Cover Page
Cover Page - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2020 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | DBV TECHNOLOGIES S.A. | ||
Entity Central Index Key | 0001613780 | ||
Entity File Number | 001-36697 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding | 94,137,145 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Address, Country | FR | ||
Entity Small Business | true | ||
ICFR Auditor Attestation Flag | false | ||
Entity Public Float | $ 324,020 | ||
Entity Incorporation, State or Country Code | I0 | ||
Entity Address, Address Line One | 177-181 avenue Pierre Brossolette | ||
Entity Address, City or Town | Montrouge | ||
Entity Address, Postal Zip Code | 92120 | ||
City Area Code | 33 | ||
Local Phone Number | 1 55 42 78 78 | ||
Entity Tax Identification Number | 00-0000000 | ||
Auditor Name | KPMG S.A. | Deloitte & Associés | |
Auditor Firm ID | 1253 | 1756 | |
Auditor Location | Paris-La Défense, France | Paris-La Défense, France | |
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 | NASDAQ | ||
Ordinary Shares [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Ordinary shares, nominal value €0.10 per share | ||
Security Exchange Name | NASDAQ | ||
No Trading Symbol Flag | true |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 209,194 | $ 77,301 |
Trade receivables | 0 | 0 |
Other current assets | 13,880 | 37,085 |
Total current assets | 223,074 | 114,386 |
Non-Current assets | ||
Property, plant, and equipment, net | 15,096 | 18,146 |
Right-of-use assets related to operating leases | 2,513 | 7,336 |
Intangible assets | 10 | 22 |
Other non-current assets | 5,824 | 6,833 |
Total non-current assets | 23,444 | 32,338 |
Total Assets | 246,518 | 146,723 |
Current liabilities | ||
Trade payables | 14,473 | 11,429 |
Short-term operating lease | 1,894 | 3,003 |
Short-term financial debt | 0 | 510 |
Current contingencies | 3,944 | 4,095 |
Other current liabilities | 9,210 | 12,361 |
Total current liabilities | 29,521 | 31,397 |
Non-Current liabilities | ||
Long-term operating lease | 1,127 | 7,147 |
Long-term financial debt | 0 | 0 |
Non-current contingencies | 16,680 | 6,758 |
Other non-current liabilities | 4,735 | 2,147 |
Total non-current liabilities | 22,543 | 16,052 |
Total liabilities | 52,064 | 47,449 |
Shareholders' equity: | ||
Ordinary shares, €0.10 par value; 94,137,145 and 55,095,762 shares authorized, and issued as at December 31, 2022 and 2021, respectively | 10,720 | 6,538 |
Additional paid-in capital | 458,221 | 358,115 |
Treasury stock, 149,793 and 153,631 ordinary shares as of December 31, 2022 and 2021, respectively, at cost | (1,109) | (1,232) |
Accumulated deficit | (259,578) | (258,528) |
Accumulated other comprehensive income | 781 | 519 |
Accumulated currency translation effect | (14,581) | (6,137) |
Total shareholders' equity | 194,453 | 99,274 |
Total liabilities and shareholders' equity | $ 246,518 | $ 146,723 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - € / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Treasury stock, common, shares | 149,793 | 153,631 |
Common Shares [Member] | ||
Common stock shares par value | € 0.1 | € 0.1 |
Common stock shares authorized | 94,137,145 | 55,095,762 |
Common stock shares issued | 94,137,145 | 55,095,762 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating income | $ 4,844 | $ 5,708 |
Operating expenses | ||
Research and development expenses | (75,543) | (70,336) |
Sales & marketing expenses | (1,608) | (4,387) |
General & administrative expenses | (24,324) | (30,520) |
Restructuring reversal (expenses) | 0 | 920 |
Total Operating expenses | (101,475) | (104,323) |
Loss from operations | (96,631) | (98,614) |
Financial income (expenses) | 427 | 425 |
Loss before taxes | (96,204) | (98,189) |
Income tax | (70) | 381 |
Net loss | (96,274) | (97,809) |
Foreign currency translation differences, net of taxes | (8,429) | (12,296) |
Actuarial gains on employee benefits, net of taxes | 262 | 35 |
Total comprehensive loss | $ (104,441) | $ (110,070) |
Basic Net loss per share attributable to shareholders | $ (1.24) | $ (1.78) |
Weighted average number of shares outstanding used in computing per share amounts: | 77,384,133 | 54,916,937 |
Diluted Net loss per share attributable to shareholders | $ (1.24) | $ (1.78) |
Weighted average number of shares outstanding used in computing per share amounts: | 77,384,133 | 54,916,937 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Cash Flows [Abstract] | ||
Net loss for the period | $ (96,274) | $ (97,809) |
Cash flows used in operating activities: | ||
Depreciation, amortization and accrued contingencies | 13,162 | 8,376 |
Retirement pension obligations | 105 | 184 |
Expenses related to share-based payments | 5,026 | 3,122 |
Other elements | (7) | 656 |
Changes in operating assets and liabilities: | ||
Decrease (increase) in inventories and work in progress | 0 | 0 |
Decrease (increase) in trade receivables | 0 | 2,150 |
Decrease (increase) in other current assets | 20,961 | (8,578) |
(Decrease) increase in trade payables | 3,456 | (7,559) |
(Decrease) increase in other current and non-current liabilities | 152 | (7,599) |
Change in operating lease liabilities and right of use assets | (2,249) | (1,185) |
Net cash flow used in operating activities | (55,666) | (108,242) |
Cash flows used in investing activities: | ||
Acquisitions of property, plant, and equipment | (754) | (910) |
Proceeds from property, plant, and equipment dispositions | 8 | 604 |
Acquisitions of intangible assets | 0 | (8) |
Acquisitions of non-current financial assets | (123) | (119) |
Proceeds from non-current financial assets dispositions | 770 | 0 |
Net cash flows used in investing activities | (100) | (433) |
Cash flows provided by financing activities: | ||
(Decrease) increase in conditional advances | (474) | (689) |
Treasury shares | 123 | 184 |
Capital increases, net of transaction costs | 194,471 | 794 |
Other cash flows related to financing activities | 0 | (15) |
Net cash flows provided by financing activities | 194,120 | 274 |
Effect of exchange rate changes on cash and cash equivalents | (6,461) | (10,651) |
Net (decrease) / increase in cash and cash equivalents | 131,893 | (119,051) |
Net Cash and cash equivalents at the beginning of the period | 77,301 | 196,352 |
Net cash and cash equivalents at the end of the period | $ 209,194 | $ 77,301 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity $ in Thousands | USD ($) | EUR (€) | Common Shares [Member] USD ($) shares | Additional Paid-in Capital [Member] USD ($) | Treasury Stock [Member] USD ($) | Accumulated Deficit USD ($) | Accumulated Other Comprehensive income (loss) [Member] USD ($) | Accumulated Currency Translation Effect [Member] USD ($) |
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 | shares | 54,929,187 | |||||||
Net (loss) | (97,809) | (97,809) | ||||||
Other comprehensive (loss) | (12,261) | 35 | (12,296) | |||||
Issuance of ordinary shares | 515 | $ 20 | 496 | |||||
Issuance of ordinary shares (Shares) | shares | 166,575 | |||||||
Issuance of share warrants | 279 | 279 | ||||||
Treasury shares | (63) | (63) | ||||||
Share-based payments (income) expenses | 3,122 | 3,122 | ||||||
Allocation of accumulated net losses | (797,823) | 797,823 | ||||||
Ending balance at Dec. 31, 2021 | 99,274 | $ 6,538 | 358,115 | (1,232) | (258,528) | 519 | (6,137) | |
Ending balance (Shares) at Dec. 31, 2021 | shares | 55,095,762 | |||||||
Net (loss) | (96,274) | (96,274) | ||||||
Other comprehensive (loss) | (8,167) | 262 | (8,429) | |||||
Issuance of ordinary shares | 106,377 | € 3,285,566.9 | $ 4,182 | 102,194 | ||||
Issuance of ordinary shares (Shares) | shares | 39,041,383 | |||||||
Issuance of share warrants | 88,094 | 88,094 | ||||||
Treasury shares | 123 | 123 | ||||||
Share-based payments (income) expenses | 5,026 | € 95,281,440.1 | 5,026 | |||||
Allocation of accumulated net losses | (95,209) | 95,209 | ||||||
Other change in equity | 15 | (15) | ||||||
Ending balance at Dec. 31, 2022 | $ 194,453 | $ 10,720 | $ 458,221 | $ (1,109) | $ (259,578) | $ 781 | $ (14,581) | |
Ending balance (Shares) at Dec. 31, 2022 | shares | 94,137,145 |
Nature of the Business and Prin
Nature of the Business and Principles and Accounting Methods | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Nature of the Business and Principles and Accounting Methods | Note 1: Nature of the business and principles and accounting methods Incorporated in 2002 under the laws of France, DBV Technologies S.A. (“DBV Technologies,” or the “Company”, or “we”, 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 ™ TM ™ Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”) and presented in thousands of U.S. Dollars, except for share and per share data and as otherwise noted. Any reference in these notes to applicable guidance is meant to refer to authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). We also follow the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The Consolidated Financial Statements have been prepared assuming the Company will continue as a going concern and using the historical cost principle with the exception of certain assets and liabilities that are measured at fair value in accordance with U.S. GAAP. The categories concerned are detailed in the following notes. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated. The following list presents all entities included in the consolidation scope for the years ended December 31, 2021 and 2022, as well as their country of incorporation and the percentage of ownership interests: • DBV Technologies Inc. was incorporated in Delaware on April 7, 2014 (the “US subsidiary”). The share capital of this US subsidiary is 100% owned by DBV Technologies S.A. • DBV Australia Pty Ltd. was incorporated in New South Wales, Australia on July 3, 2018 (the “Australian subsidiary”). The share capital of this Australian subsidiary is 100% owned by DBV Technologies S.A. (“DBV Technologies”). • DBV Pharma was incorporated in Paris on December 21, 2018 (the “French subsidiary”). The share capital of this French subsidiary is 100% owned by DBV Technologies S.A. On December 31, 2021, the company proceeded to the dissolution of DBV Canada Ltd. This subsidiary was originally incorporated in Ottawa, Ontario on August 13, 2018 (the “Canadian subsidiary”). The share capital of this Canadian subsidiary was 100% owned by DBV Technologies S.A. Functional Currency and Translation of Financial Statements in Foreign Currency The Consolidated Financial Statements are presented in U.S. dollars, which differs from the functional currency of the Company, being the Euro. The statements of financial position of consolidated entities having a functional currency different from the presentation currency are translated at the closing exchange rate (spot exchange rate at the statement of financial position date) and the statements of operations, statements of comprehensive loss and statements of cash flow of such consolidated entities are translated at the weighted average exchange rate. The resulting translation adjustments are included in equity under the caption “Accumulated other comprehensive income (loss)” in the Consolidated Statements of Changes in Shareholders’ Equity. Conversion of Foreign Currency Transactions Foreign currency transactions are converted to functional currency of the entity at the rate of exchange applicable on the transaction date. At period-end, Use of estimates The preparation of the Company’s 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. As of December 31, 2022, the ongoing pandemic may make management’s estimates vulnerable to significant changes. Those uncertainties were considered in the assumptions underlying the estimates and judgments used by the Company but a number of estimates have been and will continue to be affected by the ongoing pandemic. 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 right-of-use Going concern These Consolidated Financial Statements have been prepared assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. 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 (Crédit d’Impôt Recherche). The Company does not generate product revenue and continues to prepare for the potential launch of its first product in the United States and in the European Union, if approved. Following receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) in connection with its BLA for Viaskin ™ pre-clinical ™ ™ In January 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. In order to respond to the FDA’s requests and recommendations, the Company defined parallel workstreams primarily in order to generate the 6-month Following the submission of the adhesion study’s protocol to the FDA, the Company received an Advice/Information Request letter from the FDA in October 2021, requesting a stepwise approach to the modified Viaskin patch development program and provided partial feedback on this protocol. In December 2021, the Company decided not to pursue the sequential approach to the development plans for Viaskin Peanut as requested by the FDA in the October 2021 feedback and announced its plan to initiate a pivotal Phase 3 clinical study for a modified Viaskin Peanut patch (mVP) in children in the intended patient population. The Company considers this approach as the most straightforward approach to demonstrate effectiveness, safety, and improved in vivo adhesion of the modified Viaskin Peanut system. After receiving approval from the FDA for its change in strategy, the protocol for the new Phase 3 pivotal study of the modified Viaskin Peanut (“mVP”) patch was completed at the end of February 2022 and has been prepared for FDA submission. In May 2022, the Company established an At-The-Market million of American Depositary Shares (“ADSs”). The Company’s intent is to use the net proceeds, if any, of sales of ADSs issued under the program, together with its existing cash and cash equivalents, primarily for activities associated with potential approval and launch of Viaskin Peanut, as well as to advance the development of the Company’s product candidates using its Viaskin Platform and for working capital and other general corporate purposes. In June 2022, the Company announced that its pivotal Phase 3 trial EPITOPE, assessing the safety and efficacy of Viaskin Peanut treatment of peanut-allergic toddlers ages 1 to 3 years, met its primary endpoint, with a statistically significant treatment effect. The Company also indicated continuing productive dialogue with the FDA on the protocol design of VITESSE, a pivotal Phase 3 trial of the modified Viaskin Peanut patch in peanut-allergic children ages 4 to 7 years. During the same month, the Company announced private placement financing (“PIPE”) amounting to $194 million. In September 2022, after announcing initiating, the Company received a partial clinical hold letter from the FDA on its VITESSE Phase 3 clinical study. Within the FDA’s communication, the modifications address design elements, including the statistical analysis of adhesion, minimum daily wear time and technical alignments in methods of categorizing data, to meet study objectives as well as the total number of trial participants on active treatment. In December 2022, the Company received confirmation from the FDA that it lifted the partial clinical hold on its VITESSE Phase 3 clinical study. The Company indicated the updated protocol will be submitted to study sites for subsequent Institutional Review Boards and Ethics Committees approval. Based on its current operations, plans and assumptions as revised pursuant to 2022 announcements related to EPITOPE P P 2 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 The Company cannot guarantee that it will be able to obtain the necessary financing to meet its needs or to obtain funds at attractive terms and conditions, including as a result of disruptions to the global financial markets due to the ongoing COVID-19 COVID-19 If the Company is not successful in its financing objectives, the Company could have to scale back its operations, notably by delaying or reducing the scope of its research and development efforts or obtain financing through arrangements with collaborators or others that may require the Company to relinquish rights to its product candidates that the Company might otherwise seek to develop or commercialize independently. These Consolidated Financial Statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. Intangible Assets Acquired intangible assets are accounted for at acquisition cost less accumulated amortization. Acquired intangible assets are mainly composed of software amortized on a straight-line basis over their estimated useful lives comprised between one Property, Plant, and Equipment Property, plant, and equipment are recorded at their acquisition cost. Property, plant, and equipment are depreciated on a straight-line method over the estimated useful lives of the property. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining lease term. Depreciation is calculated on a straight-line basis over the assets’ estimated useful lives as follows: PROPERTY, PLANT, AND EQUIPMENT ITEM PERIOD DEPRECIATION Laboratory equipment and technical facilities 3 to 10 years Building fixtures and leasehold improvements 5 to 9 years Office equipment and furniture 5 years Computer equipment 3 years Impairment of assets The Company periodically reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or the estimated useful life is no longer appropriate. If indicators of impairment exist and the recoverable value of the asset on an undiscounted cash flow basis is less than the carrying amount, an impairment loss is recorded to the extent the carrying amount exceeds its fair value. Lease contracts The Company determines whether an arrangement is a lease at contract inception by establishing if the contract conveys the right to use, or control the use of, identified property, plant, or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate leases, leases for industrial equipment and leases for office equipment. The Company’s real estate leases typically include options and features including rent free periods, rent escalation periods, renewal options and early termination options. The lease term is defined contract-by-contract non-cancelable The Company recognizes operating lease liabilities based on the present value of the future minimum lease payments over the lease term at commencement date. The Company does not recognize a lease liability or right of use asset for leases with a term of 12 months or less. Operating lease right of use assets are presented as operating lease right of use assets on the consolidated balance sheet. To date, the Company has recognized a single lease cost under which the operating lease right of use and liability are amortized on a straight-line basis over the lease term, and categorized within Operating Expense in the Consolidated Statement of Operations. The operating lease cash flows are categorized under Net Cash Used in Operating Activities in the Consolidated Statement of Cash Flows. Variable costs are expensed in the period incurred. Since the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rates based on the information available at commencement date in determining the discount rate used to calculate the present value of lease payments. As the Company has no external borrowings, the incremental borrowing rates are determined using information on indicative borrowing rates that would be available to the Company based on the value, currency and borrowing term provided by financial institutions, adjusted for company and market specific factors. Inventories and Work in Progress Inventories are measured at the lower of cost or net realizable value at production costs calculated using the first-in, first-out Inventories are exclusively composed of work in progress relating to the production of the first batches that may be used for the commercialization. During the launch phase of a new product, any inventories of that product are written down to zero pending regulatory approval. Financial Assets and Liabilities Financial assets, excluding cash and cash equivalents, consist exclusively of other receivables. Other receivables are non-derivative The Company also receives from time-to-time The amount resulting from the deemed benefit of the interest-free nature of the award is considered a subsidy for accounting purposes. This deemed benefit is determined by applying a discount rate equal to the rate of fungible treasury bonds over the time period that corresponds to the time period of the repayment of the advances. In the event of a change in payment schedule of the stipulated repayments of the conditional advances, the Company makes a new calculation of the net book value of the debt resulting from the discounting of the expected new future cash flows. The adjustment that results therefrom is recognized in the income statement for the fiscal year during which the modification is recognized. The Company carries its trade receivable at net realizable value. On a periodic basis, the Company evaluates its trade receivable and determines whether to provide an allowance or if any accounts should be written down and charged to expense as a bad debt. The Company generally does not require any security or collateral to support its receivables. During the years ended December 31, 2022 and December 31, 2021, the Company did not hold any derivative financial instruments. Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: • Level 1—Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2—Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. Fair value determined through the use of models or other valuation methodologies. • Level 3—Significant unobservable inputs for assets or liabilities that cannot be corroborated by market data. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available and includes situations where there is little market activity for the asset or liability. The asset’s or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The Company’s policy is to recognize transfers between levels of the fair value hierarchy in the period the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1, 2, or 3 during the periods presented. The Company considers its cash and cash equivalents, accounts receivable and accounts payable to reflect their fair value given their short maturity and risk profile of the counterparty. Cash and Cash Equivalents Cash includes cash on hand and demand deposits with banks. Cash equivalents include short-term, highly liquid investments, with a remaining maturity at the date of purchase of three months or less for which the risk of changes in value is considered to be insignificant. Demand deposits therefore meet the definition of cash equivalents. Cash equivalents are measured at fair value using level 1 and any changes are recognized in the Consolidated Statements of Operations and Comprehensive Loss. Concentration of Credit Risk The Company has no significant off-balance losses Share Capital Ordinary shares are classified under Shareholders’ Equity. The costs of share capital transactions that are directly attributable to the issue of new shares or options are recorded in the Consolidated Financial Statements in Shareholders’ Equity as a deduction from the proceeds from the issue, net of tax. Employee benefits Depending on the laws and practices of the countries in which the Company operates, employees may be entitled to compensation when they retire or to a pension following their retirement. For state-managed plans and other defined contribution plans, the Company recognizes them as expenses when they become payable, with the Company’s commitment being limited to our contributions. The liability with respect to defined benefit plans is estimated using the following main assumptions: • discount rate; • future salary increases; • employee turnover; and • mortality tables. The difference between the amount of the liability at the beginning of a fiscal year and at the close of that year is recognized through profit or loss for the portion representing the costs of services rendered and through other comprehensive income (loss) for the portion representing the actuarial gains and losses. Service costs are recognized in profit or loss and are allocated by function. Actuarial gains and losses result from changes in actuarial assumptions and from differences between assumed and actual experience. Gains and losses recorded in other comprehensive income (loss) are amortized over expected remaining service periods to the extent they exceed 10% of the projected benefit obligation for the defined benefit plan. The Company’s payments for the defined-contribution plans are recognized as expenses in the Consolidated Statements of Operations and Comprehensive Loss for the period with which they are associated. Contingencies An estimated loss from a loss contingency is recognized if the following two conditions are met: • information available before the consolidated financial statements are issued indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the consolidated financial statements; and • the amount of loss can be reasonably estimated. With respect to litigations and claims that may result in a liability to be recognized, we exercise significant judgment in measuring and recognizing a liability or determining exposure to contingent liabilities that are related to pending litigation or other outstanding claims. These judgment and estimates are subject to change as new information becomes available. Operating Income The Company accounts for revenue when the amount can be reliably assessed, future economic benefits are likely to benefit the Company, and specific criteria are met for the Company’s business, which is in accordance with ASC 606 for the collaboration agreement with Nestlé Health Science. Other operating income Research Tax Credit The Research Tax Credit ( Crédit d’Impôt Recherche ) is granted to companies by the French tax authorities in order to encourage them to conduct technical and scientific research. Companies that prove that they have expenditures that meet the required criteria receive a tax credit that can be used against the payment of the income tax due for the fiscal year in which the expenditures were made and the next three fiscal years, or, as applicable, can be reimbursed for the excess portion. The expenditures taken into account for the calculation of the research tax credit involve only research expenses. In the fiscal year ended December 31, 2021, the Company recovered its Small and Medium-sized Enterprises, or SMEs, status under EU law, and became therefore eligible again for the immediate reimbursement of the Research Tax Credit. During the year ended December 31, 2022, the Company received the reimbursement of $ 26.1 million of the 2019, 2020 and 2021 fiscal year research tax credit. Collaboration agreement with Nestlé Health Science The Company entered into research and development collaboration agreements that may consist of non-refundable Non-refundable Milestone payments represent amounts received depending upon the achievement of certain scientific, regulatory, or commercial milestones. They are recognized when the triggering event has occurred, there are no further contingencies or services to be provided with respect to that event, and the co-contracting The Company recognizes income under the percentage-of-completion Research and Development Expenditures Research and development expenditures are charged to expense as costs are incurred in performing research and development activities. Research and development costs include all direct costs, including salaries, share-based payments and benefits for research and development personnel, outside consultants, costs of clinical trials, costs related to manufacturing clinical study materials, sponsored research, clinical trials insurance, other outside costs, depreciation, and facility costs related to the development of drug candidates. The Company records upfront, non-refundable Certain research and development projects are, or have been, partially funded by collaboration agreements, and the expenses related to these activities are included in research and development costs. The Company records the related reimbursement of research and development costs under these agreements as income in the period in which such costs are incurred. Please refer to Collaboration agreement with Nestlé Health Science for further detail. Share-based payments Since its incorporation, the Company has established several plans for equity compensation issued in the form of employee warrants (bons de souscription de parts de créateur d’entreprise or “BCEs”), stock options (“SO”), and restricted stock units (“RSUs”) granted to employees and/or executives. The company has also established several plans for equity compensation issued in the form of “share warrants” (bons de souscription d’actions or “BSAs”) granted to non-employee These awards are measured at their fair value on the date of grant. Except for RSUs, fair value is estimated using Black and Scholes models that require inputs based on certain subjective assumptions, including the expected term of the award, and the conditions of each equity plan. The fair value is amortized in personnel expenses (allocated by function in the Consolidated Statements of Operations and Comprehensive Loss) on a straight-line basis over the requisite service period, and such expense is reduced for estimated forfeitures, with a corresponding increase in shareholders’ equity. The determination of the requisite service period and the estimate of RSUs awards that are expected to vest depends on the legal interpretation of the RSUs award agreements with employees under the French labor laws and related jurisprudence. Changes in interpretations could significantly impact the accounting for the share-based payments. At each closing date, the Company re-assesses The awards are not subject to any market conditions. Income Tax Income taxes are accounted for under the asset and liability method of accounting. Deferred taxes are recognized for the future tax consequences attributable to temporary differences between the financial reporting carrying amounts and tax bases of assets and liabilities, and on tax losses, using the liability method. Differences are defined as temporary when they are expected to reverse within a foreseeable future. The Company may only recognize deferred tax assets on net operating losses if, based on the projected taxable incomes within the next three years, management determines that it is probable that future taxable profit will be available against which the unused tax losses and tax credits can be utilized. As a result, the measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance for any tax benefits which are not expected to be realized. If future taxable profits are considerably different from those forecasted that support recording deferred tax assets, the Company will have to revise downwards or upwards the amount of deferred tax assets, which would have a significant impact on the Company’s financial results. Tax assets and liabilities are not discounted. Amounts recognized in the Consolidated Financial Statements are calculated at the level of each tax entity included in the consolidation scope. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. Uncertain tax position Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Segment Information The Company operates in a single operating segment: the conducting of research and development of epicutaneous immunotherapy products in order to market them in the future. The assets, liabilities, and operating losses recognized are primarily located in France. Other Items in the Comprehensive Loss Comprehensive loss is comprised of net income(loss) and other comprehensive income (loss). Other comprehensive income (loss) includes changes in equity that are excluded from net income (loss), such as foreign currency translation adjustments. These changes in equity are presented net of tax. Net Loss Per Share The Company calculates basic and diluted net loss per ordinary share by dividing the net loss by the weighted-average number of ordinary shares outstanding during the period. For the years ended December 31, 2022 and 2021, the Company has excluded the effects of all potentially dilutive shares, which include outstanding ordinary stock options, warrants to purchase ordinary shares, and restricted stock units, from the weighted-average number of ordinary shares outstanding as their inclusion in the computation for these years would be anti-dilutive due to net losses incurred. Subsequent Events The Consolidated Statements of Financial Position and the Consolidated Statements of Operations and Comprehensive Loss of the Company are adjusted to reflect the subsequent events that alter the amounts related to the situations that existed as of the end of the period covered. The Company has evaluated subsequent events from the balance sheet date through March 2, 2023, the date at which the consolidated financial statements are issued. Accounting Pronouncements adopted in 2022 The Company has not adopted any new accounting pronouncements in 2022 to date. Accounting Pronouncements issued not yet adopted In June 2016, the FASB issued ASU 2016-13—Financial 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 of the Periods | 12 Months Ended |
Dec. 31, 2022 | |
Significant Events And Transactions of the Period Disclsure [Abstract] | |
Significant Events and Transactions of the Periods | Note 2 Significant Events and Transactions of the Periods Clinical programs United States Regulatory History and Current Status In January 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 FDA agreed with its 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 1/1,000 of 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 a modified patch, FDA requested an assessment comparing the uptake of allergen (peanut protein) between the patches in peanut allergic children ages 4-11. 6-month, Based on the January 2021 FDA feedback, the Company defined three parallel workstreams: 1. Identify a modified Viaskin patch (which the Company calls mVP). 2. Generate the 6-month 3. Demonstrate the equivalence in allergen uptake between the current and modified patches in the intended patient population via EQUAL. The complexity of EQUAL hinged on the lack of established clinical and regulatory criteria to characterize allergen uptake via an epicutaneous patch. To support those exchanges, the Company outlined its proposed approach to demonstrate allergen uptake equivalence between the two patches, and allotted time to generate informative data through two additional Phase 1 a. PREQUAL, a Phase 1 trial with adult healthy volunteers to optimize the allergen sample collection methodologies and validate the assays we intend to use in EQUAL. The data collection phase of the trial is complete, and the data analysis phase is ongoing. b. ‘EQUAL in adults’—a second Phase 1 In March 2021, the Company commenced CHAMP (Comparison of adHesion Among Modified Patches), a Phase 1 In May 2021, the Company submitted its proposed STAMP protocol to the FDA, and on October 14, 2021, the Company received an Advice/Information Request letter from the FDA. In this letter, the FDA requested a stepwise approach to the modified Viaskin patch development program and provided partial feedback on the STAMP protocol. Specifically, the FDA requested that the Company conducts allergen uptake comparison trials (i.e., ‘EQUAL in Adults’, EQUAL), and submits the allergen uptake comparison data for FDA review and feedback prior to starting the STAMP study. The FDA’s explanation was that the results from the allergen uptake studies might affect the design of the STAMP study. After careful review of the FDA’s information requests, in December 2021, the Company decided not to pursue the sequential approach to the development plans for Viaskin Peanut as requested by the FDA in the October 2021 feedback. The Company estimated that the FDA’s newly proposed sequential approach would require at least five rounds of exchanges that necessitate FDA alignment prior to initiating STAMP, the 6-month 3 In 2022, the Company announced the new Phase 3 (4-7 European Union Regulatory History and Current Status On August 2, 2021, the Company announced it has received from the EMA the Day 180 list of outstanding issues, which is an established part of the prescribed EMA review process. It is a letter that is meant to include any remaining questions or objections at that stage in the process. The EMA indicated many of their objections and major objections from the Day 120 list of questions had been answered. One major objection remained at Day 180. The Major Objection questioned the limitations of the data, for example, the clinical relevance and effect size supported by a single pivotal study. On December 20, 2021, the Company announced it has withdrawn the MAA for Viaskin Peanut and formally notified the EMA of our decision. The initial filing was supported by data from a single, placebo-controlled Phase 3 (V712-301). Viaskin Peanut for Children ages 1-3 In June 2020, the Company announced that in Part A, patients in both treatment arms showed consistent treatment effect 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 µg dose in this age group, which is the dose being studied in Part B of the study. Enrollment of Part B of EPITOPE was complete in first quarter of 2021. In June 2022, we announced positive topline results from Part B of EPITOPE, which enrolled 362 subjects ages 1 to 3 years, of which 244 and 118 were in the active and placebo arms, respectively. Enrollment was balanced for age and baseline disease characteristics between the active and placebo treatment arms. The Company intends to further analyze the data from EPITOPE and explore regulatory pathways for Viaskin Peanut in children ages 1 to 3 years, given the high unmet need and absence of approved treatments for this vulnerable population. Viaskin Peanut for Children ages 4-7 On September 7, 2022, we announced the initiation of VITESSE, a new Phase 3 4-7 On September 21, 2022, we announced we had received feedback from the FDA in the form of a partial clinical hold on VITESSE. In the partial clinical hold letter, the FDA specified changes to elements of the VITESSE protocol, acknowledging the intent for the trial to support a future BLA submission. In the following months, we engaged with the FDA to address the feedback provided in the partial clinical hold letter and to finalize the VITESSE protocol. In addition, we continued internal preparations for VITESSE and conducted certain site assessment and start-up On December 23, 2022, we announced the FDA lifted the partial clinical hold and confirmed we satisfactorily addressed all clinical hold issues. The FDA stated that VITESSE may proceed with the revised trial protocol. Financing In May 2022, the Company announced that pursuant to the Company’s At-The-Market million ($ 14.1 , new Ordinary Shares in form of ADS have been issued through a capital increase without preferential subscription rights of the shareholders reserved to specific categories of persons fulfilling certain characteristics (the “ATM Issuance”), at a unit subscription price of dollar per ADS (i.e., a subscription price per Ordinary Share of euro based on the USD/EUR exchange rate of dollar for euro, as published by the European Central Bank on May , and each ADS giving the right to receive one-half of ordinary share of the Company. In June 2022, the Company announced an aggregate $194 million ($180.4 million net of transaction costs) private pre-funded pre-funded pre-funded pre-funded pre-funded The ordinary shares, including the ordinary shares issuable upon exercise of the pre-funded pre-funded COVID-19 On March 11, 2020, the World Health Organization declared COVID-19 The Company has continued to assess the impact of the COVID-19 pandemic and uncertainties created by the pandemic on our business and the conduct of our clinical. As of December 31, 2022, 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 From time to time, we may become subject to various legal proceedings and claims that arise in the ordinary course of our business activities. We are not currently subject to any material legal proceedings. Class Action Complaint Dismissal 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 A hearing was held on July 29, 2021 in the U.S. District Court for the District of New Jersey where the Court entered an order granting the Company’s Motion to Dismiss the Second Amended Class Action Complaint without prejudice. As the dismissal was without prejudice, the Plaintiffs replead their case by filing a Third Amended Class Action Complaint on September 30, 2021 in the same Court. The company moved to dismiss third amended complaint on December 10, 2021. On July 29, 2022, the Court entered an order granting the Company’s Motion to Dismiss the Plaintiff’s Third Amended Compliant with prejudice. The Court indicated that the Third Amended Complaint was deficient in a number of ways, failing to allege a violation of the Securities Exchange Act of 1934, and ordered the matter closed. Per court procedural rules, the Plaintiffs had 30 days to appeal the dismissal of the Third Amended Complaint. This Plaintiffs failed to file an appeal of the dismissal of the Third Amended Complaint within the 30-day |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2022 | |
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: December 31, 2022 2021 Cash 30,104 31,427 Cash equivalent s 179,090 45,874 Total cash and cash equivalent s 209,194 77,301 Bank overdrafts — — Total net cash and cash equivalents as reported in the statement of cash flow 209,194 77,301 Cash equivalents are immediately convertible into cash at no or insignificant cost on demand. They are measured using level 1 fair value measurements. |
Other Current Assets
Other Current Assets | 12 Months Ended |
Dec. 31, 2022 | |
Other Current Assets [Abstract] | |
Other Current Assets | Note 4 Other Current Assets Other current assets consisted of the following: December 31, 2022 2021 Research tax credit 5,792 28,092 Other tax claims 3,903 3,561 Prepaid expenses 2,680 4,149 Other receivables 1,504 1,282 Total 13,880 37,085 The other tax claims are primarily related to deductible VAT. Prepaid expenses are comprised primarily of insurance expenses, as well as legal and scientific consulting fees. Prepaid expenses also include upfront payments which are recognized over the term of the ongoing clinical studies. Research tax credit In the fiscal year ended December 31, 2021, the Company recovered its Small and Medium-sized During the year ended December 31, 2022, the Company received the reimbursement of $ 26.1 the 2019, 2020 and 2021 fiscal year research tax credit. The variance in Research Tax Credit during the two years disclosed is presented as follow: Amount in Opening balance sheet receivable as of January 1, 2021 22,650 + 2021 fiscal year research tax credit 7,505 - Payment received — - Adjustment and currency translation effect (2,063 ) Closing balance sheet receivable as of December 31, 2021 28,092 Of which—Non-current — Of which—Current portion 28,092 Amount in Opening balance sheet receivable as of January 1, 2022 28,092 + 2022 fiscal year research tax credit 5,718 - Payment received (26,117 ) - Adjustment and currency translation effect (1,901 ) Closing balance sheet receivable as of December 31, 2022 5,792 Of which—Non-current — Of which—Current portion 5,792 |
Property, Plant, and Equipment
Property, Plant, and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant, and Equipment | Note 5 Property, Plant, and Equipment Property and equipment, net consisted of the following: 1/1/2021 Currency Increase Decrease 12/31/2021 Laboratory equipment 23,072 (1,783 ) 853 (708 ) 21,434 Building fixtures 7,767 (408 ) 48 (3,449 ) 3,958 Office equipment 970 (39 ) — (67 ) 864 Computer equipment 1,846 (92 ) 9 (464 ) 1,299 Property, plant, and equipment in progress 7,828 (477 ) (2,960 ) 4,390 Total, gross 41,482 (2,799 ) 910 (7,648 ) 31,945 Less accumulated amortization and depreciation (16,690 ) 1,109 (4,437 ) 6,219 (13,799 ) Total, net 24,792 (1,690 ) (3,527 ) (1,429 ) 18,146 1/1/2022 Currency Increase Decrease Relassification 12/31/2022 Laboratory equipment 21,434 (1,246 ) — — 270 20,459 Building fixtures 3,958 (196 ) 55 (604 ) 3,214 Office equipment 864 (25 ) 74 (428 ) 485 Computer equipment 1,299 (65 ) 16 — 8 1,258 Property, plant, and equipment in progress 4,390 (252 ) 608 — (278 ) 4,468 Total, gross 31,945 (1,783 ) 754 (1,032 ) — 29,884 Less accumulated amortization and depreciation (13,799 ) 703 (2,723 ) 1,031 — (14,788 ) Total, net 18,146 (1,080 ) (1,968 ) (1 ) — 15,096 The depreciation and amortization expense for each of the years ended December 31, 2022 and 2021 was $2.7 million and $4.4 million respectively. Laboratory equipment increase in 2021 was mainly driven by commissioning of industrial equipment. |
Lease contracts
Lease contracts | 12 Months Ended |
Dec. 31, 2022 | |
Lessee Disclosure [Abstract] | |
Lease contracts | Note 6 Lease contracts Future minimum lease payments under the Company’s operating leases’ right of use as of December 31, 2022 and 2021, are as follows: December 31, 2022 December 31, 2021 Real Other Total Real Other Total Current portion 1,972 79 2,051 3,361 77 3,438 Year 2 1,168 74 1,243 3,124 23 3,147 Year 3 65 6 71 2,299 18 2,317 Year 4 — — — 771 1 773 Year 5 — — — 790 — 790 Thereafter — — — 1,220 — 1,220 Total minimum lease payments 3,204 160 3,364 11,565 119 11,684 Less: Effects of discounting (325 ) (17 ) (343 ) (1,526 ) (8 ) (1,534 ) Present value of operating lease 2,879 143 3,021 10,039 111 10,150 Less: current portion (1,823 ) (71 ) (1,894 ) (2,929 ) (74 ) (3,003 ) Long-term operating lease 1,055 72 1,127 7,110 37 7,147 Weighted average remaining lease term (years) 1.40 — 4.14 2.01 Weighted average discount rate 3.00 % 2.45 % 4.84 % 3.32 % The Company recognizes rent expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Rent expense presented in the consolidated statement of operations and comprehensive loss was: December 31, 2022 2021 Operating lease expense 1,800 3,027 Net termination impact (1,657 ) — In January 2022, the company entered into a termination agreement for its U.S. office in Summit, NJ, following the resizing of its facility use. The Company recognized an income of $1.2 million as of June 30, 2022 due to the early termination of its Summit, NJ lease, offset by the payment of a one-time On March 28, 2022, the Company entered into a binding office lease agreement in New Jersey for a lease term of 3 years and 2 months. The lease commencement was based upon delivery of possession of the premises by the Landlord and occurred on April 1, 2022. Right of use and related lease debt have been recorded starting April 1, 2022 for a gross amount of $0.4 million. Supplemental cash flow information related to operating leases is as follows for the period December 31, 2022 and 2021: December 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 2,195 2,879 |
Other non-current assets
Other non-current assets | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets, Noncurrent Disclosure [Abstract] | |
Other non-current assets | Note 7 Other non-current Other non-current December 31, 2022 2021 FX facility collateral account 3,739 3,969 Deposits, pledged securities and other non-current 1,773 2,665 Liquidity contract 312 199 Total other non-current 5,824 6,833 The other non-current Under the liquidity contract, 149,793 treasury shares were allocated as a reduction of Shareholders’ Equity as at December 31, 2022 with the cash balance being maintained in financial assets. |
Trade payables and Other Curren
Trade payables and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Payables and Accruals [Abstract] | |
Trade payables and Other Current Liabilities | Note 8 Trade payables and Other Current Liabilities 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 year presented. Other Current Liabilities Other current liabilities consisted of the following: December 31, 2022 2021 Social debt 5,872 6,708 Deferred income 2,137 4,146 Tax liabilities 69 182 Other debts 1,131 1,325 Total 9,210 12,361 The other current liabilities include short-term debt related to employees’ bonus accruals, as well as social welfare and tax agencies. Deferred income mainly includes deferred income from the collaboration agreement with Nestlé Health Science, which amounted to $2.1 million as of December 31, 2022. |
Financial debt and Other Non-Cu
Financial debt and Other Non-Current Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Long Term Debt And Other Noncurrent Liabilities Disclosure [Abstract] | |
Financial debt and Other Non-Current Liabilities | Note 9 Financial debt and Other Non-Current Financial debt—Conditional Advances The table below presents the details of the debts recorded on the statement of financial position by the type of conditional advance: BPI Balance sheet debt at start of period 01/01/2021 1,267 Repayments (689 ) Other movements (68 ) Balance sheet debt as at 12/31/2021 510 Of which—Non-current — Of which—Current portion 510 Stated interest rate No Discount rate 3.2 % Maturity (in years) 2-7 BPI Balance sheet debt at start of period 01/01/2022 510 Repayments (474 ) Other movements (36 ) Balance sheet debt as at 12/31/2022 — Stated interest rate No Discount rate 3.2 % Maturity (in years) 2-7 The changes appearing in “Other movements” are comprised of the effect of discounting conditional advances. BpiFrance Financement Interest Free Loan The Company has been granted until September 2022 a €3.0 million interest-free Innovation loan from BpiFrance Financement to help financing the pharmaceutical development of Viaskin ™ Due dates of liabilities The following table shows the maturity of the Company’s liabilities (except leases disclosed in Note 7—“Lease contract”): Carrying 2023 2024 Thereafter Other liabilities 13,945 9,210 4,735 — Supplier accounts payable and related payables 14,473 14,473 — — Total liabilities 28,418 23,683 4,735 — As detailed in Note 8, the current portion of other liabilities mainly includes social security and deferred incomes from the collaboration agreement with Nestlé Health Science. |
Fair value measurement
Fair value measurement | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurement | Note 10 Fair value measurement The Company reports assets and liabilities recorded at fair value on the Company’s consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value. The fair value measurement level within the fair value hierarchy for a particular asset or liability is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. Financial instruments not measured at fair value on the Company’s consolidated statement of financial position, but which require disclosure of their fair values include cash and cash equivalents, accounts receivable, deposits, liquidity contract, accounts payable and conditional advances. The fair values of these financial instruments are deemed to approximate their carrying amount. The fair values of cash and cash equivalents, accounts receivable, deposits, liquidity contract and accounts payable are categorized as Level 1. The fair value of conditional advance was categorized as Level 2 and was estimated based on a discounted cash flow method using the effective interest rate. For the interest-free conditional advances, the discount rate applied is equal to the rate of fungible treasury bonds over the time period that corresponds to the time period of the repayment of the advances. There has been no transfer between levels of the fair value hierarchy during the years ended December 31, 2021 and 2022. |
Share Capital Issued
Share Capital Issued | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Share Capital Issued | Note 11 Share Capital Issued The share capital, as of December 31, 2022, is set at the sum of €9,413,715 ($ 10,720,399 converted at historical rates). It is divided into 94,137,145 fully authorized, subscribed and paid-up This number does not reflect ordinary shares issuable upon exercise or settlement of non-employee non-employees All the shares give their owners the right to a proportional share of the income and the net assets of the Company. Pursuant to the authorization granted by the SH General Meeting, the Board of Directors, at its meeting of June 9, 2022 (the “Board General Meeting”): • decided, within the framework of the PIPE financing the principle of a capital increase in cash with cancellation of preferential subscription rights, reserved for categories of persons meeting the characteristics set out in the 18 th resolution of the Board General Meeting, through the issuance of Ordinary Shares and warrants to subscribe for Ordinary Shares, for a maximum amount of nd • granted a number of authorizations for the purpose of carrying out the issuance; • sub-delegated The Chief Executive Officer, acting pursuant to the sub-delegations • decided, making use of the 18 th 225-128 capital increase of a nominal amount of €3,285,566.90 together with a share premium of € 95,281,440.10, i.e. a gross amount of the capital increase of € 98,567,007, and (ii) 28,276,331 prefunded warrants to be subscribed in cash by paying up on the date of issue of € 82,001,359.90 corresponding to the prepayment of the subscription price of the new ordinary shares in the event of exercise of the prefunded warrants, • decided to set the maximum nominal amount of the capital increase resulting from the full exercise of the prefunded warrants at € 2,827,633.10, by issuing a maximum of 28,276,331 ordinary shares, with a value of € 0.10 to be subscribed in cash at the price of € 0.10 euro (without share premium), and to be fully paid up at the time of subscription, i.e. a capital increase of a maximum nominal amount of € 2,827,633.10 (and a share premium corresponding to the amount of the pre-financed • determined the list of beneficiaries (designated within each of the categories of persons defined in the 18 th The Company has assessed the pre-funded pre-funded The 2022 Warrants are classified as a component of permanent equity because they are freestanding financial instruments that are legally detachable and separately exercisable from the shares of common stock with which they were issued, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, and permit the holders to receive a fixed number of shares of common stock upon exercise. In addition, the 2022 Warrants do not provide any guarantee of value or return. Accordingly, the pre-funded paid-in The changes in number of outstanding prefunded warrants are as follows: Prefunded Balance as of December 31, 2021 — Granted during the period 28,276,331 Forfeited during the period — Exercised/released during the period — Expired during the period — Balance as of December 31, 2022 28,276,331 The table below presents the changes in the share capital of the Company as of December 31, 2021 and 2022: (Amounts in thousands of U.S. Dollars except share and per share data) Date Nature of the transactions Share capital* Additional paid-in Number of shares Balance as of December 31, 2020 6,518 1,152,042 54,929,187 02/22/2021 Capital increase by employee warrants 1 46 7,500 05/12/2021 Capital increase by employee warrants 1 62 10,200 05/17/2021 Capital increase by employee warrants 1 64 10,500 05/18/2021 Capital increase by employee warrants 1 66 10,800 05/19/2021 Retained earnings charged on share premium (797,823 ) 05/21/2021 Capital increase by employee warrants 1 68 11,100 05/26/2021 Capital increase by employee warrants 3 129 21,000 05/28/2021 Capital increase by employee warrants 1 70 11,400 06/10/2021 Issuance of share warrants 279 10/07/2021 Capital increase by ordinary shares 2 (2 ) 20,000 11/24/2021 Capital increase by ordinary shares 7 (7 ) 58,675 12/20/2021 Capital increase by ordinary shares 1 (1 ) 5,400 12/31/2021 Share-based payments 3,122 Balance as of December 31, 2021 6,538 358,115 55,095,762 03/23/2022 Capital increase by ordinary shares 0 (0 ) 775 05/10/2022 Capital increase by ATM program 637 13,442 6,036,238 05/12/2022 Retained earnings charged on share premium (95,209 ) 05/19/2022 Capital increase by employee warrants 1 (1 ) 5,000 05/24/2022 Capital increase by employee warrants 3 (3 ) 26,135 06/09/2022 Capital increase by ordinary shares 3,530 88,743 32,855,669 06/09/2022 Capital increase by share warrants 88,094 06/10/2022 Capital increase by employee warrants 0 13 3,100 07/08/2022 Capital increase by employee warrants 0 10 2,513 09/23/2022 Capital increase by ordinary shares 0 (0 ) 249 11/19/2022 Capital increase by ordinary shares 0 (0 ) 2,500 11/22/2022 Capital increase by ordinary shares 3 (3 ) 30,625 11/24/2022 Capital increase by ordinary shares 8 (8 ) 78,579 12/31/2021 Share-based payments 5,026 Balance as of December 31, 2022 10,720 458,220 94,137,145 * Conversion in U.S. Dollars at historical rates In May 2022, pursuant to the authorization granted by the General Meeting of the Shareholders held on May 12, 2022, the accumulated net losses of DBV Technologies S.A. after appropriation of the net result for the year ended December 31, 2021 have been allocated to additional paid-in f € million million |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Payments | Note 12 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”), and non-employee Share-based General meeting of Board of directors Grant date Number granted BSA 12/9/11 9/25/12 9/25/12 30,000 BSA 6/4/13 7/25/13 7/25/13 73,000 SO 12/9/11 9/18/13 9/18/13 518,000 BSA 6/3/14 3/24/15 3/24/15 10,000 SO 6/3/14 6/23/15 6/23/15 120,000 BSA 6/23/15 11/19/15 11/19/15 22,500 BSA 6/23/15 12/15/15 2/15/16 90,000 SO 6/3/14 4/6/16 4/21/16 33,000 SO 6/3/14 6/21/16 6/21/16 110,000 BSA 6/21/16 6/21/16 8/21/16 20,000 SO 6/3/14 6/21/16 9/15/16 9,300 SO 6/3/14 6/21/16 10/17/16 16,500 BSA 6/21/16 12/9/16 2/9/16 59,000 SO 6/3/14 6/21/16 12/9/16 74,960 RSU 9/21/15 3/14/17 3/14/17 22,500 RSU 9/21/15 4/20/17 4/20/17 24,000 BSA 6/15/17 6/15/17 8/15/17 9,000 SO 6/3/14 6/15/17 6/15/17 126,000 SO 6/15/17 6/15/17 6/15/17 111,600 SO 6/15/17 6/15/17 9/15/17 52,600 SO 6/15/17 11/17/17 12/5/17 625,200 BSA 6/15/17 5/2/18 7/2/18 44,000 RSU 6/22/18 6/22/18 6/22/18 486,153 RSU 6/22/18 9/6/18 9/6/18 450 SO 6/22/18 9/6/18 9/6/18 65,000 SO 6/22/18 6/22/18 10/15/18 76,700 RSU 6/22/18 11/1/18 11/1/18 57,000 SO 6/22/18 11/29/18 11/29/18 350,000 RSU 6/22/18 12/12/18 12/12/18 16,250 RSU 6/22/18 12/12/18 12/17/18 3,000 SO 6/22/18 3/4/19 3/20/19 547,100 RSU 6/22/18 5/10/19 5/10/19 100,000 SO 5/24/19 5/24/19 5/24/19 150,000 SO 5/24/19 7/1/19 7/1/19 403,400 SO 5/24/19 7/1/19 7/22/19 75,000 RSU 5/24/19 10/11/19 10/11/19 40,000 SO 5/24/19 10/11/19 1/15/20 94,500 RSU 5/24/19 10/11/19 3/16/20 5,000 RSU 4/20/20 4/20/20 4/29/20 20,000 RSU 4/20/20 11/24/20 11/24/20 475,000 SO 4/20/20 11/24/20 11/24/20 1,216,200 RSU 4/20/20 3/23/21 3/23/21 24,900 SO 4/20/20 3/23/21 3/23/21 75,200 RSU 5/19/21 5/19/21 5/19/21 20,000 BSA 5/19/21 5/19/21 6/3/21 39,185 RSU 5/19/21 11/22/21 11/22/21 257,300 SO 5/19/21 11/22/21 11/22/21 1,107,300 RSU 5/19/21 5/12/22 5/12/22 3,200 SO 5/19/21 5/12/22 5/12/22 19,000 RSU 5/12/22 7/29/22 7/29/22 66,700 SO 5/12/22 7/29/22 7/29/22 135,500 RSU 5/12/22 11/21/22 11/21/22 519,650 SO 5/12/22 11/21/22 11/21/22 1,771,786 In the following tables related to share-based payments, exercise prices, grant date share fair values and fair value per equity instruments are provided i n 12.1 Non-employee The Company’s board of directors has been authorized by the shareholders’ general meeting to grant BSAs to non-employee’s The BSAs plans granted by the Board of Directors until 2018 are similar in their nature and conditions, except for the exercise price that is comprised between €5.13 and €69.75. During the year ended December 31, 2021, pursuant to the authorization granted by the General Meeting of the Shareholders held on May 19, 2021, the Company offered the directors the opportunity to subscribe for warrants to purchase ordinary shares on May 19, 2021, and on June 3, 2021, the directors subscribed for warrants to purchase an aggregate of 39,185 ordinary shares. These warrants have a contractual life of 4 years from their date of issuance and are not subject to a performance condition. Unless otherwise decided by the Board of Directors, these warrants may be exercised at any time prior to their expiration, provided that the beneficiary still holds a seat on the Board of Directors at the time of exercise, and subject to applicable French laws and regulations applicable to companies whose securities are listed on a regulated stock market. The fair value of the warrants has been estimated using the Cox-Ross Warrant fair value assumptions during the year ended December 31, 2021 Weighted average share price at grant date (in €) 10.75 Weighted average expected volatility 90.0 % Weighted average risk-free interest rate (0.53 )% Weighted average expected term (in years) 3.21 Dividend yield — Weighted average fair value of warrants (in €) — The following table summarizes all BSA activity during the year ended December 31, 2021: Number of Weighted- Weighted- Aggregate Balance as of December 31, 2020 218,008 52.78 5.36 — Granted during the period 39,185 9.18 — — Forfeited during the period — — — — Exercised during the period — — — — Expired during the period (500 ) 5.13 — — Balance as of December 31, 2021 256,693 47.51 4.35 — Warrants exercisable as of December 31, 2021 256,693 47.51 4.35 — The following table summarizes all BSA warrants activity during the year ended December 31, 2022: Number of Weighted- Weighted- Aggregate Balance as of December 31, 2021 256,693 47.51 4.35 — Granted during the period — — — — Forfeited during the period — — — — Exercised during the period — — — — Expired during the period (5,000 ) 8.59 — — Balance as of December 31, 2022 251,693 48.29 4.36 — Warrants exercisable as of December 31, 2022 251,693 48.29 4.36 — 12.2 Employee warrants As of December 31, 2022, no more BSPCE / BCE warrants (Bons de Souscription de Parts de Créateur d’Entreprise or “BSPCE”) are exercisable. 12.3 Stock options The Company’s Board of Directors has been authorized by the shareholders’ general meeting to grant SOs to employees. The different stock options plans granted by the Board of Directors are similar in their nature and conditions, except for the exercise price that is comprised between €2.61 and €74.22. All SO issued have a ten-year contractual • Before June 22, 2018 and after January 15, 2020, SO granted mainly vest over four years at a rate of 25% upon the first anniversary of the issuance date and 12.5% every 6 months thereafter, subject to the beneficiary being still employed by the Company (except in specific contractual clause or board of directors’ decisions), • Between June 22, 2018 and January 15, 2020, SO may be exercised by the beneficiary once both of the following conditions have been met: • Service condition: 25% upon the first anniversary of the issuance date and 12.5% every 6 months thereafter, subject to the beneficiary being still employed by the Company (except in specific contractual clause or board of directors’ decisions), and, • Performance condition: approval of Viaskin ™ Performance conditions which are other than market conditions, are taken into account by adjusting the number of equity instruments included in the measurement of the transaction amount but are not taken into account when estimating the fair value of the shares. Estimated achievement of performance conditions is reviewed at each reporting date. The Company also applied a forfeiture rate for each grant according to its respective characteristics and composition. This forfeiture rate is reviewed at each reporting date. The following table summarizes all stock options activity during the year ended December 31, 2021: Number of SO Weighted- Weighted- Aggregate Balance as of December 31, 2020 2,610,510 18.75 8.17 198.8 Granted during the period 1,182,900 6.09 — — Forfeited during the period (162,200 ) 4.89 — — Exercised during the period — — — — Expired during the period — — — — Balance as of December 31, 2021 3,631,210 15.25 8.67 Options exercisable as of December 31, 2021 878,560 29.50 6.13 — The following table summarizes all stock options activity during the year ended December 31, 2022: Number of SO Weighted- Weighted- Aggregate Balance as of December 31, 2021 3,631,210 15.25 8.67 Granted during the period 1,926,286 3.12 — — Forfeited during the period (238,715 ) 12.22 — — Exercised during the period 5,613 4.16 — — Expired during the period — — — — Balance as of December 31, 2022 5,313,169 11.00 8.41 Options exercisable as of December 31, 2022 1,331,508 20.20 6.69 — As of December 31, 2022, there was €9.3 million ($9.9 million converted at closing rate) of unrecognized SO expense that is expected to be recognized over a weighted-average period of 3.4 years. Fair value of stock options Determining the fair value of the share-based payments at the grant date requires judgment. The Company calculated the fair value of stock options instruments on the grant date using the Black-Scholes option pricing model. The Black-Scholes model requires the input of highly subjective assumptions, including the expected volatility, expected term, risk-free interest rate and dividend yield. Exercise price The exercise price of the Company’s stock awards is based on the fair market value of our ordinary shares. Risk-free interest rate The risk-free interest rate is based on French government bonds (GFRN) with a maturity corresponding to the stock options maturity. Expected term The Company determines the expected term based on the average period the stock options are expected to remain outstanding. Expected Volatility The Company determines the expected volatility based on the historical data period corresponding to the stock options expected maturity. Expected Dividend yield The Company has never declared or paid any cash dividends, and it does not presently plan to pay cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero. The Company estimated the following assumptions for the calculation of the fair value of the stock options: Assumptions per year ended, December 31, Stock options per grant date Prior to 2017 2018 2019 2020 2021 2022 Weighted average shares price at grant date in € 36.69 45.49 31.86 15.26 5.54 5.71 2.33 Weighted average expected volatility 45.4 % 41.8 % 47.1 % 70.8 % 87.3 % 90.2 % 98.9 % Weighted average risk-free interest rate 1.0 % (0.1 )% 0.3 % (0.1 )% (0.5 )% (0.06 )% 2.2 % Weighted average expected term (in years) 6.7 6 6 6 6 6 6 Dividend yield 0 0 0 0 0 0 0 Weighted average fair value of stock-options (in €) 17.66 17.16 13.67 9.65 3.90 4.17 2.23 12.4 Restricted stock units The Company’s board of directors has been authorized by the shareholders’ general meeting to grant RSUs to employees. RSUs are measured based on the fair market value of the underlying stock on the date of grant and recognized as an expense on a straight-line basis in accordance with the following vesting conditions: • Before May 31, 2019, the vesting of RSUs granted is subject to the expiration of the presence condition of one (1) or two (2) years (except in specific board of directors’ decisions). The release of RSUs for these plans is subject to the achievement of performance conditions (submission of a BLA to U.S. FDA for Viaskin ™ ™ ™ • Between May 31, 2019 and November 23, 2020, the vesting of RSUs is subject either to the expiration of the presence condition of two (2) years only, or to the dual condition of expiration of the presence condition and achievement of the performance condition (date of approval of Viaskin ™ • Since November 24, 2020, RSUs vest over four years at a rate of 25% upon the first anniversary of the issuance date and 12.5% every 6 months thereafter, subject to the beneficiary being still employed by the Company (except in specific board of directors’ decisions). Performance conditions, which are other than market conditions, are taken into account by adjusting the number of equity instruments included in the measurement of the transaction amount but are not taken into account when estimating the fair value of the shares. Estimated achievement of performance conditions is reviewed at each reporting date. RSU plans may be subject to a conservation period under French governing laws. The Company applied a forfeiture rate for each grant according to its respective characteristics and composition. This forfeiture rate is reviewed at each reporting date. The following table summarizes all RSUs activity for the year ended December 31, 2021: Number of Weighted Balance as of December 31, 2020 1,118,745 20.35 Granted during the period 302,200 6.13 Forfeited during the period (96,350 ) 6.74 Released during the period (84,075 ) 8.20 Expired during the period — — Balance as of December 31, 2021 1,240,520 18.77 The following table summarizes all RSUs activity for t h Number of Weighted Balance as of December 31, 2021 1,240,520 18.77 Granted during the period 589,550 2.67 Forfeited during the period (92 326 ) 4.96 Released during the period (118,967 ) 5.15 Expired during the period — — Balance as of December 31, 2022 1,618,778 14.69 As of December 31, 2022, there was €2.6 million ($2.8 million converted at closing rate) of unrecognized RSUs compensation expense that is expected to be recognized over a weighted-average period of 3.4 years. 12.5 Reconciliation of the share-based payment expenses with the Consolidated Statements of Operations and Comprehensive Loss December 31, 2022 2021 Research and development SO (1 462 ) (759 ) RSU (841 ) (887 ) Sales and marketing SO (31 ) (209 ) RSU (4 ) (104 ) General and administrative SO (2,374 ) (841 ) RSU (315 ) (322 ) Total share-based compensation (expense) income (5,026 ) (3,122 ) |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Loss Contingency [Abstract] | |
Contingencies | Note 13 Contingencies Non-current December 31, 2022 2021 Current contingencies 3,944 4,095 Non-current 16,680 6,758 Total contingencies 20,625 10,853 The table below shows movements in contingencies: Pension Collaboration Other Total At January 1, 2021 937 3,956 2,649 7,542 Increases in liabilities 181 6,420 47 6,649 Used liabilities — — (1,634 ) (1,634 ) Reversals of unused liabilities — — (920 ) (920 ) Net interest related to employee benefits, and unwinding of discount 3 — — 3 Actuarial gains and losses on defined-benefit plans (35 ) — — (35 ) Currency translation effect (78 ) (577 ) (98 ) (753 ) At December 31, 2021 1,008 9,800 45 10,853 Of which Current — 4,049 45 4,095 Of which Non-current 1,008 5,750 — 6,758 Pension Collaboration Other Total At January 1, 2022 1,008 9,800 45 10,853 Increases in liabilities 105 12,455 — 12,560 Used liabilities — — (42 ) (42 ) Reversals of unused liabilities — (1,984 ) — (1,984 ) Net interest related to employee benefits, and unwinding of discount — — — — Actuarial gains and losses on defined-benefit plans (262 ) — — (262 ) Currency translation effect (61 ) (436 ) (3 ) (500 ) At December 31, 2022 790 19,835 — 20,625 Of which Current — 3,944 — 3,944 Of which Non-current 790 15,891 — 16,680 The Company does not hold any plan assets for any of the periods presented. As of December 31, 2022, the Company updated its measurement of progress of the Phase 2 clinical trial (“PII”) conducted as part of the collaboration and license agreement with Nestlé and updated the cumulative income recognized. The Company has recorded an accrual in the amount of the excess between the Company’s current best e stimates As part of the estimation of the retirement commitments, the following assumptions were used for all categories of employees: December 31, 2022 2021 % Social security contributions 50.0 % 50.0 % Salary increases 2.0 % 2.0 % Discount rate—Iboxx Corporates AA 10+ 3.77 % 0.98 % Expected staff turnover 10.0 % 10.0 % Estimated retirement age 65 65 Life table TGH05-TGF05 Collective agreement National Collective Agreement of |
Operating Income
Operating Income | 12 Months Ended |
Dec. 31, 2022 | |
Other Income and Expenses [Abstract] | |
Operating Income | Note 14 Operating Income The operating income is broken down in the following manner: December 31, 2022 2021 Research tax credit 5,718 7,505 Other operating income (874 ) (1,797 ) Total 4,844 5,708 On May 31, 2016, the Company announced its entry into an exclusive global collaboration with Nestlé Health Science to develop MAG1C, a ready-to-use 3 MAG1C globally, while prioritizing certain agreed-upon countries. The Company entered into an amendment with Nestlé Health Science on July 12, 2018. The Company is eligible to receive up to €100.0 million in potential development, clinical, regulatory and commercial milestones, inclusive of a non-refundable The Company’s current clinical trials, including the Phase 2 clinical trial conducted as part of the development activities pursuant to the Development, Collaboration and License agreement with Nestlé Health Science, have been impacted by the Covid-19 As of December 31, 2022, the Company recorded its collaboration agreement’s revenue based on its updated measurement of progress of the Phase 2 clinical trial conducted as part of the agreement. The accrual recorded in the amount of the difference between the Company’s current best estimates of costs yet to be incurred and revenues yet to be recognized for the completion of the Phase 2 clinical trial has been updated accordingly. |
Allocation of Personnel Expense
Allocation of Personnel Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Operating Expenses [Abstract] | |
Allocation of Personnel Expenses | Note 15 Allocation of Personnel Expenses The Company had 86 average employees for the year ended December 31, 2022, in comparison with 101 employees for the year ended December 31, 2021. Allocation of Personnel Expenses by Function: December 31, 2022 2021 Research and Development expenses 13,055 14,596 Sales and Marketing expenses 914 1,885 General and Administrative expenses 10,008 9,357 Restructuring* — 5,296 Total personnel expenses 23,977 31,135 * Restructuring personnel expenses excluding reversal for the year ended December 31, 2021. Allocation of Personnel Expenses by Nature: December 31, 2022 2021 Wages and salaries 14,802 18,017 Social security contributions 3,206 8,630 Expenses for pension commitments 943 1,366 Share-based payments 5,026 3,122 Total 23,977 31,135 The decrease in personnel expenses is mainly due to a decrease in headcount as well as accrued bonus, retention measures as part of the global restructuring plan. |
Income Tax
Income Tax | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Tax | Note 16 Income Tax Reconciliation between the Effective and Nominal Income Tax Expense The following table shows the reconciliation between the effective and nominal tax expense at the nominal standard French rate 25% as of December 31, 2022 and 26.5% as of December 31, 2021 (excluding additional contributions): December 31, 2022 2021 (Loss) before taxes (96,204 ) (98,189 ) Theoretical company tax rate 25.00 % 26.50 % Nominal tax expense 24,051 26,020 Increase/decrease in tax expense arising from: Research tax credit 1,430 1,990 Share-based compensation (784 ) (104 ) Other permanent differences (100 ) (86 ) Non recognition of deferred tax assets mainly related to tax losses (24,746 ) (25,882 ) Other differences 79 (1,557 ) Effective tax expenses—current (70 ) 381 Effective tax expenses—deferred — — Effective tax rate (0.07 )% 0.39 % Deferred Tax Assets Deferred taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes. The significant components of the Company’s deferred tax assets are comprised of the following: December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards 273,964 263,086 Share-based compensation 1,102 5,521 Personnel-related accruals 389 376 Pension retirement obligations 197 252 Leases 6 518 Other 5,248 2,760 Total deferred tax assets 280,907 272,513 Less: Valuation allowance (280,907 ) (272,513 ) Net deferred tax assets — — |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | Note 17 Commitments Purchase Obligations The Company has signed agreements with several contract research organizations (CRO) and part of the ongoing clinical studies for Viaskin ™ ™ million, and we had non-cancellable contractual obligations with CRO until year ended 2025 amounting to $48.7 million. Letter of Credit and Collateral A letter of credit was signed by the Company in May 2017 for $0.3 million to secure the lease of its premises of its United States subsidiary in New York. A collateral of the same amount was signed in order to pledge against this letter of credit. A Certificate of Deposit, for an initial amount of $0.25 million was signed in order to guarantee an American Express credit cards program in the United States. In 2015, the Company took a term deposit for a sum of €0.23 million (equivalent to $0.24 million at closing exchange rate). |
Relationships with Related Part
Relationships with Related Parties | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Relationships with Related Parties | Note 18 Relationships with Related Parties The compensation amounts for 2022 presented below, which were awarded to the Directors and Officers of the Company totaled $8 million. The recipients of this compensation are “related parties” under applicable French law and may not be considered executive officers or related parties under comparable SEC and Nasdaq rules and regulations applicable to the Company. December 31, 2022 2021 Short-term benefits 4,625 5,128 Post-employment benefits 33 67 Termination benefits 24 280 Share-based payments 3,355 1,556 Total 8,037 7,031 The methods for the valuation of the benefit related to share-based payments are presented in Note 12 Share-Based Payments. Amounts payable to related parties as of December 31, 2022 and 2021 are as follows: December 31, 2022 2021 Compensation 2,009 1,820 Pension obligations 83 156 Total 2,092 1,976 |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Loss Per Share | Note 19 Loss Per Share The basic loss per share is calculated by dividing the net loss attributable to the shareholders of the Company by the weighted average number of ordinary shares outstanding during the course of the fiscal year. As the Company was in a loss position for the years ended December 31, 2022 and 2021, the diluted loss per share is equal to basic loss per share because the effects of potentially dilutive shares were anti-dilutive given the Company’s net loss. The computations for basic and diluted loss per share were as follows (in thousands of U.S. Dollars except share and per share data): December 31, 2022 2021 Net loss (96,274 ) (97,809 ) Weighted average number of ordinary shares 77,384,133 54,916,937 Basic and diluted net loss per share attributable to ordinary shareholders ($/share) (1.24 ) (1.78 ) The following is a summary of the ordinary share equivalents which were excluded from the calculation of diluted net loss per share for the periods indicated in number of potential shares: December 31, 2022 2021 Non-employee 251,693 256,693 Employee warrants — — Stock-options 5,313,169 3,631,210 Restricted stock units 1,618,778 1,240,520 Prefunded warrants 28,276,331 — |
Events After the Close of the F
Events After the Close of the Fiscal Year | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Events after the Close of the Fiscal Year | Note 20 Events after the Close of the Fiscal Year There are no significant events that require adjustments or disclosure in the consolidated financial statements. |
Nature of the business and pr_2
Nature of the business and principles and accounting methods (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”) and presented in thousands of U.S. Dollars, except for share and per share data and as otherwise noted. Any reference in these notes to applicable guidance is meant to refer to authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). We also follow the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The Consolidated Financial Statements have been prepared assuming the Company will continue as a going concern and using the historical cost principle with the exception of certain assets and liabilities that are measured at fair value in accordance with U.S. GAAP. The categories concerned are detailed in the following notes. |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Intercompany transactions and balances have been eliminated. The following list presents all entities included in the consolidation scope for the years ended December 31, 2021 and 2022, as well as their country of incorporation and the percentage of ownership interests: • DBV Technologies Inc. was incorporated in Delaware on April 7, 2014 (the “US subsidiary”). The share capital of this US subsidiary is 100% owned by DBV Technologies S.A. • DBV Australia Pty Ltd. was incorporated in New South Wales, Australia on July 3, 2018 (the “Australian subsidiary”). The share capital of this Australian subsidiary is 100% owned by DBV Technologies S.A. (“DBV Technologies”). • DBV Pharma was incorporated in Paris on December 21, 2018 (the “French subsidiary”). The share capital of this French subsidiary is 100% owned by DBV Technologies S.A. On December 31, 2021, the company proceeded to the dissolution of DBV Canada Ltd. This subsidiary was originally incorporated in Ottawa, Ontario on August 13, 2018 (the “Canadian subsidiary”). The share capital of this Canadian subsidiary was 100% owned by DBV Technologies S.A. |
Functional Currency and Translation of Financial Statements in Foreign Currency | Functional Currency and Translation of Financial Statements in Foreign Currency The Consolidated Financial Statements are presented in U.S. dollars, which differs from the functional currency of the Company, being the Euro. The statements of financial position of consolidated entities having a functional currency different from the presentation currency are translated at the closing exchange rate (spot exchange rate at the statement of financial position date) and the statements of operations, statements of comprehensive loss and statements of cash flow of such consolidated entities are translated at the weighted average exchange rate. The resulting translation adjustments are included in equity under the caption “Accumulated other comprehensive income (loss)” in the Consolidated Statements of Changes in Shareholders’ Equity. |
Conversion of Foreign Currency Transactions | Conversion of Foreign Currency Transactions Foreign currency transactions are converted to functional currency of the entity at the rate of exchange applicable on the transaction date. At period-end, |
Use of estimates | Use of estimates The preparation of the Company’s 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. As of December 31, 2022, the ongoing pandemic may make management’s estimates vulnerable to significant changes. Those uncertainties were considered in the assumptions underlying the estimates and judgments used by the Company but a number of estimates have been and will continue to be affected by the ongoing pandemic. 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 right-of-use |
Going concern | Going concern These Consolidated Financial Statements have been prepared assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. 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 (Crédit d’Impôt Recherche). The Company does not generate product revenue and continues to prepare for the potential launch of its first product in the United States and in the European Union, if approved. Following receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) in connection with its BLA for Viaskin ™ pre-clinical ™ ™ In January 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. In order to respond to the FDA’s requests and recommendations, the Company defined parallel workstreams primarily in order to generate the 6-month Following the submission of the adhesion study’s protocol to the FDA, the Company received an Advice/Information Request letter from the FDA in October 2021, requesting a stepwise approach to the modified Viaskin patch development program and provided partial feedback on this protocol. In December 2021, the Company decided not to pursue the sequential approach to the development plans for Viaskin Peanut as requested by the FDA in the October 2021 feedback and announced its plan to initiate a pivotal Phase 3 clinical study for a modified Viaskin Peanut patch (mVP) in children in the intended patient population. The Company considers this approach as the most straightforward approach to demonstrate effectiveness, safety, and improved in vivo adhesion of the modified Viaskin Peanut system. After receiving approval from the FDA for its change in strategy, the protocol for the new Phase 3 pivotal study of the modified Viaskin Peanut (“mVP”) patch was completed at the end of February 2022 and has been prepared for FDA submission. In May 2022, the Company established an At-The-Market million of American Depositary Shares (“ADSs”). The Company’s intent is to use the net proceeds, if any, of sales of ADSs issued under the program, together with its existing cash and cash equivalents, primarily for activities associated with potential approval and launch of Viaskin Peanut, as well as to advance the development of the Company’s product candidates using its Viaskin Platform and for working capital and other general corporate purposes. In June 2022, the Company announced that its pivotal Phase 3 trial EPITOPE, assessing the safety and efficacy of Viaskin Peanut treatment of peanut-allergic toddlers ages 1 to 3 years, met its primary endpoint, with a statistically significant treatment effect. The Company also indicated continuing productive dialogue with the FDA on the protocol design of VITESSE, a pivotal Phase 3 trial of the modified Viaskin Peanut patch in peanut-allergic children ages 4 to 7 years. During the same month, the Company announced private placement financing (“PIPE”) amounting to $194 million. In September 2022, after announcing initiating, the Company received a partial clinical hold letter from the FDA on its VITESSE Phase 3 clinical study. Within the FDA’s communication, the modifications address design elements, including the statistical analysis of adhesion, minimum daily wear time and technical alignments in methods of categorizing data, to meet study objectives as well as the total number of trial participants on active treatment. In December 2022, the Company received confirmation from the FDA that it lifted the partial clinical hold on its VITESSE Phase 3 clinical study. The Company indicated the updated protocol will be submitted to study sites for subsequent Institutional Review Boards and Ethics Committees approval. Based on its current operations, plans and assumptions as revised pursuant to 2022 announcements related to EPITOPE P P 2 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 The Company cannot guarantee that it will be able to obtain the necessary financing to meet its needs or to obtain funds at attractive terms and conditions, including as a result of disruptions to the global financial markets due to the ongoing COVID-19 COVID-19 If the Company is not successful in its financing objectives, the Company could have to scale back its operations, notably by delaying or reducing the scope of its research and development efforts or obtain financing through arrangements with collaborators or others that may require the Company to relinquish rights to its product candidates that the Company might otherwise seek to develop or commercialize independently. These Consolidated Financial Statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. |
Intangible Assets | Intangible Assets Acquired intangible assets are accounted for at acquisition cost less accumulated amortization. Acquired intangible assets are mainly composed of software amortized on a straight-line basis over their estimated useful lives comprised between one |
Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment are recorded at their acquisition cost. Property, plant, and equipment are depreciated on a straight-line method over the estimated useful lives of the property. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the remaining lease term. Depreciation is calculated on a straight-line basis over the assets’ estimated useful lives as follows: PROPERTY, PLANT, AND EQUIPMENT ITEM PERIOD DEPRECIATION Laboratory equipment and technical facilities 3 to 10 years Building fixtures and leasehold improvements 5 to 9 years Office equipment and furniture 5 years Computer equipment 3 years |
Impairment of assets | Impairment of assets The Company periodically reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or the estimated useful life is no longer appropriate. If indicators of impairment exist and the recoverable value of the asset on an undiscounted cash flow basis is less than the carrying amount, an impairment loss is recorded to the extent the carrying amount exceeds its fair value. |
Lease contracts | Lease contracts The Company determines whether an arrangement is a lease at contract inception by establishing if the contract conveys the right to use, or control the use of, identified property, plant, or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate leases, leases for industrial equipment and leases for office equipment. The Company’s real estate leases typically include options and features including rent free periods, rent escalation periods, renewal options and early termination options. The lease term is defined contract-by-contract non-cancelable The Company recognizes operating lease liabilities based on the present value of the future minimum lease payments over the lease term at commencement date. The Company does not recognize a lease liability or right of use asset for leases with a term of 12 months or less. Operating lease right of use assets are presented as operating lease right of use assets on the consolidated balance sheet. To date, the Company has recognized a single lease cost under which the operating lease right of use and liability are amortized on a straight-line basis over the lease term, and categorized within Operating Expense in the Consolidated Statement of Operations. The operating lease cash flows are categorized under Net Cash Used in Operating Activities in the Consolidated Statement of Cash Flows. Variable costs are expensed in the period incurred. Since the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rates based on the information available at commencement date in determining the discount rate used to calculate the present value of lease payments. As the Company has no external borrowings, the incremental borrowing rates are determined using information on indicative borrowing rates that would be available to the Company based on the value, currency and borrowing term provided by financial institutions, adjusted for company and market specific factors. |
Inventories and Work in Progress | Inventories and Work in Progress Inventories are measured at the lower of cost or net realizable value at production costs calculated using the first-in, first-out Inventories are exclusively composed of work in progress relating to the production of the first batches that may be used for the commercialization. During the launch phase of a new product, any inventories of that product are written down to zero pending regulatory approval. |
Financial Assets and Liabilities | Financial Assets and Liabilities Financial assets, excluding cash and cash equivalents, consist exclusively of other receivables. Other receivables are non-derivative The Company also receives from time-to-time The amount resulting from the deemed benefit of the interest-free nature of the award is considered a subsidy for accounting purposes. This deemed benefit is determined by applying a discount rate equal to the rate of fungible treasury bonds over the time period that corresponds to the time period of the repayment of the advances. In the event of a change in payment schedule of the stipulated repayments of the conditional advances, the Company makes a new calculation of the net book value of the debt resulting from the discounting of the expected new future cash flows. The adjustment that results therefrom is recognized in the income statement for the fiscal year during which the modification is recognized. The Company carries its trade receivable at net realizable value. On a periodic basis, the Company evaluates its trade receivable and determines whether to provide an allowance or if any accounts should be written down and charged to expense as a bad debt. The Company generally does not require any security or collateral to support its receivables. During the years ended December 31, 2022 and December 31, 2021, the Company did not hold any derivative financial instruments. |
Fair Value Measurements | Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: • Level 1—Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2—Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable, either directly or indirectly. Fair value determined through the use of models or other valuation methodologies. • Level 3—Significant unobservable inputs for assets or liabilities that cannot be corroborated by market data. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available and includes situations where there is little market activity for the asset or liability. The asset’s or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The Company’s policy is to recognize transfers between levels of the fair value hierarchy in the period the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 1, 2, or 3 during the periods presented. The Company considers its cash and cash equivalents, accounts receivable and accounts payable to reflect their fair value given their short maturity and risk profile of the counterparty. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash includes cash on hand and demand deposits with banks. Cash equivalents include short-term, highly liquid investments, with a remaining maturity at the date of purchase of three months or less for which the risk of changes in value is considered to be insignificant. Demand deposits therefore meet the definition of cash equivalents. Cash equivalents are measured at fair value using level 1 and any changes are recognized in the Consolidated Statements of Operations and Comprehensive Loss. |
Concentration of Credit Risk | Concentration of Credit Risk The Company has no significant off-balance losses |
Share Capital | Share Capital Ordinary shares are classified under Shareholders’ Equity. The costs of share capital transactions that are directly attributable to the issue of new shares or options are recorded in the Consolidated Financial Statements in Shareholders’ Equity as a deduction from the proceeds from the issue, net of tax. |
Employee benefits | Employee benefits Depending on the laws and practices of the countries in which the Company operates, employees may be entitled to compensation when they retire or to a pension following their retirement. For state-managed plans and other defined contribution plans, the Company recognizes them as expenses when they become payable, with the Company’s commitment being limited to our contributions. The liability with respect to defined benefit plans is estimated using the following main assumptions: • discount rate; • future salary increases; • employee turnover; and • mortality tables. The difference between the amount of the liability at the beginning of a fiscal year and at the close of that year is recognized through profit or loss for the portion representing the costs of services rendered and through other comprehensive income (loss) for the portion representing the actuarial gains and losses. Service costs are recognized in profit or loss and are allocated by function. Actuarial gains and losses result from changes in actuarial assumptions and from differences between assumed and actual experience. Gains and losses recorded in other comprehensive income (loss) are amortized over expected remaining service periods to the extent they exceed 10% of the projected benefit obligation for the defined benefit plan. The Company’s payments for the defined-contribution plans are recognized as expenses in the Consolidated Statements of Operations and Comprehensive Loss for the period with which they are associated. |
Contingencies | Contingencies An estimated loss from a loss contingency is recognized if the following two conditions are met: • information available before the consolidated financial statements are issued indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the consolidated financial statements; and • the amount of loss can be reasonably estimated. With respect to litigations and claims that may result in a liability to be recognized, we exercise significant judgment in measuring and recognizing a liability or determining exposure to contingent liabilities that are related to pending litigation or other outstanding claims. These judgment and estimates are subject to change as new information becomes available. |
Operating Income | Operating Income The Company accounts for revenue when the amount can be reliably assessed, future economic benefits are likely to benefit the Company, and specific criteria are met for the Company’s business, which is in accordance with ASC 606 for the collaboration agreement with Nestlé Health Science. |
Other operating income | Other operating income Research Tax Credit The Research Tax Credit ( Crédit d’Impôt Recherche ) is granted to companies by the French tax authorities in order to encourage them to conduct technical and scientific research. Companies that prove that they have expenditures that meet the required criteria receive a tax credit that can be used against the payment of the income tax due for the fiscal year in which the expenditures were made and the next three fiscal years, or, as applicable, can be reimbursed for the excess portion. The expenditures taken into account for the calculation of the research tax credit involve only research expenses. In the fiscal year ended December 31, 2021, the Company recovered its Small and Medium-sized Enterprises, or SMEs, status under EU law, and became therefore eligible again for the immediate reimbursement of the Research Tax Credit. During the year ended December 31, 2022, the Company received the reimbursement of $ 26.1 million of the 2019, 2020 and 2021 fiscal year research tax credit. Collaboration agreement with Nestlé Health Science The Company entered into research and development collaboration agreements that may consist of non-refundable Non-refundable Milestone payments represent amounts received depending upon the achievement of certain scientific, regulatory, or commercial milestones. They are recognized when the triggering event has occurred, there are no further contingencies or services to be provided with respect to that event, and the co-contracting The Company recognizes income under the percentage-of-completion |
Research and Development Expenditures | Research and Development Expenditures Research and development expenditures are charged to expense as costs are incurred in performing research and development activities. Research and development costs include all direct costs, including salaries, share-based payments and benefits for research and development personnel, outside consultants, costs of clinical trials, costs related to manufacturing clinical study materials, sponsored research, clinical trials insurance, other outside costs, depreciation, and facility costs related to the development of drug candidates. The Company records upfront, non-refundable Certain research and development projects are, or have been, partially funded by collaboration agreements, and the expenses related to these activities are included in research and development costs. The Company records the related reimbursement of research and development costs under these agreements as income in the period in which such costs are incurred. Please refer to Collaboration agreement with Nestlé Health Science for further detail. |
Share-based payments | Share-based payments Since its incorporation, the Company has established several plans for equity compensation issued in the form of employee warrants (bons de souscription de parts de créateur d’entreprise or “BCEs”), stock options (“SO”), and restricted stock units (“RSUs”) granted to employees and/or executives. The company has also established several plans for equity compensation issued in the form of “share warrants” (bons de souscription d’actions or “BSAs”) granted to non-employee These awards are measured at their fair value on the date of grant. Except for RSUs, fair value is estimated using Black and Scholes models that require inputs based on certain subjective assumptions, including the expected term of the award, and the conditions of each equity plan. The fair value is amortized in personnel expenses (allocated by function in the Consolidated Statements of Operations and Comprehensive Loss) on a straight-line basis over the requisite service period, and such expense is reduced for estimated forfeitures, with a corresponding increase in shareholders’ equity. The determination of the requisite service period and the estimate of RSUs awards that are expected to vest depends on the legal interpretation of the RSUs award agreements with employees under the French labor laws and related jurisprudence. Changes in interpretations could significantly impact the accounting for the share-based payments. At each closing date, the Company re-assesses The awards are not subject to any market conditions. |
Income Tax | Income Tax Income taxes are accounted for under the asset and liability method of accounting. Deferred taxes are recognized for the future tax consequences attributable to temporary differences between the financial reporting carrying amounts and tax bases of assets and liabilities, and on tax losses, using the liability method. Differences are defined as temporary when they are expected to reverse within a foreseeable future. The Company may only recognize deferred tax assets on net operating losses if, based on the projected taxable incomes within the next three years, management determines that it is probable that future taxable profit will be available against which the unused tax losses and tax credits can be utilized. As a result, the measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance for any tax benefits which are not expected to be realized. If future taxable profits are considerably different from those forecasted that support recording deferred tax assets, the Company will have to revise downwards or upwards the amount of deferred tax assets, which would have a significant impact on the Company’s financial results. Tax assets and liabilities are not discounted. Amounts recognized in the Consolidated Financial Statements are calculated at the level of each tax entity included in the consolidation scope. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. |
Uncertain tax position | Uncertain tax position Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. |
Segment Information | Segment Information The Company operates in a single operating segment: the conducting of research and development of epicutaneous immunotherapy products in order to market them in the future. The assets, liabilities, and operating losses recognized are primarily located in France. |
Other Items in the Comprehensive Loss | Other Items in the Comprehensive Loss Comprehensive loss is comprised of net income(loss) and other comprehensive income (loss). Other comprehensive income (loss) includes changes in equity that are excluded from net income (loss), such as foreign currency translation adjustments. These changes in equity are presented net of tax. |
Net Loss Per Share | Net Loss Per Share The Company calculates basic and diluted net loss per ordinary share by dividing the net loss by the weighted-average number of ordinary shares outstanding during the period. For the years ended December 31, 2022 and 2021, the Company has excluded the effects of all potentially dilutive shares, which include outstanding ordinary stock options, warrants to purchase ordinary shares, and restricted stock units, from the weighted-average number of ordinary shares outstanding as their inclusion in the computation for these years would be anti-dilutive due to net losses incurred. |
Subsequent Events | Subsequent Events The Consolidated Statements of Financial Position and the Consolidated Statements of Operations and Comprehensive Loss of the Company are adjusted to reflect the subsequent events that alter the amounts related to the situations that existed as of the end of the period covered. The Company has evaluated subsequent events from the balance sheet date through March 2, 2023, the date at which the consolidated financial statements are issued. |
Accounting Pronouncements adopted in 2022 | Accounting Pronouncements adopted in 2022 The Company has not adopted any new accounting pronouncements in 2022 to date. |
Accounting Pronouncements issued not yet adopted | Accounting Pronouncements issued not yet adopted In June 2016, the FASB issued ASU 2016-13—Financial 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. |
Nature of the business and pr_3
Nature of the business and principles and accounting methods (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of property, plant and equipment, useful life | Depreciation is calculated on a straight-line basis over the assets’ estimated useful lives as follows: PROPERTY, PLANT, AND EQUIPMENT ITEM PERIOD DEPRECIATION Laboratory equipment and technical facilities 3 to 10 years Building fixtures and leasehold improvements 5 to 9 years Office equipment and furniture 5 years Computer equipment 3 years |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: December 31, 2022 2021 Cash 30,104 31,427 Cash equivalent s 179,090 45,874 Total cash and cash equivalent s 209,194 77,301 Bank overdrafts — — Total net cash and cash equivalents as reported in the statement of cash flow 209,194 77,301 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Current Assets [Abstract] | |
Summary of Other Current Asset | Other current assets consisted of the following: December 31, 2022 2021 Research tax credit 5,792 28,092 Other tax claims 3,903 3,561 Prepaid expenses 2,680 4,149 Other receivables 1,504 1,282 Total 13,880 37,085 |
Summary of Research Tax Credit | The variance in Research Tax Credit during the two years disclosed is presented as follow: Amount in Opening balance sheet receivable as of January 1, 2021 22,650 + 2021 fiscal year research tax credit 7,505 - Payment received — - Adjustment and currency translation effect (2,063 ) Closing balance sheet receivable as of December 31, 2021 28,092 Of which—Non-current — Of which—Current portion 28,092 Amount in Opening balance sheet receivable as of January 1, 2022 28,092 + 2022 fiscal year research tax credit 5,718 - Payment received (26,117 ) - Adjustment and currency translation effect (1,901 ) Closing balance sheet receivable as of December 31, 2022 5,792 Of which—Non-current — Of which—Current portion 5,792 |
Property, Plant, and Equipment
Property, Plant, and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property and equipment | Property and equipment, net consisted of the following: 1/1/2021 Currency Increase Decrease 12/31/2021 Laboratory equipment 23,072 (1,783 ) 853 (708 ) 21,434 Building fixtures 7,767 (408 ) 48 (3,449 ) 3,958 Office equipment 970 (39 ) — (67 ) 864 Computer equipment 1,846 (92 ) 9 (464 ) 1,299 Property, plant, and equipment in progress 7,828 (477 ) (2,960 ) 4,390 Total, gross 41,482 (2,799 ) 910 (7,648 ) 31,945 Less accumulated amortization and depreciation (16,690 ) 1,109 (4,437 ) 6,219 (13,799 ) Total, net 24,792 (1,690 ) (3,527 ) (1,429 ) 18,146 1/1/2022 Currency Increase Decrease Relassification 12/31/2022 Laboratory equipment 21,434 (1,246 ) — — 270 20,459 Building fixtures 3,958 (196 ) 55 (604 ) 3,214 Office equipment 864 (25 ) 74 (428 ) 485 Computer equipment 1,299 (65 ) 16 — 8 1,258 Property, plant, and equipment in progress 4,390 (252 ) 608 — (278 ) 4,468 Total, gross 31,945 (1,783 ) 754 (1,032 ) — 29,884 Less accumulated amortization and depreciation (13,799 ) 703 (2,723 ) 1,031 — (14,788 ) Total, net 18,146 (1,080 ) (1,968 ) (1 ) — 15,096 |
Lease contracts (Tables)
Lease contracts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Lessee Disclosure [Abstract] | |
Summary of Operating Leases Future Minimum Payments Receivable | Future minimum lease payments under the Company’s operating leases’ right of use as of December 31, 2022 and 2021, are as follows: December 31, 2022 December 31, 2021 Real Other Total Real Other Total Current portion 1,972 79 2,051 3,361 77 3,438 Year 2 1,168 74 1,243 3,124 23 3,147 Year 3 65 6 71 2,299 18 2,317 Year 4 — — — 771 1 773 Year 5 — — — 790 — 790 Thereafter — — — 1,220 — 1,220 Total minimum lease payments 3,204 160 3,364 11,565 119 11,684 Less: Effects of discounting (325 ) (17 ) (343 ) (1,526 ) (8 ) (1,534 ) Present value of operating lease 2,879 143 3,021 10,039 111 10,150 Less: current portion (1,823 ) (71 ) (1,894 ) (2,929 ) (74 ) (3,003 ) Long-term operating lease 1,055 72 1,127 7,110 37 7,147 Weighted average remaining lease term (years) 1.40 — 4.14 2.01 Weighted average discount rate 3.00 % 2.45 % 4.84 % 3.32 % |
Summary of Rent expenses | Rent expense presented in the consolidated statement of operations and comprehensive loss was: December 31, 2022 2021 Operating lease expense 1,800 3,027 Net termination impact (1,657 ) — |
Summary of Supplemental cash flow information related to our operating leases | Supplemental cash flow information related to operating leases is as follows for the period December 31, 2022 and 2021: December 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 2,195 2,879 |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Assets, Noncurrent Disclosure [Abstract] | |
Summary of Other non-current assets | Other non-current December 31, 2022 2021 FX facility collateral account 3,739 3,969 Deposits, pledged securities and other non-current 1,773 2,665 Liquidity contract 312 199 Total other non-current 5,824 6,833 |
Trade payables and Other Curr_2
Trade payables and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Liabilities, Current [Abstract] | |
Summary of Other Current Liabilities | Other current liabilities consisted of the following: December 31, 2022 2021 Social debt 5,872 6,708 Deferred income 2,137 4,146 Tax liabilities 69 182 Other debts 1,131 1,325 Total 9,210 12,361 |
Financial debt and Other Non-_2
Financial debt and Other Non-Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Long Term Debt And Other Noncurrent Liabilities Disclosure [Abstract] | |
Summary of Conditional Advance | The table below presents the details of the debts recorded on the statement of financial position by the type of conditional advance: BPI Balance sheet debt at start of period 01/01/2021 1,267 Repayments (689 ) Other movements (68 ) Balance sheet debt as at 12/31/2021 510 Of which—Non-current — Of which—Current portion 510 Stated interest rate No Discount rate 3.2 % Maturity (in years) 2-7 BPI Balance sheet debt at start of period 01/01/2022 510 Repayments (474 ) Other movements (36 ) Balance sheet debt as at 12/31/2022 — Stated interest rate No Discount rate 3.2 % Maturity (in years) 2-7 |
Summary of Maturity of Financial Liabilities | The following table shows the maturity of the Company’s liabilities (except leases disclosed in Note 7—“Lease contract”): Carrying 2023 2024 Thereafter Other liabilities 13,945 9,210 4,735 — Supplier accounts payable and related payables 14,473 14,473 — — Total liabilities 28,418 23,683 4,735 — |
Share Capital Issued (Tables)
Share Capital Issued (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Nonvested Share Activity | The changes in number of outstanding prefunded warrants are as follows: Prefunded Balance as of December 31, 2021 — Granted during the period 28,276,331 Forfeited during the period — Exercised/released during the period — Expired during the period — Balance as of December 31, 2022 28,276,331 |
Summary of Changes in the Share Capital of the Company | The table below presents the changes in the share capital of the Company as of December 31, 2021 and 2022: (Amounts in thousands of U.S. Dollars except share and per share data) Date Nature of the transactions Share capital* Additional paid-in Number of shares Balance as of December 31, 2020 6,518 1,152,042 54,929,187 02/22/2021 Capital increase by employee warrants 1 46 7,500 05/12/2021 Capital increase by employee warrants 1 62 10,200 05/17/2021 Capital increase by employee warrants 1 64 10,500 05/18/2021 Capital increase by employee warrants 1 66 10,800 05/19/2021 Retained earnings charged on share premium (797,823 ) 05/21/2021 Capital increase by employee warrants 1 68 11,100 05/26/2021 Capital increase by employee warrants 3 129 21,000 05/28/2021 Capital increase by employee warrants 1 70 11,400 06/10/2021 Issuance of share warrants 279 10/07/2021 Capital increase by ordinary shares 2 (2 ) 20,000 11/24/2021 Capital increase by ordinary shares 7 (7 ) 58,675 12/20/2021 Capital increase by ordinary shares 1 (1 ) 5,400 12/31/2021 Share-based payments 3,122 Balance as of December 31, 2021 6,538 358,115 55,095,762 03/23/2022 Capital increase by ordinary shares 0 (0 ) 775 05/10/2022 Capital increase by ATM program 637 13,442 6,036,238 05/12/2022 Retained earnings charged on share premium (95,209 ) 05/19/2022 Capital increase by employee warrants 1 (1 ) 5,000 05/24/2022 Capital increase by employee warrants 3 (3 ) 26,135 06/09/2022 Capital increase by ordinary shares 3,530 88,743 32,855,669 06/09/2022 Capital increase by share warrants 88,094 06/10/2022 Capital increase by employee warrants 0 13 3,100 07/08/2022 Capital increase by employee warrants 0 10 2,513 09/23/2022 Capital increase by ordinary shares 0 (0 ) 249 11/19/2022 Capital increase by ordinary shares 0 (0 ) 2,500 11/22/2022 Capital increase by ordinary shares 3 (3 ) 30,625 11/24/2022 Capital increase by ordinary shares 8 (8 ) 78,579 12/31/2021 Share-based payments 5,026 Balance as of December 31, 2022 10,720 458,220 94,137,145 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Summary of Share-based Payment Arrangement, Other Information | The Board of Directors has been authorized by the General Meeting of the Shareholders to grant restricted stock units (“RSU”), stock options plan (“SO”), and non-employee Share-based General meeting of Board of directors Grant date Number granted BSA 12/9/11 9/25/12 9/25/12 30,000 BSA 6/4/13 7/25/13 7/25/13 73,000 SO 12/9/11 9/18/13 9/18/13 518,000 BSA 6/3/14 3/24/15 3/24/15 10,000 SO 6/3/14 6/23/15 6/23/15 120,000 BSA 6/23/15 11/19/15 11/19/15 22,500 BSA 6/23/15 12/15/15 2/15/16 90,000 SO 6/3/14 4/6/16 4/21/16 33,000 SO 6/3/14 6/21/16 6/21/16 110,000 BSA 6/21/16 6/21/16 8/21/16 20,000 SO 6/3/14 6/21/16 9/15/16 9,300 SO 6/3/14 6/21/16 10/17/16 16,500 BSA 6/21/16 12/9/16 2/9/16 59,000 SO 6/3/14 6/21/16 12/9/16 74,960 RSU 9/21/15 3/14/17 3/14/17 22,500 RSU 9/21/15 4/20/17 4/20/17 24,000 BSA 6/15/17 6/15/17 8/15/17 9,000 SO 6/3/14 6/15/17 6/15/17 126,000 SO 6/15/17 6/15/17 6/15/17 111,600 SO 6/15/17 6/15/17 9/15/17 52,600 SO 6/15/17 11/17/17 12/5/17 625,200 BSA 6/15/17 5/2/18 7/2/18 44,000 RSU 6/22/18 6/22/18 6/22/18 486,153 RSU 6/22/18 9/6/18 9/6/18 450 SO 6/22/18 9/6/18 9/6/18 65,000 SO 6/22/18 6/22/18 10/15/18 76,700 RSU 6/22/18 11/1/18 11/1/18 57,000 SO 6/22/18 11/29/18 11/29/18 350,000 RSU 6/22/18 12/12/18 12/12/18 16,250 RSU 6/22/18 12/12/18 12/17/18 3,000 SO 6/22/18 3/4/19 3/20/19 547,100 RSU 6/22/18 5/10/19 5/10/19 100,000 SO 5/24/19 5/24/19 5/24/19 150,000 SO 5/24/19 7/1/19 7/1/19 403,400 SO 5/24/19 7/1/19 7/22/19 75,000 RSU 5/24/19 10/11/19 10/11/19 40,000 SO 5/24/19 10/11/19 1/15/20 94,500 RSU 5/24/19 10/11/19 3/16/20 5,000 RSU 4/20/20 4/20/20 4/29/20 20,000 RSU 4/20/20 11/24/20 11/24/20 475,000 SO 4/20/20 11/24/20 11/24/20 1,216,200 RSU 4/20/20 3/23/21 3/23/21 24,900 SO 4/20/20 3/23/21 3/23/21 75,200 RSU 5/19/21 5/19/21 5/19/21 20,000 BSA 5/19/21 5/19/21 6/3/21 39,185 RSU 5/19/21 11/22/21 11/22/21 257,300 SO 5/19/21 11/22/21 11/22/21 1,107,300 RSU 5/19/21 5/12/22 5/12/22 3,200 SO 5/19/21 5/12/22 5/12/22 19,000 RSU 5/12/22 7/29/22 7/29/22 66,700 SO 5/12/22 7/29/22 7/29/22 135,500 RSU 5/12/22 11/21/22 11/21/22 519,650 SO 5/12/22 11/21/22 11/21/22 1,771,786 |
Summary of Fair Value of the Warrants has been Estimated Unsing the Cox-Ross Rubinstein Binomial Option Pricing Model | The fair value of the warrants has been estimated using the Cox-Ross Warrant fair value assumptions during the year ended December 31, 2021 Weighted average share price at grant date (in €) 10.75 Weighted average expected volatility 90.0 % Weighted average risk-free interest rate (0.53 )% Weighted average expected term (in years) 3.21 Dividend yield — Weighted average fair value of warrants (in €) — |
Summary of Stock Options Activity | The following table summarizes all stock options activity during the year ended December 31, 2021: Number of SO Weighted- Weighted- Aggregate Balance as of December 31, 2020 2,610,510 18.75 8.17 198.8 Granted during the period 1,182,900 6.09 — — Forfeited during the period (162,200 ) 4.89 — — Exercised during the period — — — — Expired during the period — — — — Balance as of December 31, 2021 3,631,210 15.25 8.67 Options exercisable as of December 31, 2021 878,560 29.50 6.13 — The following table summarizes all stock options activity during the year ended December 31, 2022: Number of SO Weighted- Weighted- Aggregate Balance as of December 31, 2021 3,631,210 15.25 8.67 Granted during the period 1,926,286 3.12 — — Forfeited during the period (238,715 ) 12.22 — — Exercised during the period 5,613 4.16 — — Expired during the period — — — — Balance as of December 31, 2022 5,313,169 11.00 8.41 Options exercisable as of December 31, 2022 1,331,508 20.20 6.69 — |
Summary of Stock Options Valuation Assumptions | The Company estimated the following assumptions for the calculation of the fair value of the stock options: Assumptions per year ended, December 31, Stock options per grant date Prior to 2017 2018 2019 2020 2021 2022 Weighted average shares price at grant date in € 36.69 45.49 31.86 15.26 5.54 5.71 2.33 Weighted average expected volatility 45.4 % 41.8 % 47.1 % 70.8 % 87.3 % 90.2 % 98.9 % Weighted average risk-free interest rate 1.0 % (0.1 )% 0.3 % (0.1 )% (0.5 )% (0.06 )% 2.2 % Weighted average expected term (in years) 6.7 6 6 6 6 6 6 Dividend yield 0 0 0 0 0 0 0 Weighted average fair value of stock-options (in €) 17.66 17.16 13.67 9.65 3.90 4.17 2.23 |
Summary of RSU Activity | The following table summarizes all RSUs activity for the year ended December 31, 2021: Number of Weighted Balance as of December 31, 2020 1,118,745 20.35 Granted during the period 302,200 6.13 Forfeited during the period (96,350 ) 6.74 Released during the period (84,075 ) 8.20 Expired during the period — — Balance as of December 31, 2021 1,240,520 18.77 The following table summarizes all RSUs activity for t h Number of Weighted Balance as of December 31, 2021 1,240,520 18.77 Granted during the period 589,550 2.67 Forfeited during the period (92 326 ) 4.96 Released during the period (118,967 ) 5.15 Expired during the period — — Balance as of December 31, 2022 1,618,778 14.69 |
Summary of Share-Based Payments Expenses | December 31, 2022 2021 Research and development SO (1 462 ) (759 ) RSU (841 ) (887 ) Sales and marketing SO (31 ) (209 ) RSU (4 ) (104 ) General and administrative SO (2,374 ) (841 ) RSU (315 ) (322 ) Total share-based compensation (expense) income (5,026 ) (3,122 ) |
BSA Warrants [Member] | |
Summary of Warrants Activity | The following table summarizes all BSA activity during the year ended December 31, 2021: Number of Weighted- Weighted- Aggregate Balance as of December 31, 2020 218,008 52.78 5.36 — Granted during the period 39,185 9.18 — — Forfeited during the period — — — — Exercised during the period — — — — Expired during the period (500 ) 5.13 — — Balance as of December 31, 2021 256,693 47.51 4.35 — Warrants exercisable as of December 31, 2021 256,693 47.51 4.35 — The following table summarizes all BSA warrants activity during the year ended December 31, 2022: Number of Weighted- Weighted- Aggregate Balance as of December 31, 2021 256,693 47.51 4.35 — Granted during the period — — — — Forfeited during the period — — — — Exercised during the period — — — — Expired during the period (5,000 ) 8.59 — — Balance as of December 31, 2022 251,693 48.29 4.36 — Warrants exercisable as of December 31, 2022 251,693 48.29 4.36 — |
Contingencies (Tables)
Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Loss Contingency [Abstract] | |
Summary of Non-current Contingencies and Current Contingencies | Non-current December 31, 2022 2021 Current contingencies 3,944 4,095 Non-current 16,680 6,758 Total contingencies 20,625 10,853 |
Summary of Movement in Provisions | The table below shows movements in contingencies: Pension Collaboration Other Total At January 1, 2021 937 3,956 2,649 7,542 Increases in liabilities 181 6,420 47 6,649 Used liabilities — — (1,634 ) (1,634 ) Reversals of unused liabilities — — (920 ) (920 ) Net interest related to employee benefits, and unwinding of discount 3 — — 3 Actuarial gains and losses on defined-benefit plans (35 ) — — (35 ) Currency translation effect (78 ) (577 ) (98 ) (753 ) At December 31, 2021 1,008 9,800 45 10,853 Of which Current — 4,049 45 4,095 Of which Non-current 1,008 5,750 — 6,758 Pension Collaboration Other Total At January 1, 2022 1,008 9,800 45 10,853 Increases in liabilities 105 12,455 — 12,560 Used liabilities — — (42 ) (42 ) Reversals of unused liabilities — (1,984 ) — (1,984 ) Net interest related to employee benefits, and unwinding of discount — — — — Actuarial gains and losses on defined-benefit plans (262 ) — — (262 ) Currency translation effect (61 ) (436 ) (3 ) (500 ) At December 31, 2022 790 19,835 — 20,625 Of which Current — 3,944 — 3,944 Of which Non-current 790 15,891 — 16,680 |
Summary of the Estimation of the Retirement Commitments | As part of the estimation of the retirement commitments, the following assumptions were used for all categories of employees: December 31, 2022 2021 % Social security contributions 50.0 % 50.0 % Salary increases 2.0 % 2.0 % Discount rate—Iboxx Corporates AA 10+ 3.77 % 0.98 % Expected staff turnover 10.0 % 10.0 % Estimated retirement age 65 65 Life table TGH05-TGF05 Collective agreement National Collective Agreement of |
Operating Income (Tables)
Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Income and Expenses [Abstract] | |
Schedule of operating income | The operating income is broken down in the following manner: December 31, 2022 2021 Research tax credit 5,718 7,505 Other operating income (874 ) (1,797 ) Total 4,844 5,708 |
Allocation of Personnel Expen_2
Allocation of Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Operating Expenses [Abstract] | |
Summary of Allocation of Personnel Expenses By Function | Allocation of Personnel Expenses by Function: December 31, 2022 2021 Research and Development expenses 13,055 14,596 Sales and Marketing expenses 914 1,885 General and Administrative expenses 10,008 9,357 Restructuring* — 5,296 Total personnel expenses 23,977 31,135 * Restructuring personnel expenses excluding reversal for the year ended December 31, 2021. |
Summary of Allocation of Personnel Expenses By Nature | Allocation of Personnel Expenses by Nature: December 31, 2022 2021 Wages and salaries 14,802 18,017 Social security contributions 3,206 8,630 Expenses for pension commitments 943 1,366 Share-based payments 5,026 3,122 Total 23,977 31,135 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Summary of Reconciliation Between the Effective and Nominal Income Tax Expense | The following table shows the reconciliation between the effective and nominal tax expense at the nominal standard French rate 25% as of December 31, 2022 and 26.5% as of December 31, 2021 (excluding additional contributions): December 31, 2022 2021 (Loss) before taxes (96,204 ) (98,189 ) Theoretical company tax rate 25.00 % 26.50 % Nominal tax expense 24,051 26,020 Increase/decrease in tax expense arising from: Research tax credit 1,430 1,990 Share-based compensation (784 ) (104 ) Other permanent differences (100 ) (86 ) Non recognition of deferred tax assets mainly related to tax losses (24,746 ) (25,882 ) Other differences 79 (1,557 ) Effective tax expenses—current (70 ) 381 Effective tax expenses—deferred — — Effective tax rate (0.07 )% 0.39 % |
Summary of Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred tax assets are comprised of the following: December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards 273,964 263,086 Share-based compensation 1,102 5,521 Personnel-related accruals 389 376 Pension retirement obligations 197 252 Leases 6 518 Other 5,248 2,760 Total deferred tax assets 280,907 272,513 Less: Valuation allowance (280,907 ) (272,513 ) Net deferred tax assets — — |
Relationships with Related Pa_2
Relationships with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule of compensation payable to related party [Abstract] | |
Summary of Relationships with Related Parties | The compensation amounts for 2022 presented below, which were awarded to the Directors and Officers of the Company totaled $8 million. The recipients of this compensation are “related parties” under applicable French law and may not be considered executive officers or related parties under comparable SEC and Nasdaq rules and regulations applicable to the Company. December 31, 2022 2021 Short-term benefits 4,625 5,128 Post-employment benefits 33 67 Termination benefits 24 280 Share-based payments 3,355 1,556 Total 8,037 7,031 |
Schedule of Amounts Payable to Related Parties | Amounts payable to related parties as of December 31, 2022 and 2021 are as follows: December 31, 2022 2021 Compensation 2,009 1,820 Pension obligations 83 156 Total 2,092 1,976 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share, Basic [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The computations for basic and diluted loss per share were as follows (in thousands of U.S. Dollars except share and per share data): December 31, 2022 2021 Net loss (96,274 ) (97,809 ) Weighted average number of ordinary shares 77,384,133 54,916,937 Basic and diluted net loss per share attributable to ordinary shareholders ($/share) (1.24 ) (1.78 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following is a summary of the ordinary share equivalents which were excluded from the calculation of diluted net loss per share for the periods indicated in number of potential shares: December 31, 2022 2021 Non-employee 251,693 256,693 Employee warrants — — Stock-options 5,313,169 3,631,210 Restricted stock units 1,618,778 1,240,520 Prefunded warrants 28,276,331 — |
Nature of the business and pr_4
Nature of the business and principles and accounting methods - Additional Information (Detail) $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | |
Subsidiary or Equity Method Investee [Line Items] | ||||||
Cash and cash equivalents | $ 209,194 | $ 77,301 | ||||
Derivative Assets (Liabilities) Net | 0 | $ 0 | ||||
Reimbursement of Tax Credit Forwards | $ 26,100 | |||||
Proceeds From Issuance Of Common Stock | € | € 98,567,007 | |||||
American Depositary Shares [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Proceeds From Issuance Of Common Stock | $ 15,300 | |||||
American Depositary Shares [Member] | At The Market [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Proceeds From Issuance Of Common Stock | $ 100,000 | |||||
Private Investment In Public Equity [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Proceeds From Issuance Of Common Stock | $ 194,000 | € 181,000,000 | ||||
Minimum [Member] | Computer Software, Intangible Asset [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 1 year | 1 year | ||||
Maximum [Member] | Computer Software, Intangible Asset [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | 3 years | ||||
Subsidiaries [Member] | US Subsidiary [Member] | DBV Technologies Inc [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Date of Incorporation | Apr. 07, 2014 | Apr. 07, 2014 | ||||
Percentage of ownership | 100% | |||||
Subsidiaries [Member] | Australian Subsidiary [Member] | DBV Australia Pty Ltd [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Date of Incorporation | Jul. 03, 2018 | Jul. 03, 2018 | ||||
Percentage of ownership | 100% | |||||
Subsidiaries [Member] | French Subsidiary [Member] | DBV Pharma [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Date of Incorporation | Dec. 21, 2018 | Dec. 21, 2018 | ||||
Percentage of ownership | 100% | |||||
Subsidiaries [Member] | Canadian Subsidiary [Member] | DBV Canada Ltd [Member] | ||||||
Subsidiary or Equity Method Investee [Line Items] | ||||||
Date of Incorporation | Aug. 13, 2018 | Aug. 13, 2018 | ||||
Percentage of ownership | 100% |
Nature of the business and pr_5
Nature of the business and principles and accounting methods - Summary of Property, Plant and Equipment, Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Laboratory Equipment And Technical Facilities [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Laboratory Equipment And Technical Facilities [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 10 years |
Building fixtures and leasehold improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Building fixtures and leasehold improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 9 years |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Computer Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Significant Events and Transa_2
Significant Events and Transactions of the Periods - Additional Information (Detail) € / shares in Units, $ / shares in Units, $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jan. 31, 2020 | May 31, 2022 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) $ / shares shares | Jun. 30, 2022 EUR (€) shares | Dec. 31, 2022 EUR (€) € / shares shares | Jun. 30, 2022 € / shares shares | May 31, 2022 € / shares | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 59,269,629 | ||||||
Shares Issued, Price Per Share | € / shares | € 2.9 | ||||||
Proceeds From Issuance Of Common Stock | € | € 98,567,007 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share) | $ 3.11 | € 2.9 | |||||
Class of Warrant or Right, Issue price | € / shares | 0.1 | ||||||
American Depositary Shares | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 6,036,238 | ||||||
Shares Issued, Price Per Share | (per share) | $ 1.27 | € 2.41 | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.0531 | ||||||
Proceeds From Issuance Of Common Stock | $ | $ 15.3 | ||||||
Payments of Stock Issuance Costs | $ | $ 14.1 | ||||||
Private Investment In Public Equity [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 32,855,669 | 32,855,669 | |||||
Shares Issued, Price Per Share | (per share) | $ 3.22 | € 3 | |||||
Proceeds From Issuance Of Common Stock | $ 194 | € 181,000,000 | |||||
Payments of Stock Issuance Costs | $ | $ 180.4 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 28,276,331 | 28,276,331 | |||||
Private Placement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 1.0739 | 1.0739 | |||||
ViaskinTM Clinical Program For Children Aged Between Four to Eleven [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
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 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of breakdown of cash and cash equivalents (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and Cash Equivalents, at Carrying Value [Abstract] | ||
Cash | $ 30,104 | $ 31,427 |
Cash equivalents | 179,090 | 45,874 |
Total cash and cash equivalents as reported in statement of financial position | 209,194 | 77,301 |
Bank overdrafts | 0 | 0 |
Total net cash and cash equivalents as reported in the statement of cash flow | $ 209,194 | $ 77,301 |
Other Current Assets - Summary
Other Current Assets - Summary of Other Current Asset (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other Assets [Abstract] | ||
Research tax credit | $ 5,792 | $ 28,092 |
Other tax claims | 3,903 | 3,561 |
Prepaid expenses | 2,680 | 4,149 |
Other receivables | 1,504 | 1,282 |
Total | $ 13,880 | $ 37,085 |
Other Current Assets - Summar_2
Other Current Assets - Summary Of Research Tax Credit (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Tax Credit Carryforward [Line Items] | ||
Opening balance | $ 28,092 | $ 22,650 |
+ 2022 fiscal year research tax credit | 5,718 | 7,505 |
- Payment received | (26,117) | 0 |
Adjustment and currency translation effect | (1,901) | (2,063) |
Closing balance | 5,792 | 28,092 |
Of which—Non-current portion | 0 | 0 |
Of which—Current portion | $ 5,792 | $ 28,092 |
Other Current Assets - Addition
Other Current Assets - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Other Current Assets [Abstract] | |
Reimbursement of Tax Credit Forwards | $ 26.1 |
Property, Plant, and Equipmen_2
Property, Plant, and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 2.7 | |
Amortization expense | $ 4.4 |
Property, Plant, and Equipmen_3
Property, Plant, and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | $ 31,945 | $ 41,482 | |
Currency translation effect | (1,783) | (2,799) | |
Increase in property, plant, and equipment | 754 | 910 | |
Decrease in property, plant, and equipment | (1,032) | (7,648) | |
Property, plant, and equipment ending balance | 29,884 | 31,945 | |
Less accumulated amortization and depreciation | (14,788) | (13,799) | $ (16,690) |
Total, net | 15,096 | 18,146 | $ 24,792 |
Currency translation effect [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Less accumulated amortization and depreciation | 703 | 1,109 | |
Total, net | (1,080) | (1,690) | |
Increase property plant and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Less accumulated amortization and depreciation | (2,723) | (4,437) | |
Total, net | (1,968) | (3,527) | |
Decrease property plant and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Less accumulated amortization and depreciation | 1,031 | 6,219 | |
Total, net | (1) | (1,429) | |
Reclassification property plant and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total, net | 0 | ||
Laboratory equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | 21,434 | 23,072 | |
Currency translation effect | (1,246) | (1,783) | |
Increase in property, plant, and equipment | 853 | ||
Decrease in property, plant, and equipment | (708) | ||
Property, plant, and equipment ending balance | 20,459 | 21,434 | |
Property, Plant and Equipment, Gross, Period Increase (Decrease) | 270 | ||
Building Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | 3,958 | 7,767 | |
Currency translation effect | (196) | (408) | |
Increase in property, plant, and equipment | 55 | 48 | |
Decrease in property, plant, and equipment | (604) | (3,449) | |
Property, plant, and equipment ending balance | 3,214 | 3,958 | |
Office Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | 864 | 970 | |
Currency translation effect | (25) | (39) | |
Increase in property, plant, and equipment | 74 | ||
Decrease in property, plant, and equipment | (428) | (67) | |
Property, plant, and equipment ending balance | 485 | 864 | |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | 1,299 | 1,846 | |
Currency translation effect | (65) | (92) | |
Increase in property, plant, and equipment | 16 | 9 | |
Decrease in property, plant, and equipment | (464) | ||
Property, plant, and equipment ending balance | 1,258 | 1,299 | |
Property, Plant and Equipment, Gross, Period Increase (Decrease) | 8 | ||
Property Plant And Equipment In Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment beginning balance | 4,390 | 7,828 | |
Currency translation effect | (252) | (477) | |
Increase in property, plant, and equipment | 608 | ||
Decrease in property, plant, and equipment | (2,960) | ||
Property, plant, and equipment ending balance | 4,468 | $ 4,390 | |
Property, Plant and Equipment, Gross, Period Increase (Decrease) | $ (278) |
Lease contracts - Summary of Op
Lease contracts - Summary of Operating Leases Future Minimum Payments Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current portion | $ 2,051 | $ 3,438 |
Year 2 | 1,243 | 3,147 |
Year 3 | 71 | 2,317 |
Year 4 | 0 | 773 |
Year 5 | 0 | 790 |
Thereafter | 0 | 1,220 |
Total minimum lease payments | 3,364 | 11,684 |
Less: Effects of discounting | (343) | (1,534) |
Present value of operating lease | 3,021 | 10,150 |
Less: current portion | (1,894) | (3,003) |
Long-term operating lease | 1,127 | 7,147 |
Real Estate [Member] | ||
Current portion | 1,972 | 3,361 |
Year 2 | 1,168 | 3,124 |
Year 3 | 65 | 2,299 |
Year 4 | 0 | 771 |
Year 5 | 0 | 790 |
Thereafter | 0 | 1,220 |
Total minimum lease payments | 3,204 | 11,565 |
Less: Effects of discounting | (325) | (1,526) |
Present value of operating lease | 2,879 | 10,039 |
Less: current portion | (1,823) | (2,929) |
Long-term operating lease | $ 1,055 | $ 7,110 |
Weighted average remaining lease term (years) | 1 year 4 months 24 days | 4 years 1 month 20 days |
Weighted average discount rate | 3% | 4.84% |
Other Asset [Member] | ||
Current portion | $ 79 | $ 77 |
Year 2 | 74 | 23 |
Year 3 | 6 | 18 |
Year 4 | 0 | 1 |
Year 5 | 0 | 0 |
Thereafter | 0 | 0 |
Total minimum lease payments | 160 | 119 |
Less: Effects of discounting | (17) | (8) |
Present value of operating lease | 143 | 111 |
Less: current portion | (71) | (74) |
Long-term operating lease | $ 72 | $ 37 |
Weighted average remaining lease term (years) | 2 years 3 days | |
Weighted average discount rate | 2.45% | 3.32% |
Lease contracts - Summary of Re
Lease contracts - Summary of Rent expenses (Detail) - Rent Expenses [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating lease expense | $ 1,800 | $ 3,027 |
Net termination impact | $ (1,657) | $ 0 |
Lease contracts - Summary of Su
Lease contracts - Summary of Supplemental cash flow information related to our operating leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash Flow, Operating Activities, Lessee [Abstract] | ||
Operating cash flows from operating leases | $ 2,195 | $ 2,879 |
Lease contracts - Additional in
Lease contracts - Additional information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating Lease, Right-of-Use Asset | $ 2,513 | $ 7,336 |
NEW JERSEY | ||
lease agreement for lease term | 3 years 2 months | |
Operating Lease, Right-of-Use Asset | $ 400 | |
Early Termination of Lease Offset By The Payment Of A One Time Lump Sum Early Termination Fee | 1,500 | |
Gain on termination of lease | $ 1,200 |
Other non-current assets - Addi
Other non-current assets - Additional Information (Detail) | Dec. 31, 2022 shares |
Other Assets, Noncurrent Disclosure [Abstract] | |
Treasury Stock, Shares | 149,793 |
Other non-current assets - Summ
Other non-current assets - Summary of Non Current Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Business Combination, Separately Recognized Transactions [Line Items] | ||
Other Assets, Noncurrent | $ 5,824 | $ 6,833 |
FX facility collateral account [Member] | ||
Business Combination, Separately Recognized Transactions [Line Items] | ||
Other Assets, Noncurrent | 3,739 | 3,969 |
Deposits, pledged securities and other non-current financial assets [Member] | ||
Business Combination, Separately Recognized Transactions [Line Items] | ||
Other Assets, Noncurrent | 1,773 | 2,665 |
Liquidity contract [Member] | ||
Business Combination, Separately Recognized Transactions [Line Items] | ||
Other Assets, Noncurrent | $ 312 | $ 199 |
Trade payables and Other Curr_3
Trade payables and Other Current Liabilities - Additional Information (Detail) $ in Millions | Dec. 31, 2022 USD ($) |
Nestl Health Science [Member] | |
Deferred revenues | $ 2.1 |
Trade payables and Other Curr_4
Trade payables and Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other current liabilities | $ 9,210 | $ 12,361 |
Social Debt [Member] | ||
Other current liabilities | 5,872 | 6,708 |
Deferred Incomes [Member] | ||
Other current liabilities | 2,137 | 4,146 |
Tax Liabilities [Member] | ||
Other current liabilities | 69 | 182 |
Other Debts [Member] | ||
Other current liabilities | $ 1,131 | $ 1,325 |
Financial debt and Other Non-_3
Financial debt and Other Non-Current Liabilities - Additional Information (Detail) € in Millions | Nov. 27, 2014 EUR (€) |
BPI Advance [Member] | Bpi France Financement [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Face Amount | € 3 |
Financial debt and Other Non-_4
Financial debt and Other Non-Current Liabilities - Summary of Conditional Advance (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
Balance sheet debt at start | $ 510 | $ 1,267 |
Balance sheet debt at end | $ 510 | |
Measurement Input, Discount Rate [Member] | ||
Debt Instrument [Line Items] | ||
Discount rate | 0.032 | 0.032 |
BPI Advance [Member] | ||
Debt Instrument [Line Items] | ||
Balance sheet debt at start | $ 510 | |
Repayments | (474) | $ (689) |
Other movements | (36) | (68) |
Balance sheet debt at end | $ 0 | 510 |
Of which—Non-current portion | 0 | |
Of which—Current portion | $ 510 | |
Stated interest rate | 0% | 0% |
BPI Advance [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Maturity (in years) | 2 years | 2 years |
BPI Advance [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Maturity (in years) | 7 years | 7 years |
Financial debt and Other Non-_5
Financial debt and Other Non-Current Liabilities - Summary of Maturity of Financial Liabilities (Detail) $ in Thousands | Dec. 31, 2022 USD ($) |
Business Combination, Separately Recognized Transactions [Line Items] | |
Carrying | $ 28,418 |
2023 | 23,683 |
2024 | 4,735 |
Other Liabilities [Member] | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Carrying | 13,945 |
2023 | 9,210 |
2024 | 4,735 |
Accounts Payable and Accrued Liabilities [Member] | |
Business Combination, Separately Recognized Transactions [Line Items] | |
Carrying | 14,473 |
2023 | $ 14,473 |
Share Capital Issued - Addition
Share Capital Issued - Additional Information (Detail) | 12 Months Ended | |||||
Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2022 EUR (€) € / shares shares | Dec. 31, 2020 USD ($) | |
Class of Stock [Line Items] | ||||||
Shares Issued, Price Per Share | € / shares | € 2.9 | |||||
Share capital | $ | $ 194,453,000 | $ 99,274,000 | $ 205,491,000 | |||
Warrants and Rights Outstanding | € | € 82,001,359.9 | |||||
Class of Warrant or Right, Unissued | 28,276,331 | 28,276,331 | ||||
Proceeds From Issuance Of Common Stock | € | € 98,567,007 | |||||
Share premium | $ 5,026,000 | 95,281,440.1 | 3,122,000 | |||
Common Stock, Shares Subscribed but Unissued | 32,855,669 | 32,855,669 | ||||
Stock Issued During Period, Value, New Issues | $ 106,377,000 | 3,285,566.9 | 515,000 | |||
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance | 6,113,200 | 6,113,200 | ||||
Prefunded warrants [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares Issued, Price Per Share | € / shares | € 0.1 | |||||
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | € | 100 | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 28,276,331 | 28,276,331 | ||||
Stock Issued During Period, Value, New Issues | € | € 2,827,633.1 | |||||
Share Capital | ||||||
Class of Stock [Line Items] | ||||||
Share capital | $ 10,720,399 | € 9,413,715 | ||||
Nominal value | € / shares | € 0.1 | |||||
Share capital authorized | 94,137,145 | 94,137,145 | ||||
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | $ 95,200,000 | € 81,200,000 |
Share Capital Issued - Schedule
Share Capital Issued - Schedule of Nonvested Share Activity (Detail) - Prefunded warrants [Member] | 12 Months Ended |
Dec. 31, 2022 shares | |
Class of Stock [Line Items] | |
Balance as of December 31, 2021 | 0 |
Granted during the period | 28,276,331 |
Forfeited during the period | 0 |
Exercised/released during the period | 0 |
Expired during the period | 0 |
Balance as of December 31, 2022 | 28,276,331 |
Share Capital Issued - Summary
Share Capital Issued - Summary of Changes in the Share Capital of the Company (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Class of Stock [Line Items] | |||
Share capital | $ 194,453 | $ 99,274 | $ 205,491 |
Additional paid-in capital | 458,221 | 358,115 | |
Share Capital Transaction As On 12/31/2021 | |||
Class of Stock [Line Items] | |||
Share capital | 6,538 | ||
Additional paid-in capital | $ 358,115 | ||
Number of shares | 55,095,762 | ||
Share Capital Transaction As On 01/01/2020 | |||
Class of Stock [Line Items] | |||
Share capital | 6,518 | ||
Additional paid-in capital | $ 1,152,042 | ||
Number of shares | 54,929,187 | ||
Share Capital Transaction As On 12/31/2022 | |||
Class of Stock [Line Items] | |||
Share capital | 10,720 | ||
Additional paid-in capital | $ 458,220 | ||
Number of shares | 94,137,145 | ||
Share Based Payments [Member] | Share Capital Transaction As On 12/31/2021 | |||
Class of Stock [Line Items] | |||
Additional paid-in capital | $ 5,026 | $ 3,122 | |
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 02/22/2021 | |||
Class of Stock [Line Items] | |||
Share capital | 1 | ||
Additional paid-in capital | $ 46 | ||
Number of shares | 7,500 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/12/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ 62 | ||
Number of shares | 10,200 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/17/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ 64 | ||
Number of shares | 10,500 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/18/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ 66 | ||
Number of shares | 10,800 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/21/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ 68 | ||
Number of shares | 11,100 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/26/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 3 | ||
Additional paid-in capital | $ 129 | ||
Number of shares | 21,000 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/28/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ 70 | ||
Number of shares | 11,400 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/19/2022 | |||
Class of Stock [Line Items] | |||
Share capital | 1 | ||
Additional paid-in capital | $ (1) | ||
Number of shares | 5,000 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 05/24/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 3 | ||
Additional paid-in capital | $ (3) | ||
Number of shares | 26,135 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 06/10/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 0 | ||
Additional paid-in capital | $ 13 | ||
Number of shares | 3,100 | ||
Capital Increase By Employee Warrants [Member] | Share Capital Transaction As On 07/08/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 0 | ||
Additional paid-in capital | $ 10 | ||
Number of shares | 2,513 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 10/07/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 2 | ||
Additional paid-in capital | $ (2) | ||
Number of shares | 20,000 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 11/24/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 7 | ||
Additional paid-in capital | $ (7) | ||
Number of shares | 58,675 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 12/20/2021 | |||
Class of Stock [Line Items] | |||
Share capital | $ 1 | ||
Additional paid-in capital | $ (1) | ||
Number of shares | 5,400 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 03/23/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 0 | ||
Additional paid-in capital | $ 0 | ||
Number of shares | 775 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 06/09/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 3,530 | ||
Additional paid-in capital | $ 88,743 | ||
Number of shares | 32,855,669 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 09/23/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 0 | ||
Additional paid-in capital | $ 0 | ||
Number of shares | 249 | ||
Capital Increase By Ordinary Shares [Member] | Share capital transaction as on 11/19/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 0 | ||
Additional paid-in capital | $ 0 | ||
Number of shares | 2,500 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 11/22/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 3 | ||
Additional paid-in capital | $ (3) | ||
Number of shares | 30,625 | ||
Capital Increase By Ordinary Shares [Member] | Share Capital Transaction As On 11/24/2022 | |||
Class of Stock [Line Items] | |||
Share capital | $ 8 | ||
Additional paid-in capital | $ (8) | ||
Number of shares | 78,579 | ||
Issuance Of Share Warrants [Member] | Share Capital Transaction As On 06/10/2021 | |||
Class of Stock [Line Items] | |||
Additional paid-in capital | $ 279 | ||
Retained Earnings Charged On Share Premium [Member] | Share Capital Transaction As On 05/19/2021 | |||
Class of Stock [Line Items] | |||
Additional paid-in capital | $ (797,823) | ||
Retained Earnings Charged On Share Premium [Member] | Share Capital Transaction As On 05/12/2022 | |||
Class of Stock [Line Items] | |||
Additional paid-in capital | $ (95,209) | ||
Capital Increase By Share Warrants [Member] | Share Capital Transaction As On 06/09/2022 | |||
Class of Stock [Line Items] | |||
Additional paid-in capital | 88,094 | ||
Capital Increase By ATM Program [Member] | Share Capital Transaction As On 05/10/2022 | |||
Class of Stock [Line Items] | |||
Share capital | 637 | ||
Additional paid-in capital | $ 13,442 | ||
Number of shares | 6,036,238 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Share-Based Payment Arrangement, Other Information (Detail) - shares | Dec. 05, 2022 | Nov. 21, 2022 | Jul. 29, 2022 | Nov. 22, 2021 | Jun. 03, 2021 | May 19, 2021 | Mar. 23, 2021 | Nov. 24, 2020 | Apr. 29, 2020 | Mar. 16, 2020 | Jan. 15, 2020 | Oct. 11, 2019 | Jul. 22, 2019 | Jul. 01, 2019 | May 24, 2019 | May 10, 2019 | Mar. 20, 2019 | Dec. 17, 2018 | Dec. 12, 2018 | Nov. 29, 2018 | Nov. 01, 2018 | Oct. 15, 2018 | Sep. 06, 2018 | Jun. 22, 2018 | Jun. 02, 2018 | Dec. 05, 2017 | Sep. 15, 2017 | Aug. 15, 2017 | Jun. 15, 2017 | Apr. 20, 2017 | Mar. 14, 2017 | Dec. 09, 2016 | Oct. 17, 2016 | Sep. 15, 2016 | Aug. 21, 2016 | Jun. 21, 2016 | Apr. 21, 2016 | Feb. 15, 2016 | Feb. 09, 2016 | Nov. 19, 2015 | Jun. 23, 2015 | Mar. 24, 2015 | Sep. 18, 2013 | Jul. 25, 2013 | Sep. 25, 2012 |
Share options [Member] | General Meeting 2011 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Dec. 09, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Sep. 18, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Sep. 18, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 518,000 | ||||||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 03, 2014 | Jun. 03, 2014 | Jun. 03, 2014 | Jun. 03, 2014 | Jun. 03, 2014 | Jun. 03, 2014 | Jun. 03, 2014 | ||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Jun. 15, 2017 | Jun. 21, 2016 | Jun. 21, 2016 | Jun. 21, 2016 | Jun. 21, 2016 | Apr. 06, 2016 | Jun. 23, 2015 | ||||||||||||||||||||||||||||||||||||||
Grant date | Jun. 15, 2017 | Dec. 09, 2016 | Oct. 17, 2016 | Sep. 15, 2016 | Jun. 21, 2016 | Apr. 21, 2016 | Jun. 23, 2015 | ||||||||||||||||||||||||||||||||||||||
Number granted | 126,000 | 74,960 | 16,500 | 9,300 | 110,000 | 33,000 | 120,000 | ||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2017 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 15, 2017 | Jun. 15, 2017 | Jun. 15, 2017 | ||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Nov. 17, 2017 | Jun. 15, 2017 | Jun. 15, 2017 | ||||||||||||||||||||||||||||||||||||||||||
Grant date | Dec. 05, 2017 | Sep. 15, 2017 | Jun. 15, 2017 | ||||||||||||||||||||||||||||||||||||||||||
Number granted | 625,200 | 52,600 | 111,600 | ||||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2018 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | |||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Mar. 04, 2019 | Nov. 29, 2018 | Jun. 22, 2018 | Sep. 06, 2018 | |||||||||||||||||||||||||||||||||||||||||
Grant date | Mar. 20, 2019 | Nov. 29, 2018 | Oct. 15, 2018 | Sep. 06, 2018 | |||||||||||||||||||||||||||||||||||||||||
Number granted | 547,100 | 350,000 | 76,700 | 65,000 | |||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2019 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 24, 2019 | May 24, 2019 | May 24, 2019 | May 24, 2019 | |||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Oct. 11, 2019 | Jul. 01, 2019 | Jul. 01, 2019 | May 24, 2019 | |||||||||||||||||||||||||||||||||||||||||
Grant date | Jan. 15, 2020 | Jul. 22, 2019 | Jul. 01, 2019 | May 24, 2019 | |||||||||||||||||||||||||||||||||||||||||
Number granted | 94,500 | 75,000 | 403,400 | 150,000 | |||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2020 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Apr. 20, 2020 | Apr. 20, 2020 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Mar. 23, 2021 | Nov. 24, 2020 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Mar. 23, 2021 | Nov. 24, 2020 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 75,200 | 1,216,200 | |||||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2021 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 19, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Nov. 22, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Nov. 22, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 1,107,300 | ||||||||||||||||||||||||||||||||||||||||||||
Share options [Member] | General Meeting 2022 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 19, 2021 | May 12, 2022 | May 12, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | May 12, 2022 | Nov. 21, 2022 | Jul. 29, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Grant date | May 12, 2022 | Nov. 21, 2022 | Jul. 29, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Number granted | 19,000 | 1,771,786 | 135,500 | ||||||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Sep. 21, 2015 | Sep. 21, 2015 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Apr. 20, 2017 | Mar. 14, 2017 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Apr. 20, 2017 | Mar. 14, 2017 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 24,000 | 22,500 | |||||||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2018 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | Jun. 22, 2018 | |||||||||||||||||||||||||||||||||||||||
Board of directors meeting | May 10, 2019 | Dec. 12, 2018 | Dec. 12, 2018 | Nov. 01, 2018 | Sep. 06, 2018 | Jun. 22, 2018 | |||||||||||||||||||||||||||||||||||||||
Grant date | May 10, 2019 | Dec. 17, 2018 | Dec. 12, 2018 | Nov. 01, 2018 | Sep. 06, 2018 | Jun. 22, 2018 | |||||||||||||||||||||||||||||||||||||||
Number granted | 100,000 | 3,000 | 16,250 | 57,000 | 450 | 486,153 | |||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2019 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 24, 2019 | May 24, 2019 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Oct. 11, 2019 | Oct. 11, 2019 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Mar. 16, 2020 | Oct. 11, 2019 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 5,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2020 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Apr. 20, 2020 | Apr. 20, 2020 | Apr. 20, 2020 | ||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Mar. 23, 2021 | Nov. 24, 2020 | Apr. 20, 2020 | ||||||||||||||||||||||||||||||||||||||||||
Grant date | Mar. 23, 2021 | Nov. 24, 2020 | Apr. 29, 2020 | ||||||||||||||||||||||||||||||||||||||||||
Number granted | 24,900 | 475,000 | 20,000 | ||||||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2021 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 19, 2021 | May 19, 2021 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Nov. 22, 2021 | May 19, 2021 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Nov. 22, 2021 | May 19, 2021 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 257,300 | 20,000 | |||||||||||||||||||||||||||||||||||||||||||
RSU [Member] | General Meeting 2022 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 19, 2021 | May 12, 2022 | May 12, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | May 12, 2022 | Nov. 21, 2022 | Jul. 29, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Grant date | May 12, 2022 | Nov. 21, 2022 | Jul. 29, 2022 | ||||||||||||||||||||||||||||||||||||||||||
Number granted | 3,200 | 519,650 | 66,700 | ||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2011 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Dec. 09, 2011 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Sep. 25, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Sep. 25, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 30,000 | ||||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2013 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 04, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Jul. 25, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Jul. 25, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 73,000 | ||||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2014 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 03, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Mar. 24, 2015 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Mar. 24, 2015 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2015 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 23, 2015 | Jun. 23, 2015 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Dec. 15, 2015 | Nov. 19, 2015 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Feb. 15, 2016 | Nov. 19, 2015 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 90,000 | 22,500 | |||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2016 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 21, 2016 | Jun. 21, 2016 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | Jun. 21, 2016 | Dec. 09, 2016 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Aug. 21, 2016 | Feb. 09, 2016 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 20,000 | 59,000 | |||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2017 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | Jun. 15, 2017 | Jun. 15, 2017 | |||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | May 02, 2018 | Jun. 15, 2017 | |||||||||||||||||||||||||||||||||||||||||||
Grant date | Jul. 02, 2018 | Aug. 15, 2017 | |||||||||||||||||||||||||||||||||||||||||||
Number granted | 44,000 | 9,000 | |||||||||||||||||||||||||||||||||||||||||||
BSA Warrants [Member] | Share-based Payment Arrangement [Member] | General Meeting 2021 [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||
General meeting of shareholders | May 19, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Board of directors meeting | May 19, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Grant date | Jun. 03, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Number granted | 39,185 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Fair Value of Warrants Cox Ross Rubinstein Binomial Option Pricing Model (Detail) - € / shares | 12 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule Of Share Based Payment Award Fair Value Of Warrants Valuation Assumptions [Line Items] | |||||||
Weighted average share price at grant date (in €) | € 10.75 | ||||||
Weighted average expected volatility | 90% | ||||||
Weighted average risk-free interest rate | (0.53%) | ||||||
Weighted average expected term (in years) | 3 years 2 months 15 days | ||||||
Dividend yield | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Weighted average fair value of warrants (in €) | € 0 |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of Warrants Activity (Detail) - € / shares | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | May 19, 2019 | |
Class of Warrant or Right [Line Items] | ||||
Weighted- average remaining contractual term | 4 years | |||
BSA Warrants [Member] | ||||
Class of Warrant or Right [Line Items] | ||||
Number of warrants outstanding, Beginning Balance | 256,693 | 218,008 | ||
Number of stock options outstanding, Granted during the period | 39,185 | |||
Number of stock options outstanding, Expired during the period | (5,000) | (500) | ||
Number of warrants outstanding, Ending Balance | 251,693 | 256,693 | ||
Number of warrants outstanding, Warrants exercisable | 251,693 | 256,693 | ||
Weighted- average exercise price, Beginning Balance | € 47.51 | € 52.78 | ||
Weighted- average exercise price, Granted during the period | 9.18 | |||
Weighted average grant date fair value, Expired during the period | 8.59 | 5.13 | ||
Weighted- average exercise price, Ending Balance | 48.29 | 47.51 | ||
Weighted- average exercise price, Warrants exercisable | € 48.29 | € 47.51 | ||
Weighted- average remaining contractual term | 4 years 4 months 9 days | 4 years 4 months 6 days | 5 years 4 months 9 days | |
Weighted- average remaining contractual term, Ending Balance | 4 years 4 months 9 days | 4 years 4 months 6 days | ||
Weighted- average remaining contractual term, Warrants exercisable as of December 31, 2020 | 4 years 4 months 9 days | 4 years 4 months 6 days |
Share-Based Payments - Summar_4
Share-Based Payments - Summary of Stock Options Activity (Detail) - Employee Stock Option [Member] - EUR (€) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Summary of stock options activity [Line iteam] | |||
Number of stock options outstanding, Beginning Balance | 3,631,210 | 2,610,510 | |
Number of stock options outstanding, Granted during the period | 1,926,286 | 1,182,900 | |
Number of stock options outstanding, Forfeited during the period | (238,715) | (162,200) | |
Number of stock options outstanding, Exercised during the period | 5,613 | 0 | |
Number of stock options outstanding, Expired during the period | 0 | ||
Number of stock options outstanding, Ending Balance | 5,313,169 | 3,631,210 | 2,610,510 |
Number of stock options outstanding, Options exercisable Beginning Balance | 1,331,508 | 878,560 | |
Weighted- average exercise price, Beginning Balance | € 15.25 | € 18.75 | |
Weighted- average exercise price, Granted during the period | 3.12 | 6.09 | |
Weighted- average exercise price, Forfeited during the period | 12.22 | 4.89 | |
Weighted- average exercise price, Exercised during the period | 4.16 | 0 | |
Weighted- average exercise price, Expired during the period | |||
Weighted- average exercise price, Ending Balance | 11 | 15.25 | € 18.75 |
Weighted- average exercise price, Options exercisable | € 20.2 | € 29.5 | |
Weighted- average remaining contractual term | 8 years 4 months 28 days | 8 years 8 months 1 day | 8 years 2 months 1 day |
Weighted- average remaining contractual term, Options exercisable as of December 31, 2020 | 6 years 8 months 8 days | 6 years 1 month 17 days | |
Aggregate intrinsic value, Beginning Balance | € 198,800 |
Share-Based Payments - Summar_5
Share-Based Payments - Summary of Stock Options Valuation Assumptions (Detail) - € / shares | 12 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted average shares price at grant date in € | € 10.75 | ||||||
Weighted average risk-free interest rate | 0.53% | ||||||
Weighted average expected term (in years) | 3 years 2 months 15 days | ||||||
Dividend yield | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Weighted average fair value of stock-options in € | € 0 | ||||||
Weighted Average [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Weighted average shares price at grant date in € | € 2.33 | € 5.71 | € 5.54 | € 15.26 | € 31.86 | € 45.49 | € 36.69 |
Weighted average expected volatility | 98.90% | 90.20% | 87.30% | 70.80% | 47.10% | 41.80% | 45.40% |
Weighted average risk-free interest rate | 2.20% | 0.06% | 0.50% | 0.10% | 0.30% | 0.10% | 1% |
Weighted average expected term (in years) | 6 years | 6 years | 6 years | 6 years | 6 years | 6 years | 6 years 8 months 12 days |
Weighted average fair value of stock-options in € | € 2.23 | € 4.17 | € 3.9 | € 9.65 | € 13.67 | € 17.16 | € 17.66 |
Share-Based Payments - Summar_6
Share-Based Payments - Summary of RSU Activity (Detail) - Restricted Stock Units [Member] - € / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of RSU outstanding, Beginning Balance | 1,240,520 | 1,118,745 |
Number of RSU outstanding, Granted during the period | 589,550 | 302,200 |
Number of RSU outstanding, Forfeited during the period | (92,326) | (96,350) |
Number of RSU outstanding, Released during the period | (118,967) | (84,075) |
Number of RSU outstanding, Expired during the period | 0 | 0 |
Number of RSU outstanding, Ending Balance | 1,618,778 | 1,240,520 |
Weighted average grant date fair value, Beginning Balance | € 18.77 | € 20.35 |
Weighted average grant date fair value, Granted during the period | 2.67 | 6.13 |
Weighted average grant date fair value, Forfeited during the period | 4.96 | 6.74 |
Weighted average grant date fair value, Released during the period | 5.15 | 8.2 |
Weighted average grant date fair value, Expired during the period | ||
Weighted average grant date fair value, Ending Balance | € 14.69 | € 18.77 |
Share-Based Payments - Summar_7
Share-Based Payments - Summary of Share-Based Payments Expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | $ (5,026) | $ (3,122) |
Research and Development expenses [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | (1,462) | (759) |
Research and Development expenses [Member] | Restricted Stock Units [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | (841) | (887) |
Sales and Marketing expenses [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | (31) | (209) |
Sales and Marketing expenses [Member] | Restricted Stock Units [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | (4) | (104) |
General and Administrative expenses [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | (2,374) | (841) |
General and Administrative expenses [Member] | Restricted Stock Units [Member] | ||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||
Share-based payments | $ (315) | $ (322) |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) € / shares in Units, $ / shares in Units, € in Millions, $ in Millions | 12 Months Ended | 17 Months Ended | |||||||||
Jun. 03, 2021 shares | Dec. 31, 2020 | Jan. 16, 2020 | Jun. 22, 2018 | Dec. 31, 2022 EUR (€) € / shares shares | Dec. 31, 2021 € / shares | May 30, 2020 | Dec. 31, 2022 USD ($) | Jun. 30, 2022 € / shares | Jun. 30, 2022 $ / shares | May 19, 2019 | |
Share-Based Payments [Line iteam] | |||||||||||
Compensation Cost Not Yet Recognized Stock Options | € 9.3 | $ 9.9 | |||||||||
Compensation Cost Not Yet Recognized Other Than Options | € | € 2.6 | ||||||||||
Class of Warrants or Right Exercise Price of Warrants | (per share) | € 2.9 | $ 3.11 | |||||||||
Warrants Remaining contractual life | 4 years | ||||||||||
Board of Directors Chairman [Member] | Exercise Price Range One [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Granted during the period | € 2.61 | ||||||||||
Class of Warrants or Right Exercise Price of Warrants | 5.13 | ||||||||||
Board of Directors Chairman [Member] | Exercise Price Range Two [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Granted during the period | 74.22 | ||||||||||
Class of Warrants or Right Exercise Price of Warrants | 69.75 | ||||||||||
Director [Member] | Warrant [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Stock Issued During Period, Shares, Issued for Services | shares | 39,185 | ||||||||||
Share options [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Period | 4 years | ||||||||||
Granted during the period | € 3.12 | € 6.09 | |||||||||
Compensation Cost Not yet Recognized, Period for Recognition | 3 years 4 months 24 days | ||||||||||
Restricted Stock Units [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Period | 4 years | ||||||||||
Compensation Cost Not yet Recognized, Period for Recognition | 3 years 4 months 24 days | ||||||||||
Compensation Cost Not Yet Recognized Other Than Options | $ | $ 2.8 | ||||||||||
BSPCE Warrants [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Class of Warrant or Right, Granted During The Period | shares | 0 | ||||||||||
Share-based Payment Arrangement, Tranche One [Member] | Share options [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Percentage | 25% | 25% | |||||||||
Share-based Payment Arrangement, Tranche One [Member] | Restricted Stock Units [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Period | 1 year | ||||||||||
Award Vesting Percentage | 25% | ||||||||||
Share-based Payment Arrangement, Tranche Two [Member] | Share options [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Percentage | 12.50% | 12.50% | |||||||||
Share-based Payment Arrangement, Tranche Two [Member] | Restricted Stock Units [Member] | |||||||||||
Share-Based Payments [Line iteam] | |||||||||||
Award Vesting Period | 2 years | ||||||||||
Award Vesting Percentage | 12.50% |
Contingencies - Summary of Non
Contingencies - Summary of Non Current Contingencies and Current Contingencies (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Liability, Defined Benefit Plan [Abstract] | ||
Current contingencies | $ 3,944 | $ 4,095 |
Non-current contingencies | 16,680 | 6,758 |
Total contingencies | $ 20,625 | $ 10,853 |
Contingencies - Summary of Move
Contingencies - Summary of Movement in Contingencies (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Contingencies, Beginning balance | $ 10,853 | $ 7,542 |
Increases in liabilities | 12,560 | 6,649 |
Used liabilities | (42) | (1,634) |
Reversals of unused liabilities | (1,984) | (920) |
Net interest related to employee benefits, and unwinding of discount | 0 | 3 |
Actuarial gains and losses on defined-benefit plans | (262) | (35) |
Currency translation effect | (500) | (753) |
Contingencies, Ending balance | 20,625 | 10,853 |
Of which Current | 3,944 | 4,095 |
Of which Non-current | 16,680 | 6,758 |
Pension retirement obligations [Member] | ||
Contingencies, Beginning balance | 1,008 | 937 |
Increases in liabilities | 105 | 181 |
Net interest related to employee benefits, and unwinding of discount | 3 | |
Actuarial gains and losses on defined-benefit plans | (262) | (35) |
Currency translation effect | (61) | (78) |
Contingencies, Ending balance | 790 | 1,008 |
Of which Non-current | 790 | 1,008 |
Collaboration agreement -Loss at completion [Member] | ||
Contingencies, Beginning balance | 9,800 | 3,956 |
Increases in liabilities | 12,455 | 6,420 |
Reversals of unused liabilities | (1,984) | |
Currency translation effect | (436) | (577) |
Contingencies, Ending balance | 19,835 | 9,800 |
Of which Current | 3,944 | 4,049 |
Of which Non-current | 15,891 | 5,750 |
Other provisions incl. restructuring [Member] | ||
Contingencies, Beginning balance | 45 | 2,649 |
Increases in liabilities | 0 | 47 |
Used liabilities | (42) | (1,634) |
Reversals of unused liabilities | 0 | (920) |
Currency translation effect | $ (3) | (98) |
Contingencies, Ending balance | 45 | |
Of which Current | $ 45 |
Contingencies - Summary of the
Contingencies - Summary of the Estimation of the Retirement Commitments (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan, Assumptions Used in Calculations [Abstract] | ||
% Social security contributions | 50% | 50% |
Salary increases | 2% | 2% |
Discount rate — Iboxx Corporates AA 10+ | 3.77% | 0.98% |
Expected staff turnover | 10% | 10% |
Estimated retirement age | 65 months | 65 months |
Life table | TGH05-TGF05 |
Operating Income - Summary of O
Operating Income - Summary of Operating Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Other Income and Expenses [Abstract] | ||
Research tax credit | $ 5,718 | $ 7,505 |
Other Operating income | (874) | (1,797) |
Total | $ 4,844 | $ 5,708 |
Operating Income - Additional I
Operating Income - Additional Information (Detail) - EUR (€) € in Millions | 1 Months Ended | |
Jul. 31, 2016 | Jul. 12, 2018 | |
Other Income and Expenses [Abstract] | ||
Potential development, clinical regulatory and commercial Milestones receivable | € 100 | |
Non refundable upfront payment Received | € 10 |
Allocation of Personnel Expen_3
Allocation of Personnel Expenses - Summary of Allocation of Personnel Expenses By Function (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Research and Development expenses | $ 75,543 | $ 70,336 | |
Sales and Marketing expenses | 1,608 | 4,387 | |
General and Administrative expenses | 24,324 | 30,520 | |
Total Operating expenses | 101,475 | 104,323 | |
Expenses by Function [Member] | |||
Research and Development expenses | 13,055 | 14,596 | |
Sales and Marketing expenses | 914 | 1,885 | |
General and Administrative expenses | 10,008 | 9,357 | |
Restructuring | [1] | 0 | 5,296 |
Total Operating expenses | $ 23,977 | $ 31,135 | |
[1]Restructuring personnel expenses excluding reversal for the year ended December 31, 2021. |
Allocation of Personnel Expen_4
Allocation of Personnel Expenses -Summary of Allocation of Personnel Expenses By Nature (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based payments | $ (5,026) | $ (3,122) |
Total Operating expenses | 101,475 | 104,323 |
Expenses by Nature [Member] | ||
Wages and salaries | 14,802 | 18,017 |
Social security contributions | 3,206 | 8,630 |
Expenses for pension commitments | 943 | 1,366 |
Share-based payments | 5,026 | 3,122 |
Total Operating expenses | $ 23,977 | $ 31,135 |
Income Tax - Summary of Reconci
Income Tax - Summary of Reconciliation Between the Effective and Nominal Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||
(Loss) before taxes | $ (96,204) | $ (98,189) |
Theoritical company tax rate | 25% | 26.50% |
Nominal tax expense | $ 24,051 | $ 26,020 |
Research tax credit | 1,430 | 1,990 |
Share-based compensation | (784) | (104) |
Other permanent differences | (100) | (86) |
Non recognition of deferred tax assets mainly related to tax losses | (24,746) | (25,882) |
Other differences | 79 | (1,557) |
Effective tax expenses - current | $ (70) | $ 381 |
Effective tax rate | (0.07%) | 0.39% |
Income Tax - Summary of Recon_2
Income Tax - Summary of Reconciliation Between the Effective and Nominal Income Tax Expense (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||
Standard French rate | 25% | 26.50% |
Income Tax - Summary of Deferre
Income Tax - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 273,964 | $ 263,086 |
Share-based compensation | 1,102 | 5,521 |
Personnel-related accruals | 389 | 376 |
Pension retirement obligations | 197 | 252 |
Leases | 6 | 518 |
Other | 5,248 | 2,760 |
Total deferred tax assets | 280,907 | 272,513 |
Less : Valuation allowance | (280,907) | (272,513) |
Net deferred tax assets | $ 0 | $ 0 |
Commitments - Additional Inform
Commitments - Additional Information (Detail) € in Thousands, $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2022 EUR (€) | May 31, 2017 USD ($) |
Disclosure Of Commitments [Line Items] | |||
Non-cancellable contractual obligations | $ 28,418 | ||
Term deposit | 240 | € 230 | |
American Express credit cards program [Member] | |||
Disclosure Of Commitments [Line Items] | |||
Certificates of Deposit, at Carrying Value | 250 | ||
New York subsidiary [Member] | |||
Disclosure Of Commitments [Line Items] | |||
Letters of credit outstanding amount | $ 300 | ||
Contract research organizations [Member] | |||
Disclosure Of Commitments [Line Items] | |||
Non-cancellable contractual obligations | 48,700 | ||
Purchase Obligations | $ 161,600 |
Relationships with Related Pa_3
Relationships with Related Parties - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Related Party Transactions [Abstract] | |
Compensation awarded to directors and officers | $ 8 |
Relationships with Related Pa_4
Relationships with Related Parties - Summary of Relationships with Related Parties (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | $ 20,625 | $ 10,853 | $ 7,542 |
Directors and Officers [Member] | |||
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | 8,037 | 7,031 | |
Directors and Officers [Member] | Short-term benefits [Member] | |||
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | 4,625 | 5,128 | |
Directors and Officers [Member] | Post-employment benefits [Members] | |||
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | 33 | 67 | |
Directors and Officers [Member] | Termination benefits [Members] | |||
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | 24 | 280 | |
Directors and Officers [Member] | Share-based payment [Member] | |||
Related Party Transaction [Line Items] | |||
Defined Benefit Plan, Benefit Obligation | $ 3,355 | $ 1,556 |
Relationships with Related Pa_5
Relationships with Related Parties - Schedule of Amounts Payable to Related Parties (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Related Party Transaction [Line Items] | ||
Due to Related Parties, Current | $ 2,092 | $ 1,976 |
Executive Committee [Member] | Compensation [Member] | ||
Related Party Transaction [Line Items] | ||
Due to Related Parties, Current | 2,009 | 1,820 |
Executive Committee [Member] | Pension obligations [Member] | ||
Related Party Transaction [Line Items] | ||
Due to Related Parties, Current | $ 83 | $ 156 |
Loss Per Share - Summary of Ear
Loss Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings Per Share, Basic [Abstract] | ||
Net loss | $ (96,274) | $ (97,809) |
Weighted average number of ordinary shares | 77,384,133 | 54,916,937 |
Basic net loss per share attributable to ordinary shareholders ($/share) | $ (1.24) | $ (1.78) |
Weighted average number of ordinary shares | 77,384,133 | 54,916,937 |
Diluted net loss per share attributable to ordinary shareholders ($/share) | $ (1.24) | $ (1.78) |
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 (Detail) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
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 | 251,693 | 256,693 |
Employee warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
Stock options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5,313,169 | 3,631,210 |
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 | 1,618,778 | 1,240,520 |
Prefunded warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 28,276,331 | 0 |