AVITA Medical (RCEL) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	AVITA MEDICAL, INC.
Entity Central Index Key	0001762303
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Security Exchange Name	NASDAQ
Trading Symbol	RCEL
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Entity Interactive Data Current	Yes
Entity Address, State or Province	CA
Entity Incorporation, State or Country Code	DE
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		25,550,694
Entity File Number	001-39059
Entity Tax Identification Number	85-1021707
Entity Address, Address Line One	28159 Avenue Stanford
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Valencia
Entity Address, Postal Zip Code	91355
City Area Code	(661)
Local Phone Number	367-9170

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 50,854	$ 18,164
Marketable securities	9,264	61,178
Accounts receivable, net	5,875	3,515
BARDA receivables	201	898
Prepaids and other current assets	3,356	1,578
Inventory	4,377	2,125
Total current assets	73,927	87,458
Marketable securities, long-term		6,930
Plant and equipment, net	1,862	1,200
Operating lease right-of-use assets	2,607	851
Corporate-owned life insurance ("COLI") asset	1,923	1,238
Intangible assets, net	459	465
Other long-term assets	236	122
Total assets	81,014	98,264
LIABILITIES, NON-QUALIFIED DEFERRED COMPENSATION PLAN SHARE AWARDS AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	3,019	3,002
Accrued wages and fringe benefits	7,143	6,623
Current non-qualified deferred compensation liability	333	78
Other current liabilities	1,341	990
Total current liabilities	11,836	10,693
Non-qualified deferred compensation liability	3,361	1,270
Contract liabilities	365	698
Operating lease liabilities, long-term	1,845	306
Total liabilities	17,407	12,967
Non-qualified deferred compensation plan share awards	629	557
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, $0.0001 par value per share, 200,000,000 shares authorized, 25,550,694 and 25,208,436 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	3	3
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, no shares issued or outstanding at September 30, 2023 and December 31, 2022.	0	0
Company common stock held by the non-qualified deferred compensation plan ("NQDC Plan")	(1,290)	(127)
Additional paid-in capital	347,192	339,825
Accumulated other comprehensive income	7,977	7,627
Accumulated deficit	(290,904)	(262,588)
Total stockholders' equity	62,978	84,740
Total liabilities, non-qualified deferred compensation plan share awards and stockholders' equity	$ 81,014	$ 98,264

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	200,000,000	200,000,000
Common stock shares issued	25,550,694	25,208,436
Common stock shares outstanding	25,550,694	25,208,436
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 13,645,000	$ 9,092,000	$ 35,948,000	$ 24,966,000
Cost of sales	(2,113,000)	(1,530,000)	(5,984,000)	(4,694,000)
Gross profit	11,532,000	7,562,000	29,964,000	20,272,000
BARDA income	212,000	904,000	1,369,000	2,189,000
Operating expenses:
Sales and marketing expenses	(10,532,000)	(5,411,000)	(27,075,000)	(15,571,000)
General and administrative expenses	(6,124,000)	(5,004,000)	(20,584,000)	(18,009,000)
Research and development expenses	(4,394,000)	(3,799,000)	(14,056,000)	(10,478,000)
Total operating expenses	(21,050,000)	(14,214,000)	(61,715,000)	(44,058,000)
Operating loss	(9,306,000)	(5,748,000)	(30,382,000)	(21,597,000)
Interest expense	(10,000)	(6,000)	(21,000)	(10,000)
Other income	615,000	170,000	2,141,000	307,000
Loss before income taxes	(8,701,000)	(5,584,000)	(28,262,000)	(21,300,000)
Income tax expense	(11,000)	(4,000)	(54,000)	(12,000)
Net loss	$ (8,712,000)	$ (5,588,000)	$ (28,316,000)	$ (21,312,000)
Net loss per common share:
Basic	$ (0.34)	$ (0.22)	$ (1.12)	$ (0.85)
Diluted	$ (0.34)	$ (0.22)	$ (1.12)	$ (0.85)
Weighted-average common shares:
Basic	25,401,754	25,006,995	25,281,920	24,972,331
Diluted	25,401,754	25,006,995	25,281,920	24,972,331

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (8,712)	$ (5,588)	$ (28,316)	$ (21,312)
Other comprehensive income gain/(loss):
Foreign currency translation loss	(47)	(96)	(57)	(188)
Net unrealized gain/(loss) on marketable securities, net of tax	65	(90)	407	(522)
Comprehensive loss	$ (8,694)	$ (5,774)	$ (27,966)	$ (22,022)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Company Common Stock Held by the NQDC Plan	Additional Paid-in Capital	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2021	$ 104,624	$ 3		$ 332,484	$ 8,060	$ (235,923)
Beginning balance, shares at Dec. 31, 2021		24,925,743
Net loss	(21,312)					(21,312)
Stock-based compensation	5,495			5,495
Exercise of stock options	1			1
Exercise of stock options, shares		125
Company common stock held by the NQDC plan			$ (127)	127
Company common stock held by the NQDC plan, Shares		17,927
Vesting of restricted stock units, shares		87,107
Change in classification of deferred compensation share awards	(192)			(192)
Change in redemption value of share awards in NQDC plan	80			80
Other comprehensive gain (loss)	(710)				(710)
Ending Balance at Sep. 30, 2022	87,986	$ 3	(127)	337,995	7,350	(257,235)
Ending Balance, shares at Sep. 30, 2022		25,030,902
Beginning Balance at Dec. 31, 2021	104,624	$ 3		332,484	8,060	(235,923)
Beginning balance, shares at Dec. 31, 2021		24,925,743
Ending Balance at Dec. 31, 2022	84,740	$ 3	(127)	339,825	7,627	(262,588)
Ending Balance, shares at Dec. 31, 2022		25,208,436
Beginning Balance at Jun. 30, 2022	92,560	$ 3		336,668	7,536	(251,647)
Beginning balance, shares at Jun. 30, 2022		25,003,088
Net loss	(5,588)					(5,588)
Stock-based compensation	1,229			1,229
Company common stock held by the NQDC plan			(127)	127
Company common stock held by the NQDC plan, Shares		17,927
Vesting of restricted stock units, shares		9,887
Change in redemption value of share awards in NQDC plan	(29)			(29)
Other comprehensive gain (loss)	(186)				(186)
Ending Balance at Sep. 30, 2022	87,986	$ 3	(127)	337,995	7,350	(257,235)
Ending Balance, shares at Sep. 30, 2022		25,030,902
Beginning Balance at Dec. 31, 2022	84,740	$ 3	(127)	339,825	7,627	(262,588)
Beginning balance, shares at Dec. 31, 2022		25,208,436
Net loss	(28,316)					(28,316)
Stock-based compensation	5,738			5,738
Exercise of stock options	$ 942			942
Exercise of stock options, shares	163,750	163,750
Company common stock held by the NQDC plan			(1,401)	1,401
Company common stock held by the NQDC plan, Shares		128,172
Vesting of restricted stock units, shares		50,336
Distribution of Company common stock held by the NQDC Plan	$ 522		238	284
Change in redemption value of share awards in NQDC plan	(998)			(998)
Other comprehensive gain (loss)	350				350
Ending Balance at Sep. 30, 2023	62,978	$ 3	(1,290)	347,192	7,977	(290,904)
Ending Balance, shares at Sep. 30, 2023		25,550,694
Beginning Balance at Jun. 30, 2023	68,647	$ 3	(892)	343,769	7,959	(282,192)
Beginning balance, shares at Jun. 30, 2023		25,447,615
Net loss	(8,712)					(8,712)
Stock-based compensation	2,367			2,367
Exercise of stock options	110			110
Exercise of stock options, shares		17,221
Company common stock held by the NQDC plan			(636)	636
Company common stock held by the NQDC plan, Shares		40,522
Vesting of restricted stock units, shares		45,336
Distribution of Company common stock held by the NQDC Plan	522		238	284
Change in redemption value of share awards in NQDC plan	26			26
Other comprehensive gain (loss)	18				18
Ending Balance at Sep. 30, 2023	$ 62,978	$ 3	$ (1,290)	$ 347,192	$ 7,977	$ (290,904)
Ending Balance, shares at Sep. 30, 2023		25,550,694

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flow from operating activities:
Net loss	$ (28,316,000)	$ (21,312,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	445,000	438,000
Stock-based compensation	6,213,000	5,782,000
Non-cash lease expense	531,000	515,000
Loss on fixed asset disposal	83,000	3,000
Investment losses	17,000
Patent impairment loss	4,000
Remeasurement and foreign currency transaction gain	(23,000)	(121,000)
Excess and obsolete inventory related charges	149,000	284,000
BARDA deferred costs	(147,000)	(12,000)
Contract cost amortization	255,000	253,000
Provision for doubtful accounts	113,000	10,000
Amortization of premium of marketable securities	(794,000)	(12,000)
Non-cash changes in the fair value of NQDC plan	899,000	(5,000)
Changes in operating assets and liabilities:
Trade and other receivables	(2,473,000)	(449,000)
BARDA receivables	697,000	(484,000)
Prepaids and other current assets	(2,057,000)	168,000
Inventory	(2,405,000)	(119,000)
Operating lease liability	(571,000)	(531,000)
Corporate-owned life insurance asset	(643,000)	(840,000)
Other long-term assets	(114,000)	(163,000)
Accounts payable and accrued expenses	(70,000)	433,000
Accrued wages and fringe benefits	524,000	(570,000)
Current non-qualified deferred compensation liability	(651,000)
Other current liabilities	345,000	511,000
Non-qualified deferred compensation plan liability	1,174,000	829,000
Contract liabilities	(333,000)	(212,000)
Other long-term liabilities		(50,000)
Net cash used in operations	(27,148,000)	(15,654,000)
Cash flows from investing activities:
Purchase of marketable securities	(7,633,000)	(59,408,000)
Sale of marketable securities	2,372,000
Maturities of marketable securities	65,289,000	43,669,000
Purchase of plant and equipment	(1,085,000)	(382,000)
Patent filing fees	(32,000)	(53,000)
Net cash provided by/(used in) investing activities	58,911,000	(16,174,000)
Cash flow from financing activities:
Proceeds from exercise of stock options	942,000	1,000
Net cash provided by financing activities	942,000	1,000
Effect of foreign exchange rate on cash and cash equivalents	(15,000)	(70,000)
Net increase/(decrease) in cash and cash equivalents	32,690,000	(31,897,000)
Cash and cash equivalents beginning of the period	18,164,000	55,712,000
Cash and cash equivalents end of the period	50,854,000	23,815,000
Supplemental Disclosure of Cash Flow Information
Income taxes paid during the period	44,000	17,000
Interest paid during the period	21,000	10,000
Plant and equipment purchases not yet paid	$ 114,000	$ 7,000

The Company

The Company	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	1. The Company Nature of the Business AVITA Medical, Inc. and its subsidiaries (collectively, “ AVITA Medical ”, or “ Company ”), is a regenerative medicine company leading the development and commercialization of devices and autologous cellular therapies for skin restoration. The Company's RECELL® System technology platform harnesses the regenerative properties of a patient’s own skin to create Spray-On Skin™ cells. In September 2018, the United States Food & Drug Administration (“ FDA ”) granted premarket approval (“ PMA ”) to the RECELL System for use in the treatment of acute thermal burns in patients eighteen years and older. Following receipt of the original PMA, the Company commenced commercialization of the RECELL System in January 2019 in the United States. In June 2021, the FDA approved expanded use of the RECELL System in combination of meshed autografting for acute full-thickness thermal wounds in pediatric and adult patients. In February 2022, the FDA approved a PMA supplement for the RECELL Autologous Cell Harvesting Device, an enhanced ease-of-use device aimed at providing clinicians a more efficient user experience and simplified workflow. On June 7, 2023, the FDA approved a PMA supplement for full-thickness skin defects (" FTSD ") based on results of the Company's pivotal trial for soft tissue repair and reconstruction. Following this approval, the Company commenced a commercial launch on June 8, 2023. On June 16, 2023, the FDA approved a PMA application for the repigmentation of stable depigmented vitiligo lesions. Following FDA approval, the Company established a framework, which consists of three steps, to secure reimbursement for vitiligo. The first step is to conduct the 100-patient post market study called TONE. TONE will evaluate repigmentation using the RECELL device and will also seek to measure the improvement in the quality-of-life following treatment of stable vitiligo with RECELL. TONE, including publication, is expected to be complete by the end of 2024. The second step is to initiate a health economics study to capture the longitudinal healthcare costs for a vitiligo patient, which is expected to be completed by the end of 2024. The purpose of these studies is to demonstrate how treating vitiligo with RECELL can significantly reduce the lifetime healthcare cost of patients. As a result, commercial payors will stand to benefit economically by providing coverage of RECELL for the repigmentation of stable depigmented vitiligo lesions. Conversations with commercial payors will begin during the first quarter of 2025. Commercial coverage will be rolled out on a tiered basis based on state and geographic factors. The Company anticipates that the initial phase of reimbursement coverage will likely begin in the third quarter of 2025 with appropriately sized commercial support as coverage is established. Additionally, on June 29, 2023, the Company submitted a PMA supplement to the FDA for RECELL GO™. RECELL GO maintains the FDA Breakthrough Device designation from predecessor devices. On September 29, 2023, the Company received notice from the FDA that additional information regarding the PMA is required for the continuation of a substantive review for RECELL GO. This request, which is not unique to the Breakthrough Device Program, placed the application file on hold while the Company addresses the FDA's questions. A category of questions posed by the FDA will require additional in-house testing. The Company has already made significant progress in developing the data plan for testing with some testing underway. Consequently, the Company expects to submit the complete response to the FDA no later than February 28, 2024. Upon the submission to the FDA, the application will reenter the 180-day cycle, with 90 days remaining in the review period. This timing would imply a product launch on May 31, 2024. In February 2019, the Company entered into a collaboration with COSMOTEC Company Ltd (" COSMOTEC "), an M3 Group company, to market and distribute the RECELL System in Japan. Under the terms of the agreement, AVITA Medical will supply the RECELL product, and COSMOTEC will be the sole distributor of the product in Japan. The Company worked with COSMOTEC to advance its application for approval of the RECELL System in Japan pursuant to Japan’s Pharmaceuticals and Medical Devices Act (“ PMDA ”). In February 2022, COSMOTEC’s application for regulatory approval was approved by the PMDA with labeling for burns only. In September 2022, COSMOTEC commercially launched RECELL in Japan following Japan’s Ministry of Health, Labor, and Welfare approval of reimbursement pricing.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. The information included in this quarterly report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2022 filed with the SEC on February 23, 2023 and the Australian Securities Exchange ("ASX") on February 24, 2023 (the “Annual Report"). There have been no changes to the Company’s significant accounting policies as described in the Annual Report on Form 10-K that have had a material impact on the Company’s Consolidated Financial Statements. See the summary of the Company’s significant accounting policies set forth in the notes to its Consolidated Financial Statements included in the Annual Report. Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. Reclassification of prior year presentation Certain prior year amounts within Other current liabilities have been reclassified to Current non-qualified deferred compensation liability, in the Consolidated Balance Sheets for consistency with current period presentation. These reclassifications had no effect on the reported results of operations or financial position. Certain prior-year amounts included in Note 11 - Reporting Segment and Geographic Information have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the total Revenues. An adjustment was made to reclassify COSMOTEC sales from the United States to Japan. Recent Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (“ FASB ”) issued Accounting Standards Update (“ASU”) 2023-06 which amends the disclosure or presentation requirements related to various subtopics in the FASB ASC. The amendments in ASU 2023-06 modify the disclosure or presentation requirements of a variety of Topics in the ASC. Certain of the amendments represent clarifications to or technical corrections of the current requirements. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all entities, if by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated statements. In July 2023, the SEC adopted the final rule under SEC Release No. 33-11216, “ Cybersecurity Risk Management , Strategy, Governance and Incident Disclosure,” The final rule establishes new requirements related to material cybersecurity incidents, which would need to be disclosed on Form 8-K within four business days of their being deemed material, and annual disclosures in Form 10-K pertaining to (1) cybersecurity risk management and strategy, (2) management's role in assessing and managing material risks from cybersecurity threats, and (3) the board of directors' oversight of cybersecurity risks. The Form 10-K disclosures will be due beginning with annual reports for fiscal years ending on or after December 15, 2023, and the Form 8-K disclosures will be due beginning December 18, 2023. The Company will comply with the disclosure requirements set forth in the final rule as each becomes effective. Use of Estimates The preparation of the accompanying Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts (including doubtful accounts, carrying value of long-lived assets, the useful lives of long-lived assets, accounting for marketable securities, income taxes, stock-based compensation, estimated credit losses, and the stand-alone selling price for the Biomedical Advanced Research and Development Authority ( "BARDA" ) contract) and related disclosures. Estimates have been prepared on the basis of the current and available information. However, actual results could differ from estimated amounts. Foreign Currency Translation and Foreign Currency Transactions The financial position and results of operations of the Company’s operating non-U.S. subsidiaries are generally determined using the respective local currency as the functional currency of that subsidiary. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each period end. Income statement accounts are translated at the average rate of exchange prevailing during the period. Adjustments arising from the use of differing exchange rates from period to period are included in Other comprehensive gain (loss) in Stockholders’ Equity. Gains and losses resulting from foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Operations. Gains and losses resulting from foreign currency transactions were a gain of $ 27,000 and $ 76,000 for the three-months ended September 30, 2023 and 2022, respectively. Gains and losses resulting from foreign currency transactions were a gain of $ 39,000 and $ 123,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company’s non-operating subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period and nonmonetary assets and liabilities at historical rates. Gains and losses resulting from these remeasurements, and foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Operations. During the three-months ended September 30, 2023 and 2022, the Company recorded a loss of $ 1,000 and a gain of $ 6,000 , respectively. During the nine-months ended September 30, 2023 and 2022, the Company recorded a loss of $ 16,000 and a loss of $ 2,000 , respectively Cash and Cash Equivalents Cash and cash equivalents consist of cash held at deposit institutions and cash equivalents. Cash equivalents consist of short-term highly liquid investments with original maturities of three months or less from the date of purchase and consist primarily of money market funds. The Company holds cash at deposit institutions in the amount of $ 4.4 million and $ 4.1 million, of which $ 660,000 and $ 737,000 is denominated in foreign currencies in foreign institutions as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company held cash equivalents in the amount of $ 46.4 million and $ 14.1 million, respectively. Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, trade receivables and other receivables. As of September 30, 2023 and December 31, 2022, substantially all of the Company’s cash was deposited in accounts at financial institutions, and amounts may exceed federally insured limits and subject to the risk of bank failure. As of September 30, 2023, no single commercial customer accounted for more than 10 % of net accounts receivable. As of December 31, 2022, one commercial customer accounted for more than 10 % of total net accounts receivable. For the three-months and nine-months ended September 30, 2023 and 2022, no single customer accounted for more than 10 % of revenues. Employee Stock Purchase Plan ("ESPP") The Company's Employee Stock Purchase Plan (the "ESPP"), features two six-month offering periods per year, running from June 1 to November 30 and December 1 to May 31. The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s common stock through payroll deductions of up to 15 % of their eligible compensation. Under the ESPP, employees can purchase the Company's Common Stock at the lower of 85 % of the fair value of shares on either the first or last day of the offering period. Amounts deducted and accumulated by the participant are recorded as ESPP liability and included in Accrued wages and fringe benefits in the Consolidated Balance Sheets. This amount is used to purchase shares of common stock at the end of each six-month purchase period. Once the shares are purchased, the ESPP liability is reclassified to stockholders’ equity on the purchase date. The ESPP is a compensatory plan accounted for under the expense recognition provision of share-based payment accounting standards. Compensation expense is recorded based on the fair market value at the grant date, which corresponds to the first day of each purchase period. The Black-Scholes option pricing model is used to estimate the grant date fair value.

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2023
Available For Sale Securities [Abstract]
Marketable Securities	3. Marketable Securities The following table summarizes the amortized cost and estimated fair values of debt securities available-for-sale: As of September 30, 2023 Amortized Gross Gross Carrying (in thousands) Cash equivalents: Money market funds $ 46,431 $ - $ - $ 46,431 Total cash equivalents $ 46,431 $ - $ - $ 46,431 Current marketable securities: U.S. Treasury securities $ 5,451 $ 3 $ ( 14 ) $ 5,440 Commercial paper 1,593 - ( 5 ) 1,588 Corporate debt securities 550 - - 550 U.S. Government agency obligations 1,690 - ( 4 ) 1,686 Total current marketable securities $ 9,284 $ 3 $ ( 23 ) $ 9,264 As of December 31, 2022 Amortized Gross Gross Carrying (in thousands) Cash equivalents: Money market funds $ 14,089 $ - $ - $ 14,089 Total cash equivalents $ 14,089 $ - $ - $ 14,089 Current marketable securities: U.S. Treasury securities $ 43,092 $ 1 $ ( 393 ) $ 42,700 Commercial paper 12,743 - - 12,743 Corporate debt securities 3,865 - ( 23 ) 3,842 U.S. Government agency obligations 1,901 - ( 8 ) 1,893 Total current marketable securities $ 61,601 $ 1 $ ( 424 ) $ 61,178 Long-term marketable securities: Asset backed securities $ 3,568 $ 7 $ ( 3 ) $ 3,572 U.S. Treasury securities 2,416 - ( 6 ) 2,410 U.S. Government agency obligations 949 - ( 1 ) 948 Total long-term marketable securities $ 6,933 $ 7 $ ( 10 ) $ 6,930 The maturities of debt securities available-for-sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. As of September 30, 2023 As of December 31, 2022 (in thousands) Amortized Carrying Amortized Carrying Due in one year or less $ 9,284 $ 9,264 $ 61,601 $ 61,178 Due after one year through three years $ - $ - $ 6,933 $ 6,930 Gross unrealized gains and losses on the Company’s marketable securities were an unrealized gain of $ 3,000 and an unrealized loss of $ 23,000 as of September 30, 2023, which resulted in a net unrealized loss of $ 20,000 . Gross unrealized gains and losses on the Company’s marketable securities were an unrealized gain of $ 8,000 and an unrealized loss of $ 434,000 as of December 31, 2022, which resulted in a net unrealized loss of $ 426,000 . As of September 30, 2023, and December 31, 2022, the Company did no t recognize credit losses. P roceeds from sales of investments available-for-sale during the three-months and nine-months ended September 30, 2023 were $ 2.4 million. Gross realized losses during the three-months and nine-months ended September 30, 2023 were $ 17,000 . The Company did no t have sales of investments during the three-months and nine-months ended September 30, 2022. The Company has accrued interest income of $ 228,000 and $ 168,000 as of September 30, 2023, and December 31, 2022, respectively, in Prepaids and other current assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The authoritative guidance on fair value measurements establishes a framework with respect to measuring assets and liabilities at fair value on a recurring basis and non-recurring basis. Under the framework, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as of the measurement date. The framework also establishes a three-tier hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability and are developed based on the best information available in the circumstances. The hierarchy consists of the following three levels: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Inputs are unobservable inputs for the asset or liability. The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy: As of September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 46,431 $ - $ - $ 46,431 Total cash equivalents $ 46,431 $ - $ - $ 46,431 Current marketable securities: U.S. Treasury securities $ - $ 5,440 $ - $ 5,440 Commercial paper - 1,588 - 1,588 Corporate debt securities - 550 - 550 U.S. Government agency obligations - 1,686 - 1,686 Total current marketable securities $ - $ 9,264 $ - $ 9,264 Total marketable securities and cash equivalents $ 46,431 $ 9,264 $ - $ 55,695 As of December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 14,089 $ - $ - $ 14,089 Total cash equivalents $ 14,089 $ - $ - $ 14,089 Current marketable securities: U.S. Treasury securities - 42,700 - 42,700 Commercial paper - 12,743 - 12,743 Corporate debt securities - 3,842 - 3,842 U.S. Government agency obligations - 1,893 - 1,893 Total current marketable securities $ - $ 61,178 $ - $ 61,178 Long-term marketable securities: Asset backed securities $ - $ 3,572 $ - $ 3,572 U.S. Treasury securities - 2,410 - 2,410 U.S. Government agency obligations - 948 - 948 Total long-term marketable securities $ - $ 6,930 $ - $ 6,930 Total marketable securities and cash equivalents $ 14,089 $ 68,108 $ - $ 82,197 The Company’s Level 1 assets include money market instruments and are valued based upon observable market prices. Level 2 assets consist of commercial paper, U.S. Government agency obligations, corporate debt securities, asset backed securities and U.S Treasury securities. Level 2 securities are valued based upon observable inputs that include reported trades, broker/dealer quotes, bids and offers. As of September 30, 2023 and December 31, 2022, the Company had no investments that were measured using unobservable (Level 3) inputs. There were no transfers between fair value measurement levels as of September 30, 2023 or December 31, 2022.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenue, Performance Obligation [Abstract]
Revenues	5. Revenues The Company’s revenue consists of sale of the RECELL System to hospitals, treatment centers and COSMOTEC (“ commercial customers ”) and to BARDA (collectively “ customers ”), predominately in the United States. In addition, the Company records service revenue for the emergency preparedness services provided to BARDA. Services are included in Revenues within the Consolidated Statements of Operations. Remaining Performance Obligations Revenues from remaining performance obligations are calculated as the dollar value of the remaining performance obligations on executed contracts. The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) pursuant to the Company’s existing customer agreements is $ 469,000 and $ 698,000 as of September 30, 2023 and December 31, 2022, respectively. Approximately $ 70,000 as of September 30, 2023 and $ 274,000 as of December 31, 2022, of the total balance relates to our July 2020 contract with BARDA for the purchase, delivery and storage of RECELL Systems for emergency response preparedness for a period of three years. The Company expects to recognize these amounts as services are provided to BARDA. We are contracted to manage this inventory of product until the federal government requests shipment or at contract termination on December 31, 2023. The remaining balance of $ 399,000 and $ 424,000 as of September 30, 2023 and December 31, 2022, respectively, relate to our contract with COSMOTEC. The Company expects to recognize these amounts as revenue on a straight-line basis over the term of the contract with COSMOTEC. Contract Assets and Contract Liabilities Contract assets include amounts related to the Company’s contractual right to consideration for both completed and partially completed performance for which the Company does not have the right to payment. As of the period ended September 30, 2023 and December 31, 2022, the Company does no t have any contract assets. Contract liabilities are recorded when the Company receives payment prior to satisfying its obligation to transfer goods to a customer. The Company had $ 469,000 and $ 698,000 of contract liabilities as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, a total of $ 104,000 and $ 0 , respectively, was included in Other current liabilities and $ 365,000 and $ 698,000 , respectively, in Contract liabilities in the Consolidated Balance Sheets. The balance relates to the unsatisfied performance obligation for emergency preparedness under the BARDA and amounts received from COSMOTEC. The Company recognized $ 90,000 and $ 93,000 of revenue from BARDA for amounts included in the beginning balance of contract liabilities for the three-months ended September 30, 2023 and 2022, respectively, and $ 250,000 and $ 279,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company recognized $ 8,000 and $ 25,000 of revenue from COSMOTEC for amounts included in the beginning balance of contract liabilities for the three-months and nine-months ended September 30, 2023, respectively. The Company recognized $ 3,000 of revenue included in the beginning balance of contract liabilities for the three-months and nine-months ended September 30, 2022. Disaggregated Revenue The Company disaggregates revenue from contracts with customers into geographical regions and by customer type. As noted in the segment footnote, the Company’s business consists of one reporting segment. A reconciliation of disaggregated revenue by geographical region and customer type is provided in Segment Note 11.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	6. Leases During February 2023, the Company remeasured the lease liability for an office lease due to an increase in the lease term. As a result of the remeasurement of the lease liability, there was an increase of approximately $ 1.1 million to the operating lease ROU assets and operating lease liabilities. There was no impact on earnings as a result of the lease modification. During May 2023, the Company entered into a new office lease in Irvine, California. The lease commenced during July 2023 and resulted in an increase of $ 1.1 million in the operating lease ROU asset and operating lease liabilities. The following table sets forth the Company’s operating lease expenses which are included in operating expenses in the Consolidated Statements of Operations (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 260 $ 194 $ 655 $ 582 Variable lease cost 28 13 43 38 Total lease cost $ 288 $ 207 $ 698 $ 620 Supplemental cash flow information related to operating leases for the three-months and nine-months ended September 30, 2023 and 2022 was as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 146 $ 201 $ 556 $ 598 Supplemental balance sheet information, as of September 30, 2023 and December 31, 2022, related to operating leases was as follows (in thousands, except for operating lease weighted average remaining lease term and operating lease weighted average discount rate): As of September 30, 2023 December 31, 2022 Reported as: Operating lease right-of-use assets $ 2,607 $ 851 Total right-of-use assets $ 2,607 $ 851 Other current liabilities : Operating lease liabilities, short-term $ 904 $ 612 Operating lease liabilities, long term 1,845 306 Total operating lease liabilities $ 2,749 $ 918 Operating lease weighted average remaining lease term (years) 3.51 1.44 Operating lease weighted average discount rate 8.68 % 6.71 % As of September 30, 2023, maturities of the Company’s operating lease liabilities are as follows (in thousands): Operating Leases Remainder of 2023 $ 257 2024 1,028 2025 738 2026 684 2027 318 2028 190 Total lease payments 3,215 Less imputed interest ( 466 ) Total operating lease liabilities $ 2,749 As of September 30, 2023, there were no leases entered into that had not yet commenced.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	. Inventory The composition of inventory is as follows (in thousands): As of September 30, 2023 December 31, 2022 Raw materials $ 2,875 $ 1,131 Work in process 661 384 Finished goods 841 610 Total inventory $ 4,377 $ 2,125 The Company has reduced the carrying value of its inventories to reflect the lower of cost or net realizable value. Charges for estimated excess and obsolescence are recorded in Cost of sales in the Consolidated Statements of Operations and were $ 81,000 and $ 125,000 for the three-months ended September 30, 2023 and 2022, respectively, and $ 149,000 and $ 284,000 for the nine-months ended September 30, 2023 and 2022, respectively.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	8. Intangible Assets The composition of intangible assets, net is as follows (in thousands): As of September 30, 2023 As of December 31, 2022 Weighted Gross Accumulated Net Gross Accumulated Net Patent 1 3 $ 17 $ ( 17 ) $ - $ 17 $ ( 16 ) $ 1 Patent 2 13 140 ( 35 ) 105 137 ( 28 ) 109 Patent 3 14 204 ( 50 ) 154 194 ( 39 ) 155 Patent 5 19 98 ( 10 ) 88 89 ( 6 ) 83 Patent 6 20 44 ( 5 ) 39 43 ( 4 ) 39 Patent 7 13 2 - 2 2 - 2 Patent 8 19 10 ( 1 ) 9 13 - 13 Patent 10 19 3 - 3 3 - 3 Patent 11 19 6 ( 1 ) 5 6 - 6 Trademarks Indefinite 54 - 54 54 - 54 Total intangible assets $ 578 $ ( 119 ) $ 459 $ 558 $ ( 93 ) $ 465 During the three-months ended September 30, 2023, the Company did not identify any events or changes in circumstances that indicated that the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the three-months ended September 30, 2023. For the nine-months ended September 30, 2023 the Company recorded an impairment charge of approximately $ 4,000 in General and administrative expenses in the Consolidated Statement of Operations. During the three-months and nine-months ended September 30, 2022, the Company did not identify any events or changes in circumstances that indicated that the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the three-months and nine-months ended September 30, 2022. Amortization expense of intangibles included in the Consolidated Statements of Operations were $ 9,000 and $ 8,000 for the three-months ended September 30, 2023 and 2022, respectively, and $ 26,000 and $ 50,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company expects the future amortization of amortizable intangible assets held at September 30, 2023 to be as follows (in thousands): Estimated Remainder of 2023 $ 9 2024 35 2025 35 2026 35 2027 35 2028 34 Thereafter 222 Total $ 405

Plant and Equipment

Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Plant and Equipment	9. Plant and Equipment The composition of property, plant and equipment, net is as follows (in thousands): As of Useful Lives September 30, 2023 December 31, 2022 Computer equipment 3 years $ 951 $ 755 Computer software 3 years 840 871 Construction in progress 370 258 Furniture and fixtures 7 years 765 439 Laboratory equipment 5 years 713 643 Leasehold improvements Lesser of life or lease term 352 257 RECELL moulds 5 years 128 129 Less: accumulated amortization and depreciation ( 2,257 ) ( 2,152 ) Total plant and equipment, net $ 1,862 $ 1,200 Depreciation expense related to plant and equipment was $ 156,000 and $ 130,000 for the three-months ended September 30, 2023 and 2022 respectively, and $ 419,000 and $ 388,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company recorded an impairment charge of approximately $ 80,000 and $ 83,000 , f or the three-months and nine-months ended September 30, 2023,respectively. Amounts are recorded in General and administrative expenses in the Consolidated Statement of Operations. During the three-months and nine-months ended September 30, 2022, the Company did not identify any events or changes in circumstances that indicated that the carrying value of its plant and equipment may not be recoverable. As such, there was no impairment of plant and equipment recognized for the three-months and nine-months ended September 30, 2022.

Other Current and Long-Term Ass

Other Current and Long-Term Assets and Liabilities	9 Months Ended
	Sep. 30, 2023
Other Current And Long Term Assets And Liabilities [Abstract]
Other Current and Long-Term Assets and Liabilities	10. Other Current and Long-Term Assets and Liabilities Prepaids and other current assets consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Prepaid expenses $ 1,509 $ 921 Investment receivable 1,500 - Lease deposits 37 110 Accrued investment income 228 168 BARDA contract costs 56 252 Other receivables 26 127 Total prepaids and other current assets $ 3,356 $ 1,578 Prepaid expenses primarily consist of prepaid benefits and insurance. Other long-term assets consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Long-term lease deposits $ 151 $ 25 Long-term prepaids 85 97 Total other long-term assets $ 236 $ 122 Other current liabilities consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Operating lease liability $ 904 $ 612 BARDA deferred costs 47 194 BARDA deferred revenue 104 - Other current liabilities 286 184 Total other current liabilities $ 1,341 $ 990

Reporting Segment and Geographi

Reporting Segment and Geographic Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Reporting Segment and Geographic Information	11. Reporting Segment and Geographic Information The Company views its operations and manages its business in one reporting segment. Long-lived assets are primarily located in the United States as of September 30, 2023, and December 31, 2022, with an insignificant amount located in Australia and the United Kingdom. Revenue by region for the three-months and nine-months ended September 30, 2023 and 2022 were as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Revenue: United States $ 12,961 $ 8,441 $ 33,379 $ 24,117 Foreign: Japan 581 555 2,309 555 Australia 61 57 156 173 United Kingdom 42 39 104 121 Total $ 13,645 $ 9,092 $ 35,948 $ 24,966 Revenue and cost of sales by customer type for the three-months and nine-months ended September 30, 2023 and 2022 were as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Revenue: Commercial sales $ 13,547 $ 8,999 $ 35,673 $ 24,687 Deferred commercial revenue 8 - 25 - BARDA: Services for emergency preparedness 90 93 250 279 Total $ 13,645 $ 9,092 $ 35,948 $ 24,966 Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cost of sales: Commercial cost $ 2,110 $ 1,446 $ 5,835 $ 4,453 BARDA: Product cost ( 83 ) - ( 106 ) ( 12 ) Emergency preparedness service cost 86 84 255 253 Total $ 2,113 $ 1,530 $ 5,984 $ 4,694

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. As of September 30, 2023 and December 31, 2022, the Company did no t have any outstanding or threatened litigation that would have a material impact on the financial statements.

Common and Preferred Stock

Common and Preferred Stock	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Common and Preferred Stock	13. Common and Preferred Stock The Company’s CHESS Depositary Interests (“ CDIs ”) are quoted on the ASX under the ticker code, “AVH”. The Company’s shares of common stock are quoted on the Nasdaq Capital Market (“ Nasdaq ”) under the ticker code, “RCEL”. One share of common stock on Nasdaq is equivalent to five CDIs on the ASX. The Company is authorized to issue 200,000,000 shares of common stock, par value $ 0.0001 per share, and 10,000,000 shares of preferred stock, par value $ 0.0001 per share, issuable in one or more series as designated by the Company’s board of directors. No other class of capital stock is authorized. As of September 30, 2023, and December 31, 2022, 25,550,694 and 25,208,436 shares of common stock, respectively, were issued and outstanding and no shares of preferred stock were outstanding during any period.

Stock-Based Payment Plans

Stock-Based Payment Plans	9 Months Ended
	Sep. 30, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Payment Plans	14. Stock-Based Payment Plans Stock-Based Payment Expenses Stock-based payment transactions are recognized as compensation expense based on the fair value of the instrument on the date of grant. The Company uses the graded-vesting method to recognize compensation expense. Compensation cost is reduced for forfeitures as they occur in accordance with ASU 2016-09 , Simplifying the Accounting for Share-Based Payment. The Company recorded stock-based compensation expense of $ 2.4 million and $ 1.4 million for the three-months ended September 30, 2023 and 2022, respectively, and $ 6.2 million and $ 5.8 million for the nine-months ended September 30, 2023 and 2022, respectively. No income tax benefit was recognized in the Consolidated Statements of Operations for stock-based payment arrangements for the three-months and nine-months ended September 30, 2023, and 2022. The Company has included stock-based compensation expense for all equity awards and the ESPP as part of operating expenses in the accompanying Consolidated Statements of Operations as follows: Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Sales and marketing expenses $ 513 $ 408 $ 915 $ 1,022 General and administrative expenses 1,534 761 4,442 4,071 Research and development expenses 383 267 856 689 Total operating expenses $ 2,430 $ 1,436 $ 6,213 $ 5,782 A summary of share option activity as of September 30, 2023, and changes during the period ended is presented below: Service Only Share Options Performance Based Share Options Total Share Options Outstanding shares at December 31, 2022 1,724,252 511,194 2,235,446 Granted 919,193 - 919,193 Exercised ( 133,750 ) ( 30,000 ) ( 163,750 ) Expired ( 59,812 ) ( 180,473 ) ( 240,285 ) Forfeited ( 58,963 ) ( 6,958 ) ( 65,921 ) Outstanding shares at September 30, 2023 2,390,920 293,763 2,684,683 Exercisable at September 30, 2023 875,323 255,629 1,130,952 A summary of the status of the Company’s unvested RSUs as of September 30, 2023, and changes that occurred during the period is presented below: Unvested Shares Tenure-Based RSUs Performance Total RSUs Unvested RSUs outstanding at December 31, 2022 394,872 65,646 460,518 Granted 57,798 - 57,798 Vested ( 149,168 ) ( 29,340 ) ( 178,508 ) Forfeited ( 39,250 ) ( 8,286 ) ( 47,536 ) Unvested RSUs outstanding at September 30, 2023 264,252 28,020 292,272 Employee Stock Purchase Plan In June 2023, the stockholders approved the AVITA Medical, Inc. Employee Stock Purchase Plan (the “ ESPP ”). The ESPP became effective on July 1, 2023 . On June 30, 2023, the Company filed Registration Statement on Form S-8 to register 1,000,000 shares of common stock under the ESPP, as a result of the Company’s stockholders approving the ESPP at the 2023 Annual Meeting. The ESPP features two six-month offering periods per year, running from June 1 to November 30 and December 1 to May 31. The first offering period for the ESPP is July 1 – November 30, 2023. Subsequent offering periods will begin the first trading day of December and June each year. As of September 30, 2023, the Company had $ 410,000 in accrued payroll contributions. As of December 31, 2022, the Company did no t have any accrued payroll contributions. There have been no shares issued under the ESPP plan as of September 30, 2023.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes Tax expense for the three-months ended September 30, 2023 and 2022 was $ 11,000 and $ 4,000 , respectively, and $ 54,000 and $ 12,000 for the nine-months ended September 30, 2023 and 2022, respectively. These amounts are related to state minimum taxes.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	16. Net Loss per Share The following is a reconciliation of the basic and diluted loss per share computations: Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 (in thousands, except per share amounts) Net loss $ 8,712 $ 5,588 $ 28,316 $ 21,312 Weighted-average common shares—outstanding, basic and diluted 25,402 25,007 25,282 24,972 Net loss per common share, basic and diluted $ 0.34 $ 0.22 $ 1.12 $ 0.85 Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Anti-dilutive shares excluded from diluted net loss per common share: Stock options 2,684,683 1,774,070 2,684,683 1,774,070 Restricted stock units 292,272 220,920 292,272 220,920 The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the relevant period. In accordance with ASC 710-10 , Compensation - General , 117,909 shares of common stock held by the rabbi trust are excluded from the denominator in the basic and diluted net loss per common share calculations. For details on shares of common stock held by the rabbi trust refer to Note 17. For the purposes of the calculation of diluted net loss per share, options to purchase common stock, restricted stock units and unvested shares of common stock issued upon the early exercise of stock options have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. Because the Company has reported a net loss for the three-months and nine-months ended September 30, 2023, and 2022, diluted net loss per common share is the same as the basic net loss per share for those periods.

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2023
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	17. Retirement Plans The Company offers a 401(k) retirement savings plan (the “401(k) Plan” ) for its employees, including its executive officers, who satisfy certain eligibility requirements. The Internal Revenue Code of 1986, as amended, allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) Plan. The Company matches contributions to the 401(k) Plan based on the amount of salary deferral contributions the participant makes to the 401(k) Plan. The Company will match up to 6 % of an employee’s compensation that the employee contributes to his or her 401(k) Plan account up to the maximum allowable. Total Company's matching contributions to the 401(k) Plan were $ 263,000 and $ 312,000 for the three-months ended September 30, 2023 and 2022, respectively, and $ 934,000 and $ 783,000 for the nine-months ended September 30, 2023 and 2022, respectively. Non-Qualified Deferred Compensation Plan The Company’s NQDC plan, which became effective on October 2021, allows for eligible management and highly compensated key employees to elect to defer a portion of their salary, bonus and RSU awards to later years. Cash deferrals are immediately vested and are subject to investment risk, and a risk of forfeiture under certain circumstances. RSU deferrals are subject to the vesting conditions of the award. Once RSUs vest, subject to a six-month and one day holding period, employees are allowed to diversify the common stock into other investment options offered by the plan. For cash deferrals, the Company matches 4 % to 6 % (depending on level) of employee contributions. These matching employer contributions are vested over a two-year period with 25 % vesting on year one and 75 % vesting on year two for employees under 55 years of age. Employer contributions for employees over 55 years of age are immediately vested. Employer contributions to the NQDC plan were $ 80,000 and $ 75,000 for the three-months ended September 30, 2023 and 2022, respectively, and $ 161,000 and $ 197,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company’s deferred compensation plan liability was $ 3.7 million and $ 1.3 million as of September 30, 2023 and December 31, 2022, respectively. These amounts are split between current and long term on the Consolidated Balance Sheets. As of September 30, 2023, $ 0.3 million is included in Current non-qualified deferred compensation liability and $ 3.4 million in Non-qualified deferred compensation liability. As of December 31, 2022, $ 78,000 is included in Current non-qualified deferred compensation liability and $ 1.3 million in Non-qualified deferred compensation liability. During the third quarter of 2023, the Company had a payout of approximately $ 753,000 in the deferred compensation liability for terminated employees. The fair values of the Company’s deferred compensation plan assets and liability are included in the table below. For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 4, Fair Value Measurements. Fair Value as of September, 2023 Fair Value as of December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Corporate-owned life insurance policies (1) $ - $ 2,091 $ - $ 2,091 $ - $ 1,238 $ - $ 1,238 Non-qualified deferred compensation plan liability (2) - 3,694 - 3,694 - 1,348 - 1,348 (1) The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds and are categorized as Level 2. (2) Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants. Rabbi Trust During April 2022, the Company established a rabbi trust to hold the assets of the NQDC plan. The rabbi trust holds the COLI asset and the common stock from deferred RSU awards that have vested. The NQDC permits diversification of fully vested shares into other equity securities subject to a six-month and one day holding period. In accordance with ASR 268, Redeemable Preferred Stock , and ASC 718, Compensation — Stock Compensation , prior to vesting, the deferred share awards are classified as an equity instrument and changes in fair value of the amount owed to the participant are not recognized. The redemption amounts of the deferred awards are based on the vested percentage and are recorded outside of permanent equity as Non-qualified deferred compensation share awards on the Consolidated Balance Sheets. As of September 30, 2023, a total of 81,052 shares awards have been deferred, and a total of 117,909 shares were vested at the redemption value of $ 1.3 million . As of December 31, 2022, a total of 253,048 share awards have been deferred, and a total of 17,927 awards vested with a redemption value of $ 127,000 . Vested shares are converted to common stock and are reclassified to permanent equity. Common stock held in the rabbi trust is classified in a manner similar to treasury stock and presented separately on the Consolidated Balance Sheets as Common stock held by the NQDC plan. The following table summarizes the eligible share award activity as of September 30, 2023 and December 31, 2022 (in thousands): As of (in thousands) September 30, 2023 December 31, 2022 Non-qualified deferred compensation share awards: Balance at inception/beginning of period $ 557 $ - Change in classification of deferred compensation share awards - 192 Stock-based compensation expense 475 471 Change in redemption value 998 21 Vesting of share awards held by NDQC ( 1,401 ) ( 127 ) Ending Balance $ 629 $ 557

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q and determined that there have been no events that have occurred that would require adjustments to our disclosures in the Consolidated Financial Statements, except as noted below. Credit Agreement On October 18, 2023 (the “ Closing Date ”), the Company entered into a Credit Agreement (the “ Credit Agreemen t”), by and between the Company, as borrower, and an affiliate of OrbiMed Advisors, LLC, as the lender and administrative agent (the “ Lender ”). The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $ 90.0 million (the “ Loan Facility ”), of which $ 40.0 million was borrowed on the Closing Date (the “ Initial Commitment Amount ”). In addition, an aggregate of $ 50.0 million will be made available in two separate $ 25.0 million tranches, at the Company’s discretion, subject to certain net revenue requirements. The first tranche of $ 25.0 million will be made available on or before December 31, 2024. The second tranche of $ 25.0 million will be made available on or prior to June 30, 2025, only if the first tranche was drawn upon. On the Closing Date, the Company closed on the Initial Commitment Amount, less certain fees and expenses payable to or on behalf of the Lender. The indebtedness under the Credit Agreement will be secured by substantially all of our assets and will accrue interest at a rate equal to the greater of (a) forward-looking one-month term SOFR rate and (b) four percent ( 4 %) per annum, plus eight percent ( 8 %). In the event that the Company does not meet certain twelve-month trailing revenue targets at the end of certain fiscal quarters, the outstanding balance of the loan must be repaid in equal quarterly installments of 5 % of the funded amount through the maturity date. The Credit Agreement contains represent ations, warranties and covenants that are customary for this type of agreement. On the Closing Date, the Company issued to an affiliate of the Lender a warrant (the “ Warrant ”) to purchase up to 409,661 shares of the Company’s common stock, at an exercise price of $ 10.9847 per share, with a term of 10 years from the issuance date. The Warrant contains customary share adjustment provisions, as well as weighted average price protection in certain circumstances. Settlement and Release Agreement The Company has entered into a settlement and release agreement (the “ Agreement ”) with former Company CEO Dr. Michael Perry. Under the terms of the Agreement, Dr. Perry will receive both wage and non-wage payments in consideration of a general release of claims in favor of the Company. Dr Perry was entitled to receive the majority of these payments under the terms of his executive employment agreement. The Agreement also contains a mutual non-disparagement agreement. The Company did not admit to any allegations under the terms of the Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. The information included in this quarterly report on Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2022 filed with the SEC on February 23, 2023 and the Australian Securities Exchange ("ASX") on February 24, 2023 (the “Annual Report"). There have been no changes to the Company’s significant accounting policies as described in the Annual Report on Form 10-K that have had a material impact on the Company’s Consolidated Financial Statements. See the summary of the Company’s significant accounting policies set forth in the notes to its Consolidated Financial Statements included in the Annual Report.
Principles of Consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.
Reclassification of prior year presentation	Reclassification of prior year presentation Certain prior year amounts within Other current liabilities have been reclassified to Current non-qualified deferred compensation liability, in the Consolidated Balance Sheets for consistency with current period presentation. These reclassifications had no effect on the reported results of operations or financial position. Certain prior-year amounts included in Note 11 - Reporting Segment and Geographic Information have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the total Revenues. An adjustment was made to reclassify COSMOTEC sales from the United States to Japan.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (“ FASB ”) issued Accounting Standards Update (“ASU”) 2023-06 which amends the disclosure or presentation requirements related to various subtopics in the FASB ASC. The amendments in ASU 2023-06 modify the disclosure or presentation requirements of a variety of Topics in the ASC. Certain of the amendments represent clarifications to or technical corrections of the current requirements. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all entities, if by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated statements. In July 2023, the SEC adopted the final rule under SEC Release No. 33-11216, “ Cybersecurity Risk Management , Strategy, Governance and Incident Disclosure,” The final rule establishes new requirements related to material cybersecurity incidents, which would need to be disclosed on Form 8-K within four business days of their being deemed material, and annual disclosures in Form 10-K pertaining to (1) cybersecurity risk management and strategy, (2) management's role in assessing and managing material risks from cybersecurity threats, and (3) the board of directors' oversight of cybersecurity risks. The Form 10-K disclosures will be due beginning with annual reports for fiscal years ending on or after December 15, 2023, and the Form 8-K disclosures will be due beginning December 18, 2023. The Company will comply with the disclosure requirements set forth in the final rule as each becomes effective.
Use of Estimates	Use of Estimates The preparation of the accompanying Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts (including doubtful accounts, carrying value of long-lived assets, the useful lives of long-lived assets, accounting for marketable securities, income taxes, stock-based compensation, estimated credit losses, and the stand-alone selling price for the Biomedical Advanced Research and Development Authority ( "BARDA" ) contract) and related disclosures. Estimates have been prepared on the basis of the current and available information. However, actual results could differ from estimated amounts.
Foreign Currency Translation and Foreign Currency Transactions	Foreign Currency Translation and Foreign Currency Transactions The financial position and results of operations of the Company’s operating non-U.S. subsidiaries are generally determined using the respective local currency as the functional currency of that subsidiary. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each period end. Income statement accounts are translated at the average rate of exchange prevailing during the period. Adjustments arising from the use of differing exchange rates from period to period are included in Other comprehensive gain (loss) in Stockholders’ Equity. Gains and losses resulting from foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Operations. Gains and losses resulting from foreign currency transactions were a gain of $ 27,000 and $ 76,000 for the three-months ended September 30, 2023 and 2022, respectively. Gains and losses resulting from foreign currency transactions were a gain of $ 39,000 and $ 123,000 for the nine-months ended September 30, 2023 and 2022, respectively. The Company’s non-operating subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period and nonmonetary assets and liabilities at historical rates. Gains and losses resulting from these remeasurements, and foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Operations. During the three-months ended September 30, 2023 and 2022, the Company recorded a loss of $ 1,000 and a gain of $ 6,000 , respectively. During the nine-months ended September 30, 2023 and 2022, the Company recorded a loss of $ 16,000 and a loss of $ 2,000 , respectively
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash held at deposit institutions and cash equivalents. Cash equivalents consist of short-term highly liquid investments with original maturities of three months or less from the date of purchase and consist primarily of money market funds. The Company holds cash at deposit institutions in the amount of $ 4.4 million and $ 4.1 million, of which $ 660,000 and $ 737,000 is denominated in foreign currencies in foreign institutions as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company held cash equivalents in the amount of $ 46.4 million and $ 14.1 million, respectively.
Concentrations	Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, trade receivables and other receivables. As of September 30, 2023 and December 31, 2022, substantially all of the Company’s cash was deposited in accounts at financial institutions, and amounts may exceed federally insured limits and subject to the risk of bank failure. As of September 30, 2023, no single commercial customer accounted for more than 10 % of net accounts receivable. As of December 31, 2022, one commercial customer accounted for more than 10 % of total net accounts receivable. For the three-months and nine-months ended September 30, 2023 and 2022, no single customer accounted for more than 10 % of revenues.
Employee Stock Purchase Plan ("ESPP")	Employee Stock Purchase Plan ("ESPP") The Company's Employee Stock Purchase Plan (the "ESPP"), features two six-month offering periods per year, running from June 1 to November 30 and December 1 to May 31. The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s common stock through payroll deductions of up to 15 % of their eligible compensation. Under the ESPP, employees can purchase the Company's Common Stock at the lower of 85 % of the fair value of shares on either the first or last day of the offering period. Amounts deducted and accumulated by the participant are recorded as ESPP liability and included in Accrued wages and fringe benefits in the Consolidated Balance Sheets. This amount is used to purchase shares of common stock at the end of each six-month purchase period. Once the shares are purchased, the ESPP liability is reclassified to stockholders’ equity on the purchase date. The ESPP is a compensatory plan accounted for under the expense recognition provision of share-based payment accounting standards. Compensation expense is recorded based on the fair market value at the grant date, which corresponds to the first day of each purchase period. The Black-Scholes option pricing model is used to estimate the grant date fair value.

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Available For Sale Securities [Abstract]
Summary of Amortized Cost and Estimated Fair Values of Debt Securities Available for Sale	The following table summarizes the amortized cost and estimated fair values of debt securities available-for-sale: As of September 30, 2023 Amortized Gross Gross Carrying (in thousands) Cash equivalents: Money market funds $ 46,431 $ - $ - $ 46,431 Total cash equivalents $ 46,431 $ - $ - $ 46,431 Current marketable securities: U.S. Treasury securities $ 5,451 $ 3 $ ( 14 ) $ 5,440 Commercial paper 1,593 - ( 5 ) 1,588 Corporate debt securities 550 - - 550 U.S. Government agency obligations 1,690 - ( 4 ) 1,686 Total current marketable securities $ 9,284 $ 3 $ ( 23 ) $ 9,264 As of December 31, 2022 Amortized Gross Gross Carrying (in thousands) Cash equivalents: Money market funds $ 14,089 $ - $ - $ 14,089 Total cash equivalents $ 14,089 $ - $ - $ 14,089 Current marketable securities: U.S. Treasury securities $ 43,092 $ 1 $ ( 393 ) $ 42,700 Commercial paper 12,743 - - 12,743 Corporate debt securities 3,865 - ( 23 ) 3,842 U.S. Government agency obligations 1,901 - ( 8 ) 1,893 Total current marketable securities $ 61,601 $ 1 $ ( 424 ) $ 61,178 Long-term marketable securities: Asset backed securities $ 3,568 $ 7 $ ( 3 ) $ 3,572 U.S. Treasury securities 2,416 - ( 6 ) 2,410 U.S. Government agency obligations 949 - ( 1 ) 948 Total long-term marketable securities $ 6,933 $ 7 $ ( 10 ) $ 6,930
Summary of Maturities of Debt Securities Available for Sale	The maturities of debt securities available-for-sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. As of September 30, 2023 As of December 31, 2022 (in thousands) Amortized Carrying Amortized Carrying Due in one year or less $ 9,284 $ 9,264 $ 61,601 $ 61,178 Due after one year through three years $ - $ - $ 6,933 $ 6,930

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy: As of September 30, 2023 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 46,431 $ - $ - $ 46,431 Total cash equivalents $ 46,431 $ - $ - $ 46,431 Current marketable securities: U.S. Treasury securities $ - $ 5,440 $ - $ 5,440 Commercial paper - 1,588 - 1,588 Corporate debt securities - 550 - 550 U.S. Government agency obligations - 1,686 - 1,686 Total current marketable securities $ - $ 9,264 $ - $ 9,264 Total marketable securities and cash equivalents $ 46,431 $ 9,264 $ - $ 55,695 As of December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 14,089 $ - $ - $ 14,089 Total cash equivalents $ 14,089 $ - $ - $ 14,089 Current marketable securities: U.S. Treasury securities - 42,700 - 42,700 Commercial paper - 12,743 - 12,743 Corporate debt securities - 3,842 - 3,842 U.S. Government agency obligations - 1,893 - 1,893 Total current marketable securities $ - $ 61,178 $ - $ 61,178 Long-term marketable securities: Asset backed securities $ - $ 3,572 $ - $ 3,572 U.S. Treasury securities - 2,410 - 2,410 U.S. Government agency obligations - 948 - 948 Total long-term marketable securities $ - $ 6,930 $ - $ 6,930 Total marketable securities and cash equivalents $ 14,089 $ 68,108 $ - $ 82,197

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary Of Lease Cost	The following table sets forth the Company’s operating lease expenses which are included in operating expenses in the Consolidated Statements of Operations (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 260 $ 194 $ 655 $ 582 Variable lease cost 28 13 43 38 Total lease cost $ 288 $ 207 $ 698 $ 620
Summary Of Supplemental Cash Flow Information Related To Operating Leases	Supplemental cash flow information related to operating leases for the three-months and nine-months ended September 30, 2023 and 2022 was as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 146 $ 201 $ 556 $ 598
Summary Of Supplemental Balance Sheet Information Related To Operating Leases	Supplemental balance sheet information, as of September 30, 2023 and December 31, 2022, related to operating leases was as follows (in thousands, except for operating lease weighted average remaining lease term and operating lease weighted average discount rate): As of September 30, 2023 December 31, 2022 Reported as: Operating lease right-of-use assets $ 2,607 $ 851 Total right-of-use assets $ 2,607 $ 851 Other current liabilities : Operating lease liabilities, short-term $ 904 $ 612 Operating lease liabilities, long term 1,845 306 Total operating lease liabilities $ 2,749 $ 918 Operating lease weighted average remaining lease term (years) 3.51 1.44 Operating lease weighted average discount rate 8.68 % 6.71 %
Summary Of Maturities Of The Company's Operating Lease Liabilities	As of September 30, 2023, maturities of the Company’s operating lease liabilities are as follows (in thousands): Operating Leases Remainder of 2023 $ 257 2024 1,028 2025 738 2026 684 2027 318 2028 190 Total lease payments 3,215 Less imputed interest ( 466 ) Total operating lease liabilities $ 2,749

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Summary Of Composition Of Inventory	The composition of inventory is as follows (in thousands): As of September 30, 2023 December 31, 2022 Raw materials $ 2,875 $ 1,131 Work in process 661 384 Finished goods 841 610 Total inventory $ 4,377 $ 2,125

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary Of Composition Of Intangible Assets	The composition of intangible assets, net is as follows (in thousands): As of September 30, 2023 As of December 31, 2022 Weighted Gross Accumulated Net Gross Accumulated Net Patent 1 3 $ 17 $ ( 17 ) $ - $ 17 $ ( 16 ) $ 1 Patent 2 13 140 ( 35 ) 105 137 ( 28 ) 109 Patent 3 14 204 ( 50 ) 154 194 ( 39 ) 155 Patent 5 19 98 ( 10 ) 88 89 ( 6 ) 83 Patent 6 20 44 ( 5 ) 39 43 ( 4 ) 39 Patent 7 13 2 - 2 2 - 2 Patent 8 19 10 ( 1 ) 9 13 - 13 Patent 10 19 3 - 3 3 - 3 Patent 11 19 6 ( 1 ) 5 6 - 6 Trademarks Indefinite 54 - 54 54 - 54 Total intangible assets $ 578 $ ( 119 ) $ 459 $ 558 $ ( 93 ) $ 465
Summary Of Future Amortization Of Amortizable Intangible Assets Held	The Company expects the future amortization of amortizable intangible assets held at September 30, 2023 to be as follows (in thousands): Estimated Remainder of 2023 $ 9 2024 35 2025 35 2026 35 2027 35 2028 34 Thereafter 222 Total $ 405

Plant and Equipment (Tables)

Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Composition of Property, Plant and Equipment	The composition of property, plant and equipment, net is as follows (in thousands): As of Useful Lives September 30, 2023 December 31, 2022 Computer equipment 3 years $ 951 $ 755 Computer software 3 years 840 871 Construction in progress 370 258 Furniture and fixtures 7 years 765 439 Laboratory equipment 5 years 713 643 Leasehold improvements Lesser of life or lease term 352 257 RECELL moulds 5 years 128 129 Less: accumulated amortization and depreciation ( 2,257 ) ( 2,152 ) Total plant and equipment, net $ 1,862 $ 1,200

Other Current and Long-Term A_2

Other Current and Long-Term Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Other Current And Long Term Assets And Liabilities [Abstract]
Summary of Prepaids and Other Current Assets	Prepaids and other current assets consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Prepaid expenses $ 1,509 $ 921 Investment receivable 1,500 - Lease deposits 37 110 Accrued investment income 228 168 BARDA contract costs 56 252 Other receivables 26 127 Total prepaids and other current assets $ 3,356 $ 1,578
Summary of Other Long Term Assets	Other long-term assets consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Long-term lease deposits $ 151 $ 25 Long-term prepaids 85 97 Total other long-term assets $ 236 $ 122
Summary of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): As of September 30, 2023 December 31, 2022 Operating lease liability $ 904 $ 612 BARDA deferred costs 47 194 BARDA deferred revenue 104 - Other current liabilities 286 184 Total other current liabilities $ 1,341 $ 990

Reporting Segment and Geograp_2

Reporting Segment and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule Of Revenue and Cost Of Sales By Region and Customer Type	Revenue by region for the three-months and nine-months ended September 30, 2023 and 2022 were as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Revenue: United States $ 12,961 $ 8,441 $ 33,379 $ 24,117 Foreign: Japan 581 555 2,309 555 Australia 61 57 156 173 United Kingdom 42 39 104 121 Total $ 13,645 $ 9,092 $ 35,948 $ 24,966 Revenue and cost of sales by customer type for the three-months and nine-months ended September 30, 2023 and 2022 were as follows (in thousands): Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Revenue: Commercial sales $ 13,547 $ 8,999 $ 35,673 $ 24,687 Deferred commercial revenue 8 - 25 - BARDA: Services for emergency preparedness 90 93 250 279 Total $ 13,645 $ 9,092 $ 35,948 $ 24,966 Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cost of sales: Commercial cost $ 2,110 $ 1,446 $ 5,835 $ 4,453 BARDA: Product cost ( 83 ) - ( 106 ) ( 12 ) Emergency preparedness service cost 86 84 255 253 Total $ 2,113 $ 1,530 $ 5,984 $ 4,694

Stock-Based Payment Plans (Tabl

Stock-Based Payment Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary Of Stock-based Compensation For All Equity Awards And The ESPP Reflected In The Statements Of Operations	The Company has included stock-based compensation expense for all equity awards and the ESPP as part of operating expenses in the accompanying Consolidated Statements of Operations as follows: Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Sales and marketing expenses $ 513 $ 408 $ 915 $ 1,022 General and administrative expenses 1,534 761 4,442 4,071 Research and development expenses 383 267 856 689 Total operating expenses $ 2,430 $ 1,436 $ 6,213 $ 5,782
Summary Of Share Option Activity	A summary of share option activity as of September 30, 2023, and changes during the period ended is presented below: Service Only Share Options Performance Based Share Options Total Share Options Outstanding shares at December 31, 2022 1,724,252 511,194 2,235,446 Granted 919,193 - 919,193 Exercised ( 133,750 ) ( 30,000 ) ( 163,750 ) Expired ( 59,812 ) ( 180,473 ) ( 240,285 ) Forfeited ( 58,963 ) ( 6,958 ) ( 65,921 ) Outstanding shares at September 30, 2023 2,390,920 293,763 2,684,683 Exercisable at September 30, 2023 875,323 255,629 1,130,952
Non Option Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary Of Share Option Activity	A summary of the status of the Company’s unvested RSUs as of September 30, 2023, and changes that occurred during the period is presented below: Unvested Shares Tenure-Based RSUs Performance Total RSUs Unvested RSUs outstanding at December 31, 2022 394,872 65,646 460,518 Granted 57,798 - 57,798 Vested ( 149,168 ) ( 29,340 ) ( 178,508 ) Forfeited ( 39,250 ) ( 8,286 ) ( 47,536 ) Unvested RSUs outstanding at September 30, 2023 264,252 28,020 292,272

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary Of Reconciliation Of The Basic And Diluted Loss Per Share	The following is a reconciliation of the basic and diluted loss per share computations: Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 (in thousands, except per share amounts) Net loss $ 8,712 $ 5,588 $ 28,316 $ 21,312 Weighted-average common shares—outstanding, basic and diluted 25,402 25,007 25,282 24,972 Net loss per common share, basic and diluted $ 0.34 $ 0.22 $ 1.12 $ 0.85 Three-Months Ended Nine-Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Anti-dilutive shares excluded from diluted net loss per common share: Stock options 2,684,683 1,774,070 2,684,683 1,774,070 Restricted stock units 292,272 220,920 292,272 220,920

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Compensation And Retirement Disclosure [Abstract]
Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability	The fair values of the Company’s deferred compensation plan assets and liability are included in the table below. For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 4, Fair Value Measurements. Fair Value as of September, 2023 Fair Value as of December 31, 2022 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Corporate-owned life insurance policies (1) $ - $ 2,091 $ - $ 2,091 $ - $ 1,238 $ - $ 1,238 Non-qualified deferred compensation plan liability (2) - 3,694 - 3,694 - 1,348 - 1,348 (1) The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds and are categorized as Level 2. (2) Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants.
Summary of Eligible Share Award Activity	The following table summarizes the eligible share award activity as of September 30, 2023 and December 31, 2022 (in thousands): As of (in thousands) September 30, 2023 December 31, 2022 Non-qualified deferred compensation share awards: Balance at inception/beginning of period $ 557 $ - Change in classification of deferred compensation share awards - 192 Stock-based compensation expense 475 471 Change in redemption value 998 21 Vesting of share awards held by NDQC ( 1,401 ) ( 127 ) Ending Balance $ 629 $ 557

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on foreign currency transactions				$ 23,000	$ 121,000
Cash at deposit institutions		$ 4,400,000		4,400,000		$ 4,100,000
Cash in foreign institutions		660,000		660,000		737,000
Cash equivalents held		$ 46,400,000		$ 46,400,000		$ 14,100,000
Issuance of common stock	1,000,000			0
Employee Stock Purchase Plan
Summary Of Significant Accounting Policies [Line Items]
Maximum percentage of payroll deductions allowed to purchase common stock				15%
Percentage by which purchase price of shares lower fair market value of common stock				85%
Revenue Benchmark
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer		no	no	no	no
Commercial Customer | Revenue Benchmark | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		10%	10%	10%	10%
Commercial Customer | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, customer				no		one
Commercial Customer | Accounts Receivable | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				10%		10%
General and Administrative Expense
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on foreign currency transactions		$ (1,000)	$ 6,000	$ (16,000)	$ (2,000)
General and Administrative Expense | Non-US
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on foreign currency transactions		$ 27,000	$ 76,000	$ 39,000	$ 123,000

Marketable Securities - Summary

Marketable Securities - Summary of Amortized Cost and Estimated Fair Values of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	$ 9,284	$ 61,601
Gross Unrealized Holding Gains, Current marketable securities	3	1
Gross Unrealized Holding Losses, Current marketable securities	(23)	(424)
Carrying Value, Current marketable securities	9,264	61,178
Amortized Cost, Long-term marketable securities		6,933
Gross Unrealized Holding Gains, Long-term marketable securities		7
Gross Unrealized Holding Losses, Long-term marketable securities		(10)
Carrying Value, Long-term marketable securities		6,930
Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	46,431	14,089
Carrying Value	46,431	14,089
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	550	3,865
Gross Unrealized Holding Losses, Current marketable securities		(23)
Carrying Value, Current marketable securities	550	3,842
U.S Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	5,451	43,092
Gross Unrealized Holding Gains, Current marketable securities	3	1
Gross Unrealized Holding Losses, Current marketable securities	(14)	(393)
Carrying Value, Current marketable securities	5,440	42,700
Amortized Cost, Long-term marketable securities		2,416
Gross Unrealized Holding Losses, Long-term marketable securities		(6)
Carrying Value, Long-term marketable securities		2,410
Money Market Funds | Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	46,431	14,089
Carrying Value	46,431	14,089
U.S Government Agency Obligations
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	1,690	1,901
Gross Unrealized Holding Losses, Current marketable securities	(4)	(8)
Carrying Value, Current marketable securities	1,686	1,893
Amortized Cost, Long-term marketable securities		949
Gross Unrealized Holding Losses, Long-term marketable securities		(1)
Carrying Value, Long-term marketable securities		948
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	1,593	12,743
Gross Unrealized Holding Losses, Current marketable securities	(5)
Carrying Value, Current marketable securities	$ 1,588	12,743
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Long-term marketable securities		3,568
Gross Unrealized Holding Gains, Long-term marketable securities		7
Gross Unrealized Holding Losses, Long-term marketable securities		(3)
Carrying Value, Long-term marketable securities		$ 3,572

Marketable Securities - Summa_2

Marketable Securities - Summary of Maturities of Debt Securities Available for Sale (Detail) - Contractual Maturities - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Available for sale securities, Due in one year or less, Amortized cost	$ 9,284	$ 61,601
Available for sale securities, Due in one year or less, Carrying value	$ 9,264	61,178
Available for sale securities, Due after one year through three years, Amortized cost		6,933
Available for sale securities, Due after one year through three years, Carrying value		$ 6,930

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule Of Available For Sale Securities [Line Items]
Unrealized gain on marketable securities			$ 3,000		$ 8,000
Unrealized loss on marketable securities			23,000		426,000
Net unrealized loss on marketable securities			20,000		434,000
Credit loss recognized	$ 0		0		0
Proceeds from sales of investments available-for-sale	2,400,000		2,372,000
Sales of investments		$ 0		$ 0
Gross realized losses on sales of investments available-for-sale	17,000		17,000
Prepaids and Other Current Assets
Schedule Of Available For Sale Securities [Line Items]
Accrued interest income	$ 228,000		$ 228,000		$ 168,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	$ 9,264	$ 61,178
Total long-term marketable securities		6,930
Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	46,431	14,089
Total current marketable securities	9,264	61,178
Total long-term marketable securities		6,930
Total marketable securities and cash equivalents	55,695	82,197
Fair Value on Recurring Basis | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	46,431	14,089
Total marketable securities and cash equivalents	46,431	14,089
Fair Value on Recurring Basis | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	9,264	61,178
Total long-term marketable securities		6,930
Total marketable securities and cash equivalents	9,264	68,108
Fair Value on Recurring Basis | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	46,431	14,089
Fair Value on Recurring Basis | Money Market Funds | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	46,431	14,089
Fair Value on Recurring Basis | U.S Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	5,440	42,700
Total long-term marketable securities		2,410
Fair Value on Recurring Basis | U.S Treasury Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	5,440	42,700
Total long-term marketable securities		2,410
Fair Value on Recurring Basis | Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	1,588	12,743
Fair Value on Recurring Basis | Commercial Paper | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	1,588	12,743
Fair Value on Recurring Basis | Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	550	3,842
Fair Value on Recurring Basis | Corporate Debt Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	550	3,842
Fair Value on Recurring Basis | U.S Government Agency Obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	1,686	1,893
Total long-term marketable securities		948
Fair Value on Recurring Basis | U.S Government Agency Obligations | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total current marketable securities	$ 1,686	1,893
Total long-term marketable securities		948
Fair Value on Recurring Basis | Asset-backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total long-term marketable securities		3,572
Fair Value on Recurring Basis | Asset-backed Securities | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total long-term marketable securities		$ 3,572

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation estimated revenue expected to be recognized	$ 469,000		$ 469,000		$ 698,000
Contract with customer assets	0		0		0
Contract with customer liabilities	469,000		469,000		698,000
Contract with customers non current liability	365,000		365,000		698,000
Contract with customer liability revenue recognized		$ 3,000		$ 3,000
Other Current Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customers current liability	104,000		104,000		0
Contract Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customers non current liability	365,000		365,000		698,000
BARDA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer liability revenue recognized	90,000	$ 93,000	250,000	$ 279,000
BARDA | RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation estimated revenue expected to be recognized	70,000		70,000		274,000
Japanese Pharmaceuticals and Medical Device Act Approval | RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation estimated revenue expected to be recognized	399,000		399,000		$ 424,000
COSMOTEC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer liability revenue recognized	$ 8,000		$ 25,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	May 31, 2023	Feb. 28, 2023
Leases [Abstract]
Increase in operating lease ROU assets and operating lease liabilities	$ 1.1	$ 1.1

Leases - Summary Of Lease Cost

Leases - Summary Of Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 260	$ 194	$ 655	$ 582
Variable lease cost	28	13	43	38
Total lease cost	$ 288	$ 207	$ 698	$ 620

Leases - Summary Of Supplementa

Leases - Summary Of Supplemental Cash Flow Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure Of Supplemental Cash Flow Information Related To Operating Leases [Abstract]
Operating cash outflows from operating leases	$ 146	$ 201	$ 556	$ 598

Leases - Summary Of Supplemen_2

Leases - Summary Of Supplemental Balance Sheet Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Disclosure Of Supplemental Balance Sheet Information Related To Operating Leases [Abstract]
Operating lease right-of-use assets	$ 2,607	$ 851
Total right-of-use assets	2,607	851
Operating lease liabilities, short-term	$ 904	$ 612
Operating Lease Liability Current Statement Of Financial Position Extensible List	Other current liabilities	Other current liabilities
Operating lease liabilities, long-term	$ 1,845	$ 306
Total operating lease liabilities	$ 2,749	$ 918
Operating lease weighted average remaining lease term (years)	3 years 6 months 3 days	1 year 5 months 8 days
Operating lease weighted average discount rate	8.68%	6.71%

Leases - Summary Of Maturities

Leases - Summary Of Maturities Of The Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 257
2024	1,028
2025	738
2026	684
2027	318
2028	190
Total lease payments	3,215
Less imputed interest	(466)
Total operating lease liabilities	$ 2,749	$ 918

Inventory - Summary Of Composit

Inventory - Summary Of Composition Of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 2,875	$ 1,131
Work in process	661	384
Finished goods	841	610
Total inventory	$ 4,377	$ 2,125

Inventory - Additional Informat

Inventory - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Inventory Disclosure [Abstract]
Excess and obsolete inventory related charges	$ 81,000	$ 125,000	$ 149,000	$ 284,000

Intangible Assets - Summary Of

Intangible Assets - Summary Of Composition Of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 578	$ 558
Finite Lived Intangible Assets, Accumulated Amortization	(119)	(93)
Finite Lived Intangible Assets, Net Carrying Amount	405
Intangible Assets, Net (Excluding Goodwill)	459	465
Trademarks
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 54	54
Patent 1
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Finite Lived Intangible Assets, Gross Amount	$ 17	17
Finite Lived Intangible Assets, Accumulated Amortization	$ (17)	(16)
Finite Lived Intangible Assets, Net Carrying Amount		1
Patent 2
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite Lived Intangible Assets, Gross Amount	$ 140	137
Finite Lived Intangible Assets, Accumulated Amortization	(35)	(28)
Finite Lived Intangible Assets, Net Carrying Amount	$ 105	109
Patent 3
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years
Finite Lived Intangible Assets, Gross Amount	$ 204	194
Finite Lived Intangible Assets, Accumulated Amortization	(50)	(39)
Finite Lived Intangible Assets, Net Carrying Amount	$ 154	155
Patent 5
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 98	89
Finite Lived Intangible Assets, Accumulated Amortization	(10)	(6)
Finite Lived Intangible Assets, Net Carrying Amount	$ 88	83
Patent 6
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Finite Lived Intangible Assets, Gross Amount	$ 44	43
Finite Lived Intangible Assets, Accumulated Amortization	(5)	(4)
Finite Lived Intangible Assets, Net Carrying Amount	$ 39	39
Patent 7
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite Lived Intangible Assets, Gross Amount	$ 2	2
Finite Lived Intangible Assets, Net Carrying Amount	$ 2	2
Patent 8
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 10	13
Finite Lived Intangible Assets, Accumulated Amortization	(1)
Finite Lived Intangible Assets, Net Carrying Amount	$ 9	13
Patent 10
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 3	3
Finite Lived Intangible Assets, Net Carrying Amount	$ 3	3
Patent 11
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 6	6
Finite Lived Intangible Assets, Accumulated Amortization	(1)
Finite Lived Intangible Assets, Net Carrying Amount	$ 5	$ 6

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Impairment of intangible assets	$ 0	$ 0	$ 4,000	$ 0
Amortization of intangible assets	$ 9,000	$ 8,000	26,000	$ 50,000
Impairment charge			$ 4,000

Intangible Assets - Summary o_2

Intangible Assets - Summary of Future Amortization of Amortizable Intangible assets held (Detail) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 9
2024	35
2025	35
2026	35
2027	35
2028	34
Thereafter	222
Finite Lived Intangible Assets, Net Carrying Amount	$ 405

Plant and Equipment - Summary O

Plant and Equipment - Summary Of Composition Of Property, Plant And Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Less: accumulated amortization and depreciation	$ (2,257)	$ (2,152)
Total plant and equipment, net	$ 1,862	1,200
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 951	755
Computer Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 840	871
Construction In Progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 370	258
Furniture And Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Property, Plant and Equipment, Gross	$ 765	439
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 713	643
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember
Property, Plant and Equipment, Gross	$ 352	257
RECELL Moulds
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 128	$ 129

Plant and Equipment - Additiona

Plant and Equipment - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 156,000	$ 130,000	$ 419,000	$ 388,000
Impairment charge	$ 80,000		$ 83,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	General and Administrative Expense		General and Administrative Expense

Other Current and Long-Term A_3

Other Current and Long-Term Assets and Liabilities - Summary of Prepaids and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses	$ 1,509	$ 921
Investment receivable	1,500
Lease deposits	37	110
Accrued investment income	228	168
BARDA contract costs	56	252
Other receivables	26	127
Total prepaids and other current assets	$ 3,356	$ 1,578

Other Current and Long-Term A_4

Other Current and Long-Term Assets and Liabilities - Summary of Other Long Term Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Assets, Noncurrent Disclosure [Abstract]
Long-term lease deposits	$ 151	$ 25
Long-term prepaids	85	97
Total other long-term assets	$ 236	$ 122

Other Current and Long-Term A_5

Other Current and Long-Term Assets and Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities, Current [Abstract]
Operating lease liability	$ 904	$ 612
BARDA deferred costs	47	194
BARDA deferred revenue	104
Other current liabilities	286	184
Total other current liabilities	$ 1,341	$ 990

Reporting Segment and Geograp_3

Reporting Segment and Geographic Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 Segment
Segment Reporting [Abstract]
Number of reporting segment	1

Reporting Segment and Geograp_4

Reporting Segment and Geographic Information - Schedule Of Revenue and Cost Of Sales By Region and Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Revenues	$ 13,645	$ 9,092	$ 35,948	$ 24,966
Cost of sales
Cost of sales	2,113	1,530	5,984	4,694
BARDA deferred costs			(147)	(12)
Commercial Sales
Revenue:
Revenues	13,547	8,999	35,673	24,687
Cost of sales
Cost of sales	2,110	1,446	5,835	4,453
Deferred Commercial Revenue
Revenue:
Revenues	8		25
Services For Emergency Preparedness
Revenue:
Revenues	90	93	250	279
Product Cost
Cost of sales
BARDA deferred costs	(83)		(106)	(12)
Emergency Preparedness Service Cost
Cost of sales
BARDA deferred costs	86	84	255	253
United States
Revenue:
Revenues	12,961	8,441	33,379	24,117
Japan
Revenue:
Revenues	581	555	2,309	555
Australia
Revenue:
Revenues	61	57	156	173
United Kingdom
Revenue:
Revenues	$ 42	$ 39	$ 104	$ 121

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Threatened Litigation
Litigation liability	$ 0	$ 0

Common and Preferred Stock - Ad

Common and Preferred Stock - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock shares authorized	200,000,000	200,000,000
Common stock par value	$ 0.0001	$ 0.0001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock par value	$ 0.0001	$ 0.0001
Common stock shares issued	25,550,694	25,208,436
Common stock shares outstanding	25,550,694	25,208,436
Preferred stock shares outstanding	0	0
Shareholders Of Avita Medical | ADRS
Class Of Stock [Line Items]
Reverse stock split ratio, description	One share of common stock on Nasdaq is equivalent to five CDIs on the ASX.

Stock-Based Payment Plans - Add

Stock-Based Payment Plans - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation		$ 2,400,000	$ 1,400,000	$ 6,200,000	$ 5,800,000
Income tax benefit (expense)		0	$ 0	$ 0	$ 0
Number of shares registered under Employee Stock Purchase Plan	1,000,000			0
Employee stock purchase plan effective date	Jul. 01, 2023
Accrued payroll contributions		$ 410,000		$ 410,000		$ 0

Stock-Based Payment Plans - Sum

Stock-Based Payment Plans - Summary Of Stock-based Compensation For All Equity Awards And The ESPP Reflected In The Statements Of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total operating expenses	$ 2,430	$ 1,436	$ 6,213	$ 5,782
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total operating expenses	513	408	915	1,022
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total operating expenses	1,534	761	4,442	4,071
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total operating expenses	$ 383	$ 267	$ 856	$ 689

Stock-Based Payment Plans - S_2

Stock-Based Payment Plans - Summary Of Share Option Activity (Detail) - shares	9 Months Ended
	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	2,235,446
Granted	919,193
Exercised	(163,750)
Expired	(240,285)
Forfeited	(65,921)
Ending balance	2,684,683
Exercisable	1,130,952
Service Only Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	1,724,252
Granted	919,193
Exercised	(133,750)
Expired	(59,812)
Forfeited	(58,963)
Ending balance	2,390,920
Exercisable	875,323
Performance Based Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	511,194
Exercised	(30,000)
Expired	(180,473)
Forfeited	(6,958)
Ending balance	293,763
Exercisable	255,629

Stock-Based Payment Plans - S_3

Stock-Based Payment Plans - Summary Of Company Unvested RSUs (Detail)	9 Months Ended
	Sep. 30, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	460,518
Unvested RSUs granted	57,798
Unvested RSUs vested	(178,508)
Unvested RSUs forfeited	(47,536)
Unvested RSUs ending balance	292,272
Non Options Tenure Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	394,872
Unvested RSUs granted	57,798
Unvested RSUs vested	(149,168)
Unvested RSUs forfeited	(39,250)
Unvested RSUs ending balance	264,252
Non Option Performance Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	65,646
Unvested RSUs vested	(29,340)
Unvested RSUs forfeited	(8,286)
Unvested RSUs ending balance	28,020

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Line Items]
Provision for income tax	$ 11,000	$ 4,000	$ 54,000	$ 12,000

Net Loss per Share - Summary of

Net Loss per Share - Summary of Reconciliation of The Basic And Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement [Table]
Net loss	$ 8,712	$ 5,588	$ 28,316	$ 21,312
Weighted-average common shares – outstanding, basic	25,401,754	25,006,995	25,281,920	24,972,331
Weighted-average common shares – outstanding, diluted	25,401,754	25,006,995	25,281,920	24,972,331
Net loss per common share, basic	$ (0.34)	$ (0.22)	$ (1.12)	$ (0.85)
Net loss per common share, diluted	$ (0.34)	$ (0.22)	$ (1.12)	$ (0.85)

Net Loss per Share - Summary _2

Net Loss per Share - Summary of Anti-dilutive shares Excluded From Diluted Net Loss Per Common share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock options
Statement [Table]
Aggregate number of common equivalent shares excluded from computations of diluted net loss per common share (in shares)	2,684,683	1,774,070	2,684,683	1,774,070
Restricted Stock Units (RSUs)
Statement [Table]
Aggregate number of common equivalent shares excluded from computations of diluted net loss per common share (in shares)	292,272	220,920	292,272	220,920

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2023 shares
Earnings Per Share [Abstract]
Aggregate number of common equivalent shares excluded from computations of diluted net loss per common share (in shares)	117,909

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay			6%
Employers contribution to retirement plan	$ 263,000	$ 312,000	$ 934,000	$ 783,000
Deferred compensation plan liability	3,700,000		$ 3,700,000		$ 1,300,000
Number of shares awards deferred, unvested			81,052		253,048
Deferred compensation arrangement with individual, shares vested			117,909		17,927
Payout of deferred compensation liability for terminated employees	753,000
Deferred compensation arrangement with individual, vested redemption value			$ 1,300,000		$ 127,000
Other Current Liabilities
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan liability	300,000		$ 300,000		78,000
Non-Qualified Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting period			2 years
Employer contributions to deferred compensation plan	80,000	$ 75,000	$ 161,000	$ 197,000
Deferred compensation plan liability	$ 3,400,000		$ 3,400,000		$ 1,300,000
Non-Qualified Deferred Compensation Plans | Vesting on Year One
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage			25%
Non-Qualified Deferred Compensation Plans | Vesting on Year Two
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage			75%
Non-Qualified Deferred Compensation Plans | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay			4%
Non-Qualified Deferred Compensation Plans | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay			6%

Retirement Plans - Summary of F

Retirement Plans - Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Non-qualified deferred compensation liability		$ 3,361	$ 1,270
Non-Qualified Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Corporate-owned life insurance policies	[1]	2,091	1,238
Non-qualified deferred compensation liability	[2]	3,694	1,348
Non-Qualified Deferred Compensation Plans | Level 2
Defined Benefit Plan Disclosure [Line Items]
Corporate-owned life insurance policies	[1]	2,091	1,238
Non-qualified deferred compensation liability	[2]	$ 3,694	$ 1,348
[1] The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds and are categorized as Level 2. Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants.

Retirement Plans - Summary of E

Retirement Plans - Summary of Eligible Share Award Activity (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Change in classification of deferred compensation share awards		$ (192)
Stock-based compensation expense	$ 6,213	$ 5,782
Non-qualified | Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Balance at inception/beginning of period	557
Change in classification of deferred compensation share awards			$ 192
Stock-based compensation expense	475		471
Change in redemption value	998		21
Vesting of share awards held by NDQC	(1,401)		(127)
Ending Balance	$ 629		$ 557

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event	Oct. 18, 2023 USD ($) $ / shares shares
Subsequent Event [Line Items]
Debt Instrument, fixed percentage	4%
Quarterly installment percentage of funded amount	5%
Warrants, exercise price | $ / shares	$ 10.9847
Warrants, expiration term	10 years
Maximum
Subsequent Event [Line Items]
Number of shares purchased, warrants | shares	409,661
SOFR
Subsequent Event [Line Items]
Debt Instrument, variable percentage	8%
Senior Secured Credit Facility | OrbiMed
Subsequent Event [Line Items]
Credit agreement term	5 years
Aggregate principal amount	$ 90,000,000
Current borrowing capacity	40,000,000
Senior Secured Credit Facility | OrbiMed | Two Separate 25.0 Million Tranches
Subsequent Event [Line Items]
Remaining borrowing capacity	50,000,000
Senior Secured Credit Facility | OrbiMed | Tranches
Subsequent Event [Line Items]
Remaining borrowing capacity	25,000,000
Senior Secured Credit Facility | OrbiMed | First Tranche On or Prior to December 31, 2024
Subsequent Event [Line Items]
Remaining borrowing capacity	25,000,000
Senior Secured Credit Facility | OrbiMed | Second Tranche On or Prior to June 30, 2025
Subsequent Event [Line Items]
Remaining borrowing capacity	$ 25,000,000