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U.S. Government Contracts and Grants
9 Months Ended
Sep. 30, 2020
U S Government Contracts And Grants Disclosures [Abstract]  
U.S. Government Contracts and Grants

13. U.S. Government Contracts and Grants

 

In June 2020, the Company was awarded $4.7 million from the U.S. Army Medical Research & Development Command (“USAMRDC”) to fund our Phase 1/2 clinical trial of T-COVID. The competitive award was granted by USAMRDC in collaboration with the Medical Technology Enterprise Consortium (“MTEC”), a 501(c)(3) biomedical technology consortium working in partnership with the Department of Defense (“DoD”). Under the contract, MTEC will pay the Company a firm fixed fee based upon the achievement of certain milestones for conduct and completion of a Phase 1/2 study and research and development work on the replication-deficient adenovirus 5 (“RD-Ad5”) vector vaccine platform. For the three and nine months ended September 30, 2020, the Company has recognized $2.3 million of grant revenue under the contract.