Cover
Cover | 9 Months Ended |
Sep. 30, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Entity File Number | 001-36581 |
Entity Registrant Name | Vascular Biogenics Ltd. |
Entity Central Index Key | 0001603207 |
Entity Address, Address Line One | 8 HaSatat St |
Entity Address, City or Town | Israel |
Condensed Consolidated Interim
Condensed Consolidated Interim Statements of Financial Position (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 25,278 | $ 13,184 |
Restricted bank deposits | 151 | |
Short-term bank deposits | 25,167 | 17,110 |
Trade receivables | 129 | |
Other current assets | 912 | 1,419 |
Total current assets | 51,357 | 31,993 |
Non-current assets: | ||
Restricted bank deposits | 362 | 362 |
Long-term prepaid expenses | 201 | 241 |
Funds in respect of employee rights upon retirement | 341 | 354 |
Property, plant and equipment, net | 6,752 | 6,632 |
Operating lease right-of-use assets | 2,127 | 2,124 |
Total non-current assets | 9,783 | 9,713 |
Total assets | 61,140 | 41,706 |
Accounts payable: | ||
Trade | 2,330 | 1,960 |
Other | 4,095 | 4,275 |
Deferred revenue | 679 | 725 |
Current maturity of operating leases liability | 508 | 393 |
Current maturity of finance lease liability | 106 | |
Total current liabilities | 7,612 | 7,459 |
Non-current liabilities: | ||
Liability for employee rights upon retirement | 456 | 474 |
Deferred revenue | 176 | 704 |
Operating lease liability | 1,884 | 2,029 |
Other non-current liability | 173 | 123 |
Total non-current liabilities | 2,689 | 3,330 |
Commitments | ||
Total liabilities | 10,301 | 10,789 |
Ordinary shares subject to possible redemption, 615,366 shares at redemption value (see note 4) | 1,598 | |
Shareholders’ equity: | ||
Ordinary shares, NIS 0.01 par value; Authorized as of September 30, 2021 and December 31, 2020, 150,000,000 shares; issued and outstanding as of September 30, 2021 and December 31, 2020 61,953,091 and 48,187,463 shares, respectively (excluding 615,366 and -0- shares subject to possible redemption, as of September 30, 2021 and December 31, 2020, respectively) | 149 | 108 |
Additional paid in capital | 293,502 | 252,561 |
Warrants | 8,556 | 10,401 |
Accumulated deficit | (252,966) | (232,153) |
Total equity | 49,241 | 30,917 |
Total liabilities, ordinary shares subject to possible redemption and shareholders’ equity | $ 61,140 | $ 41,706 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Statements of Financial Position (Unaudited) (Parenthetical) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Ordinary shares, shares authorized | 150,000,000 | 150,000,000 |
Ordinary shares, shares issued | 61,953,091 | 48,187,463 |
Ordinary shares, shares outstanding | 61,953,091 | 48,187,463 |
Subject to possible redemption | 615,366 | 0 |
NIS [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Ordinary shares, par value | $ 0.01 | $ 0.01 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Net Loss and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue from Contract with Customer [Abstract] | ||||
Revenues | $ 199 | $ 193 | $ 572 | $ 717 |
Cost of revenues | (91) | (132) | (270) | (298) |
Gross profit | 108 | 61 | 302 | 419 |
Research and development expenses, net | 4,996 | 4,600 | 16,407 | 13,773 |
General and administrative expenses | 1,625 | 1,283 | 4,779 | 3,960 |
Operating loss | 6,513 | 5,822 | 20,884 | 17,314 |
Financial income | (19) | (56) | (106) | (391) |
Financial expenses | 8 | 13 | 35 | 39 |
Financial income, net | (11) | (43) | (71) | (352) |
Net loss and comprehensive loss | $ 6,502 | $ 5,779 | $ 20,813 | $ 16,962 |
Loss per share (see note 3) | ||||
Basic and diluted | $ 0.09 | $ 0.12 | $ 0.33 | $ 0.40 |
Weighted average shares outstanding | ||||
Basic and diluted | 70,298,677 | 47,896,747 | 63,530,781 | 42,222,603 |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Changes in Ordinary Shares Subject to Possible Redemption and Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Common Stock [Member]Common Stock Subject to Mandatory Redemption [Member] | Additional Paid-in Capital [Member] | Warrants [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 73 | $ 235,974 | $ 7,904 | $ (207,928) | $ 36,023 | |
Balance at beginning, shares at Dec. 31, 2019 | 35,882,928 | |||||
Net loss | (16,962) | (16,962) | ||||
Issuance of ordinary shares, net of issuance costs | $ 35 | 12,624 | 4,313 | 16,972 | ||
Issuance of ordinary shares, shares | 12,014,008 | |||||
Expired warrants | 1,816 | (1,816) | ||||
Issue of Ordinary shares subject to possible redemption | ||||||
Share based compensation | 1,328 | 1,328 | ||||
Ending balance, value at Sep. 30, 2020 | $ 108 | 251,742 | 10,401 | (224,890) | 37,361 | |
Balance at ending, shares at Sep. 30, 2020 | 47,896,936 | |||||
Beginning balance, value at Dec. 31, 2019 | $ 73 | 235,974 | 7,904 | (207,928) | $ 36,023 | |
Balance at beginning, shares at Dec. 31, 2019 | 35,882,928 | |||||
Issue of Ordinary shares subject to possible redemption, shares | 0 | |||||
Ending balance, value at Dec. 31, 2020 | $ 108 | 252,561 | 10,401 | (232,153) | $ 30,917 | |
Balance at ending, shares at Dec. 31, 2020 | 48,187,463 | |||||
Net loss | (20,813) | (20,813) | ||||
Issuance of ordinary shares, net of issuance costs | $ 27 | 30,730 | 30,757 | |||
Issuance of ordinary shares, net of issuance costs, shares | 8,871,790 | |||||
Exercised warrants | $ 14 | 8,879 | (1,845) | $ 7,048 | ||
Exercised warrants, shares | 4,893,838 | |||||
Issue of Ordinary shares subject to possible redemption | $ 1,598 | |||||
Issue of Ordinary shares subject to possible redemption, shares | 615,366 | 615,366 | ||||
Share based compensation | 1,332 | $ 1,332 | ||||
Ending balance, value at Sep. 30, 2021 | $ 149 | $ 1,598 | $ 293,502 | $ 8,556 | $ (252,966) | $ 49,241 |
Balance at ending, shares at Sep. 30, 2021 | 61,953,091 | 615,366 |
Condensed Consolidated Interi_5
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (20,813) | $ (16,962) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 921 | 896 |
Interest income | (34) | (11) |
Net changes in operating leases | (33) | 10 |
Interest expenses on finance lease | (2) | (1) |
Exchange losses (gains) on cash and cash equivalents and restricted cash | 41 | (137) |
Changes in accrued liability for employee rights upon retirement | (5) | |
Share-based compensation | 1,332 | 1,328 |
Changes in operating assets and liabilities: | ||
Decrease in other current assets and long-term prepaid expenses | 547 | 179 |
Decrease (increase) in trade receivables | 129 | (123) |
Increase (decrease) in accounts payable: | ||
Trade | 370 | (182) |
Other (including other non-current liability) | (228) | (1,029) |
Decrease in deferred revenue | (574) | (480) |
Net cash used in operating activities | (18,349) | (16,512) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (943) | (49) |
Investment in short-term bank deposits | (25,108) | (29,085) |
Maturity of short-term bank deposits | 17,085 | 31,027 |
Net cash (used in) provided by investing activities | (8,966) | 1,893 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of ordinary shares and warrants | 32,959 | 18,647 |
Issuance costs | (2,202) | (1,675) |
Proceeds from issuance of ordinary shares subject to possible redemption | 1,598 | |
Proceeds from exercised warrants | 7,048 | |
Finance lease payments | (104) | (288) |
Net cash provided by financing activities | 39,299 | 16,684 |
INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | 11,984 | 2,065 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | 13,697 | 9,942 |
EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | (41) | 137 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | 25,640 | 12,144 |
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS: | ||
Right of use assets obtained in exchange for new operating lease liabilities | 271 | 230 |
Purchase of property and equipment in payables | 98 | |
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH REPORTED IN THE STATEMENT OF FINANCIAL POSITION | ||
Cash and cash equivalents | 25,278 | 11,633 |
Restricted bank deposits included in current and non-current assets | 362 | 511 |
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | 25,640 | 12,144 |
SUPPLEMENTARY DISCLOSURE ON CASH FLOWS | ||
Interest received | 83 | 311 |
Interest paid | $ 2 | $ 8 |
GENERAL
GENERAL | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GENERAL | NOTE 1 – GENERAL Vascular Biogenics Ltd. (“VBL” or the “Company”) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for difficult-to-treat cancer and immune or inflammatory indications. VBL’s lead candidates are ofranergene obadenovec (“VB-111”) which is being evaluated in a global Phase 3 clinical trial in platinum resistant ovarian cancer (the “ OVAL Study”), and VB-601, a monoclonal antibody targeting monocytes, which is being advanced towards an Investigational New Drug application for inflammatory applications. In 2017, the Company entered into an exclusive license agreement with NanoCarrier Co., Ltd. (the “NanoCarrier License”) for the development, commercialization, and supply of VB-111 in Japan for all indications. Since inception, VBL has incurred significant losses, and it expects to continue to incur significant expenses and losses for at least the next several years. As of September 30, 2021, the Company had an accumulated deficit of $ 253.0 As of September 30, 2021, the Company had cash, cash equivalents, short-term bank deposits and restricted bank deposits of $ 50.8 million. Based on its current cash resources, VBL believes it will be sufficient to fund operating expenses and capital expenditure requirements into the fourth quarter of 2023. VBL may seek to raise more capital to pursue additional activities. VBL may seek these funds through a combination of private and public equity offerings, government grants, strategic collaborations and licensing arrangements. Additional financing may not be available when VBL needs it or may not be available on terms that are favorable to VBL. In September 2021, the Company established VBL Inc., a U.S. based subsidiary of VBL, and plans to begin U.S. operations from this entity beginning in the fourth quarter of 2021. |
BASIS OF PREPARATION OF THE FIN
BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS | NOTE 2 – BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements of VBL have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments (of a normal recurring nature) considered necessary for the fair statement of the results for the interim periods presented have been included. Operating results for the interim period are not necessarily indicative of the results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements in the Annual Report on Form 20-F for the year ended December 31, 2020, filed by VBL with the U.S. Securities and Exchange Commission (the “Commission”) on March 25, 2021. The comparative balance sheet at December 31, 2020 has been derived from the audited financial statements at that date. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES The accounting policies and calculation methods applied in the preparation of the condensed consolidated interim financial statements are consistent with those applied in the preparation of the annual financial statements as of December 31, 2020 and for the year then ended. Net Loss Per Share VBL complies with accounting and disclosure requirements of FASB ASC Topic 260, Earnings Per Share. Net loss per share of common stock is computed by dividing the net loss by the weighted average number of ordinary shares outstanding during the period. VBL applies the two-class method in calculating loss per share. Accretion associated with the ordinary shares subject to possible redemption is excluded from loss per ordinary share. Potentially dilutive securities have been excluded from VBL’s computation of net loss per share as such securities would have been anti-dilutive. There were 17,202,734 ordinary shares underlying outstanding options and warrants at September 30, 2021, and 22,021,422 ordinary shares underlying outstanding options and warrants at September 30, 2020. |
SHAREHOLDERS_ EQUITY
SHAREHOLDERS’ EQUITY | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
SHAREHOLDERS’ EQUITY | NOTE 4 – SHAREHOLDERS’ EQUITY Warrant Exercises During the nine months ended September 30, 2021, an aggregate of 4,893,838 warrants to purchase ordinary shares were exercised for cash. Accordingly, VBL issued 4,893,838 shares and received proceeds of $ 7.0 million. Shares and pre-funded warrants offering On April 9, 2021, the Company entered into a purchase agreement for the sale of 5,150,265 of its ordinary shares to certain investors at a price of $ 1.90 per ordinary share and pre-funded warrants to purchase 8,050,000 ordinary shares at price of $ 1.89 per pre-funded warrant with an exercise price of each pre-funded warrant equal to $ 0.01 per share. In addition, the underwriters exercised an option to purchase additional shares and purchased 1,751,525 additional ordinary shares. Net proceeds from the issuance and sale of 6,901,790 ordinary shares and 8,050,000 pre-funded warrants were approximately $ 26.4 million, after deducting the underwriting discounts and commissions and the estimated offering expenses. At-the-Market Offering (“ATM”) and Ordinary Share Purchase Agreement The Company previously entered into a $ 15 20 million of VBL’s ordinary shares, par value NIS 0.01 per share (the “Share Agreement”). The shares under the ATM may be sold from time to time and the shares sold pursuant to the Share Agreement may be sold from time to time until January 2024. During the nine months ended September 30, 2021, VBL sold an aggregate of 2,585,366 shares under the ATM and Share Agreement and received gross proceeds of approximately $ 6.3 million. The Company failed to file a prospectus supplement specifying details of the share sales under the ATM. This may have constituted a violation of Section 5 of the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may give rise to liability under Section 12 of the Securities Act (which generally provides a rescission remedy for offers and sales of securities in violation of Section 5) as well as potential liability under the anti-fraud provisions of federal and state securities laws and state rescission laws. In such event, anyone who acquired such ordinary shares would have a right to rescind the purchase. If all the shareholders who acquired ordinary shares demanded rescission, the maximum that VBL would be obligated to repay would be approximately $ 3.5 million, plus interest. Out of the approximately $ 3.5 million of sales, one identified buyer purchased approximately $ 1.9 million of its ordinary shares. Such identified buyer has agreed to waive any rescission rights and has signed a waiver evidencing such agreement. The Securities Act generally requires that any claim brought for a violation of Section 5 of the Securities Act be brought within one year of the violation. Additionally, if it is determined that such sales did in fact violate the Securities Act, VBL may become subject to fines and penalties imposed by the SEC and state securities agencies. Based on consultation with its counsel and management assessment, VBL did not recognize any provision related to this uncertainty. VBL analyzed the classification of the ordinary shares. Based on ASC 480-10-S99-3A(f), VBL determined that since the redemption obligation is outside of its control the ordinary shares are considered as ordinary shares subject to possible redemption, $ 1.6 |
REVENUE
REVENUE | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | NOTE 5 – REVENUE The revenues recognized for the period comprise revenues from the exclusive license agreement for the development, commercialization, and supply of VB-111 in Japan for all indications. The revenues are recognized according to ASC 606, “Revenues from Contracts with Customers.” VBL has identified two performance obligations in the NanoCarrier License: (1) Grant of the license and use of its IP; and (2) Company’s participation and consulting assistance services. In addition, there is a potential performance obligation regarding future manufacturing. During the nine months ended September 30, 2021, VBL recognized revenue of $ 0.6 million. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6- SUBSEQUENT EVENTS In October and November 2021, an aggregate of 6,630,159 6,630,159 9.6 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Net Loss Per Share | Net Loss Per Share VBL complies with accounting and disclosure requirements of FASB ASC Topic 260, Earnings Per Share. Net loss per share of common stock is computed by dividing the net loss by the weighted average number of ordinary shares outstanding during the period. VBL applies the two-class method in calculating loss per share. Accretion associated with the ordinary shares subject to possible redemption is excluded from loss per ordinary share. Potentially dilutive securities have been excluded from VBL’s computation of net loss per share as such securities would have been anti-dilutive. There were 17,202,734 ordinary shares underlying outstanding options and warrants at September 30, 2021, and 22,021,422 ordinary shares underlying outstanding options and warrants at September 30, 2020. |
GENERAL (Details Narrative)
GENERAL (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained Earnings (Accumulated Deficit) | $ (252,966) | $ (232,153) |
Cash, Cash Equivalents, and Short-term Investments | $ 50,800 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - shares | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Options And Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 17,202,734 | 22,021,422 |
SHAREHOLDERS_ EQUITY (Details N
SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | Apr. 09, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Proceeds from Issuance of Common Stock | $ 1,598 | |||
Stock Issued During Period, Value, New Issues | $ 16,972 | |||
Repayment of ordinary shares with interest | 3,500 | |||
Redeemable securities | 1,598 | |||
Identified Buyer [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Repayment of ordinary shares with interest | $ 1,900 | |||
NIS [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | ||
Purchase Agreement [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Sale of Stock, Number of Shares Issued in Transaction | 6,901,790 | |||
Sale of Stock, Consideration Received on Transaction | $ 26,400 | |||
Purchase Agreement [Member] | Investor [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 5,150,265 | |||
Share Price | $ 1.90 | |||
Purchase Agreement [Member] | Underwriters [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 1,751,525 | |||
Share Purchase Agreement [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock Issued During Period, Value, New Issues | $ 20,000 | |||
Share Purchase Agreement [Member] | At - The Market [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 2,585,366 | |||
Proceeds from Issuance of Common Stock | $ 6,300 | |||
Stock Issued During Period, Value, New Issues | $ 15,000 | |||
Share Purchase Agreement [Member] | NIS [Member] | At - The Market [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | |||
Warrant [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,893,838 | |||
Stock Issued During Period, Shares, New Issues | 4,893,838 | |||
Proceeds from Issuance of Common Stock | $ 7,000 | |||
Pre-funded Warrants [Member] | Purchase Agreement [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 8,050,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.89 | |||
Common Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | 12,014,008 | |||
Stock Issued During Period, Value, New Issues | $ 35 | |||
Common Stock [Member] | Purchase Agreement [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Common Stock, Par or Stated Value Per Share | $ 0.01 |
REVENUE (Details Narrative)
REVENUE (Details Narrative) $ in Millions | 9 Months Ended |
Sep. 30, 2021USD ($) | |
License [Member] | |
Disaggregation of Revenue [Line Items] | |
Contract with Customer, Liability, Revenue Recognized | $ 0.6 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] $ in Millions | 2 Months Ended |
Nov. 30, 2021USD ($)shares | |
Subsequent Event [Line Items] | |
Exercise of warrants | 6,630,159 |
Number of new stock issued | 6,630,159 |
Proceeds from issuance of warrants | $ | $ 9.6 |