U.S. Department of Defense (DoD) expense reimbursement contract	9 Months Ended
Sep. 30, 2021
U.S. Department of Defense (DoD) expense reimbursement contract
U.S. Department of Defense (DoD) expense reimbursement contract	3. U.S. Department of Defense (“DoD”) expense reimbursement contract In July 2020, the Company entered into an Other Transaction Authority for Prototype Agreement (“the OTA Agreement”) with the DoD to fund the Company’s efforts in developing an antibody cocktail therapeutic to treat COVID-19. The amount of funding being made available to the Company under this expense reimbursement contract was $13.3 million. In May 2021, the Company and the DoD amended the OTA, pursuant to which the DoD award was increased from $13.3 million to $17.6 million. The Company recorded contra-research and development expense of $5.3 million and $13.4 million for the three and nine months ended September 30, 2021, respectively, in the condensed statements of operations. The Company recorded contra-research and development expense of $0.6 million for the three and nine months ended September 30, 2020 in the condensed statements of operations. As of September 30, 2021, the Company had an expense reimbursement receivable balance of $2.4 million due from the DoD in prepaid expenses and other current assets on the condensed balance sheet. As of December 31, 2020, the Company had an expense reimbursement receivable balance of $0.9 million due from the DoD in prepaid expenses and other current assets on the condensed balance sheet. Costs that have been reimbursed by the DoD but not yet expensed by the Company are recorded as a deferred research obligation liability for the period. As of September 30, 2021, the Company has a deferred research obligation liability of $0.1 million. This amount is included in accrued expenses and other liabilities in the accompanying condensed balance sheet. DoD reimbursable services that have been performed but not yet billed are recorded as an unbilled receivable in prepaid expenses and other current assets on the condensed balance sheet. As of September 30, 2021, the Company has an unbilled receivable from the DoD of $1.8 million.

U.S. Department of Defense (DoD) expense reimbursement contract

9 Months Ended

Sep. 30, 2021

U.S. Department of Defense (DoD) expense reimbursement contract

U.S. Department of Defense (DoD) expense reimbursement contract

3. U.S. Department of Defense (“DoD”) expense reimbursement contract

In July 2020, the Company entered into an Other Transaction Authority for Prototype Agreement (“the OTA Agreement”) with the DoD to fund the Company’s efforts in developing an antibody cocktail therapeutic to treat COVID-19. The amount of funding being made available to the Company under this expense reimbursement contract was $13.3 million. In May 2021, the Company and the DoD amended the OTA, pursuant to which the DoD award was increased from $13.3 million to $17.6 million.

The Company recorded contra-research and development expense of $5.3 million and $13.4 million for the three and nine months ended September 30, 2021, respectively, in the condensed statements of operations. The Company recorded contra-research and development expense of $0.6 million for the three and nine months ended September 30, 2020 in the condensed statements of operations. As of September 30, 2021, the Company had an expense reimbursement receivable balance of $2.4 million due from the DoD in prepaid expenses and other current assets on the condensed balance sheet. As of December 31, 2020, the Company had an expense reimbursement receivable balance of $0.9 million due from the DoD in prepaid expenses and other current assets on the condensed balance sheet. Costs that have been reimbursed by the DoD but not yet expensed by the Company are recorded as a deferred research obligation liability for the period. As of September 30, 2021, the Company has a deferred research obligation liability of $0.1 million. This amount is included in accrued expenses and other liabilities in the accompanying condensed balance sheet. DoD reimbursable services that have been performed but not yet billed are recorded as an unbilled receivable in prepaid expenses and other current assets on the condensed balance sheet. As of September 30, 2021, the Company has an unbilled receivable from the DoD of $1.8 million.