ContraFect (CFRXQ) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 12, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Entity Interactive Data Current	Yes
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	CFRX
Entity Registrant Name	ContraFect Corporation
Entity Central Index Key	0001478069
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Security Exchange Name	NASDAQ
Entity Shell Company	false
Entity File Number	001-36577
Entity Tax Identification Number	39-2072586
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	28 Wells Avenue
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	Yonkers
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10701
City Area Code	914
Local Phone Number	207-2300
Entity Common Stock, Shares Outstanding		39,332,721
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 9,549	$ 16,654
Marketable securities	17,753	37,631
Prepaid expenses	8,313	4,439
Other current assets	2,097	4,140
Total current assets	37,712	62,864
Property and equipment, net	653	741
Operating lease right-of-use assets	2,326	2,544
Other assets	107	613
Total assets	40,798	66,762
Current liabilities:
Accounts payable	11,269	2,389
Accrued and other current liabilities	8,667	9,128
Current portion of lease liabilities	664	657
Total current liabilities	20,600	12,174
Warrant liabilities	4,826	2,530
Long-term portion of lease liabilities	2,414	2,609
Other liabilities	73	73
Total liabilities	27,913	17,386
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.0001 par value, 25,000,000 shares authorized and none outstanding at June 30, 2022 and December 31, 2021
Common stock, $0.0001 par value, 125,000,000 shares authorized, 39,332,721 shares issued and outstanding at June 30, 2022 and December 31, 2021	4	4
Additional paid-in capital	311,892	310,008
Accumulated other comprehensive loss	(213)	(84)
Accumulated deficit	(298,798)	(260,552)
Total stockholders' equity	12,885	49,376
Total liabilities and stockholders' equity	$ 40,798	$ 66,762

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares outstanding	0	0
Preferred Stock, Shares Issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	39,332,721	39,332,721
Common stock, shares outstanding	39,332,721	39,332,721

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 16,760	$ 7,777	$ 29,485	$ 15,798
General and administrative	3,266	2,935	6,520	5,700
Total operating expenses	20,026	10,712	36,005	21,498
Loss from operations	(20,026)	(10,712)	(36,005)	(21,498)
Other income (expense):
Interest income	21	30	55	55
Change in fair value of warrant liabilities	1,916	5,286	(2,296)	10,852
Total other income (expense), net	1,937	5,316	(2,241)	10,907
Net loss	$ (18,089)	$ (5,396)	$ (38,246)	$ (10,591)
Per share information:
Basic net income (loss) per share	$ (0.46)	$ (0.14)	$ (0.97)	$ (0.31)
Shares used in computing net loss per share	39,332,721	39,332,721	39,332,721	34,176,801
Diluted net income (loss) per share	$ (0.46)	$ (0.14)	$ (0.97)	$ (0.31)
Shares used in computing diluted net income (loss) per share	39,332,721	39,332,721	39,332,721	34,176,801

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (18,089)	$ (5,396)	$ (38,246)	$ (10,591)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities	11	(13)	(129)	(21)
Comprehensive loss	$ (18,078)	$ (5,409)	$ (38,375)	$ (10,612)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Beginning Balance at Dec. 31, 2020	$ 12,620	$ 3	$ 252,908	$ (21)	$ (240,270)
Beginning Balance, Shares at Dec. 31, 2020		27,810,161
Issuance of securities in registered offering	57,500	$ 1	57,499
Issuance of securities in registered offering, Shares		11,500,000
Financing cost of sale of securities	(3,703)		(3,703)
Issuance of common stock for exercise of warrants	110		110
Issuance of common stock for exercise of warrants, Shares		22,560
Stock-based compensation	581		581
Unrealized loss on marketable securities	(8)			(8)
Net loss	(5,195)				(5,195)
Ending balance at Mar. 31, 2021	61,905	$ 4	307,395	(29)	(245,465)
Ending balance, Shares at Mar. 31, 2021		39,332,721
Beginning Balance at Dec. 31, 2020	$ 12,620	$ 3	252,908	(21)	(240,270)
Beginning Balance, Shares at Dec. 31, 2020		27,810,161
Issuance of common stock for exercise of warrants, Shares	22,560
Net loss	$ (10,591)
Ending balance at Jun. 30, 2021	57,434	$ 4	308,333	(42)	(250,861)
Ending balance, Shares at Jun. 30, 2021		39,332,721
Beginning Balance at Mar. 31, 2021	61,905	$ 4	307,395	(29)	(245,465)
Beginning Balance, Shares at Mar. 31, 2021		39,332,721
Stock-based compensation	938		938
Unrealized loss on marketable securities	(13)			(13)
Net loss	(5,396)				(5,396)
Ending balance at Jun. 30, 2021	57,434	$ 4	308,333	(42)	(250,861)
Ending balance, Shares at Jun. 30, 2021		39,332,721
Beginning Balance at Dec. 31, 2021	49,376	$ 4	310,008	(84)	(260,552)
Beginning Balance, Shares at Dec. 31, 2021		39,332,721
Stock-based compensation	919		919
Unrealized loss on marketable securities	(140)			(140)
Net loss	(20,157)				(20,157)
Ending balance at Mar. 31, 2022	29,998	$ 4	310,927	(224)	(280,709)
Ending balance, Shares at Mar. 31, 2022		39,332,721
Beginning Balance at Dec. 31, 2021	49,376	$ 4	310,008	(84)	(260,552)
Beginning Balance, Shares at Dec. 31, 2021		39,332,721
Net loss	(38,246)
Ending balance at Jun. 30, 2022	12,885	$ 4	311,892	(213)	(298,798)
Ending balance, Shares at Jun. 30, 2022		39,332,721
Beginning Balance at Mar. 31, 2022	29,998	$ 4	310,927	(224)	(280,709)
Beginning Balance, Shares at Mar. 31, 2022		39,332,721
Stock-based compensation	965		965
Unrealized loss on marketable securities	11			11
Net loss	(18,089)				(18,089)
Ending balance at Jun. 30, 2022	$ 12,885	$ 4	$ 311,892	$ (213)	$ (298,798)
Ending balance, Shares at Jun. 30, 2022		39,332,721

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (38,246)	$ (10,591)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	76	73
Stock-based compensation expense	1,884	1,519
Change in fair value of warrant liabilities	2,296	(10,852)
Net amortization of premium on marketable securities	502	212
Changes in operating assets and liabilities:
Increase in prepaid expenses and other current and non-current assets	(1,283)	(3,759)
Increase in accounts payable, accrued and other current liabilities	8,419	1,894
Net cash used in operating activities	(26,352)	(21,504)
Cash flows from investing activities
Purchases of marketable securities	0	(44,822)
Proceeds from maturities of marketable securities	19,247	18,340
Net cash provided by (used in) investing activities	19,247	(26,482)
Cash flows from financing activities
Proceeds from issuance of securities		57,500
Payment of financing costs of securities sold		(3,703)
Proceeds from the exercise of warrants		110
Net cash provided by financing activities		53,907
Net (decrease) increase in cash and cash equivalents	(7,105)	5,921
Cash and cash equivalents at beginning of period	16,654	15,485
Cash and cash equivalents at end of period	$ 9,549	$ 21,406

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Organization and Business ContraFect Corporation (the “Company”) is a clinical-stage biotechnology company focused on the discovery and development of direct lytic agents (“DLAs”), including lysins and amurin peptides, as new medical modalities for the treatment of life-threatening, antibiotic-resistant infections. The Company intends to address antibiotic-resistant infections using product candidates from our lysin and amurin peptide platforms. DLAs are fundamentally different than antibiotics and offer a potential paradigm shift in the treatment of antibiotic-resistant infections. The Company’s most advanced product candidate is exebacase, a lysin which targets S. aureus S. aureus S. aureus The Company has incurred recurring losses since inception as a research and development organization and has an accumulated deficit of $298.8 million as of June 30, 2022. For the six months ended June 30, 2022, the Company used $26.4 million of cash in operations. The Company has relied on its ability to fund its operations through public and private debt and equity financings, and, to a lesser extent, grant funding and government contracts. The Company expects operating losses and negative cash flows to continue at significant levels in the future as it continues to advance its programs. As of June 30, 2022, the Company had approximatel million in cash, cash equivalents and marketable securities, which, without additional funding, the Company believes will not be sufficient to meet its obligations within the next twelve months from the date of issuance of these consolidated financial statements. The Company plans to continue to fund its operations through public or private debt and equity financings, but there can be no assurances that such financing will continue to be available to the Company on satisfactory terms, or at all, particularly in light of the Trial Closure. As such, under the requirements of Accounting Standard Codification (“ASC”) 205-40, The consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. On August 14, 2020, the Company filed a shelf registration statement on Form S-3 S-3”) S-3 S-3 time-to-time On March 22, 2021, the Company completed an underwritten public offering under the Form S-3 On March 10, 2021, the Company entered into a cost-share contract (the “BARDA Contract”) with BARDA, a division of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response. The base period for the BARDA Contract includes government funding of up to $9.8 million to reimburse expenses to support the conduct of the Phase 3 clinical trial and futility analysis. Following completion of the base period, the BARDA Contract may provide additional BARDA funding in support of the completion of the Phase 3 clinical trial of exebacase.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial information as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2021 was derived from the Company’s audited consolidated financial statements. The Company’s audited consolidated financial statements as of and for the year ended December 31, 2021, including all related disclosures and the complete listing of significant accounting policies as described in Note 2 thereof, are included in the Company’s Annual Report on Form 10-K March In the opinion of management, the unaudited financial information as of June 30, 2022 and for three and six months ended June 30, 2022 and 2021 reflects all adjustments, which are normal recurring adjustments, necessary to present a fair statement of financial position, results of operations and cash flows. The results of operations for three and six months ended June 30, 2022 are not Principles of Consolidation The Company has a wholly-owned subsidiary, ContraFect International Limited, in Scotland that establishes legal status for interactions with the European Economic Area. This subsidiary is dormant or is otherwise non-operative. Significant Risks and Uncertainties The Company’s operations are subject to a number of factors that can affect its operating results and financial condition. Such factors include, but are not limited to, the results of clinical testing and trial activities of the Company’s products, the Company’s ability to obtain regulatory approval to market its products, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, the Company’s products, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, the Company’s ability to raise capital and the effects of the novel coronavirus, or COVID-19, The Company currently relies on a single manufacturer of exebacase drug substance, located in the United States, and two manufacturers of drug product, one located in the United States and one in Western Europe, and there are no long-term supply agreements in place. A sustained disruption in the operations of any of these manufacturers or in the event the Company would need to change to a new supplier, could result in a significant delay in the ability of the Company to complete any associated activities. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to research and development prepaid expenses and accruals, stock-based compensation, warrant valuation and realization of net deferred income taxes. The Company’s actual results may differ from these estimates under different assumptions or conditions, including the effects of significant risks and uncertainties. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company holds these investments in highly rated financial institutions, and, by policy, limits the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no off-balance Cash and Cash Equivalents The Company considers all highly liquid investments with maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits, marketable securities with maturities of three months or less at purchase, and money market funds that invest primarily in certificates of deposit, commercial paper and U.S. government and U.S. government agency obligations. Cash equivalents are reported at fair value. Marketable Securities Marketable securities consist of investments in corporate debt securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The Company classifies its marketable securities as available-for-sale Investments – Debt and Equity Securities The Company reviews marketable securities for other-than-temporary impairment whenever the fair value of a marketable security is less than the amortized cost and evidence indicates that a marketable security’s carrying amount is not recoverable within a reasonable period of time. Other-than-temporary impairments of investments are recognized in the consolidated statements of operations if the Company has experienced a credit loss, has the intent to sell the marketable security, or if it is more likely than not that the Company will be required to sell the marketable security before recovery of the amortized cost basis. Evidence considered in this assessment includes reasons for the impairment, compliance with the Company’s investment policy, the severity and the duration of the impairment and changes in value subsequent to the end of the period. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, marketable securities, accounts payable, accrued liabilities and warrant liabilities. Fair value estimates of these instruments are made at a specific point in time, based on relevant market information. These estimates may be subjective in nature and involve uncertainties and matters of judgment and therefore cannot be determined with precision. The fair value of the Company’s warrant liabilities is based upon unobservable inputs, as described further below. The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company had no liabilities classified as Level 1 or Level 2. The carrying amounts reported in the accompanying financial statements for accounts payable and accrued liabilities approximate their respective fair values due to their short-term maturities. The fair value of the warrant liabilities is discussed in Note 4, “Fair Value Measurements.” Stock-based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation, non-employees, The fair value of options is calculated using the Black-Scholes option pricing model on the date of grant based on key assumptions such as stock price, risk free interest rates, expected volatility, expected term, and expected dividend yield. The Company’s estimates of these assumptions are based on historical data and judgment regarding future trends and factors. Government Contracts and Grant Agreements The Company recognizes a receivable, which is included in other current assets on its consolidated balance sheet, and the related reduction in its research and development expenses when the actual reimbursable costs have been incurred and there is reasonable assurance that the Company has complied with the conditions of the applicable government contract or grant agreement and the amounts will be received. The Company recognized a reduction to its research and development expense in the amount of approximately $2.2 million and $3.0 million for the three months ended June 30, 2022 and 2021, and $4.3 million and $4.0 million for the six months ended June 30, 2022 and 2021, respectively. The receivable for government contracts and grant agreements as of June 30, 2022 and December 31, 2021 was approximately $2.1 million and $4.1 million, respectively, and is included in other current assets on the consolidated balance sheet. The Company has approximately $2.7 million of committed government contract and grant agreement funding remaining as of June 30, 2022. Leases The Company accounts for leases in accordance with Accounting Standards Update No. 2016-02- Leases right-of-use Under the Company’s policy, it does not record an ROU asset or corresponding liability for arrangements where the initial lease term is one year or less. Those leases are expensed on a straight-line basis over the term of the lease. Net Loss Per Share Basic net loss per share applicable to common stockholders is calculated by dividing net loss applicable to common stockholders by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share applicable to common stockholders is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. For purposes of the dilutive net loss per share applicable to common stockholders’ calculation, stock options and warrants are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share applicable to common stockholders, as their effect would be anti-dilutive; therefore, basic and diluted net loss per share applicable to common stockholders were the same for all periods presented. Recently Adopted Accounting Pronouncements Government Assistance On January 1, 2022, the Company adopted Accounting Standards Update No. 2021-10, Disclosure by Business Entities about Government Assistance (ASU 2021-10) 2021-10 Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued a new Accounting Standards Update, Financial Instruments-Credit Losses (ASU 2016-13). 2016-13 available-for-sale

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	3. Marketable Securities Marketable securities at June 30, 2022 consisted of the following (in thousands): Marketable Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value Current: Corporate debt $ 17,966 $ — $ (213 ) $ 17,753 Marketable securities at December 31, 2021 consisted of the following (in thousands): Marketable Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value Current: Corporate debt $ 37,715 $ — $ (84 ) $ 37,631 Corporate debt includes obligations issued by investment-grade corporations and may include issues that have been guaranteed by governments and government agencies. Investments classified as short-term have maturities of less than one year, and investments classified as long-term are those that have maturities of greater than one year and management does not intend to liquidate within the next twelve months. All of the Company’s marketable securities have an effective maturity of less than two years. At June 30, 2022, the Company held 11 debt securities that individually and in total were in an immaterial unrealized loss position for less than one year. The aggregate fair value of debt securities in an unrealized loss position at June 30, 2022 was approximately $17.8 million. The Company evaluated its securities for other than temporary impairment and considered the decline in market value for the securities to be primarily attributable to current economic and market conditions. It was not more likely than not that the Company would have been required to sell the securities prior to the recovery of the amortized cost basis. Based on this analysis, these marketable securities were not considered to be other-than-temporarily impaired as of June 30, 2022.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 (in thousands): Fair Value Measurement as of June 30, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 6,792 $ — $ — Marketable securities 17,753 — — Warrant liabilities — — 4,826 Total $ 24,545 $ — $ 4,826 Fair Value Measurement as of December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 7,734 $ — $ — Marketable securities 37,631 — — Warrant liabilities — — 2,530 Total $ 45,365 $ — $ 2,530 The Company issued warrants to the purchasers of its July 25, 2017 offering (the “2017 Warrants”). The Company determined that these warrants should be classified as a liability and considered as a Level 3 financial instrument (see also Note 8, “Capital Structure”). The 2017 Warrants are re-measured As of June 30, 2022 As of December 31, 2021 Expected volatility 146.3 % 56.5 % Remaining contractual term (in years) 0.08 0.58 Risk-free interest rate 1.28 % 0.19 % Expected dividend yield — % — % The Company issued warrants to the purchasers of its May 27, 2020 offering (the “2020 Warrants”). The Company determined that these warrants should be classified as a liability and considered as a Level 3 financial instrument (see also Note 8, “Capital Structure”). The 2020 Warrants are re-measured As of June 30, 2022 As of December 31, 2021 Expected volatility 84.6 % 61.9 % Remaining contractual term (in years) 0.92 1.42 Risk-free interest rate 2.80 % 0.56 % Expected dividend yield — % — % Warrant liabilities The following tables present a reconciliation of the Company’s financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Balance at beginning of period $ 6,742 $ 23,838 $ 2,530 $ 29,404 (Decrease) increase in fair value (1) (1,916 ) (5,286 ) 2,296 (10,852 ) Balance at end of period $ 4,826 $ 18,552 $ 4,826 $ 18,552 (1) The change in fair values of the warrant liabilities is recorded in other income in the consolidated statement of operations. The key inputs into the Black-Scholes option pricing model are the current per-share the

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	5. Accrued Liabilities Accrued liabilities consist of the following as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Accrued research and development service fees $ 6,011 $ 5,641 Accrued compensation costs 1,327 2,215 Accrued professional fees 1,000 819 Accrued facilities operation expenses 144 307 Other accrued expenses 185 146 Total accrued liabilitie s $ 8,667 $ 9,128

Net Loss Per Share of Common St

Net Loss Per Share of Common Stock	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share of Common Stock	6. Net Loss Per Share of Common Stock Diluted net loss per share is the same as basic net loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. The following table sets forth the computation of basic and diluted net loss per share for common stockholders (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ (18,089 ) $ (5,396 ) $ (38,246 ) $ (10,591 ) Weighted average shares of common stock outstanding 39,332,721 39,332,721 39,332,721 34,176,801 Net loss per share of common stock—basic and diluted $ (0.46 ) $ (0.14 ) $ (0.97 ) $ (0.31 ) The following potentially dilutive securities outstanding at June 30, 2022 and 2021 have been excluded from the computation of diluted weighted average shares outstanding, as they would have been anti-dilutive: June 30, 2022 2021 Options to purchase common stock 4,448,969 2,848,693 Warrants to purchase common stock 10,925,166 12,327,304 Total 15,374,135 15,175,997

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Operating Leases In December 2010, the Company entered into a non-cancellable In January 2012, the Company entered into a non-cancellable The Company performed an evaluation of its other contracts in accordance with Topic 842 and has determined that, except for the leases described above, none of its contracts contain a lease. The balance sheet classification of the Company’s lease liabilities was as follows (in thousands): Description June 30, 2022 December 31, 2021 Operating lease liabilities: Current portion of lease liabilities $ 664 $ 657 Long-term portion of lease liabilities $ 2,414 $ 2,609 Operating lease liabilities are based on the net present value of the remaining lease payments over the remaining lease term. The leases are renewable at the end of the lease term at our option. For the purposes of determining the remaining lease term in contemplation of available extensions, the Company did not consider either renewal to be probable at this time. In determining the present value of lease payments, the Company estimated its incremental borrowing rate, or discount rate, based on the information available at the adoption date of Topic 842. The discount rate used to determine the operating lease liability was 9.93%. As of June 30, 2022, the maturities of our operating lease liabilities were as follows (in thousands): Amount July 1, 2022 - December 31, 2022 $ 347 Year ending December 31: 2023 707 2024 721 2025 736 2026 750 Thereafter 702 Total lease payments 3,963 Less: Present value adjustment (885 ) Operating lease liabilities $ 3,078 Lease costs under the terms of the Company’s leases for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 154 $ 154 $ 307 $ 307 Variable lease costs (2) 42 35 81 65 Total lease cost $ 196 $ 189 $ 388 $ 372 (1) Operating lease payments included in the measurement of the Company’s lease liabilities are comprised of fixed payments according to the terms of the Company’s leases. (2) Variable lease payments consist of the Company’s utility costs billed by and paid to its landlord. Variable lease payments are presented as operating expenses in the Company’s Consolidated Statement of Operations in the same line item as expense arising from fixed lease payments and in net cash used in operating activities in the Company’s Statement of Cash Flows. Rockefeller University License Agreements The Company has entered into the following license agreements with The Rockefeller University: • On July 12, 2011, the Company entered into a license agreement for the worldwide, exclusive right to a patent covering the composition of matter for the lysin PlySS2 for the treatment and prevention of diseases caused by gram-positive bacteria (the “CF-301 CF-301 • On June 1, 2011, the Company entered into a license agreement for the exclusive rights to The Rockefeller University’s interest in a joint patent application covering the method of delivering antibodies through the cell wall of gram-positive bacteria to the periplasmic space. This intellectual property was developed as a result of the sponsored research agreement between the Company and The Rockefeller University and was jointly discovered and filed by the two parties. • On September 23, 2010, the Company entered into a license agreement for the worldwide, exclusive right to develop, make, have made, use, import, lease, sell, and offer for sale products that would otherwise infringe a claim of the suite of patents and patent applications covering the composition of matter for eight individual lysin molecules for the treatment and prevention of diseases caused by gram-positive bacteria. The lysins in this suite have activity against Group B Streptococci Staphylococcus aureus, Streptococcus pneumonia, Bacillus anthracis, Enterococcus faecalis and Enterococcus faecium In consideration for the licenses, the Company paid Rockefeller license initiation fees in cash and stock. The Company paid annual maintenance fees of $200,000 in each of 2021, 2020 and 2019, and are required to pay $200,000 each year thereafter until the licenses terminate. Depending on the success of its programs, the Company may also incur regulatory milestone payments up to a total of $5.0 million and royalties of up to 5% on net sales from products to Rockefeller. We are allowed to grant sublicenses to third parties without prior approval, subject to certain conditions and the payment of a certain percentage of all payments we receive from sublicensees. There were no milestone, royalty or sublicense payments made during the six months ended June 30, 2022 or 2021. The Company has made total milestone payments under the CF-301 Each license agreement terminates upon the later of (i) the expiration or abandonment of the last licensed patent under the license agreement to expire or become abandoned, or (ii) 10 years after the first commercial sale of the first licensed product. The Rockefeller University may terminate any license agreement in the event of a breach of such agreement by the Company or if the Company challenges the validity or enforceability of the underlying patent rights. The Company may terminate any license agreement at any time on 60 days’ notice. Legal Contingencies From time to time, the Company may be involved in disputes and legal proceedings in the ordinary course of its business. These proceedings may include allegations of infringement of intellectual property, employment or other matters. The Company records a liability in its financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary to make the financial statements not misleading. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in the Company’s financial statements. The Company currently has no legal proceedings ongoing that management estimates could have a material effect on the Company’s financial statements.

Capital Structure

Capital Structure	6 Months Ended
	Jun. 30, 2022
Capital Structure [Abstract]
Capital Structure	8. Capital Structure Common Stock As of June 30, 2022, the Company was authorized to issue 125,000,000 shares of common stock. Follow-on On March 22, 2021, the Company completed an underwritten public offering of 11,500,000 shares of its common stock, including shares sold pursuant to the fully exercised overallotment option granted to the underwriters in connection with the offering, at a public offering price of $5.00 per share, resulting in net proceeds to the Company of approximately $53.8 million after underwriting discounts and commissions and offering expenses payable by the Company. On May 27, 2020, the Company completed an underwritten public offering of 11,797,752 shares of its common stock and warrants to purchase an additional 8,848,314 shares of its common stock at an exercise price of $4.90 per share. The public offering price was $4.45 for one share of common stock and an accompanying warrant to purchase 0.75 shares of common stock, resulting in net proceeds to the Company of approximately $48.9 million after underwriting discounts and commissions and offering expenses payable by the Company. The Company completed a concurrent private placement to Pfizer Inc. (“Pfizer”) of 674,156 shares of common stock and an accompanying warrant to purchase an additional 505,617 shares of its common stock at an exercise price of $4.90 per share (the “Pfizer Warrant”) at a price of $4.45 for one share of common stock and an accompanying warrant to purchase 0.75 shares of common stock, resulting in net proceeds to the Company of approximately $3.0 million. No warrants were exercised during the six months ended June 30, 2022. Warrants to purchase 22,560 shares of common stock were exercised during the six months ended June 30, 2021. The Company issued warrants in its 2020 and 2017 offerings. These warrants contain a fundamental transaction provision that obligates the Company to cash settle the warrants under a limited set of conditions not entirely within the Company’s control. Due to this conditional obligation, the Company determined that the 2020 Warrants and the 2017 Warrants classified as liabilities in the Company’s consolidated balance sheet. At issuance, the Company determined the fair value of the 2020 Warrants and the 2017 Warrants to be $31.4 million and $12.4 million, respectively, and reclassified these balances from stockholders’ equity to warrant liability. The fair value of these warrants is re-measured The Pfizer Warrant does not contain the same fundamental transaction provision that obligates the Company to cash settle the warrants under a limited set of conditions not entirely within the Company’s control. Therefore, the Company determined that the Pfizer Warrant should be classified as equity in the Company’s consolidated balance sheet. Voting The holders of shares of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders and written actions in lieu of meetings.​​​​​​​ Dividends The holders of shares of common stock are entitled to receive dividends, if and when declared by the board of directors. As of June 30, 2022, no dividends have been declared or paid on the Company’s common stock since inception. Reserved for Future Issuance The Company has reserved for future issuance the following number of shares of common stock as of June 30, 2022 and December 31, 2021: June 30, December 31, Outstanding options to purchase common stock 4,448,969 2,899,694 Outstanding warrants to purchase common stock 10,925,166 10,926,594 For future issuance under the 2014 Omnibus Incentive Plan 116,665 77,631 For future issuance under the 2021 Employment Inducement Plan 985,000 1,000,000 16,475,800 14,903,919

Stock Warrants

Stock Warrants	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Stock Warrants	9. Stock Warrants As of June 30, 2022 and December 31, 2021, the Company had warrants to purchase the underlying common stock outstanding as shown in the table below. June 30, December 31, 2020 Warrants 8,819,904 8,819,904 2017 Warrants 1,599,645 1,599,645 Pfizer Warrant 505,617 505,617 Other warrants (1) — 1,428 Warrants to purchase common stock 10,925,166 10,926,594 Weighted-average exercise price per share $ 6.45 $ 6.47 (1) Other warrants are comprised of warrants issued prior to the Company’s initial public offering (“IPO”), generally in exchange for services rendered to the Company. The following table summarizes information regarding the Company’s warrants outstanding at June 30, 2022: Exercise Prices Shares Underlying Outstanding Warrants Expiration Date $4.90 9,325,521 May 27, 2023 $15.50 1,599,645 July 25, 2022 10,925,166

Stock Option and Incentive Plan

Stock Option and Incentive Plans	6 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option and Incentive Plans	10. Stock Option and Incentive Plans Amended and Restated 2008 Equity Incentive Plan In July 2008, the Company adopted the 2008 Equity Incentive Plan (the “Plan”). On February 26, 2013, the board of directors approved an amended and restated plan (the “Amended Plan”) under which the number of shares of common stock available for issuance was 157,143. For new awards, the period that vested awards would remain exercisable upon termination of service was reduced from ten years to two years. The board of directors also increased the number of shares of common stock available under the Company’s Amended Plan on February 24, 2014 and April 29, 2014 to 185,714 and 235,714, respectively. As of the closing of the Company’s IPO, there were no further grants made under the Amended Plan. 2014 Omnibus Incentive Plan In April 2014, the Company’s board of directors adopted the 2014 Omnibus Incentive Plan (the “2014 Plan”). The 2014 Plan was approved by the Company’s stockholders on July 3, 2014. The 2014 Plan allows for the granting of incentive and non-qualified 2021 Omnibus Incentive Plan In September 2021, the Company’s board of directors adopted the 2021 Employment Incentive Omnibus Incentive Plan (the “2021 Plan”). The 2021 Plan allows for the granting of non-qualified The Company recognized compensation expense for stock-based compensation based on the fair value of the underlying instrument. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. A summary of stock option activity for the six months ended June 30, 2022, is summarized as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Options outstanding at December 31, 2021 2,899,694 $ 9.12 Granted 1,674,000 3.33 Exercised — — Expired (36,788 ) 12.10 Forfeited (87,937 ) 4.54 Options outstanding at June 30, 2022 4,448,969 7.01 8.46 $ — Vested and exercisable at June 30, 2022 1,972,774 10.54 6.97 $ — The fair value of each option grant is estimated on the date of the grant using the Black-Scholes option-pricing model. The weighted average grant date fair value of options granted during the three months ended June 30, 2022 and 2021 was $3.32 and $4.22, respectively, and during the six months ended June 30, 2022 and 2021 was $3.33 and $4.35, respectively. Total compensation expense recognized amounted to $1.0 million and $0.9 million for the three months ended June 30, 2022 and 2021, respectively, and $1.9 million and $1.5 million for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the total remaining unrecognized compensation cost related to unvested stock options was approximately $7.2 million which will be recognized over a weighted average period of approximately 2.35 years. The following assumptions were used to compute the fair value of stock options granted during the period: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Risk free interest rate 2.94 % 0.85 % 2.15 % 0.84 % Expected dividend yield — — — — Expected term (in years) 5.52 5.97 5.95 5.98 Expected volatility 91.0 % 94.3 % 91.2 % 94.5 % Risk-free interest rate Expected dividend yield— Expected term— Expected volatility—

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On July 7, 2022, the DSMB of the Phase 3 DISRUPT study conducted an interim futility analysis and recommended that the study be stopped because the conditional power of the study was below the pre-specified threshold for futility. Based on the DSMB’s recommendation, patient enrollment in the Phase 3 trial was stopped (“Trial Closure”). The Company continues to monitor <20 already enrolled patients as they complete their follow-up visits and to perform ongoing data review. The Company also expects to complete all clinical study reports as required by the FDA. On July 29, 2022, the Company implemented a restructuring plan resulting in a reduction to the Company’s workforce of 16 employees, or approximately 37% of the Company’s headcount as of June 30, 2022. This reduction includes the resignation of Cara Cassino, M.D. as Chief Medical Officer and Executive Vice President of Research and Development of the Company. The Company expects to recognize a restructuring charge in the third quarter of 2022 of approximately $1.5 million consisting primarily of severance, one-time termination and other related costs, all of which will result in future cash expenditures. Any further financial statement impact of the Trial Closure cannot be estimated by the Company at this time.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial information as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 has been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2021 was derived from the Company’s audited consolidated financial statements. The Company’s audited consolidated financial statements as of and for the year ended December 31, 2021, including all related disclosures and the complete listing of significant accounting policies as described in Note 2 thereof, are included in the Company’s Annual Report on Form 10-K March In the opinion of management, the unaudited financial information as of June 30, 2022 and for three and six months ended June 30, 2022 and 2021 reflects all adjustments, which are normal recurring adjustments, necessary to present a fair statement of financial position, results of operations and cash flows. The results of operations for three and six months ended June 30, 2022 are not
Principles of Consolidation	Principles of Consolidation The Company has a wholly-owned subsidiary, ContraFect International Limited, in Scotland that establishes legal status for interactions with the European Economic Area. This subsidiary is dormant or is otherwise non-operative.
Significant Risks and Uncertainties	Significant Risks and Uncertainties The Company’s operations are subject to a number of factors that can affect its operating results and financial condition. Such factors include, but are not limited to, the results of clinical testing and trial activities of the Company’s products, the Company’s ability to obtain regulatory approval to market its products, competition from products manufactured and sold or being developed by other companies, the price of, and demand for, the Company’s products, the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products, the Company’s ability to raise capital and the effects of the novel coronavirus, or COVID-19, The Company currently relies on a single manufacturer of exebacase drug substance, located in the United States, and two manufacturers of drug product, one located in the United States and one in Western Europe, and there are no long-term supply agreements in place. A sustained disruption in the operations of any of these manufacturers or in the event the Company would need to change to a new supplier, could result in a significant delay in the ability of the Company to complete any associated activities.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to research and development prepaid expenses and accruals, stock-based compensation, warrant valuation and realization of net deferred income taxes. The Company’s actual results may differ from these estimates under different assumptions or conditions, including the effects of significant risks and uncertainties.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company holds these investments in highly rated financial institutions, and, by policy, limits the amounts of credit exposure to any one financial institution. These amounts at times may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no off-balance
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include bank demand deposits, marketable securities with maturities of three months or less at purchase, and money market funds that invest primarily in certificates of deposit, commercial paper and U.S. government and U.S. government agency obligations. Cash equivalents are reported at fair value.
Marketable Securities	Marketable Securities Marketable securities consist of investments in corporate debt securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The Company classifies its marketable securities as available-for-sale Investments – Debt and Equity Securities The Company reviews marketable securities for other-than-temporary impairment whenever the fair value of a marketable security is less than the amortized cost and evidence indicates that a marketable security’s carrying amount is not recoverable within a reasonable period of time. Other-than-temporary impairments of investments are recognized in the consolidated statements of operations if the Company has experienced a credit loss, has the intent to sell the marketable security, or if it is more likely than not that the Company will be required to sell the marketable security before recovery of the amortized cost basis. Evidence considered in this assessment includes reasons for the impairment, compliance with the Company’s investment policy, the severity and the duration of the impairment and changes in value subsequent to the end of the period.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, marketable securities, accounts payable, accrued liabilities and warrant liabilities. Fair value estimates of these instruments are made at a specific point in time, based on relevant market information. These estimates may be subjective in nature and involve uncertainties and matters of judgment and therefore cannot be determined with precision. The fair value of the Company’s warrant liabilities is based upon unobservable inputs, as described further below. The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company had no liabilities classified as Level 1 or Level 2. The carrying amounts reported in the accompanying financial statements for accounts payable and accrued liabilities approximate their respective fair values due to their short-term maturities. The fair value of the warrant liabilities is discussed in Note 4, “Fair Value Measurements.”
Stock-based Compensation	Stock-based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation, non-employees, The fair value of options is calculated using the Black-Scholes option pricing model on the date of grant based on key assumptions such as stock price, risk free interest rates, expected volatility, expected term, and expected dividend yield. The Company’s estimates of these assumptions are based on historical data and judgment regarding future trends and factors.
Government Contracts and Grant Agreements	Government Contracts and Grant Agreements The Company recognizes a receivable, which is included in other current assets on its consolidated balance sheet, and the related reduction in its research and development expenses when the actual reimbursable costs have been incurred and there is reasonable assurance that the Company has complied with the conditions of the applicable government contract or grant agreement and the amounts will be received. The Company recognized a reduction to its research and development expense in the amount of approximately $2.2 million and $3.0 million for the three months ended June 30, 2022 and 2021, and $4.3 million and $4.0 million for the six months ended June 30, 2022 and 2021, respectively. The receivable for government contracts and grant agreements as of June 30, 2022 and December 31, 2021 was approximately $2.1 million and $4.1 million, respectively, and is included in other current assets on the consolidated balance sheet. The Company has approximately $2.7 million of committed government contract and grant agreement funding remaining as of June 30, 2022.
Leases	Leases The Company accounts for leases in accordance with Accounting Standards Update No. 2016-02- Leases right-of-use Under the Company’s policy, it does not record an ROU asset or corresponding liability for arrangements where the initial lease term is one year or less. Those leases are expensed on a straight-line basis over the term of the lease.
Net Loss per Share	Net Loss Per Share Basic net loss per share applicable to common stockholders is calculated by dividing net loss applicable to common stockholders by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share applicable to common stockholders is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. For purposes of the dilutive net loss per share applicable to common stockholders’ calculation, stock options and warrants are considered to be common stock equivalents but are excluded from the calculation of diluted net loss per share applicable to common stockholders, as their effect would be anti-dilutive; therefore, basic and diluted net loss per share applicable to common stockholders were the same for all periods presented.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements Government Assistance On January 1, 2022, the Company adopted Accounting Standards Update No. 2021-10, Disclosure by Business Entities about Government Assistance (ASU 2021-10) 2021-10 Recently Issued Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued a new Accounting Standards Update, Financial Instruments-Credit Losses (ASU 2016-13). 2016-13 available-for-sale

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	Marketable securities at June 30, 2022 consisted of the following (in thousands): Marketable Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value Current: Corporate debt $ 17,966 $ — $ (213 ) $ 17,753 Marketable securities at December 31, 2021 consisted of the following (in thousands): Marketable Securities Amortized Cost Unrealized Gains Unrealized Losses Fair Value Current: Corporate debt $ 37,715 $ — $ (84 ) $ 37,631

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Information about Company's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 (in thousands): Fair Value Measurement as of June 30, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 6,792 $ — $ — Marketable securities 17,753 — — Warrant liabilities — — 4,826 Total $ 24,545 $ — $ 4,826 Fair Value Measurement as of December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash equivalents $ 7,734 $ — $ — Marketable securities 37,631 — — Warrant liabilities — — 2,530 Total $ 45,365 $ — $ 2,530
Reconciliation of Company's Financial Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following tables present a reconciliation of the Company’s financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2022 and 2021 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Balance at beginning of period $ 6,742 $ 23,838 $ 2,530 $ 29,404 (Decrease) increase in fair value (1) (1,916 ) (5,286 ) 2,296 (10,852 ) Balance at end of period $ 4,826 $ 18,552 $ 4,826 $ 18,552 (1) The change in fair values of the warrant liabilities is recorded in other income in the consolidated statement of operations.
2017 Warrants [Member]
Assumption Used to Determine Fair Value of Warrant Liability	The following assumptions were used in a Black-Scholes option-pricing model to determine the fair value of the warrant liability: As of June 30, 2022 As of December 31, 2021 Expected volatility 146.3 % 56.5 % Remaining contractual term (in years) 0.08 0.58 Risk-free interest rate 1.28 % 0.19 % Expected dividend yield — % — %
2020 Warrants [Member]
Assumption Used to Determine Fair Value of Warrant Liability	The following assumptions were used in a Black-Scholes option-pricing model to determine the fair value of the warrant liability: As of June 30, 2022 As of December 31, 2021 Expected volatility 84.6 % 61.9 % Remaining contractual term (in years) 0.92 1.42 Risk-free interest rate 2.80 % 0.56 % Expected dividend yield — % — %

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consist of the following as of June 30, 2022 and December 31, 2021 (in thousands): June 30, 2022 December 31, 2021 Accrued research and development service fees $ 6,011 $ 5,641 Accrued compensation costs 1,327 2,215 Accrued professional fees 1,000 819 Accrued facilities operation expenses 144 307 Other accrued expenses 185 146 Total accrued liabilitie s $ 8,667 $ 9,128

Net Loss Per Share of Common _2

Net Loss Per Share of Common Stock (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Loss Per Share for Common Stockholders	The following table sets forth the computation of basic and diluted net loss per share for common stockholders (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ (18,089 ) $ (5,396 ) $ (38,246 ) $ (10,591 ) Weighted average shares of common stock outstanding 39,332,721 39,332,721 39,332,721 34,176,801 Net loss per share of common stock—basic and diluted $ (0.46 ) $ (0.14 ) $ (0.97 ) $ (0.31 )
Schedule of Antidilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding	The following potentially dilutive securities outstanding at June 30, 2022 and 2021 have been excluded from the computation of diluted weighted average shares outstanding, as they would have been anti-dilutive: June 30, 2022 2021 Options to purchase common stock 4,448,969 2,848,693 Warrants to purchase common stock 10,925,166 12,327,304 Total 15,374,135 15,175,997

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Classification of Lease Liabilities	The balance sheet classification of the Company’s lease liabilities was as follows (in thousands): Description June 30, 2022 December 31, 2021 Operating lease liabilities: Current portion of lease liabilities $ 664 $ 657 Long-term portion of lease liabilities $ 2,414 $ 2,609
Summary of Future Minimum Lease Payments	As of June 30, 2022, the maturities of our operating lease liabilities were as follows (in thousands): Amount July 1, 2022 - December 31, 2022 $ 347 Year ending December 31: 2023 707 2024 721 2025 736 2026 750 Thereafter 702 Total lease payments 3,963 Less: Present value adjustment (885 ) Operating lease liabilities $ 3,078
Lease, Cost	Lease costs under the terms of the Company’s leases for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 154 $ 154 $ 307 $ 307 Variable lease costs (2) 42 35 81 65 Total lease cost $ 196 $ 189 $ 388 $ 372 (1) Operating lease payments included in the measurement of the Company’s lease liabilities are comprised of fixed payments according to the terms of the Company’s leases. (2) Variable lease payments consist of the Company’s utility costs billed by and paid to its landlord. Variable lease payments are presented as operating expenses in the Company’s Consolidated Statement of Operations in the same line item as expense arising from fixed lease payments and in net cash used in operating activities in the Company’s Statement of Cash Flows.

Capital Structure (Tables)

Capital Structure (Tables)	6 Months Ended
	Jun. 30, 2022
Capital Structure [Abstract]
Summary of Common Stock Reserved for Future Issuance	The Company has reserved for future issuance the following number of shares of common stock as of June 30, 2022 and December 31, 2021: June 30, December 31, Outstanding options to purchase common stock 4,448,969 2,899,694 Outstanding warrants to purchase common stock 10,925,166 10,926,594 For future issuance under the 2014 Omnibus Incentive Plan 116,665 77,631 For future issuance under the 2021 Employment Inducement Plan 985,000 1,000,000 16,475,800 14,903,919

Stock Warrants (Tables)

Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2022
Text Block [Abstract]
Schedule of Warrants Outstanding	As of June 30, 2022 and December 31, 2021, the Company had warrants to purchase the underlying common stock outstanding as shown in the table below. June 30, December 31, 2020 Warrants 8,819,904 8,819,904 2017 Warrants 1,599,645 1,599,645 Pfizer Warrant 505,617 505,617 Other warrants (1) — 1,428 Warrants to purchase common stock 10,925,166 10,926,594 Weighted-average exercise price per share $ 6.45 $ 6.47 (1) Other warrants are comprised of warrants issued prior to the Company’s initial public offering (“IPO”), generally in exchange for services rendered to the Company. The following table summarizes information regarding the Company’s warrants outstanding at June 30, 2022: Exercise Prices Shares Underlying Outstanding Warrants Expiration Date $4.90 9,325,521 May 27, 2023 $15.50 1,599,645 July 25, 2022 10,925,166

Stock Option and Incentive Pl_2

Stock Option and Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	A summary of stock option activity for the six months ended June 30, 2022, is summarized as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Options outstanding at December 31, 2021 2,899,694 $ 9.12 Granted 1,674,000 3.33 Exercised — — Expired (36,788 ) 12.10 Forfeited (87,937 ) 4.54 Options outstanding at June 30, 2022 4,448,969 7.01 8.46 $ — Vested and exercisable at June 30, 2022 1,972,774 10.54 6.97 $ —
Assumptions to Compute Fair Value of Stock Option Grants	The following assumptions were used to compute the fair value of stock options granted during the period: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Risk free interest rate 2.94 % 0.85 % 2.15 % 0.84 % Expected dividend yield — — — — Expected term (in years) 5.52 5.97 5.95 5.98 Expected volatility 91.0 % 94.3 % 91.2 % 94.5 %

Organization and Description _2

Organization and Description of Business - Additional Information (Detail) $ / shares in Units, $ in Thousands					6 Months Ended
	Mar. 22, 2021 USD ($) $ / shares shares	Mar. 10, 2021 USD ($)	Aug. 14, 2020 USD ($)	May 27, 2020 $ / shares shares	Jun. 30, 2022 USD ($) ExtensionOptions	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Organization And Description Of Business [Line Items]
Accumulated deficit					$ (298,798)		$ (260,552)
Net cash used in operating activities					(26,352)	$ (21,504)
Number of shares issued | shares				11,797,752
Cash Cash Equivalents And Marketable Securities					$ 27,300
Restructuring and Related Cost, Number of Positions Eliminated | ExtensionOptions					16
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent					37%
BARDA Contract [Member] | Base Period BARDA Funding [Member]
Organization And Description Of Business [Line Items]
Total funding receives in future		$ 9,800
Follow-on Offering [Member]
Organization And Description Of Business [Line Items]
Public offering price, per unit | $ / shares				$ 4.45
Stock issued during period, value			$ 150,000
Over-Allotment Option [Member]
Organization And Description Of Business [Line Items]
Number of shares issued | shares	11,500,000
Public offering price, per unit | $ / shares	$ 5
Proceeds from initial public offer	$ 53,800

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Maturity period of highly liquid investments			three months or less
Realized gains or losses on marketable securities	$ 0	$ 0	$ 0	$ 0
Number of securities in unrealized loss position for more than 12 months	0		0		0
Grants receivable recognized	$ 2,200,000	$ 3,000,000	$ 4,300,000	$ 4,000,000
Grants receivable	2,100,000		2,100,000		$ 4,100,000
Grants remaining to be awarded	2,700,000		2,700,000
Level 1 [Member]
Summary Of Significant Accounting Policies [Line Items]
Liabilities	0		0
Level 2 [Member]
Summary Of Significant Accounting Policies [Line Items]
Liabilities	$ 0		$ 0

Marketable Securities - Schedul

Marketable Securities - Schedule of Marketable Securities (Detail) - Corporate debt [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Marketable Securities, Amortized Cost	$ 17,966	$ 37,715
Marketable Securities, Unrealized Gains	0	0
Marketable Securities, Unrealized Losses	(213)	(84)
Marketable Securities, Fair Value	$ 17,753	$ 37,631

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) Security	Dec. 31, 2021 USD ($)
Marketable Securities [Abstract]
Marketable securities	$ 0	$ 0
Maturity period classified current investments	less than one year
Number of securities in unrealized loss position for less than one year | Security	11
Aggregate fair value of debt securities	$ 17,800

Fair Value Measurements - Infor

Fair Value Measurements - Information about Company's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 17,753	$ 37,631
Warrant liabilities	(4,826)	(2,530)
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,792	7,734
Marketable securities	17,753	37,631
Total assets (liabilities)	24,545	45,365
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	4,826	2,530
Total assets (liabilities)	$ 4,826	$ 2,530

Fair Value Measurements - Assum

Fair Value Measurements - Assumption Used to Determine Fair Value of Warrant Liability (Detail)	Jun. 30, 2022 yr	Dec. 31, 2021 yr
2017 Warrants [Member] | Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	1.463	0.565
2017 Warrants [Member] | Remaining Contractual term (in years) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	0.08	0.58
2017 Warrants [Member] | Risk-free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	0.0128	0.0019
2020 Warrants [Member] | Expected Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	0.846	0.619
2020 Warrants [Member] | Remaining Contractual term (in years) [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	0.92	1.42
2020 Warrants [Member] | Risk-free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of warrant liability	0.028	0.0056

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Company's Financial Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - Warrant Liabilities [Member] - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		$ 6,742	$ 23,838	$ 2,530	$ 29,404
(Decrease) increase in fair value	[1]	(1,916)	(5,286)	2,296	(10,852)
Balance at end of period		$ 4,826	$ 18,552	$ 4,826	$ 18,552
[1]The change in fair values of the warrant liabilities is recorded in other income in the consolidated statement of operations.

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued research and clinical development service fees	$ 6,011	$ 5,641
Accrued compensation costs	1,327	2,215
Accrued professional fees	1,000	819
Accrued facilities operation expenses	144	307
Other accrued expenses	185	146
Total accrued expenses	$ 8,667	$ 9,128

Net Loss Per Share of Common _3

Net Loss Per Share of Common Stock - Schedule of Computation of Basic and Diluted Loss Per Share for Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (18,089)	$ (20,157)	$ (5,396)	$ (5,195)	$ (38,246)	$ (10,591)
Shares used in computing net loss per share	39,332,721		39,332,721		39,332,721	34,176,801
Net (loss) income per share of common stock, basic	$ (0.46)		$ (0.14)		$ (0.97)	$ (0.31)
Shares used in computing diluted net income (loss) per share	39,332,721		39,332,721		39,332,721	34,176,801
Diluted net income (loss) per share	$ (0.46)		$ (0.14)		$ (0.97)	$ (0.31)

Net Loss Per Share of Common _4

Net Loss Per Share of Common Stock - Schedule of Antidilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding (Detail) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities outstanding excluded from the computation of diluted weighted average shares	15,374,135	15,175,997
Employee Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities outstanding excluded from the computation of diluted weighted average shares	4,448,969	2,848,693
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive securities outstanding excluded from the computation of diluted weighted average shares	10,925,166	12,327,304

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended			6 Months Ended
	Dec. 31, 2020	Jan. 31, 2012 ft² ExtensionOptions	Dec. 31, 2011 ExtensionOptions	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jan. 01, 2019
Loss Contingencies [Line Items]
Non-cancellable operating lease, expiration date	2025-12	2027-12
Extended lease agreement, date			2027-12
Number of lease extension options | ExtensionOptions		2	2
Lease renewal termination period		5 years	5 years
Area of space relinquished from lease agreement | ft²		10,912
Milestone payment				$ 810,000
Operating lease, discount rate, percent								9.93%
Rockefeller University [Member]
Loss Contingencies [Line Items]
Annual maintenance fees payable in 2018					$ 200,000	$ 200,000	$ 200,000
Annual maintenance fees payable after 2018					$ 200,000	$ 200,000	$ 200,000
Percentage of royalty on net sales					5%	5%	5%
Regulatory milestone payment					$ 5,000,000	$ 5,000,000	$ 5,000,000
Royalty or sublicense payment				$ 0	$ 0
License agreement termination notice period				60 days
Period of termination after first commercial sale of first licensed product				10 years
License agreement termination description				Each license agreement terminates upon the later of (i) the expiration or abandonment of the last licensed patent under the license agreement to expire or become abandoned, or (ii) 10 years after the first commercial sale of the first licensed product. The Rockefeller University may terminate any license agreement in the event of a breach of such agreement by the Company or if the Company challenges the validity or enforceability of the underlying patent rights. The Company may terminate any license agreement at any time on 60 days’ notice.

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Classification of Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating lease liabilities:
Current portion of lease liabilities	$ 664	$ 657
Long-term portion of lease liabilities	$ 2,414	$ 2,609

Commitments and Contingencies_3

Commitments and Contingencies - Maturities Of Operating Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
April 1, 2022 - December 31, 2022	$ 347
2023	707
2024	721
2025	736
2026	750
Thereafter	702
Total lease payments	3,963
Less: Present value adjustment	(885)
Operating lease liabilities	$ 3,078

Commitments and Contingencies_4

Commitments and Contingencies - Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of Lease of Cost [Abstract]
Operating lease cost	$ 154	$ 154	$ 307	$ 307
Variable lease costs	42	35	81	65
Total lease cost	$ 196	$ 189	$ 388	$ 372

Capital Structure - Additional

Capital Structure - Additional Information (Detail)				6 Months Ended		12 Months Ended
	Mar. 22, 2021 USD ($) $ / shares shares	May 27, 2020 USD ($) $ / shares shares	Jul. 27, 2016 USD ($)	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 shares	Dec. 31, 2020	Jul. 25, 2017 USD ($)
Class of Stock [Line Items]
Common stock, shares authorized | shares				125,000,000
Number of shares issued | shares		11,797,752
Net proceeds received		$ 48,900,000
Gross Proceed		$ 3,000,000
Dividends declared or paid				$ 0
Common stock, voting rights				The holders of shares of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders and written actions in lieu of meetings.
Issuance of common stock for exercise of warrants, Shares | shares					22,560
Private Placement [Member]
Class of Stock [Line Items]
Public offering price, per unit | $ / shares		$ 4.45
Issuance of securities in private placement, Shares | shares		674,156
Follow-on Offering [Member]
Class of Stock [Line Items]
Public offering price, per unit | $ / shares		$ 4.45
Warrants to purchase shares of common stock | shares		8,848,314
Warrant exercise price per share | $ / shares		$ 4.9
Conversion ratio of common stock				0.75		0.75
Follow-on Offering [Member] | 2017 Warrants [Member]
Class of Stock [Line Items]
Fair value of warrants							$ 12,400,000
Issuance costs allocated to warrants			$ 900,000
Follow-on Offering [Member] | 2020 Warrants [Member]
Class of Stock [Line Items]
Fair value of warrants		$ 31,400,000
Issuance costs allocated to warrants		$ 2,200,000
Over-Allotment Option [Member]
Class of Stock [Line Items]
Number of shares issued | shares	11,500,000
Public offering price, per unit | $ / shares	$ 5
Exercise price per common share | $ / shares	$ 5
Proceeds from Issuance Initial Public Offering	$ 53,800,000
Pfizer Warrants [Member]
Class of Stock [Line Items]
Warrants to purchase shares of common stock | shares		505,617
Warrant exercise price per share | $ / shares		$ 4.9

Capital Structure - Summary of

Capital Structure - Summary of Common Stock Reserved for Future Issuance (Detail) - shares	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common Stock reserved for future issuance	16,475,800	14,903,919
Two Thousand Fourteen Omnibus Incentive Plan [Member]
Class of Stock [Line Items]
Common Stock reserved for future issuance	116,665	77,631
Two Thousand Twenty One Employment Inducement Plan [Member]
Class of Stock [Line Items]
Common Stock reserved for future issuance	985,000	1,000,000
Stock Options [Member]
Class of Stock [Line Items]
Common Stock reserved for future issuance	4,448,969	2,899,694
Warrants [Member]
Class of Stock [Line Items]
Common Stock reserved for future issuance	10,925,166	10,926,594

Stock Warrants - Schedule of Wa

Stock Warrants - Schedule of Warrants Outstanding (Detail) - $ / shares		6 Months Ended
		Jun. 30, 2022	Dec. 31, 2021	May 27, 2020
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		10,925,166	10,926,594
Weighted-average exercise price per share		$ 6.45	$ 6.47
Pfizer Warrants [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		505,617	505,617
Exercise Prices				$ 4.9
Other Warrants [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants	[1]	0	1,428
Exercise Price Four Point Nine Zero [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		9,325,521
Expiration Start Date		May 27, 2023
Exercise Price Fifteen Point Five Zero [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		1,599,645
Expiration Start Date		Jul. 25, 2022
Minimum [Member] | Exercise Price Four Point Nine Zero [Member]
Class of Warrant or Right [Line Items]
Exercise Prices		$ 4.9
Maximum [Member] | Exercise Price Fifteen Point Five Zero [Member]
Class of Warrant or Right [Line Items]
Exercise Prices		$ 15.5
2017 Warrants [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		1,599,645	1,599,645
2020 Warrants [Member]
Class of Warrant or Right [Line Items]
Shares Underlying Outstanding Warrants		8,819,904	8,819,904
[1]Other warrants are comprised of warrants issued prior to the Company’s initial public offering (“IPO”), generally in exchange for services rendered to the Company.

Stock Option and Incentive Pl_3

Stock Option and Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2015	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 13, 2021	Jul. 28, 2014	Apr. 29, 2014	Feb. 24, 2014	Feb. 26, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved pursuant to the plan	14,903,919		16,475,800		16,475,800
Weighted average grant date fair value of options			$ 3.32	$ 4.22	$ 3.33	$ 4.35
Unrecognized compensation cost related to unvested stock options			$ 7.2		$ 7.2
Weighted average period of unvested stock options					2 years 4 months 6 days
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized			$ 1.9	$ 1.5	$ 1	$ 0.9
Amended and Restated 2008 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved pursuant to the plan											157,143
Termination of service, Period					2 years
2008 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved pursuant to the plan									235,714	185,714
Termination of service, Period					10 years
2014 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved pursuant to the plan								57,143
Number of additional shares increases of common stock reserved pursuant to the plan	4,268,682
2014 Omnibus Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase of plan, percentage of common stock shares outstanding		4%
2021 Employment Inducement Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved pursuant to the plan							1,000,000

Stock Option and Incentive Pl_4

Stock Option and Incentive Plans - Summary of Stock Option Activity (Detail)	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Options, Options outstanding, Beginning balance | shares	2,899,694
Number of Options, Granted | shares	1,674,000
Number of Options, Exercised | shares	0
Number of Options, Expired | shares	(36,788)
Number of Options, Forfeited | shares	(87,937)
Number of Options, Options outstanding, Ending balance | shares	4,448,969
Number of Options, Vested and exercisable, Ending Balance | shares	1,972,774
Weighted Average Exercise Price, Options outstanding, Beginning balance | $ / shares	$ 9.12
Weighted Average Exercise Price, Granted | $ / shares	3.33
Weighted Average Exercise Price, Exercised | $ / shares	0
Weighted Average Exercise Price, Expired | $ / shares	12.1
Weighted Average Exercise Price, Forfeited | $ / shares	4.54
Weighted Average Exercise Price, Options outstanding, Ending balance | $ / shares	7.01
Weighted Average Exercise Price, Vested and exercisable, Ending balance | $ / shares	$ 10.54
Weighted Average Remaining Contractual Life (in years), Options outstanding	8 years 5 months 15 days
Weighted Average Remaining Contractual Life (in years), Vested and exercisable	6 years 11 months 19 days
Aggregate Intrinsic value, Options outstanding | $	$ 0
Aggregate Intrinsic value, Vested and exercisable | $	$ 0

Stock Option and Incentive Pl_5

Stock Option and Incentive Plans - Assumptions to Compute Fair Value of Stock Option Grants (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk free interest rate	2.94%	0.85%	2.15%	0.84%
Expected dividend yield	$ 0	$ 0	$ 0	$ 0
Expected term (in years)	5 years 6 months 7 days	5 years 11 months 19 days	5 years 11 months 12 days	5 years 11 months 23 days
Expected volatility	91%	94.30%	91.20%	94.50%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions		6 Months Ended
	Jul. 29, 2022 USD ($) ExtensionOptions	Jun. 30, 2022 ExtensionOptions
Subsequent Event [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated		16
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent		37%
Subsequent Event [Member]
Subsequent Event [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated	16
Restructuring and Related Cost, Number of Positions Eliminated, Period Percent	37%
Restructuring charge | $	$ 1.5