VBI Vaccines (VBIVQ) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-37769
Entity Registrant Name	VBI Vaccines Inc/BC
Entity Central Index Key	0000764195
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	222 Third Street
Entity Address, Address Line Two	Suite 2241
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02142
City Area Code	617
Local Phone Number	830-3031
Title of 12(b) Security	Common Share, no par value per share
Trading Symbol	VBIV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		242,052,726

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 95,158	$ 44,213
Short-term investments	25,220
Accounts receivable, net	27	201
Inventory, net	1,542	1,075
Prepaid expenses	2,293	1,024
Other current assets	2,153	450
Total current assets	126,393	46,963
NON-CURRENT ASSETS
Other long-term assets	622	620
Property and equipment, net	9,577	10,195
Right of use assets	1,642	1,459
Intangible assets, net	59,168	60,756
Goodwill	2,152	2,208
Total non-current assets	73,161	75,238
TOTAL ASSETS	199,554	122,201
CURRENT LIABILITIES
Accounts payable	3,356	1,127
Other current liabilities	9,338	12,261
Current portion of deferred revenues	408	882
Current portion of lease liability	848	642
Current portion of long-term debt, net of debt discount - related party		14,845
Total current liabilities	13,950	29,757
NON-CURRENT LIABILITIES
Lease liability, net of current portion	798	817
Long-term debt, net of debt discount	15,862		[1]
Liabilities for severance pay	485	463
Deferred revenues, net of current portion	2,653	2,909
Total non-current liabilities	19,798	4,189
COMMITMENTS AND CONTINGENCIES (NOTE 13)
STOCKHOLDERS’ EQUITY
Common shares (unlimited authorized; no par value) (September 30, 2020 - issued and outstanding 242,039,480; December 31, 2019 - issued and outstanding 178,257,199)	387,718	284,965
Additional paid-in capital	74,084	66,430
Accumulated other comprehensive loss	(2,740)	(752)
Accumulated deficit	(293,256)	(262,388)
Total stockholders’ equity	165,806	88,255
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 199,554	$ 122,201
[1]	2019 long term debt was due to Perceptive Credit Holdings LP, a related party.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, unlimited authorized	Unlimited	Unlimited
Common stock, no par value	$ 0	$ 0
Common stock, shares issued	242,039,480	178,257,199
Common stock, shares outstanding	242,039,480	178,257,199

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 298	$ 647	$ 897	$ 1,647
Operating expenses:
Cost of revenues	2,111	1,977	6,747	5,319
Research and development	4,478	5,401	10,035	21,989
General and administrative	5,562	9,412	13,520	16,570
Total operating expenses	12,151	16,790	30,302	43,878
Loss from operations	(11,853)	(16,143)	(29,405)	(42,231)
Interest expense, net of interest income (including related party - see Note 8)	(742)	(626)	(2,006)	(1,672)
Foreign exchange (loss) gain	(402)	607	543	(35)
Loss before income taxes	(12,997)	(16,162)	(30,868)	(43,938)
Income tax expense
NET LOSS	(12,997)	(16,162)	(30,868)	(43,938)
Other comprehensive income (loss)	1,696	(1,165)	(1,988)	2,308
COMPREHENSIVE LOSS	$ (11,301)	$ (17,327)	$ (32,856)	$ (41,630)
Net loss per share of common shares, basic and diluted	$ (0.06)	$ (0.15)	$ (0.15)	$ (0.44)
Weighted-average number of common shares outstanding, basic and diluted	234,709,403	105,742,073	210,044,126	99,627,345

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2018	$ 246,417	$ 63,449	$ (4,158)	$ (207,575)	$ 98,133
Balance, shares at Dec. 31, 2018	97,343,777
Stock-based compensation	$ 431	831			1,262
Stock-based compensation, shares	318,110
Common shares issued upon exercise of warrants, shares
Net loss				(14,606)	(14,606)
Warrant modification in connection with debt amendment		179			179
Currency translation adjustments			1,727		1,727
Ending balance, value at Mar. 31, 2019	$ 246,848	64,459	(2,431)	(222,181)	86,695
Balance, shares at Mar. 31, 2019	97,661,887
Stock-based compensation	$ 428	554			982
Stock-based compensation, shares	95,312
Net loss				(13,170)	(13,170)
Currency translation adjustments			1,746		1,746
Ending balance, value at Jun. 30, 2019	$ 247,276	65,013	(685)	(235,351)	76,253
Balance, shares at Jun. 30, 2019	97,757,199
Stock-based compensation	$ 201	675			876
Stock-based compensation, shares
Net loss				(16,162)	(16,162)
Common shares issued in financing transaction	$ 37,415				37,415
Common shares issued in financing transaction, shares	80,500,000
Currency translation adjustments			(1,165)		(1,165)
Ending balance, value at Sep. 30, 2019	$ 284,892	65,688	(1,850)	(251,513)	97,217
Balance, shares at Sep. 30, 2019	178,257,199
Beginning balance, value at Dec. 31, 2019	$ 284,965	66,430	(752)	(262,388)	88,255
Balance, shares at Dec. 31, 2019	178,257,199
Stock-based compensation	$ 131	1,056			1,187
Stock-based compensation, shares	118,471
Common shares issued in financing transaction, net of issuance costs
Common shares issued in financing transaction, net of issuance costs, shares
Warrants issued in connection with financing transactions
Warrants issued in connection with financing transactions, shares
Conversion feature issued in debt financing transaction
Common shares issued upon exercise of warrants
Common shares issued up on exercise of options
Common shares issued up on exercise of options, shares
Net loss				(8,358)	(8,358)
Unrealized holding gains on short-term investments
Warrant modification in connection with debt amendment
Common shares issued in financing transaction
Common shares issued in financing transaction, shares
Currency translation adjustments			(6,653)		(6,653)
Ending balance, value at Mar. 31, 2020	$ 285,096	67,486	(7,405)	(270,746)	74,431
Balance, shares at Mar. 31, 2020	178,375,670
Beginning balance, value at Dec. 31, 2019	$ 284,965	66,430	(752)	(262,388)	88,255
Balance, shares at Dec. 31, 2019	178,257,199
Ending balance, value at Sep. 30, 2020	$ 387,718	74,084	(2,740)	(293,256)	165,806
Balance, shares at Sep. 30, 2020	242,039,480
Beginning balance, value at Mar. 31, 2020	$ 285,096	67,486	(7,405)	(270,746)	74,431
Balance, shares at Mar. 31, 2020	178,375,670
Stock-based compensation	$ 91	983			1,074
Stock-based compensation, shares
Common shares issued in financing transaction, net of issuance costs	$ 53,894				53,894
Common shares issued in financing transaction, net of issuance costs, shares	52,272,726
Warrants issued in connection with financing transactions	$ (453)	1,634			1,181
Warrants issued in connection with financing transactions, shares
Conversion feature issued in debt financing transaction		2,577			2,577
Net loss				(9,513)	(9,513)
Currency translation adjustments			2,969		2,969
Ending balance, value at Jun. 30, 2020	$ 338,628	72,680	(4,436)	(280,259)	126,613
Balance, shares at Jun. 30, 2020	230,648,396
Stock-based compensation	$ 89	1,404			1,493
Stock-based compensation, shares
Common shares issued in financing transaction, net of issuance costs	$ 47,163				47,163
Common shares issued in financing transaction, net of issuance costs, shares	10,840,334
Common shares issued upon exercise of warrants	$ 1,837				1,837
Common shares issued upon exercise of warrants, shares	550,000
Common shares issued up on exercise of options	$ 1				1
Common shares issued up on exercise of options, shares	750
Net loss				(12,997)	(12,997)
Unrealized holding gains on short-term investments			125		125
Currency translation adjustments			1,571		1,571
Ending balance, value at Sep. 30, 2020	$ 387,718	$ 74,084	$ (2,740)	$ (293,256)	$ 165,806
Balance, shares at Sep. 30, 2020	242,039,480

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (30,868)	$ (43,938)
Adjustments to reconcile net loss to cash and cash equivalents used in operating activities:
Depreciation and amortization	1,218	798
Stock-based compensation	3,754	3,120
Amortization of debt discount	1,102	753
Impairment of goodwill		6,292
Interest accrued on short-term investments	(95)
Net change in operating working capital items:
Change in accounts receivable	173	(127)
Change in inventory	(458)	(427)
Change in prepaid expenses	(1,267)	(175)
Change in other current assets	(1,676)	(510)
Change in other long-term assets	(3)	6
Change in operating right of use assets	724	768
Change in accounts payable	2,167	(3,129)
Change in deferred revenues	(646)	(1,300)
Change in other current liabilities	(3,962)	(1,545)
Payments made on operating lease liabilities	(718)	(768)
Net cash flows used in operating activities	(30,555)	(40,182)
INVESTING ACTIVITIES
Purchase of short-term investments	(25,000)
Purchase of property and equipment	(468)	(3,487)
Net cash flows used in investing activities	(25,468)	(3,487)
FINANCING ACTIVITIES
Proceeds from issuance of common shares for cash	106,269	40,250
Share issuance costs	(4,919)	(2,756)
Proceeds from issuance of common shares for cash, upon exercise of warrants	1,837
Proceeds from issuance of common shares for cash, upon exercise of stock options	1
Proceeds from debt financing	20,000
Debt issuance costs	(1,021)
Repayment of long-term debt	(15,300)
Net cash flows provided by financing activities	106,867	37,494
Effect of exchange rates on cash and cash equivalents	101	(79)
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE PERIOD	50,945	(6,254)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	44,213	59,270
CASH AND CASH EQUIVALENTS, END OF PERIOD	95,158	53,016
Supplementary information:
Interest paid	1,187	1,539
Non-cash investing and financing activities:
Warrant modification in connection with debt amendment		179
Warrants issued in connection with financing activities	1,634
K2 conversion feature in connection with financing activities	2,577
Capital expenditures included in accounts payable and other current liabilities	(86)	(132)
Share issuance costs included in other current liabilities	(293)	(79)
Unrealized holding gains on short term investment	$ (125)

NATURE OF BUSINESS AND CONTINUA

NATURE OF BUSINESS AND CONTINUATION OF BUSINESS	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND CONTINUATION OF BUSINESS	1. NATURE OF BUSINESS AND CONTINUATION OF BUSINESS Corporate Overview VBI Vaccines Inc. (the “Company” or “VBI”) was incorporated under the laws of British Columbia, Canada on April 9, 1965. The Company and its wholly-owned subsidiaries, VBI Vaccines (Delaware) Inc., a Delaware corporation (“VBI DE”); VBI DE’s wholly-owned subsidiary, Variation Biotechnologies (US), Inc., a Delaware corporation (“VBI US”); Variation Biotechnologies Inc. a Canadian company and a wholly-owned subsidiary of VBI US (“VBI Cda”); SciVac Ltd. an Israeli company (“SciVac”), and SciVac Hong Kong Limited (“SciVac HK”) are collectively referred to as the “Company,” “we,” “us,” “our,” or “VBI”. The Company’s registered office is located at Suite 1700, Park Place, 666 Burrard Street, Vancouver, BC V6C 2X8 with its principal office located at 222 Third Street, Suite 2241, Cambridge, MA 02142. Principal Operations VBI is a commercial-stage, biopharmaceutical company developing a next generation of vaccines to address unmet needs in infectious disease and immuno-oncology. We are advancing the prevention and treatment of hepatitis B, with: (1) the only 3-antigen hepatitis B vaccine, Sci-B-Vac, which is approved for use and commercially available in Israel, and recently completed a pivotal Phase III program in the United States, Europe, and Canada; and (2) VBI-2601 (BRII-179), an immunotherapeutic candidate in development in collaboration with Brii Biosciences Limited (“Brii Bio”) for a functional cure for chronic hepatitis B. Our enveloped virus-like particle (“eVLP”) platform technology enables the development of eVLP vaccines that closely mimic the target virus to elicit a potent immune response. Our lead eVLP program candidates include VBI-1901, a glioblastoma (“GBM”) vaccine immunotherapeutic candidate, VBI-1501, our prophylactic cytomegalovirus (“CMV”) vaccine candidate, and VBI-2900, our prophylactic coronavirus vaccine program. Our coronavirus vaccine program includes both (1) VBI-2901, a trivalent pan-coronavirus vaccine candidate expressing the SARS-CoV-2 (COVID-19), SARS-CoV (SARS), and MERS-CoV (MERS) spike proteins; and (2) VBI-2902, a monovalent vaccine candidate expressing the SARS-CoV-2 (COVID-19) spike protein. We are headquartered in Cambridge, Massachusetts, with research operations in Ottawa, Canada. Our manufacturing site in Rehovot, Israel produces Sci-B-Vac and VBI-2601 while our eVLP vaccine candidates are manufactured using contract development and manufacturing organizations located in the United States and Canada. The ongoing COVID-19 pandemic has materially negatively affected and continues to affect the global economy, and there is continued severe uncertainty about the duration and intensity of the impacts of the pandemic. As a result, the Company’s business and results of operations have also been adversely affected and could continue to be adversely affected by COVID-19 which has necessitated restricting the number of personnel in the Company’s research laboratories and manufacturing facility at any given point in time, and has slowed recruitment to clinical trials. The extent to which the COVID-19 pandemic will continue to impact our business will depend on future developments, which are highly uncertain and cannot be predicted. We do not yet know the full extent of potential delays or impacts on our business, our clinical studies, our research programs, the recoverability of our assets, and our manufacturing; however, the COVID-19 pandemic may disrupt or delay our business operations, including with respect to efforts relating to potential business development transactions, and it could disrupt the marketplace which could have an adverse effect on our operations. Liquidity and Going Concern The Company faces a number of risks, including but not limited to, uncertainties regarding the success of the development and commercialization of its products, demand and market acceptance of the Company’s products, and reliance on major customers. The Company anticipates that it will continue to incur significant operating costs and losses in connection with the development of its products. The Company had an accumulated deficit of $ 293,256 as of September 30, 2020 and cash outflows from operating activities of $ 30,555 for the nine months ended September 30, 2020. The Company will require significant additional funds to conduct clinical and non-clinical trials, achieve regulatory approvals, and, subject to such approvals, commercially launch its products. The Company plans to finance near term future operations with existing cash and cash equivalents reserves. Additional financing may be obtained from the issuance of equity securities, the issuance of additional debt, structured asset financings, government grants or other subsidies, and/or revenues from potential business development transactions, if any. There is no assurance the Company will manage to obtain these sources of financing, if required. The above conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. In April 2020, the Company closed an underwritten public offering of 52,272,726 1.10 57,500 3,606 53,894 705,000 1.50 In May 2020, the Company refinanced its existing term loan facility with Perceptive Credit Holdings, LP and entered into a Loan and Guaranty Agreement (the “Loan Agreement”) with K2 HealthVentures LLC for net proceeds of $ 4.5 million. The refinanced long-term debt has a maturity date of June 1, 2024 . See Note 8 for more details. On July 21, 2020, we issued 550,000 3.34 1,837 On July 31, 2020, the Company entered into an Open Market Sale Agreement SM 125 million from time to time through Jefferies, acting as agent or principal (the “ATM Program”). Common shares are offered pursuant to a sales agreement prospectus included in the Company’s automatic shelf registration on Form S-3 filed with the United States Securities and Exchange Commission (“SEC”) on July 31, 2020. During the third quarter of 2020, the Company issued 10,840,334 common shares under the ATM Program, for total gross proceeds of $ 48,769 4.4988 . The Company incurred $ 1,606 of shares issuance costs related to the common shares issued resulting in net proceeds of $ 47,163 . As of September 30, 2020, approximately $ 76,231 of common shares remained available for issuance under the ATM Program. On July 3, 2020, the Company and the National Research Council of Canada (“NRC”) signed a contribution agreement as represented by its Industrial Research Assistance Program (“IRAP”) whereby the NRC agrees to contribute up to CAD $ 1,000 235 On September 16, 2020, the Company and Her Majesty the Queen in Right of Canada as represented by the Minister of Industry (“ISED”) signed a contribution agreement (the “Contribution Agreement”) for a contribution from the Strategic Innovation Fund (“SIF”) whereby ISED agrees to contribute up to CAD $ 55,976 to support the development of the Company’s coronavirus vaccine program, through Phase II clinical studies, for a period commencing on April 15, 2020 and ending in or before the first quarter of 2022. Grants of CAD $ 731 are recognized in the statement of operations and comprehensive loss for the three and nine months ended September 30, 2020. In connection with execution of the Contribution Agreement, the Company obtained a consent of K2 HealthVentures LLC, as administrative agent for the lenders and a lender, pursuant to the Loan Agreement. Pursuant to the consent, certain events of default that result in contributions made under the Contribution Agreement in excess of $ 500 becoming due and payable could result in an event of default under the Loan Agreement. See Note 8 for more details on the Loan Agreement. Financial instruments recognized in the condensed consolidated balance sheet consist of cash and cash equivalents, short-term investments, accounts receivable, other current assets, accounts payable, and other current liabilities. The Company believes that the carrying value of its current financial instruments approximates their fair values due to the short-term nature of these instruments. The Company does not hold any derivative financial instruments. The carrying amounts of the Company’s long-term assets approximate their respective fair values.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The Company’s fiscal year ends on December 31 of each calendar year. The accompanying unaudited condensed consolidated financial statements have been prepared in U.S. dollars (“USD”) and pursuant to the rules and regulations of the SEC, for interim reporting. Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with United States of America generally accepted accounting principles (“U.S. GAAP”), have been condensed or omitted pursuant to such rules and regulations. The December 31, 2019 consolidated balance sheet in this document was derived from the audited consolidated financial statements. The condensed consolidated financial statements and notes included in this quarterly report on Form 10-Q (this “Form 10-Q”) does not include all of the disclosures required by U.S. GAAP and should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 10-K”), as filed with the SEC on March 5, 2020. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: VBI DE, VBI US, VBI Cda, SciVac, and SciVac HK. Intercompany balances and transactions between the Company and its subsidiaries are eliminated in the condensed consolidated financial statements. In the opinion of management, these condensed consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the periods presented. The results for the periods presented are not necessarily indicative of results to be expected for the full year or for any future periods. Significant Accounting Policies The significant accounting policies used in the preparation of these condensed consolidated financial statements are disclosed in the 2019 10-K, and there have been no changes to the Company’s significant accounting policies during the nine months ended September 30, 2020, other than the polices discussed below. Cash and cash equivalents Cash and cash equivalents include cash investments in interest-bearing accounts and term deposits which can readily be redeemed for cash or are issued for terms of three months or less from the date of acquisition. Short-term investments Short-term investments consist of redeemable short-term investments held with Schedule 1 Canadian banks for maturity terms greater than 3 months but less than a year from the date of acquisition. Short-term investments were initially classified as available for sale and were measured at fair value whereby unrealized holding gains or losses on these investments are reported in other comprehensive income or loss and accrued interest income was recognized in interest expense, net of interest income in the condensed consolidated statement of operations and comprehensive loss. On September 30, 2020 we re-assessed the classification of our short-term investment and we determined that the short-term investment shall be classified as held to maturity. The transfer on September 30, 2020 occurred at fair value with the unrealized holding gains remaining in other comprehensive income or loss. The unrealized holding gains will be amortized over the remaining life of the security until April 2021. Our short-term investments are considered level 2 in the fair value hierarchy. The fair value of the short-term investment was determined using the market approach method and the inputs include comparable market interest rates at September 30, 2020. Government Grants Government grants are recognized in the statement of operations and comprehensive loss in the same period as the relevant expenses, in compliance with the agreement, as a reduction in the related expense or reduce the carrying value of the asset being acquired.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	3. NEW ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements Intangibles – Goodwill and Other, Internal-Use Software In August 2018, the FASB issued ASU 2018-15: Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customers’ accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. Our adoption of this ASU, effective January 1, 2020, was applied prospectively and did not have a material impact on our condensed consolidated financial statements and the related footnote disclosures. Recently Issued Accounting Standards, not yet Adopted None

INVENTORY, NET

INVENTORY, NET	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORY, NET	4. INVENTORY, NET Inventory is stated at the lower of cost or market and consists of the following: SCHEDULE OF INVENTORY September 30, December 31, Finished goods $ - $ 58 Work-in-process 374 237 Raw materials 1,168 780 Inventory, net $ 1,542 $ 1,075

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	5. INTANGIBLE ASSETS AND GOODWILL The Company’s intangible assets determined to have indefinite useful lives including In-Process Research and Development (“IPR&D”) and goodwill, are tested for impairment annually, or more frequently if events or circumstances indicate that the assets might be impaired. Such circumstances could include but are not limited to: (1) a significant adverse change in legal factors or in business climate, (2) unanticipated competition, or (3) an adverse action or assessment by a regulator. The Company has established August 31st as the date for its annual impairment test of IPR&D and goodwill. The costs of rights to IPR&D projects acquired in an asset acquisition are expensed in the consolidated statements of operations unless the project has an alternative future use. These costs include initial payments incurred prior to regulatory approval in connection with research and development agreements that provide rights to develop, manufacture, market and/or sell pharmaceutical products. The IPR&D assets, which consist of the CMV and GBM programs, were acquired in a business combination, capitalized as an intangible asset and are tested for impairment at least annually until commercialization, after which time the IPR&D will be amortized over its estimated useful life. The impairment test compares the carrying amount of the IPR&D asset to its fair value. If the carrying amount exceeds the fair value of the asset, such excess is recorded as an impairment loss. There was no IPR&D impairment determined as a result of the Company’s annual testing on August 31, 2020. The fair value of the IPR&D assets included in the impairment test was determined using the income approach method and is considered Level 3 in the fair value hierarchy. Some of the more significant estimates and assumptions inherent in the estimate of the fair value of IPR&D assets include the amount and timing of costs to develop the IPR&D into viable products, the amount and timing of future cash inflows, the discount rate and the probability of technical and regulatory success applied to the cash flows. The discount rate used was 11% and the cumulative probability of technical and regulatory success to achieve approval to market the products ranged from approximately 6% to 17% . SCHEDULE OF INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CUMULATIVE CURRENCY TRANSLATION September 30, 2020 Gross Carrying Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (569 ) $ - $ 31 $ 131 IPR&D assets 61,500 - (300 ) (2,163 ) 59,037 $ 62,169 $ (569 ) $ (300 ) $ (2,132 ) $ 59,168 December 31, 2019 Gross Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (521 ) $ - $ 30 $ 178 IPR&D assets 61,500 - (300 ) (622 ) 60,578 $ 62,169 $ (521 ) $ (300 ) $ (592 ) $ 60,756 The Company amortizes intangible assets with finite lives on a straight-line basis over their estimated useful lives. The change in carrying value for IPR&D assets from December 31, 2019 relates to currency translation adjustments which decreased by $ 1,541 Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. When evaluating goodwill for impairment, we may first perform an assessment qualitatively whether it is more likely than not that a reporting unit’s carrying amount exceeds its fair value, referred to as a “step zero” approach. Subsequently (if necessary, after step zero), if the carrying value of a reporting unit exceeded its fair value an impairment would be recorded. We would perform our goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. There was no goodwill impairment determined as a result of the Company’s annual testing on August 31, 2020. The fair value of the Company, which consists of a single reporting unit, included in the impairment test was determined using the closing market stock price of VBI as of August 31, 2020. SCHEDULE OF GOODWILL September 30, 2020 Gross Carrying Amount Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (270 ) $ 2,152 December 31, 2019 Gross Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (214 ) $ 2,208 The change in carrying value for goodwill from December 31, 2019 relates to currency translation adjustments which decreased by $ 56

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	6. OTHER CURRENT LIABILITIES Other current liabilities consisted of the following: SCHEDULE OF OTHER CURRENT LIABILITIES September 30, December 31, Accrued research and development expenses (including clinical trial accrued expenses) $ 6,377 $ 9,247 Accrued professional fees 958 446 Payroll and employee-related costs 1,632 2,184 Other current liabilities 371 384 Total Other current liabilities $ 9,338 $ 12,261

LOSS PER SHARE OF COMMON SHARES

LOSS PER SHARE OF COMMON SHARES	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
LOSS PER SHARE OF COMMON SHARES	7. LOSS PER SHARE OF COMMON SHARES Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during each period. Diluted loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as warrants, and stock options, which would result in the issuance of incremental shares of common shares unless such effect is anti-dilutive. In computing the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remains the same for both calculations due to the fact that when a net loss exists, dilutive shares are not included in the calculation as their effect would be anti-dilutive. These potentially dilutive securities are more fully described in Note 9, Stockholders’ Equity and Additional Paid-in Capital. The following potentially dilutive securities outstanding at September 30, 2020 and 2019 have been excluded from the computation of diluted weighted average shares outstanding, as they would be antidilutive: SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING September 30, September 30, Warrants 3,398,824 2,618,824 Stock options and equity awards 12,580,297 6,814,104 K2 conversion feature 2,739,726 - 18,718,847 9,432,928

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2020
Long-term Debt
LONG-TERM DEBT	8. LONG-TERM DEBT As of September 30, 2020, and December 31, 2019, the long-term debt is as follows: SCHEDULE OF LONG-TERM DEBT September 30, December 31, Long-term debt, net of debt discount $ 15,862 $ 14,845 * Less: current portion, net of debt discount - 14,845 * Long-term debt $ 15,862 $ - * * 2019 long term debt was due to Perceptive Credit Holdings LP, a related party. On May 22, 2020, the Company (along with its subsidiary VBI Cda) entered into the Loan Agreement with K2 HealthVentures LLC and any other lender from time to time party thereto (the “Lenders”) pursuant to which we received the first tranche secured term loan of $ 20 million (the “First Tranche Term Loan”). The Lenders agreed to make available the following additional tranches subject to the following conditions and upon the submission of a loan request by the Company: (1) up to $10 million available between January 1, 2021 and April 30, 2021 upon achievement of certain milestones (the “Second Tranche Term Loan”), (2) $10 million available between the closing date and December 31, 2021, subject to achievement of a certain U.S. Food and Drug Administration approval (the “Third Tranche Term Loan”), and (3) a final tranche of up to $ 10 million that can be made available any time prior to June 30, 2022, subject to the advance of the Third Tranche Term Loan, satisfactory review by the administrative agent of our financial and operating plan, and approval by the Lenders’ investment committee (the “Fourth Tranche Term Loan”). Pursuant to the Loan Agreement, the Lenders have the ability to convert, at the Lenders’ option, up to $ 4 million of the secured term loan into common shares of the Company at a conversion price of $ 1.46 per share (“K2 conversion feature”). In connection with the Loan Agreement, on May 22, 2020, the Company issued the Lenders a warrant to purchase up to 625,000 common shares (the “K2 Warrant”) at an exercise price of $ 1.12 (the “Warrant Price”). The number of common shares issuable pursuant to the K2 Warrant, at any given time, is determined by the aggregate principal amount of the loans advanced at that time pursuant to the Loan Agreement multiplied by 3.5% and divided by the Warrant Price. If the full $50 million available in all K2 tranches is advanced pursuant to the Loan Agreement, up to 1,562,500 common shares will be issuable pursuant to the K2 Warrant. The K2 Warrant may be exercised either for cash or on a cashless “net exercise” basis and expires on May 22, 2030 . The total proceeds attributed to the K2 Warrant was $ 1,181 based on the relative fair value of the K2 Warrant as compared to the sum of the fair values of the K2 Warrant, K2 conversion feature and debt. The effective conversion price of the K2 conversion feature of $ 1.52 was determined to be less than the fair value of the underlying common stock at the date of commitment, resulting in a beneficial conversion feature (“BCF”) at that date. The intrinsic value of the BCF was $ 2,577 and recorded to additional paid-in capital. The K2 warrant and the K2 conversion feature resulted in the debt being issued at a discount. The Company also incurred $ 1,021 of debt issuance costs and is required to make a final payment equal to 6.95% of the aggregate secured term loan principal outstanding on the maturity date of the term loan, or upon earlier prepayment of the term loans in accordance with the Loan Agreement, resulting in an additional discount of $ 1,390 . The total debt discount is $ 6,169 . See Note 9 for more detail on assumptions used in the valuation of the K2 Warrant. Upon receipt of additional funds under the Loan Agreement, additional common shares will be issuable pursuant to the K2 Warrant as determined by the principal amount of the additional funds advanced multiplied by 3.5% and divided by the Warrant Price, and the final payment will increase by 6.95% of the funds advanced. The total principal amount of the loan under the Loan Agreement outstanding at September 30, 2020, including the $ 1,390 21,390 8.25% 5.00% 8.25% 10 January 1, 2023 Upon the occurrence of an Event of Default, and during the continuance of an Event of Default, the applicable rate of interest, described above, will be increased by 5.00% June 1, 2024 The obligations under the Loan Agreement are secured on a senior basis by a lien on substantially all of the assets of the Company and its subsidiaries other than intellectual property. The subsidiaries of the Company, other than VBI Cda and SciVac HK, are guarantors of the obligations of the Company and VBI Cda under the Loan Agreement. The Loan Agreement also contains customary events of default. Approximately $ 14.5 million of the proceeds received were used to repay the Company’s existing loan facility with Perceptive Credit Holdings, LP, a related party (“Perceptive”), which was due on June 30, 2020. The early repayment resulted in a loss on extinguishment of debt of $ 84 , which is included in interest expense, net of interest income on the condensed consolidated statement of operations and comprehensive loss. On May 6, 2016, the Company through VBI US assumed a term loan facility with Perceptive in the amount of $ 6,000 (the “Facility”). On December 6, 2016, the Company amended the Facility (the “Amended Credit Facility”) and raised Perceptive commitment amount to $ 13,200 , which was combined with the remaining balance from the Facility of $ 1,800 . In connection with the Amended Credit Facility, on December 6, 2016, the Company issued to Perceptive two warrants; the first warrant to purchase 363,771 shares of the Company’s common shares at an exercise price of $ 4.13 , and the second warrant to purchase 1,341,282 shares of the Company’s common shares at an exercise price of $ 3.355 . The total proceeds attributed to the warrants was $ 2,793 based on the relative fair value of the warrants as compared to the sum of the fair values of the warrants and debt. This resulted in the debt being issued at a discount. The Company incurred $ 360 of debt issuance costs and was required to pay an exit fee of $ 300 upon full repayment of the debt resulting in additional debt discount. Following the Amended Credit Facility and the warrant issuance, the total debt discount was $ 3,453 . On July 17, 2018, the Company amended the Amended Credit Facility (the “Second Amendment”) to extend the period the Company was required to pay only the interest on the loan from May 31, 2018 to December 31, 2018 and to extend the expiration date of certain warrants to purchase 363,771 common shares issued to Perceptive with an original expiration date of July 25, 2019 to December 6, 2021 . The Company accounted for this as a debt modification, and as a result of the extension of the warrant expiration date in connection with the Second Amendment, the debt discount was increased by $ 386 . This amount represents the incremental fair value of the modified warrants. On January 31, 2019, the Company further amended the Amended Credit Facility (the “Third Amendment”) to i) extend the period the Company was required to pay only the interest on the loan from December 31, 2018 to January 31, 2020, ii) extend the maturity of the term loan to June 30, 2020 , and iii) reduce the exercise price on certain warrants to purchase common shares issued to Perceptive to $ 2.75 from $ 4.13 for 363,771 warrants issued on July 25, 2014, and for 363,771 warrants issued on December 6, 2016, and from $ 3.355 for 1,341,282 warrants issued on December 6, 2016. The Company has accounted for this as a debt modification, and as a result of the amendment to the exercise price in connection with the Third Amendment, the debt discount was increased by $ 179 . This amount represents the incremental fair value of the modified warrants. The total debt discount related to the Loan Agreement of $ 6,169 is being charged to interest expense using the effective interest method over the term of the debt. At September 30, 2020 and December 31, 2019, the fair value of our outstanding debt, which is considered level 3 in the fair value hierarchy, is estimated to be approximately $ 17,644 15,272 , respectively. Interest expense, net of interest income recorded in the three and nine months ended September 30, 2020 and 2019 was as follows: SCHEDULE OF INTEREST EXPENSE 2020 2019 2020 2019 Three months ended Nine months ended 2020 2019 2020 2019 Interest expense $ 422 $ 509 $ 1,330 $ 1,539 Amortization of debt discount 468 245 1,102 753 Interest income (148 ) (128 ) (426 ) (620 ) Total interest expense, net of interest income $ 742 $ 626 $ 2,006 $ 1,672 Interest expense and amortization of debt discount for the three months ended September 30, 2020 does not include any amounts incurred to a related party. Interest expense and amortization of debt discount for the nine months ended September 30, 2020 includes $ 723 461 Interest expense and amortization of debt discount for the three and nine months ended September 2019 was fully incurred to a related party. The following table summarizes the future principal payments due under long-term debt: SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT Principal Remaining 2020 $ - 2021 - 2022 4,683 2023 9,978 2024 6,729 Total $ 21,390

STOCKHOLDERS_ EQUITY AND ADDITI

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL	9. STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL Stock option plans The Company’s stock option plans are approved by and administered by the Company’s Board and its Compensation Committee. The Board designates, in connection with recommendations from the Compensation Committee, eligible participants to be included under the plan, and designates the number of options, exercise price, and vesting period of the new options. 2006 VBI US Stock Option Plan No further options will be issued under the 2006 VBI US Stock Option Plan (the “2006 Plan”). As of September 30, 2020, there were 993,666 2013 Equity Incentive Plan No further options will be issued under the 2013 Equity Incentive Plan (the “2013 Plan”). As of September 30, 2020, there were no 2014 Equity Incentive Plan No further options will be issued under the 2014 Equity Incentive Plan (the “2014 Plan”). As of September 30, 2020, there were 521,242 2016 VBI Incentive Plan The 2016 VBI Equity Incentive Plan (the “2016 Plan”) is a rolling incentive plan that sets the number of common shares issuable under the 2016 Plan, together with any other security-based compensation arrangement of the Company, at a maximum of 10 10 10,896,937 168,452 The aggregate number of common shares remaining available for issuance for awards under the 2016 Plan total 10,321,347 Activity related to stock options is as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Weighted Balance outstanding at December 31, 2019 6,471,708 $ 2.79 Granted 5,960,900 $ 1.93 Exercised (750 ) 1.64 Forfeited (20,013 ) $ 1.94 Balance outstanding at September 30, 2020 12,411,845 $ 2.38 Exercisable at September 30, 2020 5,567,736 $ 2.86 Information relating to RSUs is as follow: SCHEDULE OF RESTRICTED STOCK UNITS Number of Weighted Unvested shares outstanding at December 31, 2019 157,997 $ 2.77 Granted 125,000 $ 1.46 Vested (107,044 ) 2.83 Forfeited (7,501 ) $ 1.53 Unvested shares outstanding at September 30, 2020 168,452 $ 1.81 In determining the amount of stock-based compensation the Company used the Black-Scholes option pricing model to establish the fair value of options granted by applying the following weighted average assumptions: SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS 2020 2019 Volatility 91.47 % 118.62 % Risk free interest rate 1.20 % 2.46 % Expected term in years 5.81 5.78 Expected dividend yield 0.00 % 0.00 % Weighted average fair value per option $ 1.41 $ 1.45 The fair value of the options is recognized as an expense on a straight-line basis over the vesting period and forfeitures are accounted for when they occur. The total stock-based compensation expense recorded in the three and nine months ended September 30, 2020 and 2019 was as follows: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Research and development $ 309 $ 184 $ 770 $ 629 General and administrative 1,170 675 2,947 2,439 Cost of revenues 14 17 37 52 Total stock-based compensation expense $ 1,493 $ 876 $ 3,754 $ 3,120 Warrants In April 2020, the Company engaged National to provide financial advisory services in connection with the offering. As consideration for such services, the Company issued to National or its designees warrants to purchase up to an aggregate of 705,000 1.50 On May 22, 2020, in connection with the Loan Agreement, as described in Note 8, the Company issued a warrant, the K2 Warrant, to purchase up to an aggregate of 625,000 common shares, subject to terms and conditions set forth in the form of warrant agreement. The K2 Warrant expires on May 22, 2030 and has an exercise price of $ 1.12 per share. On July 21, 2020, the Company issued 550,000 3.34 1,837 The value attributed to the National Warrants and the K2 Warrant were based on the Black-Scholes option pricing model by applying the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS National K2 Warrant Volatility 103.13 % 95.00 % Risk free interest rate 0.26 % 0.66 % Expected term in years 3 10 Expected dividend yield 0.00 % 0.00 % Fair value per warrant $ 0.64 $ 2.25 Activity related to the warrants is as follows: SCHEDULE OF WARRANT ACTIVITY Number of Weighted Balance outstanding at December 31, 2019 2,618,824 $ 2.87 Issued 1,330,000 1.32 Exercised (550,000 ) $ 3.34 Balance outstanding at September 30, 2020 3,398,824 $ 2.19

REVENUES AND DEFERRED REVENUE

REVENUES AND DEFERRED REVENUE	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUES AND DEFERRED REVENUE	10. REVENUES AND DEFERRED REVENUE Revenue is comprised of the following: SCHEDULE OF REVENUE COMPRISED Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Product revenues $ 15 $ 168 $ 213 $ 365 R&D service revenues 283 479 684 1,282 Total revenue $ 298 $ 647 $ 897 $ 1,647 The following table presents revenues expected to be recognized in the future related to performance obligations, based on current estimates, that are unsatisfied at September 30, 2020: SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS Total Current portion to September 30, Remaining portion thereafter Product revenues $ 469 $ - $ 469 R&D service revenues 2,592 408 2,184 Total $ 3,061 $ 408 $ 2,653 The following table presents changes in the deferred revenue balance for the nine months ended September 30, 2020: SUMMARY OF CHANGES IN DEFERRED REVENUE Balance at December 31, 2019 $ 3,791 Amounts invoiced and revenue deferred 11 Recognition of deferred revenue (657 ) Currency translation (84 ) Balance at September 30, 2020 $ 3,061 Short Term $ 408 Long Term $ 2,653 Collaboration and License Agreement – Brii Bio On December 4, 2018, we entered into a Collaboration and License Agreement with Brii Bio (the “Collaboration and License Agreement”), whereby: ● The Company and Brii Bio agreed to collaborate on the development of a hepatitis B recombinant protein-based immunotherapeutic in the licensed territory, which consists of China, Hong Kong, Taiwan, and Macau (collectively, the “Licensed Territory”), and to conduct a Phase Ib/IIa collaboration clinical trial for the purpose of comparing VBI-2601 (BRII-179), which is a recombinant protein-based immunotherapeutic developed by VBI for use in treating chronic hepatitis B, with a novel composition developed jointly with Brii Bio (either being the “Licensed Product”); and, ● The Company granted Brii Bio an exclusive royalty-bearing license to perform studies, regulatory and other activities, as may be required to obtain and maintain marketing approval of the Licensed Product in the Licensed Territory and to commercialize the Licensed Product for the diagnosis and treatment of hepatitis B in the Licensed Territory. Pursuant to the Collaboration and License Agreement, the Company is responsible for the R&D services and Brii Bio is responsible for costs relating to the clinical trials for the Licensed Territory. The initial consideration of the Collaboration and License Agreement consisted of a $ 11 2,295,082 3.6 7.4 4.8 2.6 In addition, the Company is also eligible to receive an additional $ 117.5 million in potential regulatory and sales milestone payments, along with royalties on commercial sales in the Licensed Territory. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. Therefore, no variable consideration was included in the initial transaction price and no such amounts have been recognized to date. On December 4, 2018, the Company recognized the VBI-2601 (BRII-179) license when it was granted as it was determined to be distinct and Brii Bio was able to use and benefit from the license. The R&D Services will be satisfied over time as services are rendered using the “cost-to-cost” input method as this method represents the most accurate depiction of the transfer of services based on the types of costs expected to be incurred. As of September 30, 2020, R&D services related to Brii Bio that remain unsatisfied are $ 2.4 million, out of the $ 3.1 million total deferred revenue. Upon termination of the Collaboration and License Agreement prior to the end of the term, there is no obligation for refund and any amounts in deferred revenue related to unsatisfied performance obligations will be immediately recognized.

COLLABORATON ARRANGEMENTS

COLLABORATON ARRANGEMENTS	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COLLABORATON ARRANGEMENTS	11. COLLABORATON ARRANGEMENTS GlaxoSmithKline Biologicals S.A. (“GSK”) On September 10, 2019, we entered into a Clinical Collaboration and Supported Study Agreement (“Collaboration Agreement”) pursuant to which we will investigate the use of GSK’s proprietary AS01 B B This relationship is considered a collaborative relationship and not a customer relationship and is therefore accounted for outside the scope of ASC Topic 606. Costs associated with the second study arm will be expensed as incurred in Research and Development expenses; costs for the three and nine months ended September 30, 2020 are $ 149 485 National Research Council of Canada (“NRC”) On March 31, 2020, we announced a collaboration with the NRC, Canada’s largest federal research and development organization, to develop a pan-coronavirus vaccine candidate, targeting COVID-19, SARS, and MERS. The NRC and the Company are collaborating to evaluate and select promising coronavirus vaccine candidates. The collaboration combines the Company’s viral vaccine expertise, eVLP technology platform, and modified coronavirus antigens with the NRC’s proprietary SARS-CoV-2 antigens and assay development capabilities to select the most immunogenic vaccine candidate for further development. This relationship is considered a collaborative relationship and not a customer relationship and is therefore accounted for outside the scope of ASC Topic 606. Costs associated with the collaboration will be expensed as incurred in Research and Development expenses; costs for the three and nine months ended September 30, 2020 are $ 131 395 Brii Biosciences Limited On December 4, 2018, we entered into the Collaboration and License Agreement with Brii Bio, as described in Note 10.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	12. INCOME TAXES The Company operates in U.S., Israel, and Canadian tax jurisdictions. Its income is subject to varying rates of tax, and losses incurred in one jurisdiction cannot be used to offset income taxes payable in another. The Company determines its annual effective tax rate at the end of each interim period based on the year to date period results. Since the Company is incorporated in Canada, it is required to use Canada’s statutory tax rate of 26.50% The Company’s effective tax rate on loss before tax for the three and nine months ended September 30, 2020 of 0.0 % ( 0.0 % for the three and nine months ended September 30, 2019) differs from the Canadian statutory rate of 26.50% primarily due to recording a valuation allowance on the Canadian deferred tax assets in excess of the remaining Canadian deferred tax liability and the effect of recording a valuation allowance against deferred tax assets in all other jurisdictions. The Company maintains a valuation allowance on all of its deferred tax assets. A valuation allowance is required when, based upon an assessment of various factors, including recent operating loss history, anticipated future earnings, and prudent and reasonable tax planning strategies, it is more likely than not that some portion of the deferred tax assets will not be realized.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Legal Proceedings From time to time, the Company may be involved in certain claims and litigation arising out of the ordinary course and conduct of business. Management assesses such claims and, if it considers that it is probable that an asset had been impaired or a liability had been incurred and the amount of loss can be reasonably estimated, provisions for loss are made based on management’s assessment of the most likely outcome. On September 13, 2018, two actions were brought in the District Court of the central district in Israel naming our subsidiary SciVac as a defendant. In one claim, two minors, through their parents, allege among other things, defects in certain batches of Sci-B-Vac discovered in July 2015; that Sci-B-Vac was approved for use in children and infants in Israel without sufficient evidence establishing its safety; that SciVac failed to provide accurate information about Sci-B-Vac to consumers and that each child suffered side effects from the vaccine. The claim was filed together with a motion seeking approval of a class action on behalf of 428,000 1,879,500,000 546,207 SciVac believes these matters to be without merit and intends to defend these claims vigorously. The District Court has accepted SciVac’s motion to suspend reaching a decision on the approval of the class action pending the determination of liability under the civil action. Preliminary hearings for the trial of the civil action began on January 15, 2020, with a second preliminary hearing held on May 13, 2020 to discuss document disclosure. The next preliminary hearing is scheduled to be held on December 3, 2020. Operating leases The Company has entered into various non-cancelable lease agreements for its office, lab, and manufacturing facilities, which are classified as operating leases. The office facility lease agreement in the United States expires on April 30, 2023 Our manufacturing facility lease agreement expires on January 31, 2022 The lease agreement for our research facility in Canada, which comprises office and laboratory space, had an initial term ending on December 31, 2019 the term of the lease was extended until December 31, 2022 Effective April 30, 2020, the Company entered into the seventh amendment to the lease agreement for the office facilities in Cambridge, Massachusetts, which extends the lease for a term of three years April 30, 2023 25 3 769 Options to extend are not recognized as part of the lease liabilities or recognized as right to use assets. There are no residual value guarantees, no variable lease payments, and no restrictions or covenants imposed by leases. The discount rate used in measuring the lease liabilities and right of use assets was determined by reviewing our incremental borrowing rate at the initial measurement date. SCHEDULE OF LEASE COST AND OTHER INFORMATION Lease cost: Operating lease costs: Three months ended September 30, 2020 $ 316 Nine months ended September 30, 2020 897 Other information: Weighted average remaining lease term 1.94 Weighted average discount rate 12% Operating lease costs are included in general and administrative (“G&A”) expenses in the statement of operation and comprehensive loss. The following table summarizes future undiscounted cash payments reconciled to the lease liabilities: SUMMARY OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES Year ending December 31 Remaining 2020 $ 248 2021 1,001 2022 472 2023 104 Total $ 1,825 Effect of discounting (179 ) Total lease liability $ 1,646 Less: current portion (to September 30, 2021) (848 ) Long term lease liability $ 798

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	14. SEGMENT INFORMATION The Company’s Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker. The CEO evaluates the performance of the Company and allocates resources based on the information provided by the Company’s internal management system at a consolidated level. The Company has determined that it has only one operating segment. Revenues from external customers are attributed to geographic areas based on location of the contracting customers: SCHEDULE OF REVENUES FROM EXTERNAL CUSTOMERS Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Israel $ 48 $ 134 $ 198 $ 287 China / Hong Kong 250 467 646 1,245 Europe 0 46 53 115 Total $ 298 $ 647 $ 897 $ 1,647 There was no

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Effective as of September 4, 2020, the Company entered into a further lease agreement for additional office space at its research facility in Canada, the term of which will commence on October 1, 2020 until April 30, 2023. The Company will recognize a right of use asset and lease liability of approximately $ 66 On October 21, 2020, the Company incorporated VBI Vaccines B.V. in the Netherlands. On October 22, 2020, the Company issued 100,000 Twenty-five percent 75 October 22, 2030 During October 2020, the Company issued 13,246 1.50 20

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The Company’s fiscal year ends on December 31 of each calendar year. The accompanying unaudited condensed consolidated financial statements have been prepared in U.S. dollars (“USD”) and pursuant to the rules and regulations of the SEC, for interim reporting. Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with United States of America generally accepted accounting principles (“U.S. GAAP”), have been condensed or omitted pursuant to such rules and regulations. The December 31, 2019 consolidated balance sheet in this document was derived from the audited consolidated financial statements. The condensed consolidated financial statements and notes included in this quarterly report on Form 10-Q (this “Form 10-Q”) does not include all of the disclosures required by U.S. GAAP and should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 10-K”), as filed with the SEC on March 5, 2020. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: VBI DE, VBI US, VBI Cda, SciVac, and SciVac HK. Intercompany balances and transactions between the Company and its subsidiaries are eliminated in the condensed consolidated financial statements. In the opinion of management, these condensed consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the periods presented. The results for the periods presented are not necessarily indicative of results to be expected for the full year or for any future periods.
Significant Accounting Policies	Significant Accounting Policies The significant accounting policies used in the preparation of these condensed consolidated financial statements are disclosed in the 2019 10-K, and there have been no changes to the Company’s significant accounting policies during the nine months ended September 30, 2020, other than the polices discussed below.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash investments in interest-bearing accounts and term deposits which can readily be redeemed for cash or are issued for terms of three months or less from the date of acquisition.
Short-term investments	Short-term investments Short-term investments consist of redeemable short-term investments held with Schedule 1 Canadian banks for maturity terms greater than 3 months but less than a year from the date of acquisition. Short-term investments were initially classified as available for sale and were measured at fair value whereby unrealized holding gains or losses on these investments are reported in other comprehensive income or loss and accrued interest income was recognized in interest expense, net of interest income in the condensed consolidated statement of operations and comprehensive loss. On September 30, 2020 we re-assessed the classification of our short-term investment and we determined that the short-term investment shall be classified as held to maturity. The transfer on September 30, 2020 occurred at fair value with the unrealized holding gains remaining in other comprehensive income or loss. The unrealized holding gains will be amortized over the remaining life of the security until April 2021. Our short-term investments are considered level 2 in the fair value hierarchy. The fair value of the short-term investment was determined using the market approach method and the inputs include comparable market interest rates at September 30, 2020.
Government Grants	Government Grants Government grants are recognized in the statement of operations and comprehensive loss in the same period as the relevant expenses, in compliance with the agreement, as a reduction in the related expense or reduce the carrying value of the asset being acquired.

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	Inventory is stated at the lower of cost or market and consists of the following: SCHEDULE OF INVENTORY September 30, December 31, Finished goods $ - $ 58 Work-in-process 374 237 Raw materials 1,168 780 Inventory, net $ 1,542 $ 1,075

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CUMULATIVE CURRENCY TRANSLATION	SCHEDULE OF INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CUMULATIVE CURRENCY TRANSLATION September 30, 2020 Gross Carrying Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (569 ) $ - $ 31 $ 131 IPR&D assets 61,500 - (300 ) (2,163 ) 59,037 $ 62,169 $ (569 ) $ (300 ) $ (2,132 ) $ 59,168 December 31, 2019 Gross Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (521 ) $ - $ 30 $ 178 IPR&D assets 61,500 - (300 ) (622 ) 60,578 $ 62,169 $ (521 ) $ (300 ) $ (592 ) $ 60,756
SCHEDULE OF GOODWILL	SCHEDULE OF GOODWILL September 30, 2020 Gross Carrying Amount Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (270 ) $ 2,152 December 31, 2019 Gross Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (214 ) $ 2,208

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
SCHEDULE OF OTHER CURRENT LIABILITIES	Other current liabilities consisted of the following: SCHEDULE OF OTHER CURRENT LIABILITIES September 30, December 31, Accrued research and development expenses (including clinical trial accrued expenses) $ 6,377 $ 9,247 Accrued professional fees 958 446 Payroll and employee-related costs 1,632 2,184 Other current liabilities 371 384 Total Other current liabilities $ 9,338 $ 12,261

LOSS PER SHARE OF COMMON SHAR_2

LOSS PER SHARE OF COMMON SHARES (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING	The following potentially dilutive securities outstanding at September 30, 2020 and 2019 have been excluded from the computation of diluted weighted average shares outstanding, as they would be antidilutive: SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING September 30, September 30, Warrants 3,398,824 2,618,824 Stock options and equity awards 12,580,297 6,814,104 K2 conversion feature 2,739,726 - 18,718,847 9,432,928

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Long-term Debt
SCHEDULE OF LONG-TERM DEBT	As of September 30, 2020, and December 31, 2019, the long-term debt is as follows: SCHEDULE OF LONG-TERM DEBT September 30, December 31, Long-term debt, net of debt discount $ 15,862 $ 14,845 * Less: current portion, net of debt discount - 14,845 * Long-term debt $ 15,862 $ - * * 2019 long term debt was due to Perceptive Credit Holdings LP, a related party.
SCHEDULE OF INTEREST EXPENSE	Interest expense, net of interest income recorded in the three and nine months ended September 30, 2020 and 2019 was as follows: SCHEDULE OF INTEREST EXPENSE 2020 2019 2020 2019 Three months ended Nine months ended 2020 2019 2020 2019 Interest expense $ 422 $ 509 $ 1,330 $ 1,539 Amortization of debt discount 468 245 1,102 753 Interest income (148 ) (128 ) (426 ) (620 ) Total interest expense, net of interest income $ 742 $ 626 $ 2,006 $ 1,672
SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT	The following table summarizes the future principal payments due under long-term debt: SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT Principal Remaining 2020 $ - 2021 - 2022 4,683 2023 9,978 2024 6,729 Total $ 21,390

STOCKHOLDERS_ EQUITY AND ADDI_2

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
SCHEDULE OF STOCK OPTIONS ACTIVITY	Activity related to stock options is as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Weighted Balance outstanding at December 31, 2019 6,471,708 $ 2.79 Granted 5,960,900 $ 1.93 Exercised (750 ) 1.64 Forfeited (20,013 ) $ 1.94 Balance outstanding at September 30, 2020 12,411,845 $ 2.38 Exercisable at September 30, 2020 5,567,736 $ 2.86
SCHEDULE OF RESTRICTED STOCK UNITS	Information relating to RSUs is as follow: SCHEDULE OF RESTRICTED STOCK UNITS Number of Weighted Unvested shares outstanding at December 31, 2019 157,997 $ 2.77 Granted 125,000 $ 1.46 Vested (107,044 ) 2.83 Forfeited (7,501 ) $ 1.53 Unvested shares outstanding at September 30, 2020 168,452 $ 1.81
SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS	In determining the amount of stock-based compensation the Company used the Black-Scholes option pricing model to establish the fair value of options granted by applying the following weighted average assumptions: SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS 2020 2019 Volatility 91.47 % 118.62 % Risk free interest rate 1.20 % 2.46 % Expected term in years 5.81 5.78 Expected dividend yield 0.00 % 0.00 % Weighted average fair value per option $ 1.41 $ 1.45
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE	The fair value of the options is recognized as an expense on a straight-line basis over the vesting period and forfeitures are accounted for when they occur. The total stock-based compensation expense recorded in the three and nine months ended September 30, 2020 and 2019 was as follows: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Research and development $ 309 $ 184 $ 770 $ 629 General and administrative 1,170 675 2,947 2,439 Cost of revenues 14 17 37 52 Total stock-based compensation expense $ 1,493 $ 876 $ 3,754 $ 3,120
SCHEDULE OF FAIR VALUE OF WARRANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS	The value attributed to the National Warrants and the K2 Warrant were based on the Black-Scholes option pricing model by applying the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS National K2 Warrant Volatility 103.13 % 95.00 % Risk free interest rate 0.26 % 0.66 % Expected term in years 3 10 Expected dividend yield 0.00 % 0.00 % Fair value per warrant $ 0.64 $ 2.25
SCHEDULE OF WARRANT ACTIVITY	Activity related to the warrants is as follows: SCHEDULE OF WARRANT ACTIVITY Number of Weighted Balance outstanding at December 31, 2019 2,618,824 $ 2.87 Issued 1,330,000 1.32 Exercised (550,000 ) $ 3.34 Balance outstanding at September 30, 2020 3,398,824 $ 2.19

REVENUES AND DEFERRED REVENUE (

REVENUES AND DEFERRED REVENUE (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
SCHEDULE OF REVENUE COMPRISED	Revenue is comprised of the following: SCHEDULE OF REVENUE COMPRISED Three months ended September 30 Nine months ended September 30 2020 2019 2020 2019 Product revenues $ 15 $ 168 $ 213 $ 365 R&D service revenues 283 479 684 1,282 Total revenue $ 298 $ 647 $ 897 $ 1,647
SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS	The following table presents revenues expected to be recognized in the future related to performance obligations, based on current estimates, that are unsatisfied at September 30, 2020: SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS Total Current portion to September 30, Remaining portion thereafter Product revenues $ 469 $ - $ 469 R&D service revenues 2,592 408 2,184 Total $ 3,061 $ 408 $ 2,653
SUMMARY OF CHANGES IN DEFERRED REVENUE	The following table presents changes in the deferred revenue balance for the nine months ended September 30, 2020: SUMMARY OF CHANGES IN DEFERRED REVENUE Balance at December 31, 2019 $ 3,791 Amounts invoiced and revenue deferred 11 Recognition of deferred revenue (657 ) Currency translation (84 ) Balance at September 30, 2020 $ 3,061 Short Term $ 408 Long Term $ 2,653

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF LEASE COST AND OTHER INFORMATION	Options to extend are not recognized as part of the lease liabilities or recognized as right to use assets. There are no residual value guarantees, no variable lease payments, and no restrictions or covenants imposed by leases. The discount rate used in measuring the lease liabilities and right of use assets was determined by reviewing our incremental borrowing rate at the initial measurement date. SCHEDULE OF LEASE COST AND OTHER INFORMATION Lease cost: Operating lease costs: Three months ended September 30, 2020 $ 316 Nine months ended September 30, 2020 897 Other information: Weighted average remaining lease term 1.94 Weighted average discount rate 12%
SUMMARY OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES	The following table summarizes future undiscounted cash payments reconciled to the lease liabilities: SUMMARY OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES Year ending December 31 Remaining 2020 $ 248 2021 1,001 2022 472 2023 104 Total $ 1,825 Effect of discounting (179 ) Total lease liability $ 1,646 Less: current portion (to September 30, 2021) (848 ) Long term lease liability $ 798

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SCHEDULE OF REVENUES FROM EXTERNAL CUSTOMERS	Revenues from external customers are attributed to geographic areas based on location of the contracting customers: SCHEDULE OF REVENUES FROM EXTERNAL CUSTOMERS Three Months Ended September 30 Nine Months Ended September 30 2020 2019 2020 2019 Israel $ 48 $ 134 $ 198 $ 287 China / Hong Kong 250 467 646 1,245 Europe 0 46 53 115 Total $ 298 $ 647 $ 897 $ 1,647

NATURE OF BUSINESS AND CONTIN_2

NATURE OF BUSINESS AND CONTINUATION OF BUSINESS (Details Narrative) $ / shares in Units, $ in Thousands, $ in Thousands

Sep. 16, 2020USD ($)

Sep. 16, 2020CAD ($)

Jul. 31, 2020USD ($)

Jul. 21, 2020USD ($)$ / sharesshares

Jul. 03, 2020CAD ($)

May 31, 2020USD ($)

Apr. 30, 2020USD ($)$ / sharesshares

Sep. 30, 2020USD ($)$ / sharesshares

Sep. 30, 2020USD ($)

Sep. 30, 2020CAD ($)

Sep. 30, 2019USD ($)

Oct. 31, 2020$ / shares

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

[custom:RetainedEarningAccumulatedDeficit-0]

$ 293,256

$ 293,256

Net Cash Provided by (Used in) Operating Activities

30,555

$ 40,182

Common shares issued in public offering | shares

52,272,726

Share issuance costs related to offering

4,919

2,756

Warrant exercise price | $ / shares

$ 20,000

Proceeds from Issuance of Common Stock

$ 106,269

$ 40,250

Warrant [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Warrant to purchase common stock | shares

550,000

Warrant exercise price | $ / shares

$ 3.34

Proceeds from warrants

$ 1,837

Loan and Guaranty Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Debt Instrument, Maturity Date

Jun. 1, 2024

Jun. 1, 2024

Open Market Sale Agreement [Member] | Jefferies LLC [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Open market sale agreement sales cost

$ 125,000

ATM Program [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Share issuance costs related to offering

1,606

Proceeds from stock issuance cost

$ 47,163

Stock Issued During Period, Shares, New Issues | shares

10,840,334

Proceeds from Issuance of Common Stock

$ 48,769

Average price per share | $ / shares

$ 4.4988

Available share value

$ 76,231

$ 76,231

Industrial Research Assistance Program [Member] | CAD [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

[custom:ResearchAndDevelopmentExpenses]

$ 1,000

Additional grants

$ 235

Contribution Agreement [Member] | CAD [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

[custom:ResearchAndDevelopmentExpenses]

$ 55,976

Additional grants

$ 731

Loan Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Excess of contribution amount

$ 500

National Securities Inc [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Warrant to purchase common stock | shares

705,000

Warrant exercise price | $ / shares

$ 1.50

K 2 Heathventures L L C [Member] | Loan and Guaranty Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Proceeds from Issuance of Long-term Debt

$ 4,500

Debt Instrument, Maturity Date

Jun. 1, 2024

Jun. 1, 2024

Public Offering [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Shares issued price per share | $ / shares

$ 1.10

Gross proceeds from public offering

$ 57,500

Share issuance costs related to offering

3,606

Proceeds from stock issuance cost

$ 53,894

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods		$ 58
Work-in-process	374	237
Raw materials	1,168	780
Inventory, net	$ 1,542	$ 1,075

SCHEDULE OF INTANGIBLE ASSETS I

SCHEDULE OF INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CUMULATIVE CURRENCY TRANSLATION (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross	$ 62,169	$ 62,169
Accumulated Amortization	(569)	(521)
Cumulative Impairment Charge	(300)	(300)
Cumulative Currency Translation	(2,132)	(592)
Intangible assets, Net	59,168	60,756
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross	669	669
Accumulated Amortization	(569)	(521)
Cumulative Impairment Charge
Cumulative Currency Translation	31	30
Intangible assets, Net	131	178
Inprocess Research And Development Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross	61,500	61,500
Accumulated Amortization
Cumulative Impairment Charge	(300)	(300)
Cumulative Currency Translation	(2,163)	(622)
Intangible assets, Net	$ 59,037	$ 60,578

SCHEDULE OF GOODWILL (Details)

SCHEDULE OF GOODWILL (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross Carrying Amount	$ 8,714	$ 8,714
Goodwill, Cumulative Impairment Charge	(6,292)	(6,292)
Goodwill, Cumulative Currency Translation	(270)	(214)
Goodwill, Net Book Value	$ 2,152	$ 2,208

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL (Details Narrative) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
In process research and development fair value assumptions, description	The discount rate used was 11% and the cumulative probability of technical and regulatory success to achieve approval to market the products ranged from approximately 6% to 17%
Goodwill [Member]
Finite-Lived Intangible Assets [Line Items]
Decrease in Foreign currency translation adjustment	$ 56
Inprocess Research And Development Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Decrease in Foreign currency translation adjustment	$ 1,541

SCHEDULE OF OTHER CURRENT LIABI

SCHEDULE OF OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued research and development expenses (including clinical trial accrued expenses)	$ 6,377	$ 9,247
Accrued professional fees	958	446
Payroll and employee-related costs	1,632	2,184
Other current liabilities	371	384
Total Other current liabilities	$ 9,338	$ 12,261

SCHEDULE OF ANTIDILUTIVE WEIGHT

SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING (Details) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	18,718,847	9,432,928
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	3,398,824	2,618,824
Stock Options and Equity Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	12,580,297	6,814,104
K2 Conversion Feature [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	2,739,726

SCHEDULE OF LONG-TERM DEBT (Det

SCHEDULE OF LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	[1]
Long-term Debt
Long-term debt, net of debt discount	$ 15,862	$ 14,845
Less: current portion, net of debt discount		14,845
Long-term debt	$ 15,862
[1]	2019 long term debt was due to Perceptive Credit Holdings LP, a related party.

SCHEDULE OF INTEREST EXPENSE (D

SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Long-term Debt
Interest expense	$ 422	$ 509	$ 1,330	$ 1,539
Amortization of debt discount	468	245	1,102	753
Interest income	(148)	(128)	(426)	(620)
Total interest expense, net of interest income	$ 742	$ 626	$ 2,006	$ 1,672

SCHEDULE OF FUTURE PRINCIPAL OF

SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT (Details) $ in Thousands	Sep. 30, 2020USD ($)
Long-term Debt
Remaining 2020
2021
2022	4,683
2023	9,978
2024	6,729
Total	$ 21,390

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jul. 21, 2020	May 22, 2020	Jan. 31, 2019	Jul. 17, 2018	Dec. 06, 2016	Sep. 30, 2020	Sep. 30, 2019	Oct. 31, 2020	Dec. 31, 2019	May 06, 2016	Jul. 25, 2014
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights								$ 20,000
Proceeds from Warrant Exercises						$ 1,837
[custom:EffectivePriceOfWarrants-0]		$ 1.52
Intrinsic value of beneficial conversion feature recorded to additional paid in capital		$ 2,577
Interest expense						723
Amortization of debt discount						461
Fair Value, Inputs, Level 3 [Member]
Entity Listings [Line Items]
Debt Instrument, Fair Value Disclosure						17,644			$ 15,272
Second Amended Credit Facility [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				363,771
Warrants to purchase common shares original issue date description				July 25, 2019 to December 6, 2021
Increase in debt discount				$ 386
Second Amended Credit Facility [Member] | Extended Maturity [Member]
Entity Listings [Line Items]
Debt Instrument, Maturity Date, Description				May 31, 2018 to December 31, 2018
Third Amended Credit Facility [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.75
Increase in debt discount			$ 179
Third Amended Credit Facility [Member] | Exercise Price Four Point One Three [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 4.13
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					363,771						363,771
Third Amended Credit Facility [Member] | Exercise Price Three Point Three Five Five [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 3.355
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					1,341,282
Third Amended Credit Facility [Member] | Extended Maturity [Member]
Entity Listings [Line Items]
Debt Instrument, Maturity Date, Description			Amended Credit Facility (the “Third Amendment”) to i) extend the period the Company was required to pay only the interest on the loan from December 31, 2018 to January 31, 2020, ii) extend the maturity of the term loan to June 30, 2020
Credit Holdings L P [Member]
Entity Listings [Line Items]
Repayments of Related Party Debt						14,500
Gain (Loss) on Extinguishment of Debt						84
Warrant [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3.34
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	550,000
Proceeds from Issuance of Warrants	$ 1,837
Perceptive Credit Holdings, LP [Member] | Amended Credit Facility [Member]
Entity Listings [Line Items]
Debt discount related to Loan Agreement					$ 3,453
Line of Credit Facility, Maximum Borrowing Capacity										$ 6,000
Proceeds from Lines of Credit					13,200
Line of Credit Facility, Remaining Borrowing Capacity					1,800
Debt Issuance Costs, Gross					360
Line of Credit Facility, Commitment Fee Amount					300
Perceptive Credit Holdings, LP [Member] | Warrant [Member] | Amended Credit Facility [Member]
Entity Listings [Line Items]
Proceeds from Issuance of Warrants					$ 2,793
Perceptive Credit Holdings, LP [Member] | Tranche One [Member] | Amended Credit Facility [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 4.13
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					363,771
Perceptive Credit Holdings, LP [Member] | Tranche Two [Member] | Amended Credit Facility [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 3.355
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					1,341,282
Loan and Guaranty Agreement [Member]
Entity Listings [Line Items]
Debt Instrument, Periodic Payment						1,390
Debt Instrument, Face Amount						$ 21,390
Debt annual interest rate						8.25%
Debt increased percentage						5.00%
Debt maturity date						Jun. 1, 2024
Loan and Guaranty Agreement [Member] | Prime Rate [Member]
Entity Listings [Line Items]
Debt annual interest rate						5.00%
Loan and Guaranty Agreement [Member] | K2 Warrant [Member]
Entity Listings [Line Items]
Warrant or Right, Reason for Issuance, Description						additional common shares will be issuable pursuant to the K2 Warrant as determined by the principal amount of the additional funds advanced multiplied by 3.5% and divided by the Warrant Price, and the final payment will increase by 6.95% of the funds advanced.
Loan and Guaranty Agreement [Member] | Third Tranche [Member]
Entity Listings [Line Items]
Secured Debt						$ 10,000
Debt annual interest rate						8.25%
Loan interest period extended date						Jan. 1, 2023
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member]
Entity Listings [Line Items]
Debt Instrument, Description		The Lenders agreed to make available the following additional tranches subject to the following conditions and upon the submission of a loan request by the Company: (1) up to $10 million available between January 1, 2021 and April 30, 2021 upon achievement of certain milestones (the “Second Tranche Term Loan”), (2) $10 million available between the closing date and December 31, 2021, subject to achievement of a certain U.S. Food and Drug Administration approval (the “Third Tranche Term Loan”), and (3) a final tranche of up to $
Debt Conversion, Converted Instrument, Amount		$ 4,000
Debt Instrument, Convertible, Conversion Price		$ 1.46
Debt Issuance Costs, Net		$ 1,021
Secured term loan final payment percentage		6.95%
Additional discount		$ 1,390
Debt discount related to Loan Agreement		$ 6,169
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member] | K2 Warrant [Member]
Entity Listings [Line Items]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		625,000
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1.12
Warrant or Right, Reason for Issuance, Description		The number of common shares issuable pursuant to the K2 Warrant, at any given time, is determined by the aggregate principal amount of the loans advanced at that time pursuant to the Loan Agreement multiplied by 3.5% and divided by the Warrant Price. If the full $50 million available in all K2 tranches is advanced pursuant to the Loan Agreement, up to 1,562,500 common shares will be issuable pursuant to the K2 Warrant.
Class of Warrant or Right, Date from which Warrants or Rights Exercisable		May 22, 2030
Proceeds from Warrant Exercises		$ 1,181
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member] | First Tranche [Member]
Entity Listings [Line Items]
Secured Debt		20,000
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member] | Final Tranche [Member]
Entity Listings [Line Items]
Secured Debt		$ 10,000

SCHEDULE OF STOCK OPTIONS ACTIV

SCHEDULE OF STOCK OPTIONS ACTIVITY (Details) - Equity Option [Member]	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Summary of Investment Holdings [Line Items]
Number of Stock Options Outstanding, Beginning Balance | shares	6,471,708
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 2.79
Number of Stock Options, Granted | shares	5,960,900
Weighted Average Exercise Price, Granted | $ / shares	$ 1.93
Number of Stock Options, Exercised | shares	(750)
Weighted Average Exercise Price, Exercised | $ / shares	$ 1.64
Number of Stock Options, Forfeited | shares	(20,013)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 1.94
Number of Stock Options Outstanding, Ending Balance | shares	12,411,845
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 2.38
Number of Stock Options, Exercisable | shares	5,567,736
Weighted Average Exercise Price, Exercisable | $ / shares	$ 2.86

SCHEDULE OF RESTRICTED STOCK UN

SCHEDULE OF RESTRICTED STOCK UNITS (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Weighted Average Fair Value at Grant Date, Granted	$ 1.41	$ 1.45
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of Stock Awards, Unvested shares outstanding beginning balance	157,997
Weighted Average Fair Value at Grant Date, Unvested shares outstanding beginning balance	$ 2.77
Number of Stock Awards, Granted	125,000
Weighted Average Fair Value at Grant Date, Granted	$ 1.46
Number of Stock Awards, Vested	(107,044)
Weighted Average Fair Value at Grant Date, Vested	$ 2.83
Number of Stock Awards, Forfeited	(7,501)
Weighted Average Fair Value at Grant Date, Forfeited	$ 1.53
Number of Stock Awards, Unvested shares outstanding ending balance	168,452
Weighted Average Fair Value at Grant Date, Unvested shares outstanding	$ 1.81

SCHEDULE OF FAIR VALUE OF OPTIO

SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Volatility	91.47%	118.62%
Risk free interest rate	1.20%	2.46%
Expected term in years	5.81	5.78
Expected dividend yield	0.00%	0.00%
Weighted average fair value per option	$ 1.41	$ 1.45

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total stock-based compensation expense	$ 1,493	$ 876	$ 3,754	$ 3,120
Research and Development [Member]
Total stock-based compensation expense	309	184	770	629
General and Administrative [Member]
Total stock-based compensation expense	1,170	675	2,947	2,439
Cost of Revenues [Member]
Total stock-based compensation expense	$ 14	$ 17	$ 37	$ 52

SCHEDULE OF FAIR VALUE OF WARRA

SCHEDULE OF FAIR VALUE OF WARRANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Volatility	91.47%	118.62%
Risk free interest rate	1.20%	2.46%
Expected dividend yield	0.00%	0.00%
National Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Volatility	103.13%
Risk free interest rate	0.26%
Expected term in years	3
Expected dividend yield	0.00%
Fair value per warrant	$ 0.64
K2 Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Volatility	95.00%
Risk free interest rate	0.66%
Expected term in years	10
Expected dividend yield	0.00%
Fair value per warrant	$ 2.25

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - Warrants [Member]	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Balance Outstanding Beginning | shares	2,618,824
Weighted Average Exercise Price, Balance Outstanding Beginning | $ / shares	$ 2.87
Number of Warrants, Issued | shares	1,330,000
Weighted Average Exercise Price, Issued | $ / shares	$ 1.32
Number of Warrants, Exercised | shares	(550,000)
Weighted Average Exercise Price, Exercised | $ / shares	$ 3.34
Number of Warrants, Balance Outstanding Ending | shares	3,398,824
Weighted Average Exercise Price, Balance Outstanding Ending | $ / shares	$ 2.19

STOCKHOLDERS_ EQUITY AND ADDI_3

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jul. 21, 2020	Apr. 30, 2020	Sep. 30, 2020	Oct. 31, 2020	May 22, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price				$ 20,000
Number of common shares issued, shares		52,272,726
Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of warrant or right, number of securities called by each warrant or right		705,000
Warrant exercise price		$ 1.50
K2 Warrant [Member] | Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of warrant or right, number of securities called by each warrant or right					625,000
Warrant exercise price					$ 1.12
Warrants and rights outstanding, maturity date					May 22, 2030
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price	$ 3.34
Proceeds from warrants	$ 1,837
Warrant [Member] | Common Shares Exercise of Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price	$ 3.34
Number of common shares issued, shares	550,000
Proceeds from warrants	$ 1,837
2006 Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			993,666
2013 Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			0
2014 Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			521,242
2016 Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			10,896,937
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum			10.00%
Maximum percentage of options granted			10.00%
Number of common shares available for issuance			10,321,347
2016 VBI Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number			168,452

SCHEDULE OF REVENUE COMPRISED (

SCHEDULE OF REVENUE COMPRISED (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 298	$ 647	$ 897	$ 1,647
Product [Member]
Disaggregation of Revenue [Line Items]
Revenues	15	168	213	365
Service [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 283	$ 479	$ 684	$ 1,282

SUMMARY OF REVENUE EXPECTED TO

SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS (Details) $ in Thousands	Sep. 30, 2020USD ($)
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	$ 3,061
Current Portion To September Thirty Two Thousand Twenty One [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	408
Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	2,653
Product [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	469
Product [Member] | Current Portion To September Thirty Two Thousand Twenty One [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations
Product [Member] | Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	469
Service [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	2,592
Service [Member] | Current Portion To September Thirty Two Thousand Twenty One [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	408
Service [Member] | Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenue remaining performance obligations	$ 2,184

SUMMARY OF CHANGES IN DEFERRED

SUMMARY OF CHANGES IN DEFERRED REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Balance at December 31, 2019	$ 3,791
Amounts invoiced and revenue deferred	11
Recognition of deferred revenue	(657)
Currency translation	(84)
Balance at September 30, 2020	3,061
Short Term	408	$ 882
Long Term	$ 2,653	$ 2,909

REVENUES AND DEFERRED REVENUE_2

REVENUES AND DEFERRED REVENUE (Details Narrative) - USD ($) $ in Thousands	Dec. 04, 2018	Sep. 30, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Remaining performance obligation, deemed to be initial transaction price		$ 3,061
Additional potential regulatory and sales milestone payments	$ 117,500
Contract with Customer, Liability		3,061	$ 3,791
License Agreement [Member] | Brii Bio [Member]
Disaggregation of Revenue [Line Items]
Non-refundable upfront payment	$ 11,000
Stock issued for the agreement, shares	2,295,082
Stock issued for the agreement	$ 3,600
Remaining performance obligation, deemed to be initial transaction price	7,400
License Agreement [Member] | Brii Bio [Member] | R&D Services [Member]
Disaggregation of Revenue [Line Items]
Remaining performance obligation, deemed to be initial transaction price	4,800
License Agreement [Member] | Brii Bio [Member] | VBI-2601 [Member]
Disaggregation of Revenue [Line Items]
Remaining performance obligation, deemed to be initial transaction price	$ 2,600
Collaboration and License Agreement [Member]
Disaggregation of Revenue [Line Items]
Unsatisfied amount of research and development services		2,400
Contract with Customer, Liability		$ 3,100

COLLABORATON ARRANGEMENTS (Deta

COLLABORATON ARRANGEMENTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses	$ 4,478	$ 5,401	$ 10,035	$ 21,989
Collaboration Agreement [Member] | Glaxo Smith Kline Biologicals S. A. [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses	149		485
Collaboration Agreement [Member] | National Research Council Of Canada [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expenses	$ 131		$ 395

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Statutory income tax rate	26.50%
Effective Income Tax Rate Reconciliation, Percent	0.00%	0.00%

SCHEDULE OF LEASE COST AND OTHE

SCHEDULE OF LEASE COST AND OTHER INFORMATION (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 316	$ 897
Operating Lease, Weighted Average Remaining Lease Term	1 year 11 months 8 days	1 year 11 months 8 days
Weighted average discount rate	12.00%	12.00%

SUMMARY OF FUTURE UNDISCOUNTED

SUMMARY OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Remaining 2020	$ 248
2021	1,001
2022	472
2023	104
Total	1,825
Effect of discounting	(179)
Total lease liability	1,646
Less: current portion	(848)	$ (642)
Long term lease liability	$ 798	$ 817

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Apr. 30, 2020USD ($)	Sep. 05, 2019	Sep. 13, 2018USD ($)Integer	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Product Liability Contingency [Line Items]
Lease expires date		Dec. 31, 2022
Operating lease option to extend		the term of the lease was extended until December 31, 2022, with an option to extend the lease for one additional period of three years.
Operating Lease, Expense	$ 25,000
Operating Lease, Right-of-Use Asset				$ 1,642,000	$ 1,459,000
Office Facility Lease Agreement [Member] | UNITED STATES
Product Liability Contingency [Line Items]
Lease expires date				Apr. 30, 2023
Office Facility Lease Agreement [Member] | Massachusetts [Member]
Product Liability Contingency [Line Items]
Lease expires date	Apr. 30, 2023
Operating lease option to extend	the Company entered into the seventh amendment to the lease agreement for the office facilities in Cambridge, Massachusetts, which extends the lease for a term of three years
Percentage of annual increase for base rent	3.00%
Operating Lease, Right-of-Use Asset	$ 769,000
Manufacturing Facility Lease Agreement [Member] | UNITED STATES
Product Liability Contingency [Line Items]
Lease expires date				Jan. 31, 2022
Operating lease option to extend				Our manufacturing facility lease agreement expires on January 31, 2022, which includes one five-year option to extend until January 31, 2027.
Lease Agreement [Member]
Product Liability Contingency [Line Items]
Lease expires date				Dec. 31, 2019
Operating lease option to extend				The lease agreement for our research facility in Canada, which comprises office and laboratory space, had an initial term ending on December 31, 2019 with the option to extend the term for two periods of three years.
Sci B Vac [Member]
Product Liability Contingency [Line Items]
Number of children vaccinated | Integer			428,000
Seeking damages			$ 546,207,000
Sci B Vac [Member] | NIS Currency [Member]
Product Liability Contingency [Line Items]
Seeking damages			$ 1,879,500,000

SCHEDULE OF REVENUES FROM EXTER

SCHEDULE OF REVENUES FROM EXTERNAL CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 298	$ 647	$ 897	$ 1,647
ISRAEL
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	48	134	198	287
China / Hong Kong [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	250	467	646	1,245
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 0	$ 46	$ 53	$ 115

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 298	$ 647	$ 897	$ 1,647
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Oct. 22, 2020	Oct. 01, 2020	Sep. 04, 2020	Oct. 31, 2020
Subsequent Event [Line Items]
Gross proceeds				$ 20,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Right of use asset and lease liability		$ 66
Percentage of options vest and exercisable, description	Twenty-five percent
Percent of options vesting and exercisable	75.00%
Options granted expiration date	Oct. 22, 2030
Number of shares issued				13,246
Warrant, Exercise Price, Increase				$ 1.50
Subsequent Event [Member] | Two Thousand Sixteen Plan [Member]
Subsequent Event [Line Items]
Shares Held in Employee Stock Option Plan, Allocated	100,000
Lease Agreement [Member]
Subsequent Event [Line Items]
Lease agreement, description			the Company entered into a further lease agreement for additional office space at its research facility in Canada, the term of which will commence on October 1, 2020 until April 30, 2023. The Company will recognize a right of use asset and lease liability of approximately $