ 32,517	$ 23,386

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 liabilities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value Measurements
Balance	$ 23,386
Additional share payable	543
Issuance of convertible notes at fair value	8,615
Redemption of share payable	(825)
Additions from debt extinguishment	7,189
Debt repayment	(800)
Change in fair value	(5,591)
Balance	32,517
Warrant Liability
Fair Value Measurements
Balance	944
Change in fair value	(944)
Contingent Payable Derivative Liability
Fair Value Measurements
Balance	9,188
Change in fair value	5
Balance	9,193
Share Payable
Fair Value Measurements
Balance	483
Additional share payable	543
Redemption of share payable	(825)
Change in fair value	(31)
Balance	170
Convertible Notes
Fair Value Measurements
Balance	12,771
Issuance of convertible notes at fair value	8,615
Additions from debt extinguishment	7,189
Debt repayment	(800)
Change in fair value	(4,621)
Balance	$ 23,154

Fair Value Measurements - Weigh

Fair Value Measurements - Weighted average (in aggregate) significant unobservable inputs (Details) - Level 3	Sep. 30, 2024 $ / shares Y	Dec. 31, 2023 Y $ / shares
Share Payable | Strike price
Fair Value Measurements
Measurement input | $ / shares	0.29	0.64
Share Payable | Contractual term (years)
Fair Value Measurements
Measurement input | Y	0.03	0.1
Share Payable | Volatility (annual)
Fair Value Measurements
Measurement input	0.63	0.71
Share Payable | Risk-free rate
Fair Value Measurements
Measurement input	0.033	0.056
Share Payable | Dividend yield (per share)
Fair Value Measurements
Measurement input	0	0
Contingent Payable Derivative Liability | Strike price
Fair Value Measurements
Measurement input | $ / shares		0.70
Contingent Payable Derivative Liability | Contractual term (years)
Fair Value Measurements
Measurement input | Y		1
Contingent Payable Derivative Liability | Volatility (annual)
Fair Value Measurements
Measurement input		0.71
Contingent Payable Derivative Liability | Risk-free rate
Fair Value Measurements
Measurement input		0.052
Contingent Payable Derivative Liability | Dividend yield (per share)
Fair Value Measurements
Measurement input		0

Stock-based Compensation - Summ

Stock-based Compensation - Summary of stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stock-based Compensation
Total stock-based compensation expense	$ 689	$ 1,622	$ 2,980	$ 2,833
Research and development
Stock-based Compensation
Total stock-based compensation expense	609	1,118	2,660	1,562
Milestone achieved
Stock-based Compensation
Total stock-based compensation expense		9		578
Future milestone
Stock-based Compensation
Total stock-based compensation expense		24		115
General and administrative
Stock-based Compensation
Total stock-based compensation expense	$ 80	$ 471	$ 320	$ 578

Stock-based Compensation - Stoc

Stock-based Compensation - Stock option activity (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Stock-based Compensation
Number of Shares, Outstanding | shares	317,076,000
Number of Shares, Granted | shares	500,000
Number of Shares, Cashless exercised | shares	(650,000)
Number of Shares, Outstanding | shares	316,926,000	317,076,000
Number of Shares, Options vested | shares	282,679,000
Weighted Average Exercise Price, Outstanding | $ / shares	$ 0.35
Weighted Average Exercise Price, Granted | $ / shares	0.53
Weighted Average Exercise Price, Cashless exercised | $ / shares	0.35
Weighted Average Exercise Price, Outstanding | $ / shares	0.35	$ 0.35
Weighted Average Exercise Price, Options vested | $ / shares	$ 0.33
Weighted Average Remaining Contractual Life (in years), Outstanding	5 years 3 months 18 days	6 years
Weighted Average Remaining Contractual Life (in years), Granted	3 years 8 months 12 days
Weighted Average Remaining Contractual Life (in years), Options vested	5 years 2 months 12 days
Total Intrinsic Value, Outstanding | $	$ 114,097,000
Total Intrinsic Value, Outstanding | $	9,558,000	$ 114,097,000
Total Intrinsic Value, Options vested | $	$ 8,718,000
Vested and expected to vest, outstanding, block letter agreement | shares	153,000,000
Notice for exercising any option or warrant (in days)	61 days
Stock based compensation per share option exercised | $ / shares	$ 0.30
Share based compensation maximum amount | $	$ 150,000

Stock-based Compensation - St_2

Stock-based Compensation - Stock option granted (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares
Stock-based Compensation
Exercise price	$ 0.53
Expected term (years)	2 years 1 month 6 days
Expected stock price volatility	73%
Risk-free rate	4.50%
Dividend yield (per share)	0%

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Awards (Details) $ in Thousands, shares in Millions			3 Months Ended		9 Months Ended
	Dec. 20, 2023 USD ($) shares	Sep. 26, 2022 Milestone item	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)
Stock-based Compensation
Stock-based compensation			$ 689	$ 1,622	$ 2,980	$ 2,833
Amended Statement of Work 6
Stock-based Compensation
Number of milestones | Milestone		10
Restricted Stock Awards | Advent BioServices | Completion of MHRA application milestone
Stock-based Compensation
Number of shares not issued | shares	1.5
Additional Paid-in-Capital to Accounts Payable and accrued expenses	$ 1,100
Restricted Stock [Member]
Stock-based Compensation
Stock-based compensation			$ 0		$ 0
Restricted Stock [Member] | Amended Statement of Work 6
Stock-based Compensation
Number of required licenses for the Sawston facility | item		3
Restricted Stock [Member] | Advent BioServices | Completion of MHRA application milestone
Stock-based Compensation
Number of shares not issued | shares			1.5		1.5
Additional Paid-in-Capital to Accounts Payable and accrued expenses					$ 1,100

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Stock-based Compensation
Total unrecognized stock compensation cost	$ 2.2
Unrecognized compensation cost recognized period (in years)	1 year 6 months

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment
Total property, plant and equipment, net	$ 17,322	$ 17,278
Domestic
Property, Plant and Equipment
Property, plant and equipment, gross	22,609	21,134
Less: accumulated depreciation	(5,287)	(3,856)
Leasehold improvements | Domestic
Property, Plant and Equipment
Property, plant and equipment, gross	$ 18,721	17,785
Leasehold improvements useful life	Lesser of lease term or estimated useful life
Office furniture and equipment | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	3 years
Office furniture and equipment | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	5 years
Office furniture and equipment | Domestic
Property, Plant and Equipment
Property, plant and equipment, gross	$ 555	487
Computer and manufacturing equipment and software | Minimum
Property, Plant and Equipment
Property, plant and equipment, useful life	3 years
Computer and manufacturing equipment and software | Maximum
Property, Plant and Equipment
Property, plant and equipment, useful life	5 years
Computer and manufacturing equipment and software | Domestic
Property, Plant and Equipment
Property, plant and equipment, gross	$ 3,242	2,776
Land in the United Kingdom | U.K
Property, Plant and Equipment
Property, plant and equipment, gross	$ 91	$ 86

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment
Depreciation and amortization expense	$ 1.3	$ 1.1

Outstanding Debt (Details)

Outstanding Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Outstanding Debt
Face Value	$ 51,838	$ 40,769
Remaining Debt Discount	(1,566)	(1,998)
Fair Value Adjustment	2,979	2,021
Carrying Value	53,251	40,792
Short term convertible notes payable
Outstanding Debt
Face Value	1,895	4,121
Remaining Debt Discount	(70)	(356)
Carrying Value	$ 1,825	$ 3,765
Short term convertible notes payable | 6% unsecured
Outstanding Debt
Maturity Date	Due	Due
Stated Interest Rate	6%	6%
Conversion price	$ 3.09	$ 3.09
Face Value	$ 135	$ 135
Carrying Value	$ 135	$ 135
Short term convertible notes payable | 8% unsecured
Outstanding Debt
Maturity Date	Various	Various
Stated Interest Rate	8%	8%
Conversion price	$ 0.50
Face Value	$ 1,760	$ 3,486
Remaining Debt Discount	(70)	(356)
Carrying Value	1,690	$ 3,130
Short term convertible notes payable | 10% unsecured
Outstanding Debt
Maturity Date		7/11/2024
Stated Interest Rate		10%
Conversion price		$ 0.5
Face Value		$ 500
Carrying Value		$ 500
Short term convertible notes payable | Minimum | 8% unsecured
Outstanding Debt
Conversion price		$ 0.50
Short term convertible notes payable | Maximum | 8% unsecured
Outstanding Debt
Conversion price		$ 0.70
Short term convertible note at fair value
Outstanding Debt
Face Value	17,060
Fair Value Adjustment	2,320
Carrying Value	$ 19,380
Short term convertible note at fair value | 8% unsecured
Outstanding Debt
Stated Interest Rate	8%
Conversion price	$ 0.30
Face Value	$ 1,000
Fair Value Adjustment	128
Carrying Value	$ 1,128
Short term convertible note at fair value | 10% unsecured
Outstanding Debt
Maturity Date	Various
Stated Interest Rate	10%
Conversion price	$ 0.35
Face Value	$ 500
Fair Value Adjustment	72
Carrying Value	$ 572
Short term convertible note at fair value | 11% unsecured
Outstanding Debt
Maturity Date	Various	Various
Stated Interest Rate	11%	11%
Face Value	$ 15,560	$ 10,750
Fair Value Adjustment	2,120	2,021
Carrying Value	$ 17,680	$ 12,771
Short term convertible note at fair value | Minimum | 11% unsecured
Outstanding Debt
Conversion price	$ 0.30	$ 0.40
Short term convertible note at fair value | Maximum | 11% unsecured
Outstanding Debt
Conversion price	$ 0.46	$ 0.49
Short term notes payable
Outstanding Debt
Face Value	$ 7,758	$ 4,101
Remaining Debt Discount	(181)	(157)
Carrying Value	$ 7,577	$ 3,944
Short term notes payable | 0% unsecured
Outstanding Debt
Maturity Date	On Demand
Stated Interest Rate	0%
Face Value	$ 2,140
Remaining Debt Discount	(56)
Carrying Value	$ 2,084
Short term notes payable | 6% unsecured
Outstanding Debt
Maturity Date	3/25/2025
Stated Interest Rate	6%
Face Value	$ 339
Carrying Value	$ 339
Short term notes payable | 8% unsecured
Outstanding Debt
Maturity Date	Various	Various
Stated Interest Rate	8%	8%
Face Value	$ 4,717	$ 3,539
Remaining Debt Discount	(125)	(157)
Carrying Value	$ 4,592	$ 3,382
Short term notes payable | 12% unsecured
Outstanding Debt
Maturity Date	On Demand	On Demand
Stated Interest Rate	12%	12%
Face Value	$ 562	$ 562
Carrying Value	$ 562	562
Long term convertible notes at fair value | 11% unsecured
Outstanding Debt
Maturity Date	Various
Stated Interest Rate	11%
Face Value	$ 3,115
Fair Value Adjustment	659
Carrying Value	$ 3,774
Long term convertible notes at fair value | Minimum | 11% unsecured
Outstanding Debt
Conversion price	$ 0.30
Long term convertible notes at fair value | Maximum | 11% unsecured
Outstanding Debt
Conversion price	$ 0.38
Long term notes payable
Outstanding Debt
Face Value		21,797
Remaining Debt Discount		(1,485)
Carrying Value		$ 20,312
Long term notes payable | 8% unsecured
Outstanding Debt
Maturity Date	Various	Various
Stated Interest Rate	8%	8%
Face Value	$ 22,010	$ 21,224
Remaining Debt Discount	(1,315)	(1,485)
Carrying Value	$ 20,695	$ 19,739
Long term notes payable | 6% secured
Outstanding Debt
Maturity Date		3/25/2025
Stated Interest Rate		6%
Face Value		$ 573
Carrying Value		$ 573

Outstanding Debt - Additional I

Outstanding Debt - Additional Information (Details) $ / shares in Units, shares in Thousands				3 Months Ended		9 Months Ended
	Sep. 27, 2024 USD ($)	Apr. 26, 2024 USD ($) installment	Feb. 21, 2024 USD ($) instrument tranche item $ / shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) item $ / shares shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares
Notes Payable
Conversion of shares						$ 2,679,000
Conversion of share settled debt into common stock				$ 4,987,000	$ 2,974,000	13,721,000	$ 6,536,000
Extinguishment of debt upon conversion						800,000
Additional share liability recognized						500,000
Gain (loss) from debt extinguishment						(3,000,000)
Interest expense including amortization of debt discount				2,100,000	1,700,000	5,300,000	4,000,000
Amortization of debt discount				600,000	700,000	1,600,000	2,000,000
Accrued interest expense				200,000		200,000
Principal amount				51,838,000		51,838,000		$ 40,769,000
Loss from extinguishment of debt				$ (6,820,000)	$ (1,768,000)	$ (9,905,000)	$ (3,648,000)
Series C convertible preferred stock
Notes Payable
Number of shares issued to lenders in lieu of cash payments | shares				(668)	(186)	(1,504)	(443)
Conversion of share settled debt into common stock				$ (4,987,000)	$ (2,974,000)	$ (13,721,000)	$ (6,536,000)
Issuance of Series C preferred stock for conversion of debt and accrued interest (in shares) | shares				368		535
Convertible notes payable
Notes Payable
Conversion price | $ / shares				$ 0.50		$ 0.50
Convertible notes payable | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares				12.50		$ 12.50
Period of which preferred stock can convert into common shares						30 days
Minimum | Convertible notes payable
Notes Payable
Conversion price | $ / shares								$ 0.40
Minimum | Convertible notes payable | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares								10
Maximum | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares				$ 11.50		$ 11.50
Maximum | Convertible notes payable
Notes Payable
Conversion price | $ / shares								0.70
Maximum | Convertible notes payable | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares								$ 17.50
Notes
Notes Payable
Cash payments						$ 9,700,000
Number of shares issued to lenders in lieu of cash payments | shares						29,900
Conversion of share settled debt into common stock						$ 13,000,000
Accrued interest expense on debt						700,000
Commercial Loan
Notes Payable
Term of debt instrument		22 months
Principal amount		$ 11,000,000
Interest rate (in percent)		8%
Number of installments for amortization | installment		14
Original issue discount		$ 1,000,000
Promissory note
Notes Payable
Amortization of debt discount	$ 140,000
Principal amount	2,000,000
Service fees payable	$ 140,000
Amortization Of Debt Discount Period	5 days
Debt instrument, written notice period for redemption	5 days
February Convertible Notes
Notes Payable
Term of debt instrument			1 year
Principal amount			$ 1,800,000
Purchase price			$ 1,600,000
Interest rate (in percent)			8%
February Convertible Notes | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares			$ 12.50
Number of common stock shares issued upon conversion | item			25
Modified convertible note
Notes Payable
Principal amount				$ 1,500,000		$ 1,500,000
One year convertible notes
Notes Payable
Term of debt instrument						1 year
Principal amount				$ 5,500,000		$ 5,500,000
Period of which preferred stock can convert into common shares						30 days
Number of common stock shares issued upon conversion | item						25
One year convertible notes | Series C convertible preferred stock
Notes Payable
Interest rate (in percent)				11%		11%
One year convertible notes | Minimum | Series C convertible preferred stock
Notes Payable
Conversion price | $ / shares				$ 10		$ 10
Long term convertible notes
Notes Payable
Term of debt instrument						2 years
Principal amount				$ 3,100,000		$ 3,100,000
Interest rate (in percent)				11%		11%
Debt instrument, exchanged from previously executed non dilutive financial instrument				$ 300,000		$ 300,000
Cash proceeds						2,800,000
Interest Expense, Debt						$ 300,000
Long term convertible notes | Minimum
Notes Payable
Conversion price | $ / shares				$ 0.30		$ 0.30
Long term convertible notes | Maximum
Notes Payable
Conversion price | $ / shares				$ 0.38		$ 0.38
Convertible notes payable
Notes Payable
Loss from extinguishment of debt						$ (5,500,000)
Debt instrument, maximum extension period						24 months
Amended | February Convertible Notes
Notes Payable
Loss from extinguishment of debt						$ (1,400,000)
Number of tranches warrants | tranche			16
Number of debt instruments | instrument			10
Amended | Modified convertible note
Notes Payable
Loss from extinguishment of debt						$ (100,000)

Net Loss per Share Applicable_3

Net Loss per Share Applicable to Common Stockholders (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net Earnings (Loss) per Share Applicable to Common Stockholders
Potentially dilutive securities	505,877	500,497
Series C convertible preferred stock
Net Earnings (Loss) per Share Applicable to Common Stockholders
Potentially dilutive securities	24,955	44,328
Common stock options
Net Earnings (Loss) per Share Applicable to Common Stockholders
Potentially dilutive securities	316,926	318,676
Common stock warrants
Net Earnings (Loss) per Share Applicable to Common Stockholders
Potentially dilutive securities	94,270	105,444
Convertible notes and accrued interest
Net Earnings (Loss) per Share Applicable to Common Stockholders
Potentially dilutive securities	69,726	32,049

Related Party Transactions (Det

Related Party Transactions (Details)	9 Months Ended
	Sep. 30, 2024 Program
Related Party Transactions
Percentage of margin	15%
Additional term of agreement	12 months
Advent Bio services agreement
Related Party Transactions
Number of operational programs	3

Related Party Transactions - Re

Related Party Transactions - Research and development Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transactions
Total operating costs and expenses	$ 15,158	$ 14,231	$ 49,160	$ 41,853
Advent BioServices
Related Party Transactions
Total operating costs and expenses	$ 5,036	$ 3,865	$ 13,766	$ 12,399
Operating Cost and Expense, Related Party, Type [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Advent BioServices | Manufacturing cost in London
Related Party Transactions
Related party costs, Manufacturing costs	$ 2,430	$ 1,554	$ 6,008	$ 4,857
Advent BioServices | Manufacturing cost at Sawston facility
Related Party Transactions
Related party costs, Manufacturing costs	$ 2,606	2,247	$ 7,758	6,057
Advent BioServices | Expensed and paid (milestone complete)
Related Party Transactions
Related party costs, SOW 6 one-time milestones - Shares		9		578
Related party costs, SOW 6 one-time milestones - Cash				551
Advent BioServices | Expensed and due, but unpaid (milestone complete)
Related Party Transactions
Related party costs, SOW 6 one-time milestones - Cash		18		111
Advent BioServices | Expensed but unpaid, not yet due (milestone not yet complete)
Related Party Transactions
Related party costs, SOW 6 one-time milestones - Shares		24		115
Related party costs, SOW 6 one-time milestones - Cash		$ 13		$ 130

Related Party Transactions - Ad

Related Party Transactions - Advent BioServices Sublease Agreement (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) ft² item	Sep. 30, 2024 GBP (£) item	Sep. 30, 2023 USD ($)
Related Party Transactions
Total area of lease (in sqft) | ft²	88,000		88,000
Lease payments			$ 704,000		$ 691,000
Sub-lease income	$ 36,000	$ 36,000	109,000		$ 108,000
Interest expense related to german taxes	$ 200,000		$ 200,000
Advent BioServices
Related Party Transactions
Area of sublease (in sqft) | ft²	14,459		14,459
Total area of lease (in sqft) | ft²	88,000		88,000
Number of times calculated for lease payment under sub-lease | item			2	2
Rate per square foot under sub-lease			$ 7.70	£ 5.75
Cap rate per square foot under sub-lease			10
Sub-lease payments receivable			145,000
Advent BioServices | Exterior spaces
Related Party Transactions
Lease payments | £				550,000
Approximate Operating Lease Payments	$ 736,000		736,000
Advent BioServices | Parking
Related Party Transactions
Lease payments | £				£ 550,000
Approximate Operating Lease Payments	$ 736,000		$ 736,000

Related Party Transactions - _2

Related Party Transactions - Related Party Accounts Payable (Details) - USD ($) $ in Thousands, shares in Millions	Dec. 20, 2023	Sep. 30, 2024	Dec. 31, 2023
Advent BioServices - amount invoiced but unpaid
Related Party Transactions
Invoiced but unpaid		$ 1,942	$ 1,668
Advent BioServices - amount accrued but unpaid
Related Party Transactions
Accrued and unpaid		1,101	1,601
Advent BioServices
Related Party Transactions
Accounts payable and accrued expenses		$ 3,043	$ 3,269
Accounts Payable, Related Party, Type [Extensible Enumeration]		us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Advent BioServices Agreement | Restricted Stock Awards | Completion of MHRA application milestone
Related Party Transactions
Number of shares not issued	1.5
Reclass earned but unissued milestone shares from equity to liability	$ 1,100

Preferred Stock (Details)

Preferred Stock (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 shares
Preferred Stock
Conversion of shares | $			$ 2,679,000
Accrued interest expense | $	$ 200,000		$ 200,000
Series C Convertible Preferred Stock
Preferred Stock
Issuance of stock for cash (in shares)	33,000	405,000	758,000	729,000
Issuance of Series C preferred stock for conversion of debt and accrued interest (in shares)	368,000		535,000
Series C Convertible Preferred Stock | Common Stock
Preferred Stock
Number of shares converted			1,500,000
Value of shares converted | $			$ 13,700,000
Number of shares issued on conversion	37,600,000		37,600,000
Conversion ratio from preferred stock to common stock	0.04		0.04
Series C Convertible Preferred Stock | Series C Subscription Agreements | Series C Investors
Preferred Stock
Issuance of stock for cash (in shares)			800,000
Temporary equity, par value (in dollars per share) | $ / shares	$ 0.001		$ 0.001
Weighted average purchase price | $ / shares	$ 10.82		$ 10.82
Gross proceeds from issuance of shares | $			$ 8,200,000

Stockholders' Deficit - Stock P

Stockholders' Deficit - Stock Purchase Warrants (Details) - $ / shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Stockholders' Deficit
Number of Warrants, Outstanding	105,241
Number of Warrants, Warrants granted	244
Number of Warrants, Warrants exercised for cash	(6,421)
Number of Warrants, Cashless warrants exercise	(4,794)
Number of Warrants, Outstanding	94,270	105,241
Weighted Average Exercise Price - Outstanding	$ 0.31
Weighted Average Exercise Price - Warrants granted	0.40
Weighted Average Exercise Price - Warrants exercised for cash	0.24
Weighted Average Exercise Price, Cashless warrants exercise	0.27
Weighted Average Exercise Price - Outstanding	$ 0.28	$ 0.31
Remaining Contractual Term	2 years 29 days	1 year 9 months 29 days

Stockholders' Deficit - Additio

Stockholders' Deficit - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 04, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Stockholders' Deficit
Warrants to purchase shares		200,000		200,000
Common stock, shares authorized		1,700,000,000		1,700,000,000		1,700,000,000
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001		$ 0.001
Proceeds from exercise of outstanding warrants				$ 1,500
Proceeds from issuance of common stock to investors		$ 7,114		10,011
Proceeds from issuance of common shares				$ 10,011
Warrants exercise price		$ 0.40		$ 0.40
Stock issued on exercise of warrants				6,400,000
Conversion of share settled debt into common stock		$ 4,987	$ 2,974	$ 13,721	$ 6,536
Number of options exercised in cashless				700,000
Number of warrants, cashless warrants exercise				4,794,000
Settled true-up provision				$ 800
Number of warrants outstanding		94,270,000		94,270,000		105,241,000
Class of warrant or right, extended in suspension				90,000,000
Modification cost associated with debt financing				$ 1,600
Deemed dividend related to warrant modification		$ 132	519	1,141	1,433
Pre Modification
Stockholders' Deficit
Incremental stock-based compensation for stock options modification				2,700
Notes
Stockholders' Deficit
Cash payments				9,700
Conversion of share settled debt into common stock				13,000
Accrued interest expense on debt				$ 700
Number of shares issued to lenders in lieu of cash payments				29,900,000
Warrants issued as consideration for warrants suspension
Stockholders' Deficit
Number of warrants outstanding		94,000,000		94,000,000
Cashless warrants exercised
Stockholders' Deficit
Number of warrants, cashless warrants exercise				4,800,000
Equity Option | Cashless warrants exercised
Stockholders' Deficit
Warrants exercise price		$ 0.35		$ 0.35
Common Stock
Stockholders' Deficit
Number of shares issued during the period		25,363,000		33,488,000
Proceeds from issuance of common stock to investors		$ 26		$ 34
Shares of common stock issued on exercise of warrants and options				3,100,000
Conversion of share settled debt into common stock		$ 17	$ 4	$ 38	$ 11
Number of shares issued to lenders in lieu of cash payments		16,711,000	4,651,000	37,602,000	11,081,000
June Offering | Placement Agent Warrant
Stockholders' Deficit
Number of shares issued during the period	8,125,000
Purchase price	$ 0.40
Sale of Stock Consideration Received on Transaction				$ 3,300
Proceeds from issuance of common shares				$ 2,900
Minimum
Stockholders' Deficit
Warrants exercise price		$ 0.24		$ 0.24
Minimum | Common Stock | Equity Option | Cashless warrants exercised
Stockholders' Deficit
Warrants exercise price		0.20		0.20
Maximum | Common Stock | Equity Option | Cashless warrants exercised
Stockholders' Deficit
Warrants exercise price		$ 0.34		$ 0.34

Stockholders' Deficit - Warrant

Stockholders' Deficit - Warrant Modifications (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares
Stock-based Compensation
Exercise price	$ 0.53
Expected term (years)	2 years 1 month 6 days
Volatility	73%
Risk-free rate	4.50%
Dividend yield	0%
Post Modification | Warrants
Stock-based Compensation
Exercise price	$ 0.29
Expected term (years)	2 years 4 months 24 days
Volatility	75%
Risk-free rate	4.70%
Dividend yield	0%
Pre Modification | Warrants
Stock-based Compensation
Exercise price	$ 0.30
Expected term (years)	2 years 1 month 6 days
Volatility	75%
Risk-free rate	4.90%
Dividend yield	0%

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lease cost
Operating lease cost			$ 661,000	$ 633,000
Short-term lease cost			39,000	62,000
Variable lease cost			24,000	10,000
Sub-lease income	$ (36,000)	$ (36,000)	(109,000)	(108,000)
Total			615,000	597,000
Other information
Right of use assets exchanged for new operating lease liabilities			364,000
Operating cash flows from operating leases			(704,000)	(691,000)
U.K
Lease cost
Operating lease cost			470,000	443,000
Short-term lease cost			39,000	62,000
Sub-lease income			(109,000)	(108,000)
Total			400,000	397,000
Other information
Operating cash flows from operating leases			$ (499,000)	$ (467,000)
Weighted-average remaining lease term - operating leases	7 years 2 months 12 days	8 years 1 month 6 days	7 years 2 months 12 days	8 years 1 month 6 days
Weighted-average discount rate - operating leases	12%	12%	12%	12%
U.S
Lease cost
Operating lease cost			$ 191,000	$ 190,000
Variable lease cost			24,000	10,000
Total			215,000	200,000
Other information
Right of use assets exchanged for new operating lease liabilities			364,000
Operating cash flows from operating leases			$ (205,000)	$ (224,000)
Weighted-average remaining lease term - operating leases	1 year 6 months	8 months 12 days	1 year 6 months	8 months 12 days
Weighted-average discount rate - operating leases	12%	12%	12%	12%

Commitments and Contingencies -

Commitments and Contingencies - Operating Lease - Lessor Arrangements (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) ft² item	Sep. 30, 2024 GBP (£) item	Sep. 30, 2023 USD ($)
Commitments and Contingencies
Total area of lease (in sqft) | ft²	88,000
Lease payments	$ 704,000		$ 691,000
Advent BioServices
Commitments and Contingencies
Area of sublease (in sqft) | ft²	14,459
Total area of lease (in sqft) | ft²	88,000
Number of times calculated for lease payment under sub-lease | item	2	2
Rate per square foot under sub-lease	$ 7.70	£ 5.75
Cap rate per square foot under sub-lease	10
Sub-lease payments receivable	145,000
Advent BioServices | Exterior spaces
Commitments and Contingencies
Lease payments | £		550,000
Approximate operating lease payments	736,000
Advent BioServices | Parking
Commitments and Contingencies
Lease payments | £		£ 550,000
Approximate operating lease payments	$ 736,000

Commitments and Contingencies_3

Commitments and Contingencies - Maturities of our operating leases (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Maturities of our operating leases, excluding short-term leases and sublease agreement
Three months ended December 31, 2024	$ 174
Year ended December 31, 2025	929
Year ended December 31, 2026	886
Year ended December 31, 2027	696
Year ended December 31, 2028	696
Thereafter	6,940
Total	10,321
Less present value discount	(5,237)
Operating lease liabilities included in the Condensed Consolidated Balance Sheet at September 30, 2024	5,084
Sublease agreement
Maturities of our operating leases, excluding short-term leases and sublease agreement
Three months ended December 31, 2024	36
Year ended December 31, 2025	145
Year ended December 31, 2026	145
Year ended December 31, 2027	145
Year ended December 31, 2028	145
Thereafter	1,450
Total	$ 2,066

Commitments and Contingencies_4

Commitments and Contingencies - Additional Information (Details) £ in Millions

1 Months Ended

9 Months Ended

Jan. 16, 2024 USD ($)

Jan. 16, 2024 EUR (€)

Oct. 12, 2023 USD ($)

Oct. 12, 2023 EUR (€)

Jul. 27, 2022 USD ($)

Jul. 27, 2022 EUR (€)

Nov. 04, 2021 USD ($)

Nov. 04, 2021 EUR (€)

May 14, 2018 USD ($)

May 14, 2018 GBP (£)

Jul. 31, 2022 USD ($)

Jul. 31, 2022 EUR (€)

Jan. 31, 2022 USD ($)

Jan. 31, 2022 EUR (€)

Sep. 30, 2024 USD ($)

Sep. 30, 2024 EUR (€)

Sep. 30, 2024 EUR (€)

Aug. 22, 2024 USD ($)

Dec. 31, 2023 USD ($)

Commitments and Contingencies

Lease, practical expedient, lessor single lease component [true false]

true

true

Additional lease term

2 years

Additional ROU assets

$ 400,000

Additional lease liabilities

$ 400,000

Operating lease liabilities

$ 5,084,000

Operating lease, term of contract

20 years

20 years

ROU asset

$ 4,515,000

$ 4,183,000

Litigation settlement waiver of penalty

$ 145,000

€ 135,000

Loss contingency accrual payment

$ 207,000

€ 189,000

$ 201,000

€ 189,000

Accrued trade tax liability

173,000

€ 155,000

Accrued corporate tax liability

110,000

€ 99,000

Gain contingency

50,000,000

Long term convertible notes

Commitments and Contingencies

Debt instrument, exchanged from previously executed non dilutive financial instrument

300,000

Advent Bio services agreement

Commitments and Contingencies

Term of agreement

12 months

12 months

Advent Bio services agreement | Minimum

Commitments and Contingencies

Minimum required payments for this notice period

$ 6,200,000

£ 4.6

German tax authority

Commitments and Contingencies

Settlement expense

329,000

€ 277,000

Received tax bills

$ 238,000

€ 222,000

$ 238,000

€ 222,000

State and local jurisdiction

Commitments and Contingencies

Settlement expense

$ 272,000

€ 231,000

Additional late fees

$ 554,000

€ 513,000

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, € in Thousands, $ in Thousands, shares in Millions				1 Months Ended	9 Months Ended
	Nov. 08, 2024 USD ($) $ / shares	Nov. 08, 2024 EUR (€)	Oct. 18, 2024 USD ($) installment	Nov. 08, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Subsequent Events
Proceeds from issuance of common shares					$ 10,011
Principal amount					51,838	$ 40,769
Original issue discount					$ 1,566	$ 1,998
October commercial loan
Subsequent Events
Original issue discount			$ 200
Subsequent event
Subsequent Events
Amount of funding from the sale of shares and proceeds of debt arrangements and contingent liability obligations				$ 8,400
Number of shares issued during the period | shares				3.8
Proceeds from issuance of common shares				$ 1,000
Issue of common stock in lieu of cash payment | shares				6.2
Non-cash payments of debt				$ 1,600
Shares of common stock extinguish | shares				0.6
Outstanding shares liability				$ 200
Subsequent event | Basic Technology Transfer, New SOPs & Regulatory Documents
Subsequent Events
Amount paid in cash for milestones	$ 700	€ 550
Subsequent event | Process Development: TFF System vs. Other Systems
Subsequent Events
Amount paid in cash for milestones	600	450
Subsequent event | Process Development: Existing and New Product Composition
Subsequent Events
Amount paid in cash for milestones	800	600
Subsequent event | Technology Transfer: Clean Room Implementation
Subsequent Events
Amount paid in cash for milestones	500	350
Subsequent event | New IMPD and New IND
Subsequent Events
Amount paid in cash for milestones	500	€ 350
Subsequent event | Convertible Note
Subsequent Events
Principal amount	$ 5,500			$ 5,500
Interest rate (in percent)	11%			11%
Term of debt (in years)				2 years
Subsequent event | Convertible Note | Minimum
Subsequent Events
Conversion price | $ / shares	$ 0.285			$ 0.285
Subsequent event | Convertible Note | Maximum
Subsequent Events
Conversion price | $ / shares	$ 0.30			$ 0.30
Subsequent event | October commercial loan
Subsequent Events
Principal amount			$ 2,200
Interest rate (in percent)			8%
Term of debt (in years)			22 months
Number of installments for amortization | installment			14