0001564590-22-037402 | 10-Q | XBRL Viewer

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Marketable Securities - Additional Information (Detail) - USD ($)	6 Months Ended	9 Months Ended
	Dec. 31, 2021	Sep. 30, 2022
Schedule Of Available For Sale Securities [Line Items]
Unrealized gain on marketable securities	$ 0	$ 1,000
Unrealized loss on marketable securities	104,000	627,000
Net unrealized loss on marketable securities	104,000	626,000
Credit loss recognized	0	0
Prepaids and Other Current Assets
Schedule Of Available For Sale Securities [Line Items]
Accrued interest income	$ 72,000	$ 146,000

Leases - Additional Information (Detail)	Aug. 31, 2021 USD ($)
Leases [Abstract]
Increase in operating lease ROU assets and operating lease liabilities	$ 392,000

Leases - Summary Of Maturities Of The Company's Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Operating Lease Liabilities Payments Due [Abstract]
Remainder of 2022	$ 205
2023	649
2024	314
Total lease payments	1,168
Less imputed interest	(61)
Total operating lease liabilities	$ 1,107	$ 1,638

Retirement Plans - Summary of Eligible Share Award Activity (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Change in classification of deferred compensation share awards	$ (192)
Share-based compensation	5,782	$ 4,585
Non-qualified \| Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Change in classification of deferred compensation share awards	192
Share-based compensation	287
Change in redemption value	(80)
Vesting of share awards held by NDQC	(127)
Ending Balance	$ 272

- Definition

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

Marketable Securities - Summary of Maturities of Debt Securities Available for Sale (Detail) - Contractual Maturities - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Available for sale securities, Due in one year or less, Amortized cost	$ 61,149	$ 29,656
Due after one year through three years	4,048	19,789
Available for sale securities, Due in one year or less, Carrying value	60,559	29,649
Due after one year through three years	$ 4,012	$ 19,692

Share-Based Payment Plans - Summary Of Company Unvested RSUs (Detail)	9 Months Ended
	Sep. 30, 2022 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	297,490
Unvested RSUs granted	334,450
Unvested RSUs vested	(105,034)
Unvested RSUs forfeited	(65,410)
Unvested RSUs ending balance	461,496
Non Options Service Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	114,757
Unvested RSUs granted	334,450
Unvested RSUs vested	(47,507)
Unvested RSUs forfeited	(5,850)
Unvested RSUs ending balance	395,850
Non Option Performance Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	135,093
Unvested RSUs vested	(57,527)
Unvested RSUs forfeited	(11,920)
Unvested RSUs ending balance	65,646
Non Option Market Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs beginning balance	47,640
Unvested RSUs forfeited	(47,640)

Leases - Summary Of Supplemental Cash Flow Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disclosure Of Supplemental Cash Flow Information Related To Operating Leases [Abstract]
Operating cash outflows from operating leases	$ 201	$ 192	$ 598	$ 575

Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2022

Available For Sale Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Values of Debt Securities Available for Sale

The following table summarizes the amortized cost and estimated fair values of debt securities available for sale:

	As of September 30, 2022
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	17,425	$	-	$	-		$	17,425
Current marketable securities:
U.S Treasury securities	$	44,875	$	1	$	(539	)	$	44,337
Commercial paper		11,055		-		-			11,055
Corporate debt securities		3,317		-		(33	)		3,284
U.S Government Agency Obligations		1,902		-		(19	)		1,883
Total current marketable securities	$	61,149	$	1	$	(591	)	$	60,559
Long-term marketable securities:
U.S Treasury securities	$	2,887	$	-	$	(21	)	$	2,866
Corporate debt securities		557		-		(12	)		545
Asset backed securities		604		-		(3	)		601
Total Long-term marketable securities	$	4,048	$	-	$	(36	)	$	4,012

	As of December 31, 2021
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	51,112	$	-	$	-		$	51,112
Current marketable securities:
Commercial paper	$	19,586	$	-	$	-		$	19,586
Corporate debt securities		7,068		-		(7	)		7,061
Asset-backed securities		3,002		-		-			3,002
Total current marketable securities	$	29,656	$	-	$	(7	)	$	29,649
Long-term marketable securities:
U.S Treasury securities	$	18,043	$	-	$	(89	)	$	17,954
Corporate debt securities		1,746		-		(8	)		1,738
Total Long-term marketable securities	$	19,789	$	-	$	(97	)	$	19,692

Summary of Maturities of Debt Securities Available for Sale

The maturities of debt securities available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid.

	As of September 30, 2022				As of December 31, 2021
	Amortized Cost		Carrying Value		Amortized Cost		Carrying Value
Due in one year or less	$	61,149	$	60,559	$	29,656	$	29,649
Due after one year through three years	$	4,048	$	4,012	$	19,789	$	19,692

Summary of Significant Accounting Policies - Summary of Other Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other Receivables Net Current [Abstract]
BARDA procurement and emergency preparedness services	$ 15	$ 9
BARDA expense reimbursements	777	299
Total BARDA receivables	$ 792	$ 308

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	200,000,000	200,000,000
Common stock shares issued	25,030,902	24,925,743
Common stock shares outstanding	25,030,902	24,925,743
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0

Revenues

9 Months Ended

Sep. 30, 2022

Revenue Performance Obligation [Abstract]

Revenues

14. Revenues

Revenues

The Company’s revenue consists of sale of the RECELL System to hospitals or other treatment centers (“commercial customers”) and to BARDA (collectively “customers”), predominately in the United States. In addition, the Company records service revenue for the emergency preparedness services provided to BARDA.

Performance Obligations

For commercial contracts, we identified the hospital or treatment center as the customer in Step 1 of the 5-step model of ASC 606 and have determined a contract exists with those customers. As these contracts typically have a single performance obligation (i.e. product delivery), no allocation of the transaction price is required in Step 4 of the model. Control of the product is transferred to the customer at a point in time, at the point in time at which the goods are either shipped or delivered to our customers’ facilities, depending on the terms of the contract. The transaction price is stated within the contract and is therefore fixed consideration. The transaction price does not include the sales tax that is imposed by governmental authorities.

For the contract with BARDA, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units; and (ii) emergency preparedness services. The Company’s performance obligations are either satisfied at a point in time or over time as services are provided. The product procurement performance obligation is satisfied at a point in time, upon transfer of control of the product. RECELL units that have been delivered to BARDA have a product replacement obligation at no cost to BARDA due to the product’s limited shelf-life. The estimated cost of the expired inventory over the term of the contract is recognized on a per unit basis at the time of delivery. The liability is released upon replacement of the product along with a corresponding reduction to inventory. The Company has estimated deferred cost of approximately $52,000 and $64,000 as of September 30, 2022 and December 31, 2021, respectively, for the rotation cost of the product. Such amounts are recorded in other current liabilities and other long-term liabilities as of September 30, 2022, and December 31, 2021, respectively. The emergency preparedness services performance obligation is satisfied over time. Revenue for the emergency deployment will be recognized on a straight-line basis during the term of the contract as services are consumed over time. Services recognized for the three-months ended September 30, 2022 and 2021 were $93,000 and $92,000, respectively, and are included in sales within the consolidated statements of operations. Services recognized for the nine-months ended September 30, 2022 and 2021 were $279,000 and $246,000, respectively. Contract costs to fulfil the performance obligation are incremental and expected to be recovered are capitalized and amortized on a straight-line basis over the term of the contract. As of September 30, 2022 and December 31, 2021 contract costs of $315,000 and $504,000 are included in other long-term assets, respectively.

Remaining Performance Obligations

Revenues from remaining performance obligations are calculated as the dollar value of the remaining performance obligations on executed contracts. The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) pursuant to the Company’s existing customer agreements is $740,000 and $952,000 as of September 30, 2022 and December 31, 2021, respectively. Approximately $308,000 for September 30, 2022 and $517,000 for December 31, 2021 of the total balance relates to our July 2020 contract with BARDA for the purchase, delivery and storage of RECELL Systems for emergency response preparedness for a period of three years. The Company expects to recognize this amount as services are provided to BARDA. For the remaining balance of $432,000 and $435,000 as of September 30, 2022 and December 31, 2021, respectively, the Company expects to recognize revenue on a straight-line basis over the term of the contract commencing with the generation of commercial sales to COSMOTEC. We are contracted to manage this inventory of product until the federal government requests shipment or at contract termination on December 31, 2023.

Variable Consideration

The Company evaluates its contracts with customers for forms of variable consideration, which may require an adjustment to the transaction price based on their estimated impact. For commercial customers, revenue from the sale of goods is recognized net of volume discounts. The Company uses the expected value method when estimating variable consideration. Revenue is only recognized to the extent that it is probable that a significant reversal will not occur. Variable consideration under the BARDA contract is not material to the consolidated financial statements.

Contract Assets and Contract Liabilities

Contract assets include amounts related to the Company’s contractual right to consideration for both completed and partially completed performance for which the Company does not have the right to payment. As of the period ended September 30, 2022 and December 31, 2021, the Company does not have any contract assets.

Contract liabilities are recorded when the Company receives payment prior to satisfying its obligation to transfer goods to a customer. The Company had $740,000 and $952,000 of contract liabilities as of September 30, 2022 and December 31, 2021, respectively. The balance relates to the unsatisfied performance obligation for emergency preparedness under the BARDA contract and COSMOTEC. The performance obligation will be satisfied, and revenue will be recognized over time over the term of the contract. For the three-months ended September 30, 2022 and 2021, the Company recognized $93,000 and $92,000 of revenue from BARDA and $3,000 and $0 for COSMOTEC of the amounts included in the beginning balance of contract liabilities. For the nine-months ended September 30, 2022, and 2021, the Company recognized $279,000 and $246,000 of revenue from BARDA and $3,000 and $0 for COSMOTEC from amounts included in the beginning balance of contract liabilities.

Cost to Obtain and Fulfill a Contract

Commercial contract fulfillment costs include commissions and shipping expenses. The Company has opted to immediately expense the incremental cost of obtaining a contract when the underlying related asset would have been amortized over one year or less. The Company generally does not incur costs to obtain new contracts.

BARDA Contract Costs

Cost to fulfill the BARDA emergency preparedness performance obligation, which primarily consist of billed costs to BARDA incurred in connection with the emergency deployment services, are incremental and expected to be recovered. Costs are capitalized and amortized on a straight-line basis over the term of the contract. As of September 30, 2022, and December 31, 2021, the Company had $315,000 and $504,000 of contracts costs included in other long-term assets. Amortization expense related to deferred contract costs were $84,000 and $82,000, during the three-months ended September 30, 2022, and 2021, respectively, and are classified as cost of sales on the accompanying consolidated statements of operations. Amortization expense related to deferred contract costs were $253,000 and $211,000, during the nine-months ended September 30, 2022, and 2021, respectively. There was no impairment loss in relation to deferred contract costs during the three-months ended September 30, 2022, and 2021, or the nine-months ended September 30, 2022 and 2021.

Disaggregated Revenue

The Company disaggregates revenue from contracts with customers into geographical regions and by customer type. As noted in the segment footnote, the Company’s business consists of one reporting segment. A reconciliation of disaggregated revenue by geographical region and customer type is provided in Segment Note 11.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2022

Compensation And Retirement Disclosure [Abstract]

Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability

The fair values of the Company’s deferred compensation plan assets and liability are included in the table below. For additional information on the fair value hierarchy and the inputs used to measure fair value, see Note 5, Fair Value Measurements.

	Fair Value as of September 30, 2022								Fair Value as of December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Corporate-owned life insurance policies (1)		-	948			-	948			-	304			-	304
Non-qualified deferred compensation plan liability (2)		-		1,016		-		1,016		-		262		-		262

(1)The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds and are categorized as Level 2.

(2)Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants.

Summary of Eligible Share Award Activity

The following table summarizes the eligible share award activity as of September 30, 2022, and December 31, 2021 (in thousands):

	As of
	September 30, 2022			December 31, 2021
Non-qualified deferred compensation share awards:
Balance at inception/beginning of period		-			-
Change in classification of deferred compensation share awards		192			-
Share-based compensation expense		287			-
Change in redemption value		(80	)		-
Vesting of share awards held by NDQC		(127	)		-
Ending Balance		272			-

Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Summary Of Composition Of Intangible Assets

The composition of intangible assets, net is as follows (in thousands):

			As of September 30, 2022							As of December 31, 2021
	Weighted Average Life		Gross Amount		Accumulated Amortization			Net Carry Amount		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1		2	$	211	$	(210	)	$	1	$	209	$	(182	)	$	27
Patent 2		13		137		(25	)		112		123		(18	)		105
Patent 3		14		192		(37	)		155		192		(25	)		167
Patent 5		19		71		(5	)		66		46		(3	)		43
Patent 6		20		44		(3	)		41		39		(2	)		37
Patent 7		13		2		-			2		2		-			2
Patent 8		19		13		-			13		3		-			3
Patent 10		19		3		-			3		3		-			3
Patent 11		19		6		-			6		6		-			6
Trademarks	Indefinite			50		-			50		50		-			50
Total intangible assets			$	729	$	(280	)	$	449	$	673	$	(230	)	$	443

Summary Of Future Amortization Of Amortizable Intangible Assets Held

The Company expects the future amortization of amortizable intangible assets held at September 30, 2022 to be as follows (in thousands):

	Estimated Amortization Expense
2023		$	33
2024			32
2025			32
2026			32
2027			32
Thereafter			238
Total		$	399

Plant and Equipment - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property Plant And Equipment [Abstract]
Depreciation	$ 130,000	$ 147,000	$ 388,000	$ 429,000

Plant and Equipment

9 Months Ended

Sep. 30, 2022

Property Plant And Equipment [Abstract]

Plant and Equipment

9. Plant and Equipment

The composition of property, plant and equipment, net is as follows (in thousands):

	Useful Lives	As of September 30, 2022			As of December 31, 2021
Computer equipment	3 years	$	734		$	740
Computer software	3 years		871			811
Construction in progress			181			29
Furniture and fixtures	7 years		440			440
Laboratory equipment	5 years		643			566
Leasehold improvements	Lesser of life or lease term		257			242
RECELL Moulds	5 years		129			129
Less: accumulated amortization and depreciation			(2,029	)		(1,695	)
Total plant and equipment, net		$	1,226		$	1,262

Depreciation expense related to plant and equipment for the three-months ended September 30, 2022 and 2021 was $130,000 and $147,000, respectively. Depreciation expense related to plant and equipment for the nine-months ended September 30, 2022 and 2021 was $388,000 and $429,000, respectively.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flow from operating activities:
Net loss	$ (21,312)	$ (16,663)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	438	517
Share-based compensation	5,782	4,585
Non-cash lease expense	515	477
Loss on fixed asset disposal	3	130
Patent impairment loss		19
Remeasurement and foreign currency transaction gain	(121)	(28)
Excess and obsolete inventory related charges	284	288
BARDA deferred costs	(12)	343
Contract cost amortization	253	211
Provision for doubtful accounts	10	21
Amortization of premium of marketable securities	(12)	36
Non-cash changes in the fair value of NQDC plan	(5)
Changes in operating assets and liabilities:
Trade and other receivables	(449)	(1,197)
BARDA receivables	(484)	(163)
Prepaids and other current assets	168	(316)
Inventory	(119)	107
Operating lease liability	(531)	(492)
Corporate-owned life insurance asset	(840)
Other long-term assets	(163)	(763)
Accounts payable and accrued expenses	433	(336)
Accrued wages and fringe benefits	(570)	(635)
Other current liabilities	511	70
Non-qualified deferred compensation plan liability	829
Contract liabilities	(212)	422
Other long-term liabilities	(50)	238
Net cash used in operations	(15,654)	(13,129)
Cash flows from investing activities:
Purchase of marketable securities	(59,408)	(49,550)
Maturities of marketable securities	43,669
Cash paid for property and equipment	(382)	(490)
Cash paid for patent filing fees	(53)	(142)
Net cash used in investing activities	(16,174)	(50,182)
Cash flow from financing activities:
Proceeds from direct placement of common stock		69,106
Issuance cost associated with direct placement		(5,109)
Principal repayment of finance lease		(2)
Proceeds from exercise of stock options	1	66
Net cash provided by financing activities	1	64,061
Effect of foreign exchange rate on cash and restricted cash	(70)	(31)
Net increase/(decrease) in cash and cash equivalents and restricted cash	(31,897)	719
Cash and cash equivalents and restricted cash beginning of the period	55,712	59,966
Cash and cash equivalents and restricted cash end of the period	23,815	60,685
Supplemental Disclosure of Cash Flow Information
Cash paid for income taxes	17	28
Cash paid for interest	10	$ 20
Plant and equipment purchases not yet paid	$ 7

Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

8. Intangible Assets

The composition of intangible assets, net is as follows (in thousands):

			As of September 30, 2022							As of December 31, 2021
	Weighted Average Life		Gross Amount		Accumulated Amortization			Net Carry Amount		Gross Amount		Accumulated Amortization			Net Carry Amount
Patent 1		2	$	211	$	(210	)	$	1	$	209	$	(182	)	$	27
Patent 2		13		137		(25	)		112		123		(18	)		105
Patent 3		14		192		(37	)		155		192		(25	)		167
Patent 5		19		71		(5	)		66		46		(3	)		43
Patent 6		20		44		(3	)		41		39		(2	)		37
Patent 7		13		2		-			2		2		-			2
Patent 8		19		13		-			13		3		-			3
Patent 10		19		3		-			3		3		-			3
Patent 11		19		6		-			6		6		-			6
Trademarks	Indefinite			50		-			50		50		-			50
Total intangible assets			$	729	$	(280	)	$	449	$	673	$	(230	)	$	443

During the three and nine-months ended September 30, 2022, the Company did not identify any events or changes in circumstances that indicated that the carrying value of its intangibles may not be recoverable. As such, there was no impairment of intangibles assets recognized for the three and nine-months ended September 30, 2022. During the three and nine-months ended September 30, 2021, the Company recorded an impairment charge of $19,000 for an abandoned patent. Amortization expense of intangibles included in the consolidated statements of operations was $8,000 and $27,000 for the three-months ended September 30, 2022 and 2021, respectively. Amortization expense of intangibles included in the consolidated statements of operations was $50,000 and $88,000 for the nine-months ended September 30, 2022 and 2021, respectively.

The Company expects the future amortization of amortizable intangible assets held at September 30, 2022 to be as follows (in thousands):

	Estimated Amortization Expense
2023		$	33
2024			32
2025			32
2026			32
2027			32
Thereafter			238
Total		$	399

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information included in this quarterly report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Transition Report on Form 10-KT for the transition period ended December 31, 2021 filed with the SEC on February 28, 2022 (United States) and the Australian Securities Exchange ("ASX") on March 01, 2022 (Australia) (the “Transition Report”).

There have been no changes to the Company’s significant accounting policies as described in the Transition Report on Form 10-KT that have had a material impact on the Company’s consolidated financial statements. See the summary of the Company’s significant accounting policies set forth in the notes to its consolidated financial statements included in the Transition Report.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.

Reclassification of Prior Year Presentation

Certain prior year amounts within other long-term assets and other long-term liabilities have been reclassified to Corporate-owned life insurance asset and Non-qualified deferred compensation plan liability, respectively, in the Consolidated Balance Sheets, for consistency with current period presentation. These reclassifications had no effect on the reported results of operations or financial position.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts (including doubtful accounts, carrying value of long-lived assets, the useful lives of long-lived assets, accounting for marketable securities, income taxes, share-based compensation, and the stand-alone selling price for the BARDA contract) and related disclosures. Estimates have been prepared on the basis of the current and available information. However, actual results could differ from estimated amounts.

Foreign Currency Translation and Foreign Currency Transactions

The financial position and results of operations of the Company’s operating non-U.S. subsidiaries are generally determined using the respective local currency as the functional currency of that subsidiary. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each period end. Income statement accounts are translated at the average rate of exchange prevailing during the period. Adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive gain (loss) in shareholders’ equity. Gains and losses resulting from foreign currency transactions are included in general and administrative expenses and were a gain of $76,000 and $41,000 for the three-months ended September 30, 2022 and 2021, respectively. Foreign currency transactions were a gain of $123,000 and $58,000 for the nine-months ended September 30, 2022 and 2021, respectively.

The Company’s non-operating subsidiaries that use the U.S. dollar as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period and nonmonetary assets and liabilities at historical rates. Gains and losses resulting from these remeasurements and foreign currency transactions are included in general and administrative expenses. During the three-months ended September 30, 2022 and 2021, the Company recorded gains of $6,000 and a loss of $14,000, respectively. The Company recorded losses of $2,000 and $30,000 for the nine-months ended September 30, 2022 and 2021, respectively.

Comprehensive Loss

The components of comprehensive loss consist of net loss, foreign currency translation adjustments from its subsidiaries not using the U.S. dollar as their functional currency and unrealized gains and losses in investments available for sale. The Company did not have reclassifications from other comprehensive loss to net loss during the three and nine-months ended September 30, 2022.

Revenue Recognition

The Company recognizes revenue when its customers obtain control of promised goods or services, in an amount that reflects the consideration which the Company expects to be entitled in exchange for those goods or services.

To determine revenue recognition for arrangements that are within the scope of Accounting Standard Codification (“ASC”) Topic 606, Revenue Recognition, the Company performs the following five steps:

1.	Identify the contract with a customer

2.	Identify the performance obligations

3.	Determine the transaction price

4.	Allocate the transaction price to the performance obligations

5.	Recognize revenue when/as performance obligation(s) are satisfied

In order for an arrangement to be considered a contract, it must be probable that the Company will collect the consideration to which it is entitled for goods or services to be transferred. Once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised with each contract, determines whether those are performance obligations and the related transaction price. The Company then recognizes the sale of goods based on the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied.

The Company’s revenue consists primarily of the sale of the RECELL System to hospitals or other treatment centers and to BARDA (collectively, “customers”), predominately in the United States. The Company evaluated the BARDA contract and concluded that a portion of the arrangement, such as the procurement of the RECELL system and the emergency preparedness, represents a transaction with a customer and as such are in the scope of ASC 606. Amounts received from BARDA for the research and development of the Company’s product are classified as BARDA income in the Consolidated Statements of Operations and are accounted for under IAS 20. For further details refer to BARDA Income and Receivables below.

Revenues for commercial customers (hospitals and treatment centers) are recognized as control of the product is transferred to customers, at an amount that reflects the consideration expected to be received in exchange for the product. Revenues are recognized net of volume discounts. As such, revenue is recognized only to the extent a significant reversal of revenues is not expected to occur in subsequent periods. For the Company’s contracts that have an original duration of one year or less, the Company elected the practical expedient applicable to such contracts and does not consider the time value of money. Further, because of the short duration of these contracts, the Company has not disclosed the transaction price for the remaining performance obligations as of each reporting period or when the Company expects to recognize this revenue. The Company has further applied the practical expedient to exclude sales tax in the transaction price and expense contract fulfilment costs such as commissions and shipping and handling expenses as incurred.

For revenues related to the BARDA contract within the scope of ASC 606, the Company identified two performance obligations: (i) the procurement of 5,614 RECELL units; and (ii) emergency preparedness services. Through this contract the Company promises to procure the product through a vendor management inventory arrangement and to stand ready to provide emergency deployment services related to the product. Emergency preparedness services include procuring necessary storage containers, housing, and maintaining the containers (and product), and providing shipping and handling services in the event of an emergency situation. This stand ready obligation is a series of distinct services that are substantially the same and have the same pattern of transfer to the customer, overtime as services are consumed.

The total transaction price for the portion of the BARDA contract that is within the scope of ASC 606, was determined to be $9.2 million. The transaction price was allocated on a stand-alone selling price basis as follows: $7.6 million to the procurement of the RECELL product, which is classified as Revenues when recognized in the Consolidated Statements of Operations and $1.6 million to the emergency deployment services which is classified as Revenues when recognized in the Consolidated Statements of Operations. The $1.6 million for emergency deployment includes variable consideration which is deemed immaterial to the contract as a whole. The Company estimated the stand-alone selling price of the procurement of the RECELL product based on historical pricing of the Company’s product at the initial execution of the contract. The Company estimated the stand-alone selling price of the emergency deployment services performed based on the Company’s projected cost of providing the services plus an applicable profit margin as denoted in the contract.

The Company’s performance obligations are either satisfied at a point in time or over time as services are provided. The product procurement performance obligation is satisfied at a point in time, upon transfer of control of the product. As such, the related revenue for these performance obligations is recognized at a point in time as revenue within the Company’s Consolidated Statement of Operations. In addition to guidance under ASC 606, the Company recognizes revenue from the sales of RECELL product to BARDA for placement into vaccine stockpiles in accordance with SEC Interpretation, Commission Guidance regarding Accounting for Sale of Vaccines and BioTerror Countermeasures to the Federal Government for Placement into the Pediatric Vaccine Stockpile or the Strategic National Stockpile (SNS). Under this guidance, revenue is recognized when product is placed in the BARDA vendor-managed inventory as control of the product has been transferred to the customer at the time of delivery to the VMI. RECELL units that have been delivered to BARDA have a product replacement obligation at no cost to BARDA due to the product’s limited shelf-life. The estimated cost of the expired inventory over the term of the contract is recognized on a per unit basis at the time of delivery. The liability is released upon replacement of the product along with a corresponding reduction to inventory. The Company has estimated deferred cost of approximately $52,000 and $64,000 as of September 30, 2022 and December 31, 2021, respectively, for the rotation cost of the product. Such amounts are recorded in other current liabilities and other long-term liabilities as of September 30, 2022, and December 31, 2021, respectively. The emergency preparedness services performance obligation is satisfied over time. Revenue for the emergency deployment will be recognized on a straight-line basis during the term of the contract as services are consumed over time. Services recognized are included in sales within the consolidated statements of operations. Contract costs to fulfil the performance obligations are incremental and expected to be recovered are capitalized and amortized on a straight-line basis over the term of the contract. Contract costs are included in Other long-term assets in the Consolidated Balance Sheets.

Contract Liabilities

The Company receives payments from customers based on contractual terms. Trade receivables are recorded when the right to consideration becomes unconditional. The Company satisfies its performance obligation on product sales when the products are shipped or delivered, depending on the terms of the sale. Payment terms on invoiced amounts are typically 30-90 days, and do not include a financing component. Contract liabilities are recorded when the Company receives payment prior to satisfying its obligation to transfer goods to a customer.

Cost of Sales

Cost of sales related to products includes costs to manufacture or purchase, package, and ship the Company’s products. Costs also include relevant production overhead and depreciation and amortization. These costs are recognized when control of the product is transferred to the customer and revenue is recognized.

Income Taxes

Income taxes are accounted for using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that a portion of the deferred tax asset will not be realized. We recognize interest and penalties related to unrecognized tax benefits on the income tax expense line in the accompanying consolidated statement of operations. Accrued interest and penalties are included on the related tax liability line in the Consolidated Balance Sheets.

The Company reviews its uncertain tax positions regularly. An uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed return or planned to be taken in a future tax return or claim that has not been reflected in measuring income tax expense for financial reporting purposes. The Company recognizes the tax benefit from an uncertain tax position when it is more-likely-than-not that the position will be sustained upon examination on the basis of the technical merits or the statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired.

Cash and Cash Equivalents

Consists of cash held at deposit institutions and cash equivalents. Cash equivalents consist of short-term highly liquid investments with original maturities of three-months or less from the date of purchase and consist primarily of money market funds. The Company holds cash at deposit institutions in the amount of $6.2 million and $4.4 million of which $296,000 and $203,000 is denominated in foreign currencies in foreign institutions as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, the Company held cash equivalents in the amount of $17.4 million and $51.1 million, respectively.

Restricted Cash

Pursuant to a contractual agreement to maintain the business credit card, the Company must maintain restricted cash deposits which amounted to approximately $202,000 and $201,000 as of September 30, 2022 and December 31, 2021, respectively.

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, trade receivables, BARDA receivables and other receivables. As of September 30, 2022 and December 31, 2021, substantially all of the Company’s cash was deposited in accounts at financial institutions, and amounts may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which its cash is held.

As of September 30, 2022, no single commercial customer accounted for more than 10% of total net accounts receivable. As of December 31, 2021, one commercial customer accounted for approximately 10% of net accounts receivable. For the three-months ended September 30, 2022 and 2021, no single customer accounted for more than 10% of revenues. For the nine-months ended September 30, 2022, one customer accounted for more than 10% of total revenue. For the nine-months ended September 30, 2021, no single customer accounted for more than 10% of revenues. BARDA revenue for emergency deployment accounted for approximately 1% and 1% of total revenues for the three-months ended September 30, 2022 and 2021, respectively. For the nine-months ended

September 30, 2022 and 2021, BARDA revenue for emergency deployment accounted for approximately 1% and 30% of total revenues, respectively. BARDA receivables for emergency preparedness services accounted for 2% and 3% of total BARDA receivables as of September 30, 2022 and December 31, 2021, respectively. See table below for breakdown of BARDA receivables (in thousands).

	As of September 30, 2022		As of December 31, 2021
BARDA procurement and emergency preparedness services	$	15	$	9
BARDA expense reimbursements		777		299
Total BARDA receivables	$	792	$	308

Marketable Securities

We classify all highly liquid investments with original maturities of three months or less from the date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months as marketable securities. The Company classifies marketable securities as short-term when they have remaining contractual maturities of one year or less from the balance sheet date, and as long-term when the investments have remaining contractual maturities of more than one year from the balance sheet date. Classification is determined at the time of purchase and re-evaluated each balance sheet date. Short-term marketable securities represent investment of cash available for current operations. We account for our marketable securities as available-for-sale securities.

All marketable securities, which consist of corporate debt securities, U.S government agency obligations, U.S treasury and commercial paper are denominated in the U.S. dollars, have been classified as “available for sale”, and are carried at fair value. Unrealized gains and losses, net of any related tax effects, are excluded from earnings and are included in other comprehensive income (loss) and reported as a separate component of shareholders equity until realized. Realized gains and losses on marketable securities are included in other income in the accompanying consolidated statements of operations. The cost of any marketable securities sold is based on the specific identification method. The amortized cost of marketable securities is adjusted for amortization of premiums and accretion of discounts to maturity. Interest on marketable securities is included in other income. In accordance with the Company’s investment policy, management invests to diversify credit risk and only invests in securities with high credit quality, including U.S. government securities, and the maximum final maturity from the date of purchase is thirty-seven months.

If necessary, the Company will recognize an allowance for credit losses on available-for-sale debt securities on an individual basis, and will no longer consider other than-temporary impairment or immediately reduce the cost basis of the investment provided that it is more likely than not that the security will be held to recovery or maturity. Further, the Company will recognize any improvements in estimated credit losses on available-for-sale debt securities immediately in earnings and reduce the existing allowance for credit losses. The Company will disaggregate its available-for-sale debt securities into the following categories: commercial paper, corporate debt, government and agency securities, asset backed securities and money market funds. The Company’s corporate bonds are comprised of predominantly high-grade corporate bonds while its government and agency securities are U.S. treasury bonds, and U.S. agency bonds. The Company has analyzed both corporate bonds and government and agency securities and identified that both types of securities have similar risk characteristics in that they are traded infrequently and have contractual interest rates and maturity dates.

To evaluate for impairment, management reviews credit rating changes, securities trends, interest rate movements and unrealized loss at the security level of the Company’s available for sale debt securities. If any of these give rise to a potential credit concern, the Company performs a discounted cash flow analysis to determine the credit portion of the impairment. The discounted cash flow analysis will be performed either internally or through the assistance of a qualified third party. Once the credit component of the impairment is determined, the Company will record the impaired amount as an allowance to the available-for-sale debt securities balance and as a charge to other income in the accompanying consolidated statements of operations, not to exceed the amount of the unrealized loss. The Company assesses expected credit losses at the end of each reporting period and adjusts the allowance through other income.

BARDA Income and Receivables

The AVITA Group was awarded a Biomedical Advance Research and Development Authority (“BARDA”) contract in September 2015. The contract with BARDA expires December 31, 2023. Under this arrangement BARDA supported the Company’s research and development for the Company’s product, including the U.S. clinical regulatory program targeted towards PMA, the Company's compassionate use program, clinical and health economics research. Currently, the BARDA contract is supporting the Company’s clinical trial in soft-tissue reconstruction. Consideration received under the BARDA arrangement is earned and recognized under a cost-plus-fixed-fee arrangement in which the Company is reimbursed for direct costs incurred plus allowable indirect costs and a fixed-fee earned. Billings under the contracts are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, general and administrative expenses and a fixed fee.

The Company has concluded that grants under the BARDA arrangement are not within the scope of ASC 606, as it does not meet the definition of a contract with a “customer.” The Company has further concluded that Subtopic 958-605, Not-for-Profit-Entities-Revenue Recognition also does not apply, as the Company is a business entity and the payments are with governmental agencies or units. With respect to the BARDA arrangement, we considered the guidance in IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, by analogy. BARDA income and related receivables are recognized when there is reasonable assurance that the amount will be received, and all attaching conditions have been complied with. When the payment relates to an expense item, the amount received is recognized as income over the period when the expense was incurred.

Leases

The Company has operating leases for corporate office space, manufacturing and a warehouse facility. The Company’s operating leases have remaining lease terms of one year to two years, some of which include options to renew the lease. At contract inception, the Company determines whether the contract is a lease or contains a lease. A contract contains a lease if the Company is both able to identify an asset and can conclude it has the right to control the identified asset for a period of time. Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets.

Right-of-use (“ROU”) assets represent the Company’s right to control an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an explicit rate, the Company used its incremental borrowing rate (“IBR”) based on the information available at the commencement date in determining the discount rate used to present value lease payments. In determining the IBR, the Company considered its credit rating and current market interest rates. The IBR used approximates the interest that the Company would be required to pay for a collateralized loan over a similar term. The Company’s leases typically do not include any residual value guarantees or asset retirement obligations.

The Company’s lease terms are only for periods in which it has enforceable rights. A lease is no longer enforceable when both the lessee and the lessor each have the right to terminate the lease without permission from the other party with no more than an insignificant penalty. The Company has options to renew some of these leases for three years after their expiration. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis. Lease expense is recognized on a straight-line basis over the lease term and is primarily included in general and administrative expenses in the accompanying consolidated statements of operations.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all underlying asset classes. Some leases require variable payments for common area maintenance, property taxes, parking, insurance and other variable costs. The variable portion of lease payments is not included in operating lease assets or liabilities. Variable lease costs are expensed when incurred.

Share-based Compensation

Share-based compensation

The Company records compensation expense for stock options based on the fair market value of the awards on the date of grant. The fair value of share-based compensation awards is amortized over the vesting period of the award. Compensation expense for performance-based awards is evaluated based on the number of shares ultimately expected to vest, estimated at each grant date based on management’s expectations regarding the relevant performance criteria, if any. The Black-Scholes option pricing model and Monte Carlo Simulation were used to estimate the fair value of the time-based and performance-based options, respectively. To estimate the grant date fair value of the performance vesting employee stock options, we utilized a Monte Carlo simulation-based approach to capture the holder’s expected post-vesting exercise behavior. Specifically, we simulated the Company’s stock price from the valuation date to the maturity of the options on a daily basis using Geometric Brownian Motion, whereby the options are assumed to be early exercised if the simulated stock price exceeded a certain exercise threshold estimated based on empirical research. Under ASU 2016-09, Compensation – Stock Compensation (“ASC 718”) Improvements to Employee Share-Based Payment Accounting, the Company elected to account for forfeitures as they occur. The following assumptions were used in the valuation of stock options.

•

Expected volatility – determined using the average of the historical volatility using daily intervals over the expected term and the derived volatility using the longest term available of 12 months.

•

Expected dividends - based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future

•

Expected term – the expected term of the Company’s stock options for tenure only vesting has been determined utilizing the “simplified” method as described in the SEC’s Staff Accounting Bulletin No. 107 relating to share-based compensation. The simplified method was chosen because the Company has limited historical option exercise experience due to its short

operating history of awards granted, with the first plan being established in 2016 which was primarily used for executive awards. Further, the Company does not have sufficient history of exercises in the U.S. market given the AVITA Group's recent redomiciliation from Australia to the United States in 2020. The initial term input of options with a performance condition was set to the contractual term of 10 years for the modeling process, while the expected term within each simulation path was determined by the early exercise mechanism discussed above within the Monte Carlo simulation model.

•

Risk-free interest rate – the risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for a period approximately equal to the expected term of the award.

Segment Reporting

Operating segments are defined as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company’s chief operating decision-maker is its Chief Executive Officer. To date, the Company has viewed its operations and manages its business as one segment.

Non-Qualified Deferred Compensation Plan Liability and Corporate-Owned Life Insurance Asset

The Company’s non-qualified deferred compensation plan (the "NQDC plan"), which became effective in October 2021, allows highly compensated key employees to elect to defer a portion of their salary, bonus, commissions and RSU awards to later years. Management determined that the cash deferrals under the NQDC plan shall be accounted for similarly to a defined benefit plan under ASC 715, Compensation – Retirement Benefits, and should follow accounting treatment that is similar to a cash balance plan. Management determined that the employee portion and employer portion of the deferred compensation should be recognized as a compensation expense with a corresponding credit to deferred compensation liability. The matching contribution will be accrued over the vesting period of two years with 25% vesting in the first year and 75% vesting in the second year. Employees aged 55 or older immediately vest in employer matching contributions. The change in the liability between each reporting period is accounted for as compensation expense with a corresponding adjustment to deferred compensation liability. Upon distribution, the Company will record the distribution as a decrease to compensation liability with a corresponding credit to cash. The Company funds the NQDC plan through a Corporate-Owned Life Insurance (“COLI”). Per the ASC 325-30-25-1A, Investments – Other, COLI is recorded as an asset in on the Consolidated Balance Sheets as it does not meet the definition of a plan asset under ASC 715. The Company invests in COLI policies relating to its deferred compensation plan. Investments in COLI policies are recorded at their cash surrender values as of each balance sheet date. Changes in the cash surrender value during the period are recorded as a gain or loss in the statements of operations in Other income.

Rabbi Trust

During April 2022, we established a rabbi trust for a select group of participants in which share awards granted under the 2020 Omnibus Incentive Plan (“2020 Plan”) and deferred under the NQDC plan may be deposited. In addition to the deferral of shares, the rabbi trust holds the assets in the COLI for the NQDC plan. The rabbi trust is an irrevocable trust and no portion of the trust fund may be used for any purpose other than the delivery of those assets to the participants. The assets held in the rabbi trust are subject to the claims of our general creditors in the event of bankruptcy or insolvency. The value of the assets of the rabbi trust is consolidated into our financial statements.

The NQDC plan permits diversification of vested shares (common stock) into other equity securities subject to a six-month and one day holding period subsequent to vesting. Per ASC 710-10-25-15, accounting for deferred common stock will be under plan type C or D. Accounting will depend on whether or not the employee has diversified the common stock. Under Plan type C, diversification is permitted but the employee has not diversified. Under Plan type D, diversification is permitted and the employee has diversified.

For common stock that have not been diversified, the employer stock held in the rabbi trust is classified in a manner similar to treasury stock and presented separately on the Consolidated Balance Sheets as Company common stock held by the non-qualified deferred compensation plan. Common stock will be recorded at fair value of the stock at the time it vested, subsequent changes in the value of the common stock will not be recognized. The deferred compensation obligation is measured independently at fair value of the common stock with a corresponding charge or credit to compensation cost. Fair value is determined as the product of the common stock and the closing price of the stock each reporting period.

Under plan type D, assets held by the rabbi trust are subject to applicable GAAP. As diversified common stock will be invested in mutual funds, assets held by the rabbi trust will be subject to accounting in ASC 321 - Investments - Equity Securities. The deferred compensation obligation is measured independently at fair value of the underlying assets. As of September 30, 2022, deferred common stock has not been diversified.

Non-qualified Deferred Compensation Share Awards

Non-qualified deferred compensation share awards

In accordance with ASC 718, Compensation — Stock Compensation, the deferred RSU awards under the NQDC plan are classified as an equity instrument and changes in fair value of the amount owed to the participant are not recognized. As the plan permits diversification, presentation outside of permanent equity in accordance with ASR 268, Redeemable Preferred Stock is appropriate. The redemption amounts are based on the vested percentage and are recorded outside of equity as non-qualified deferred compensation share awards on the Consolidated Balance Sheets. Deferred awards will be presented outside of permanent equity until the awards are vested.

As of September 30, 2022, a total of 253,048 shares awards have been deferred with a redemption value of $272,000 and are recorded outside of equity as Non-qualified deferred compensation share awards. During the three-months ended September 30, 2022, 2022, 17,927 shares vested and were contributed to the rabbi trust at the vested value of $127,000. For further details refer to Note 18.

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Summary Of Lease Cost

The following table sets forth the Company’s operating lease expenses which are included in general and administrative expenses in the consolidated statements of operations (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Operating lease cost	$	194	$	188	$	582	$	560
Variable lease cost		13		12		38		36
Total lease cost	$	207	$	200	$	620	$	596

Summary Of Supplemental Cash Flow Information Related To Operating Leases

Supplemental cash flow information related to operating leases for the three and nine-months ended September 30, 2022 and 2021 was as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	201	$	192	$	598	$	575

Summary Of Supplemental Balance Sheet Information Related To Operating Leases

Supplemental balance sheet information, as of September 30, 2022 and December 31, 2021 related to operating leases was as follows (in thousands):

	As of September 30, 2022			As of December 31, 2021
Reported as:
Operating lease right-of-use assets	$	1,029		$	1,544
Total right-of-use assets	$	1,029		$	1,544

Other current liabilities:
Operating lease liabilities, short-term	$	702		$	720
Operating lease liabilities, long term		405			918
Total operating lease liabilities	$	1,107		$	1,638
Operating lease weighted average remaining lease term (years)		1.64			2.30
Operating lease weighted average discount rate		6.64	%		6.51	%

Summary Of Maturities Of The Company's Operating Lease Liabilities

As of September 30, 2022, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
Remainder of 2022	$	205
2023		649
2024		314
Total lease payments		1,168
Less imputed interest		(61	)
Total operating lease liabilities	$	1,107

Leases - Summary Of Supplemental Balance Sheet Information Related To Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disclosure Of Supplemental Balance Sheet Information Related To Operating Leases [Abstract]
Operating lease right-of-use assets	$ 1,029	$ 1,544
Total right-of-use assets	1,029	1,544
Operating lease liabilities, short-term	$ 702	$ 720
Operating Lease Liability Current Statement Of Financial Position Extensible List	Other current liabilities	Other current liabilities
Operating lease liabilities, long-term	$ 405	$ 918
Total operating lease liabilities	$ 1,107	$ 1,638
Operating lease weighted average remaining lease term (years)	1 year 7 months 20 days	2 years 3 months 18 days
Operating lease weighted average discount rate	6.64%	6.51%

Retirement Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay	6.00%
Employers contribution to retirement plan	$ 312,000	$ 183,000	$ 783,000	$ 606,000
Number of shares awards deferred, unvested			253,048
Deferred compensation arrangement with individual, shares vested	17,927		17,927
Deferred compensation arrangement with individual, vested redemption value			$ 127,000
Non-qualified Deferred Compensation Plans
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting period			2 years
Employer contributions to deferred compensation plan	$ 75,000	$ 0	$ 197,000	$ 0
Deferred compensation plan liability	$ 1,000,000		$ 1,000,000		$ 262,000
Non-qualified Deferred Compensation Plans \| Vesting on Year One
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage			25.00%
Non-qualified Deferred Compensation Plans \| Vesting on Year Two
Defined Benefit Plan Disclosure [Line Items]
Employer matching contributions, Vesting percentage			75.00%
Non-qualified Deferred Compensation Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay			4.00%
Non-qualified Deferred Compensation Plans \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employers matching contribution percentage of employees pay			6.00%

Net Loss per Share - Summary of Reconciliation of The Basic And Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Loss	$ (5,588)	$ (5,948)	$ (21,312)	$ (16,663)
Weighted-average common shares – outstanding, basic	25,006,995	24,905,403	24,972,331	24,174,811
Weighted-average common shares – outstanding, diluted	25,006,995	24,905,403	24,972,331	24,174,811
Net loss per common share, basic	$ (0.22)	$ (0.24)	$ (0.85)	$ (0.69)
Net loss per common share, diluted	$ (0.22)	$ (0.24)	$ (0.85)	$ (0.69)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Share-Based Payment Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 01, 2022	Dec. 22, 2021	Sep. 30, 2022	Nov. 30, 2019	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Oct. 14, 2021	Nov. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation					$ 1,400	$ 1,800	$ 5,800	$ 4,600
Income tax benefit (expense)					$ 0	$ 0	$ 0	$ 0
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period							334,450
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested							105,034
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number			461,496		461,496		461,496		297,490
Milestone performance awards to CEO			2,132,195		2,132,195		2,132,195		1,756,720
Restricted Stock Units (RSUs) \| Patient Visit For Treatment And Regulatory Approval
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number			0		0		0
Performance Based Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO			593,094		593,094		593,094		599,994
Non Option Performance Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested							57,527
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number			65,646		65,646		65,646		135,093
Market Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO									27,600
Non Option Market Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number									47,640
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement contractual term of awards							10 years
Share based compensation by share based payment arrangement vesting period							4 years
2020 Plan \| Vesting Period One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage							25.00%
2020 Plan \| Vesting Period Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage							25.00%
2020 Plan \| Vesting Period Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage							25.00%
2020 Plan \| Vesting Period Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage							25.00%
2020 Plan \| Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement number of shares authorised for issuance											1,750,000
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reverse stock split							reverse stock split of 100:1
Employee Share Plan And Incentive Option Plan Two Thousand And Sixteen \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement contractual term of awards							10 years
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period				395,542
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Service Based Milestone
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period			3 years
Tenure RSU awards to CEO			142,521		142,521		142,521
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested	47,507
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number			0		0		0
Long Term Incentive Plan \| Restricted Stock Units (RSUs) \| Chief Executive Officer \| Patient Visit For Treatment And Regulatory Approval
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO on Nov 2019			253,021		253,021		253,021
2021 AGM Awards \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage		25.00%
Aggregate number of options and RSU		150,480
Tenure awards to CEO		37,600
Tenure option awards to CEO		13,800
2021 AGM Awards \| Restricted Stock Units (RSUs) \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tenure RSU awards to CEO		23,800
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		37,640
Milestone performance awards to CEO		13,800
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		9,410
Milestone performance awards to CEO		3,450
Milestone performance awards to CEO, vested							3,450
Description of the milestone to be achieved for vesting of restricted stock awards		9,410 awards (5,960 RSUs and 3,450 options) - Achieve Centers for Medicare and Medicaid Services reimbursement for out-patient transitional pass-through payment code (“TPT”) by June30, 2022. This performance condition was met during the quarter ended March 31, 2022 resulting in the 5,960 RSUs vesting and 5,960 shares of common stock being issued in respect of those vested RSUs, as well as the 3,450 options vesting (although those vested options have not been exercised by the Former CEO as at the date of this Form 10-Q).
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		9,410
Milestone performance awards to CEO		3,450
Description of the milestone to be achieved for vesting of restricted stock awards		9,410 awards (5,960 RSUs and 3,450 options) - Achieve Japanese approval from Pharmaceuticals and Medical Device Agency (“PMDA”) and reimbursement code by September 30, 2022. This performance condition was met during the quarter ended September 30, 2022, resulting in the RSUs vesting and 5,960 shares of common stock being issued in respect of those vested RSUs, as well as the 3,450 options vesting (although those vested options have not been exercised by the Former CEO as at the date of this Form 10-Q).
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		9,410
Milestone performance awards to CEO		3,450
Description of the milestone to be achieved for vesting of restricted stock awards		9,410 awards (5,960 RSUs and 3,450 options) - Achieve profitability of the Company’s Burns business for two consecutive quarters by March 31, 2023. These awards were unvested as at the date of termination of the Former CEO's employment.
2021 AGM Awards \| Performance Based Share Options \| Chief Executive Officer \| Share Based Compensation Award Tranche Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		9,410
Milestone performance awards to CEO		3,450
Description of the milestone to be achieved for vesting of restricted stock awards		9,410 awards (5,960 RSUs and 3,450 options) - Achieve US FDA approval of vitiligo indication by December 31, 2023. These awards were unvested as at the date of termination of the Former CEO's employment.
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		23,840
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested							5,960
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		5,960
2021 AGM Awards \| Non Option Performance Based Restricted Stock Units \| Chief Executive Officer \| Share Based Compensation Award Tranche Four
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		5,960
2021 AGM Awards \| Market Awards \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		75,240
Milestone performance awards to CEO		27,600
2021 AGM Awards \| Market Awards \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		37,620
Milestone performance awards to CEO		13,800
Description of the milestone to be achieved for vesting of restricted stock awards		37,620 (23,820 RSUs and 13,800 options) - Achieve a doubling based on a 10-day volume-weighted average price (“VWAP”) of the Company’s share price as of the date of the 2021 Annual Meeting (being December 14, 2021) by September 30, 2023. The target share price is $25.74. These awards were unvested as at the date of termination of the Former CEO's employment.
Targeted share Price		$ 25.74
2021 AGM Awards \| Market Awards \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Milestone performance awards to CEO		37,620
Milestone performance awards to CEO		13,800
Description of the milestone to be achieved for vesting of restricted stock awards		37,620 (23,820 RSUs and 13,800 options) - Achieve a market capitalization of the Company of greater than or equal to US$1.25 billion (as compared to market capitalization of ~US$435M as of October 14, 2021) and maintain that market capitalization for at least 30 consecutive calendar days on or before December 31, 2024.
Market capitalization		$ 1,250,000								$ 435,000
2021 AGM Awards \| Non Option Market Condition \| Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		47,640
2021 AGM Awards \| Non Option Market Condition \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		23,820
2021 AGM Awards \| Non Option Market Condition \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options outstanding number		23,820
Two Thousand And Twenty One A G M Plan \| Board of Director \| Service Period Milestone
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting period		12 months
Aggregate number of options and RSU		68,600
Tenure awards to Board of Director		41,400
Tenure option awards to Board of Director		15,300
Tenure awards granted to Board of Director		6,900
Tenure option awards granted to Board of Director		2,550
Two Thousand And Twenty One A G M Plan \| Board of Director \| Vesting Percentage Milestone
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation by share based payment arrangement vesting percentage		33.33%
Tenure awards to Board of Director		27,200
Tenure option awards to Board of Director		9,850
Tenure awards granted to Board of Director		13,600
Tenure option awards granted to Board of Director		4,925
Two Thousand And Twenty One A G M Plan \| Restricted Stock Units (RSUs) \| Board of Director \| Service Period Milestone
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tenure RSU awards to Board of Director		26,100
Tenure RSU awards granted to Board of Director		4,350
Two Thousand And Twenty One A G M Plan \| Restricted Stock Units (RSUs) \| Board of Director \| Vesting Percentage Milestone
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tenure RSU awards to Board of Director		17,350
Tenure RSU awards granted to Board of Director		8,675

Inventory - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
Inventory - Additional Information (Detail) - USD ($)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory impairments	$ 125,000	$ 46,000	$ 284,000	$ 288,000

Intangible Assets - Summary Of Composition Of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 729	$ 673
Finite Lived Intangible Assets, Accumulated Amortization	(280)	(230)
Finite Lived Intangible Assets, Net Carrying Amount	399
Intangible Assets, Net (Excluding Goodwill)	449	443
Trademarks
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 50	50
Patent 1
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years
Finite Lived Intangible Assets, Gross Amount	$ 211	209
Finite Lived Intangible Assets, Accumulated Amortization	(210)	(182)
Finite Lived Intangible Assets, Net Carrying Amount	$ 1	27
Patent 2
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite Lived Intangible Assets, Gross Amount	$ 137	123
Finite Lived Intangible Assets, Accumulated Amortization	(25)	(18)
Finite Lived Intangible Assets, Net Carrying Amount	$ 112	105
Patent 3
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years
Finite Lived Intangible Assets, Gross Amount	$ 192	192
Finite Lived Intangible Assets, Accumulated Amortization	(37)	(25)
Finite Lived Intangible Assets, Net Carrying Amount	$ 155	167
Patent 5
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 71	46
Finite Lived Intangible Assets, Accumulated Amortization	(5)	(3)
Finite Lived Intangible Assets, Net Carrying Amount	$ 66	43
Patent 6
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Finite Lived Intangible Assets, Gross Amount	$ 44	39
Finite Lived Intangible Assets, Accumulated Amortization	(3)	(2)
Finite Lived Intangible Assets, Net Carrying Amount	$ 41	37
Patent 7
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years
Finite Lived Intangible Assets, Gross Amount	$ 2	2
Finite Lived Intangible Assets, Net Carrying Amount	$ 2	2
Patent 8
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 13	3
Finite Lived Intangible Assets, Net Carrying Amount	$ 13	3
Patent 10
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 3	3
Finite Lived Intangible Assets, Net Carrying Amount	$ 3	3
Patent 11
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	19 years
Finite Lived Intangible Assets, Gross Amount	$ 6	6
Finite Lived Intangible Assets, Net Carrying Amount	$ 6	$ 6

Other Current and Long-Term Assets and Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other Liabilities Current [Abstract]
Operating lease liability	$ 702	$ 720
Unsettled investment trade payable	480
Other current liabilities	437	355
Total other current liabilities	$ 1,619	$ 1,075

Reporting Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule Of Revenue and Cost Of Sales By Region and Customer Type

Revenue by region for the three and nine-months ended September 30, 2022, and 2021 were as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Revenue:
United States	$	8,996	$	6,924	$	24,672	$	25,888
Foreign:
Australia		57		66		173		141
United Kingdom		39		30		121		60
Total	$	9,092	$	7,020	$	24,966	$	26,089

Revenue and cost of sales by customer type for the three and nine-months ended September 30, 2022, and 2021 were as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Revenue:
Commercial sales	$	8,999	$	6,928	$	24,687	$	18,249
BARDA:
Product sales		-		-		-		7,594
Services for emergency preparedness		93		92		279		246
Total	$	9,092	$	7,020	$	24,966	$	26,089

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022			2021
Cost of sales
Commercial cost	$	1,446	$	1,006	$	4,453		$	3,187
BARDA:
Product cost		-		-		(12	)		1,889
Emergency preparedness service cost		84		82		253			211
Total	$	1,530	$	1,088	$	4,694		$	5,287

Reporting Segment and Geographic Information - Schedule Of Revenue and Cost Of Sales By Region and Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Revenues	$ 9,092	$ 7,020	$ 24,966	$ 26,089
Cost of sales
Cost of sales	1,530	1,088	4,694	5,287
BARDA deferred costs			(12)	343
Commercial Sales
Revenue:
Revenues	8,999	6,928	24,687	18,249
Product Sales
Revenue:
Revenues				7,594
Services For Emergency Preparedness
Revenue:
Revenues	93	92	279	246
Commercial Cost
Cost of sales
Cost of sales	1,446	1,006	4,453	3,187
Product Cost
Cost of sales
BARDA deferred costs			(12)	1,889
Emergency Preparedness Service Cost
Cost of sales
BARDA deferred costs	84	82	253	211
United States
Revenue:
Revenues	8,996	6,924	24,672	25,888
Foreign \| Australia
Revenue:
Revenues	57	66	173	141
Foreign \| United Kingdom
Revenue:
Revenues	$ 39	$ 30	$ 121	$ 60

Fair Value Measurements - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	$ 60,559	$ 29,649
Total long-term marketable securities	4,012	19,692
Fair Value on Recurring Basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	17,425	51,112
Total short-term marketable securities	60,559	29,649
Total long-term marketable securities	4,012	19,692
Total marketable securities and cash equivalents	81,996	100,453
Fair Value on Recurring Basis \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	17,425	51,112
Total marketable securities and cash equivalents	17,425	51,112
Fair Value on Recurring Basis \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	60,559	29,649
Total long-term marketable securities	4,012	19,692
Total marketable securities and cash equivalents	64,571	49,341
Fair Value on Recurring Basis \| Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	17,425	51,112
Fair Value on Recurring Basis \| Money Market Funds \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total cash equivalents	17,425	51,112
Fair Value on Recurring Basis \| Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	11,055	19,586
Fair Value on Recurring Basis \| Commercial Paper \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	11,055	19,586
Fair Value on Recurring Basis \| Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	3,284	7,061
Total long-term marketable securities	545	1,738
Fair Value on Recurring Basis \| Corporate Debt Securities \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	3,284	7,061
Total long-term marketable securities	545	1,738
Fair Value on Recurring Basis \| U.S Government Agency Obligations
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	1,883
Fair Value on Recurring Basis \| U.S Government Agency Obligations \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	1,883
Fair Value on Recurring Basis \| U.S Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	44,337
Total long-term marketable securities	2,866	17,954
Fair Value on Recurring Basis \| U.S Treasury Securities \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities	44,337
Total long-term marketable securities	2,866	17,954
Fair Value on Recurring Basis \| Asset-backed Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities		3,002
Total long-term marketable securities	601
Fair Value on Recurring Basis \| Asset-backed Securities \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total short-term marketable securities		$ 3,002
Total long-term marketable securities	$ 601

Marketable Securities - Summary of Amortized Cost and Estimated Fair Values of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	$ 61,149	$ 29,656
Gross Unrealized Holding Gains, Current marketable securities	1
Gross Unrealized Holding Losses, Current marketable securities	(591)	(7)
Carrying Value, Current marketable securities	60,559	29,649
Amortized Cost, Long-term marketable securities	4,048	19,789
Gross Unrealized Holding Losses, Long-term marketable securities	(36)	(97)
Carrying Value, Long-term marketable securities	4,012	19,692
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	3,317	7,068
Gross Unrealized Holding Losses, Current marketable securities	(33)	(7)
Carrying Value, Current marketable securities	3,284	7,061
Amortized Cost, Long-term marketable securities	557	1,746
Gross Unrealized Holding Losses, Long-term marketable securities	(12)	(8)
Carrying Value, Long-term marketable securities	545	1,738
U.S Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	44,875
Gross Unrealized Holding Gains, Current marketable securities	1
Gross Unrealized Holding Losses, Current marketable securities	(539)
Carrying Value, Current marketable securities	44,337
Amortized Cost, Long-term marketable securities	2,887	18,043
Gross Unrealized Holding Losses, Long-term marketable securities	(21)	(89)
Carrying Value, Long-term marketable securities	2,866	17,954
Money Market Funds \| Cash Equivalents
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	17,425	51,112
Carrying Value	17,425	51,112
U.S Government Agency Obligations
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	1,902
Gross Unrealized Holding Losses, Current marketable securities	(19)
Carrying Value, Current marketable securities	1,883
Commercial Paper
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities	11,055	19,586
Carrying Value, Current marketable securities	11,055	19,586
Asset-backed Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost, Current marketable securities		3,002
Carrying Value, Current marketable securities		$ 3,002
Amortized Cost, Long-term marketable securities	604
Gross Unrealized Holding Losses, Long-term marketable securities	(3)
Carrying Value, Long-term marketable securities	$ 601

Retirement Plans - Summary of Fair Values of Company's Deferred Compensation Plan Assets and Liability (Detail) - USD ($)
$ in Thousands

Sep. 30, 2022

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Non-qualified deferred compensation plan liability

$ 1,016

$ 262

Non-qualified Deferred Compensation Plans

Defined Benefit Plan Disclosure [Line Items]

Corporate-owned life insurance policies

^[1]

948

304

Non-qualified deferred compensation plan liability

^[2]

1,016

262

Non-qualified Deferred Compensation Plans | Level 2

Defined Benefit Plan Disclosure [Line Items]

Corporate-owned life insurance policies

^[1]

948

304

Non-qualified deferred compensation plan liability

^[2]

$ 1,016

$ 262

[1]	(1)The corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds and are categorized as Level 2.
[2]	(2)Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants.

Contingencies - Additional Information (Detail) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Threatened Litigation
Litigation liability	$ 0	$ 0

Retirement Plans

9 Months Ended

Sep. 30, 2022

Compensation And Retirement Disclosure [Abstract]

Retirement Plans

18. Retirement Plans

The Company offers a 401(k)-retirement savings plan (the “401(k) Plan”) for its employees, including its executive officers, who satisfy certain eligibility requirements. The Internal Revenue Code of 1986, as amended, allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) Plan. The Company matches contributions to the 401(k) Plan based on the amount of salary deferral contributions the participant makes to the 401(k) Plan. The Company will match up to 6% of an employee’s compensation that the employee contributes to his or her 401(k) Plan account. Total Company matching contributions to the 401(k) Plan were $312,000 and $183,000 in the three-months ended September 30, 2022 and 2021, respectively, and $783,000 and $606,000 in the nine-months ended September 30, 2022 and 2021.

Non-qualified deferred compensation plan

The Company’s non-qualified deferred compensation plan (the "NQDC plan"), which became effective on October 2021 allows for eligible management and highly compensated key employees to elect to defer a portion of their salary, bonus, commissions and RSU awards to later years. Cash deferrals are immediately vested and are subject to investment risk and a risk of forfeiture under certain circumstances. RSU deferrals are subject to the vesting conditions of the award. Once RSUs vest, subject to a six-month and one day holding period, employees are allowed to diversify the common stock into other investment options offered by the plan. For cash deferrals, the Company matches 4% to 6% (depending on level) of employee contributions. These matching employer contributions are vested over a two-year period with 25% vesting on year one and 75% vesting on year two for employees under 55 years of age. Employer contributions for employees over 55 years of age are immediately vested. Employer contributions to the NQDC plan were $75,000 and $0 for the three-months ended September 30, 2022 and 2021, and $197,000 and $0 for the nine-months ended September 30, 2022 and 2021. The Company’s deferred compensation plan liability was $1 million and $262,000 as of September 30, 2022 and December 31, 2021, respectively, and is included in non-qualified deferred compensation plan liability in the Consolidated Balance Sheets.

The Company established a COLI to fund the NQDC plan. Amounts in the COLI are invested in a number of funds. The securities are carried at the cash surrender value on the Consolidated Balance Sheets. We record investment gains and losses of the COLI as other income.

	Fair Value as of September 30, 2022								Fair Value as of December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Corporate-owned life insurance policies (1)		-	948			-	948			-	304			-	304
Non-qualified deferred compensation plan liability (2)		-		1,016		-		1,016		-		262		-		262

(2)Non-qualified deferred compensation plan liability is measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants.

Rabbi Trust

During April 2022, we established a rabbi trust to hold the assets of the NQDC plan. The rabbi trust holds the COLI asset and the common stock from deferred RSU awards that have vested. The NQDC permits diversification of fully vested shares into other equity securities subject to a six month and one day holding period. In accordance with ASR 268, Redeemable Preferred Stock, and ASC 718, Compensation — Stock Compensation, prior to vesting, the deferred share awards are classified as an equity instrument and changes in fair value of the amount owed to the participant are not recognized. The redemption amounts of the deferred awards are based on the vested percentage and are recorded outside of permanent equity as Non-qualified deferred compensation share awards on the Consolidated Balance Sheets. As of September 30, 2022, a total of 253,048 shares awards have been deferred, and during the quarter ended September 30, 2022, a total of 17,927 awards vested. Vested shares are converted to common stock and are reclassified to permanent equity. Common stock held in the rabbi trust is classified in a manner similar to treasury stock and presented separately on the Consolidated Balance Sheets as Common stock held by the NQDC plan. A total of 17,927 shares were vested at the redemption value of $127,000.

The following table summarizes the eligible share award activity as of September 30, 2022, and December 31, 2021 (in thousands):

	As of
	September 30, 2022			December 31, 2021
Non-qualified deferred compensation share awards:
Balance at inception/beginning of period		-			-
Change in classification of deferred compensation share awards		192			-
Share-based compensation expense		287			-
Change in redemption value		(80	)		-
Vesting of share awards held by NDQC		(127	)		-
Ending Balance		272			-

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

	As of September 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	17,425	$	-	$	-	$	17,425
Total cash equivalents		17,425		-		-		17,425
Short-term marketable securities
U.S Treasury securities		-		44,337		-		44,337
Commercial paper		-		11,055		-		11,055
Corporate debt securities		-		3,284		-		3,284
U.S Government Agency Obligations		-		1,883		-		1,883
Total short-term marketable securities		-		60,559		-		60,559
Long-term investments
U.S Treasury securities		-		2,866		-		2,866
Corporate debt securities		-		545		-		545
Asset backed securities		-	601			-		601
Total long-term marketable securities		-		4,012		-		4,012
Total marketable securities and cash equivalents	$	17,425	$	64,571	$	-	$	81,996

	As of December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	51,112	$	-	$	-	$	51,112
Total cash equivalents		51,112		-		-		51,112
Short-term marketable securities
Commercial paper		-		19,586		-		19,586
Corporate debt securities		-		7,061		-		7,061
Asset-backed securities		-		3,002		-		3,002
Total short-term marketable securities		-		29,649		-		29,649
Long-term investments
U.S Treasury securities		-		17,954		-		17,954
Corporate debt securities		-		1,738		-		1,738
Total long-term marketable securities		-		19,692		-		19,692
Total marketable securities and cash equivalents	$	51,112	$	49,341	$	-	$	100,453

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Tax expense	$ 4,000	$ 6,000		$ 12,000	$ 23,000
Deferred tax assets valuation allowance			$ 51,300,000						$ 46,900,000
Unrecognized income tax benefits	$ 0		0	$ 0
Tax Cut And Jobs Act
Income Tax Disclosure [Line Items]
Percentage of tax amount likely to be realised						50.00%	50.00%	50.00%
Tax Year 2026 through 2038
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 21,700,000
Earliest Tax Year
Income Tax Disclosure [Line Items]
Open tax year			2026
Latest Tax Year
Income Tax Disclosure [Line Items]
Open tax year			2038
Internal Revenue Service (IRS)
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 122,000,000.0
State and Local Jurisdiction
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 79,700,000
State and Local Jurisdiction \| Earliest Tax Year
Income Tax Disclosure [Line Items]
Open tax year			2026
State and Local Jurisdiction \| Latest Tax Year
Income Tax Disclosure [Line Items]
Open tax year			2041
Her Majesty's Revenue and Customs (HMRC)
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 31,900,000
Australian Taxation Office
Income Tax Disclosure [Line Items]
Net operating loss carryforwards			$ 38,200,000

Common and Preferred Stock

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Common and Preferred Stock

13. Common and Preferred Stock

The Company’s CHESS Depositary Interests (“CDIs”) are quoted on the ASX under the ticker code, “AVH”. The Company’s shares of common stock are quoted on the Nasdaq Capital Market (“Nasdaq”) under the ticker code, “RCEL”. One share of common stock on NASDAQ is equivalent to five CDIs on the ASX.

As a result of the ‘implicit consolidation’ that occurred under the AVITA group’s redomiciliation from Australia to the United States of America in 2020 (the “Redomiciliation”), the number of shares of common stock on issue in the Company (as set out in the consolidated financial statements) is less than the number of ordinary shares in AVITA Medical (the prior parent company of the AVITA group) that was previously set out in the consolidated financial statements of AVITA Medical. All common share amounts included in the consolidated financial statements have been retroactively reduced by a factor of one hundred and all per share amounts have been increased by a factor or one hundred, with the exception of the Company’s common stock par value.

The Company is authorized to issue 200,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share, issuable in one or more series as designated by the Company’s board of directors. No other class of capital stock is authorized. As of September 30, 2022, and December 31, 2021, 25,030,902 and 24,925,743 shares of common stock, respectively, were issued and outstanding and no shares of preferred stock were outstanding.

On March 1, 2021, the Company issued 3,214,250 shares of common stock at the offering price of $21.50 per share. The gross proceeds from the offering were approximately $69.1 million while the Company incurred $5.1 million in capital issuance expenses. The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-249419) that was previously filed with the Securities and Exchange Commission (the “SEC”) on October 9, 2020 and declared effective on October 16, 2020. It was also publicly released on the ASX. The final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on February 25, 2021 (in the United States) and released on the ASX on March 1, 2021 (in Australia).

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

The authoritative guidance on fair value measurements establishes a framework with respect to measuring assets and liabilities at fair value on a recurring basis and non-recurring basis. Under the framework, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as of the measurement date. The framework also establishes a three-tier hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability and are developed based on the best information available in the circumstances. The hierarchy consists of the following three levels:

Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.

Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs are unobservable inputs for the asset or liability

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:

	As of September 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	17,425	$	-	$	-	$	17,425
Total cash equivalents		17,425		-		-		17,425
Short-term marketable securities
U.S Treasury securities		-		44,337		-		44,337
Commercial paper		-		11,055		-		11,055
Corporate debt securities		-		3,284		-		3,284
U.S Government Agency Obligations		-		1,883		-		1,883
Total short-term marketable securities		-		60,559		-		60,559
Long-term investments
U.S Treasury securities		-		2,866		-		2,866
Corporate debt securities		-		545		-		545
Asset backed securities		-	601			-		601
Total long-term marketable securities		-		4,012		-		4,012
Total marketable securities and cash equivalents	$	17,425	$	64,571	$	-	$	81,996

	As of December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Cash Equivalents
Money market funds	$	51,112	$	-	$	-	$	51,112
Total cash equivalents		51,112		-		-		51,112
Short-term marketable securities
Commercial paper		-		19,586		-		19,586
Corporate debt securities		-		7,061		-		7,061
Asset-backed securities		-		3,002		-		3,002
Total short-term marketable securities		-		29,649		-		29,649
Long-term investments
U.S Treasury securities		-		17,954		-		17,954
Corporate debt securities		-		1,738		-		1,738
Total long-term marketable securities		-		19,692		-		19,692
Total marketable securities and cash equivalents	$	51,112	$	49,341	$	-	$	100,453

The Company’s Level 1 assets include money market instruments and are valued based upon observable market prices. Level 2 assets consist of commercial paper, U.S Government agency obligations, corporate debt securities, asset backed securities and U.S Treasury securities. Level 2 securities are valued based upon observable inputs that include reported trades, broker/dealer quotes, bids and offers. As of September 30, 2022 and December 31, 2021, the Company had no investments that were measured using unobservable (Level 3) inputs. There were no transfers between fair value measurement levels as of September 30, 2022 or December 31, 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2022

Property Plant And Equipment [Abstract]

Summary of Composition of Property, Plant and Equipment

The composition of property, plant and equipment, net is as follows (in thousands):

	Useful Lives	As of September 30, 2022			As of December 31, 2021
Computer equipment	3 years	$	734		$	740
Computer software	3 years		871			811
Construction in progress			181			29
Furniture and fixtures	7 years		440			440
Laboratory equipment	5 years		643			566
Leasehold improvements	Lesser of life or lease term		257			242
RECELL Moulds	5 years		129			129
Less: accumulated amortization and depreciation			(2,029	)		(1,695	)
Total plant and equipment, net		$	1,226		$	1,262

Net Loss Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

17. Net Loss per Share

The following is a reconciliation of the basic and diluted loss per share computations:

	Three-Months Ended September 30,						Nine-Months Ended September 30,
	(in thousands, except per share data)
	2022			2021			2022			2021
Net Loss	$	(5,588	)	$	(5,948	)	$	(21,312	)	$	(16,663	)
Weighted-average common shares – outstanding, basic		25,007			24,905			24,972			24,175
Weighted-average common shares – outstanding, diluted		25,007			24,905			24,972			24,175
Net loss per common share, basic	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)
Net loss per common share, diluted	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)

The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the relevant period. In accordance with ASC 710-10, 17,927 shares of common stock held by the rabbi trust are excluded from the denominator in the basic and diluted EPS calculations. For details on shares of common stock held by the rabbi trust refer to Note 18. For the purposes of the calculation of diluted net loss per share, options to purchase common stock,

restricted stock units and unvested shares of common stock issued upon the early exercise of stock options have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. Because the Company has reported a net loss for the three and nine-months ended September 30, 2022, and 2021, diluted net loss per common share is the same as the basic net loss per share for those periods.

Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q and determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements.

Plant and Equipment - Summary Of Composition Of Property, Plant And Equipment (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: accumulated amortization and depreciation	$ (2,029)	$ (1,695)
Total plant and equipment, net	$ 1,226	1,262
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 734	740
Computer Software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment, Gross	$ 871	811
Construction In Progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 181	29
Furniture And Fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Property, Plant and Equipment, Gross	$ 440	440
Laboratory Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 643	566
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Useful Lives	Lesser of life or lease term
Property, Plant and Equipment, Gross	$ 257	242
RECELL Moulds
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Gross	$ 129	$ 129

Intangible Assets - Summary of Future Amortization of Amortizable Intangible assets held (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2023	$ 33
2024	32
2025	32
2026	32
2027	32
Thereafter	238
Finite Lived Intangible Assets, Net Carrying Amount	$ 399

Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

At December 31, 2021, the Company and its subsidiaries had net operating loss carryforwards for federal, state, United Kingdom, and Australian income tax purposes of $122.0 million, $79.7 million, $31.9 million and $38.2 million respectively. The net operating loss carryforwards may be subject to limitation regarding their utilization against taxable income in future periods due to “change of ownership” provisions of the Internal Revenue Code and similar state and foreign provisions. Of these carryforwards, $21.7 million will expire, if not utilized, between 2026 through 2038. The state carryforwards begin to expire between 2026 through 2041. The remaining carryforwards have no expiration. The Company is forecasting current year losses and has full valuation allowances against its deferred tax assets. Tax expense for the three-months ended September 30, 2022 and 2021 of $4,000 and $6,000, respectively, is related to state minimum taxes. Tax expense for the nine-months ended September 30, 2022 and 2021, is $12,000 and $23,000, respectively.

In assessing the recoverability of its deferred tax assets, the Company considers whether it is more likely than not that its deferred assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those periods in which temporary differences become deductible and/or net operating losses can be utilized. The Company considers all positive and negative evidence when determining the amount of the net deferred tax assets that are more likely than not to be realized. This evidence includes, but is not limited to, historical earnings, scheduled reversal of taxable temporary differences, tax planning strategies and projected future taxable income. Based upon the weight of available evidence including the uncertainty regarding the Company’s ability to utilize certain net operating losses and tax credits in the future, the Company has established a valuation allowance against its net deferred tax assets of $51.3 million and $46.9 million as of December 31, 2021 and 2020, respectively. The deferred tax assets are primarily net operating loss carryforwards for which management has determined it is more likely than not that the deferred tax assets will not be realized.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements related to a particular tax position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination.

The Company has not identified any uncertain tax positions as of September 30, 2022 or December 31, 2021.

The Company files income tax returns in the U.S. federal, California and certain other state and foreign jurisdictions. The Company remains subject to income tax examinations for its U.S. federal and state income taxes generally for fiscal years ended June 30, 2006 and forward. The Company also remains subject to income tax examinations for international income taxes for fiscal years ended June 30, 2018 through June 30, 2021, and for certain other U.S. state and local income taxes generally for the fiscal years ended June 30, 2018 through June 30, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Revenues - Additional Information (Detail)	3 Months Ended		9 Months Ended
Revenues - Additional Information (Detail)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) PerformanceObligation	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract description			For revenues related to the BARDA contract within the scope of ASC 606, the Company identified two performance obligations: (i) the procurement of 5,614 RECELL units; and (ii) emergency preparedness services.
Capitalized fulfilment costs	$ 315,000		$ 315,000		$ 504,000
Performance obligation estimated revenue expected to be recognized	740,000		740,000		952,000
Contract with customer assets	0		0		0
Contract with customers non current liability	740,000		740,000		952,000
Contract cost amortization			253,000	$ 211,000
Contract cost impairment loss	0	$ 0	0	0
Cost of Sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract cost amortization	84,000	82,000	253,000	211,000
Other Noncurrent Assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Capitalized fulfilment costs	315,000		$ 315,000		504,000
BARDA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract description			For the contract with BARDA, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units; and (ii) emergency preparedness services.
Number of performance obligations \| PerformanceObligation			2
Contract with customer liability revenue recognized	93,000	92,000	$ 279,000	246,000
BARDA \| RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of units will be delivered			5,614
Product replacement obligation cost			$ 0
Deferred cost	52,000		52,000		64,000
Services recognized	93,000	92,000	279,000	246,000
Performance obligation estimated revenue expected to be recognized	308,000		308,000		517,000
Japanese Pharmaceuticals and Medical Device Act Approval \| RECELL system
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation estimated revenue expected to be recognized	432,000		432,000		$ 435,000
COSMOTEC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer liability revenue recognized	$ 3,000	$ 0	$ 3,000	$ 0

Contingencies

9 Months Ended

Sep. 30, 2022

Commitments And Contingencies Disclosure [Abstract]

Contingencies

12. Contingencies

The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. As of September 30, 2022 and December 31, 2021, the Company did not have any outstanding or threatened litigation that would have a material impact to the financial statements.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Inventory - Summary Of Composition Of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 1,384	$ 1,222
Work in process	209	176
Finished goods	367	734
Total inventory	$ 1,960	$ 2,132

Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 23,613,000	$ 55,511,000
Marketable securities	60,559,000	29,649,000
Accounts receivable, net	3,553,000	3,118,000
BARDA receivables	792,000	308,000
Prepaids and other current assets	1,041,000	1,213,000
Restricted cash	202,000	201,000
Inventory	1,960,000	2,132,000
Total current assets	91,720,000	92,132,000
Marketable securities, long-term	4,012,000	19,692,000
Plant and equipment, net	1,226,000	1,262,000
Operating lease right-of-use assets	1,029,000	1,544,000
Corporate-owned life insurance asset	948,000	304,000
Intangible assets, net	449,000	443,000
Other long-term assets	548,000	638,000
Total assets	99,932,000	116,015,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued liabilities	3,118,000	2,708,000
Accrued wages and fringe benefits	4,776,000	5,363,000
Other current liabilities	1,619,000	1,075,000
Total current liabilities	9,513,000	9,146,000
Non-qualified deferred compensation plan liability	1,016,000	262,000
Contract liabilities	740,000	952,000
Operating lease liabilities, long-term	405,000	918,000
Other long-term liabilities		113,000
Total liabilities	11,674,000	11,391,000
Non-qualified deferred compensation plan share awards	272,000
Contingencies (Note 12)
Shareholders' Equity:
Common stock, $0.0001 par value per share, 200,000,000 shares authorized, 25,030,902 and 24,925,743 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	3,000	3,000
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized, no shares issued or outstanding at September 30, 2022 and December 31, 2021
Company common stock held by the non-qualified deferred compensation plan	(127,000)
Additional paid-in capital	337,995,000	332,484,000
Accumulated other comprehensive income	7,350,000	8,060,000
Accumulated deficit	(257,235,000)	(235,923,000)
Total shareholders' equity	87,986,000	104,624,000
Total liabilities and shareholders' equity	$ 99,932,000	$ 116,015,000

Inventory

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Inventory

7. Inventory

The composition of inventory is as follows (in thousands):



	As of September 30, 2022		As of December 31, 2021
Raw materials	$	1,384	$	1,222
Work in process		209		176
Finished goods		367		734
Total inventory	$	1,960	$	2,132

The Company has reduced the carrying value of its inventories to reflect the lower of cost or net realizable value. Charges for estimated excess and obsolescence are recorded in cost of sales in the consolidated statements of operations and were $125,000 and $46,000, for the three-months ended September 30, 2022 and 2021, respectively. Charges for estimated excess and obsolescence were $284,000 and $288,000 for the nine-months ended September 30, 2022 and 2021, respectively.

Other Current and Long-Term Assets and Liabilities - Summary of Other Long Term Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other Assets Noncurrent Disclosure [Abstract]
BARDA contract costs	$ 315	$ 504
Long-term lease deposits	121	124
Long-term prepaids	112	10
Total other long-term assets	$ 548	$ 638

Share-Based Payment Plans

9 Months Ended

Sep. 30, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Payment Plans

15. Share-Based Payment Plans

Overview of Employee Share-Based Compensation Plans

Our former parent company, AVITA Medical, adopted the Employee Share Plan and the Incentive Option Plan (collectively, the “2016 Plans”). Upon completion of the Redomiciliation, the 2016 Plans were terminated with respect to future grants and accordingly, there are no more shares available to be issued under the 2016 Plans. In addition, upon completion of the Redomiciliation, the Company had an implicit consolidation or reverse stock split of 100:1 and all share information presented below in relation to the 2016 Plans has been presented on a reverse stock split basis. During November 2020, the Company, pursuant to Rule 416 under the Securities Act of 1933, filed a registration statement on Form S-8 to register a total of 1,750,000 shares of common stock which may be issued pursuant to the terms of the Company’s 2020 Omnibus Incentive Plan (“2020 Plan”). On December 22, 2021, the Company’s stockholders approved the issuance of options and awards to the Board of Directors and the Company's former CEO ("Former CEO"). These awards are subject to the vesting and performance conditions as denoted in the individual agreements.

The 2020 Plan provides for the grant of the following Grants: (a) Incentive Stock Options, (b) Nonstatutory Stock Options, (c) Stock Appreciation Rights, (d) Restricted Stock Grants, (e) Restricted Stock Unit Grants, (f) Performance Grants, and (g) Other Grants. The 2020 Plan will be administered by the Compensation Committee or by the Board acting as the Compensation Committee. Subject to the general purposes, terms and conditions of the 2020 Plan, applicable law and any charter adopted by the Board governing the actions of the Compensation Committee, the Compensation Committee will have full power to implement and carry out the 2020 Plan. Without limitation, the Compensation Committee will have the authority to interpret the plan, approve persons to receive grants, determine the terms and number of shares of the grants, determine vesting and exercisability of grants, and make all other determinations necessary or advisable in connection with the administration of this Plan.

The contractual term of awards granted under the 2020 Plan is ten years from the date of its grant. Unless otherwise specified, the vesting period of awards granted under the 2020 Plan was: (i) vest over a four-year period in four equal installments, 25% at the end of each year from the date of grant, and /or (ii) subject to other performance criteria and hurdles, as determined by the Compensation Committee.

Share-Based Payment Expenses

Share-based payment transactions are recognized as compensation expense based on the fair value of the instrument on the date of grant. The Company uses the graded-vesting method to recognize compensation expense. Compensation cost is reduced for forfeitures as they occur in accordance with ASU 2016-09, simplifying the Accounting for Share-Based Payment ("ASU 2016”09"). During the three-months ended September 30, 2022, and 2021, the Company recorded share-based compensation expense of $1.4 million, and $1.8 million, respectively. During the nine-months ended September 30, 2022, and 2021, the Company recorded share-based compensation expense of $5.8 million, and $4.6 million, respectively. No income tax benefit was recognized in the consolidated statements of operations for share-based payment arrangements for the three-months ended September 30, 2022, and 2021, or the nine-months ended September 30, 2022, and 2021.

The Company has included share-based compensation expense as part of operating expenses in the accompanying consolidated statements of operations as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Sales and marketing expenses	$	408	$	291	$	1,022	$	592
General and administrative expenses		761		1,251		4,071		3,353
Research and development expenses		267		300		689		640
Total	$	1,436	$	1,842	$	5,782	$	4,585

A summary of share option activity as of September 30, 2022, and changes during the period ended is presented below:

	Service Only Share Options			Performance Based Share Options			Market Awards			Total Share Options
Outstanding shares at December 31, 2021		1,129,126			599,994			27,600			1,756,720
Granted		456,300			-			-			456,300
Exercised		(125	)		-			-			(125	)
Expired		(5,025	)		(6,900	)		(27,600	)		(39,525	)
Forfeited		(41,175	)		-			-			(41,175	)
Outstanding shares at September 30, 2022		1,539,101			593,094			-			2,132,195
Exercisable at September 30, 2022		668,137			364,258			-			1,032,395

Restricted Stock Units

Restricted stock units (“RSUs”) are granted to executives as part of their long-term incentive compensation. RSUs granted prior to the 2020 Plan arise out of contracts between the Company’s former parent company, AVITA Medical and the holders of such securities. RSUs granted as a result of stockholder approval at the December 22, 2021 Annual General Meeting (“AGM”) arise out of contracts between the Company and the holders of such securities. These RSU awards were approved by the Compensation Committee as determined necessary. All RSU awards have a contractual term of 10 years and vest in accordance with the tenure or performance conditions as determined by the Compensation Committee and set out in the contracts between the Company and the holders of such securities. The grant date fair value is determined based on the price of the Company stock price on the date of grant (stock price determined on Nasdaq post Redomiciliation and ASX prior to the Redomiciliation). RSUs primarily consist of awards to the Former CEO and other executives as well as Non-Executive Directors (as occurred following the 2021 AGM). The Former CEO RSU awards are described below.

A summary of the status of the Company’s unvested RSUs as of September 30, 2022, and changes that occurred during the year is presented below:

	Service Condition RSU			Performance Condition RSU			Market Condition			Total RSU's
Unvested RSUs outstanding at December 31, 2021		114,757			135,093			47,640			297,490
Granted		334,450			-			-			334,450
Vested		(47,507	)		(57,527	)		-			(105,034	)
Forfeited		(5,850	)		(11,920	)		(47,640	)		(65,410	)
Unvested RSUs outstanding at September 30, 2022		395,850			65,646			-			461,496

2019 Former CEO RSUs

On November 2019, the equivalent of 395,542 RSUs were issued to the Former CEO with the following vesting terms:

Tenure – the equivalent of 142,521 RSUs with a vesting period of three-years commencing on September 1, 2020. On September 1, 2022, the last tranche of 47,507 RSUs vested and were appropriately released. As of September 30, 2022, no RSUs are outstanding from this award.

Milestone performance – 253,021 of the RSUs would vest upon satisfaction of various performance conditions. During the first quarter of 2022 the last performance milestone was achieved, the RSUs vested and were appropriately released. As of September 30, 2022, no RSUs are outstanding from this award.

2021 AGM Awards

On December 22, 2021, as part of the Company’s 2021 AGM, the Company’s stockholders approved the grant of stock option awards and RSUs to the Former CEO and the Board of Directors. These awards are referred to as the 2021 AGM Awards.

Awards to the Former CEO under the 2021 AGM Awards

On December 22, 2021, the Former CEO was issued an aggregate 150,480 options and RSUs comprising:

•

37,600 tenure-based options and RSUs (23,800 RSUs and 13,800 options) with 25% of those options and RSUs vesting annually commencing on December 14, 2022.

•

37,640 performance-based options and RSUs (23,840 RSUs and 13,800 options) that vest upon satisfaction of the below conditions:

9,410 awards (5,960 RSUs and 3,450 options) - Achieve Centers for Medicare and Medicaid Services reimbursement for out-patient transitional pass-through payment code (“TPT”) by June30, 2022. This performance condition was met during the quarter ended March 31, 2022 resulting in the 5,960 RSUs vesting and 5,960 shares of common stock being issued in respect of those vested RSUs, as well as the 3,450 options vesting (although those vested options have not been exercised by the Former CEO as at the date of this Form 10-Q).

9,410 awards (5,960 RSUs and 3,450 options) - Achieve Japanese approval from Pharmaceuticals and Medical Device Agency (“PMDA”) and reimbursement code by September 30, 2022. This performance condition was met during the quarter ended September 30, 2022, resulting in the RSUs vesting and 5,960 shares of common stock being issued in respect of those vested RSUs, as well as the 3,450 options vesting (although those vested options have not been exercised by the Former CEO as at the date of this Form 10-Q).

9,410 awards (5,960 RSUs and 3,450 options) - Achieve profitability of the Company’s Burns business for two consecutive quarters by March 31, 2023. These awards were unvested as at the date of termination of the Former CEO's employment.

9,410 awards (5,960 RSUs and 3,450 options) - Achieve US FDA approval of vitiligo indication by December 31, 2023. These awards were unvested as at the date of termination of the Former CEO's employment.

•

75,240 stretch-performance based options and RSUs (47,640 RSUs and 27,600 options) that vest upon satisfaction of the below conditions:

37,620 (23,820 RSUs and 13,800 options) - Achieve a doubling based on a 10-day volume-weighted average price (“VWAP”) of the Company’s share price as of the date of the 2021 Annual Meeting (being December 14, 2021) by September 30, 2023. The target share price is $25.74. These awards were unvested as at the date of termination of the Former CEO's employment.

37,620 (23,820 RSUs and 13,800 options) - Achieve a market capitalization of the Company of greater than or equal to US$1.25 billion (as compared to market capitalization of ~US$435M as of October 14, 2021) and maintain that market capitalization for at least 30 consecutive calendar days on or before December 31, 2024. These awards were unvested as at the date of termination of the Former CEO's employment.

In accordance with the terms of the RSU Agreement and Option Agreements with the Former CEO, unvested performance-based and market condition RSUs were forfeited on the date of termination and unvested performance-based and market conditions options expired on the date of termination. Per the terms of the RSU and Option Agreements, RSUs and options that were granted and are tenure-based only will continue to vest as long as the Former CEO continues to provide services to the Company as a Board Member.

Awards to the Board of Directors under the 2021 AGM Awards

The Board of Director awards that were granted in 2021 consist of an aggregate 68,600 options and RSUs as follows:

•

41,400 tenure-based options and RSUs (15,300 options and 26,100 RSUs) vesting 12 months from the grant date

6,900 tenure-based options and RSUs (4,350 RSUs and 2,550 options) were granted to each of the six non-executive board members based on the vesting terms detailed above.

•

27,200 tenure-based options and RSUs (9,850 options and 17,350 RSUs) vesting on the first, second and third anniversary of the grant date in equal amounts (i.e. 1/3 of the RSUs and options will vest on each anniversary of the grant date, being on December 22 of each relevant year).

o13,600 tenure-based options and RSUs (8,675 RSUs and 4,925 options) were granted to Jan Stern Reed and James Corbett as an initial grant in connection with their appointment to the Board of Directors.

Share-Based Payment Plans - Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 1,436	$ 1,842	$ 5,782	$ 4,585
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	408	291	1,022	592
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	761	1,251	4,071	3,353
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Expense	$ 267	$ 300	$ 689	$ 640

Common and Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Mar. 01, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock shares authorized		200,000,000		200,000,000
Common stock par value		$ 0.0001		$ 0.0001
Preferred stock shares authorized		10,000,000		10,000,000
Preferred stock par value		$ 0.0001		$ 0.0001
Common stock shares issued		25,030,902		24,925,743
Common stock shares outstanding		25,030,902		24,925,743
Preferred stock shares outstanding		0		0
Stock issued during period, value, new issues			$ 69,106
Common Stock
Class Of Stock [Line Items]
Stock issued during period, shares, new issues	3,214,250		3,214,250
Sale of stock issue price per share	$ 21.50
Stock issued during period, value, new issues	$ 69,100
Capital issuance expenses	$ 5,100
Shareholders Of Avita Medical \| ADRS
Class Of Stock [Line Items]
Reverse stock split ratio, description		One share of common stock on NASDAQ is equivalent to five CDIs on the ASX.

Other Current and Long-Term Assets and Liabilities - Summary of Prepaids and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid Expense And Other Assets Current [Abstract]
Prepaid expenses	$ 862	$ 1,124
Lease deposits	16	2
Accrued investment income	146	72
Other receivables	17	15
Total prepaids and other current assets	$ 1,041	$ 1,213

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Impairment of intangible assets	$ 0				$ 0
Amortization of intangible assets	$ 8,000	$ 27,000	$ 50,000	$ 88,000
Impairment charge						$ 19,000
Abandoned Patent
Schedule Of Intangible Assets Excluding Goodwill [Line Items]
Impairment charge		$ 19,000				$ 19,000

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Other Receivables

See table below for breakdown of BARDA receivables (in thousands).

	As of September 30, 2022		As of December 31, 2021
BARDA procurement and emergency preparedness services	$	15	$	9
BARDA expense reimbursements		777		299
Total BARDA receivables	$	792	$	308

Share-Based Payment Plans (Tables)

9 Months Ended

Sep. 30, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations

The Company has included share-based compensation expense as part of operating expenses in the accompanying consolidated statements of operations as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Sales and marketing expenses	$	408	$	291	$	1,022	$	592
General and administrative expenses		761		1,251		4,071		3,353
Research and development expenses		267		300		689		640
Total	$	1,436	$	1,842	$	5,782	$	4,585

Summary Of Share Option Activity

A summary of share option activity as of September 30, 2022, and changes during the period ended is presented below:

	Service Only Share Options			Performance Based Share Options			Market Awards			Total Share Options
Outstanding shares at December 31, 2021		1,129,126			599,994			27,600			1,756,720
Granted		456,300			-			-			456,300
Exercised		(125	)		-			-			(125	)
Expired		(5,025	)		(6,900	)		(27,600	)		(39,525	)
Forfeited		(41,175	)		-			-			(41,175	)
Outstanding shares at September 30, 2022		1,539,101			593,094			-			2,132,195
Exercisable at September 30, 2022		668,137			364,258			-			1,032,395

Non Option Restricted Stock Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary Of Share Option Activity

A summary of the status of the Company’s unvested RSUs as of September 30, 2022, and changes that occurred during the year is presented below:

	Service Condition RSU			Performance Condition RSU			Market Condition			Total RSU's
Unvested RSUs outstanding at December 31, 2021		114,757			135,093			47,640			297,490
Granted		334,450			-			-			334,450
Vested		(47,507	)		(57,527	)		-			(105,034	)
Forfeited		(5,850	)		(11,920	)		(47,640	)		(65,410	)
Unvested RSUs outstanding at September 30, 2022		395,850			65,646			-			461,496

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Nov. 07, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	AVITA MEDICAL, INC.
Entity Central Index Key	0001762303
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Security Exchange Name	NASDAQ
Trading Symbol	RCEL
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Entity Interactive Data Current	Yes
Entity Address, State or Province	CA
Entity Incorporation, State or Country Code	DE
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		25,030,902
Entity File Number	001-39059
Entity Tax Identification Number	85-1021707
Entity Address, Address Line One	28159 Avenue Stanford
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Valencia
Entity Address, Postal Zip Code	91355
City Area Code	(661)
Local Phone Number	367-9170

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 9,092	$ 7,020	$ 24,966	$ 26,089
Cost of sales	(1,530)	(1,088)	(4,694)	(5,287)
Gross profit	7,562	5,932	20,272	20,802
BARDA income	904	374	2,189	1,384
Operating expenses:
Sales and marketing expenses	(5,411)	(3,518)	(15,571)	(11,313)
General and administrative expenses	(5,004)	(5,349)	(18,009)	(16,046)
Research and development expenses	(3,799)	(3,388)	(10,478)	(11,471)
Total operating expenses	(14,214)	(12,255)	(44,058)	(38,830)
Operating loss	(5,748)	(5,949)	(21,597)	(16,644)
Interest expense	(6)	(9)	(10)	(21)
Other income	170	16	307	25
Loss before income taxes	(5,584)	(5,942)	(21,300)	(16,640)
Income tax expense	(4)	(6)	(12)	(23)
Net loss	$ (5,588)	$ (5,948)	$ (21,312)	$ (16,663)
Net loss per common share:
Basic	$ (0.22)	$ (0.24)	$ (0.85)	$ (0.69)
Diluted	$ (0.22)	$ (0.24)	$ (0.85)	$ (0.69)
Weighted-average common shares:
Basic	25,006,995	24,905,403	24,972,331	24,174,811
Diluted	25,006,995	24,905,403	24,972,331	24,174,811

Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Summary Of Reconciliation Of The Basic And Diluted Loss Per Share

The following is a reconciliation of the basic and diluted loss per share computations:

	Three-Months Ended September 30,						Nine-Months Ended September 30,
	(in thousands, except per share data)
	2022			2021			2022			2021
Net Loss	$	(5,588	)	$	(5,948	)	$	(21,312	)	$	(16,663	)
Weighted-average common shares – outstanding, basic		25,007			24,905			24,972			24,175
Weighted-average common shares – outstanding, diluted		25,007			24,905			24,972			24,175
Net loss per common share, basic	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)
Net loss per common share, diluted	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)

Accounting Standards Update

9 Months Ended

Sep. 30, 2022

Accounting Changes And Error Corrections [Abstract]

Accounting Standards Update

3. Accounting Standards Update

Recently Adopted Accounting Pronouncements

In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance.” ASC 832 requires business entities to provide certain disclosures when they (1) have received government assistance and (2) use a grant or contribution accounting model by analogy to other accounting guidance. The guidance will require business entities to disclose the nature of the transactions, accounting policies used to account for the transactions, and state which line items on the balance sheet and income statement are affected by these transactions and the amount applicable to each financial statement line. Business entities will also have to disclose significant terms and conditions of transactions with a government such as the duration of the agreement, any commitments made by either side, provisions, and contingencies. The guidance in ASU 2021-10 is effective for all entities for fiscal years beginning after December 15, 2021. Entities may apply the provision either (1) prospectively to all transactions within the scope of ASC 832 that are reflected in the financial statements as of the adoption date and all new transactions entered into after the date of adoption or (2) retrospectively. The Company adopted this standard as of January 1, 2022. The adoption did not have a material impact on the consolidated financial statements or disclosures.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, or ASU 2019-12, which includes amendments to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes, or ASC 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The new guidance is effective for the Company for annual periods beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company adopted this standard as of January 1, 2022. The adoption did not have a material impact on the consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted

All other newly issued but not yet effective accounting pronouncements have been deemed to be not applicable or immaterial to the Company.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

Reclassification of Prior Year Presentation

Use of Estimates

Foreign Currency Translation and Foreign Currency Transactions

Comprehensive Loss

Revenue Recognition

1.	Identify the contract with a customer

2.	Identify the performance obligations

3.	Determine the transaction price

4.	Allocate the transaction price to the performance obligations

5.	Recognize revenue when/as performance obligation(s) are satisfied

Contract Liabilities

Cost of Sales

Income Taxes

Cash and Cash Equivalents

Restricted Cash

Concentrations

	As of September 30, 2022		As of December 31, 2021
BARDA procurement and emergency preparedness services	$	15	$	9
BARDA expense reimbursements		777		299
Total BARDA receivables	$	792	$	308

Marketable Securities

BARDA Income and Receivables

Leases

Share-based compensation

•

Expected dividends - based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the foreseeable future

•

Risk-free interest rate – the risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for a period approximately equal to the expected term of the award.

Segment Reporting

Non-Qualified Deferred Compensation Plan Liability and Corporate-Owned Life Insurance Asset

Rabbi Trust

Non-qualified deferred compensation share awards

Leases - Summary Of Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lease Cost [Abstract]
Operating lease cost	$ 194	$ 188	$ 582	$ 560
Variable lease cost	13	12	38	36
Total lease cost	$ 207	$ 200	$ 620	$ 596

Reporting Segment and Geographic Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Reporting Segment and Geographic Information

11. Reporting Segment and Geographic Information

The Company views its operations and manages its business in one reporting segment. Long-lived assets are primarily located in the United States as of September 30, 2022, and December 31, 2021 with an insignificant amount located in Australia and the United Kingdom.

Revenue by region for the three and nine-months ended September 30, 2022, and 2021 were as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Revenue:
United States	$	8,996	$	6,924	$	24,672	$	25,888
Foreign:
Australia		57		66		173		141
United Kingdom		39		30		121		60
Total	$	9,092	$	7,020	$	24,966	$	26,089

Revenue and cost of sales by customer type for the three and nine-months ended September 30, 2022, and 2021 were as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Revenue:
Commercial sales	$	8,999	$	6,928	$	24,687	$	18,249
BARDA:
Product sales		-		-		-		7,594
Services for emergency preparedness		93		92		279		246
Total	$	9,092	$	7,020	$	24,966	$	26,089

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022			2021
Cost of sales
Commercial cost	$	1,446	$	1,006	$	4,453		$	3,187
BARDA:
Product cost		-		-		(12	)		1,889
Emergency preparedness service cost		84		82		253			211
Total	$	1,530	$	1,088	$	4,694		$	5,287

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies - Additional Information (Detail)

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2022

USD ($)

Sep. 30, 2021

USD ($)

Sep. 30, 2022

USD ($)

PerformanceObligation

Segment

Sep. 30, 2021

USD ($)

Dec. 31, 2021

USD ($)

Summary Of Significant Accounting Policies [Line Items]

Gain (loss) on foreign currency transactions

$ 121,000

$ 28,000

Contract description

Cash at deposit institutions

$ 6,200,000

$ 4,400,000

Cash in foreign institutions

296,000

203,000

Cash equivalents held

17,400,000

51,100,000

Restricted cash

$ 202,000

$ 201,000

Concentration risk, customer

one

^[1]

Description of maturity terms

Final maturity period

37 months

Lease renewal period

3 years

Contractual term

10 years

Number of business segment | Segment

Number of shares awards deferred, unvested | shares

253,048

Redemption value of non-qualified deferred compensation share awards

$ 272,000

Deferred compensation arrangement with individual, shares vested | shares

17,927

Deferred compensation arrangement with individual, vested value

$ 127,000

Deferred Compensation Plans

Summary Of Significant Accounting Policies [Line Items]

Employer matching contributions, Vesting period

2 years

Vesting on Year One | Deferred Compensation Plans

Summary Of Significant Accounting Policies [Line Items]

Employer matching contributions, Vesting percentage

25.00%

Vesting on Year Two | Deferred Compensation Plans

Summary Of Significant Accounting Policies [Line Items]

Employer matching contributions, Vesting percentage

75.00%

Revenue Benchmark

Summary Of Significant Accounting Policies [Line Items]

Concentration risk, customer

one

Minimum

Summary Of Significant Accounting Policies [Line Items]

Revenue, performance obligation, description of payment terms

30 days

Remaining lease terms

1 year

Maximum

Summary Of Significant Accounting Policies [Line Items]

Revenue, performance obligation, description of payment terms

90 days

Remaining lease terms

2 years

BARDA

Summary Of Significant Accounting Policies [Line Items]

Contract description

For the contract with BARDA, the Company identified two performance obligations (i) the procurement of 5,614 RECELL units; and (ii) emergency preparedness services.

Number of performance obligations | PerformanceObligation

Commercial Customer | Accounts Receivable | Customer Concentration Risk

Summary Of Significant Accounting Policies [Line Items]

Concentration risk, percentage

10.00%

BARDA

Summary Of Significant Accounting Policies [Line Items]

Number of performance obligations | PerformanceObligation

Total transaction price of contract

$ 9,200,000

RECELL system | BARDA

Summary Of Significant Accounting Policies [Line Items]

Number of units will be delivered

5,614

Product replacement obligation cost

$ 0

Deferred cost

$ 52,000

$ 64,000

RECELL system | BARDA

Summary Of Significant Accounting Policies [Line Items]

Number of units will be delivered

5,614

Transaction price allocated on a stand alone selling price basis

$ 7,600,000

Emergency Deployment | BARDA

Summary Of Significant Accounting Policies [Line Items]

Transaction price allocated on a stand alone selling price basis

$ 1,600,000

Emergency Deployment Service | Commercial Customer | Revenue Benchmark | Customer Concentration Risk

Summary Of Significant Accounting Policies [Line Items]

Concentration risk, percentage

1.00%

30.00%

Emergency Preparedness Services | BARDA | Accounts Receivable Revenue | Customer Concentration Risk

Summary Of Significant Accounting Policies [Line Items]

Concentration risk, percentage

2.00%

3.00%

General and Administrative Expense

Summary Of Significant Accounting Policies [Line Items]

Gain (loss) on foreign currency transactions

$ 6,000

$ (14,000)

$ (2,000)

$ (30,000)

General and Administrative Expense | Non-US

Summary Of Significant Accounting Policies [Line Items]

Gain (loss) on foreign currency transactions

$ 76,000

$ 41,000

123,000

$ 58,000

Revenue | RECELL system | BARDA

Summary Of Significant Accounting Policies [Line Items]

Transaction price allocated on a stand alone selling price basis

$ 1,600,000

[1]

one

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

6. Leases

During August 2021, the Company remeasured the lease liability for an office lease due to a change in the lease term. As a result of the remeasurement of the lease liability, there was an increase of approximately $392,000 to the operating lease ROU assets and operating lease liabilities. There was no impact on earnings as a result of the modification.

The following table sets forth the Company’s operating lease expenses which are included in general and administrative expenses in the consolidated statements of operations (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Operating lease cost	$	194	$	188	$	582	$	560
Variable lease cost		13		12		38		36
Total lease cost	$	207	$	200	$	620	$	596

Supplemental cash flow information related to operating leases for the three and nine-months ended September 30, 2022 and 2021 was as follows (in thousands):

	Three-months ended September 30,				Nine-months ended September 30,
	2022		2021		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	201	$	192	$	598	$	575

Supplemental balance sheet information, as of September 30, 2022 and December 31, 2021 related to operating leases was as follows (in thousands):

	As of September 30, 2022			As of December 31, 2021
Reported as:
Operating lease right-of-use assets	$	1,029		$	1,544
Total right-of-use assets	$	1,029		$	1,544

Other current liabilities:
Operating lease liabilities, short-term	$	702		$	720
Operating lease liabilities, long term		405			918
Total operating lease liabilities	$	1,107		$	1,638
Operating lease weighted average remaining lease term (years)		1.64			2.30
Operating lease weighted average discount rate		6.64	%		6.51	%

As of September 30, 2022, maturities of the Company’s operating lease liabilities are as follows (in thousands):

	Operating Leases
Remainder of 2022	$	205
2023		649
2024		314
Total lease payments		1,168
Less imputed interest		(61	)
Total operating lease liabilities	$	1,107

As of September 30, 2022, there were no leases entered into that had not yet commenced.

The Company

9 Months Ended

Sep. 30, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

The Company

1. The Company

Nature of the Business

The AVITA group of companies (comprising AVITA Medical, Inc. (“AVITA” or the “Company”) and its subsidiaries, including AVITA Medical Pty Limited, previously known as AVITA Medical Limited (“AVITA Medical”)) (collectively, “AVITA Group” or “we”, “us”, or “our”), is a regenerative medicine company leading the development and commercialization of devices and autologous cellular therapies for skin restoration. The Company’s RECELL® System technology platform harnesses the regenerative properties of a patient’s own skin to create Spray-On Skin™ cells. In September 2018, the United States Food & Drug Administration (“FDA”) granted premarket approval (“PMA”) to the RECELL System for use in the treatment of acute partial-thickness thermal burns in patients eighteen years and older. Following receipt of our original PMA, we commenced commercialization of the RECELL System in January 2019 in the United States. In June 2021, the FDA approved expanded use of the RECELL System in combination of meshed autografting for acute full-thickness thermal wounds in pediatric and adult patients. In February 2022, the FDA approved a PMA supplement for the RECELL Autologous Cell Harvesting Device, an enhanced ease-of-use device aimed at providing clinicians a more efficient user experience and simplified workflow. In addition, the FDA has granted the Company Investigational Device Exemptions (“IDEs”), which have enabled the Company to initiate pivotal clinical trials to further expand the indications of the RECELL System for the treatment of soft tissue repair and vitiligo. Enrollment of those clinical trials is complete, with topline results recently announced for both the soft tissue repair and vitiligo trials. Results from those studies are intended to support the Company’s pursuit of FDA approval to market the RECELL System in the United States for those indications.

In February 2019, we entered into a collaboration with COSMOTEC, an M3 Group company, to market and distribute the RECELL System in Japan. We worked with COSMOTEC to advance our application for approval of the RECELL System in Japan pursuant to Japan’s Pharmaceuticals and Medical Devices Act (“PMDA”). In February 2022, COSMOTEC’s application for regulatory approval was approved by the PMDA initially with labelling for burns only. In September 2022, COSMOTEC commercially launched RECELL in Japan following Japan’s Ministry of Health, Labor, and Welfare approval of reimbursement pricing. Once data from the soft tissue repair and vitiligo trials are available from the Company’s related U.S. clinical trials, COSMOTEC plans to submit a further application for soft tissue repair and vitiligo indications.

In March 2020, the World Health Organization declared the outbreak of a novel strain of the coronavirus (“COVID-19”) a pandemic. We continue to closely monitor the impact surrounding the spread and potential resurgence of COVID-19 due to existing and future variants. As of the date of this filing, with the continued overall decrease in COVID-19 infections and hospitalizations and government imposed restrictions having been lifted, we continue to be unable to predict the full impact that the ongoing COVID-19 pandemic will have on our future results of operations, liquidity, and financial condition due to numerous uncertainties, including the duration of the pandemic and the actions that may be taken in the future by government authorities across the United States in response to new variants. The Company has assessed the potential impact of COVID-19 on certain accounting matters including, but not limited to, the allowance for doubtful accounts, inventory reserves and return reserves, and impairment considerations for long-lived assets, marketable securities and intangibles, as of September 30, 2022, and through the date of this report. With respect to future operating results, it is not possible at this time to predict, with any degree of precision, the effects of COVID-19. Consequently, actual results for accounting estimates and assumptions, particularly those relating to the recoverability of certain intangible assets and estimates of expected credit losses on accounts receivable could differ from these estimates. However, we do not currently believe that COVID-19 will result in any significant changes in costs going forward. We will continue to monitor the performance of our business and reassess the impacts of COVID-19 and its variants.

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Company Common Stock Held by the NQDC	Additional Paid-in Capital	Accumulated Other Comprehensive Gain (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2020	$ 59,597	$ 3		$ 262,086	$ 8,289	$ (210,781)
Beginning balance, shares at Dec. 31, 2020		21,625,058
Net loss	(16,663)					(16,663)
Issuance of common stock under direct placement	69,106			69,106
Issuance of common stock under direct placement, shares		3,214,250
Issuance costs associated with direct placement	(5,109)			(5,109)
Share-based compensation	4,585			4,585
Exercise of stock options	66			66
Exercise of stock options, shares		9,550
Vesting of restricted stock units, shares		76,260
Other comprehensive loss	(90)				(90)
Ending Balance at Sep. 30, 2021	111,492	$ 3		330,734	8,199	(227,444)
Ending Balance, shares at Sep. 30, 2021		24,925,118
Beginning Balance at Jun. 30, 2021	115,655	$ 3		328,889	8,259	(221,496)
Beginning balance, shares at Jun. 30, 2021		24,895,864
Net loss	(5,948)					(5,948)
Share-based compensation	1,842			1,842
Exercise of stock options	3			3
Exercise of stock options, shares		500
Vesting of restricted stock units, shares		28,754
Other comprehensive loss	(60)				(60)
Ending Balance at Sep. 30, 2021	111,492	$ 3		330,734	8,199	(227,444)
Ending Balance, shares at Sep. 30, 2021		24,925,118
Beginning Balance at Dec. 31, 2021	104,624	$ 3		332,484	8,060	(235,923)
Beginning balance, shares at Dec. 31, 2021		24,925,743
Net loss	(21,312)					(21,312)
Share-based compensation	5,495			5,495
Exercise of stock options	$ 1			1
Exercise of stock options, shares	125	125
Vesting of restricted stock units, shares		87,107
Company common stock held by the NQDC			$ (127)	127
Company common stock held by the NQDC, Shares		17,927
Change in classification of deferred compensation share awards	$ (192)			(192)
Change in redemption value of share awards in NQDC plan	80			80
Other comprehensive loss	(710)				(710)
Ending Balance at Sep. 30, 2022	87,986	$ 3	(127)	337,995	7,350	(257,235)
Ending Balance, shares at Sep. 30, 2022		25,030,902
Beginning Balance at Jun. 30, 2022	92,560	$ 3		336,668	7,536	(251,647)
Beginning balance, shares at Jun. 30, 2022		25,003,088
Net loss	(5,588)					(5,588)
Share-based compensation	1,229			1,229
Vesting of restricted stock units, shares		9,887
Company common stock held by the NQDC			(127)	127
Company common stock held by the NQDC, Shares		17,927
Change in redemption value of share awards in NQDC plan	(29)			(29)
Other comprehensive loss	(186)				(186)
Ending Balance at Sep. 30, 2022	$ 87,986	$ 3	$ (127)	$ 337,995	$ 7,350	$ (257,235)
Ending Balance, shares at Sep. 30, 2022		25,030,902

Marketable Securities

9 Months Ended

Sep. 30, 2022

Available For Sale Securities [Abstract]

Marketable Securities

4. Marketable Securities

The following table summarizes the amortized cost and estimated fair values of debt securities available for sale:

	As of September 30, 2022
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	17,425	$	-	$	-		$	17,425
Current marketable securities:
U.S Treasury securities	$	44,875	$	1	$	(539	)	$	44,337
Commercial paper		11,055		-		-			11,055
Corporate debt securities		3,317		-		(33	)		3,284
U.S Government Agency Obligations		1,902		-		(19	)		1,883
Total current marketable securities	$	61,149	$	1	$	(591	)	$	60,559
Long-term marketable securities:
U.S Treasury securities	$	2,887	$	-	$	(21	)	$	2,866
Corporate debt securities		557		-		(12	)		545
Asset backed securities		604		-		(3	)		601
Total Long-term marketable securities	$	4,048	$	-	$	(36	)	$	4,012

	As of December 31, 2021
	Amortized Cost		Gross Unrealized Holding Gains		Gross Unrealized Holding Losses			Carrying Value
(in thousands)
Cash Equivalents:
Money market funds	$	51,112	$	-	$	-		$	51,112
Current marketable securities:
Commercial paper	$	19,586	$	-	$	-		$	19,586
Corporate debt securities		7,068		-		(7	)		7,061
Asset-backed securities		3,002		-		-			3,002
Total current marketable securities	$	29,656	$	-	$	(7	)	$	29,649
Long-term marketable securities:
U.S Treasury securities	$	18,043	$	-	$	(89	)	$	17,954
Corporate debt securities		1,746		-		(8	)		1,738
Total Long-term marketable securities	$	19,789	$	-	$	(97	)	$	19,692

	As of September 30, 2022				As of December 31, 2021
	Amortized Cost		Carrying Value		Amortized Cost		Carrying Value
Due in one year or less	$	61,149	$	60,559	$	29,656	$	29,649
Due after one year through three years	$	4,048	$	4,012	$	19,789	$	19,692

Gross unrealized gains and losses on the Company’s marketable securities were an unrealized gain of $1,000 and an unrealized loss of $627,000 as of September 30, 2022, which resulted in a net unrealized loss of $626,000. Gross unrealized gains and losses on the Company’s marketable securities were an unrealized gain of $0 and an unrealized loss of $104,000 as of December 31, 2021 which resulted in a net unrealized loss of $104,000. As of September 30, 2022, and December 31, 2021, the Company did not recognize credit losses. The Company has accrued interest income of $146,000 and $72,000 as of September 30, 2022, and December 31, 2021, respectively, recorded in prepaids and other current assets.

Other Current and Long-Term Assets and Liabilities

9 Months Ended

Sep. 30, 2022

Other Current And Long Term Assets And Liabilities [Abstract]

Other Current and Long-Term Assets and Liabilities

10. Other Current and Long-Term Assets and Liabilities

Prepaids and other current assets consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
Prepaid expenses	$	862	$	1,124
Lease deposits		16		2
Accrued investment income		146		72
Other receivables		17		15
Total prepaids and other current assets	$	1,041	$	1,213

Prepaid expenses primarily consist of prepaid benefits and insurance.

Other long-term assets consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
BARDA contract costs	$	315	$	504
Long-term lease deposits		121		124
Long-term prepaids		112		10
Total other long-term assets	$	548	$	638

Other current liabilities consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
Operating lease liability	$	702	$	720
Unsettled investment trade payable		480		-
Other current liabilities		437		355
Total other current liabilities	$	1,619	$	1,075

Reporting Segment and Geographic Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reporting segment	1

Share-Based Payment Plans - Summary Of Share Option Activity (Detail)	9 Months Ended
	Sep. 30, 2022 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	1,756,720
Granted	456,300
Exercised	(125)
Expired	(39,525)
Forfeited	(41,175)
Ending balance	2,132,195
Exercisable	1,032,395
Service Only Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	1,129,126
Granted	456,300
Exercised	(125)
Expired	(5,025)
Forfeited	(41,175)
Ending balance	1,539,101
Exercisable	668,137
Performance Based Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	599,994
Expired	(6,900)
Ending balance	593,094
Exercisable	364,258
Market Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	27,600
Expired	(27,600)

Inventory (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Summary Of Composition Of Inventory

The composition of inventory is as follows (in thousands):



	As of September 30, 2022		As of December 31, 2021
Raw materials	$	1,384	$	1,222
Work in process		209		176
Finished goods		367		734
Total inventory	$	1,960	$	2,132

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,588)	$ (5,948)	$ (21,312)	$ (16,663)
Other comprehensive income gain/(loss):
Change in foreign currency translation loss	(96)	(50)	(188)	(80)
Change in net unrealized loss on marketable securities, net of tax	(90)	(10)	(522)	(10)
Comprehensive loss	$ (5,774)	$ (6,008)	$ (22,022)	$ (16,753)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Loss per Share - Additional Information (Detail)	9 Months Ended
Net Loss per Share - Additional Information (Detail)	Sep. 30, 2022 shares
Earnings Per Share [Abstract]
Common stock excluded from calculation of basic and diluted EPS	17,927

Other Current and Long-Term Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Other Current And Long Term Assets And Liabilities [Abstract]

Summary of Prepaids and Other Current Assets

Prepaids and other current assets consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
Prepaid expenses	$	862	$	1,124
Lease deposits		16		2
Accrued investment income		146		72
Other receivables		17		15
Total prepaids and other current assets	$	1,041	$	1,213

Summary of Other Long Term Assets

Other long-term assets consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
BARDA contract costs	$	315	$	504
Long-term lease deposits		121		124
Long-term prepaids		112		10
Total other long-term assets	$	548	$	638

Summary of Other Current Liabilities

Other current liabilities consisted of the following (in thousands):

	As of September 30, 2022		As of December 31, 2021
Operating lease liability	$	702	$	720
Unsettled investment trade payable		480		-
Other current liabilities		437		355
Total other current liabilities	$	1,619	$	1,075