Grant Agreement	6 Months Ended
Jun. 30, 2022
Grant Agreement [Abstract]
Grant Agreement	4. Grant Agreement Bill & Melinda Gates Foundation Grant Agreement In support of the Company’s development of its IVX-411 COVID-19 vaccine for pandemic use, in September 2020, the Company entered into the grant agreement (the “Grant Agreement”) with the Bill & Melinda Gates Foundation (“BMGF”), under which it was awarded a grant totaling up to $10.0 million (the “Grant”). The Grant supported development activities related to IVX-411, including the Company’s regulatory filing preparations and its Phase 1/2 clinical trial of IVX-411. The Grant terminated in accordance with its terms on March 31, 2022. Concurrent with and in connection with the Grant Agreement, the Company entered into a Global Access Commitments Agreement (“GACA”) with BMGF. Under the terms of the GACA, among other things, the Company agreed to make a certain amount of its IVX-411 COVID-19 vaccine for pandemic use available and accessible at affordable pricing to people in certain low- and middle-income countries, if the vaccine was commercialized. Payments received in advance that were related to future performance were deferred and recognized as revenue when the research and development activities were performed. Cash payments received under the Grant Agreement were restricted as to their use until eligible expenditures were incurred. At June 30, 2022, the Company had no restricted cash and deferred revenue, and at December 31, 2021, had $0.6 million of restricted cash and deferred revenue, representing funds received from BMGF and the Company's estimate of costs to be reimbursed and revenue to be recognized, respectively, in the next twelve months under the Grant Agreement. The Company received no funding from BMGF during the three and six months ended June 30, 2022. During the three and six months ended June 30, 2021, the Company received $0 and $2.7 million, respectively, in funding from BMGF. During the three and six months ended June 30, 2022, the Company recognized revenue from the Grant Agreement of $0 and $0.6 million, respectively. During the three and six months ended June 30, 2021, the Company recognized revenue from the Grant Agreement of $1.9 million and $3.9 million, respectively. The Company had received the full $10.0 million in funding under the Grant Agreement as of December 31, 2021, and through June 30, 2022, the Company has recognized $10.0 million in revenue since the inception of the Grant Agreement.

Grant Agreement

6 Months Ended

Jun. 30, 2022

4. Grant Agreement

Bill & Melinda Gates Foundation Grant Agreement

In support of the Company’s development of its IVX-411 COVID-19 vaccine for pandemic use, in September 2020, the Company entered into the grant agreement (the “Grant Agreement”) with the Bill & Melinda Gates Foundation (“BMGF”), under which it was awarded a grant totaling up to $10.0 million (the “Grant”). The Grant supported development activities related to IVX-411, including the Company’s regulatory filing preparations and its Phase 1/2 clinical trial of IVX-411. The Grant terminated in accordance with its terms on March 31, 2022. Concurrent with and in connection with the Grant Agreement, the Company entered into a Global Access Commitments Agreement (“GACA”) with BMGF. Under the terms of the GACA, among other things, the Company agreed to make a certain amount of its IVX-411 COVID-19 vaccine for pandemic use available and accessible at affordable pricing to people in certain low- and middle-income countries, if the vaccine was commercialized.

Payments received in advance that were related to future performance were deferred and recognized as revenue when the research and development activities were performed. Cash payments received under the Grant Agreement were restricted as to their use until eligible expenditures were incurred.

At June 30, 2022, the Company had no restricted cash and deferred revenue, and at December 31, 2021, had $0.6 million of restricted cash and deferred revenue, representing funds received from BMGF and the Company's estimate of costs to be reimbursed and revenue to be recognized, respectively, in the next twelve months under the Grant Agreement.

The Company received no funding from BMGF during the three and six months ended June 30, 2022. During the three and six months ended June 30, 2021, the Company received $0 and $2.7 million, respectively, in funding from BMGF.

During the three and six months ended June 30, 2022, the Company recognized revenue from the Grant Agreement of $0 and $0.6 million, respectively. During the three and six months ended June 30, 2021, the Company recognized revenue from the Grant Agreement of $1.9 million and $3.9 million, respectively. The Company had received the full $10.0 million in funding under the Grant Agreement as of December 31, 2021, and through June 30, 2022, the Company has recognized $10.0 million in revenue since the inception of the Grant Agreement.