6-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K/A

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16

Under the Securities Exchange Act of 1934

For the Month of December 2021

Commission File Number: 001-37353

BIONDVAX PHARMACEUTICALS LTD.

(Translation of registrant’s name into English)

Jerusalem BioPark, 2nd Floor

Hadassah Ein Kerem Campus

Jerusalem, Israel

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

BiondVax Pharmaceuticals Ltd. (the “Company”) is filing this Form 6-K/A (this “Amendment”) to file Exhibit 101, which was  not included in its Form 6-K filed with the Securities and Exchange Commission on December 2, 2021 (the “Original Form 6-K”). Exhibit 101 provides the financial statements included in the Original Form 6-K formatted in XBRL (eXtensible Business Reporting Language). 

This Amendment speaks as of the filing date of the Original Form 6-K, does not reflect events that have occurred after the filing date of the Original Form 6-K, and does not amend, modify or update in any way disclosures made in the Original Form 6-K.

Exhibit Index

Exhibit No.	Description
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Document

This Amendment is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (Registration No. 333-240189) and its Registration Statement on Form S-8 (Registration No. 333-239344).

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BiondVax Pharmaceuticals Ltd.
Date: December 27, 2021	By:	/s/ Amir Reichman
		Amir Reichman
		Chief Executive Officer

2

EX-99.2

Exhibit 99.2

BIONDVAX PHARMACEUTICALS LTD.

INTERIM FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2021

NIS IN THOUSANDS

UNAUDITED

INDEX

	Page
Balance Sheets	F-2 - F-3
Statements of Comprehensive Loss	F-4
Statements of Changes in Shareholders’ Equity (Deficiency)	F-5 – F-7
Statements of Cash Flows	F-8- F-9
Notes to Interim Financial Statements	F-10 - F-13

- - - - - - - - - - -

F-1

BIONDVAX PHARMACEUTICALS LTD.

BALANCE SHEETS

In thousands, except share and per share data

							Convenience
							Translation
							(Note 2c)
	December 31,		September 30,				September 30,
	2020		2020		2021		2021
	Audited		Unaudited				Unaudited
			N I S				U.S. dollars
CURRENT ASSETS:
Cash and cash equivalents		9,421		24,774		34,672		10,738
Other receivables		1,204		2,930		1,426		442
		10,625		27,704		36,098		11,180
LONG-TERM ASSETS:
Property, plant and equipment		39,607		39,889		38,607		11,956
Right-of-use assets		6,206		6,433		5,874		1,819
Other long-term assets		473		891		446		138
		46,286		47,213		44,927		13,913
		56,911		74,917		81,025		25,093

The accompanying notes are an integral part of the interim financial statements.

F-2

BIONDVAX PHARMACEUTICALS LTD.

BALANCE SHEETS

In thousands, except share and per share data

										Convenience
										Translation
										(Note 2c)
	December 31			September 30,						September 30,
	2020			2020			2021			2021
	Audited			Unaudited						Unaudited
				N I S						U.S. dollars
CURRENT LIABILITIES:
Trade payables		1,868			8,213			3,313			1,026
Operating lease liabilities		654			653			777			241
Loan from others		60,421			-			64,488			19,972
Other payables		1,246			2,289			1,693			524
		64,189			11,155			70,271			21,763
LONG-TERM LIABILITIES:
Operating lease liabilities		6,088			6,268			5,905			1,829
Loan from others		-			59,242			-			-
Other payables		1,135			-			568			176
Severance pay liability, net		95			93			95			29
		7,318			65,603			6,568			2,034
SHAREHOLDERS’ EQUITY:
Ordinary shares of no par value: Authorized: 1,800,000,000 shares at September 30, 2021 (unaudited) and 600,000,000 shares at September 30, 2020 (unaudited) and at December 31, 2020; Issued and outstanding: 573,285,824 shares at September 30, 2021 (unaudited), 460,822,640 shares at September 30, 2020 (unaudited) and 461,285,824 shares at December 31, 2020		-	*)		-	*)		-	*)		-	*)
Share premium		310,197			308,855			358,204			110,933
Accumulated deficit		(324,793	)		(310,696	)		(354,018	)		(109,637	)
		(14,596	)		(1,841	)		4,186			1,296
		56,911			74,917			81,025			25,093

*) Represents less than NIS\USD 1.

The accompanying notes are an integral part of the interim financial statements.

F-3

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF COMPREHENSIVE LOSS

In thousands, except share and per share data

																Convenience translation (Note 2)
	Year ended December 31,			Three months ended September 30,						Nine months ended September 30,						Nine months ended September 30,
	2020			2020			2021			2020			2021			2021
	Audited			Unaudited												Unaudited
	N I S															U.S. dollars
	(In thousands, except per share data)
Operating expenses:
Research and development, net of participations		51,463			12,579			2,024			43,595			6,677			2,068
Marketing, general and administrative		16,687			7,303			6,201			12,423			17,208			5,329
Other income		(75,484	)		(75,485	)		-			(75,485	)		-			-
Total operating expenses (income)		(7,334	)		(55,603	)		8,225			(19,467	)		23,885			7,397
Operating income (loss)		7,334			55,603			(8,225	)		19,467			(23,885	)		(7,397	)
Financial income		3,843			-			1,980			5,034			2,802			868
Financial expense		(15,632	)		(288	)		(2,801	)		(14,859	)		(8,142	)		(2,522	)
Net  Income (loss)		(4,455	)		55,315			(9,046	)		9,642			(29,225	)		(9,051	)
Basic net income (loss) per share (NIS)		(0.01	)		0.12			(0.02	)		0.02			(0.05	)		(0.02	)
Diluted net income (loss) per share (NIS)		(0.01	)		0.10			(0.02	)		0.02			(0.05	)		(0.02	)
Weighted average number of shares outstanding used to compute basic and diluted loss per share		443,260,878			461,046,640			573,205,607			437,381,202			559,239,052			559,239,052
Weighted average number of shares outstanding used to compute diluted income (loss) per share		443,260,878			538,495,403			573,205,607			497,489,765			559,239,052			559,239,052

The accompanying notes are an integral part of the interim financial statements.

F-4

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIENCY)

In thousands, except share and per share data

	Share capital			Share premium		Accumulated deficit			Total equity (deficiency)
	Unaudited
	NIS in thousands
Balance as of January 1, 2021		-	*)		310,197		(324,793	)		(14,596	)
Total comprehensive loss		-			-		(29,225	)		(29,225	)
Issuance of shares, net		-			41,448		-			41,448
Share-based compensation		-			6,559		-			6,559
Balance as of September 30, 2021		-	*)		358,204		(354,018	)		4,186
Balance as of September 30, 2021 (convenience translation into U.S. dollars (see Note 2c)		-	*)		110,933		(109,637	)		1,296

	Share capital			Share premium			Accumulated deficit			Total deficiency
	Unaudited
	NIS in thousands
Balance as of July 1, 2021		-	*)		356,358			(344,972	)		11,386
Issuance expenses		-			(681	)		-			(681	)
Total comprehensive loss		-			-			(9,046	)		(9,046	)
Share-based compensation		-			2,527			-			2,527
Balance as of September 30, 2021		-	*)		358,204			(354,018	)		4,186
Balance as of September 30, 2021 (convenience translation into U.S. dollars (see Note 2c)		-	*)		110,933			(109,637	)		1,296

*) Represents less than NIS\USD 1.

The accompanying notes are an integral part of the interim financial statements.

F-5

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIENCY)

In thousands, except share and per share data

	Share capital			Share premium		Accumulated deficit			Total deficiency
	Unaudited
	NIS
Balance as of January 1, 2020		-	*)		255,285		(320,338	)		(65,053	)
Total comprehensive income		-			-		9,642			9,642
Exercise of warrants		-			45,274		-			45,274
Exercise of options		-			166		-			166
Share-based compensation		-			8,130		-			8,130
Balance as of September 30, 2020		-	*)		308,855		(310,696	)		(1,841	)
Balance as of September 30, 2020 (convenience translation into U.S. dollars (see Note 2c)		-	*)		95,650		(96,220	)		570

	Share capital			Share premium		Accumulated deficit			Total deficiency
	Unaudited
	NIS in thousands
Balance as of July 1, 2020		-	*)		304,089		(366,011	)		(61,922	)
Total comprehensive loss		-			-		55,315			55,315
Exercise of warrants		-			166		-			166
Share-based compensation		-			4,600		-			4,600
Balance as of September 30, 2020		-	*)		308,855		(310,696	)		(1,841	)
Balance as of September 30, 2020 (convenience translation into U.S. dollars (see Note 2c)		-	*)		95,650		(96,220	)		570

*) Represents less than NIS\USD 1.

The accompanying notes are an integral part of the interim financial statements.

F-6

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIENCY)

In thousands, except share and per share data

	Share capital			Share premium		Accumulated deficit			Total deficiency
	Audited
	NIS in thousands
Balance as of January 1, 2020		-	*)		255,285		(320,338	)		(65,053	)
Total comprehensive loss		-			-		(4,455	)		(4,455	)
Exercise of warrants		-			45,274		-			45,274
Exercise of options		-			166		-			166
Share-based compensation		-			9,472		-			9,472
Balance as of December 31, 2020		-	*)		310,197		(324,793	)		(14,596	)
Balance as of December 31, 2020 (convenience translation into U.S. dollars (see Note 2c)		-	*)		95,065		(100,586	)		5,521

*) Represents less than NIS\USD 1.

The accompanying notes are an integral part of the interim financial statements.

F-7

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF CASH FLOWS

In thousands, except share and per share data

																Convenience translation (Note 2)
	Year ended December 31,			Three months ended September 30,						Nine months ended September 30,						Nine months ended September 30,
	2020			2020			2021			2020			2021			2021
	Audited			Unaudited												Unaudited
	N I S															U.S. dollars
Cash flows from operating activities:
Net income (loss)		(4,455	)		55,315			(9,046	)		9,642			(29,225	)		(9,051	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Adjustments to profit and loss items:
Depreciation of property, plant and equipment and right-of-use assets		2,436			626			612			1,830			1,821			564
Net financial expenses (income)		12,940			285			(1,803	)		13,347			(2,274	)		(704	)
Capital gain		(160	)		-			-			(160	)		-			-
Incease (decrease) in liability with respect to loans from others		(63,359	)		(62,799	)		240			(64,538	)		4,067			1,260
Decrease in liability with respect to government grants		(14,812	)		(12,686	)		-			(14,812	)		-			-
Share-based compensation		9,472			4,600			2,527			8,130			6,559			2,030
Change in employee benefit liabilities, net		6			1			-			4			-			-
		(53,477	)		(69,973	)		1,576			(56,199	)		10,173			3,150
Changes in asset and liability items:
Decrease (increase) in other receivables		(548	)		(463	)		1,215			(2,274	)		(252	)		(78	)
Increase (decrease) in trade payables		(15,194	)		4,143			678			(8,849	)		1,445			447
Increase (decrease)  in short- and long-term other payables		1,178			681			(614	)		1,086			(121	)		(37	)
		(14,564	)		4,361			1,279			(10,037	)		1,072			332
Cash paid and received during the year for:
Interest paid		(45	)		(15	)		4			(39	)		19			6
Interest received		2			-			-			1			-			-
		(43	)		(15	)		4			(38	)		19			6
Net cash flows used in operating activities		(72,539	)		(10,312	)		(6,187	)		(56,632	)		(17,961	)		(5,563	)

*) Represents an amount lower than NIS\USD 1.

The accompanying notes are an integral part of the interim financial statements

F-8

BIONDVAX PHARMACEUTICALS LTD.

STATEMENTS OF CASH FLOWS

In thousands, except share and per share data

																Convenience translation (Note 2)
	Year ended December 31,			Three months ended September 30,						Nine months ended September 30,						Nine months ended September 30,
	2020			2020			2021			2020			2021			2021
	Audited			Unaudited												Unaudited
	N I S															U.S. dollars
Cash Flows from Investing Activities:
Purchase of property and equipment		(6,132	)		(3,348	)		(4	)		(6,035	)		(132	)		(41	)
Proceeds from sale of property and equipment		160			-			-			160			-			-
Increase (decrease) in other long term assets		37			-			(9	)		(381	)		27			8
																	-
Net cash used in investing activities		(5,935	)		(3,348	)		(13	)		(6,256	)		(105	)		(33	)
Cash Flows from Financing Activities:
Repayment of operating lease liabilities		(1,240	)		(306	)		(307	)		(928	)		(930	)		(288	)
Proceeds from exercise of options to employees		166			166			-			166			-			-
Proceeds from exercise of warrants to public		14,790			-			-			14,790			-			-
Proceeds from issuance of shares, net of issuance costs		-			-			(681	)		-			41,448			12,836
Net cash provided by (used in) financing activities		13,716			(140	)		(988	)		14,028			40,518			12,548
Exchange differences on balances of cash and cash equivalents		1,712			(178	)		1,977			1,167			2,799			868
Increase (decrease) in cash and cash equivalents		(63,046	)		(13,978	)		(5,211	)		(47,693	)		25,251			7,820
Balance of cash and cash equivalents at the beginning of the period		72,467			38,752			42,506			72,467			9,421			2,918
Balance of cash and cash equivalents at the end of the period		9,421			24,774			34,672			24,774			34,672			10,738
Non cash financing activities
Exercise of warrants to the public		30,484			-			-			30,484			-			-

The accompanying notes are an integral part of the interim financial statements.

F-9

BIONDVAX PHARMACEUTICALS LTD.

NOTES TO INTERIM FINANCIAL STATEMENTS

In thousands, except share and per share data

NOTE 1: GENERAL

a. BiondVax Pharmaceuticals Ltd. (“the Company”) is focused on developing and ultimately commercializing products for prevention and treatment of infectious diseases and related illnesses. The Company was incorporated on July 21, 2003 in Israel, and started its activity on March 31, 2005. The Company’s principal executive offices and main laboratory are located at Jerusalem BioPark, 2nd floor, Hadassah Ein Kerem Campus, Jerusalem, Israel, next to Hadassah University Hospitals and Hebrew University’s Medical School.

b. On May 15, 2015, the Company completed a public offering of securities in the United States.

c. On March 28, 2017, the Company received an approval from the Investment Center of the Ministry of Economy and Industry of the State of Israel, for a grant (“the Grant”) representing 20% of a NIS 20,000 budget to be utilized towards the construction of a factory for the production of Phase 3 and commercial batches of the Company’s product. The receipt of the Grant was subject to certain terms and conditions, including those outlined under the Israeli Encouragement of Capital Investment Law,1959. The terms and conditions included, inter alia, the following: (a) at least 24% of the investments in the planned manufacturing facility’s fixed assets would be financed by additional share capital; (b) the Company would maintain its intellectual property and manufacturing facility in Israel for a period of at least 10 years.

To the report date the Investment Center of the Ministry of Economy and Industry of the State of Israel has yet to approve the grant to the company.

d. On June 19, 2017, the Company entered into a Finance Contract with the European Investment bank (EIB) for a total amount of € 20,000 (approximately $ 23,200) and up to 50% of the Company’s expected cost of developing and marketing the Company’s product candidate, M-001. In addition, as repayment features, EIB was entitled to receive the higher between 3% of any M-001 sales revenues for a period of ten years, or realizing a cash-on-cash multiple of 2.8 times.

e. On April 22, 2019, the EIB agreed to expand the 2017 financing agreement to the Company by an additional € 4,000 to a total of € 24,000 (approximately $ 27,600).

f. On October 23, 2020, the Company announced Phase 3 clinical trial results of its M-001 universal vaccine product. The results did not demonstrate a statistically significant difference between the vaccinated group and the placebo group in reduction of flu illness and severity. Therefore, the study failed to meet both the primary and secondary efficacy endpoints. However, the study’s primary safety endpoint was met.

g. On January 26, 2021, the EIB notified us, among other things, that they will not consider the failure of our pivotal phase 3 trial for M-001 to meet the primary and secondary efficacy endpoints as a trigger for prepayment of the loan extended under the Finance Contract.

F-10

BIONDVAX PHARMACEUTICALS LTD.

NOTES TO INTERIM FINANCIAL STATEMENTS

In thousands, except share and per share data

NOTE 1: GENERAL (Cont.)

However, the EIB cautioned us that their letter is not a consent, agreement, amendment or waiver in respect of the terms of the Finance Contract, reserving any other right or remedy the EIB may have now or subsequently. There is no guarantee that the decision by the EIB in their letter will not change at any time and without any notice or that the EIB will not determine that an event of default has occurred under the Finance Contract, which could result in all loans extended under the Finance Contract being accelerated and secured creditor remedies being exercised. If some or all of the loans under the Finance Contract are accelerated by the EIB, or secured creditor remedies are exercised, we expect such events to adversely impact our ability to continue as a going concern.

As of September 30, 2021, the EIB loan balance is $19,971 (approximately NIS 64,488).

h. In the nine months ended September 30, 2021, the Company incurred a loss of NIS 29,225 ($ 9,051) and negative cash flows from operating activities of NIS 17,961 ($ 5,563) and it has an accumulated deficit of NIS 354,018 ($ 109,637) as of that date.

To date the Company has not generated any revenues and will need additional funds to finance its operations in the future.

Furthermore, the Company intends to continue to finance its operating activities by raising capital. There are no assurances that the Company will be successful in obtaining an adequate level of financing needed for its long-term research, development and potential commercialization activities.

If the Company will not have the sufficient liquidity resources, the Company may not be able to continue the development of its prospective products or may be required to implement a cost reduction and may be required to delay part of its development program. The Company’s management and Board of Directors are of the opinion that its current financial resources will be sufficient to continue the operations of the Company for at least the next twelve months.

F-11

BIONDVAX PHARMACEUTICALS LTD.

NOTES TO FINANCIAL STATEMENTS

In thousands, except share and per share data

NOTE 2:- CONVENIENCE TRANSLATION INTO U.S. DOLLARS

The financial statements as of September 30, 2021 and for the nine months then ended have been translated into dollars using the representative exchange rate as of that date ($ 1 =  NIS 3.229). The translation was made solely for the convenience of the reader. The amounts presented in these financial statements should not be construed to represent amounts receivable or payable in dollars or convertible into dollars, unless otherwise indicated in these statements.

NOTE 3: SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in a condensed format as of September 30, 2021, and for the three and nine months then ended (“interim financial statements”). These financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2020, and for the year then ended and accompanying notes (“annual financial statements”).

Basis of preparation of the interim financial statements

The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, “Interim Financial Reporting”, and in accordance with the disclosure requirements of Chapter D of the Securities Regulations (Periodic and Immediate Reports), 1970.

The significant accounting policies and methods of computation adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Company’s annual financial statements.

NOTE 4: MAJOR EVENTS DURING THE PERIOD

a. On January 21, 2021, the Company announced the appointment of Amir Reichman as its new Chief Executive Officer. Mr. Reichman and Dr. Ron Babecoff, its founder and former CEO, shared duties during a transition period while Mr. Reichman completed his former work obligations. Effective March 2, 2021, Mr. Reichman assumed the CEO position full time and Dr. Babecoff continued as Senior Advisor to the Company.

b. On February 2, 2021, the Company closed an underwritten offering in which it sold 2,434,783 ADSs at a public offering price of $4.95 per ADS. On February 10, 2021, Aegis Capital Corp., the sole bookrunning manager for the underwritten offering, fully exercised its over-allotment option to purchase an additional 365,217 ADSs, bringing total gross proceeds to the Company from the offering including exercise of the over-allotment option of approximately $13,800. The Company received a net sum of $12,836 (approximately NIS 41,448).

c. On April 6, 2021, the Company held an Extraordinary Meeting of Shareholders (the “Meeting”). At the Meeting, among other approved resolutions, the Company approved grants to the board members and CEO:

1. 30,000 RSUs to 6 directors, to vest in equal monthly installments during a period of three (3) years (if they continue to serve as directors) commencing one (1) month following the date of shareholder approval and would become fully vested, in accordance with the terms of the grant, on April 6, 2024. The RSUs would be subject to accelerated vesting in the event of a change of control.

2. Options to purchase 150,000 ADSs of the Company at an exercise price of the greater of (i) $6.95, which is the greater of (x) 130% of the average closing price on Nasdaq during the 30 trading days prior to board approval and (y) 130% of the weighted average closing price on Nasdaq during the 30 calendar days prior to board approval), and (ii) 100% of the weighted average closing price on Nasdaq in the 30 calendar days prior to shareholder approval. The options, which would include the ability to exercise on a cashless basis, would vest in equal monthly installments during a period of three (3) years commencing one (1) month following the date of shareholder approval and would become fully vested, in accordance with the terms of the grant, on April 6, 2024. The options would be subject to accelerated vesting and would become immediately exercisable in the event of a change of control. In addition, the options would have a term of ten (10) years following the date of shareholder approval and, to the extent the options are vested, such vested options would continue to be exercisable during such term in the event of termination of service to the Company without cause.

F-12

BIONDVAX PHARMACEUTICALS LTD.

NOTES TO INTERIM FINANCIAL STATEMENTS

In thousands, except share and per share data

NOTE 4: MAJOR EVENTS DURING THE PERIOD (cont.)

3. An amendment to the Company’s Articles of Association increasing the registered share capital of the Company by an additional 1,100,000,000 Ordinary Shares (the equivalent of 27.5 million ADSs) such that the total registered share capital of the Company would consist of 1,800,000,000 Ordinary Shares, no par value (the equivalent of 45 million ADSs).

4. The Company will issue to the new CEO 600,000 restricted share units (the “RSUs”) under the Company’s 2018 Israeli Share Option Plan, which will vest over a period of five years, 20% to vest each year on the anniversary date of the commencement date, and would become fully vested, in accordance with the terms of the grant, on March 2, 2026. The ADSs underlying the RSUs may not be sold by Mr. Reichman during the term of his employment.

5. The shareholders approved the amendment to the following options held by directors of the Company, as follows: Mr. Mark Germain (130,710 options), Prof. Avner Rotman (20,000 options), Mr. Adi Raviv (18,000 options), Prof. George H. Lowell (20,000 options), Dr. Morris Laster (18,000 options), Dr. Yael Margolin (18,000 options) and Mr. Isaac Devash (18,000 options) as follows:

a. accelerated vesting and the ability to immediately exercise such options in the event of a change of control; and

b. to the extent vested, allow the options to be exercised during the existing ten (10) year terms of the options in the event of the foregoing directors’ termination of service to the Company without cause.

NOTE 5: SUBSEQUENT EVENTS

a. On October 19, 2021 the company signed a term sheet that includes binding financial terms of contemplated definitive agreements with the Max Planck Society and the University Medical Center Göttingen in Germany, including an exclusive worldwide licensing of novel COVID-19 VHH antibody candidates. The parties intend to enter into a 5-year strategic research collaboration including an option for BiondVax to license innovative VHH antibodies. Frequently referred to as nanobodies, VHH antibodies have the potential to serve as therapeutics and diagnostics for many diseases. The transaction is subject to execution of definitive agreements.

Binding terms of the term sheet, which would be included in the definitive agreements, include upfront, milestone and royalty-based cash and stock payments by BiondVax to MPG and UMG. The parties aim to complete definitive agreements by late January, although there is no guarantee if and when the parties will execute the definitive agreements.

b. The European Investment Bank (EIB) has indicated that it supports BiondVax’s new strategic turnaround plans. The parties are currently in discussions to renegotiate the terms of the EIB’s €24 million loan to BiondVax in a manner that would serve both parties’ long-term interests. BiondVax will update its shareholders regarding terms of such negotiations if and once the parties reach an agreement.

- - - - - - - - - - -

F-13

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Document And Entity Information	9 Months Ended
	Sep. 30, 2021
Document Information Line Items
Entity Registrant Name	BIONDVAX PHARMACEUTICALS LTD.
Document Type	6-K/A
Current Fiscal Year End Date	--12-31
Amendment Flag	true
Amendment Description	Amendment No.1
Entity Central Index Key	0001611747
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

XML

Balance Sheets ₪ in Thousands, $ in Thousands		Sep. 30, 2021 ILS (₪)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 ILS (₪)	Sep. 30, 2020 ILS (₪)
CURRENT ASSETS:
Cash and cash equivalents		₪ 34,672	$ 10,738	₪ 9,421	₪ 24,774
Other receivables		1,426	442	1,204	2,930
Current assets		36,098	11,180	10,625	27,704
LONG-TERM ASSETS:
Property, plant and equipment		38,607	11,956	39,607	39,889
Right-of-use assets		5,874	1,819	6,206	6,433
Other long-term assets		446	138	473	891
Long-term assets		44,927	13,913	46,286	47,213
Total assets		81,025	25,093	56,911	74,917
CURRENT LIABILITIES:
Trade payables		3,313	1,026	1,868	8,213
Operating lease liabilities		777	241	654	653
Loan from others		64,488	19,972	60,421
Other payables		1,693	524	1,246	2,289
Current liabilities		70,271	21,763	64,189	11,155
LONG-TERM LIABILITIES:
Operating lease liabilities		5,905	1,829	6,088	6,268
Loan from others					59,242
Other payables		568	176	1,135
Severance pay liability, net		95	29	95	93
Long-Term Liabilities		6,568	2,034	7,318	65,603
SHAREHOLDERS’ EQUITY:
Ordinary shares of no par value: Authorized: 1,800,000,000 shares at September 30, 2021 (unaudited) and 600,000,000 shares at September 30, 2020 (unaudited) and at December 31, 2020; Issued and outstanding: 573,285,824 shares at September 30, 2021 (unaudited), 460,822,640 shares at September 30, 2020 (unaudited) and 461,285,824 shares at December 31, 2020	[1]
Share premium		358,204	110,933	310,197	308,855
Accumulated deficit		(354,018)	(109,637)	(324,793)	(310,696)
Equity		4,186	1,296	(14,596)	(1,841)
Equity and liabilities		₪ 81,025	$ 25,093	₪ 56,911	₪ 74,917

[1] Represents less than NIS\USD 1.

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Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Statement of financial position [abstract]
Ordinary shares, par value (in Dollars per share)
Ordinary shares, authorized	1,800,000,000	600,000,000	600,000,000
Ordinary shares, issued	573,285,824	461,285,824	460,822,640
Ordinary shares, outstanding	573,285,824	461,285,824	460,822,640

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Statements of Comprehensive Loss ₪ in Thousands, $ in Thousands	3 Months Ended		9 Months Ended			12 Months Ended
	Sep. 30, 2021 ILS (₪) ₪ / shares shares	Sep. 30, 2020 ILS (₪) ₪ / shares shares	Sep. 30, 2021 ILS (₪) ₪ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 ILS (₪) ₪ / shares shares	Dec. 31, 2020 ILS (₪) ₪ / shares shares
Operating expenses:
Research and development, net of participations	₪ 2,024	₪ 12,579	₪ 6,677	$ 2,068	₪ 43,595	₪ 51,463
Marketing, general and administrative	6,201	7,303	17,208	5,329	12,423	16,687
Other income		(75,485)			(75,485)	(75,484)
Total operating expenses (income)	8,225	(55,603)	23,885	7,397	(19,467)	(7,334)
Operating income (loss)	(8,225)	55,603	(23,885)	(7,397)	19,467	7,334
Financial income	1,980		2,802	868	5,034	3,843
Financial expense	(2,801)	(288)	(8,142)	(2,522)	(14,859)	(15,632)
Net Income (loss)	₪ (9,046)	₪ 55,315	₪ (29,225)	$ (9,051)	₪ 9,642	₪ (4,455)
Basic net income (loss) per share (NIS) (in New Shekels per share and Dollars per share) | (per share)	₪ (0.02)	₪ 0.12	₪ (0.05)	$ (0.02)	₪ 0.02	₪ (0.01)
Diluted net income (loss) per share (NIS) (in New Shekels per share and Dollars per share) | (per share)	₪ (0.02)	₪ 0.1	₪ (0.05)	$ (0.02)	₪ 0.02	₪ (0.01)
Weighted average number of shares outstanding used to compute basic and diluted loss per share (in Shares)	573,205,607	461,046,640	559,239,052	559,239,052	437,381,202	443,260,878
Weighted average number of shares outstanding used to compute diluted income (loss) per share (in Shares)	573,205,607	538,495,403	559,239,052	559,239,052	497,489,765	443,260,878

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Statements of Changes in Shareholders’ Equity (Deficiency) ₪ in Thousands, $ in Thousands	Share capital ILS (₪)		Share capital USD ($)	[1]	Share premium ILS (₪)	Share premium USD ($)	Accumulated deficit ILS (₪)	Accumulated deficit USD ($)	ILS (₪)	USD ($)
Balance at Dec. 31, 2019		[1]			₪ 255,285		₪ (320,338)		₪ (65,053)
Total comprehensive loss							9,642		9,642
Exercise of warrants					45,274				45,274
Exercise of options					166				166
Share-based compensation					8,130				8,130
Balance at Sep. 30, 2020		[1]			308,855		(310,696)		(1,841)
Balance at Sep. 30, 2020 | $						$ 95,650		$ (96,220)		$ 570
Balance at Dec. 31, 2019		[1]			255,285		(320,338)		(65,053)
Total comprehensive loss							(4,455)		(4,455)
Exercise of warrants					45,274				45,274
Exercise of options					166				166
Share-based compensation					9,472				9,472
Balance at Dec. 31, 2020		[1]			310,197		(324,793)		(14,596)
Balance at Dec. 31, 2020 | $						95,065		(100,586)		5,521
Balance at Jun. 30, 2020		[1]			304,089		(366,011)		(61,922)
Total comprehensive loss							55,315		55,315
Exercise of warrants					166				166
Share-based compensation					4,600				4,600
Balance at Sep. 30, 2020		[1]			308,855		(310,696)		(1,841)
Balance at Sep. 30, 2020 | $						95,650		(96,220)		570
Balance at Dec. 31, 2020		[1]			310,197		(324,793)		(14,596)
Total comprehensive loss							(29,225)		(29,225)
Issuance of shares, net					41,448				41,448
Share-based compensation					6,559				6,559
Balance at Sep. 30, 2021		[1]			358,204		(354,018)		4,186	1,296
Balance at Sep. 30, 2021		[1]				110,933		(109,637)		1,296
Balance at Jun. 30, 2021		[1]			356,358		(344,972)		11,386
Issuance expenses					(681)				(681)
Total comprehensive loss							(9,046)		(9,046)
Share-based compensation					2,527				2,527
Balance at Sep. 30, 2021		[1]			₪ 358,204		₪ (354,018)		₪ 4,186	1,296
Balance at Sep. 30, 2021		[1]				$ 110,933		$ (109,637)		$ 1,296

[1] Represents less than NIS\USD 1.

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Statements of Cash Flows ₪ in Thousands, $ in Thousands	3 Months Ended		9 Months Ended			12 Months Ended
	Sep. 30, 2021 ILS (₪)	Sep. 30, 2020 ILS (₪)	Sep. 30, 2021 ILS (₪)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 ILS (₪)	Dec. 31, 2020 ILS (₪)
Cash flows from operating activities:
Net income (loss)	₪ (9,046)	₪ 55,315	₪ (29,225)	$ (9,051)	₪ 9,642	₪ (4,455)
Adjustments to profit and loss items:
Depreciation of property, plant and equipment and right-of-use assets	612	626	1,821	564	1,830	2,436
Net financial expenses (income)	(1,803)	285	(2,274)	(704)	13,347	12,940
Capital gain					(160)	(160)
Incease (decrease) in liability with respect to loans from others	240	(62,799)	4,067	1,260	(64,538)	(63,359)
Decrease in liability with respect to government grants		(12,686)			(14,812)	(14,812)
Share-based compensation	2,527	4,600	6,559	2,030	8,130	9,472
Change in employee benefit liabilities, net		1			4	6
Total adjustments to profit and loss	1,576	(69,973)	10,173	3,150	(56,199)	(53,477)
Changes in asset and liability items:
Decrease (increase) in other receivables	1,215	(463)	(252)	(78)	(2,274)	(548)
Increase (decrease) in trade payables	678	4,143	1,445	447	(8,849)	(15,194)
Increase (decrease) in short- and long-term other payables	(614)	681	(121)	(37)	1,086	1,178
Total changes in asset and liability	1,279	4,361	1,072	332	(10,037)	(14,564)
Cash paid and received during the year for:
Interest paid	4	(15)	19	6	(39)	(45)
Interest received					1	2
Total cash paid and received	4	(15)	19	6	(38)	(43)
Net cash flows used in operating activities	(6,187)	(10,312)	(17,961)	(5,563)	(56,632)	(72,539)
Cash Flows from Investing Activities:
Purchase of property and equipment	(4)	(3,348)	(132)	(41)	(6,035)	(6,132)
Proceeds from sale of property and equipment					160	160
Increase (decrease) in other long term assets	(9)		27	8	(381)	37
Net cash used in investing activities	(13)	(3,348)	(105)	(33)	(6,256)	(5,935)
Cash Flows from Financing Activities:
Repayment of operating lease liabilities	(307)	(306)	(930)	(288)	(928)	(1,240)
Proceeds from exercise of options to employees		166			166	166
Proceeds from exercise of warrants to public					14,790	14,790
Proceeds from issuance of shares, net of issuance costs	(681)		41,448	12,836
Net cash provided by (used in) financing activities	(988)	(140)	40,518	12,548	14,028	13,716
Exchange differences on balances of cash and cash equivalents	1,977	(178)	2,799	868	1,167	1,712
Increase (decrease) in cash and cash equivalents	(5,211)	(13,978)	25,251	7,820	(47,693)	(63,046)
Balance of cash and cash equivalents at the beginning of the period	42,506	38,752	9,421	2,918	72,467	72,467
Balance of cash and cash equivalents at the end of the period	34,672	24,774	34,672	10,738	24,774	9,421
Non cash financing activities
Exercise of warrants to the public					₪ 30,484	₪ 30,484

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General

9 Months Ended

Sep. 30, 2021

General [Abstract]

GENERAL

NOTE 1: GENERAL

a. BiondVax Pharmaceuticals Ltd. (“the Company”) is focused on developing and ultimately commercializing products for prevention and treatment of infectious diseases and related illnesses. The Company was incorporated on July 21, 2003 in Israel, and started its activity on March 31, 2005. The Company’s principal executive offices and main laboratory are located at Jerusalem BioPark, 2nd floor, Hadassah Ein Kerem Campus, Jerusalem, Israel, next to Hadassah University Hospitals and Hebrew University’s Medical School.

b. On May 15, 2015, the Company completed a public offering of securities in the United States.

c. On March 28, 2017, the Company received an approval from the Investment Center of the Ministry of Economy and Industry of the State of Israel, for a grant (“the Grant”) representing 20% of a NIS 20,000 budget to be utilized towards the construction of a factory for the production of Phase 3 and commercial batches of the Company’s product. The receipt of the Grant was subject to certain terms and conditions, including those outlined under the Israeli Encouragement of Capital Investment Law,1959. The terms and conditions included, inter alia, the following: (a) at least 24% of the investments in the planned manufacturing facility’s fixed assets would be financed by additional share capital; (b) the Company would maintain its intellectual property and manufacturing facility in Israel for a period of at least 10 years.

To the report date the Investment Center of the Ministry of Economy and Industry of the State of Israel has yet to approve the grant to the company.

d. On June 19, 2017, the Company entered into a Finance Contract with the European Investment bank (EIB) for a total amount of € 20,000 (approximately $ 23,200) and up to 50% of the Company’s expected cost of developing and marketing the Company’s product candidate, M-001. In addition, as repayment features, EIB was entitled to receive the higher between 3% of any M-001 sales revenues for a period of ten years, or realizing a cash-on-cash multiple of 2.8 times.

e. On April 22, 2019, the EIB agreed to expand the 2017 financing agreement to the Company by an additional € 4,000 to a total of € 24,000 (approximately $ 27,600).

f. On October 23, 2020, the Company announced Phase 3 clinical trial results of its M-001 universal vaccine product. The results did not demonstrate a statistically significant difference between the vaccinated group and the placebo group in reduction of flu illness and severity. Therefore, the study failed to meet both the primary and secondary efficacy endpoints. However, the study’s primary safety endpoint was met.

g. On January 26, 2021, the EIB notified us, among other things, that they will not consider the failure of our pivotal phase 3 trial for M-001 to meet the primary and secondary efficacy endpoints as a trigger for prepayment of the loan extended under the Finance Contract.

However, the EIB cautioned us that their letter is not a consent, agreement, amendment or waiver in respect of the terms of the Finance Contract, reserving any other right or remedy the EIB may have now or subsequently. There is no guarantee that the decision by the EIB in their letter will not change at any time and without any notice or that the EIB will not determine that an event of default has occurred under the Finance Contract, which could result in all loans extended under the Finance Contract being accelerated and secured creditor remedies being exercised. If some or all of the loans under the Finance Contract are accelerated by the EIB, or secured creditor remedies are exercised, we expect such events to adversely impact our ability to continue as a going concern.

As of September 30, 2021, the EIB loan balance is $19,971 (approximately NIS 64,488).

h. In the nine months ended September 30, 2021, the Company incurred a loss of NIS 29,225 ($ 9,051) and negative cash flows from operating activities of NIS 17,961 ($ 5,563) and it has an accumulated deficit of NIS 354,018 ($ 109,637) as of that date.

To date the Company has not generated any revenues and will need additional funds to finance its operations in the future.

Furthermore, the Company intends to continue to finance its operating activities by raising capital. There are no assurances that the Company will be successful in obtaining an adequate level of financing needed for its long-term research, development and potential commercialization activities.

If the Company will not have the sufficient liquidity resources, the Company may not be able to continue the development of its prospective products or may be required to implement a cost reduction and may be required to delay part of its development program. The Company’s management and Board of Directors are of the opinion that its current financial resources will be sufficient to continue the operations of the Company for at least the next twelve months.

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Convenience Translation Into U.S. Dollars

9 Months Ended

Sep. 30, 2021

Convenience Translation Into U.S. Dollars [Abstract]

CONVENIENCE TRANSLATION INTO U.S. DOLLARS

NOTE 2:- CONVENIENCE TRANSLATION INTO U.S. DOLLARS

The financial statements as of September 30, 2021 and for the nine months then ended have been translated into dollars using the representative exchange rate as of that date ($ 1 =  NIS 3.229). The translation was made solely for the convenience of the reader. The amounts presented in these financial statements should not be construed to represent amounts receivable or payable in dollars or convertible into dollars, unless otherwise indicated in these statements.

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Significant Accounting Policies

9 Months Ended

Sep. 30, 2021

Disclosure of significant accounting policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 3: SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in a condensed format as of September 30, 2021, and for the three and nine months then ended (“interim financial statements”). These financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2020, and for the year then ended and accompanying notes (“annual financial statements”).

Basis of preparation of the interim financial statements

The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, “Interim Financial Reporting”, and in accordance with the disclosure requirements of Chapter D of the Securities Regulations (Periodic and Immediate Reports), 1970.

The significant accounting policies and methods of computation adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Company’s annual financial statements.

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Major Events During the Period

9 Months Ended

Sep. 30, 2021

Major Events During The Period [Abstract]

MAJOR EVENTS DURING THE PERIOD

NOTE 4: MAJOR EVENTS DURING THE PERIOD

a. On January 21, 2021, the Company announced the appointment of Amir Reichman as its new Chief Executive Officer. Mr. Reichman and Dr. Ron Babecoff, its founder and former CEO, shared duties during a transition period while Mr. Reichman completed his former work obligations. Effective March 2, 2021, Mr. Reichman assumed the CEO position full time and Dr. Babecoff continued as Senior Advisor to the Company.

b. On February 2, 2021, the Company closed an underwritten offering in which it sold 2,434,783 ADSs at a public offering price of $4.95 per ADS. On February 10, 2021, Aegis Capital Corp., the sole bookrunning manager for the underwritten offering, fully exercised its over-allotment option to purchase an additional 365,217 ADSs, bringing total gross proceeds to the Company from the offering including exercise of the over-allotment option of approximately $13,800. The Company received a net sum of $12,836 (approximately NIS 41,448).

c. On April 6, 2021, the Company held an Extraordinary Meeting of Shareholders (the “Meeting”). At the Meeting, among other approved resolutions, the Company approved grants to the board members and CEO:

1. 30,000 RSUs to 6 directors, to vest in equal monthly installments during a period of three (3) years (if they continue to serve as directors) commencing one (1) month following the date of shareholder approval and would become fully vested, in accordance with the terms of the grant, on April 6, 2024. The RSUs would be subject to accelerated vesting in the event of a change of control.

2. Options to purchase 150,000 ADSs of the Company at an exercise price of the greater of (i) $6.95, which is the greater of (x) 130% of the average closing price on Nasdaq during the 30 trading days prior to board approval and (y) 130% of the weighted average closing price on Nasdaq during the 30 calendar days prior to board approval), and (ii) 100% of the weighted average closing price on Nasdaq in the 30 calendar days prior to shareholder approval. The options, which would include the ability to exercise on a cashless basis, would vest in equal monthly installments during a period of three (3) years commencing one (1) month following the date of shareholder approval and would become fully vested, in accordance with the terms of the grant, on April 6, 2024. The options would be subject to accelerated vesting and would become immediately exercisable in the event of a change of control. In addition, the options would have a term of ten (10) years following the date of shareholder approval and, to the extent the options are vested, such vested options would continue to be exercisable during such term in the event of termination of service to the Company without cause.

3. An amendment to the Company’s Articles of Association increasing the registered share capital of the Company by an additional 1,100,000,000 Ordinary Shares (the equivalent of 27.5 million ADSs) such that the total registered share capital of the Company would consist of 1,800,000,000 Ordinary Shares, no par value (the equivalent of 45 million ADSs).

4. The Company will issue to the new CEO 600,000 restricted share units (the “RSUs”) under the Company’s 2018 Israeli Share Option Plan, which will vest over a period of five years, 20% to vest each year on the anniversary date of the commencement date, and would become fully vested, in accordance with the terms of the grant, on March 2, 2026. The ADSs underlying the RSUs may not be sold by Mr. Reichman during the term of his employment.

5. The shareholders approved the amendment to the following options held by directors of the Company, as follows: Mr. Mark Germain (130,710 options), Prof. Avner Rotman (20,000 options), Mr. Adi Raviv (18,000 options), Prof. George H. Lowell (20,000 options), Dr. Morris Laster (18,000 options), Dr. Yael Margolin (18,000 options) and Mr. Isaac Devash (18,000 options) as follows:

a. accelerated vesting and the ability to immediately exercise such options in the event of a change of control; and

b. to the extent vested, allow the options to be exercised during the existing ten (10) year terms of the options in the event of the foregoing directors’ termination of service to the Company without cause.

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Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 5: SUBSEQUENT EVENTS

a. On October 19, 2021 the company signed a term sheet that includes binding financial terms of contemplated definitive agreements with the Max Planck Society and the University Medical Center Göttingen in Germany, including an exclusive worldwide licensing of novel COVID-19 VHH antibody candidates. The parties intend to enter into a 5-year strategic research collaboration including an option for BiondVax to license innovative VHH antibodies. Frequently referred to as nanobodies, VHH antibodies have the potential to serve as therapeutics and diagnostics for many diseases. The transaction is subject to execution of definitive agreements.

Binding terms of the term sheet, which would be included in the definitive agreements, include upfront, milestone and royalty-based cash and stock payments by BiondVax to MPG and UMG. The parties aim to complete definitive agreements by late January, although there is no guarantee if and when the parties will execute the definitive agreements.

b. The European Investment Bank (EIB) has indicated that it supports BiondVax’s new strategic turnaround plans. The parties are currently in discussions to renegotiate the terms of the EIB’s €24 million loan to BiondVax in a manner that would serve both parties’ long-term interests. BiondVax will update its shareholders regarding terms of such negotiations if and once the parties reach an agreement.

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Accounting Policies, by Policy (Policies)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Basis of preparation of the interim financial statements

Basis of preparation of the interim financial statements

The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, “Interim Financial Reporting”, and in accordance with the disclosure requirements of Chapter D of the Securities Regulations (Periodic and Immediate Reports), 1970.

The significant accounting policies and methods of computation adopted in the preparation of the interim financial statements are consistent with those followed in the preparation of the Company’s annual financial statements.

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General (Details) ₪ in Thousands, $ in Thousands	1 Months Ended			9 Months Ended
	Apr. 22, 2019	Jun. 19, 2017	Mar. 28, 2017 ILS (₪)	Sep. 30, 2021 ILS (₪)	Sep. 30, 2021 USD ($)
Disclosure Of Business Combinations Abstract
Percentage of grant			20.00%
Budget utilized towards the construction of factory			₪ 20,000
Terms and conditions for receipt of the grant, description			The receipt of the Grant was subject to certain terms and conditions, including those outlined under the Israeli Encouragement of Capital Investment Law,1959. The terms and conditions included, inter alia, the following: (a) at least 24% of the investments in the planned manufacturing facility’s fixed assets would be financed by additional share capital; (b) the Company would maintain its intellectual property and manufacturing facility in Israel for a period of at least 10 years.
Description of contract agreement		the Company entered into a Finance Contract with the European Investment bank (EIB) for a total amount of € 20,000 (approximately $ 23,200) and up to 50% of the Company’s expected cost of developing and marketing the Company’s product candidate, M-001. In addition, as repayment features, EIB was entitled to receive the higher between 3% of any M-001 sales revenues for a period of ten years, or realizing a cash-on-cash multiple of 2.8 times.
Financing agreement description	the EIB agreed to expand the 2017 financing agreement to the Company by an additional € 4,000 to a total of € 24,000 (approximately $ 27,600).
EIB loan				₪ 64,488	$ 19,971
Description of financial information				In the nine months ended September 30, 2021, the Company incurred a loss of NIS 29,225 ($ 9,051) and negative cash flows from operating activities of NIS 17,961 ($ 5,563) and it has an accumulated deficit of NIS 354,018 ($ 109,637) as of that date.

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Convenience Translation Into U.S. Dollars (Details) - 9 months ended Sep. 30, 2021	$ / shares	₪ / shares
Convenience Translation Into U.S. Dollars [Abstract]
Translation of exchange rate | (per share)	$ 1	₪ 3.229

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Major Events During the Period (Details)	Apr. 06, 2021 USD ($) shares	Feb. 10, 2021 USD ($) shares	Feb. 02, 2021 $ / shares shares	Feb. 10, 2021 ILS (₪)	Feb. 10, 2021 USD ($)
Major Events During the Period (Details) [Line Items]
Net amount				₪ 41,448	$ 12,836
RSUs vested	30,000
Number of directors	6
Vesting period	3 years
Exercise price, description	(i) $6.95, which is the greater of (x) 130% of the average closing price on Nasdaq during the 30 trading days prior to board approval and (y) 130% of the weighted average closing price on Nasdaq during the 30 calendar days prior to board approval), and (ii) 100% of the weighted average closing price on Nasdaq in the 30 calendar days prior to shareholder approval. The options, which would include the ability to exercise on a cashless basis, would vest in equal monthly installments during a period of three (3) years commencing one (1) month following the date of shareholder approval and would become fully vested, in accordance with the terms of the grant, on April 6, 2024. The options would be subject to accelerated vesting and would become immediately exercisable in the event of a change of control. In addition, the options would have a term of ten (10) years following the date of shareholder approval and, to the extent the options are vested, such vested options would continue to be exercisable during such term in the event of termination of service to the Company without cause.
Restricted stock ,description	The Company will issue to the new CEO 600,000 restricted share units (the “RSUs”) under the Company’s 2018 Israeli Share Option Plan, which will vest over a period of five years, 20% to vest each year on the anniversary date of the commencement date, and would become fully vested, in accordance with the terms of the grant, on March 2, 2026. The ADSs underlying the RSUs may not be sold by Mr. Reichman during the term of his employment.
Shareholders, description	Mr. Mark Germain (130,710 options), Prof. Avner Rotman (20,000 options), Mr. Adi Raviv (18,000 options), Prof. George H. Lowell (20,000 options), Dr. Morris Laster (18,000 options), Dr. Yael Margolin (18,000 options) and Mr. Isaac Devash (18,000 options)
Articles of Association [Member]
Major Events During the Period (Details) [Line Items]
Additional shares	1,100,000,000
Foregoing Directors [Member]
Major Events During the Period (Details) [Line Items]
Vesting period	10 years
ADs [Member]
Major Events During the Period (Details) [Line Items]
Sale of stock			2,434,783
Public offering price per share (in Dollars per share) | $ / shares			$ 4.95
Options to purchase	150,000
Share capital equivalent (in Dollars) | $	$ 45,000,000
Ordinary shares	1,800,000,000
ADs [Member] | Articles of Association [Member]
Major Events During the Period (Details) [Line Items]
Share capital equivalent (in Dollars) | $	$ 27,500,000
Over-Allotment Option [Member]
Major Events During the Period (Details) [Line Items]
Additional sale of stock		365,217
Exercise price (in Dollars) | $		$ 13,800

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Subsequent Events (Details) - Subsequent Event [Member] € in Millions	Oct. 19, 2021 EUR (€)
Subsequent Events (Details) [Line Items]
License term	5 years
Loan amount	€ 24