VBI Vaccines (VBIVQ) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 05, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
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	160 Second Street
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	Non-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		257,304,768

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 137,470	$ 93,825
Short-term investments		25,276
Accounts receivable, net	36	77
Inventory, net	2,265	2,152
Prepaid expenses	3,051	1,569
Other current assets	4,981	9,142
Total current assets	147,803	132,041
NON-CURRENT ASSETS
Other long-term assets	1,094	639
Property and equipment, net	10,381	10,721
Right of use assets	537	1,554
Intangible assets, net	62,150	62,156
Goodwill	2,263	2,261
Total non-current assets	76,425	77,331
TOTAL ASSETS	224,228	209,372
CURRENT LIABILITIES
Accounts payable	3,745	3,734
Other current liabilities	28,472	12,415
Current portion of deferred revenues	324	255
Current portion of lease liability	408	944
Total current liabilities	32,949	17,348
NON-CURRENT LIABILITIES
Lease liability, net of current portion	107	619
Long-term debt, net of debt discount	27,939	16,329
Liabilities for severance pay	549	522
Deferred revenues, net of current portion	2,540	2,849
Total non-current liabilities	31,135	20,319
COMMITMENTS AND CONTINGENCIES (NOTE 14)
STOCKHOLDERS’ EQUITY
Common shares (unlimited authorized; no par value) (September 30, 2021 - issued and outstanding 257,304,768; December 31, 2020 - issued and outstanding 247,039,010)	439,286	403,528
Additional paid-in capital	79,075	75,530
Accumulated other comprehensive income	1,371	1,265
Accumulated deficit	(359,588)	(308,618)
Total stockholders’ equity	160,144	171,705
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 224,228	$ 209,372

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares $ / shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common Stock, shares authorized	Unlimited	Unlimited
Common stock, no par value	$ 0	$ 0
Common stock, shares issued	257,304,768	247,039,010
Common stock, shares outstanding	257,304,768	247,039,010

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues	$ 107	$ 298	$ 550	$ 897
Operating expenses:
Cost of revenues	2,466	2,111	7,511	6,747
Research and development	2,972	4,478	14,392	10,035
General and administrative	9,693	5,562	25,807	13,520
Total operating expenses	15,131	12,151	47,710	30,302
Loss from operations	(15,024)	(11,853)	(47,160)	(29,405)
Interest expense, net of interest income (including related party - see Note 9)	(1,026)	(742)	(3,683)	(2,006)
Foreign exchange gain (loss)	203	(402)	(127)	543
Loss before income taxes	(15,847)	(12,997)	(50,970)	(30,868)
Income tax expense
NET LOSS	(15,847)	(12,997)	(50,970)	(30,868)
Other comprehensive income (loss)	(1,607)	1,696	106	(1,988)
COMPREHENSIVE LOSS	$ (17,454)	$ (11,301)	$ (50,864)	$ (32,856)
Net loss per share of common shares, basic and diluted	$ (0.06)	$ (0.06)	$ (0.20)	$ (0.15)
Weighted-average number of common shares outstanding, basic and diluted	256,360,356	234,709,403	254,055,707	210,044,126

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, 2019	$ 284,965	$ 66,430	$ (752)	$ (262,388)	$ 88,255
Beginning balance, shares at Dec. 31, 2019	178,257,199
Stock-based compensation	$ 131	1,056			1,187
Stock-based compensation, shares	118,471
Net loss				(8,358)	(8,358)
Currency translation adjustments			(6,653)		(6,653)
Ending balance, value at Mar. 31, 2020	$ 285,096	67,486	(7,405)	(270,746)	74,431
Ending 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
Beginning balance, shares at Dec. 31, 2019	178,257,199
Common shares issued upon of conversion of long-term debt
Net loss					(30,868)
Ending balance, value at Sep. 30, 2020	$ 387,718	74,084	(2,740)	(293,256)	165,806
Ending 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
Beginning balance, shares at Mar. 31, 2020	178,375,670
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
Conversion feature issued in debt financing transaction		2,577			2,577
Stock-based compensation	$ 91	983			1,074
Stock-based compensation, shares
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
Ending balance, shares at Jun. 30, 2020	230,648,396
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
Stock-based compensation	$ 89	1,404			1,493
Stock-based compensation, shares
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
Ending balance, shares at Sep. 30, 2020	242,039,480
Beginning balance, value at Dec. 31, 2020	$ 403,528	75,530	1,265	(308,618)	171,705
Beginning balance, shares at Dec. 31, 2020	247,039,010
Common shares issued in financing transaction, net of issuance costs	$ 21,417				21,417
Common shares issued in financing transaction, net of issuance costs, shares	5,752,068
Common shares issued upon exercise of warrants	$ 52				52
Common shares issued upon exercise of warrants, shares	34,494
Common shares issued upon of conversion of long-term debt	$ 2,000				2,000
Common shares issued upon of conversion of long-term debt, shares	1,369,863
Stock-based compensation	$ 51	2,088			2,139
Stock-based compensation, shares
Net loss				(17,647)	(17,647)
Unrealized holding gains on short-term investments			(54)		(54)
Currency translation adjustments			397		397
Ending balance, value at Mar. 31, 2021	$ 427,048	77,618	1,608	(326,265)	180,009
Ending balance, shares at Mar. 31, 2021	254,195,435
Beginning balance, value at Dec. 31, 2020	$ 403,528	75,530	1,265	(308,618)	171,705
Beginning balance, shares at Dec. 31, 2020	247,039,010
Common shares issued upon of conversion of long-term debt					2,000
Net loss					(50,970)
Ending balance, value at Sep. 30, 2021	$ 439,286	79,075	1,371	(359,588)	160,144
Ending balance, shares at Sep. 30, 2021	257,304,768
Beginning balance, value at Mar. 31, 2021	$ 427,048	77,618	1,608	(326,265)	180,009
Beginning balance, shares at Mar. 31, 2021	254,195,435
Common shares issued in financing transaction, net of issuance costs	$ 861				861
Common shares issued in financing transaction, net of issuance costs, shares	284,100
Common shares issued upon exercise of warrants	$ 29				29
Common shares issued upon exercise of warrants, shares	19,346
Common shares issued upon cashless exercise of warrants	$ 4,298	(4,298)
Common shares issued upon cashless exercise of warrants, shares	646,257
Warrant modification in connection with debt amendment		867			867
Stock-based compensation	$ 32	2,391			2,423
Stock-based compensation, shares
Net loss				(17,476)	(17,476)
Unrealized holding gains on short-term investments			54		54
Currency translation adjustments			1,316		1,316
Ending balance, value at Jun. 30, 2021	$ 432,268	76,578	2,978	(343,741)	168,083
Ending balance, shares at Jun. 30, 2021	255,145,138
Common shares issued in financing transaction, net of issuance costs	$ 6,982				6,982
Common shares issued in financing transaction, net of issuance costs, shares	2,156,597
Common shares issued upon exercise of warrants	$ 4				4
Common shares issued upon exercise of warrants, shares	3,033
Stock-based compensation	$ 32	2,497			2,529
Stock-based compensation, shares
Net loss				(15,847)	(15,847)
Currency translation adjustments			(1,607)		(1,607)
Ending balance, value at Sep. 30, 2021	$ 439,286	$ 79,075	$ 1,371	$ (359,588)	$ 160,144
Ending balance, shares at Sep. 30, 2021	257,304,768

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (50,970)	$ (30,868)
Adjustments to reconcile net loss to cash and cash equivalents used in operating activities:
Depreciation and amortization	1,366	1,218
Stock-based compensation	7,091	3,754
Amortization of debt discount	2,499	1,102
Inventory reserve	1,056	1,046
Interest accrued on short-term investments		(95)
Net change in operating working capital items:
Change in accounts receivable	40	173
Change in inventory	(1,178)	(1,504)
Change in prepaid expenses	(1,477)	(1,267)
Change in other current assets	4,182	(1,676)
Change in other long-term assets	(448)	(3)
Change in operating right of use assets	768	724
Change in accounts payable	10	2,167
Change in deferred revenues	(244)	(646)
Change in other current liabilities	16,710	(3,962)
Payments made on operating lease liabilities	(797)	(718)
Net cash flows used in operating activities	(21,392)	(30,555)
CASH FLOWS FROM INVESTING ACTIVITIES
Redemption of short-term investments	25,151
Purchase of short-term investments		(25,000)
Purchase of property and equipment	(1,385)	(468)
Net cash flows provided by/ (used in) investing activities	23,766	(25,468)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common shares for cash	30,275	106,269
Share issuance costs	(937)	(4,919)
Proceeds from debt financing	12,000	20,000
Debt issuance costs	(22)	(1,021)
Proceeds from issuance of common shares for cash, upon exercise of warrants	85	1,837
Proceeds from issuance of common shares for cash, upon exercise of stock options		1
Repayment of long-term debt		(15,300)
Net cash flows provided by financing activities	41,401	106,867
Effect of exchange rates on cash and cash equivalents	(130)	101
CHANGE IN CASH AND CASH EQUIVALENTS, FOR THE PERIOD	43,645	50,945
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	93,825	44,213
CASH AND CASH EQUIVALENTS, END OF PERIOD	137,470	95,158
Supplementary information:
Interest paid	1,428	1,187
Non-cash investing and financing activities:
Warrant modification in connection with debt amendment	(867)
Warrant issued in connection with financing activities		1,634
Common shares issued in connection with cashless warrant exercise	4,298
K2 conversion feature in connection with financing activities		2,577
Common shares issued upon conversion of debt	2,000
Capital expenditures included in accounts payable and other current liabilities	(73)	(86)
Share issuance costs included in other current liabilities	(78)	(293)
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, 2021
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 the wholly-owned subsidiary of VBI US (“VBI Cda”); SciVac Ltd. an Israeli company (“SciVac”); SciVac Hong Kong Limited (“SciVac HK”), a Hong Kong corporation; and VBI Vaccines B.V., a Netherlands company (“VBI BV”), 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 160 Second Street, Cambridge, MA 02142. In addition, the Company has research and manufacturing facilities located in Rehovot, Israel and research facilities located in Ottawa, Ontario, Canada. Principal Operations VBI is a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease. Through its innovative approach to virus-like particles (“VLPs”), including a proprietary enveloped VLP (“eVLP”) platform technology, VBI develops vaccine candidates that mimic the natural presentation of viruses, designed to elicit the innate power of the human immune system. VBI is committed to targeting and overcoming significant infectious diseases, including hepatitis B, COVID-19 and coronaviruses, and cytomegalovirus (“CMV”), as well as aggressive cancers including glioblastoma (“GBM”). VBI is headquartered in Cambridge, Massachusetts, with research operations in Ottawa, Canada, and a research and manufacturing site in Rehovot, Israel. 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 until recently, and has slowed recruitment to clinical trials. The pandemic has also caused interruptions to global supply chains which have significantly limited the availability of raw materials, laboratory supplies, and manufacturing equipment. 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 continue to 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 $ 359,588 as of September 30, 2021 and cash outflows from operating activities of $ 21,392 for the nine months ended September 30, 2021. 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 equivalent reserves. Additional financing may be obtained from the issuance of equity securities, the issuance of additional debt, 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. On March 9, 2021, the Company and the Coalition for Epidemic Preparedness Innovations (“CEPI”) announced a partnership (“CEPI Funding Agreement”) to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant, through Phase I clinical development. This funding will also support preclinical expansion of additional multivalent vaccine candidates designed to evaluate the potential breadth of our eVLP technology. The preclinical expansion is intended to develop clinic-ready vaccine candidates capable of addressing emerging variants. See more information on the CEPI Funding Agreement in Note 12. On May 17, 2021, the Company entered into the First Amendment to the Loan and Guaranty Agreement and Affirmation of Pledge and Security Agreement (the “First Amendment”) with K2 HealthVentures LLC and any other lender from time-to-time party thereto (the “Lenders”). See Note 9 for more details. In June 2021, the Company issued 646,257 2,068,824 On July 31, 2020, the Company entered into an Open Market Sale Agreement SM 125,000 8,192,765 30,275 3.70 1,015 29,260 30,040 On September 3, 2021, the Company entered into a second Open Market Sale Agreement SM 125,000,000 of the Company’s common shares from time to time in an at-the-market public offering, which the Company could choose to use when no shares remain available for issuance under the ATM Program. 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 other long-term assets approximate their respective fair values.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
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, 2020 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, 2020 (the “2020 10-K”), as filed with the SEC on March 2, 2021. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: VBI DE, VBI US, VBI Cda, SciVac, SciVac HK, and VBI BV. Intercompany balances and transactions between the Company and its subsidiaries are eliminated in the condensed consolidated financial statements. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation. 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 2020 10-K, and there have been no changes to the Company’s significant accounting policies during the nine months ended September 30, 2021, other than the polices discussed below. CEPI Funding Agreement Cash received in advance from the CEPI Funding Agreement is included in cash and cash equivalents on the condensed consolidated balance sheet, however, it is restricted as to its use until the relevant expenses are incurred. The cash received is recognized as deferred funding, included in other current liabilities on the condensed consolidated balance sheet, and recognized as a reduction in the related expense when incurred. As of September 30, 2021, the amount of cash received in advance from CEPI, not yet recognized as a reduction in expenses in the condensed consolidated statement of operations but included in cash and cash equivalents on the condensed consolidated balance sheets, is $ 13,469 . See more information on the CEPI Funding Agreement in Note 12.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	3. NEW ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements None Recently Issued Accounting Standards, not yet Adopted In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which will simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including certain convertible instruments and contracts on an entity’s own equity. Specifically, the new standard will remove the separation models required for convertible debt with cash conversion features and convertible instruments with beneficial conversion features. It will also remove certain settlement conditions that are currently required for equity contracts to qualify for the derivative scope exception and will simplify the diluted earnings per share calculation for convertible instruments. ASU 2020-06 will be effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years. Early adoption is permitted but no earlier than fiscal periods beginning after December 15, 2020, including interim periods within those fiscal years. This ASU can be applied either through a modified retrospective method of transition or a fully retrospective method of transition. The Company will adopt ASU 2020-06 on January 1, 2022, and is currently evaluating the impact this new guidance will have on its condensed consolidated financial statements and related disclosures. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt – Modifications and Extinguishments (Subtopic 470-50), Compensation – Stock Compensation (Topic 718), and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modification or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”), which will clarify and reduce diversity in practice. Specifically, the new standard includes a recognition model comprising four categories of transactions and corresponding accounting treatment for each category. The category that would apply to a modification or an exchange of an equity-classified warrant would depend on the substance of the modification transaction (e.g., a financing transaction to raise equity versus one to raise debt). This recognition model is premised on the idea that the accounting for the transaction should not differ from what it would have been had the issuer of the warrants paid cash instead of modifying the warrants. ASU 2021-04 will be effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years. Early adoption is permitted. This ASU will be applied prospectively to modifications or exchanges occurring on or after the effective date of the ASU. The Company will adopt ASU 2021-04 on January 1, 2022, and is currently evaluating the impact this new guidance will have on its condensed consolidated financial statements and related disclosures.

INVENTORY, NET

INVENTORY, NET	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
INVENTORY, NET	4. INVENTORY, NET Inventory consists of the following: SCHEDULE OF INVENTORY September 30, 2021 December 31, Work-in-process $ 515 $ 390 Raw materials 1,750 1,762 Inventory, net $ 2,265 $ 2,152

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT ASSETS	5. OTHER CURRENT ASSETS Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS September 30, 2021 December 31, Government receivables $ 2,854 $ 7,830 Other current assets 2,127 1,312 Total other current assets $ 4,981 $ 9,142

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	6. 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, 2021. 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 10% to 17%. SCHEDULE OF INDEFINITE LIVED INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CURRENCY TRANSLATION September 30, 2021 Gross Carrying Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (641 ) $ - $ 43 $ 71 IPR&D assets 61,500 - (300 ) 879 62,079 $ 62,169 $ (641 ) $ (300 ) $ 922 $ 62,150 December 31, 2020 Gross Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (590 ) $ - $ 44 $ 123 IPR&D assets 61,500 - (300 ) 833 62,033 $ 62,169 $ (590 ) $ (300 ) $ 877 $ 62,156 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, 2020 relates to currency translation adjustments which increased by $ 46 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, 2021. 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, 2021. SCHEDULE OF GOODWILL September 30, 2021 Gross Carrying Amount Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (159 ) $ 2,263 December 31, 2020 Gross Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (161 ) $ 2,261 The change in carrying value for goodwill from December 31, 2020 relates to currency translation adjustments which increased by $ 2

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	7. 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) $ 7,254 $ 5,842 Accrued professional fees 4,143 1,547 Payroll and employee-related costs 2,086 3,844 Deferred government grants 1,076 825 Deferred funding 13,469 - Other current liabilities 444 357 Total other current liabilities $ 28,472 $ 12,415

LOSS PER SHARE OF COMMON SHARES

LOSS PER SHARE OF COMMON SHARES	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
LOSS PER SHARE OF COMMON SHARES	8. 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 10, Stockholders’ Equity and Additional Paid-in Capital. The following potentially dilutive securities outstanding at September 30, 2021 and 2020 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 1,384,469 3,398,824 Stock options and restricted stock units 18,409,572 12,580,297 K2 conversion feature 1,369,863 2,739,726 21,163,904 18,718,847

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	9. LONG-TERM DEBT As of September 30, 2021, and December 31, 2020, the long-term debt is as follows: SCHEDULE OF LONG-TERM DEBT September 30, December 31, Long-term debt, net of debt discount of $ 4,285 5,061 $ 27,939 $ 16,329 Less: current portion, net of debt discount of $ 0 0 - - Long-term debt $ 27,939 $ 16,329 On May 22, 2020, the Company (along with its subsidiary VBI Cda) entered into the Loan and Guaranty Agreement (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 $ 20,000 The Lenders originally 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 $ 10,000 10,000 10,000 4,000 1.46 June 1, 2024 2,000 1,369,863 1.46 The Lenders have the ability to convert an additional $ 2,000 On May 17, 2021, the Company entered into the First Amendment with the Lenders to: (1) increase the Second Tranche Term Loan from $ 10,000 12,000 7.75 4.50 July 1, 2022 January 1, 2023 In connection with the Loan Agreement, on May 22, 2020, the Company issued the Lenders a warrant to purchase up to 625,000 1.12 312,500 937,500 1.12 The number of common shares issuable pursuant to the Restated K2 Warrant, at any given time, is determined by dividing the Warrant Coverage Amount by the Warrant Price, where the Warrant Coverage Amount is equal to the sum of $ 1,050 May 22, 2030 The total proceeds attributed to the Original K2 Warrant was $ 1,181 based on the relative fair value of the Original K2 Warrant as compared to the sum of the fair values of the Original 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 Original 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 original secured term loan principal 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 related to the First Tranche Term Loan. The total initial debt discount was $ 6,169 . The Second Tranche Term Loan, issued pursuant to the Loan Agreement as amended by the First Amendment, resulted in the Company incurring an additional $ 22 150 834 6.95 The Company accounted for the First Amendment as a debt modification and as a result the debt discount was increased by $ 1,723 867 834 22 Upon receipt of additional funds under the Loan Agreement as amended by the First Amendment, additional common shares will be issuable pursuant to the Restated K2 Warrant as determined by the principal amount of the Third Tranche and Fourth Tranche actually funded 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, as amended by the First Amendment, outstanding at September 30, 2021, including the $ 2,224 final payment discussed above, is $ 32,224 . The principal amount of the loan made under the Loan Agreement prior to the First Amendment accrues interest at an annual rate equal to the greater of (a) 8.25 % or (b) prime rate plus 5.00 %. The principal amount of the Second Tranche Term Loan made under the Loan Agreement, as amended by the First Amendment, accrues interest at an annual rate equal to the greater of (a) 7.75 % or (b) prime rate plus 4.50 %. The interest rate as of September 30, 2021 was 8.25 % for the First Tranche Term Loan and 7.75 % for the Second Tranche Term Loan. The Company is required to pay only interest until January 1, 2023 . The effective interest rate on the loan of $ 30,000 , excluding the final payment, is 15.56 %. 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, as amended by the First Amendment, 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, and VBI BV, are guarantors of the obligations of the Company and VBI Cda under the Loan Agreement. The Loan Agreement also contains customary events of default. The total debt discount related to the Loan Agreement, as amended by the First Amendment, with K2 HealthVentures LLC is $ 7,892 4,285 5,061 During the three and nine months ended September 30, 2021, as a result of the conversion of term loan to common shares, $ 0 1,161 At September 30, 2021 and December 31, 2020, the fair value of our outstanding debt, which is considered level 3 in the fair value hierarchy, is estimated to be $ 30,245 20,117 Interest expense, net of interest income recorded in the three and nine months ended September 30, 2021 and 2020 was as follows: SCHEDULE OF INTEREST EXPENSE 2021 2020 2021 2020 Three months ended Nine months ended 2021 2020 2021 2020 Interest expense $ 618 $ 422 $ 1,488 $ 1,330 Amortization of debt discount 487 468 2,499 1,102 Interest income (79 ) (148 ) (304 ) (426 ) Total interest expense, net of interest income $ 1,026 $ 742 $ 3,683 $ 2,006 Interest expense and amortization of debt discount for the three and nine months ended September 30, 2021 does not include any amounts incurred to a related party. 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 The following table summarizes the future principal payments due under long-term debt: SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT Principal Remaining 2021 $ - 2022 - 2023 19,573 2024 12,651 Total $ 32,224

STOCKHOLDERS_ EQUITY AND ADDITI

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL	10. STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL Stock option plans The Company’s stock option plans are approved by and administered by the 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 The 2006 VBI US Stock Option Plan (the “2006 Plan”), was approved by and was previously administered by the VBI US board of directors which designated eligible participants to be included under the 2006 Plan, and designated the number of options, exercise price and vesting period of the new options. The 2006 Plan was not approved by the stockholders of VBI US. The 2006 Plan was superseded by the 2014 Plan (as defined below) following the PLCC Merger and no further options will be issued under the 2006 Plan. As of September 30, 2021, there were 989,813 2014 Equity Incentive Plan On May 1, 2014, the VBI DE board of directors adopted the VBI Vaccines Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan was approved by the VBI DE’s shareholders on July 14, 2014. No further options will be issued under the 2014 Plan. As of September 30, 2021, there were 521,242 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 16,839,053 59,464 The aggregate number of common shares remaining available for issuance for awards under the 2016 Plan totaled 5,922,671 Activity related to stock options is as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Weighted Balance outstanding at December 31, 2020 12,507,541 $ 2.38 Granted 5,990,000 $ 3.15 Forfeited (147,433 ) $ 3.04 Balance outstanding at September 30, 2021 18,350,108 $ 2.63 Exercisable at September 30, 2021 9,090,514 $ 2.54 Information relating to RSUs is as follow: SCHEDULE OF RESTRICTED STOCK UNITS Number of Weighted Unvested shares outstanding at December 31, 2020 129,356 $ 1.62 Vested (62,806 ) $ 1.74 Forfeited (7,086 ) 1.51 Unvested shares outstanding at September 30, 2021 59,464 $ 1.50 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 2021 2020 Volatility 96.99 % 91.47 % Risk free interest rate 0.57 % 1.20 % Expected term in years 5.84 5.81 Expected dividend yield 0.00 % 0.00 % Weighted average fair value per option $ 2.41 $ 1.41 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, 2021 and 2020 was as follows: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three months ended September 30 Nine months ended September 30 2021 2020 2021 2020 Research and development $ 476 $ 309 $ 1,368 $ 770 General and administrative 2,029 1,170 5,656 2,947 Cost of revenues 24 14 67 37 Total stock-based compensation expense $ 2,529 $ 1,493 $ 7,091 $ 3,754 Warrants On May 17, 2021, in connection with the First Amendment, as described in Note 9, the Company issued the Lenders the Restated K2 Warrant to purchase an additional 312,500 937,500 1.12 The value attributed to the Restated K2 Warrant was based on the Black-Scholes option pricing model by applying the following assumptions: SCHEDULE OF FAIR VALUE OF WARANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS Restated K2 Warrant Volatility 95.00 % Risk free interest rate 1.53 % Expected term in years 9 Expected dividend yield 0.00 % Fair value per warrant $ 2.77 Activity related to the warrants is as follows: SCHEDULE OF WARRANT ACTIVITY Number of Weighted Balance outstanding at December 31, 2020 3,197,666 $ 2.23 Restated K2 Warrant 312,500 1.12 Exercised (2,125,697 ) $ 2.72 Balance outstanding at September 30, 2021 1,384,469 $ 1.24

REVENUES AND DEFERRED REVENUE

REVENUES AND DEFERRED REVENUE	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUES AND DEFERRED REVENUE	11. REVENUES AND DEFERRED REVENUE Revenue comprises the following: SCHEDULE OF REVENUE COMPRISED Three months ended September 30 Nine months ended September 30 2021 2020 2021 2020 Product revenues $ 24 $ 15 $ 262 $ 213 R&D service revenues 83 283 288 684 Total revenue $ 107 $ 298 $ 550 $ 897 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, 2021: SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS Total Current portion to September 30, 2022 Remaining portion thereafter Product revenues $ 469 $ - $ 469 R&D service revenues 2,395 324 2,071 Total $ 2,864 $ 324 $ 2,540 The following table presents changes in the deferred revenue balance for the nine months ended September 30, 2021: SUMMARY OF CHANGES IN DEFERRED REVENUE Balance at December 31, 2020 $ 3,104 Recognition of deferred revenue (246 ) Currency translation 6 Balance at September 30, 2021 $ 2,864 Short Term $ 324 Long Term $ 2,540 Collaboration and License Agreement – Brii Bio On December 4, 2018, we entered into a Collaboration and License Agreement with Brii Biosciences Limited (“Brii Bio”) (the “Collaboration and License Agreement”), amended on April 8, 2021, 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 $ 11,000 2,295,082 3,626 7,374 4,737 2,637 In addition, the Company is also eligible to receive an additional $ 117,500 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, 2021, R&D services related to Brii Bio that remain unsatisfied are $ 2,195 2,864 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.

COLLABORATION ARRANGEMENTS

COLLABORATION ARRANGEMENTS	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COLLABORATION ARRANGEMENTS	12. COLLABORATION ARRANGEMENTS GlaxoSmithKline Biologicals S.A. (“GSK”) On September 10, 2019, the Company entered into a Clinical Collaboration 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; three and nine months ended September 30, 2021 are $ 48 374 149 485 National Research Council of Canada (“NRC”) On March 31, 2020, the Company 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. On December 21, 2020, we signed an amendment to the collaboration agreement with the NRC to broaden the scope of collaboration to include certain pre-clinical evaluations, bioprocess optimization, technology transfer, and the performance of additional scale up work. On July 8, 2021, we signed a second amendment to the collaboration agreement with the NRC to broaden the scope of the collaboration to include developing a vaccine against the Beta variant of SARS-CoV-2. On August 27, 2021, we signed a third amendment to the collaboration agreement with the NRC further broaden the scope to include certain stable cell line work for our vaccine candidate against the Beta variant of SARS-CoV-2. The expiry date of the collaboration agreement is March 15, 2022. 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, 2021 are $ 712 and $ 942 , respectively. Costs for the three and nine months ended September 30, 2020 were $ 131 and $ 395 , respectively. CEPI On March 9, 2021, the Company and CEPI announced the CEPI Funding Agreement, to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and as 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant strain, through Phase I clinical development. This funding will also support preclinical expansion of additional multivalent vaccine candidates designed to evaluate the potential breadth of our eVLP technology . The preclinical expansion is intended to develop clinic-ready vaccine candidates capable of addressing emerging variants. Under the terms of the CEPI Funding Agreement, among other things, the Company and CEPI agreed on the importance of global equitable access to any vaccines produced pursuant to the CEPI Funding Agreement. Any such vaccines, if approved, are expected to be procured and allocated through global mechanisms as part of the Access to COVID-19 Tools (ACT) Accelerator, an international initiative launched by the World Health Organization (“WHO”), Gavi the Vaccine Alliance, CEPI, and other global non-governmental organizations and governmental leaders in 2021. 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 are expensed as incurred in Research and Development expenses; costs for the three and nine months ended September 30, 2021 are $ 2,711 and $ 4,918 , respectively. Such expenses for the three and nine months ended September 30, 2021 were reduced by the same amount. During the three and nine months ended September 30, 2021, the Company received $ 10,078 and $ 18,363 , respectively, from CEPI and as of September 30, 2021, the Company had $ 13,469 recorded as deferred funding, recorded in other current liabilities on the condensed consolidated balance sheet. Brii Biosciences Limited On December 4, 2018, we entered into the Collaboration and License Agreement with Brii Bio, which was amended on April 8, 2021, as described in Note 11.

GOVERNMENT GRANTS

GOVERNMENT GRANTS	9 Months Ended
	Sep. 30, 2021
Government Grants
GOVERNMENT GRANTS	13. GOVERNMENT GRANTS Grants recognized in research and development expenses in the consolidated statement of operations and comprehensive loss are as follows: Industrial Research Assistance Program (“IRAP”) On July 3, 2020, the Company and the NRC as represented by its IRAP signed a contribution agreement whereby the NRC agreed to contribute up to CAD $ 1,000 For the three and nine months ended September 30, 2021 the Company recognized $ 68 68 228 For the three and nine months ended September 30, 2020, the Company recognized $ 214 214 Strategic Innovation Fund (“SIF”) 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 SIF whereby ISED agreed to contribute up to CAD $ 55,976 For the three and nine months ended September 30, 2021, the Company recognized $ 2,365 6,377 848 For the three and nine months ended September 30, 2020, the Company recognized $ 549 549

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. 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 civil claims 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 our 3-antigen prophylactic HBV vaccine discovered in July 2015; that our 3-antigen prophylactic HBV vaccine was approved for use in children and infants in Israel without sufficient evidence establishing its safety; that SciVac failed to provide accurate information about our 3-antigen prophylactic HBV vaccine 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 children vaccinated with our 3-antigen prophylactic HBV vaccine in Israel from April 2011 and seeking damages in a total amount of NIS 1,879,500,000 582,069 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 subsequent preliminary hearings held on May 13, 2020, December 3, 2020 and September 30, 2021. The next preliminary hearing is scheduled to be held on June 9, 2022. 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 in Israel expires on January 31, 2022, which includes one five-year option to extend until January 31, 2027 The lease agreement for our research facility in Canada, which comprises office and laboratory space, has a term ending on December 31, 2022 with an option to extend the term for one additional period of three years. A lease for additional office space at our research facility commenced on October 1, 2020 with a term ending April 30, 2023 In October 2021, the Company terminated the office facility lease agreement in the United States. On September 23, 2021 the Company entered into a non-cancelable lease agreement for office space in the United States, the terms which will commence November 1, 2021 running through October 31, 2024. The Company will recognize a right of use assets and lease liability upon the rent commencement date. During the three months ended September 2021, the Company entered into two non-cancelable lease agreements for additional office at our manufacturing facility in Israel, the rent terms which will commence January 1, 2022 running through November 30, 2027 and July 1, 2022 running through June 30, 2032. The Company will recognize a right of use asset and lease liability for each agreement upon the rent commencement date. 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. SUMMARY OF LEASE COST AND OTHER INFORMATION Lease cost: Operating lease costs: Three months ended September 30, 2021 $ 385 Nine months ended September 30, 2021 1,069 Other information: Weighted average remaining lease term 2.05 Weighted average discount rate 12 % Operating lease costs are included G&A expenses in the statement of operations and comprehensive loss. The following table summarizes future undiscounted cash payments reconciled to the lease liabilities: SCHEDULE OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES Year ending December 31: 2021 Remaining 2021 $ 216 2022 242 2023 49 2024 11 Total $ 518 Effect of discounting (3 ) Total lease liability $ 515 Less: current portion (408 ) Lease liability, net of current portion $ 107

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	15. 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 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 2021 2020 2021 2020 Israel $ 44 $ 48 $ 300 $ 198 China / Hong Kong 63 250 246 646 Europe - - 4 53 Total $ 107 $ 298 $ 550 $ 897 There was no

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS Subsequent to September 30, 2021, the Company granted a total of 225,000 Options granted vest 25% 10

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
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, 2020 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, 2020 (the “2020 10-K”), as filed with the SEC on March 2, 2021. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries: VBI DE, VBI US, VBI Cda, SciVac, SciVac HK, and VBI BV. Intercompany balances and transactions between the Company and its subsidiaries are eliminated in the condensed consolidated financial statements. Certain items previously reported in specific financial statement captions have been reclassified to conform to the current presentation. 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 2020 10-K, and there have been no changes to the Company’s significant accounting policies during the nine months ended September 30, 2021, other than the polices discussed below.
CEPI Funding Agreement	CEPI Funding Agreement Cash received in advance from the CEPI Funding Agreement is included in cash and cash equivalents on the condensed consolidated balance sheet, however, it is restricted as to its use until the relevant expenses are incurred. The cash received is recognized as deferred funding, included in other current liabilities on the condensed consolidated balance sheet, and recognized as a reduction in the related expense when incurred. As of September 30, 2021, the amount of cash received in advance from CEPI, not yet recognized as a reduction in expenses in the condensed consolidated statement of operations but included in cash and cash equivalents on the condensed consolidated balance sheets, is $ 13,469 . See more information on the CEPI Funding Agreement in Note 12.

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	Inventory consists of the following: SCHEDULE OF INVENTORY September 30, 2021 December 31, Work-in-process $ 515 $ 390 Raw materials 1,750 1,762 Inventory, net $ 2,265 $ 2,152

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER CURRENT ASSETS	Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS September 30, 2021 December 31, Government receivables $ 2,854 $ 7,830 Other current assets 2,127 1,312 Total other current assets $ 4,981 $ 9,142

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INDEFINITE LIVED INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CURRENCY TRANSLATION	SCHEDULE OF INDEFINITE LIVED INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CURRENCY TRANSLATION September 30, 2021 Gross Carrying Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (641 ) $ - $ 43 $ 71 IPR&D assets 61,500 - (300 ) 879 62,079 $ 62,169 $ (641 ) $ (300 ) $ 922 $ 62,150 December 31, 2020 Gross Accumulated Cumulative Cumulative Net Book Patents $ 669 $ (590 ) $ - $ 44 $ 123 IPR&D assets 61,500 - (300 ) 833 62,033 $ 62,169 $ (590 ) $ (300 ) $ 877 $ 62,156
SCHEDULE OF GOODWILL	SCHEDULE OF GOODWILL September 30, 2021 Gross Carrying Amount Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (159 ) $ 2,263 December 31, 2020 Gross Cumulative Impairment Cumulative Translation Net Book Goodwill $ 8,714 $ (6,292 ) $ (161 ) $ 2,261

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
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) $ 7,254 $ 5,842 Accrued professional fees 4,143 1,547 Payroll and employee-related costs 2,086 3,844 Deferred government grants 1,076 825 Deferred funding 13,469 - Other current liabilities 444 357 Total other current liabilities $ 28,472 $ 12,415

LOSS PER SHARE OF COMMON SHAR_2

LOSS PER SHARE OF COMMON SHARES (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING	The following potentially dilutive securities outstanding at September 30, 2021 and 2020 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 1,384,469 3,398,824 Stock options and restricted stock units 18,409,572 12,580,297 K2 conversion feature 1,369,863 2,739,726 21,163,904 18,718,847

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
SCHEDULE OF LONG-TERM DEBT	As of September 30, 2021, and December 31, 2020, the long-term debt is as follows: SCHEDULE OF LONG-TERM DEBT September 30, December 31, Long-term debt, net of debt discount of $ 4,285 5,061 $ 27,939 $ 16,329 Less: current portion, net of debt discount of $ 0 0 - - Long-term debt $ 27,939 $ 16,329
SCHEDULE OF INTEREST EXPENSE	Interest expense, net of interest income recorded in the three and nine months ended September 30, 2021 and 2020 was as follows: SCHEDULE OF INTEREST EXPENSE 2021 2020 2021 2020 Three months ended Nine months ended 2021 2020 2021 2020 Interest expense $ 618 $ 422 $ 1,488 $ 1,330 Amortization of debt discount 487 468 2,499 1,102 Interest income (79 ) (148 ) (304 ) (426 ) Total interest expense, net of interest income $ 1,026 $ 742 $ 3,683 $ 2,006
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 2021 $ - 2022 - 2023 19,573 2024 12,651 Total $ 32,224

STOCKHOLDERS_ EQUITY AND ADDI_2

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2020 12,507,541 $ 2.38 Granted 5,990,000 $ 3.15 Forfeited (147,433 ) $ 3.04 Balance outstanding at September 30, 2021 18,350,108 $ 2.63 Exercisable at September 30, 2021 9,090,514 $ 2.54
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, 2020 129,356 $ 1.62 Vested (62,806 ) $ 1.74 Forfeited (7,086 ) 1.51 Unvested shares outstanding at September 30, 2021 59,464 $ 1.50
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 2021 2020 Volatility 96.99 % 91.47 % Risk free interest rate 0.57 % 1.20 % Expected term in years 5.84 5.81 Expected dividend yield 0.00 % 0.00 % Weighted average fair value per option $ 2.41 $ 1.41
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, 2021 and 2020 was as follows: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE Three months ended September 30 Nine months ended September 30 2021 2020 2021 2020 Research and development $ 476 $ 309 $ 1,368 $ 770 General and administrative 2,029 1,170 5,656 2,947 Cost of revenues 24 14 67 37 Total stock-based compensation expense $ 2,529 $ 1,493 $ 7,091 $ 3,754
SCHEDULE OF FAIR VALUE OF WARANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS	The value attributed to the Restated K2 Warrant was based on the Black-Scholes option pricing model by applying the following assumptions: SCHEDULE OF FAIR VALUE OF WARANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS Restated K2 Warrant Volatility 95.00 % Risk free interest rate 1.53 % Expected term in years 9 Expected dividend yield 0.00 % Fair value per warrant $ 2.77
SCHEDULE OF WARRANT ACTIVITY	Activity related to the warrants is as follows: SCHEDULE OF WARRANT ACTIVITY Number of Weighted Balance outstanding at December 31, 2020 3,197,666 $ 2.23 Restated K2 Warrant 312,500 1.12 Exercised (2,125,697 ) $ 2.72 Balance outstanding at September 30, 2021 1,384,469 $ 1.24

REVENUES AND DEFERRED REVENUE (

REVENUES AND DEFERRED REVENUE (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
SCHEDULE OF REVENUE COMPRISED	Revenue comprises the following: SCHEDULE OF REVENUE COMPRISED Three months ended September 30 Nine months ended September 30 2021 2020 2021 2020 Product revenues $ 24 $ 15 $ 262 $ 213 R&D service revenues 83 283 288 684 Total revenue $ 107 $ 298 $ 550 $ 897
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, 2021: SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS Total Current portion to September 30, 2022 Remaining portion thereafter Product revenues $ 469 $ - $ 469 R&D service revenues 2,395 324 2,071 Total $ 2,864 $ 324 $ 2,540
SUMMARY OF CHANGES IN DEFERRED REVENUE	The following table presents changes in the deferred revenue balance for the nine months ended September 30, 2021: SUMMARY OF CHANGES IN DEFERRED REVENUE Balance at December 31, 2020 $ 3,104 Recognition of deferred revenue (246 ) Currency translation 6 Balance at September 30, 2021 $ 2,864 Short Term $ 324 Long Term $ 2,540

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
SUMMARY OF LEASE COST AND OTHER INFORMATION	SUMMARY OF LEASE COST AND OTHER INFORMATION Lease cost: Operating lease costs: Three months ended September 30, 2021 $ 385 Nine months ended September 30, 2021 1,069 Other information: Weighted average remaining lease term 2.05 Weighted average discount rate 12 %
SCHEDULE OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES	The following table summarizes future undiscounted cash payments reconciled to the lease liabilities: SCHEDULE OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES Year ending December 31: 2021 Remaining 2021 $ 216 2022 242 2023 49 2024 11 Total $ 518 Effect of discounting (3 ) Total lease liability $ 515 Less: current portion (408 ) Lease liability, net of current portion $ 107

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2021
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 2021 2020 2021 2020 Israel $ 44 $ 48 $ 300 $ 198 China / Hong Kong 63 250 246 646 Europe - - 4 53 Total $ 107 $ 298 $ 550 $ 897

NATURE OF BUSINESS AND CONTIN_2

NATURE OF BUSINESS AND CONTINUATION OF BUSINESS (Details Narrative) - USD ($)	Sep. 03, 2021	Jul. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Retained Earnings (Accumulated Deficit)				$ 359,588,000		$ 308,618,000
Net Cash Provided by (Used in) Operating Activities				$ 21,392,000	$ 30,555,000
[custom:DescriptionOnVaccineDevelopment]				On March 9, 2021, the Company and the Coalition for Epidemic Preparedness Innovations (“CEPI”) announced a partnership (“CEPI Funding Agreement”) to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant, through Phase I clinical development.
Payments of stock issuance costs				$ 937,000	$ 4,919,000
ATM Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of common stock issued				8,192,765
Gross proceeds from issuance of common stock				$ 30,275,000
Average price per share				$ 3.70
Payments of stock issuance costs				$ 1,015,000
Proceeds from issuance of common stock, net				29,260,000
Shares available for issuance value				$ 30,040,000
Maximum [Member] | Open Market Sale Agreement [Member] | Jefferies LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Open market sale agreement sales cost		$ 125,000,000
Maximum [Member] | Second Open Market Sale Agreement [Member] | Jefferies LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sale of Stock, Consideration Received Per Transaction	$ 125,000,000
Perceptive Credit Holdings [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of common stock issued			646,257
Perceptive Credit Holdings [Member] | Warrant [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common shares issued upon cashless exercise of warrants, shares			2,068,824

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Thousands	Sep. 30, 2021USD ($)
CEPI Funding Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cash	$ 13,469

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Work-in-process	$ 515	$ 390
Raw materials	1,750	1,762
Inventory, net	$ 2,265	$ 2,152

SCHEDULE OF OTHER CURRENT ASSET

SCHEDULE OF OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Government receivables	$ 2,854	$ 7,830
Other current assets	2,127	1,312
Total other current assets	$ 4,981	$ 9,142

SCHEDULE OF INDEFINITE LIVED IN

SCHEDULE OF INDEFINITE LIVED INTANGIBLE ASSETS INCLUDING CUMULATIVE IMPAIRMENT AND CURRENCY TRANSLATION (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 62,169	$ 62,169
Accumulated Amortization	(641)	(590)
Cumulative Impairment Charge	(300)	(300)
Cumulative Currency Translation	922	877
Net Book value	62,150	62,156
Inprocess Research And Development Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	61,500	61,500
Accumulated Amortization
Cumulative Impairment Charge	(300)	(300)
Cumulative Currency Translation	879	833
Net Book value	62,079	62,033
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	669	669
Accumulated Amortization	(641)	(590)
Cumulative Impairment Charge
Cumulative Currency Translation	43	44
Net Book value	$ 71	$ 123

SCHEDULE OF GOODWILL (Details)

SCHEDULE OF GOODWILL (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
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	(159)	(161)
Goodwill, Net Book value	$ 2,263	$ 2,261

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL (Details Narrative) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible asset valuation 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 10% to 17%.
Goodwill [Member]
Finite-Lived Intangible Assets [Line Items]
Increase in Foreign currency translation adjustment	$ 2
Inprocess Research And Development Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Increase in Foreign currency translation adjustment	$ 46

SCHEDULE OF OTHER CURRENT LIABI

SCHEDULE OF OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Accrued research and development expenses (including clinical trial accrued expenses)	$ 7,254	$ 5,842
Accrued professional fees	4,143	1,547
Payroll and employee-related costs	2,086	3,844
Deferred government grants	1,076	825
Deferred funding	13,469
Other current liabilities	444	357
Total other current liabilities	$ 28,472	$ 12,415

SCHEDULE OF ANTIDILUTIVE WEIGHT

SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES OUTSTANDING (Details) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	21,163,904	18,718,847
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	1,384,469	3,398,824
Stock Options And Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	18,409,572	12,580,297
K2 Conversion Feature [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive weighted average shares outstanding	1,369,863	2,739,726

SCHEDULE OF LONG-TERM DEBT (Det

SCHEDULE OF LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt, net of debt discount of $4,285 ($5,061 at December 31, 2020)	$ 27,939	$ 16,329
Less: current portion, net of debt discount of $0 ($0 at December 31, 2020)
Long-term debt	$ 27,939	$ 16,329

SCHEDULE OF LONG-TERM DEBT (D_2

SCHEDULE OF LONG-TERM DEBT (Details) (Parenthetical) - Long-term Debt [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Extinguishment of Debt [Line Items]
Debt Instrument, Unamortized Discount	$ 4,285	$ 5,061
Debt Instrument, Unamortized Discount, Current	$ 0	$ 0

SCHEDULE OF INTEREST EXPENSE (D

SCHEDULE OF INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Interest expense	$ 618	$ 422	$ 1,488	$ 1,330
Amortization of debt discount	487	468	2,499	1,102
Interest income	(79)	(148)	(304)	(426)
Total interest expense, net of interest income	$ 1,026	$ 742	$ 3,683	$ 2,006

SCHEDULE OF FUTURE PRINCIPAL OF

SCHEDULE OF FUTURE PRINCIPAL OF LONG-TERM DEBT (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
Remaining 2021
2022
2023	19,573
2024	12,651
Total	$ 32,224

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	May 17, 2021	Feb. 03, 2021	May 22, 2020	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt conversion, converted instrument, amount					$ 2,000			$ 2,000
Debt conversion, converted instrument, additional amount		$ 2,000
Proceeds from Warrant Exercises								85	1,837
Effective price of warrants			$ 1.52
Intrinsic value of beneficial conversion feature recorded to additional paid in capital			$ 2,577
Repayments of secured debt								32,224
Amortization of Debt Issuance Costs and Discounts				$ 487		$ 468		2,499	1,102
Interest expense related party									723
Unamortized debt discount									$ 461
Fair Value, Inputs, Level 3 [Member]
Debt Instrument [Line Items]
Debt instrument, fair value disclosure				$ 30,245				$ 30,245			$ 20,117
Restated K 2 Warrant [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount	$ 1,723
Fair value adjustment of warrants	867
Second Tranche [Member] | Fair Value, Inputs, Level 3 [Member]
Debt Instrument [Line Items]
Repayments of secured debt	834
Second Tranche [Member] | Restated K 2 Warrant [Member]
Debt Instrument [Line Items]
Debt issuance costs, net	$ 22
Loan and Guaranty Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date									Jun. 1, 2024
Debt instrument, interest rate, stated percentage				8.25%				8.25%
Repayments of secured debt								$ 2,224
Loans Payable							$ 30,000
Debt increased percentage								5.00%
Amortization of Debt Issuance Costs and Discounts				$ 0				$ 1,161
Loan and Guaranty Agreement [Member] | Final Payment [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				15.56%				15.56%
Loan and Guaranty Agreement [Member] | K2 Warrant [Member]
Debt Instrument [Line Items]
Warrant or Right, Reason for Issuance, Description								additional common shares will be issuable pursuant to the Restated K2 Warrant as determined by the principal amount of the Third Tranche and Fourth Tranche actually funded 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] | Restated K 2 Warrant [Member]
Debt Instrument [Line Items]
Exercise price of warrants	$ 1.12
Loan and Guaranty Agreement [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				5.00%				5.00%
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member]
Debt Instrument [Line Items]
Debt Instrument, Description			The Lenders originally 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 $10,000 available between January 1, 2021 and April 30, 2021 upon achievement of certain milestones (the “Second Tranche Term Loan”), (2) $10,000 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 $10,000 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 originally had the ability to convert, at the Lenders’ option, up to $4,000 of the secured term loan into common shares of the Company at a conversion price of $1.46 per share (“K2 conversion feature”) until the maturity date of June 1, 2024.
Debt conversion, converted instrument, amount			$ 4,000
Debt instrument, convertible, conversion price			$ 1.46
Debt Instrument, Maturity Date			Jun. 1, 2024
Class of warrant or right, number of securities called by each warrant or right	937,500
Debt issuance costs, net			$ 1,021
Additional discount			1,390
Debt instrument, unamortized discount			$ 6,169	$ 4,285				$ 4,285			$ 5,061
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member] | K2 Warrant [Member]
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by each warrant or right			625,000
Exercise price of warrants			$ 1.12
Warrant or Right, Reason for Issuance, Description			The number of common shares issuable pursuant to the Restated K2 Warrant, at any given time, is determined by dividing the Warrant Coverage Amount by the Warrant Price, where the Warrant Coverage Amount is equal to the sum of $1,050 plus the aggregate original principal amount of the Third Tranche and Fourth Tranche Term Loan advanced at that time multiplied by 3.5%. If the full $52,000 available in all K2 tranches is advanced pursuant to the Loan Agreement amended by the First Amendment, up to 1,562,500 common shares will be issuable pursuant to the Restated K2 Warrant. The Restated K2 Warrant may be exercised either for cash or on a cashless “net exercise” basis and expires on May 22, 2030.
Warrant maturity date			May 22, 2030
Proceeds from Warrant Exercises			$ 1,181
Loan and Guaranty Agreement [Member] | K 2 Healthventures L L C [Member] | Restated K 2 Warrant [Member]
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by each warrant or right	312,500
Exercise price of warrants	$ 1.12
Debt instrument, face amount	$ 1,050
Loan and Guaranty Agreement [Member] | First Tranche [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				8.25%				8.25%
Loan and Guaranty Agreement [Member] | First Tranche [Member] | K 2 Healthventures L L C [Member]
Debt Instrument [Line Items]
Secured debt			20,000
Loan and Guaranty Agreement [Member] | Second Tranche [Member]
Debt Instrument [Line Items]
Secured debt	$ 12,000		10,000
Debt instrument, interest rate, stated percentage	7.75%			7.75%			7.75%	7.75%
Debt issuance costs, net	$ 22
Third party cost	150
Repayments of secured debt	$ 834
Secured term loan final payment percentage							6.95%
Loan and Guaranty Agreement [Member] | Second Tranche [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, date of first required payment	Jul. 1, 2022
Loan and Guaranty Agreement [Member] | Second Tranche [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, date of first required payment	Jan. 1, 2023
Loan and Guaranty Agreement [Member] | Second Tranche [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.50%			4.50%				4.50%
Loan and Guaranty Agreement [Member] | Third Tranche [Member]
Debt Instrument [Line Items]
Debt instrument interest period extended date							Jan. 1, 2023
Loan and Guaranty Agreement [Member] | Third Tranche [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Secured debt										$ 10,000
Loan and Guaranty Agreement [Member] | Final Tranche [Member] | K 2 Healthventures L L C [Member]
Debt Instrument [Line Items]
Secured debt			$ 10,000
Loan Agreement [Member] | K 2 Healthventures L L C [Member]
Debt Instrument [Line Items]
Debt conversion, converted instrument, amount		$ 2,000
Debt instrument, convertible, conversion price		$ 1.46
Debt conversion, converted instrument, shares issued		1,369,863
Debt instrument, call feature								The Lenders have the ability to convert an additional $2,000 at the Lenders’ option.
Debt instrument discount				$ 7,892				$ 7,892

SCHEDULE OF STOCK OPTIONS ACTIV

SCHEDULE OF STOCK OPTIONS ACTIVITY (Details) - Equity Option [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Offsetting Assets [Line Items]
Number of Stock Options Outstanding, Beginning Balance | shares	12,507,541
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 2.38
Number of Stock Options, Granted | shares	5,990,000
Weighted Average Exercise Price, Granted | $ / shares	$ 3.15
Number of Stock Options, Forfeited | shares	(147,433)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 3.04
Number of Stock Options Outstanding, Ending Balance | shares	18,350,108
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 2.63
Number of Stock Options, Exercisable | shares	9,090,514
Weighted Average Exercise Price, Exercisable | $ / shares	$ 2.54

SCHEDULE OF RESTRICTED STOCK UN

SCHEDULE OF RESTRICTED STOCK UNITS (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Class of Stock [Line Items]
Number of Stock Awards, Unvested shares outstanding beginning balance | shares	129,356
Weighted Average Fair Value at Grant Date, Unvested shares outstanding beginning balance | $ / shares	$ 1.62
Number of Stock Awards, Vested | shares	(62,806)
Weighted Average Fair Value at Grant Date, Vested | $ / shares	$ 1.74
Number of Stock Awards, Forfeited | shares	(7,086)
Weighted Average Fair Value at Grant Date, Forfeited | $ / shares	$ 1.51
Number of Stock Awards, Unvested shares outstanding ending balance | shares	59,464
Weighted Average Fair Value at Grant Date, Unvested shares outstanding ending balance | $ / shares	$ 1.50

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, 2021	Sep. 30, 2020
Equity [Abstract]
Volatility	96.99%	91.47%
Risk free interest rate	0.57%	1.20%
Expected term in years	5 years 10 months 2 days	5 years 9 months 21 days
Expected dividend yield	0.00%	0.00%
Weighted average fair value per option	$ 2.41	$ 1.41

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total stock-based compensation expense	$ 2,529	$ 1,493	$ 7,091	$ 3,754
Research and Development [Member]
Total stock-based compensation expense	476	309	1,368	770
General and Administrative [Member]
Total stock-based compensation expense	2,029	1,170	5,656	2,947
Cost of Revenues [Member]
Total stock-based compensation expense	$ 24	$ 14	$ 67	$ 37

SCHEDULE OF FAIR VALUE OF WARAN

SCHEDULE OF FAIR VALUE OF WARANTS GRANTED BY USING BLACK-SCHOLES OPTION PRICING ASSUMPTIONS (Details) - K2 Warrant [Member]	Sep. 30, 2021$ / shares
Measurement Input, Price Volatility [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input	95
Measurement Input, Risk Free Interest Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input	1.53
Measurement Input, Expected Term [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants term	9 years
Measurement Input, Expected Dividend Rate [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and rights outstanding measurement input	0
Measurement Input, Share Price [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants per shares	$ 2.77

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - Warrants [Member]	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Balance Outstanding Beginning | shares	3,197,666
Weighted Average Exercise Price, Balance Outstanding Beginning | $ / shares	$ 2.23
Number of Warrants, Restated K2 Warrant | shares	312,500
Weighted Average Exercise Price, Restated K2 Warrant | $ / shares	$ 1.12
Number of Warrants, Exercised | shares	(2,125,697)
Weighted Average Exercise Price, Exercised | $ / shares	$ 2.72
Number of Warrants, Balance Outstanding Ending | shares	1,384,469
Weighted Average Exercise Price, Balance Outstanding Ending | $ / shares	$ 1.24

STOCKHOLDERS_ EQUITY AND ADDI_3

STOCKHOLDERS’ EQUITY AND ADDITIONAL PAID-IN CAPITAL (Details Narrative) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	May 17, 2021
Loan and Guaranty Agreement [Member] | Restated K 2 Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of warrant or right, number of securities called by warrants or rights			312,500
warrant price			$ 1.12
Loan and Guaranty Agreement [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of warrant or right, number of securities called by warrants or rights			937,500
2006 Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based compensation arrangement by share-based payment award, options, outstanding, number		989,813
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		16,839,053
Share-based compensation arrangement by share-based, percentage	10.00%
Share-based compensation arrangement by share-based payment award, number of shares available for grant		5,922,671
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 equity options, non vested, number		59,464

SCHEDULE OF REVENUE COMPRISED (

SCHEDULE OF REVENUE COMPRISED (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 107	$ 298	$ 550	$ 897
Product [Member]
Disaggregation of Revenue [Line Items]
Revenues	24	15	262	213
Service [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 83	$ 283	$ 288	$ 684

SUMMARY OF REVENUE EXPECTED TO

SUMMARY OF REVENUE EXPECTED TO BE RECOGNIZED IN FUTURE RELATED TO PERFORMANCE OBLIGATIONS (Details) $ in Thousands	Sep. 30, 2021USD ($)
Disaggregation of Revenue [Line Items]
Revenues	$ 2,864
Current Portion To September Thirty Two Thousand Twenty Two [Member]
Disaggregation of Revenue [Line Items]
Revenues	324
Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,540
Product [Member]
Disaggregation of Revenue [Line Items]
Revenues	469
Product [Member] | Current Portion To September Thirty Two Thousand Twenty Two [Member]
Disaggregation of Revenue [Line Items]
Revenues
Product [Member] | Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenues	469
Service [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,395
Service [Member] | Current Portion To September Thirty Two Thousand Twenty Two [Member]
Disaggregation of Revenue [Line Items]
Revenues	324
Service [Member] | Remaining Portion Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 2,071

SUMMARY OF CHANGES IN DEFERRED

SUMMARY OF CHANGES IN DEFERRED REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	$ 3,104
Contract with Customer, Liability, Revenue Recognized	(246)
Currency translation	6
Contract with Customer, Liability	2,864
Contract with Customer, Liability, Current	324	$ 255
Contract with Customer, Liability, Noncurrent	$ 2,540	$ 2,849

REVENUES AND DEFERRED REVENUE_2

REVENUES AND DEFERRED REVENUE (Details Narrative) - USD ($) $ in Thousands	Dec. 04, 2018	Sep. 30, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount		$ 2,864
Additional potential regulatory and sales milestone payments	$ 117,500
Contract with customer, liability		2,864	$ 3,104
License Agreement [Member] | Brii Bio [Member]
Disaggregation of Revenue [Line Items]
Non-refundable upfront payment	$ 11,000
Stock issued during period, shares	2,295,082
Stock issued during period, value	$ 3,626
Revenue, remaining performance obligation, amount	7,374
License Agreement [Member] | Brii Bio [Member] | Research and Services [Member]
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	4,737
License Agreement [Member] | Brii Bio [Member] | VBI-2601 [Member]
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, amount	$ 2,637
Collaboration and License Agreement [Member]
Disaggregation of Revenue [Line Items]
Unsatisfied amount of research and development services		2,195
Contract with customer, liability		$ 2,864

COLLABORATION ARRANGEMENTS (Det

COLLABORATION ARRANGEMENTS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense	$ 2,972,000	$ 4,478,000	$ 14,392,000	$ 10,035,000
Description of vaccine development			On March 9, 2021, the Company and CEPI announced the CEPI Funding Agreement, to develop eVLP vaccine candidates against SARS-COV-2 variants, including the Beta variant, also known as the B.1.351 variant and as 501Y.V2, first identified in South Africa. CEPI agreed to provide up to $33,018 to support the advancement of VBI-2905, a monovalent eVLP candidate expressing the pre-fusion form of the spike protein from the Beta variant strain, through Phase I clinical development. This funding will also support preclinical expansion of additional multivalent vaccine candidates designed to evaluate the potential breadth of our eVLP technology
Funding received	10,078		$ 18,363
Deferred funding	13,469,000		13,469,000
Collaboration Agreement [Member] | Glaxo Smith Kline Biologicals S. A. [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense	48,000	149,000	374,000	485,000
Collaboration Agreement [Member] | National Research Council of Canada [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense	712,000	$ 131,000	942,000	$ 395,000
CEPI Funding Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense	2,711,000		4,918,000
Collaborative Relationship [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Deferred funding	$ 13,469,000		$ 13,469,000

GOVERNMENT GRANTS (Details Narr

GOVERNMENT GRANTS (Details Narrative) $ in Thousands, $ in Thousands	Sep. 16, 2020CAD ($)	Jul. 03, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Deferred government grants			$ 1,076		$ 1,076		$ 825
Industrial Research Assistance Program [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Estimated contribution on transfer and scaleup of technical production process		$ 1,000
Reduction expenses			68	$ 214	68	$ 214
Deferred government grants			228		228
Strategic Innovation Fund [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reduction expenses			2,365	$ 549	6,377	$ 549
Deferred government grants			$ 848		$ 848
Estimated contribution on development of uncertain event program	$ 55,976

SUMMARY OF LEASE COST AND OTHER

SUMMARY OF LEASE COST AND OTHER INFORMATION (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 385	$ 1,069
Operating Lease, Weighted Average Remaining Lease Term	2 years 18 days	2 years 18 days
Operating Lease, Weighted Average Discount Rate, Percent	12.00%	12.00%

SCHEDULE OF FUTURE UNDISCOUNTED

SCHEDULE OF FUTURE UNDISCOUNTED CASH PAYMENTS RECONCILED TO LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Remaining 2021	$ 216
2022	242
2023	49
2024	11
Total	518
Effect of discounting	(3)
Total lease liability	515
Less: current portion	(408)	$ (944)
Lease liability, net of current portion	$ 107	$ 619

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) $ in Thousands	Sep. 13, 2018USD ($)	Sep. 13, 2018ILS (₪)	Sep. 30, 2021
UNITED STATES | Office Facility Lease Agreement [Member]
Product Liability Contingency [Line Items]
Lease expiration date			Apr. 30, 2023
ISRAEL | Manufacturing Facility Lease Agreement [Member]
Product Liability Contingency [Line Items]
Lessee, operating lease, description			Our manufacturing facility lease agreement in Israel expires on January 31, 2022, which includes one five-year option to extend until January 31, 2027
CANADA | Lease Agreement [Member]
Product Liability Contingency [Line Items]
Lessee, operating lease, description			The lease agreement for our research facility in Canada, which comprises office and laboratory space, has a term ending on December 31, 2022 with an option to extend the term for one additional period of three years. A lease for additional office space at our research facility commenced on October 1, 2020 with a term ending April 30, 2023
Sci B Vac [Member]
Product Liability Contingency [Line Items]
Damages total amount	$ 582,069	₪ 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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 107	$ 298	$ 550	$ 897
ISRAEL
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	44	48	300	198
China / Hong Kong [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	63	250	246	646
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues			$ 4	$ 53

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Segment	Sep. 30, 2020USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments | Segment			1
Revenue	$ 107	$ 298	$ 550	$ 897
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 0		$ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - New Employees [Member] - Two Thousand And Sixteen Plan [Member]	1 Months Ended
	Nov. 08, 2021shares
Subsequent Event [Line Items]
Options granted	225,000
Options vested, description	Options granted vest 25% on the one-year anniversary of the grant date, with the remaining 75% vesting on a monthly basis over 24 months.
Options granted vest, percentage	25.00%
Expiration period	10 years