DBV Technologies (DBVT) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Registrant Name	DBV Technologies S.A.
Entity Central Index Key	0001613780
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		54,936,687
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Address, Country	FR
Entity Small Business	true
Entity Incorporation, State or Country Code	I0
American Depositary Share [Member]
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing one-half of one ordinary share, nominal value €0.10 per share
Trading Symbol	dbvt
Security Exchange Name	NYSE
Ordinary Shares [Member]
Document Information [Line Items]
Title of 12(b) Security	Ordinary shares, nominal value €0.10 per share
No Trading Symbol Flag	true
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 152,459	$ 196,352
Trade receivables		2,230
Other current assets	7,349	8,792
Total current assets	159,809	207,375
Non-Current assets
Property, plant, and equipment, net	21,526	24,792
Right-of-use assets related to operating leases	9,168	10,104
Intangible assets	32	41
Other non-current assets	30,870	29,935
Total non-current assets	61,596	64,871
Total Assets	221,405	272,246
Current liabilities
Trade payables	17,176	20,338
Short-term operating lease	3,314	3,708
Short-term financial debt	701	724
Current contingencies	4,246	5,016
Other current liabilities	13,394	22,926
Total current liabilities	38,831	52,713
Non-Current liabilities
Long-term operating lease	9,533	10,496
Long-term financial debt	350	543
Non-current contingencies	2,229	2,527
Other non-current liabilities	1,286	475
Total non-current liabilities	13,398	14,042
Total Liabilities	52,229	66,754
Shareholders' equity
Ordinary shares, €0.10 par value; 54,936,687 and 54,929,187 shares authorized, and issued as at March 31, 2021 and December 31, 2020, respectively, and 4,100,663 and 4,029,763 shares outstanding as at March 31, 2021 and December 31, 2020, respectively	6,519	6,518
Additional paid-in capital	1,153,516	1,152,042
Treasury stock, 60,588 and 112,302 ordinary shares as of March 31, 2021 and December 31, 2020, respectively, at cost	(681)	(1,169)
Accumulated deficit	(987,992)	(958,543)
Accumulated other comprehensive income	399	484
Accumulated currency translation effect	(2,586)	6,158
Total Shareholders' equity	169,176	205,491
Total Liabilities and Shareholder's equity	$ 221,405	$ 272,246

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Position (Parenthetical) - € / shares	Mar. 31, 2021	Dec. 31, 2020
Treasury stock, common, shares	60,588	112,302
Common Shares [Member]
Common stock shares par value	€ 0.10	€ 0.10
Common stock shares authorized	54,936,687	54,929,187
Common stock shares issued	54,936,687	54,929,187
Common stock shares outstanding	4,100,663	4,029,763

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Operating income	$ 2,941	$ 4,720
Operating expenses
Research and development expenses	(22,164)	(27,532)
Sales and marketing expenses	(729)	(7,297)
General and administrative expenses	(9,683)	(11,113)
Total Operating expenses	(32,575)	(45,942)
Loss from operations	(29,634)	(41,222)
Other Income (expenses)
Financial income	215	309
Loss before taxes	(29,419)	(40,913)
Income tax	(30)
Net loss	(29,449)	(40,913)
Foreign currency translation differences, net of taxes	(8,744)	(6,064)
Actuarial (loss) gains on employee benefits, net of taxes	(85)	189
Comprehensive loss	$ (38,279)	$ (46,788)
Basic/diluted Net loss per share attributable to shareholders	$ (0.54)	$ (0.79)
Weighted average shares outstanding used in computing per share amounts:	54,880,776	51,802,524

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Cash Flows [Abstract]
Net loss for the period	$ (29,449)	$ (40,913)
Cash flows used in operating activities:
Depreciation, amortization and accrued contingencies	1,483	1,548
Retirement pension obligations		109
Expenses related to share-based payments	1,433	3,073
Other elements	(456)	419
Changes in operating assets and liabilities:
Decrease (increase) in inventories and work in progress		(2,402)
Decrease (increase) in trade receivables	2,101
Decrease (increase) in other current assets	(417)	122
(Decrease) increase in trade payables	(2,567)	(3,212)
(Decrease) increase in other current and non-current liabilities	(7,980)	(8,382)
Change in operating lease liabilities and right of use assets	(353)	(45)
Net cash flow used in operating activities	(36,204)	(49,683)
Cash flows used in investing activities :
Acquisitions of property, plant, and equipment, net from proceeds	(184)	(816)
Acquisitions of intangible assets		(114)
Acquisitions of non-current financial assets	(1)
Net cash flows used in investing activities	(185)	(930)
Cash flows provided by financing activities :
(Decrease) increase in conditional advances	(164)	7
Treasury shares	578	(412)
Capital increases, net of transaction costs	42	151,023
Other cash flows related to financing activities	(17)	(7)
Net cash flows provided by financing activities	440	150,611
Effect of exchange rate changes on cash and cash equivalents	(7,944)	(5,811)
Net (decrease) / increase in cash and cash equivalents	(43,893)	94,187
Net Cash and cash equivalents at the beginning of the period	196,352	193,255
Net cash and cash equivalents at the end of the period	$ 152,459	$ 287,442

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive income (loss) [Member]	Accumulated Currency Translation Effect [Member]
Beginning balance at Dec. 31, 2019	$ 193,186	$ 5,645	$ 1,003,595	$ (230)	$ (798,988)	$ 108	$ (16,945)
Beginning balance (Shares) at Dec. 31, 2019		47,028,510
Net (loss)	(40,913)				(40,913)
Other comprehensive income (loss)	(5,875)					189	(6,064)
Issuance of ordinary shares	151,023	$ 873	150,150
Issuance of ordinary shares (Shares)		7,898,677
Treasury shares	(832)			(832)
Share-based payments	3,073		3,073
Ending balance at Mar. 31, 2020	299,662	$ 6,518	1,156,818	(1,062)	(839,901)	297	(23,009)
Ending balance (Shares) at Mar. 31, 2020		54,927,187
Beginning balance at Dec. 31, 2020	205,491	$ 6,518	1,152,042	(1,169)	(958,543)	484	6,158
Beginning balance (Shares) at Dec. 31, 2020		54,929,187
Net (loss)	(29,449)				(29,449)
Other comprehensive income (loss)	(8,829)					(85)	(8,744)
Issuance of ordinary shares	42	$ 1	42
Issuance of ordinary shares (Shares)		7,500
Treasury shares	488			488
Share-based payments	1,433		1,433
Ending balance at Mar. 31, 2021	$ 169,176	$ 6,519	$ 1,153,516	$ (681)	$ (987,992)	$ 399	$ (2,586)
Ending balance (Shares) at Mar. 31, 2021		54,936,687

The Company

The Company	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
The Company	Note 1: The Company Incorporated in 2002 under the laws of France, DBV Technologies S.A. (“DBV Technologies,” or the “Company”, or the “group”) is a clinical-stage specialty biopharmaceutical company focused on changing the field of immunotherapy by developing a novel technology platform called Viaskin ™ ™ ™ Basis of Presentation The condensed consolidated financial statements of the Company and its wholly-owned subsidiaries are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and are presented in U.S. dollars. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated on consolidation. The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period. These interim financial results are not necessarily indicative of results to be expected for the full fiscal year ending December 31, 2021, or any other future period. Use of estimates The preparation of the Company’s condensed consolidated financial statements requires the use of estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of income and expenses during the period. The Company bases its estimates and assumptions on historical experience and other factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. The actual results may differ from these estimates. On an on-going right-of-use Going concern Since its inception, the Company has primarily funded its operations with equity financings, and, to a lesser extent, public assistance aimed at supporting innovation and payments associated with research tax credits ( Cr é dit d ’ Imp ô t Recherche Following receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) in connection with its Biologics License Application (“BLA”) for Viaskin ™ pre-clinical ™ ™ The Company intends to seek additional capital as it prepares for the launch of Viaskin Peanut, if approved, and continues other research and development efforts. The Company may seek to finance its future cash needs through a combination of public or private equity or debt financings, collaborations, license and development agreements and other forms of non-dilutive COVID-19 COVID-19 Accounting Pronouncements adopted in 2021 Effective January 1, 2021, the Company adopted ASU 2019-12, Income 2019-12 Accounting Pronouncements issued not yet adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13 2019-10 In January 2017, the FASB issued ASU 2017-04, Simplifying 2019-10 Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s Consolidated Financial Statements upon adoption.

Significant Events and Transact

Significant Events and Transactions	3 Months Ended
	Mar. 31, 2021
Significant Events And Transactions Disclosure [Abstract]
Significant Events and Transactions	Note 2: Significant Events and Transactions Clinical programs Viaskin TM Peanut for children ages 4-11 In January 2020, the Company announced positive topline results of the three-year, open-label extension of its Phase III PEPITES trial, or PEOPLE trial, evaluating the long-term efficacy and safety of investigational Viaskin Peanut in peanut-allergic children ages 4 to 11 years. The results demonstrated long-term clinical benefit as shown by an increase in eliciting dose (“ED”), which may decrease the chance of reacting to an accidental peanut exposure. After three years, the Company observed that 75.9% (107/141) of patients had increased their ED from baseline, and 51.8% (73/141) of patients reached an ED of at least 1,000 mg peanut protein by year three. The safety profile of Viaskin Peanut was consistent with that observed in the clinical program to date in over 1,000 patients. During the PEOPLE trial, the most common adverse events were mild to moderate skin reactions localized to the administration site, and there was no epinephrine use deemed related to treatment. No treatment related serious adverse events were reported. One patient experienced one case of mild anaphylaxis that was determined by the investigator to be possibly related to treatment and resolved without anti-anaphylactic treatment. Treatment compliance remained high throughout the study at a mean of 98% over three years of treatment. Low discontinuations due to adverse events were observed. In February 2020, the FDA announced an Allergenic Products Advisory Committee meeting to be held on May 15, 2020 to discuss the Biologics License Application (BLA) for Viaskin Peanut. On March 16, 2020, the Company announced that the FDA had informed us that during its ongoing review of the Company’s BLA for Viaskin Peanut, it had identified questions regarding efficacy, including the impact of patch-site adhesion. Therefore, the Advisory Committee meeting to discuss the BLA originally scheduled on May 15, 2020 was cancelled. On August 4, 2020, the Company announced that FDA has issued a Complete Response Letter in which the FDA indicated it could not approve the Viaskin Peanut BLA in its current form. The FDA identified concerns regarding the impact of patch-site adhesion on efficacy and indicated the need for patch modifications, and subsequently a new human factor study. The FDA also indicated that supplementary clinical data would need to be generated to support the modified patch. In addition, the FDA requested additional Chemistry, Manufacturing and Controls, or CMC, data. The FDA did not raise any safety concerns related to Viaskin Peanut. On January 13, 2021, the Company received written responses from the FDA to questions provided in the Type A meeting request the Company submitted in October 2020 following the CRL. The Company believes the FDA feedback provides a well-defined regulatory path forward. In exchanges with the FDA, the Company proposed potential resolutions to two main concerns identified by the FDA in the CRL: the impact of patch adhesion and the need for patch modifications. The FDA agreed with the Company’s position that a modified Viaskin Peanut patch should not be considered as a new product entity provided the occlusion chamber of the current Viaskin Peanut patch and the peanut protein dose of 250 µg (approximately 1/1000 one peanut) remains unchanged and performs in the same way it has performed previously. In order to confirm the consistency of efficacy data between the existing and modified patches, the FDA has requested an assessment comparing the uptake of allergen (peanut protein) between the patches in peanut allergic children ages 4 to 11 years. The FDA also recommended conducting a 6-month, On November 2, 2020, the Company announced that its Marketing Authorization Application, or MAA, for Viaskin Peanut had been validated by the European Medicines Agency, or EMA. The validation of the MAA confirmed that the submission was sufficiently complete to begin the formal review process for Viaskin Peanut to treat peanut allergies in children ages 4 to 11 years. The Company received the first set of questions from the EMA, during the first quarter of 2021, which were consistent with the Company’s expectations and prefiling conversations with the EMA. The Company did not receive questions about the impact of adhesion on efficacy. The EMA’s Committee for Medicinal Products for Human Use will provide a recommendation to the European Commission, or EC, on whether to grant a marketing authorization when its review of the Viaskin Peanut MAA is complete. Viaskin Peanut for children ages 1-3 On June 26, 2020, the Company announced that in Part A, patients in both treatment arms showed consistent treatment effects after 12 months of therapy, as assessed by a double-blind placebo-controlled food challenge and biomarker results. Part A subjects were not included in Part B and the efficacy analyses from Part A were not statistically powered to demonstrate superiority of either dose versus placebo. These results validate the ongoing investigation of the 250 m Financing On February 4, 2020, the Company announced the closing of an underwritten global offering of an aggregate of 7,500,000 ordinary shares in (i) a public offering of 4,535,581 ordinary shares in the form of 9,071,162 American Depositary Shares (“ADSs”) in the United States, Canada and certain countries outside Europe at a public offering price of $10.25 per ADS (on the basis of an exchange rate of $1.0999 = €1.00), and (ii) an offering exclusively addressed to qualified investors in Europe (including France) of 2,964,419 ordinary shares at an offering price of €18.63 per ordinary share (together, the “Global Offering”). On March 2, 2020, the Company announced that the underwriters partially exercised their option to purchase 338,687 additional ordinary shares in the form of 677,374 ADSs at an offering price of $10.25 per ADS, before deducting commissions and estimated offering expenses (the “Option”). The Option closed on March 4, 2020. Consequently, following partial exercise of the Option, the total number of ordinary shares sold in the global offering was 7,838,687 ordinary shares, including 4,874,268 ordinary shares in the form of 9,748,536 ADSs, bringing the total gross proceeds from the global offering to $160.7 million and net proceeds of $150.0 million. Restructuring The Company initiated a global restructuring plan in June 2020 to provide operational latitude to progress in the clinical development and regulatory review of investigational Viaskin Peanut in the United States and European Union. The Company expects full implementation of the organization-wide costs reduction measures to be completed by the second half of 2021. The following table summarizes restructuring activities as of March 31, 2021 included in current contingencies and other current liabilities in the statement of financial position: Restructuring liabilities Restructuring liability - January 1, 2021 9,387 Amounts paid (4,854 ) Other effect including currency translation effect (220 ) Restructuring liability - March 31, 2021 4,313 of which current contingencies 1,511 of which other current liabilities 2,803 COVID-19 On March 11, 2020, the World Health Organization declared COVID-19 The Company has assessed the impact of the uncertainties created by the pandemic. As of March 31, 2021, those uncertainties were taken into account in the assumptions underlying the estimates and judgments used by the Company. The Company continues to update these estimates and assumptions as the situation evolves. The effects of the COVID-19 Legal Proceedings A class action complaint was filed on January 15, 2019 in the United States District Court for the District of New Jersey, entitled Travis Ito-Stone 2:19-cv-00525. 10b-5 The Company believes that the allegations contained in the amended complaint are without merit and will defend the case vigorously.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Note 3: Cash and Cash Equivalents The following table presents for each reported period, the breakdown of cash and cash equivalents: March 31, December 31, 2021 2020 Cash 58,069 42,341 Cash equivalents 94,390 154,011 Total cash and cash equivalents as reported in the statements of financial position 152,459 196,352 Cash equivalents are immediately convertible into cash at no or insignificant cost, on demand. They are measured using level 1 fair value measurements.

Trade Payables and Other Curren

Trade Payables and Other Current Liabilities	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Trade Payables and Other Current Liabilities	Note 4: Trade Payables and Other Current Liabilities 4.1 Trade Payables No discounting was performed on the trade payables to the extent that the amounts did not present payment terms longer than one year at the end of each fiscal period presented. 4.2 Other Current Liabilities Other current liabilities consisted of the following: March 31, December 31, 2021 2020 Employee related liabilities 9,245 16,661 Deferred income 3,378 4,687 Tax liabilities 312 580 Other debts 460 999 Total 13,394 22,926 The other current liabilities include short-term debt to employees including employee termination allowance and benefits as part of the restructuring (refer to Note 2, “Significant Events and Transactions of the Period – Restructuring”), bonus accruals, and social welfare and tax agency obligations. Deferred income primarily includes deferred income from the collaboration agreement with Nestlé Health Science, which amounted to $3.4 million as of March 31, 2021.

Share-Based Payments

Share-Based Payments	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Payments	Note 5: Share-Based Payments The Board of Directors has been authorized by the General Meeting of the Shareholders to grant restricted stock units (“RSU”), stock options plan (“SO”), employee warrants ( Bons de Souscription de Parts de Créateur d’Entreprise Bons de Souscription d’Actions During the three months ended March 31, 2021, the Company granted 75,600 stock options and 24,900 restricted stock. There have been no changes in the vesting conditions and method of valuation of the SO and RSUs from that disclosed in Note 14 to the consolidated financial statements included in the Annual Report. Stock options fair value assumptions during the three months ended March 31, 2021 Weighted average share price at grant date in € 9.3 Weighted average expected volatility 90.9 % Weighted average risk-free interest rate (0.36 )% Weighted average expected term (in years) 6 Dividend yield — Weighted average fair value of stock-options in € 6.9 Change in Number of BSA/BCE/SO/RSU Number of outstanding BSA BCE SO RSUs Balance as of December 31, 2020 218,008 5,500 2,610,510 1,118,745 Granted during the period — — 75,600 24,900 Forfeited during the period — — (15,400 ) (13,700 ) Exercised/released during the period — (500 ) — — Expired during the period — — — — Balance as of March 31, 2021 218,008 5 000 2,670,710 1,129,945 Reconciliation of the share-based payments expenses with the consolidated statements of operations Three Months Ended March 31, 2021 2020 Research and development SO (376 ) (876 ) RSU (251 ) (392 ) Sales and marketing SO (49 ) (598 ) RSU (22 ) (2 ) General and administrative SO (644 ) (1,071 ) RSU (91 ) (133 ) Total share-based compensation expense (1,433 ) (3,073 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Loss Contingency [Abstract]
Contingencies	Note 6: Contingencies Current contingencies and non-current March 31, December 31, 2021 2020 Current contingencies 4,246 5,016 Non-current 2,229 2,527 Total contingencies 6,474 7,542 The table below shows movements in contingencies: Pension retirement obligations Collaboration agreement - Loss at completion Other contingencies Total At January 1, 2021 937 3,956 2,649 7,542 Increases in liabilities — — — — Used liabilities — (434 ) (515 ) (949 ) Reversals of unused liabilities — — — — Net interest related to employee benefits, and unwinding of discount — — — — Actuarial gains and losses on defined-benefit plans 85 — — 85 Other effects including currency translation effect (44 ) (164 ) 4 (204 ) At March 31, 2021 978 3,358 2,139 6,474 Of which current — 2,107 2,139 4,246 Of which non-current 978 1,251 — 2,229 In 2020 and during the first three months of 2021, the ongoing COVID-19 Other contingencies are primarily composed of the estimated expenses to be incurred as part of the employee-related costs related to restructuring, as well as estimated cost of refurbishing lease premises (Refer to Note 2, “Significant Events and Transactions—Restructuring contingencies). There have been no significant changes in assumptions for the estimation of the retirement commitments from those disclosed in Note 15 to the consolidated financial statements included in the Annual Report.

Operating Income

Operating Income	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Operating Income	Note 7: Operating income The operating income is broken down in the following manner: Three Months Ended March 31, 2021 2020 Research tax credit 1,807 2,902 Other operating income 1,133 1,818 Total 2,941 4,720 As of March 31, 2021, the Company recorded its collaboration contract’s income based on its updated measurement of progress of the Phase II clinical trial conducted as part of the collaboration and license agreement with Nestlé Health Science. The accrual recorded in the amount of the difference between the Company’s current best estimates of costs yet to be incurred and income yet to be recognized for the completion of the Phase II clinical trial has been updated accordingly.

Allocation of Personnel Expense

Allocation of Personnel Expenses	3 Months Ended
	Mar. 31, 2021
Operating Expenses [Abstract]
Allocation of Personnel Expenses	Note 8: Allocation of Personnel Expenses The Company had an average of 121 employees during the three months ended March 31, 2021, in comparison with an average of 311 employees during the three months ended March 31, 2020. Allocation of Personnel Expenses by Function: Three Months Ended March 31, 2021 2020 Research and development expenses 4,718 10,204 Sales and marketing expenses 518 4,197 General and administrative expenses 3,766 4,283 Total personnel expenses 9,002 18,684 Allocation of Personnel Expenses by Nature: Three months Ended March 31, 2021 2020 Wages and salaries 4,454 12,872 Social security contributions 1,332 663 Expenses for pension commitments 402 915 Employer contribution to bonus shares 1,381 1,162 Share-based payments 1,433 3,073 Total personnel expenses 9,002 18,684 The decrease in personnel expenses is mainly due to a decreased headcount as well as reductions in accrued bonuses, retention measures and share-based compensation expenses, partly as a result of the 2020 global restructuring plan.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments	Note 9: Commitments There have been no significant changes in other commitments from those disclosed in Note 19 to the consolidated financial statements included in the Annual Report.

Relationships with Related Part

Relationships with Related Parties	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Relationships with Related Parties	Note 10: Relationships with Related Parties There were no new significant related-party transactions during the period nor any change in the nature of the transactions from those described in Note 20 to the consolidated financial statements included in the Annual Report.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Loss Per Share	Note 11: Loss Per Share Basic loss per share is calculated by dividing the net loss attributable to the shareholders of the Company by the weighted average number of ordinary shares outstanding during the period. As the Company was in a loss position for each of the three months ended March 31, 2021 and 2020, the diluted loss per share is equal to basic loss per share because the effects of potentially dilutive shares were anti-dilutive as a result of the Company’s net loss. The following is a summary of the ordinary share equivalents that were excluded from the calculation of diluted net loss per share for each of the three months ended March 31, 2021 and 2020 indicated in number of potential shares: Three Months Ended March 31, 2021 2020 Non-employee 225,008 225,008 Employee warrants 75,000 82,500 Stock-options 2,670,710 2 835,635 Restricted stock units 1,129,945 696,895

Events After the Close of the F

Events After the Close of the Fiscal Year	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Events after the Close of the Fiscal Year	Note 12: Events after the Close of the Period The Company evaluated subsequent events that occurred after March 31, 2021, through the date the condensed consolidated financial statements were issued after their approval by the Board of Directors on April 30, 2021 and determined that there are no significant events that require adjustments or disclosure in such condensed consolidated financial statements.

The Company (Policies)

The Company (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of the Company and its wholly-owned subsidiaries are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and are presented in U.S. dollars. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated on consolidation. The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period. These interim financial results are not necessarily indicative of results to be expected for the full fiscal year ending December 31, 2021, or any other future period.
Use of estimates	Use of estimates The preparation of the Company’s condensed consolidated financial statements requires the use of estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of income and expenses during the period. The Company bases its estimates and assumptions on historical experience and other factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. The actual results may differ from these estimates. On an on-going right-of-use
Going concern	Going concern Since its inception, the Company has primarily funded its operations with equity financings, and, to a lesser extent, public assistance aimed at supporting innovation and payments associated with research tax credits ( Cr é dit d ’ Imp ô t Recherche Following receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) in connection with its Biologics License Application (“BLA”) for Viaskin ™ pre-clinical ™ ™ The Company intends to seek additional capital as it prepares for the launch of Viaskin Peanut, if approved, and continues other research and development efforts. The Company may seek to finance its future cash needs through a combination of public or private equity or debt financings, collaborations, license and development agreements and other forms of non-dilutive COVID-19 COVID-19
Accounting Pronouncements adopted in 2021	Accounting Pronouncements adopted in 2021 Effective January 1, 2021, the Company adopted ASU 2019-12, Income 2019-12
Accounting Pronouncements issued not yet adopted	Accounting Pronouncements issued not yet adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13 2019-10 In January 2017, the FASB issued ASU 2017-04, Simplifying 2019-10 Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s Consolidated Financial Statements upon adoption.

Significant Events and Transa_2

Significant Events and Transactions (Tables)	3 Months Ended
	Mar. 31, 2021
Significant Events And Transactions Disclosure [Abstract]
Summary of restructuring reserve	The following table summarizes restructuring activities as of March 31, 2021 included in current contingencies and other current liabilities in the statement of financial position: Restructuring liabilities Restructuring liability - January 1, 2021 9,387 Amounts paid (4,854 ) Other effect including currency translation effect (220 ) Restructuring liability - March 31, 2021 4,313 of which current contingencies 1,511 of which other current liabilities 2,803

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Summary of breakdown of cash and cash equivalents	The following table presents for each reported period, the breakdown of cash and cash equivalents: March 31, December 31, 2021 2020 Cash 58,069 42,341 Cash equivalents 94,390 154,011 Total cash and cash equivalents as reported in the statements of financial position 152,459 196,352

Trade Payables and Other Curr_2

Trade Payables and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities, Current [Abstract]
Summary of Other Current Liabilities	Other current liabilities consisted of the following: March 31, December 31, 2021 2020 Employee related liabilities 9,245 16,661 Deferred income 3,378 4,687 Tax liabilities 312 580 Other debts 460 999 Total 13,394 22,926

Share-Based Payments (Tables)

Share-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2021
Summary of Stock Options Valuation Assumptions	There have been no changes in the vesting conditions and method of valuation of the SO and RSUs from that disclosed in Note 14 to the consolidated financial statements included in the Annual Report. Stock options fair value assumptions during the three months ended March 31, 2021 Weighted average share price at grant date in € 9.3 Weighted average expected volatility 90.9 % Weighted average risk-free interest rate (0.36 )% Weighted average expected term (in years) 6 Dividend yield — Weighted average fair value of stock-options in € 6.9
Summary of RSU Activity	Change in Number of BSA/BCE/SO/RSU Number of outstanding BSA BCE SO RSUs Balance as of December 31, 2020 218,008 5,500 2,610,510 1,118,745 Granted during the period — — 75,600 24,900 Forfeited during the period — — (15,400 ) (13,700 ) Exercised/released during the period — (500 ) — — Expired during the period — — — — Balance as of March 31, 2021 218,008 5 000 2,670,710 1,129,945
Summary of Share-Based Payments Expenses	Reconciliation of the share-based payments expenses with the consolidated statements of operations Three Months Ended March 31, 2021 2020 Research and development SO (376 ) (876 ) RSU (251 ) (392 ) Sales and marketing SO (49 ) (598 ) RSU (22 ) (2 ) General and administrative SO (644 ) (1,071 ) RSU (91 ) (133 ) Total share-based compensation expense (1,433 ) (3,073 )

Contingencies (Tables)

Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Loss Contingency [Abstract]
Summary of Current Contingencies and Non-current Contingencies	Current contingencies and non-current March 31, December 31, 2021 2020 Current contingencies 4,246 5,016 Non-current 2,229 2,527 Total contingencies 6,474 7,542
Summary of Movement in Provisions	The table below shows movements in contingencies: Pension retirement obligations Collaboration agreement - Loss at completion Other contingencies Total At January 1, 2021 937 3,956 2,649 7,542 Increases in liabilities — — — — Used liabilities — (434 ) (515 ) (949 ) Reversals of unused liabilities — — — — Net interest related to employee benefits, and unwinding of discount — — — — Actuarial gains and losses on defined-benefit plans 85 — — 85 Other effects including currency translation effect (44 ) (164 ) 4 (204 ) At March 31, 2021 978 3,358 2,139 6,474 Of which current — 2,107 2,139 4,246 Of which non-current 978 1,251 — 2,229

Operating Income (Tables)

Operating Income (Tables)	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
Schedule of operating income	The operating income is broken down in the following manner: Three Months Ended March 31, 2021 2020 Research tax credit 1,807 2,902 Other operating income 1,133 1,818 Total 2,941 4,720

Allocation of Personnel Expen_2

Allocation of Personnel Expenses (Tables)	3 Months Ended
	Mar. 31, 2021
Operating Expenses [Abstract]
Summary of Allocation of Personnel Expenses By Function	Allocation of Personnel Expenses by Function: Three Months Ended March 31, 2021 2020 Research and development expenses 4,718 10,204 Sales and marketing expenses 518 4,197 General and administrative expenses 3,766 4,283 Total personnel expenses 9,002 18,684
Summary of Allocation of Personnel Expenses By Nature	Allocation of Personnel Expenses by Nature: Three months Ended March 31, 2021 2020 Wages and salaries 4,454 12,872 Social security contributions 1,332 663 Expenses for pension commitments 402 915 Employer contribution to bonus shares 1,381 1,162 Share-based payments 1,433 3,073 Total personnel expenses 9,002 18,684

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following is a summary of the ordinary share equivalents that were excluded from the calculation of diluted net loss per share for each of the three months ended March 31, 2021 and 2020 indicated in number of potential shares: Three Months Ended March 31, 2021 2020 Non-employee 225,008 225,008 Employee warrants 75,000 82,500 Stock-options 2,670,710 2 835,635 Restricted stock units 1,129,945 696,895

The Company - Additional Inform

The Company - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Subsidiary or Equity Method Investee [Line Items]
Cash and cash equivalents	$ 152,459	$ 196,352	$ 287,442	$ 193,255

Significant Events and Transa_3

Significant Events and Transactions - Additional Information (Detail) $ / shares in Units, $ in Thousands	Mar. 02, 2020$ / sharesshares	Feb. 04, 2020€ / sharesshares	Jan. 31, 2020patients	Mar. 31, 2021USD ($)patientsshares	Mar. 31, 2020USD ($)	Feb. 04, 2020$ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio		1.0999
Proceeds From Issuance Of Common Stock | $				$ 150,000
Stock issued during the period, Value | $				$ 42	$ 151,023
Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues				7,838,687
Public Offering [member] | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues		7,500,000		4,874,268
Public Offering [member] | American Depositary Shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues				9,748,536
Public Offering [member] | Outside Europe [Member] | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues		4,535,581
Public Offering [member] | Outside Europe [Member] | American Depositary Shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues		9,071,162
Shares Issued, Price Per Share | $ / shares						$ 10.25
Over-Allotment Option | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues	338,687
Over-Allotment Option | American Depositary Shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock Issued During Period, Shares, New Issues	677,374
Shares Issued, Price Per Share | $ / shares	$ 10.25
Global Offering [member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Stock issued during the period, Value | $				$ 160,700
Private Placement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares Issued, Price Per Share | € / shares		€ 18.63
Stock Issued During Period, Shares, Issued for Services		2,964,419
ViaskinTM Clinical Program For Children Aged Between Four to Eleven [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage Of Patients Increased ED From Baseline			75.90%
Number Of Patients Increased ED From Baseline | patients				107
Number Of Patients | patients				141
Percentage Of Patients Increased ED Of Minimum Thousand Milligram Peanut Protein By Three Year			51.80%	73.00%
Number Of Patients Observed For Safety Profile Till Date | patients			1,000
Treatment Compliance Percentage			98.00%
Clinical Program Trial Period			6 months
Minimum | ViaskinTM Clinical Program For Children Aged Between Four to Eleven [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Age Of Child			4 years
Maximum | ViaskinTM Clinical Program For Children Aged Between Four to Eleven [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Age Of Child			11 years

Significant Events and Transa_4

Significant Events and Transactions - Summary of restructuring reserve (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Summary of restructuring reserve
Restructuring liability - January 1, 2021	$ 9,387
Amounts paid	(4,854)
Other effect including currency translation effect	(220)
Restructuring liability - March 31, 2021	4,313
of which current contingencies	1,511
of which other current liabilities	$ 2,803

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary of breakdown of cash and cash equivalents (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash	$ 58,069	$ 42,341
Cash equivalents	94,390	154,011
Total cash and cash equivalent as reported in statement of financial position	$ 152,459	$ 196,352	$ 287,442	$ 193,255

Trade Payables and Other Curr_3

Trade Payables and Other Current Liabilities - Additional Information (Detail) € in Millions	Mar. 31, 2021EUR (€)
Nestl Health Science [Member]
Deferred revenues	€ 3.4

Trade Payables and Other Curr_4

Trade Payables and Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other current liabilities	$ 13,394	$ 22,926
Employee related liabilities [Member]
Other current liabilities	9,245	16,661
Deferred income [Member]
Other current liabilities	3,378	4,687
Tax Liabilities [Member]
Other current liabilities	312	580
Other Debts [Member]
Other current liabilities	$ 460	$ 999

Share-Based Payments - Summary

Share-Based Payments - Summary of Stock Options Valuation Assumptions (Detail)	3 Months Ended
	Mar. 31, 2021€ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield
Weighted Average [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price at grant date in €	€ 9.3
Weighted average expected volatility	90.90%
Weighted average risk-free interest rate	(0.36%)
Weighted average expected term (in years)	6 years
Weighted average fair value of stock-options in €	€ 6.9

Share-Based Payments - Summar_2

Share-Based Payments - Summary of RSU Activity (Detail)	3 Months Ended
	Mar. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options outstanding, Beginning Balance	2,610,510
Number of stock options outstanding, Granted during the period	75,600
Number of stock options outstanding, Forfeited during the period	(15,400)
Number of stock options outstanding, Ending Balance	2,670,710
BSA Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants outstanding, Beginning Balance	218,008
Number of warrants outstanding, Exercised/released during the period	0
Number of warrants outstanding, Ending Balance	218,008
BCE Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of warrants outstanding, Beginning Balance	5,500
Number of warrants outstanding, Exercised/released during the period	(500)
Number of warrants outstanding, Ending Balance	5,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU outstanding, Beginning Balance	1,118,745
Number of RSU outstanding, Granted during the period	24,900
Number of RSU outstanding, Forfeited during the period	(13,700)
Number of RSU outstanding, Ending Balance	1,129,945

Share-Based Payments - Summar_3

Share-Based Payments - Summary of Share-Based Payments Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	$ (1,433)	$ (3,073)
Research and Development expenses [Member] | Employee Stock Option Member
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	(376)	(876)
Research and Development expenses [Member] | Restricted Stock Units [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	(251)	(392)
Sales and Marketing expenses [Member] | Employee Stock Option Member
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	(49)	(598)
Sales and Marketing expenses [Member] | Restricted Stock Units [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	(22)	(2)
General and Administrative expenses [Member] | Employee Stock Option Member
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	(644)	(1,071)
General and Administrative expenses [Member] | Restricted Stock Units [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payments	$ (91)	$ (133)

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021shares
Share-Based Payments [Line iteam]
Number of stock options outstanding, Granted during the period	75,600
Share options [Member] | Employees [Member]
Share-Based Payments [Line iteam]
Number of stock options outstanding, Granted during the period	75,600
Restricted Stock Units [Member]
Share-Based Payments [Line iteam]
Number of RSU outstanding, Granted during the period	24,900
Restricted Stock Units [Member] | Employees [Member]
Share-Based Payments [Line iteam]
Number of RSU outstanding, Granted during the period	24,900

Contingencies - Summary of Curr

Contingencies - Summary of Current Contingencies and Non-current Contingencies (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Liability, Defined Benefit Plan [Abstract]
Current contingencies	$ 4,246	$ 5,016
Non-current contingencies	2,229	2,527
Total contingencies	$ 6,474	$ 7,542

Contingencies - Summary of Move

Contingencies - Summary of Movement in Contingencies (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Contingencies, Beginning balance	$ 7,542
Increases in liabilities	0
Used liabilities	(949)
Reversals of unused liabilities	0
Net interest related to employee benefits, and unwinding of discount	0
Actuarial gains and losses on defined-benefit plans	85
Other effects including currency translation effect	(204)
Contingencies, Ending balance	6,474
Of which current	4,246	$ 5,016
Of which non-current	2,229	$ 2,527
Pension retirement obligations [Member]
Contingencies, Beginning balance	937
Actuarial gains and losses on defined-benefit plans	85
Other effects including currency translation effect	(44)
Contingencies, Ending balance	978
Of which non-current	978
Collaboration agreement -Loss at completion [Member]
Contingencies, Beginning balance	3,956
Used liabilities	(434)
Other effects including currency translation effect	(164)
Contingencies, Ending balance	3,358
Of which current	2,107
Of which non-current	1,251
Other provisions incl. restructuring [Member]
Contingencies, Beginning balance	2,649
Increases in liabilities	0
Used liabilities	(515)
Other effects including currency translation effect	4
Contingencies, Ending balance	2,139
Of which current	$ 2,139

Operating Income - Summary of O

Operating Income - Summary of Operating Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Income and Expenses [Abstract]
Research Tax Credit	$ 1,807	$ 2,902
Other Operating income	1,133	1,818
Total	$ 2,941	$ 4,720

Allocation of Personnel Expen_3

Allocation of Personnel Expenses - Summary of Allocation of Personnel Expenses By Function (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Research and development expenses	$ 22,164	$ 27,532
Sales and marketing expenses	729	7,297
General and administrative expenses	9,683	11,113
Total Operating expenses	32,575	45,942
Expenses by Function [Member]
Research and development expenses	4,718	10,204
Sales and marketing expenses	518	4,197
General and administrative expenses	3,766	4,283
Total Operating expenses	$ 9,002	$ 18,684

Allocation of Personnel Expen_4

Allocation of Personnel Expenses -Summary of Allocation of Personnel Expenses By Nature (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based payments	$ (1,433)	$ (3,073)
Total Operating expenses	32,575	45,942
Expenses by Nature [Member]
Wages and salaries	4,454	12,872
Social security contributions	1,332	663
Expenses for pension commitments	402	915
Employer contribution to bonus shares	1,381	1,162
Share-based payments	1,433	3,073
Total Operating expenses	$ 9,002	$ 18,684

Commitments - Additional Inform

Commitments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)
Disclosure Of Commitments [Line Items]
Increase (decrease) in other commitments during the period	$ 0

Relationships with Related Pa_2

Relationships with Related Parties - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Related Party Transactions [Abstract]
Increase decrease in related party transactions and changes in nature of the transactions	$ 0

Loss Per Share - Summary of the

Loss Per Share - Summary of the Common Stock Equivalents Which Were Excluded From the Calculation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Non-employee warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	225,008,000	225,008,000
Employee warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	75,000,000	82,500,000
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,670,710,000	2,835,635,000
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,129,945,000	696,895,000