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Collaboration and License Agreements and Acquisition	9 Months Ended
Collaboration and License Agreements and Acquisition	Sep. 30, 2024
Research and Development [Abstract]
Collaboration and License Agreements and Acquisition	Collaboration and License Agreements and Acquisition Collaboration Agreement Amyris Joint Venture In 2021, ImmunityBio and Amyris entered into a 50:50 joint venture arrangement and formed a new limited liability company to conduct the business of the joint venture. The purpose of the joint venture is to accelerate commercialization of a next-generation COVID-19 vaccine utilizing an RNA vaccine-platform. As part of the limited liability agreement, Amyris contributed $1.0 million in cash and rights to its license agreement with AAHI for an RNA platform for the field of COVID-19. ImmunityBio contributed $1.0 million in cash and priority access to its manufacturing capacity for the joint venture product. Both parties agreed to enter into a separate manufacturing and supply agreement and a sublicense agreement following the execution of the joint venture agreement. The joint venture agreement stipulates the initial terms for equal representation in the management of the newly-formed joint venture. The joint venture is managed by a board of directors consisting of four directors: two appointed by the company and two appointed by Amyris. Both parties agreed to make additional capital contributions in cash, in proportion to their respective interests, as determined by the board of directors of the joint venture. We considered the joint venture entity as a VIE and determined that we are not the primary beneficiary of the VIE. We account for our investment in the joint venture using the equity method of accounting. During the three and nine months ended September 30, 2023, we recorded our 50% share of the net loss from the joint venture totaling $1.3 million and $7.5 million in other income (expense), net, on the condensed consolidated statement of operations. Such losses incurred were attributable to expenses incurred by us on behalf of the joint venture. We are not obligated to fund the joint venture’s potential future losses. In August 2023, Amyris announced that it filed for Chapter 11 bankruptcy protection. The Amyris bankruptcy case remains ongoing, and there can be no assurance that we will receive any recovery on account of our claims against Amyris, including for Amyris’ portion of expenses incurred by the joint venture. As of September 30, 2024, the carrying amount of our equity investment in the joint venture was zero. License Agreements 3M IPC and AAHI License Agreement We have licensed rights to 3M-052, a synthetic TLR7/8 agonist, 3M-052 formulations and related technology from 3M IPC and its affiliates and AAHI. In 2021 we obtained nonexclusive rights in the field of SARS-CoV-2 and in June 2022 we modified those rights and expanded the scope of the license to include (1) SARS-CoV-2 and other infectious diseases including malaria, HIV, tuberculosis, hookworm and varicella zoster on an exclusive basis in countries other than LMIC, and (2) oncology applications, when used in combination with our proprietary technology and/or IL-15 agonists. In consideration for the license, we agreed to make certain periodic license payments, including $2.25 million each year through June 2025. We have also agreed to make payments upon the achievement of certain regulatory milestone events and tiered royalties ranging from the low to high single-digits as a percentage of net sales. Beginning in April 2026, the annual minimum licensing payment is $1.0 million, which can be credited against any royalty payments due under this agreement. During the three months ended September 30, 2024 and 2023, we expensed $0.6 million, in research and development expense, on the condensed consolidated statements of operations. During the nine months ended September 30, 2024 and 2023, we expensed $1.7 million and $1.5 million, respectively, in research and development expense, on the condensed consolidated statements of operations. AAHI License Agreements In May 2021, we entered into two license agreements with AAHI pursuant to which we received a license to certain patents and know-how relating to AAHI’s (i) adjuvant formulations for the treatment, prevention and/or diagnosis of SARS-CoV-2 (the AAHI Adjuvant Formulation License Agreement) and (ii) RNA vaccine platform as further described below (the AAHI RNA License Agreement). Under both agreements, we were obligated to pay one-time, non-creditable, non-refundable upfront cash payments totaling $2.0 million. In addition, under the AAHI Adjuvant Formulation License Agreement we owe milestone payments to a total of up to $2.5 million based on the achievement of certain development and regulatory milestones for the first licensed product and royalties on annual net sales of licensed products on a country-by-country and product-by-product basis of a low-single digit percentage, subject to certain royalty-reduction provisions. During the nine months ended September 30, 2024 and 2023, no milestone fees were incurred. In September 2021, we amended and restated the AAHI RNA License Agreement, pursuant to which AAHI granted us an exclusive, worldwide, sublicensable license to AAHI’s rights to an RNA vaccine platform for the development and commercialization of certain therapeutic, diagnostic or prophylactic products for the prevention, treatment or diagnosis of any indication, other than those subject to pre-existing third-party license grants, including, without limitation, SARS-CoV-2. Pursuant to the terms of the amended and restated AAHI RNA License Agreement, we made a one-time, non-creditable, non-refundable, upfront payment to AAHI of $1.5 million and a license maintenance fee of $3.0 million in June 2022. The company is required to pay license maintenance fees to AAHI of $5.5 million annually from 2023 through 2030. The company may terminate the restated agreement without cause by paying AAHI a $10.0 million one-time early termination fee. In addition, the milestone payments to AAHI based on the achievement of certain development and regulatory milestones for the first licensed product were amended to a total of up to $4.0 million. We are required to pay royalties on annual net sales of licensed products on a country-by-country and product-by-product basis of a low- to mid-single digit percentage. As of September 30, 2024, a $1.8 million payable to AAHI in connection with the annual license maintenance fee was recorded in accrued expenses and other liabilities, on the condensed consolidated balance sheet. As of December 31, 2023, $2.3 million was recorded in prepaid expenses and other current assets, on the condensed consolidated balance sheet in connection with the AAHI annual license maintenance fee. During the three months ended September 30, 2024 and 2023, we expensed $1.4 million, and during the nine months ended September 30, 2024 and 2023, we expensed $4.2 million and $3.1 million, respectively, in research and development expense, on the condensed consolidated statements of operations. In connection with the license agreements, in May 2021 we also entered into a sponsored research agreement with AAHI pursuant to which we will fund continued research of at least $2.0 million per year, payable in four equal quarterly installments each year until May 2024, or such year of earlier termination. As of September 30, 2024 and December 31, 2023, we recorded a $2.0 million and a $1.2 million payable to AAHI in connection with the sponsored research agreement, respectively, in accrued expenses and other liabilities, on the condensed consolidated balance sheets. During the three months ended September 30, 2023, we recorded $0.5 million, in research and development expense, on the condensed consolidated statements of operations related to the sponsored research agreement. During the nine months ended September 30, 2024 and 2023, we recorded $0.8 million and $0.7 million, respectively, in research and development expense, on the condensed consolidated statements of operations related to the sponsored research agreement. LadRx Corporation In 2017, we entered into an agreement with LadRx pursuant to which we obtained a royalty-bearing, exclusive, worldwide license, with the right to sublicense, LadRx’s applicable intellectual property to research, develop and commercialize aldoxorubicin for all indications. On June 3, 2024, ImmunityBio, together with NantCell, entered into a mutual termination of the 2017 license agreement with LadRx that became effective immediately. As of the effective date, any licenses granted to us under the agreement were terminated, and we ceased the development, manufacture, and commercialization of aldoxorubicin. Acquisition Dunkirk Facility Leasehold Interest On February 14, 2022, we completed the acquisition of the Dunkirk Facility (approximately 409,000 rentable square feet) from Athenex, which we believe will provide us with a state-of-the-art biotech production center that will substantially expand and diversify our existing manufacturing capacity in the U.S. and the ability to scale production associated with certain of our product candidates. The company accounted for the transaction as an asset acquisition because the Dunkirk Facility’s integrated set of assets and activities did not meet the definition of a business. Upon the closing of the Dunkirk transaction, the company became the tenant of the Dunkirk Facility under the Fort Schuyler Management Corporation Lease, dated October 1, 2021 (the Commencement Date) and as amended as of the February 14, 2022 closing date (as amended, the Dunkirk Lease), with the FSMC as landlord. The Dunkirk Facility, as well as certain equipment, is owned by the FSMC and is leased to us under the Dunkirk Lease. Our annual lease payment will be $2.00 per year for an initial 10-year term, with one option to renew the lease under substantially the same terms and conditions for an additional 10-year term. As part of the transaction, we assumed certain of Athenex’s obligations under various third-party agreements (the Facility Agreements), subject to the terms and conditions of the purchase agreement by and between the company and Athenex dated as of January 7, 2022, and committed to spend an aggregate of $1.52 billion on operational expenses during the initial term, and an additional $1.50 billion on operational expenses if we elect to renew the lease for one additional 10-year term. We also committed to hiring 450 employees at the Dunkirk Facility within the first five years of operations, with 300 such employees to be hired within the first 2.5 years following the Commencement Date. We are eligible for certain sales-tax exemption savings during the development of the Dunkirk Facility, and certain property tax savings over the next 20 years, subject to certain terms and conditions, including performance of certain of the obligations described above. Failure to satisfy the obligations over the lease term may give rise to certain remedies of governmental authorities as we have not satisfied the initial employee count requirement described above. These rights and remedies include, for example, termination of the Dunkirk Lease and other Facility Agreements and potential recoupment of a percentage of the grant funding received by Athenex for construction of the facility and other benefits received, subject to the terms and conditions of the applicable agreements. In November 2024, we received written notice from FSMC alleging non-compliance with the initial employee count requirement described above. We are seeking to resolve this matter expeditiously; however, there can be no assurance that we will succeed in doing so. Although we believe that governmental funding will assist in funding a portion of the further build-out of the Dunkirk Facility, which we estimate to be approximately $8.0 million to $10.0 million of governmental funding remaining available as of September 30, 2024, there can be no assurance as to the final acceptance and timing of the requests for governmental funding that we submit, and we will need to plan and fund most of the additional build-out of, and purchase additional equipment for, the Dunkirk Facility in connection with our planned full operations. In addition, any future governmental funding will be subject to the eligibility of submitted expenses, as well as our compliance with the obligations that we are subject to pursuant to the agreements with parties regarding the Dunkirk Facility as described above. Further, on May 14, 2023, Athenex, together with certain of its subsidiaries, filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Court for the Southern District of Texas (the Athenex Proceedings). We do not know what, if any, impact the Athenex Proceedings will have on any portion of the potential governmental funding remaining for the Dunkirk Facility.

Stock-Based Compensation - Weighted-average Assumption Related to Employee Stock Options (Detail) - Stock options	9 Months Ended
	Sep. 30, 2024 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	5 years 11 months 15 days
Risk-free interest rate	4.30%
Expected volatility	116.80%
Expected dividend yield	0.00%
Weighted-average grant date fair value (in dollars per share)	$ 4.58

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are subject to U.S. federal income tax, as well as income tax in Italy, South Korea, California and other states. From inception through September 30, 2024, we have not been required to pay U.S. federal and state income taxes because of current and accumulated NOLs. The company computes its quarterly income tax provision using a forecasted annual effective tax rate and adjusts for any discrete items arising during the quarter. No tax benefit was provided for losses incurred in the U.S., Italy, and South Korea because those losses are offset by a full valuation allowance. Our federal returns for tax years 2021 through 2023 remain open to examination, and our state returns remain subject to examination for tax years 2020 through 2023. The Italian and South Korean returns for tax years 2019 through 2023 remain open to examination. Carryforward attributes that were generated in years where the statute of limitations is closed may still be adjusted upon examination by the IRS or other respective tax authorities. No income tax returns are currently under examination by taxing authorities.

- Definition

The entire disclosure for income tax.

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+ Details

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in marketable equity securities with readily determinable fair values	$ 400		$ 400		$ 900
Unrealized losses from equity securities	500	$ 600	$ 520	$ 851
Equity Method Investment, Nonconsolidated Investee
Debt and Equity Securities, FV-NI [Line Items]
Payment to acquire other equity security	$ 700

Commitments and Contingencies - Litigation - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 07, 2023	Dec. 02, 2022	Sep. 30, 2024	Dec. 31, 2023	Aug. 31, 2023	Aug. 30, 2023
Litigation [Line Items]
Noncontrolling interests			$ 986	$ 1,050
NANTibody, LLC
Litigation [Line Items]
Percentage of ownership interest					100.00%	60.00%
Sorrento Therapeutics, Inc. Litigation
Litigation [Line Items]
Amount awarded from other party in litigation settlement	$ 176,400
Interest related to litigation settlement (as a percent)	10.00%
Nant Cell Inc \| Sorrento Therapeutics, Inc. Litigation
Litigation [Line Items]
Amount awarded from other party in litigation settlement	$ 159,400	$ 156,800
NANTibody, LLC
Litigation [Line Items]
Noncontrolling interests					$ 4,200
NANTibody, LLC \| Sorrento Therapeutics, Inc. Litigation
Litigation [Line Items]
Amount awarded from other party in litigation settlement		$ 16,700

- Definition

Amount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity.

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-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

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-Subparagraph (SX 210.9-03(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Warrant Liabilities - Carrying Amount (Details) - Outstanding third-party warrants - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Fair Value of Warrants, Carrying Amount [Roll Forward]
Fair value, beginning of period	$ 65,395	$ 109,987	$ 118,770
Warrant exercises	(15,763)	(63,892)	(10,585)
Change in fair value	(31,324)	19,300	1,802
Fair value, end of period	18,308	65,395	109,987
December 2022 Warrants
Fair Value of Warrants, Carrying Amount [Roll Forward]
Fair value, beginning of period	17,273	16,455	17,091
Warrant exercises	0	0	0
Change in fair value	(16,818)	818	(636)
Fair value, end of period	455	17,273	16,455
February 2023 Warrants
Fair Value of Warrants, Carrying Amount [Roll Forward]
Fair value, beginning of period	32,636	54,039	49,958
Warrant exercises	(15,763)	(30,320)	0
Change in fair value	(9,021)	8,917	4,081
Fair value, end of period	7,852	32,636	54,039
July 2023 Warrants
Fair Value of Warrants, Carrying Amount [Roll Forward]
Fair value, beginning of period	15,486	39,493	51,721
Warrant exercises	0	(33,572)	(10,585)
Change in fair value	(5,485)	9,565	(1,643)
Fair value, end of period	$ 10,001	$ 15,486	$ 39,493

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	ATM Offering Program	Registered Direct Offering	Stock Purchase And Option Agreement	Total ImmunityBio Stockholders’ Deficit	Total ImmunityBio Stockholders’ Deficit ATM Offering Program	Total ImmunityBio Stockholders’ Deficit Registered Direct Offering	Total ImmunityBio Stockholders’ Deficit Stock Purchase And Option Agreement	Common Stock	Common Stock ATM Offering Program	Common Stock Registered Direct Offering	Common Stock Stock Purchase And Option Agreement	Additional Paid-in Capital	Additional Paid-in Capital ATM Offering Program	Additional Paid-in Capital Registered Direct Offering	Additional Paid-in Capital Stock Purchase And Option Agreement	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022									421,569,115
Beginning balance at Dec. 31, 2022	$ (449,820)				$ (447,327)				$ 42				$ 1,930,936				$ (2,378,488)	$ 183	$ (2,493)
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Issuance of common stock, net (in shares)											14,072,615
Issuance of common stock, net			$ 24,256				$ 24,256				$ 1				$ 24,255
Stock-based compensation expense	10,878				10,878								10,878
Exercise of stock options (in shares)									81,037
Exercise of stock options	126				126								126
Vesting of restricted stock units (RSUs) (in shares)									313,975
Net share settlement for RSUs vesting (in shares)									(113,638)
Net share settlement for RSUs vesting	(357)				(357)								(357)
Other comprehensive (loss) income, net of tax	(216)				(216)													(216)
Net loss	(116,583)				(116,343)												(116,343)		(240)
Ending balance (in shares) at Mar. 31, 2023									435,923,104
Ending balance at Mar. 31, 2023	(531,716)				(528,983)				$ 43				1,965,838				(2,494,831)	(33)	(2,733)
Beginning balance (in shares) at Dec. 31, 2022									421,569,115
Beginning balance at Dec. 31, 2022	(449,820)				(447,327)				$ 42				1,930,936				(2,378,488)	183	(2,493)
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Increase in fair value of embedded conversion feature from debt modification with entities under common control	31,179
Other comprehensive (loss) income, net of tax	609
Net loss	(350,438)
Ending balance (in shares) at Sep. 30, 2023									667,703,040
Ending balance at Sep. 30, 2023	(410,645)				(411,717)				$ 67				2,315,716				(2,728,292)	792	1,072
Beginning balance (in shares) at Mar. 31, 2023									435,923,104
Beginning balance at Mar. 31, 2023	(531,716)				(528,983)				$ 43				1,965,838				(2,494,831)	(33)	(2,733)
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Issuance of common stock, net (in shares)										4,605,323
Issuance of common stock, net		$ 13,616				$ 13,616				$ 1				$ 13,615
Stock-based compensation expense	11,062				11,062								11,062
Exercise of stock options (in shares)									26,583
Exercise of stock options	135				135								135
Vesting of restricted stock units (RSUs) (in shares)									140,269
Net share settlement for RSUs vesting (in shares)									(21,382)
Net share settlement for RSUs vesting	(60)				(60)								(60)
Other comprehensive (loss) income, net of tax	(7)				(7)													(7)
Net loss	(138,213)				(137,879)												(137,879)		(334)
Ending balance (in shares) at Jun. 30, 2023									440,673,897
Ending balance at Jun. 30, 2023	(645,183)				(642,116)				$ 44				1,990,590				(2,632,710)	(40)	(3,067)
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Conversion of common stock in exchange for notes payable (in shares)									209,291,936
Issuance of common stock in exchange for notes payable	269,987				269,987				$ 21				269,966
Increase in fair value of embedded conversion feature from debt modification with entities under common control	31,179				31,179								31,179
Issuance of common stock, net (in shares)										1,000,000	14,569,296
Issuance of common stock, net		2,490	$ 12,675			2,490	$ 12,675			$ 0	$ 2			2,490	$ 12,673
Stock-based compensation expense	14,449				14,449								14,449
Exercise of stock options (in shares)									75,616
Exercise of stock options	32				32								32
Vesting of restricted stock units (RSUs) (in shares)									3,035,845
Net share settlement for RSUs vesting (in shares)									(943,550)
Net share settlement for RSUs vesting	(1,464)				(1,464)								(1,464)
Change in ownership interest in a joint venture due to legal settlement (Note 8)					(4,199)								(4,199)						4,199
Other comprehensive (loss) income, net of tax	832				832													832
Net loss	(95,642)				(95,582)												(95,582)		(60)
Ending balance (in shares) at Sep. 30, 2023									667,703,040
Ending balance at Sep. 30, 2023	$ (410,645)				(411,717)				$ 67				2,315,716				(2,728,292)	792	1,072
Beginning balance (in shares) at Dec. 31, 2023	670,867,344								670,867,344
Beginning balance at Dec. 31, 2023	$ (585,937)				(586,987)				$ 67				2,374,620				(2,961,684)	10	1,050
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Stock-based compensation expense	8,266				8,266								8,266
Vesting of restricted stock units (RSUs) (in shares)									2,969,156
Net share settlement for RSUs vesting (in shares)									(1,117,737)
Net share settlement for RSUs vesting	(3,867)				(3,867)								(3,867)
Exercise of warrants (in shares)									4,284,648
Exercise of warrants	24,702				24,702				$ 1				24,701
Other comprehensive (loss) income, net of tax	(17)				(17)													(17)
Net loss	(134,130)				(134,109)												(134,109)		(21)
Ending balance (in shares) at Mar. 31, 2024									677,003,411
Ending balance at Mar. 31, 2024	$ (690,983)				(692,012)				$ 68				2,403,720				(3,095,793)	(7)	1,029
Beginning balance (in shares) at Dec. 31, 2023	670,867,344								670,867,344
Beginning balance at Dec. 31, 2023	$ (585,937)				(586,987)				$ 67				2,374,620				(2,961,684)	10	1,050
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Increase in fair value of embedded conversion feature from debt modification with entities under common control	$ 0
Exercise of stock options (in shares)	308,959
Other comprehensive (loss) income, net of tax	$ 93
Net loss	$ (354,466)
Ending balance (in shares) at Sep. 30, 2024	696,831,296								696,831,296
Ending balance at Sep. 30, 2024	$ (744,162)				(745,148)				$ 70				2,570,765				(3,316,086)	103	986
Beginning balance (in shares) at Mar. 31, 2024									677,003,411
Beginning balance at Mar. 31, 2024	(690,983)				(692,012)				$ 68				2,403,720				(3,095,793)	(7)	1,029
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Issuance of common stock, net (in shares)										427,368
Issuance of common stock, net		$ 3,625				$ 3,625								$ 3,625
Stock-based compensation expense	9,639				9,639								9,639
Exercise of stock options (in shares)									146,199			858,990
Exercise of stock options	429			$ 7,554	429			$ 7,554					429			$ 7,554
Vesting of restricted stock units (RSUs) (in shares)									222,578
Net share settlement for RSUs vesting (in shares)									(83,220)
Net share settlement for RSUs vesting	(496)				(496)								(496)
Exercise of warrants (in shares)									13,217,843
Exercise of warrants	107,439				107,439				$ 1				107,438
Other comprehensive (loss) income, net of tax	(1)				(1)													(1)
Net loss	(134,584)				(134,564)												(134,564)		(20)
Ending balance (in shares) at Jun. 30, 2024									691,793,169
Ending balance at Jun. 30, 2024	(697,378)				(698,387)				$ 69				2,531,909				(3,230,357)	(8)	1,009
Increase (Decrease) in Statements of Stockholders’ Deficit [Roll Forward]
Stock-based compensation expense	7,489				7,489								7,489
Exercise of stock options (in shares)									162,760
Exercise of stock options	286				286								286
Vesting of restricted stock units (RSUs) (in shares)									214,875
Net share settlement for RSUs vesting (in shares)									(79,757)
Net share settlement for RSUs vesting	(299)				(299)								(299)
Exercise of warrants (in shares)									4,740,249
Exercise of warrants	31,381				31,381				$ 1				31,380
Other comprehensive (loss) income, net of tax	111				111													111
Net loss	$ (85,752)				(85,729)												(85,729)		(23)
Ending balance (in shares) at Sep. 30, 2024	696,831,296								696,831,296
Ending balance at Sep. 30, 2024	$ (744,162)				$ (745,148)				$ 70				$ 2,570,765				$ (3,316,086)	$ 103	$ 986

Warrant Liabilities

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Warrant Liabilities

December 2022 Warrants

In connection with the December 12, 2022 RDO, the company issued 9,090,909 warrants with an exercise price of $6.60 per share. These warrants were classified as a liability at their fair value upon issuance. The warrants became immediately exercisable on December 12, 2022 and expire on December 12, 2024.

February 2023 Warrants

In connection with the February 15, 2023 RDO, the company issued 14,072,615 warrants with an amended exercise price of $3.2946 per share. These warrants were classified as a liability at their fair value upon issuance. The warrants became immediately exercisable on February 17, 2023 and expire on July 24, 2026.

During the three months ended September 30, 2024, institutional holders exercised a total of 4,740,249 warrants pursuant to the February 2023 Warrant agreement at an exercise price of $3.2946 per share resulting in the issuance of 4,740,249 shares of the company’s common stock for proceeds totaling $15.6 million.

July 2023 Warrants

In connection with the July 20, 2023 RDO, the company issued 14,569,296 warrants with an exercise price of $3.2946 per share. These warrants were classified as a liability at their fair value upon issuance. These warrants became immediately exercisable on July 25, 2023 and expire on July 24, 2026.

Warrant Liabilities

The following table summarizes the change in carrying amount of warrant liabilities measured at fair value during the nine months ended September 30, 2024 (in thousands):


	Total		December 2022 Warrants		February 2023 Warrants		July 2023 Warrants
	(Unaudited)

Fair value, at December 31, 2023	$	118,770	$	17,091	$	49,958	$	51,721
Warrant exercises	(10,585)		—		—		(10,585)
Change in fair value	1,802		(636)		4,081		(1,643)
Fair value, at March 31, 2024	109,987		16,455		54,039		39,493
Warrant exercises	(63,892)		—		(30,320)		(33,572)
Change in fair value	19,300		818		8,917		9,565
Fair value, at June 30, 2024	65,395		17,273		32,636		15,486
Warrant exercises	(15,763)		—		(15,763)		—
Change in fair value	(31,324)		(16,818)		(9,021)		(5,485)
Fair value, at September 30, 2024	$	18,308	$	455	$	7,852	$	10,001

Warrant Exercises

The following table summarizes warrant exercise activity during the nine months ended September 30, 2024:


	Total	December 2022 Warrants	February 2023 Warrants	July 2023 Warrants
	(Unaudited)

Warrants outstanding, at December 31, 2023	37,732,820	9,090,909	14,072,615	14,569,296
Warrant exercises	(4,284,648)	—	—	(4,284,648)
Warrants outstanding, at March 31, 2024	33,448,172	9,090,909	14,072,615	10,284,648
Warrant exercises	(13,217,843)	—	(6,517,843)	(6,700,000)
Warrants outstanding, at June 30, 2024	20,230,329	9,090,909	7,554,772	3,584,648
Warrant exercises	(4,740,249)	—	(4,740,249)	—
Warrants outstanding, at September 30, 2024	15,490,080	9,090,909	2,814,523	3,584,648

Warrant Valuation Assumptions

The estimated fair value of the warrants was computed using the Black-Scholes option pricing model with the following unobservable assumptions at the following dates:


	December 2022 Warrants				February and July 2023 Warrants
	September 30, 2024		December 31, 2023		September 30, 2024		December 31, 2023
	(Unaudited)				(Unaudited)

Exercise price per share	$6.60		$6.60		$3.2946		$3.2946
Expected term	0.2 year		1.0 year		1.8 years		2.6 years
Expected average volatility	84.3	%	119.0	%	161.8	%	107.3	%
Expected dividend yield	—		—		—		—
Risk-free interest rate	4.8	%	4.7	%	3.7	%	4.1	%

The expected term is the time remaining until the expiration of the warrants. The expected average volatility was estimated based on the historical and implied volatility of our common stock. The expected dividend yield was based on our expectation of not paying dividends for the foreseeable future. The risk-free interest rate was based on the U.S. Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued.

Revenue Interest Purchase Agreement (Tables)

9 Months Ended

Sep. 30, 2024

Revenue Interest Purchase Agreement [Abstract]

Summary of Revenue Interest Liability Activity

The following table summarizes the revenue interest liability activity during the nine months ended September 30, 2024 (in thousands):











	(Unaudited)

Revenue interest liability, at December 31, 2023	$	155,415
Proceeds from Second Payment, net of issuance costs	96,956
Embedded contingent derivative liability related to Second Payment	(6,150)
Revenue interest payment	(439)
Accrued revenue interest payment	(279)
Interest expense recognized	28,154
Revenue interest liability, at September 30, 2024	$	273,657

Change in Fair Value of Derivative Liabilities

The change in fair value of the derivative liabilities is as follows (in thousands):


	(Unaudited)

Fair value, at December 31, 2023	$	34,500
Change in fair value	2,630
Fair value, at March 31, 2024	37,130
Embedded contingent derivative liability related to Second Payment	6,150
Change in fair value	(23,440)
Fair value, at June 30, 2024	19,840
Change in fair value	(2,220)
Fair value, at September 30, 2024	$	17,620

Change in Fair Value of Stock Option Purchase Liability

Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at September 30, 2024
	(Unaudited)
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	111,966	$	111,966	$	—	$	—
Equity securities	397		397		—		—
U.S. Treasury securities	18,004		18,004		—		—





Total assets measured at fair value	$	130,367	$	130,367	$	—	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(290)		—		—		(290)
Derivative liabilities (Note 10 and Note 11)	(19,223)		—		—		(19,223)
Warrant liabilities (Note 13)	(18,308)		—		—		(18,308)
Total liabilities measured at fair value	$	(37,841)	$	—	$	—	$	(37,841)


	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	265,453	$	265,453	$	—	$	—
Equity securities	916		916		—		—

Foreign bonds	54		—		54		—
Mutual funds	39		39		—		—
Noncurrent:
Foreign bonds	891		—		891		—
Total assets measured at fair value	$	267,353	$	266,408	$	945	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(819)		—		—		(819)
Derivative liabilities (Note 10 and Note 11)	(35,333)		—		—		(35,333)
Warrant liabilities (Note 13)	(118,770)		—		—		(118,770)
Total liabilities measured at fair value	$	(154,942)	$	—	$	—	$	(154,942)

The change in fair value of the stock option purchase liability is as follows (in thousands):




	(Unaudited)

Fair value, at December 31, 2023	$	819
Change in fair value	127
Fair value, at March 31, 2024	946
Exercise of stock option	(2,705)
Change in fair value	2,079
Fair value, at June 30, 2024	320
Change in fair value	(30)
Fair value, at September 30, 2024	$	290

Revenue Interest Purchase Agreement - Summary of the Revenue Interest Liability Activity (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Long-Term Debt [Roll Forward]
Revenue interest liability, beginning balance				$ 155,415
Proceeds from the RIPA, net of issuance costs				96,956	$ 0
Revenue interest liability, ending balance		$ 273,657		273,657
Revenue Interest Purchase Agreement
Long-Term Debt [Roll Forward]
Revenue interest liability, beginning balance				155,415
Proceeds from the RIPA, net of issuance costs				96,956
Embedded contingent derivative liability related to Second Payment	$ (6,200)		$ (6,150)	(6,150)
Revenue interest payment				(439)
Accrued revenue interest payment				(279)
Interest expense recognized		10,900		28,154
Revenue interest liability, ending balance		$ 273,657		$ 273,657

Lease Arrangements - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease costs	$ 2,558	$ 2,768	$ 7,583	$ 8,611
Short-term lease costs	1,069	997	3,196	3,026
Finance lease costs (including right-of-use asset amortization and interest expense)	18	21	59	66
Variable lease costs	969	977	2,882	2,922
Total lease expense	$ 4,614	$ 4,763	$ 13,720	$ 14,625

Revenue Interest Purchase Agreement

9 Months Ended

Sep. 30, 2024

Revenue Interest Purchase Agreement [Abstract]

Revenue Interest Purchase Agreement

Revenue Interest Liability

On December 29, 2023, we entered into the RIPA with Infinity and Oberland. Pursuant to the RIPA, Oberland acquired certain initial Revenue Interests from us for a gross purchase price of $200.0 million paid on closing, less $7.5 million of issuance costs. Oberland had the option to purchase additional Revenue Interests from us in exchange for a $100.0 million Second Payment upon satisfaction of certain conditions in the RIPA, including receipt of approval by the FDA of our BLA for ANKTIVA on or before June 30, 2024.

On April 22, 2024, the FDA approved our product ANKTIVA and as a result, on May 13, 2024 Oberland purchased additional Revenue Interests from us for a gross purchase price of $100.0 million, less $3.1 million of issuance costs. The issuance costs incurred are being amortized to interest expense over the estimated term of the debt.

As consideration for the aforementioned payments, Oberland has the right to receive quarterly Revenue Interest Payments from us based on, among other things, a certain percentage of our net sales during such quarter, which are tiered payments ranging from 4.5% to 10.0% (before funding of the Second Payment, 3.0% to 7.0%) of the company’s worldwide net sales, excluding those in China.

If the aggregate Revenue Interest Payments made to Oberland as of December 31, 2029 (Test Date) equal or exceed the Cumulative Purchaser Payments ($300.0 million) as of that date, the initially tiered revenue interest rate will be decreased to a single rate of 1.50% (now after the funding of the Second Payment, 2.25%) of the company’s worldwide net sales, excluding those in China. If the aggregate Revenue Interest Payments made to Oberland as of the Test Date are less than the aggregate amount of Cumulative Purchaser Payments as of the Test Date, then following the Test Date the initially tiered revenue interest rate will increase to a rate that, had such increased rate applied during the period from December 29, 2023 through December 31, 2029, it would have resulted in Oberland receiving aggregate Revenue Interest Payments (excluding certain payments detailed in the RIPA) equal to the Cumulative Purchaser Payments as of the Test Date. In addition, if aggregate Revenue Interest Payments made to Oberland as of the Test Date are less than the aggregate amount of Cumulative Purchaser Payments as of the Test Date, then the company must make the True-Up Payment.

Oberland’s rights to receive Revenue Interest Payments under the RIPA shall terminate when Oberland has received payments (including any True-Up Payment) equal to 195.0% of the then Cumulative Purchaser Payments unless the RIPA is terminated prior to such date (subject to certain Call/Put Option scenarios as described below). If Oberland has not received total payments (including any True-Up Payment) equal to 195.0% of the then Cumulative Purchaser Payments on or before the twelfth anniversary of the RIPA, then the company shall be obligated to pay to Oberland an amount equal to 195.0% of the then Cumulative Purchaser Payments less the aggregate payments (including any True-Up Payments) made as of such date.

The company’s obligations under the RIPA are guaranteed by certain of its subsidiaries meeting materiality thresholds set forth in the RIPA. To secure the company’s obligations under the RIPA and the subsidiary guarantors’ obligations under the guarantees, each of the company and the subsidiary guarantors has granted a security interest in substantially all its assets, subject to certain exceptions and limitations.

The RIPA contains affirmative and negative covenants and events of default, including covenants and restrictions that, among other things, restrict our ability to incur additional liens, incur additional indebtedness, make loans and investments, enter into transactions with affiliates, engage in mergers and acquisitions, engage in asset sales and exclusive licensing arrangements, and declare dividends to our stockholders, in each case, subject to certain exceptions set forth in the RIPA. As of September 30, 2024, the company was in compliance with all covenants.

The RIPA is considered a sale of future revenues and is accounted for as long-term debt recorded at amortized cost using the effective interest rate method. The company imputes interest expense associated with this liability using the effective interest rate method. The effective interest rate is calculated based on the rate that would enable the debt to be repaid in full over the anticipated life of the arrangement. The interest rate on this liability may vary during the term of the agreement depending on a number of factors, including the level of forecasted net sales. The company evaluates the interest rate quarterly based on its current net sales forecasts utilizing the prospective method. A significant increase or decrease in actual or forecasted net sales may materially impact the revenue interest liability, interest expense, other income, and the time period for repayment.

During the three and nine months ended September 30, 2024, we recorded $10.9 million and $28.2 million of interest expense, respectively, related to this arrangement.

The following table summarizes the revenue interest liability activity during the nine months ended September 30, 2024 (in thousands):











	(Unaudited)

Revenue interest liability, at December 31, 2023	$	155,415
Proceeds from Second Payment, net of issuance costs	96,956
Embedded contingent derivative liability related to Second Payment	(6,150)
Revenue interest payment	(439)
Accrued revenue interest payment	(279)
Interest expense recognized	28,154
Revenue interest liability, at September 30, 2024	$	273,657

Embedded Derivative Liabilities

Under the RIPA, the company has a Call Option to terminate the RIPA and repurchase the Revenue Interests at any time upon advance written notice, subject to certain limitations set forth in the RIPA. Additionally, Oberland has a Put Option enabling them to terminate the RIPA and to require the company to repurchase the Revenue Interests upon enumerated events, such as a bankruptcy event, failure to make a payment, an uncured material breach, default in certain third-party agreements, a breach or default under any subordination agreements with respect to indebtedness to existing stockholders, or subordinated notes during certain time periods, judgments in excess of certain amounts against the company, a material adverse effect, the loss of regulatory approval of our product candidates or a change of control.

The required purchase price with respect to the Call Option and/or Put Option, as applicable, shall be (a) 120.0% of the Cumulative Purchaser Payments as of such date, if Oberland exercises the Put Option (other than in connection with a change of control) on or prior to the first anniversary the Closing Date, (b) 135.0% of the Cumulative Purchaser Payments as of such date, if the Put Option or the Call Option is exercised in connection with a change of control on or prior to the date that is eighteen (18) months after the Closing Date, and (c) in all other cases, (i) 175.0% of the Cumulative Purchaser Payments as of such date, if the Put Option or the Call Option is exercised no later than the date that is thirty six (36) months after the Closing Date, and (ii) 195.0% of the Cumulative Purchaser Payments as of such date, if the Put Option or the Call Option is exercised later than the date that is thirty six (36) months after the Closing Date, minus, in each case, the total payments made to Oberland on or prior to such date.

The aforementioned Call and Put Options are considered embedded derivatives requiring bifurcation as a single compound derivative instrument. The company estimated the fair value of the derivative liability using a “with-and-without” method. The with-and-without methodology involves valuing the whole instrument on an as-is basis and then valuing the instrument without the individual embedded derivative. The difference between the entire instrument with the embedded derivative compared to the instrument without the embedded derivative is the fair value of the derivative liability.

The company recorded $34.5 million for the initial fair value of the derivative liability upon the closing of the initial $200.0 million Revenue Interests acquired by Oberland. The company recorded an incremental $6.2 million for the fair value of the derivative liability upon the closing of the additional $100.0 million Revenue Interests acquired by Oberland in May 2024. The initial and incremental fair value allocated to the derivative liability is recorded against the RIPA as a debt discount, which is being amortized in interest expense, on the condensed consolidated statement of operations over the expected term of the debt using the effective interest method. The embedded derivative is subsequently remeasured at fair value each reporting period, with the change in fair value being recorded in change in fair value of derivative liabilities, on the condensed consolidated statement of operations.

The estimated probability and timing of underlying events triggering the exercisability of the Put Option contained in the RIPA, forecasted cash flows and the discount rate are significant unobservable inputs used to determine the estimated fair value of the entire instrument with the embedded derivative. As of September 30, 2024 and December 31, 2023, the discount rate used for valuation of the derivative liability was 11.7% and 12.1%, respectively.

The change in fair value of the derivative liabilities is as follows (in thousands):


	(Unaudited)

Fair value, at December 31, 2023	$	34,500
Change in fair value	2,630
Fair value, at March 31, 2024	37,130
Embedded contingent derivative liability related to Second Payment	6,150
Change in fair value	(23,440)
Fair value, at June 30, 2024	19,840
Change in fair value	(2,220)
Fair value, at September 30, 2024	$	17,620

Stock Purchase and Option Agreement

In connection with the RIPA, we entered into an SPOA with Oberland pursuant to which we sold an aggregate of approximately $10.0 million of our common stock at $4.1103 per share in a private placement. Oberland also had an option to purchase up to an additional $10.0 million of our common stock, at a price per share to be determined by reference to the 30-day trailing volume weighted-average price of our common stock calculated from the date of exercise.

This stock purchase option was classified as a liability estimated at fair value at issuance. The initial $200.0 million received pursuant to the RIPA and $10.0 million received pursuant to the SPOA were allocated among the resulting financial instruments on a relative fair value basis, with $197.1 million allocated to the debt under the RIPA, $12.0 million allocated to the common stock issued under the SPOA, and $0.8 million allocated to the stock purchase option as of December 31, 2023.

In April 2024, Oberland exercised part of their option and purchased 858,990 shares of our common stock at an exercise price of $5.8208 per share generating net proceeds of approximately $4.9 million. Following such exercise, approximately $5.0 million remains available for future exercise under the SPOA as of September 30, 2024.

This stock purchase option is classified in accrued expenses and other liabilities, on the condensed consolidated balance sheet at its fair value and is subsequently remeasured at fair value each reporting period, with the change in fair value being recorded in change in fair value of derivative liabilities, on the condensed consolidated statement of operations.

The change in fair value of the stock option purchase liability is as follows (in thousands):




	(Unaudited)

Fair value, at December 31, 2023	$	819
Change in fair value	127
Fair value, at March 31, 2024	946
Exercise of stock option	(2,705)
Change in fair value	2,079
Fair value, at June 30, 2024	320
Change in fair value	(30)
Fair value, at September 30, 2024	$	290

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Summary of Significant Accounting Policies - Securities Excluded from the Computation of Potentially Dilutive Securities (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	195,211	174,353	195,211	174,353
Related-party convertible notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	162,472	116,517	162,472	116,517
Outstanding third-party warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,091	37,733	9,091	37,733
Outstanding stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	15,451	9,862	15,451	9,862
Outstanding RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,559	8,604	6,559	8,604
Outstanding related-party warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,638	1,638	1,638	1,638

Lease Arrangements - Schedule of Cash Paid for Amounts Included in Measurement of Lease Liabilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flow Operating Activities Lessee [Abstract]
Cash paid for operating leases (excluding variable lease costs)	$ 7,868	$ 7,713
Financing cash flow from finance leases	64	57
Operating cash flow from finance leases	$ 2	$ 9

Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as an exit price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires us to use observable inputs when available, and to minimize the use of unobservable inputs, when determining fair value.

The three tiers are defined as follows:

•Level 1—Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets at the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, the valuation of these products does not entail a significant degree of judgment. Our Level 1 assets consist of bank deposits, money market funds, and marketable equity securities.

•Level 2—Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities. Our Level 2 assets consist of corporate debt securities including commercial paper, government-sponsored securities and corporate bonds, as well as foreign municipal securities.

•Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

We utilize a third-party pricing service to assist in obtaining fair value pricing for our investments in marketable debt securities. Inputs are documented in accordance with the fair value disclosure hierarchy. The fair values of financial instruments other than marketable securities and cash and cash equivalents are determined through a combination of management estimates and third-party valuations.

Recurring Valuations

Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at September 30, 2024
	(Unaudited)
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	111,966	$	111,966	$	—	$	—
Equity securities	397		397		—		—
U.S. Treasury securities	18,004		18,004		—		—





Total assets measured at fair value	$	130,367	$	130,367	$	—	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(290)		—		—		(290)
Derivative liabilities (Note 10 and Note 11)	(19,223)		—		—		(19,223)
Warrant liabilities (Note 13)	(18,308)		—		—		(18,308)
Total liabilities measured at fair value	$	(37,841)	$	—	$	—	$	(37,841)


	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	265,453	$	265,453	$	—	$	—
Equity securities	916		916		—		—

Foreign bonds	54		—		54		—
Mutual funds	39		39		—		—
Noncurrent:
Foreign bonds	891		—		891		—
Total assets measured at fair value	$	267,353	$	266,408	$	945	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(819)		—		—		(819)
Derivative liabilities (Note 10 and Note 11)	(35,333)		—		—		(35,333)
Warrant liabilities (Note 13)	(118,770)		—		—		(118,770)
Total liabilities measured at fair value	$	(154,942)	$	—	$	—	$	(154,942)

Financial Instruments - Accumulated Unrealized Losses on Marketable Debt Securities in Continuous Loss Position (Detail) $ in Thousands	Sep. 30, 2024 security	Dec. 31, 2023 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Estimated Fair Value		$ 930
Less than 12 months, Gross Unrealized Losses		(49)
More than 12 months, Estimated Fair Value		0
More than 12 months, Gross Unrealized Losses		0
Number of securities in an unrealized loss position \| security	0
Mutual funds
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Estimated Fair Value		39
Less than 12 months, Gross Unrealized Losses		(1)
More than 12 months, Estimated Fair Value		0
More than 12 months, Gross Unrealized Losses		0
Foreign bonds
Schedule Of Available For Sale Securities [Line Items]
Less than 12 months, Estimated Fair Value		891
Less than 12 months, Gross Unrealized Losses		(48)
More than 12 months, Estimated Fair Value		0
More than 12 months, Gross Unrealized Losses		$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Financial Statement Details (Tables)

9 Months Ended

Sep. 30, 2024

Financial Statement Details [Abstract]

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Prepaid research and development costs	$	9,050	$	7,847
Prepaid services	6,256		5,869
Prepaid software license fees	2,841		2,100
Insurance premium financing asset	2,163		1,475
Prepaid rent	1,463		1,113
Prepaid equipment maintenance	1,338		1,183
Prepaid insurance	1,150		2,242
ERP system implementation cost	293		1,087
Insurance claims receivable	—		1,149





Other	1,367		1,538
Prepaid expenses and other current assets	$	25,921	$	25,603

Summary of Inventories

Inventories consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Raw materials	$	—	$	—
Work-in-progress	1,958		—
Finished goods	—		—
Inventories	$	1,958	$	—

Summary of Property, Plant and Equipment, Net

Property, plant and equipment, net, consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Leasehold improvements	$	72,570	$	72,552
Equipment	73,588		69,915
Construction in progress	85,716		84,436
Furniture & fixtures	1,896		1,889
Software	1,660		1,666

Gross property, plant and equipment	235,430		230,458
Less: Accumulated depreciation and amortization	96,145		84,376
Property, plant and equipment, net	$	139,285	$	146,082

Summary of Goodwill and Intangible Assets, Net

The gross carrying amounts, accumulated amortization and impairment of goodwill and intangible assets, net are as follows at the dates indicated (in thousands):


	September 30, 2024
	(Unaudited)
	Weighted- Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount

Definite-lived: Favorable leasehold rights	7.4	$	20,398	$	(5,355)	$	—	$	15,043
Indefinite-lived:
Goodwill (1)		910		—		—		910
IPR&D		526		—		—		526
Total indefinite-lived assets		1,436		—		—		1,436
Goodwill and intangible assets, net		$	21,834	$	(5,355)	$	—	$	16,479

_______________

(1)

In September 2024, we entered into an asset purchase agreement with an unrelated party pursuant to which the company acquired the rights to hire its workforce and purchase certain office equipment in exchange for consideration of $1.0 million, net of transaction costs. The transaction was accounted for as a business combination. The fair value of the acquired identifiable net assets was $0.1 million. We recognized the remaining $0.9 million as goodwill subject to impairment assessment in subsequent reporting periods.


	December 31, 2023
	Weighted- Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount

Definite-lived: Favorable leasehold rights	8.1	$	20,398	$	(3,825)	$	—	$	16,573


Indefinite-lived: IPR&D		1,406		—		(886)		520
Goodwill and intangible assets, net		$	21,804	$	(3,825)	$	(886)	$	17,093

Summary of Future Amortization Expense Associated with Definite-Lived Intangible Assets

Future amortization expense associated with our definite-lived intangible assets, net is as follows (in thousands):


Years ending December 31:	Definite-lived Intangible Assets (Unaudited)

2024 (excluding the nine months ended September 30, 2024)	$	510
2025	2,040
2026	2,040
2027	2,040
2028	2,040
2029	2,040
Thereafter	4,333
Total	$	15,043

Summary of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)


Accrued professional and service fees	$	11,973	$	9,829
Accrued bonus	9,722		11,350
Accrued research and development costs	7,708		7,700
Accrued compensation	6,969		6,241
Accrued preclinical and clinical trial costs	2,963		4,218

Financing obligation – current portion	2,163		1,475
Accrued construction costs	686		1,179







Other	1,412		716
Accrued expenses and other liabilities	$	43,596	$	42,708

Summary of Interest and Investment Income , Net

Interest and investment income, net consists of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Investment accretion income, net	$	1,675	$	—	$	5,732	$	—
Interest income	638		610		1,631		1,486
Unrealized losses from equity securities	(505)		(593)		(520)		(851)
Net realized (losses) gains on investments	(10)		18		(55)		12
Interest and investment income, net	$	1,798	$	35	$	6,788	$	647

Summary of Interest Expense

Interest expense consists of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Interest expense on related-party notes payable	$	23,123	$	23,548	$	70,987	$	61,750
Amortization of related-party notes discounts	6,199		11,454		17,580		35,278
Other interest expense	—		19		32		44
Interest expense (including amounts with related parties)	$	29,322	$	35,021	$	88,599	$	97,072

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC. The unaudited condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of our financial position and results of operations. Certain items in the prior year’s consolidated financial statements have been reclassified to conform to the current presentation. These reclassifications had no effect on the reported results of operations. The unaudited condensed consolidated financial statements do not include all information and notes required by U.S. GAAP for annual reports and therefore should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report filed with the SEC on March 19, 2024. These interim financials are not necessarily indicative of results expected for the full fiscal year.
Principles of Consolidation	Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the company, its wholly-owned subsidiaries, and a VIE for which the company is the primary beneficiary. Any material intercompany transactions and balances have been eliminated upon consolidation. For consolidated entities where we have less than 100% of ownership, we record net loss attributable to noncontrolling interests, net of tax, on the condensed consolidated statement of operations equal to the percentage of the ownership interest retained in such entities by the respective noncontrolling parties. We assess whether we are the primary beneficiary of a VIE at the inception of the arrangement and at each reporting date. This assessment is based on our power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and our obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. If the entity is within the scope of the variable interest model and meets the definition of a VIE, we consider whether we must consolidate the VIE or provide additional disclosures regarding our involvement with the VIE. If we determine that we are the primary beneficiary of the VIE, we will consolidate the VIE. This analysis is performed at the initial investment in the entity or upon any reconsideration event. For entities we hold as an equity investment that are not consolidated under the VIE model, we consider whether our investment constitutes a controlling financial interest in the entity and therefore should be considered for consolidation under the voting interest model.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to the valuation of equity-based awards, deferred income taxes and related valuation allowances, preclinical and clinical trial accruals, impairment assessments, CVR measurement and assessments, the measurement of right-of-use assets and lease liabilities, useful lives of long-lived assets, loss contingencies, fair value calculation of warrants, stock options, derivative liabilities, convertible promissory notes, fair value measurements, revenue interest liability, revenue recognition, accruals for research and development activities, and the assessment of our ability to fund our operations for at least the next 12 months from the date of issuance of these condensed consolidated financial statements. We base our estimates on historical experience and on various other market-specific and relevant assumptions that we believe to be reasonable under the circumstances. Estimates are assessed each period and updated to reflect current information and anticipated future events, and accordingly, actual results may ultimately differ materially from those estimates.
Revenues	Revenues Product Sales After FDA approval in April 2024, the company began recognizing revenue from the sale of ANKTIVA in accordance with ASC Topic 606, Revenue from Contracts with Customers (ASC 606). Revenue from product sales is recorded at the net sales price (“transaction price”), which includes an estimate of variable consideration. An estimate of variable consideration is based on an amount that reflects the consideration to which we expect to be entitled, net of accruals for estimated rebates, chargebacks, discounts and other deductions and returns established at the time of sale. Where appropriate, these estimates are based on factors such as industry data and forecasted customer buying and payment patterns, our experience, current contractual and statutory requirements, specific known market events and trends. These reductions to gross sales reflect our best estimates of the amount of consideration to which we are entitled based on the terms of the contract. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in future periods vary from our estimates, we adjust these estimates, which would affect product revenue and earnings in the period such variances become known. As we gain more experience, estimates will be more heavily based on the expected utilization from historical data we have accumulated since the ANKTIVA product launch. The company entered into a third-party logistics agreement to engage a 3PL Agent to distribute the company’s products to its customers. The 3PL Agent provides services to the company that include storage, shipping and distribution, processing product returns, as well as customer service, order to cash, and logistics support. The company’s customers are currently limited to pharmaceutical specialty distributors (each a “Customer”) pursuant to a drop-ship arrangement whereby the 3PL Agent will ship products to end customers of such Customers. Our Customers subsequently sell ANKTIVA to hospitals, medical facilities, physician practices, pharmacies and government agencies. Revenue from product sales is recognized when our performance obligations are satisfied, which is upon delivery to the end customer. Other Revenues Prior to the approval of ANKTIVA for commercial sale, we primarily generated revenues from non-exclusive license agreements related to our cell lines, the sale of our bioreactors and related consumables, and grant programs. The company expects to continue to generate revenue from these programs. License Agreements with Third Parties The company has nonexclusive license agreements with a limited number of pharmaceutical and biotechnology companies that grant them the right to use our cell lines and intellectual property for non-clinical use. These agreements generally include upfront fees and annual research license fees for such use, as well as commercial license fees for sales of the licensee products developed or manufactured using our intellectual property and cell lines. Under our license agreements with customers, we typically promise to provide a license to use certain cell lines and related patents, the related know-how, and future research and development data that affect the license. We have concluded that these promises represent a single performance obligation due to the highly interrelated nature of the promises. We provide the cell lines and know-how immediately upon entering into the contracts. Research and development data are provided throughout the term of the contract when and if available. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation based on relative standalone selling price and recognized as revenue when, or as, the performance obligation is satisfied. Our license agreements may include non-refundable upfront payments, event-based milestone payments, sales-based royalty payments, or some combination of these. The event-based milestone payments represent variable consideration, and we use the most likely amount method to estimate this variable consideration. Given the high degree of uncertainty around the achievement of these milestones, we do not recognize revenue from these milestone payments until the uncertainty associated with these payments is resolved. We currently estimate variable consideration related to milestone payments to be zero and, as such, no revenue has been recognized for milestone payments. We recognize revenue from sales-based royalty payments when or as sales occur. On a quarterly basis, we re-evaluate our estimate of milestone variable consideration to determine whether any amount should be included in the transaction price and recorded in revenue prospectively. Other Product and Services Revenue We sell our proprietary GMP-in-a-Box bioreactors and related consumables to affiliated companies and third parties. The arrangements typically include delivery of bioreactors, consumables, and providing installation service and perpetual software licenses for using the equipment. We recognize revenue when customers obtain control and can benefit from the promised goods or services, generally upon installation of the bioreactors, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Upfront payments and fees are recorded as deferred revenue upon receipt and recognized as revenue when we satisfy our performance obligations under these arrangements. Grant Revenue Grant revenue is typically paid for reimbursable costs incurred over the duration of the associated research project or clinical trial and is recognized either when expenses reimbursable under the grants have been incurred and payments under the grants become contractually due or when cash is received, depending on the certainty of payment and other factors specific to each grant.
Cost of Product Revenue	Cost of Product Revenue Cost of product revenue consists primarily of third-party manufacturing costs, distribution, and overhead costs related to sales of approved product subsequent to receiving regulatory approval. Cost of product revenue may also include costs related to excess or obsolete inventory adjustment charges, abnormal costs, unabsorbed manufacturing and overhead costs, and manufacturing variances. All costs associated with the production of ANKTIVA prior to receiving regulatory approval were expensed in research and development expense, on the condensed consolidated statement of operations in the period incurred and therefore are not reflected in cost of product revenue.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable is recorded net of allowances for prompt payment discounts, returns, and credit losses. The company estimates an allowance for credit losses by considering factors such as credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. As of September 30, 2024, the credit profile for the company’s counterparty was deemed to be in good standing, and as such an allowance for credit losses was not recorded.
Inventory	Inventory We began to capitalize inventory costs associated with ANKTIVA during the three months ended June 30, 2024 after receiving FDA approval in April 2024 when it was determined that the inventory had a probable future economic benefit. Inventory is stated at the lower of cost or estimated net realizable value with cost determined using the FIFO method. Inventory costs include the cost of materials, third-party contract manufacturing, third-party packaging services, freight, labor costs for personnel involved in the manufacturing process, and indirect overhead costs. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. The company performs an assessment of the recoverability of capitalized inventory during each reporting period, and it writes down any excess and obsolete inventories to their estimated net realizable value in the period in which the impairment is first identified. Such impairment charges, if they occur, are recorded in cost of product revenue, on the condensed consolidated statement of operations. Because FDA approval was recently received and the company capitalized its first inventory as of June 30, 2024. As of September 30, 2024, no reserve has been established. The company will continue to monitor if a reserve is needed at each reporting period.
Warrants	Warrants The company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, Distinguishing Liabilities from Equity (ASC 480), and ASC Topic 815, Derivatives and Hedging (ASC 815). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the company’s own stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For warrants that meet all criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital, on the condensed consolidated statement of stockholders’ deficit at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and on each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recorded as a non-cash gain or loss in other income (expense), net, on the condensed consolidated statement of operations. The fair value of the warrants was estimated using the Black-Scholes option pricing model.
Fair Value Option Election	Fair Value Option Election The company accounted for a convertible note issued on March 31, 2023 under the FVO election of ASC Topic 825, Financial Instruments (ASC 825) until it was amended and restated on December 29, 2023. Prior to its extinguishment on December 29, 2023, the convertible note was a debt host financial instrument containing embedded features wherein the entire financial instrument was initially measured at its issuance-date fair value and then subsequently remeasured at estimated fair value on a recurring basis at each reporting period date. Changes in the estimated fair value of this convertible note were recorded in other (expense) income, net, on the condensed consolidated statement of operations, except that changes in estimated fair value caused by changes in the instrument-specific credit risk are included in other comprehensive income (loss). In accordance with FASB ASC Topic 470-50, Debt – Modifications and Extinguishments (ASC 470-50), when the convertible note was extinguished on December 29, 2023, the cumulative amount previously recorded in other comprehensive (loss) income resulting from changes in the instrument-specific credit risk were reclassified and reported in current earnings on the condensed consolidated statement of operations. See Note 11, Related-Party Debt, for more information.
Debt Modification and Extinguishment, Revenue Interest Liability	Debt Modification and Extinguishment The company evaluates amendments to its debt instruments in accordance with ASC 470-50. This evaluation includes comparing (1) if applicable, the net present value of future cash flows of the amended debt to that of the original debt and (2) the change in fair value of an embedded conversion feature to that of the carrying amount of the debt immediately prior to amendment to determine, in each case, if a change greater than 10% occurred. In instances where the net present value of future cash flows or the fair value of an embedded conversion feature, if any, changed more than 10%, the company applies extinguishment accounting. In instances where the net present value of future cash flows and the fair value of an embedded conversion feature, if any, changed less than 10%, the company accounts for the amendment to the debt as a debt modification. Gains and losses on debt amendments that are considered extinguishments are recognized in current earnings or in additional paid-in capital if the transactions are with entities under common control. Debt amendments that are considered debt modifications are accounted for prospectively through yield adjustments, based on the revised terms. The increase in fair value of the embedded conversion feature from the debt modification was accounted for as an increase in debt discount with a corresponding increase in additional paid-in capital. Legal fees and other costs incurred with third parties that are directly related to debt modifications are expensed as incurred. Amounts paid by the company to the lenders, are reflected as additional debt discount and amortized as an adjustment of interest expense over remaining term of modified debt using the effective interest method. Revenue Interest Liability On December 29, 2023, we entered into the RIPA with Infinity and Oberland. Pursuant to the RIPA, Oberland acquired certain Revenue Interests (as defined in the RIPA) from us for a gross purchase price of $200.0 million paid on closing and acquired additional Revenue Interests from us for a gross purchase price of $100.0 million paid on May 13, 2024. Under the RIPA, Oberland has the right to receive quarterly payments from us based on, among other things, a certain percentage of our worldwide net sales, excluding those in China, during such quarter. The RIPA is considered a sale of future revenues and is accounted for as a liability net of a debt discount comprised of deferred issuance costs, the fair value of a freestanding option agreement related to the SPOA, and the fair value of embedded derivatives requiring bifurcation on the consolidated balance sheet. The company imputes interest expense associated with this liability using the effective interest rate method. The effective interest rate is calculated based on the rate that would enable the debt to be repaid in full over the anticipated life of the arrangement. Interest expense is recognized over the estimated term on the consolidated statement of operations. The interest rate on this liability may vary during the term of the agreement depending on a number of factors, including the level of actual and forecasted net sales. The company evaluates the interest rate quarterly based on actual and forecasted net sales utilizing the prospective method. A significant increase or decrease in actual or forecasted net sales will materially impact the revenue interest liability, interest expense, and the time period for repayment.
Derivative Liabilities	Derivative Liabilities Embedded derivatives that are required to be bifurcated from the underlying debt instrument that do not meet the derivative scope exception and equity classification criteria are accounted for and valued as separate financial instruments. The terms of an embedded derivative related to a contingent exercisable prepayment feature of a convertible note have been evaluated and deemed to require bifurcation. This embedded derivative was initially measured at fair value and will be remeasured to fair value at each reporting date until the derivative is settled. In addition, the RIPA contains certain features that meet the definition of being an embedded derivative requiring bifurcation as a separate compound financial instrument apart from the RIPA. In May 2024, Oberland acquired additional Revenue Interests for a gross purchase price of $100.0 million, and the company recorded an incremental portion of the fair value of the derivative liability as of the funding date of $6.2 million as a debt discount, which is being amortized in interest expense, on the condensed consolidated statement of operations along with the initial debt discount over the expected term of the debt using the effective interest rate method. The fair value of the derivative liability is subject to remeasurement at each reporting period, with changes in fair value recognized in other income (expense), net, on the condensed consolidated statement of operations.
Basic and Diluted Net Loss per Share of Common Stock	Basic and Diluted Net Loss per Share of Common Stock Basic net loss per share is calculated by dividing the net loss attributable to ImmunityBio common stockholders by the weighted-average number of common shares outstanding for the period. Diluted loss per share is computed by dividing net loss attributable to ImmunityBio common stockholders by the weighted-average number of common shares, including the number of additional shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Application of New or Revised Accounting Standards – Adopted In June 2022, the FASB, issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This ASU also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and introduces certain disclosure requirements for equity securities subject to such restrictions. We adopted this ASU on January 1, 2024 on a prospective basis with no impact on our condensed consolidated financial statements. In March 2023, the FASB issued ASU 2023-01, Leases-Common Control Arrangements (Topic 842). This ASU provides updated guidance for accounting for leasehold improvements associated with common control leases. We adopted this ASU on January 1, 2024 on a prospective basis with no impact on our condensed consolidated financial statements. Application of New or Revised Accounting Standards – Not Yet Adopted In August 2023, the FASB issued ASU 2023-05, Business Combinations-Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement, which requires a joint venture to initially measure all contributions received upon its formation at fair value. This ASU is applicable to joint venture entities with a formation date on or after January 1, 2025 on a prospective basis. We will apply this guidance prospectively in future reporting periods after the guidance is effective to any future arrangements meeting the definition of a joint venture. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. We are currently evaluating the impact of this standard on our disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to improve its income tax disclosure requirements. Under the ASU, entities must annually (1) disclose specific categories in the rate reconciliation, (2) provide additional information for reconciling items that meet a quantitative threshold, and (3) disclose more detailed information about income taxes paid, including by jurisdiction; pretax income (or loss) from continuing operations; and income tax expense (or benefit). The ASU is effective for fiscal years beginning after December 15, 2024, and interim periods beginning after December 15, 2025, with early adoption permitted. We are currently evaluating the impact of this standard on our disclosures. Other recent authoritative guidance issued by the FASB (including technical corrections to the ASC), and the SEC during the nine months ended September 30, 2024 did not, or are not expected to, have a material effect on our condensed consolidated financial statements.
Fair Value Measurements	Fair Value Measurements Fair value is defined as an exit price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires us to use observable inputs when available, and to minimize the use of unobservable inputs, when determining fair value. The three tiers are defined as follows: •Level 1—Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets at the measurement date. Since valuations are based on quoted prices that are readily and regularly available in an active market, the valuation of these products does not entail a significant degree of judgment. Our Level 1 assets consist of bank deposits, money market funds, and marketable equity securities. •Level 2—Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities. Our Level 2 assets consist of corporate debt securities including commercial paper, government-sponsored securities and corporate bonds, as well as foreign municipal securities. •Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. We utilize a third-party pricing service to assist in obtaining fair value pricing for our investments in marketable debt securities. Inputs are documented in accordance with the fair value disclosure hierarchy. The fair values of financial instruments other than marketable securities and cash and cash equivalents are determined through a combination of management estimates and third-party valuations.

Description of Business	9 Months Ended
Description of Business	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business In these notes to unaudited condensed consolidated financial statements, the terms “ImmunityBio,” “the company,” “we,” “us,” and “our” refer to ImmunityBio, Inc. and its subsidiaries. Our Business ImmunityBio is a vertically-integrated biotechnology company developing next-generation therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. The company’s range of immunotherapy and cell therapy platforms, alone and together, act to drive and sustain an immune response with the goal of creating durable and safe protection against disease. We are applying our science and platforms to treating cancers, including the development of potential cancer vaccines, as well as developing immunotherapies and cell therapies that we believe sharply reduce or eliminate the need for standard high-dose chemotherapy. These platforms and their associated product candidates are designed to be more effective, accessible, and easily administered than current standards of care in oncology and infectious diseases. Our platforms and their associated product and product candidates are designed to attack cancer and infectious pathogens by activating both the innate immune system, including—NK cells, dendritic cells, and macrophages, as well as—the adaptive immune system comprising—B and T cells,—in an orchestrated manner. The goal of this potentially best-in-class approach is to generate immunogenic cell death thereby eliminating rogue cells from the body whether they are cancerous or virally-infected. Our ultimate goal is to overcome the limitations of current treatments, such as checkpoint inhibitors, and/or reduce the need for standard high-dose chemotherapy in cancer by employing this coordinated approach to establish “immunological memory” that confers long-term benefit for the patient. Our proprietary platforms for the development of biologic product candidates include: (i) antibody-cytokine fusion proteins, (ii) DNA, RNA, and recombinant protein vaccines, and (iii) cell therapies. As of September 2024, our platforms have generated nine first-in-human therapeutic agents (including one FDA-approved agent) that are currently or planned to be studied in clinical trials in liquid and solid tumors. Specifically, our clinical focus includes bladder, lung, and colorectal cancers and GBM, which are among the most frequent and lethal cancer types, and where there are high failure rates for existing standards of care or no available effective treatment. Our lead biologic product ANKTIVA is a novel first-in-class IL-15 agonist antibody-cytokine fusion protein. On April 22, 2024, the FDA approved our product, ANKTIVA with BCG for the treatment of adult patients with BCG-unresponsive NMIBC with CIS, with or without papillary tumors (the “approved product”). We began commercial distribution of our approved product in May 2024.

Warrant Liabilities - Warrant Valuation Assumptions (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
December 2022 Warrants \| Exercise price per share
Class of Warrant or Right [Line Items]
Measurement input	6.60	6.60
December 2022 Warrants \| Expected term
Class of Warrant or Right [Line Items]
Measurement input	0.2	1.0
December 2022 Warrants \| Expected average volatility
Class of Warrant or Right [Line Items]
Measurement input	0.843	1.190
December 2022 Warrants \| Expected dividend yield
Class of Warrant or Right [Line Items]
Measurement input	0	0
December 2022 Warrants \| Risk-free interest rate
Class of Warrant or Right [Line Items]
Measurement input	0.048	0.047
February 2023 Warrants \| Exercise price per share
Class of Warrant or Right [Line Items]
Measurement input	3.2946	3.2946
February 2023 Warrants \| Expected term
Class of Warrant or Right [Line Items]
Measurement input	1.8	2.6
February 2023 Warrants \| Expected average volatility
Class of Warrant or Right [Line Items]
Measurement input	1.618	1.073
February 2023 Warrants \| Expected dividend yield
Class of Warrant or Right [Line Items]
Measurement input	0	0
February 2023 Warrants \| Risk-free interest rate
Class of Warrant or Right [Line Items]
Measurement input	0.037	0.041
July 2023 Warrants \| Exercise price per share
Class of Warrant or Right [Line Items]
Measurement input	3.2946	3.2946
July 2023 Warrants \| Expected term
Class of Warrant or Right [Line Items]
Measurement input	1.8	2.6
July 2023 Warrants \| Expected average volatility
Class of Warrant or Right [Line Items]
Measurement input	1.618	1.073
July 2023 Warrants \| Expected dividend yield
Class of Warrant or Right [Line Items]
Measurement input	0	0
July 2023 Warrants \| Risk-free interest rate
Class of Warrant or Right [Line Items]
Measurement input	0.037	0.041

Financial Statement Details - Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial Statement Details [Abstract]
Prepaid research and development costs	$ 9,050	$ 7,847
Prepaid services	6,256	5,869
Prepaid software license fees	2,841	2,100
Insurance premium financing asset	2,163	1,475
Prepaid rent	1,463	1,113
Prepaid equipment maintenance	1,338	1,183
Prepaid insurance	1,150	2,242
ERP system implementation cost	293	1,087
Insurance claims receivable	0	1,149
Other	1,367	1,538
Prepaid expenses and other current assets	$ 25,921	$ 25,603

Lease Arrangements - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Lessee Lease Description [Line Items]
Operating lease payments related to options to extend lease terms	$ 11.5
Minimum
Lessee Lease Description [Line Items]
Initial term of lease arrangement	2 years
Optional extended lease term	1 year
Maximum
Lessee Lease Description [Line Items]
Initial term of lease arrangement	10 years
Optional extended lease term	10 years

Related-Party Debt (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Related-Party Debt

Our related-party debt is summarized below (in thousands):


	Balances as of September 30, 2024
	(Unaudited)
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	13,857	$	111,143

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	22,025	$	357,975
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	22,025	$	587,975


	Balances as of December 31, 2023
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	20,414	$	104,586

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	33,049	$	346,951
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	33,049	$	576,951

_______________

(1)

The discounts on our $505 million December 2023 Promissory Note were based on imputed interest rates of 23.65% for Tranche 1 and 18.04% for Tranche 2, respectively, calculated as of December 2023.

Change in Fair Value of Contingently Exercisable Prepayment Feature Embedded Derivative

The change in fair value of the contingently exercisable prepayment feature embedded derivative is as follows (in thousands):


	(Unaudited)

Fair value, at December 31, 2023	$	833
Change in fair value	(33)
Fair value, at March 31, 2024	800
Change in fair value	167
Fair value, at June 30, 2024	967
Change in fair value	636
Fair value, at September 30, 2024	$	1,603

Schedule of Unobservable Assumptions, Estimated Fair Value of Convertible Note

As of September 30, 2023, the estimated fair value of the convertible note was computed using a binomial lattice model with the following unobservable assumptions:


	September 30, 2023
	(Unaudited)

Expected market yield	25.2	%
Volatility	100.8	%
Risk-free rate	5.4	%

Summary of Estimated Future Contractual Obligations for Related-Party Debt

The following table summarizes the estimated future contractual obligations for our related-party debt as of September 30, 2024 (in thousands):


	Principal Payments				Interest Payments (1)
	Convertible Notes		Nonconvertible Note		Convertible Notes		Nonconvertible Note		Total
	(Unaudited)

2024 (excluding the nine months ended September 30, 2024)	$	—	$	—	$	19,010	$	3,968	$	22,978
2025	410,000		125,000		75,421		15,742		626,163
2026	200,000		—		17,876		—		217,876
Total	$	610,000	$	125,000	$	112,307	$	19,710	$	867,017

_______________

(1)

Interest payments on our promissory notes are calculated based on Term SOFR plus the contractual spread per the loan agreements. The weighted-average interest rate on our promissory notes as of September 30, 2024 was 12.40%.

Revenues - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,106	$ 82	$ 7,193	$ 483
Product revenue, net
Disaggregation of Revenue [Line Items]
Total revenue	5,954	0	6,944	0
Other revenues
Disaggregation of Revenue [Line Items]
Total revenue	$ 152	$ 82	$ 249	$ 483

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Basic and Diluted Loss Per Common Share

The following table reflects the calculation of basic and diluted loss per common share (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Net loss per ImmunityBio common share – basic
Numerator:
Net loss attributable to ImmunityBio common stockholders	$	(85,729)	$	(95,582)	$	(354,402)	$	(349,804)
Denominator:
Weighted-average number of common shares outstanding – basic	695,895		498,375		685,261		454,994
Net loss per ImmunityBio common share – basic	$	(0.12)	$	(0.19)	$	(0.52)	$	(0.77)

Net loss per ImmunityBio common share – diluted
Numerator:
Net loss	$	(85,752)	$	(95,642)	$	(354,466)	$	(350,438)
Less: Net loss attributable to noncontrolling interests, net of tax	(23)		(60)		(64)		(634)
Add: Increase (decrease) in fair value of warrant liabilities	(14,505)		—		(10,553)		—
Numerator for net loss per ImmunityBio common share – diluted	$	(100,234)	$	(95,582)	$	(364,955)	$	(349,804)
Denominator:
Weighted-average number of common shares outstanding – basic	695,895		498,375		685,261		454,994
Add: Dilutive effect of assumed exercise of “in-the-money” third-party warrants	2,066		—		3,679		—
Denominator for net loss per ImmunityBio common share – diluted	697,961		498,375		688,939		454,994
Net loss per ImmunityBio common share – diluted	$	(0.14)	$	(0.19)	$	(0.53)	$	(0.77)

Summary of Securities Excluded from the Computation of Potentially Dilutive Securities

The following table details the number of shares of common stock underlying those securities that were excluded from the computation of weighted-average number of common shares outstanding – diluted (shares in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
	(Unaudited)		(Unaudited)

Related-party convertible notes	162,472	116,517	162,472	116,517
Outstanding third-party warrants	9,091	37,733	9,091	37,733
Outstanding stock options	15,451	9,862	15,451	9,862
Outstanding RSUs	6,559	8,604	6,559	8,604
Outstanding related-party warrants	1,638	1,638	1,638	1,638
Total	195,211	174,353	195,211	174,353

Financial Statement Details

9 Months Ended

Sep. 30, 2024

Financial Statement Details [Abstract]

Financial Statement Details

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Prepaid research and development costs	$	9,050	$	7,847
Prepaid services	6,256		5,869
Prepaid software license fees	2,841		2,100
Insurance premium financing asset	2,163		1,475
Prepaid rent	1,463		1,113
Prepaid equipment maintenance	1,338		1,183
Prepaid insurance	1,150		2,242
ERP system implementation cost	293		1,087
Insurance claims receivable	—		1,149





Other	1,367		1,538
Prepaid expenses and other current assets	$	25,921	$	25,603

Inventories

Inventories consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Raw materials	$	—	$	—
Work-in-progress	1,958		—
Finished goods	—		—
Inventories	$	1,958	$	—

Inventory is stated at the lower of cost or net realizable value and consists of raw materials, work-in-progress and finished goods. Cost is determined using a standard cost method, which approximates actual cost, and assumes a FIFO flow of goods. Inventory that is used for clinical development purposes is expensed in research and development expense, on the condensed consolidated statement of operations when consumed.

Cost of product revenue consists primarily of third-party manufacturing costs, distribution, and overhead costs related to sales of approved product subsequent to receiving regulatory approval. Cost of product revenue may also include costs related to excess or obsolete inventory adjustment charges, abnormal costs, unabsorbed manufacturing and overhead costs, and manufacturing variances. All costs associated with the production of ANKTIVA prior to receiving regulatory approval were expensed in research and development expense, on the condensed consolidated statement of operations in the period incurred and therefore are not reflected in cost of product revenue.

The work-in-progress materials consists of bulk drug substance and drug product, which have a multi-year shelf life. When the bulk drug substance is manufactured into ANKTIVA drug product, those goods have a shelf life of two years from the date of manufacture. During September 2024, the shelf life of ANKTIVA drug product was extended to three years. The work-in-progress drug product gets converted to finished goods at the time of labeling. Our expectation is to sell finished goods at least twelve months prior to expiration. Due to our long manufacturing lead time, it was necessary to build up inventory in support of ANKTIVA forecasted sales. As a result of being in the early stages of the ANKTIVA product launch, the company is continuing to evaluate the length of its operating cycle.

On a quarterly basis, the company analyzes its inventory levels for excess quantities and obsolescence (expiration), taking into account factors such as historical and anticipated future sales compared to quantities on hand and the remaining shelf life. As of September 30, 2024, we determined that a reserve related to ANKTIVA inventory for excess quantities and obsolescence was not required. In addition, since the FDA approval of ANKTIVA the company has not recorded any inventory write downs.

Property, Plant and Equipment, Net

Property, plant and equipment, net, consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Leasehold improvements	$	72,570	$	72,552
Equipment	73,588		69,915
Construction in progress	85,716		84,436
Furniture & fixtures	1,896		1,889
Software	1,660		1,666

Gross property, plant and equipment	235,430		230,458
Less: Accumulated depreciation and amortization	96,145		84,376
Property, plant and equipment, net	$	139,285	$	146,082

During the three months ended September 30, 2024 and 2023, depreciation expense related to property, plant and equipment totaled $3.9 million and $4.1 million, respectively, and $11.9 million and $12.4 million during the nine months ended September 30, 2024 and 2023, respectively.

Goodwill and Intangible Assets, Net

The gross carrying amounts, accumulated amortization and impairment of goodwill and intangible assets, net are as follows at the dates indicated (in thousands):


	September 30, 2024
	(Unaudited)
	Weighted- Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount

Definite-lived: Favorable leasehold rights	7.4	$	20,398	$	(5,355)	$	—	$	15,043
Indefinite-lived:
Goodwill (1)		910		—		—		910
IPR&D		526		—		—		526
Total indefinite-lived assets		1,436		—		—		1,436
Goodwill and intangible assets, net		$	21,834	$	(5,355)	$	—	$	16,479

_______________

(1)


	December 31, 2023
	Weighted- Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment		Net Carrying Amount

Definite-lived: Favorable leasehold rights	8.1	$	20,398	$	(3,825)	$	—	$	16,573


Indefinite-lived: IPR&D		1,406		—		(886)		520
Goodwill and intangible assets, net		$	21,804	$	(3,825)	$	(886)	$	17,093

We recorded amortization expense of our definite-lived intangible assets totaling $0.5 million during the three months ended September 30, 2024 and 2023 and $1.5 million during the nine months ended September 30, 2024 and 2023 in research and development expense, on the condensed consolidated statements of operations.

Future amortization expense associated with our definite-lived intangible assets, net is as follows (in thousands):


Years ending December 31:	Definite-lived Intangible Assets (Unaudited)

2024 (excluding the nine months ended September 30, 2024)	$	510
2025	2,040
2026	2,040
2027	2,040
2028	2,040
2029	2,040
Thereafter	4,333
Total	$	15,043

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)


Accrued professional and service fees	$	11,973	$	9,829
Accrued bonus	9,722		11,350
Accrued research and development costs	7,708		7,700
Accrued compensation	6,969		6,241
Accrued preclinical and clinical trial costs	2,963		4,218

Financing obligation – current portion	2,163		1,475
Accrued construction costs	686		1,179







Other	1,412		716
Accrued expenses and other liabilities	$	43,596	$	42,708

Interest and Investment Income, Net

Interest and investment income, net consists of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Investment accretion income, net	$	1,675	$	—	$	5,732	$	—
Interest income	638		610		1,631		1,486
Unrealized losses from equity securities	(505)		(593)		(520)		(851)
Net realized (losses) gains on investments	(10)		18		(55)		12
Interest and investment income, net	$	1,798	$	35	$	6,788	$	647

Interest income includes interest from marketable securities, convertible notes receivable, other assets, and on bank deposits.

Interest Expense

Interest expense consists of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Interest expense on related-party notes payable	$	23,123	$	23,548	$	70,987	$	61,750
Amortization of related-party notes discounts	6,199		11,454		17,580		35,278
Other interest expense	—		19		32		44
Interest expense (including amounts with related parties)	$	29,322	$	35,021	$	88,599	$	97,072

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Marketable Debt Securities

As of September 30, 2024, the weighted-average remaining contractual life, amortized cost, gross unrealized gains, gross unrealized losses and fair value of marketable debt securities, which were considered as available-for-sale, by type of security were as follows (in thousands):


	September 30, 2024
	(Unaudited)
	Weighted- Average Remaining Contractual Life (in years)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Current:
U.S. Treasury securities	0.1	$	17,999	$	5	$	—	$	18,004

As of September 30, 2024, no marketable debt securities were in an unrealized loss position.

As of December 31, 2023, the weighted-average remaining contractual life, amortized cost, gross unrealized gains, gross unrealized losses and fair value of marketable debt securities, which were considered as available-for-sale, by type of security were as follows (in thousands):


	December 31, 2023
	Weighted- Average Remaining Contractual Life (in years)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Current:

Foreign bonds	0.8	$	54	$	—	$	—	$	54
Mutual funds		40		—		(1)		39
Current portion		94		—		(1)		93
Noncurrent:
Foreign bonds	3.3	939		—		(48)		891

Total		$	1,033	$	—	$	(49)	$	984

Summary of Accumulated Unrealized Losses on Marketable Debt Securities Classified as Available-for-Sale in a Continuous Loss Position

Accumulated unrealized losses on marketable debt securities that have been in a continuous loss position for less than 12 months and more than 12 months as of December 31, 2023 were as follows (in thousands):


	December 31, 2023
	Less than 12 months				More than 12 months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses


Mutual funds	$	39	$	(1)	$	—	$	—
Foreign bonds	891		(48)		—		—
Total	$	930	$	(49)	$	—	$	—

Financial Statement Details - Intangible Assets, Net (Detail) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Total definite-lived intangible assets
Accumulated Amortization	$ (5,355)	$ (3,825)
Net Carrying Amount	15,043
Indefinite-lived intangible assets
Goodwill, gross	910
Goodwill impairment	0
Goodwill, net	910
IPR&D, gross	526	1,406
IPR&D, impairment	0	(886)
Net Carrying Amount	526	520
Total indefinite-lived assets, gross	1,436
Total indefinite-lived assets, impairment	0
Total indefinite-lived assets, net	1,436
Total intangible assets, gross	21,834
Goodwill and intangible assets, net		21,804
Accumulated Amortization	(5,355)	(3,825)
Accumulated Impairment	0	(886)
Total intangible assets, net	16,479	$ 17,093
Business combination, goodwill	910
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024 (excluding the nine months ended September 30, 2024)	510
2025	2,040
2026	2,040
2027	2,040
2028	2,040
2029	2,040
Thereafter	4,333
Net Carrying Amount	15,043
Acquisition of Workforce and Office Equipment
Indefinite-lived intangible assets
Business combination, consideration transferred	1,000
Office Equipment
Indefinite-lived intangible assets
Business combination, fair value of net assets	100
Acquisition of Workforce
Indefinite-lived intangible assets
Goodwill, net	900
Business combination, goodwill	$ 900
Favorable Leasehold Rights
Total definite-lived intangible assets
Weighted- Average Life (in years)	7 years 4 months 24 days	8 years 1 month 6 days
Gross Carrying Amount	$ 20,398	$ 20,398
Accumulated Amortization	(5,355)	(3,825)
Accumulated Impairment	0	0
Net Carrying Amount	15,043	16,573
Indefinite-lived intangible assets
Accumulated Amortization	(5,355)	(3,825)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	$ 15,043	$ 16,573

Commitments and Contingencies - Contingent Consideration Related to Business Combinations - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Apr. 30, 2015	Sep. 30, 2024	Dec. 31, 2017
Altor BioScience Corporation \| Contingent Value Rights Payable, Sales Milestone
Business Acquisition [Line Items]
Potential contingent value rights to be earned			$ 304.0
Minimum net sales milestone for contingent value rights payable			$ 1,000.0
Altor BioScience Corporation \| Contingent Value Rights Payable, Sales Milestone \| Dr. Soon-Shiong and Related Party
Business Acquisition [Line Items]
Potential contingent value rights to be earned		$ 139.8
Altor BioScience Corporation \| Contingent Value Rights Payable, Sales Milestone \| Altor Stockholders
Business Acquisition [Line Items]
Potential contingent value rights to be earned		164.2
VivaBioCell
Business Acquisition [Line Items]
Ownership percentage acquired	100.00%
Business combination, consideration transferred	$ 0.7
Maximum milestone payment due if certain conditions are met		$ 2.2

Stockholders’ Deficit	9 Months Ended
Stockholders’ Deficit	Sep. 30, 2024
Equity [Abstract]
Stockholders’ Deficit	Stockholders’ Deficit Stock Repurchases During the nine months ended September 30, 2024 and 2023, no shares of our common stock were repurchased under the company’s 2015 Share Repurchase Program. As of September 30, 2024, $18.3 million remained authorized to use for share repurchases under the program. Shelf Registration Statements During February 2023, we filed a $750.0 million shelf registration statement with the SEC on Form S-3 for the offering and sale of equity and equity-linked securities, including common stock, preferred stock, debt securities, depositary shares, warrants to purchase common stock, preferred stock or debt securities, subscription rights, purchase contracts, and units. As of September 30, 2024, we had $565.6 million available for use under the shelf. During April 2024, we filed a shelf registration statement with the SEC on Form S-3 pursuant to which we may, from time to time, sell up to an indeterminate amount of our common stock, preferred stock, debt securities, depositary shares, warrants, subscription rights, purchase contracts, or units. On May 2, 2024, the registration statement was declared effective by the SEC. Amounts available for use as of September 30, 2024 under these shelf registration statements are in addition to the amount available under the ATM described below. Open Market Sale Agreement In April 2021, we entered into the ATM under which we may offer and sell, from time to time at our sole discretion, shares of our common stock through our sales agent. We pay our sales agent a commission of up to 3.0% of the gross sales proceeds of any shares of our common stock sold through them under the ATM, and also have provided them with customary indemnification and contribution rights. In April 2024, the company filed a shelf registration statement and associated prospectus that increased the amount available under the ATM by $92.0 million. We received net proceeds totaling $2.5 million during the three months ended September 30, 2023 and $3.6 million and $16.1 million during the nine months ended September 30, 2024 and 2023, respectively, from the issuance of shares under the ATM. As of September 30, 2024, we had $296.5 million available for future stock issuances under the ATM. We are not obligated to sell any shares and may at any time suspend solicitation and offers under the ATM. The ATM may be terminated by us at any time given written notice to the sales agent for any reason or by the sales agent at any time by giving written notice to us for any reason or immediately under certain circumstances and shall automatically terminate upon the issuance and sale of all of the shares. Stock Purchase and Option Agreement On December 29, 2023 and in connection with the RIPA, we entered into an SPOA with Oberland. Under this agreement, Oberland had an option to purchase up to $10.0 million of our common stock, at a price per share to be determined by reference to the 30-day trailing volume weighted-average price of our common stock, calculated from the date of exercise. The option is exercisable by Oberland at any time until the earliest of (i) December 29, 2028, (ii) a change of control of the company, or (iii) a sale of substantially all of the company’s assets. Among other limitations, the option may only be exercised to the extent that the common stock issuable pursuant to such exercise would not exceed 19.9% of the common stock outstanding immediately after giving effect to such exercise. Pursuant to the SPOA, in April 2024 Oberland exercised its option to purchase 858,990 shares of our common stock at an exercise price of $5.8208 per share generating net proceeds of approximately $4.9 million. Following such exercise, approximately $5.0 million remains available for future exercise under the SPOA.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,350,000,000	1,350,000,000
Common stock, shares issued (in shares)	696,831,296	670,867,344
Common stock, shares outstanding (in shares)	696,831,296	670,867,344
Treasury stock, common shares (in shares)	163,800	163,800

Financial Statement Details - Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financial Statement Details [Line Items]
Other interest expense	$ 0	$ 19	$ 32	$ 44
Interest expense (including amounts with related parties)	29,322	35,021	88,599	97,072
Affiliated Entity
Financial Statement Details [Line Items]
Interest expense on related-party notes payable	23,123	23,548	70,987	61,750
Amortization of related-party notes discounts	$ 6,199	$ 11,454	$ 17,580	$ 35,278

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References + Details

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	$ 6,106	$ 82	$ 7,193	$ 483
Operating costs and expenses
Cost of product revenue	0	0	0	0
Research and development (including amounts with related parties)	50,443	48,402	154,923	180,834
Selling, general and administrative (including amounts with related parties)	35,916	31,816	127,052	96,510
Total operating costs and expenses	86,359	80,218	281,975	277,344
Loss from operations	(80,253)	(80,136)	(274,782)	(276,861)
Other income (expense), net
Interest and investment income, net	1,798	35	6,788	647
Fair Value Adjustment of Warrants	31,324	14,265	10,222	31,800
Interest expense (including amounts with related parties)	(29,322)	(35,021)	(88,599)	(97,072)
Interest expense related to revenue interest liability	(10,925)	0	(28,154)	0
Change in fair value of derivative liabilities	1,614	0	20,084	0
Change in fair value of related-party convertible note	0	7,517	0	749
Loss on equity method investment	0	(1,255)	0	(7,549)
Other income (expense), net (including amounts with related parties)	12	(1,047)	(25)	(2,152)
Total other expense, net	(5,499)	(15,506)	(79,684)	(73,577)
Loss before income taxes and noncontrolling interests	(85,752)	(95,642)	(354,466)	(350,438)
Income tax expense	0	0	0	0
Net loss	(85,752)	(95,642)	(354,466)	(350,438)
Net loss attributable to noncontrolling interests, net of tax	(23)	(60)	(64)	(634)
Net loss attributable to ImmunityBio common stockholders	$ (85,729)	$ (95,582)	$ (354,402)	$ (349,804)
Net loss per ImmunityBio common share – basic (in dollars per share)	$ (0.12)	$ (0.19)	$ (0.52)	$ (0.77)
Net loss per ImmunityBio common share - diluted (in dollars per share)	$ (0.14)	$ (0.19)	$ (0.53)	$ (0.77)
Weighted-average number of common shares used in computing net loss per share – basic (in shares)	695,895	498,375	685,261	454,994
Weighted-average number of common shares used in computing net loss per share – diluted (in shares)	697,961	498,375	688,939	454,994
Product revenue, net
Total revenue	$ 5,954	$ 0	$ 6,944	$ 0
Other revenues
Total revenue	$ 152	$ 82	$ 249	$ 483

Financial Statement Details - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financial Statement Details [Abstract]
Depreciation expense related to property, plant and equipment	$ 3.9	$ 4.1	$ 11.9	$ 12.4
Amortization expense	$ 0.5	$ 0.5	$ 1.5	$ 1.5

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at September 30, 2024
	(Unaudited)
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	111,966	$	111,966	$	—	$	—
Equity securities	397		397		—		—
U.S. Treasury securities	18,004		18,004		—		—





Total assets measured at fair value	$	130,367	$	130,367	$	—	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(290)		—		—		(290)
Derivative liabilities (Note 10 and Note 11)	(19,223)		—		—		(19,223)
Warrant liabilities (Note 13)	(18,308)		—		—		(18,308)
Total liabilities measured at fair value	$	(37,841)	$	—	$	—	$	(37,841)


	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3

Assets at Fair Value:
Current:
Cash and cash equivalents	$	265,453	$	265,453	$	—	$	—
Equity securities	916		916		—		—

Foreign bonds	54		—		54		—
Mutual funds	39		39		—		—
Noncurrent:
Foreign bonds	891		—		891		—
Total assets measured at fair value	$	267,353	$	266,408	$	945	$	—

Liabilities at Fair Value:
Current:
Contingent consideration	$	(20)	$	—	$	—	$	(20)
Noncurrent:
Stock option purchase liability (Note 10)	(819)		—		—		(819)
Derivative liabilities (Note 10 and Note 11)	(35,333)		—		—		(35,333)
Warrant liabilities (Note 13)	(118,770)		—		—		(118,770)
Total liabilities measured at fair value	$	(154,942)	$	—	$	—	$	(154,942)

The change in fair value of the stock option purchase liability is as follows (in thousands):




	(Unaudited)

Fair value, at December 31, 2023	$	819
Change in fair value	127
Fair value, at March 31, 2024	946
Exercise of stock option	(2,705)
Change in fair value	2,079
Fair value, at June 30, 2024	320
Change in fair value	(30)
Fair value, at September 30, 2024	$	290

Lease Arrangements - Summary of Information Regarding Leases (Detail)	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term, operating leases	5 years 6 months	6 years 2 months 12 days
Weighted average remaining lease term, finance leases	0 years	9 months 18 days
Weighted average discount rate, operating leases	10.90%	10.90%
Weighted average discount rate, finance leases	0.00%	11.70%

Warrant Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Changes in Carrying Amount of Warrant Liabilities

The following table summarizes the change in carrying amount of warrant liabilities measured at fair value during the nine months ended September 30, 2024 (in thousands):


	Total		December 2022 Warrants		February 2023 Warrants		July 2023 Warrants
	(Unaudited)

Fair value, at December 31, 2023	$	118,770	$	17,091	$	49,958	$	51,721
Warrant exercises	(10,585)		—		—		(10,585)
Change in fair value	1,802		(636)		4,081		(1,643)
Fair value, at March 31, 2024	109,987		16,455		54,039		39,493
Warrant exercises	(63,892)		—		(30,320)		(33,572)
Change in fair value	19,300		818		8,917		9,565
Fair value, at June 30, 2024	65,395		17,273		32,636		15,486
Warrant exercises	(15,763)		—		(15,763)		—
Change in fair value	(31,324)		(16,818)		(9,021)		(5,485)
Fair value, at September 30, 2024	$	18,308	$	455	$	7,852	$	10,001

The estimated fair value of the warrants was computed using the Black-Scholes option pricing model with the following unobservable assumptions at the following dates:


	December 2022 Warrants				February and July 2023 Warrants
	September 30, 2024		December 31, 2023		September 30, 2024		December 31, 2023
	(Unaudited)				(Unaudited)

Exercise price per share	$6.60		$6.60		$3.2946		$3.2946
Expected term	0.2 year		1.0 year		1.8 years		2.6 years
Expected average volatility	84.3	%	119.0	%	161.8	%	107.3	%
Expected dividend yield	—		—		—		—
Risk-free interest rate	4.8	%	4.7	%	3.7	%	4.1	%

Schedule of Warrant Exercise Activity

The following table summarizes warrant exercise activity during the nine months ended September 30, 2024:


	Total	December 2022 Warrants	February 2023 Warrants	July 2023 Warrants
	(Unaudited)

Warrants outstanding, at December 31, 2023	37,732,820	9,090,909	14,072,615	14,569,296
Warrant exercises	(4,284,648)	—	—	(4,284,648)
Warrants outstanding, at March 31, 2024	33,448,172	9,090,909	14,072,615	10,284,648
Warrant exercises	(13,217,843)	—	(6,517,843)	(6,700,000)
Warrants outstanding, at June 30, 2024	20,230,329	9,090,909	7,554,772	3,584,648
Warrant exercises	(4,740,249)	—	(4,740,249)	—
Warrants outstanding, at September 30, 2024	15,490,080	9,090,909	2,814,523	3,584,648

Revenue Interest Purchase Agreement - Stock Option Purchase Liability (Details) - Stock Purchase And Option Agreement - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Revenue Recognition, Milestone Method [Line Items]
Fair value, beginning of period	$ 320	$ 946	$ 819
Change in fair value	(30)	2,079	127
Warrant exercises		(2,705)
Fair value, end of period	$ 290	$ 320	$ 946

Related-Party Debt - Unobservable Assumptions (Details) - Convertible Notes	Sep. 30, 2023
Expected market yield
Related Party Transaction [Line Items]
Measurement input	0.252
Volatility
Related Party Transaction [Line Items]
Measurement input	1.008
Risk-free rate
Related Party Transaction [Line Items]
Measurement input	0.054

Financial Statement Details - Interest and Investment Income (Loss), Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financial Statement Details [Abstract]
Investment accretion income, net	$ 1,675	$ 0	$ 5,732	$ 0
Interest income	638	610	1,631	1,486
Unrealized losses from equity securities	(505)	(593)	(520)	(851)
Net realized (losses) gains on investments	(10)	18	(55)	12
Interest and investment income, net	$ 1,798	$ 35	$ 6,788	$ 647

- Definition

Amount of unrealized gain (loss) on investment in debt and equity securities.

+ References + Details

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 08, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-37507
Entity Registrant Name	IMMUNITYBIO, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	43-1979754
Entity Address, Address Line One	3530 John Hopkins Court
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	844
Local Phone Number	696-5235
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	IBRX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		696,831,296
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001326110
Current Fiscal Year End Date	--12-31

Related-Party Agreements

9 Months Ended

Sep. 30, 2024

Related-Party Agreements

Related-Party Debt

Our related-party debt is summarized below (in thousands):


	Balances as of September 30, 2024
	(Unaudited)
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	13,857	$	111,143

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	22,025	$	357,975
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	22,025	$	587,975


	Balances as of December 31, 2023
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	20,414	$	104,586

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	33,049	$	346,951
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	33,049	$	576,951

_______________

(1)

The discounts on our $505 million December 2023 Promissory Note were based on imputed interest rates of 23.65% for Tranche 1 and 18.04% for Tranche 2, respectively, calculated as of December 2023.

$505 million December 2023 Promissory Note

On December 29, 2023 in connection with the RIPA, the company and Nant Capital entered into an amended and restated promissory note. Pursuant to the terms of the amended and restated promissory note, the amended promissory note has an aggregate principal amount of $505.0 million, comprised of Tranche 1 with a principal amount of $125.0 million, and Tranche 2 with a principal amount of $380.0 million. The maturity date of the amended promissory note is December 31, 2025.

$125.0 million principal amount of Tranche 1 of the promissory note bears an interest rate of Term SOFR plus 8.0% per annum, payable on a quarterly basis. The company may prepay the outstanding principal amount, at any time, in whole or in part, without penalty.

$380.0 million principal amount of Tranche 2 of the promissory note bears an interest rate of Term SOFR plus 7.5% per annum, payable on a quarterly basis. The Tranche 2 promissory note provides that the noteholder has the sole option to convert all (but not less than all) of the outstanding principal amount of $380.0 million and accrued but unpaid interest into shares of the company’s common stock at a conversion price of $8.2690 per share, subject to appropriate adjustment from time to time for any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event. In addition, the noteholder can request up to $50.0 million of the Tranche 2 principal amount and accrued interest to be repaid upon consummation of a specified transaction.

The amended and restated December 2023 promissory note includes an embedded derivative related to a contingently exercisable prepayment feature, which allows the noteholder to request up to a $50.0 million prepayment and accrued interest upon occurrence of a specified transaction (defined in the promissory note). The fair value of the derivative liability is determined at each period end using the with-and-without method, which assesses the likelihood and timing of a specified transaction that if triggered could result in a repayment. This embedded derivative is recorded as a derivative liability on the condensed consolidated balance sheet and is measured at fair value. Changes in the fair value of the derivative liability are reported as change in fair value of derivative liabilities, on the condensed consolidated statement of operations. The fair value of the embedded derivative is remeasured to fair value at each reporting date until the derivative is settled.

The change in fair value of the contingently exercisable prepayment feature embedded derivative is as follows (in thousands):


	(Unaudited)

Fair value, at December 31, 2023	$	833
Change in fair value	(33)
Fair value, at March 31, 2024	800
Change in fair value	167
Fair value, at June 30, 2024	967
Change in fair value	636
Fair value, at September 30, 2024	$	1,603

$30 million March 2023 Promissory Note

On March 31, 2023, the company executed a $30.0 million promissory note with Nant Capital. This note bears interest at Term SOFR plus 8.0% per annum, payable on a quarterly basis. The outstanding principal amount and any accrued and unpaid interest was originally due on December 31, 2023. The company may prepay the outstanding promissory note, at any time, in whole or in part, without penalty. Upon receipt of a written notice of prepayment from the company, the noteholder may choose to convert the outstanding principal amount to be prepaid and the accrued and unpaid interest thereon into shares of the company’s common stock at a price of $2.28 per share. Additionally, the noteholder may at its option convert the entire outstanding principal amount of the promissory note and accrued interest into shares of the company’s common stock at a conversion price of $2.28 per share, at the option of the noteholder.

On September 11, 2023, the company and Nant Capital entered into a letter agreement pursuant to which the maturity date of the $30.0 million promissory note described above was extended from December 31, 2023 to December 31, 2024.

On December 29, 2023 in connection with the RIPA, the company and Nant Capital entered into a letter agreement pursuant to which the maturity date of this promissory note was extended to December 31, 2025.

Prior to December 29, 2023, the $30.0 million March 2023 promissory note was accounted for under the ASC 825-10-15-4 FVO election. Under the FVO election, the note was initially measured at its issue-date estimated fair value and subsequently remeasured at estimated fair value on a recurring basis at each reporting period date. On December 29, 2023, all outstanding promissory notes were modified and accounted for as a debt extinguishment. After the debt extinguishment, the note is accounted for under the amortized cost basis. As of September 30, 2023, the estimated fair value of the convertible note was computed using a binomial lattice model with the following unobservable assumptions:


	September 30, 2023
	(Unaudited)

Expected market yield	25.2	%
Volatility	100.8	%
Risk-free rate	5.4	%

$200 million September 2023 Promissory Note

On September 11, 2023, the company executed a $200.0 million convertible promissory note with Nant Capital. The note bears interest at Term SOFR plus 8.0% per annum, payable on a monthly basis. The outstanding principal amount and any accrued and unpaid interest are due on September 11, 2026. We may prepay the outstanding principal amount, together with any accrued interest, at any time, in whole or in part, without premium or penalty upon five (5) days written notice to the noteholder. The noteholder has the sole option to convert all (but not less than all) of the outstanding principal amount and accrued but unpaid interest into shares of the company’s common stock at a conversion price of $1.9350 per share.

In connection with the RIPA transaction, all outstanding related-party promissory notes became subordinated to the RIPA payment obligations.

The following table summarizes the estimated future contractual obligations for our related-party debt as of September 30, 2024 (in thousands):


	Principal Payments				Interest Payments (1)
	Convertible Notes		Nonconvertible Note		Convertible Notes		Nonconvertible Note		Total
	(Unaudited)

2024 (excluding the nine months ended September 30, 2024)	$	—	$	—	$	19,010	$	3,968	$	22,978
2025	410,000		125,000		75,421		15,742		626,163
2026	200,000		—		17,876		—		217,876
Total	$	610,000	$	125,000	$	112,307	$	19,710	$	867,017

_______________

(1)

Related-Party Agreements

We conduct business with several affiliates under written agreements and informal arrangements. Below is a summary of outstanding balances and a description of significant relationships (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Due from related party–NantWorks	$	536	$	541
Due from related party–Brink	125		62
Due from related party–NantBio	—		1,294
Due from related parties–Various	68		122
Total due from related parties	$	729	$	2,019

Due to related party–Duley Road	$	133	$	136
Due to related party–the Clinic	235		57
Due to related party–NantBio	—		943
Due to related party–Various	18		—
Total due to related parties	$	386	$	1,136

Our Executive Chairman and Global Chief Scientific and Medical Officer founded and has a controlling interest in NantWorks, which is a collection of companies in the healthcare and technology space. As described below, we have entered into arrangements with NantWorks, and certain affiliates of NantWorks, to facilitate the development of new immunotherapies for our product pipeline. Affiliates of NantWorks are also affiliates of the company due to the common control by and/or common ownership interest of our Founder, Executive Chairman, Global Chief Scientific and Medical Officer, and principal stockholder.

NantWorks, LLC

Shared Services Agreement

Under the amended and restated shared services agreement with NantWorks dated as of June 2016, but effective as of August 2015, NantWorks, a related party, provides corporate, general and administrative, certain research and development, and other support services to us, and we provide certain of such services to them. The receiving party is charged for the services at cost plus reasonable allocations of employee benefits, facilities, and other direct or fairly allocated indirect costs that relate to the employees providing the services. During the three months ended September 30, 2024 and 2023, we recorded $0.7 million and $0.5 million, respectively, in selling, general and administrative expense, and $0.9 million and $0.6 million of expense reimbursements, respectively, under this arrangement in research and development expense, on the condensed consolidated statements of operations. During the nine months ended September 30, 2024 and 2023, we recorded $1.7 million and $2.4 million, respectively, in selling, general and administrative expense, and $2.2 million and $1.6 million of expense reimbursements, respectively, under this arrangement in research and development expense, on the condensed consolidated statements of operations. These amounts exclude certain general and administrative expenses provided by third-party vendors directly for our benefit, which were reimbursed to NantWorks based on those vendors’ invoiced amounts without markup by NantWorks.

As of September 30, 2024 and December 31, 2023, we had a receivable of $0.5 million and $0.5 million, respectively, for all agreements with NantWorks, which are included in due from/due to related parties, on the condensed consolidated balance sheets. We also recorded $1.3 million and $1.0 million of prepaid expenses for various services that we expect will be passed through to the company from NantWorks as of September 30, 2024 and December 31, 2023, respectively, which are included in prepaid expenses and other current assets, on the condensed consolidated balance sheets.

Facility License Agreement

In 2015, we entered into a facility license agreement with NantWorks for approximately 9,500 rentable square feet of office space in Culver City, California, which was converted to a research and development laboratory and a cGMP manufacturing facility. In 2020, we amended this agreement to extend the term of this license agreement through December 31, 2021. Commencing on January 1, 2022, the license fee increased by 3% to approximately $56,120 per month.

On May 6, 2022, we amended our facility license agreement with NantWorks to expand the licensed premises by 36,830 rentable square feet to an aggregate total of 46,330 rentable square feet. Effective May 1, 2022, the license fee is approximately $273,700 per month, which is subject to a 3% increase commencing on January 1 of each year. The space continues to be rented on a month-to-month basis, which can be terminated by either party with at least 30 days’ prior written notice to the other party. We recorded license fee expense for this facility totaling $0.9 million and $0.8 million during the three months ended September 30, 2024 and 2023, respectively, and $2.6 million and $2.5 million during the nine months ended September 30, 2024 and 2023, respectively, in research and development expense, on the condensed consolidated statements of operations.

Immuno-Oncology Clinic, Inc.

We have entered into multiple agreements with the Clinic to conduct clinical trials related to certain of our product candidates. The Clinic is a related party as it is owned by an officer of the company and NantWorks manages the administrative operations of the Clinic.

In 2021, we completed a review of alternative structures that could support our more complex clinical trial requirements and made a decision to explore a potential transition of clinical trials at the Clinic to a new structure (including contracting with a new, non-affiliated professional corporation) to be determined and agreed upon by all parties. We continue discussions with potential partners around alternative structures.

Related to clinical trial and transition services provided by the Clinic, we recorded $0.7 million and $0.5 million during the three months ended September 30, 2024 and 2023, respectively, and $2.1 million and $1.9 million, respectively, during the nine months ended September 30, 2024 and 2023 in research and development expense, on the condensed consolidated statements of operations. As of September 30, 2024 and December 31, 2023, we owed the Clinic $0.2 million and $0.1 million, respectively, which are included in due to related parties, on the condensed consolidated balance sheets.

NantBio, Inc.

In August 2018, we entered into a supply agreement with NCSC, a 100% owned subsidiary of NantBio. Under this agreement, we agreed to supply VivaBioCell’s proprietary GMP-in-a-Box bioreactors and related consumables, made according to specifications mutually agreed to with both companies. The agreement has an initial term of five years and renews automatically for successive one-year terms unless terminated by either party in the event of material default upon prior written notice of such default and the failure of the defaulting party to remedy the default within 30 days of the delivery of such notice, or upon 90 days’ prior written notice by NCSC.

During the three and nine months ended September 30, 2024 and 2023, we recognized no revenue. As of September 30, 2024 and December 31, 2023, we recorded $0.1 million of deferred revenue for bioreactors that were delivered but not installed in accrued expenses and other liabilities, on the condensed consolidated balance sheets. As of December 31, 2023, we recorded a payable of $0.9 million in due to related parties, on the condensed consolidated balance sheets related to this agreement. The payable was settled as of June 30, 2024.

In 2018, we entered into a shared service agreement pursuant to which we are charged for services at cost, without mark-up or profit by NantBio, but including reasonable allocations of employee benefits that relate to the employees providing the services. In April 2019, we agreed with NantBio to transfer certain NantBio employees and associated research and development projects to the company. As of December 31, 2023, we recorded a receivable of $1.3 million in due from related parties on the condensed consolidated balance sheets for amounts we paid on behalf of NantBio during the year ended December 31, 2019. The receivable was settled as of June 30, 2024.

605 Doug St, LLC

In September 2016, we entered into a lease agreement with 605 Doug St, LLC, an entity owned by our Founder, Executive Chairman and Global Chief Scientific and Medical Officer, for approximately 24,250 rentable square feet in El Segundo, California, which has been converted to a research and development laboratory and a cGMP manufacturing facility. The lease term was from July 2016 through July 2023. In June 2023, we exercised the option to extend the lease for one additional three-year term through July 2026. The base rent is approximately $72,385 per month, with annual increases of 3% that began in July 2017. We recorded lease expense for this facility of $0.2 million during the three months ended September 30, 2024 and 2023, and $0.7 million during the nine months ended September 30, 2024 and 2023 in research and development expense, on the condensed consolidated statements of operations.

Duley Road, LLC

In February 2017, we entered into a lease agreement with Duley Road, a related party that is indirectly controlled by our Founder, Executive Chairman and Global Chief Scientific and Medical Officer, for approximately 11,980 rentable square feet of office and cGMP manufacturing facility space in El Segundo, California. The lease term was originally from February 2017 through October 2024. We had and continue to have the option to extend the initial term for two consecutive five-year periods through October 2034. The base rent is approximately $40,700 per month, with annual increases of 3%. Effective October 3, 2023, we exercised the first option to extend the lease for one additional five-year term through October 31, 2029.

Effective in January 2019, we entered into two lease agreements with Duley Road for a second building located in El Segundo, California. The first lease is for the first floor of the building with approximately 5,650 rentable square feet. The lease has a seven-year term commencing in September 2019. The second lease is for the second floor of the building with approximately 6,488 rentable square feet. The lease has a seven-year term commencing in July 2019. Both floors of the building are used for research and development and office space. We have options to extend the initial terms of both leases for two consecutive five-year periods through 2036. The base rent for the two leases is approximately $35,800 per month, with annual increases of 3%.

During the three months ended September 30, 2024 and 2023, we recorded rent expense for these leases totaling $0.2 million in research and development expense, on the condensed consolidated statements of operations. During the nine months ended September 30, 2024 and 2023, we recorded rent expense for these leases totaling $0.7 million and $0.6 million, respectively, in research and development expense, on the condensed consolidated statements of operations. As of September 30, 2024 and December 31, 2023, we recorded $0.1 million of lease-related payables to Duley Road in due to related parties, on the condensed consolidated balance sheets.

605 Nash, LLC

In February 2021, but effective on January 1, 2021, we entered into a lease agreement with 605 Nash, a related party, whereby we leased approximately 6,883 rentable square feet (the Initial Premises) in a two-story mixed-use building containing approximately 64,643 rentable square feet at 605-607 Nash Street in El Segundo, California. This facility is used primarily for pharmaceutical development and manufacturing purposes. The lease term commenced in January 2021 and was originally set to expire in December 2027 and included an option to extend the lease for one three-year term through December 2030. The base rent is approximately $20,300 per month with an annual increase of 3% on January 1 of each year during the initial term and, if applicable, during the option term. In addition, under the agreement, we are required to pay our share of estimated property taxes and operating expenses.

In May 2021, but effective on April 1, 2021, we entered into an amendment to our Initial Premises lease with 605 Nash. The amendment expanded the leased square feet by approximately 57,760 rentable square feet (the Expansion Premises). The lease term of the Expansion Premises commenced in April 2021 and expires in March 2028, whereby the company has one option to extend the initial term for three years. Per the terms of the amendment, the term of the Initial Premises lease was extended for an additional three months and now expires on March 31, 2028. Base rent for the Expansion Premises is approximately $170,400 per month with annual increases of 3% on April 1 of each year. We are responsible for the build out of the facility space and associated costs.

We recorded rent expense for the Initial and Expansion Premises leases totaling $0.5 million during the three months ended September 30, 2024 and 2023, and $1.6 million during the nine months ended September 30, 2024 and 2023 in research and development expense, on the condensed consolidated statements of operations. The terms of the initial and amended leases provided for tenant improvement allowances totaling $2.9 million for costs and expenses related to improvements made by us to the Initial and Expansion Premises, which was received from the landlord in 2023.

420 Nash, LLC

On September 27, 2021, we entered into a lease agreement with 420 Nash, LLC, a related party, whereby we leased an approximately 19,125 rentable square foot property located at 420 Nash Street, El Segundo, California, to be used primarily for the warehousing and storage of drug manufacturing supplies, products and equipment and ancillary office space.

Under the terms of the lease agreement, the lease term began on October 1, 2021 and expires on September 30, 2026. The base rent is approximately $38,250 per month with an annual increase of 3% on October 1 of each year beginning in 2022 during the initial term. The company is responsible for the payment of real property taxes, repairs and maintenance, improvements, insurance and operating expenses during the term of the lease.

The company has options to extend the lease term for two additional consecutive periods of five years each. At the beginning of each option term, the initial monthly base rent will be adjusted to market rent (as defined in the lease agreement) with an annual increase of 3% during the option term. We have included the first option to extend the lease term for five years as part of the initial term of the lease as it is reasonably certain that we will exercise the option, which implies lease expiration in September 2031. We recorded rent expense of $0.1 million for this lease during the three months ended September 30, 2024 and 2023, and $0.4 million during the nine months ended September 30, 2024 and 2023 in research and development expense, on the condensed consolidated statements of operations.

23 Alaska, LLC

On May 6, 2022, we entered into a lease agreement with 23 Alaska, LLC, a related party, for a 47,265 rentable square foot facility located at 2335 Alaska Ave., El Segundo, California, to be used primarily for pharmaceutical development and manufacturing, research and development, and office space.

Under the terms of the agreement, the lease term began on May 1, 2022 and was to expire on April 30, 2027. The base rent was approximately $139,400 per month with an annual increase of 3% on May 1 of each year beginning in 2023 during the initial term. We were also required to pay $7,600 per month for parking during the initial term. The company was responsible for the payment of real property taxes, repairs and maintenance, improvements, insurance, and operating expenses during the term of the lease.

Effective August 31, 2023, we executed a lease termination agreement with the lessor under which we received a full refund of the security deposit totaling $0.1 million that we paid upon execution of the lease. During the three and nine months ended September 30, 2023, we recorded $0.3 million and $1.2 million of rent expense for this lease, respectively, in research and development expense, on the condensed consolidated statements of operations.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (c)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Related-Party Debt - Summary of Related-Party Promissory Notes (Detail) - Affiliated Entity - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 29, 2023
Nonconvertible Note \| $505 Million Promissory Note, December 2023
Related Party Transaction [Line Items]
Face amount		$ 505,000,000	$ 505,000,000
Nonconvertible Note \| $505 Million Promissory Note, December 2023, Tranche 1
Related Party Transaction [Line Items]
Face amount	$ 505,000,000	$ 505,000,000
Interest rate spread	8.00%	8.00%
Principal Amount	$ 125,000,000	$ 125,000,000
Less: Unamortized Discounts	13,857,000	20,414,000
Total	111,143,000	104,586,000
Effective interest rate			23.65%
Nonconvertible Note \| $505 Million Promissory Note, December 2023, Tranche 2
Related Party Transaction [Line Items]
Effective interest rate			18.04%
Convertible Notes
Related Party Transaction [Line Items]
Principal Amount	610,000,000	610,000,000
Less: Unamortized Discounts	22,025,000	33,049,000
Total	587,975,000	576,951,000
Convertible Notes \| $505 Million Promissory Note, December 2023, Tranche 2
Related Party Transaction [Line Items]
Face amount	$ 505,000,000	$ 505,000,000
Interest rate spread	7.50%	7.50%
Principal Amount	$ 380,000,000	$ 380,000,000
Less: Unamortized Discounts	22,025,000	33,049,000
Total	357,975,000	346,951,000
Convertible Notes \| $30 Million March 2023 Promissory Note
Related Party Transaction [Line Items]
Face amount	$ 30,000,000	$ 30,000,000
Interest rate spread	8.00%	8.00%
Principal Amount	$ 30,000,000	$ 30,000,000
Less: Unamortized Discounts	0	0
Total	30,000,000	30,000,000
Convertible Notes \| $200 Million September 2023 Promissory Note
Related Party Transaction [Line Items]
Face amount	$ 200,000,000	$ 200,000,000
Interest rate spread	8.00%	8.00%
Principal Amount	$ 200,000,000	$ 200,000,000
Less: Unamortized Discounts	0	0
Total	$ 200,000,000	$ 200,000,000

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingent Consideration Related to Business Combinations VivaBioCell, S.p.A. In April 2015, NantWorks, a related party, acquired a 100% interest in VivaBioCell through its wholly-owned subsidiary, VBC Holdings for $0.7 million, less working capital adjustments. In June 2015, NantWorks contributed its equity interest in VBC Holdings to the company, in exchange for cash consideration equal to its cost basis in the investment. VivaBioCell develops bioreactors and products based on cell culture and tissue engineering in Italy. In connection with our acquisition of VBC, we are obligated to pay the former owners contingent consideration upon the achievement of certain milestones related to the GMP-in-a-Box technology. If a government agency unconditionally approves the GMP-in-a-Box technology for commercial sale (the regulatory milestone) in the future, we will be obligated to pay an additional approximately $2.2 million to the former owners. Altor BioScience Corporation In connection with our 2017 acquisition of Altor, we issued CVRs under which we agreed to pay the prior stockholders of Altor approximately $304.0 million of contingent consideration upon calendar-year worldwide net sales of ANKTIVA exceeding $1.0 billion prior to December 31, 2026, with amounts payable in cash or shares of our common stock or a combination thereof. As the transaction was recorded as an asset acquisition, future CVR payments will be recorded when the corresponding events are probable of achievement or the consideration becomes payable. As of September 30, 2024, Dr. Soon-Shiong, our Founder, Executive Chairman and Global Chief Scientific and Medical Officer, and his related party hold approximately $139.8 million of net sales CVRs, and they have both irrevocably agreed to receive shares of the company’s common stock in satisfaction of their CVRs. We may be required to pay the other prior Altor stockholders up to $164.2 million for their net sales CVRs should they choose to have their CVRs paid in cash instead of common stock. Litigation From time to time, we may be involved in various claims and legal proceedings relating to claims arising out of our operations. We are not currently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. If we are served with any such complaints, we will assess at that time any contingencies for which we may need to reserve. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors. Sorrento Therapeutics, Inc. Litigation Sorrento, derivatively on behalf of NANTibody filed an action in the Superior Court of California, Los Angeles County (the Superior Court) against the company’s subsidiary NantCell, Dr. Soon-Shiong, and Charles Kim. The action alleged that the defendants improperly caused NANTibody to acquire IgDraSol from NantPharma and sought to have the transaction undone and the purchase amount returned to NANTibody. In 2019, we filed a demurrer to several causes of action alleged in the Superior Court action, and Sorrento filed an amended complaint, eliminating Mr. Kim as a defendant and dropping the causes of action we had challenged in our demurrer. Trial had been set to commence in Sorrento’s Superior Court action on August 7, 2023, but on July 24, 2023 the Superior Court vacated the August 7, 2023 trial date at the parties’ request in light of the pending settlement discussed below. Also in 2019, the company and Dr. Soon-Shiong filed cross-claims in the Superior Court action against Sorrento and its Chief Executive Officer Henry Ji, asserting claims for fraud, breach of contract, breach of the covenant of good faith and fair dealing, tortious interference with contract, unjust enrichment, and declaratory relief. Our claims alleged that Dr. Ji and Sorrento breached the terms of an exclusive license agreement between the company and Sorrento related to Sorrento’s antibody library and that Sorrento did not perform its obligations under the exclusive license agreement. The Superior Court ruled that the company’s claims should be pursued in arbitration and that Dr. Soon-Shiong’s claims could be pursued in Superior Court. In 2019, the company, along with NANTibody, filed an arbitration against Sorrento and Dr. Ji asserting our claims relating to the exclusive license agreement. Sorrento filed counterclaims against the company and NANTibody in the arbitration. The hearings in the NANTibody arbitration commenced in April 2021 and concluded in early August 2021. After post-hearing briefing was concluded, the parties were notified on November 30, 2021 that the arbitrator in the NANTibody arbitration had passed away. A substitute arbitrator was appointed on February 25, 2022, and the parties worked with the substitute arbitrator to conclude the proceedings. Additional hearing sessions were held in May and July 2022, and summations took place on August 2, 2022. On December 2, 2022, the arbitrator issued a final award finding that Sorrento had breached the two exclusive license agreements with NantCell and NANTibody. The arbitrator awarded NantCell approximately $156.8 million and NANTibody approximately $16.7 million, plus post-award interest accruing at a daily rate. On December 21, 2022, NantCell and NANTibody filed petitions in the Superior Court to confirm the arbitration award; on January 16, 2023, Sorrento filed a response to the petitions and moved to vacate the award. On February 7, 2023, after a hearing, the Superior Court entered orders confirming the arbitration award and denying Sorrento’s motion to vacate. The Superior Court entered judgments against Sorrento in the aggregate amount of approximately $176.4 million plus 10% post-judgment interest, of which approximately $159.4 million was payable to NantCell, and the remainder of which was payable to NANTibody. On February 13, 2023, Sorrento informed counsel to the company that it had filed a Chapter 11 proceeding in the U.S. District Court for the Southern District of Texas, In re: Sorrento Therapeutics, Inc., et al., Case No. 23-90085 (DRJ), Docket Entry 810. On June 6, 2023, Sorrento filed a motion in its Chapter 11 proceeding for entry of an order approving and implementing a mediation settlement reached with the company and other entities. The settlement involved two possible scenarios: Either, if Sorrento were to raise an amount needed to pay its debtor in possession lender and its unsecured creditors by August 31, 2023, Sorrento would pay those obligations, including the judgments held by NantCell and NANTibody, by 2:00 p.m. ET on August 31, 2023 and be free to proceed with pending litigation; or, failing that, the judgments would be released, the litigation claims would be released, including, without limitation, the Superior Court action discussed above, Sorrento would relinquish its interests in NANTibody and certain other entities, Sorrento would forfeit its rights to any payments from NantCell arising out of its antibody exclusive license agreement with NantCell (rights to PD-L1), and certain other provisions not impacting the company would be implemented as described in the motion. On August 14, 2023, the United States Bankruptcy Court for the Southern District of Texas issued an order approving the settlement described above, such that the settlement became binding on the parties. As of 2:00 p.m. ET on August 31, 2023, Sorrento had not paid the judgments held by NantCell and NANTibody. Accordingly, in relevant part to the company and NantCell, a mutual release of claims became effective such that the aforementioned judgments were released, the litigation claims were released including, without limitation, the derivative litigation against NantCell described above, Sorrento relinquished its interests in NANTibody, and Sorrento forfeited its rights to any payments from NantCell arising out of its antibody exclusive license agreement with NantCell, including any royalties associated with the company’s engineered NK cell therapy in Phase 2 clinical trials, PD-L1 t-haNK. As a result of the settlement, the parties filed dismissals of the litigation matters discussed above. After the settlement, the company’s ownership in NANTibody increased from 60% to 100%, and, as a result, the carrying amount of the noncontrolling interest of $4.2 million was adjusted and recognized in additional paid-in capital attributable to the company, on the condensed consolidated statement of stockholders’ deficit. Shenzhen Beike Biotechnology Co. Ltd. Arbitration In 2020, we received a Request for Arbitration before the International Chamber of Commerce, International Court of Arbitration. The arbitration relates to a license, development, and commercialization agreement that Altor entered into with Beike in 2014, which agreement was amended and restated in 2017, pursuant to which Altor granted to Beike an exclusive license to use, research, develop and commercialize products based on ANKTIVA in China for human therapeutic uses. In the arbitration, Beike is asserting a claim for breach of contract under the license agreement. Among other things, Beike alleges that we failed to use commercially reasonable efforts to deliver to Beike materials and data related to ANKTIVA. Beike is seeking specific performance and declaratory relief for the alleged breaches. On September 25, 2020, the parties entered into a standstill agreement under which, among other things, the parties affirmed they would perform certain of their obligations under the license agreement by specified dates and agreed that all deadlines in the arbitration were indefinitely extended. The standstill agreement could be terminated by any party on ten calendar days’ notice, and upon termination, the parties had the right to pursue claims arising from the license agreement in any appropriate tribunal. On March 20, 2023, we terminated the standstill agreement, and on April 11, 2023, Beike served an amended Request for Arbitration. We served an Answer and Counterclaims on May 19, 2023. Beike served a Reply to our counterclaims on June 21, 2023. Beike served its Statement of Claim on March 22, 2024, and the company served its Statement of Defense and Counterclaim on June 21, 2024, and Beike served its Statement of Defense to the Counterclaim and Reply on August 2, 2024. The hearing in the arbitration is scheduled to begin on June 9, 2025. Given that discovery is in the early stages, it remains too early to evaluate the likely outcome of the case or to estimate any range of potential loss. We believe the claims asserted against the company lack merit and intend to defend the case, and to pursue our counterclaims, vigorously. Securities Class Action On June 30, 2023, a putative securities class action complaint, captioned Salzman v. ImmunityBio, Inc. et al., No. 3:23-cv-01216-BEN-WVG, was filed in the U.S. District Court for the Southern District of California against the company and three of its officers and/or directors, asserting violations of Sections 10(b) and 20(a) of the Exchange Act. Stemming from the company’s disclosure on May 11, 2023 that it had received an FDA CRL stating, among other things, that it could not approve the company’s BLA for its then product candidate, ANKTIVA, in its present form due to deficiencies related to its pre-license inspection of the company’s third-party CMOs, the complaint alleges that the defendants had previously made materially false and misleading statements and/or omitted material adverse facts regarding its third-party CMOs and the prospects for regulatory approval of the BLA. The complaint did not specify the amount of damages being sought. On September 27, 2023, the court appointed a lead plaintiff, approved their selection of lead counsel, and re-captioned the case In re. ImmunityBio, Inc. Securities Litigation, No. 3:23-cv-01216. On November 17, 2023, the lead plaintiff filed an amended complaint, which named the same defendants and asserted the same claims as the previous complaint. On January 8, 2024, the defendants filed a motion to dismiss the amended complaint. On June 20, 2024, the court issued an order granting in part and denying in part the motion to dismiss. On July 16, 2024, the lead plaintiff notified the court that he would proceed with his current pleading, and the defendants answered the complaint on August 29, 2024. The company disputes the claims and intends to defend the case vigorously. The company is unable to estimate a range of loss, if any, that could result were there to be an adverse final decision in this action. If an unfavorable outcome were to occur, it is possible that the impact could be material to the company’s results of operations in the period(s) in which any such outcome becomes probable and estimable. Shareholder Derivative Action On October 29, 2024, a shareholder derivative action was filed in the U.S. District Court for the Southern District of California against the members of our Board of Directors and certain officers, captioned Van Luven v. Soon-Shiong et al., Case No. 3:24-cv-02014-L-AHG. Plaintiff purports to bring the action derivatively on behalf of ImmunityBio, and ImmunityBio is a nominal defendant to the action. Stemming from the company’s May 11, 2023 disclosure that it had received an FDA CRL stating, among other things, that it could not approve the company’s BLA for its then product candidate, ANKTIVA, in its present form due to deficiencies related to its pre-license inspection of the company’s third-party CMOs, the derivative complaint alleges that the individual defendants authorized or permitted materially false and misleading statements and/or omitted material adverse facts regarding ImmunityBio’s third-party CMOs and the prospects for regulatory approval of the ANKTIVA BLA. The derivative complaint asserts claims for violations of Section 14(a) of the Exchange Act as well as claims for breach of fiduciary duty, unjust enrichment, and waste of corporate assets. The derivative complaint seeks unspecified damages on behalf of the company, disgorgement or restitution, declaratory relief, and an award of costs and expenses to the derivative plaintiff, including attorneys’ fees. Commitments During the nine months ended September 30, 2024, we did not enter into any significant contracts, other than those disclosed in these condensed consolidated financial statements. In addition, we are also a party to various contracts with CROs and CMOs that generally provide for termination on notice, with the exact amounts in the event of termination to be based on the timing of the termination and the terms of the agreement. There have been no material changes in unconditional purchase commitments from those disclosed in Note 7, Commitments and Contingencies, of the “Notes to Consolidated Financial Statements” that appears in Part II, Item 8. “Financial Statements and Supplementary Data” of our Annual Report filed with the SEC on March 19, 2024.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

2015 Equity Incentive Plan

At the company’s 2024 Annual Meeting of Stockholders held on June 11, 2024, our stockholders approved an amendment to increase the number of shares of common stock authorized for issuance under the 2015 Plan by 19.9 million shares. As of September 30, 2024, approximately 25.6 million shares were available for future grants under the 2015 Plan.

Stock-Based Compensation

The following table presents stock-based compensation included on the condensed consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Stock-based compensation expense:
Stock options	$	3,993	$	3,408	$	11,599	$	10,496
RSUs	3,496		11,041		13,795		25,893
	$	7,489	$	14,449	$	25,394	$	36,389
Stock-based compensation expense in operating expenses:
Research and development	$	1,818	$	5,218	$	8,960	$	12,725
Selling, general and administrative	5,671		9,231		16,434		23,664
	$	7,489	$	14,449	$	25,394	$	36,389

Stock Options

The following table summarizes stock option activity and related information during the nine months ended September 30, 2024:


	Number of Options	Weighted- Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Weighted- Average Remaining Contractual Life (in years)

Outstanding at December 31, 2023	9,820,435	$	9.46	$	6,046	6.6
Granted	6,336,675	$	5.29
Exercised	(308,959)	$	2.31
Forfeited/expired	(396,848)	$	5.46
Outstanding at September 30, 2024	15,451,303	$	7.99	$	1,940	7.3
Vested and exercisable at September 30, 2024	8,067,425	$	10.38	$	1,940	5.7

As of September 30, 2024, the unrecognized compensation cost related to outstanding stock options was $24.3 million, which is expected to be recognized over a remaining weighted-average period of 1.9 years.

During the nine months ended September 30, 2024, the total intrinsic value of stock options exercised was $0.9 million. During the nine months ended September 30, 2024 and 2023, cash proceeds received from stock option exercises were $0.7 million and $0.3 million, respectively.

As of December 31, 2023, a total of 5,867,252 vested and exercisable shares were outstanding.

The fair value of stock options issued was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Nine Months Ended September 30, 2024
	(Unaudited)

Expected term	5.96 years
Risk-free interest rate	4.3	%
Expected volatility	116.8	%
Expected dividend yield	—
Weighted-average grant date fair value	$4.58

The expected term was estimated using the average of the contractual term and the weighted-average vesting term of the options. The risk-free interest rate was based on the U.S. Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. The expected volatility was estimated based on the historical volatility of our common stock. The expected dividend yield was based on our expectation of not paying dividends for the foreseeable future.

Restricted Stock Units

The following table summarizes RSU activity during the nine months ended September 30, 2024:


	Number of Units	Weighted- Average Grant Date Fair Value

Nonvested balance at December 31, 2023	7,503,979	$	12.01
Granted	3,003,536	$	4.95
Vested	(3,406,609)	$	3.09
Forfeited/canceled	(541,472)	$	13.18
Nonvested balance at September 30, 2024	6,559,434	$	13.32

As of September 30, 2024, there was $32.0 million of unrecognized stock-based compensation expense related to RSUs that is expected to be recognized over a weighted-average period of 1.9 years. During the nine months ended September 30, 2024, the total intrinsic value of RSUs vested was $12.4 million.

RSUs awarded to employees and consultants of affiliated companies are accounted for as stock-based compensation in accordance with FASB ASU 2018-07, Compensation—Stock Compensation (Topic 718), as the compensation was in exchange for continued support or services expected to be provided to the company over the vesting periods under the NantWorks shared services agreement discussed in Note 12, Related-Party Agreements. We have evaluated the associated benefit of these awards to the affiliated companies under common control and determined that the benefit is limited to the retention of their employees. We estimated such benefit at the grant date fair value of $4.0 million. During the nine months ended September 30, 2024 and 2023, we recorded $0.1 million and $0.3 million of deemed dividends, respectively, in additional paid-in capital, on the condensed consolidated balance sheets, with a corresponding credit to stock-based compensation expense.

Related-Party Warrants

As of September 30, 2024, a total of 1,638,000 warrants with an exercise price of $3.24 per warrant were outstanding. The fair value of $18.0 million assigned to the warrants will be recognized in equity upon achievement of a performance-based vesting condition pertaining to building manufacturing capacity to support supply requirements for one of our product candidates.

Warrant Liabilities - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Jul. 20, 2023	Feb. 15, 2023	Dec. 12, 2022
Class of Warrant or Right [Line Items]
Number of warrants exercised (in shares)	4,740,249	13,217,843	4,284,648
Exercise of warrants	$ 31,381	$ 107,439	$ 24,702
December 2022 Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued (in shares)						9,090,909
Exercise price of warrants (in dollars per share)						$ 6.60
Number of warrants exercised (in shares)	0	0	0
February 2023 Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued (in shares)					14,072,615
Exercise price of warrants (in dollars per share)					$ 3.2946
Number of warrants exercised (in shares)	4,740,249	6,517,843	0
Exercise of warrants (in shares)	4,740,249
Exercise of warrants	$ 15,600
July 2023 Warrants
Class of Warrant or Right [Line Items]
Number of warrants issued (in shares)				14,569,296
Exercise price of warrants (in dollars per share)				$ 3.2946
Number of warrants exercised (in shares)	0	6,700,000	4,284,648

Collaboration and License Agreements and Acquisition - Collaboration Agreements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2021
Research and Development Arrangements with Federal Government [Line Items]
Loss on equity method investment	$ 0	$ 1,255,000	$ 0	$ 7,549,000
Amyris Joint Venture
Research and Development Arrangements with Federal Government [Line Items]
Advances to support operations	$ 0		$ 0		$ 1,000,000
Percentage of ownership interest		50.00%		50.00%
Loss on equity method investment		$ 1,300,000		$ 7,500,000
Amyris Joint Venture \| Amyris, Inc.
Research and Development Arrangements with Federal Government [Line Items]
Advances to support operations					$ 1,000,000

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Lease Arrangements - Summary of Future Minimum Lease Payments (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Operating Leases
2024 (excluding the nine months ended September 30, 2024)	$ 2,960
2025	11,591
2026	9,728
2027	8,984
2028	9,248
Thereafter	16,057
Total future minimum lease payments	58,568
Less: Interest	14,300
Less: Tenant improvement allowance receivable	474
Present value of lease liabilities	$ 43,794

Condensed Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
ATM Offering Program
Commissions and offering costs	$ 660	$ 160	$ 313
Registered Direct Offering
Commissions and offering costs		$ 1,489		$ 2,046
Stock Purchase And Option Agreement
Commissions and offering costs	$ 150

Related-Party Agreements - Summary of Outstanding Balances of Related-Party Agreements (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Due from related parties	$ 729	$ 2,019
Related Party
Related Party Transaction [Line Items]
Due from related parties	729	2,019
Accounts payable	386	1,136
Related Party \| NantBio
Related Party Transaction [Line Items]
Due from related parties	0	1,294
Accounts payable	0	943
Related Party \| NantWorks
Related Party Transaction [Line Items]
Due from related parties	536	541
Related Party \| Brink Biologics, Inc.
Related Party Transaction [Line Items]
Due from related parties	125	62
Related Party \| Various
Related Party Transaction [Line Items]
Due from related parties	68	122
Accounts payable	18	0
Related Party \| Duley Road, LLC
Related Party Transaction [Line Items]
Accounts payable	133	136
Related Party \| Immuno-Oncology Clinic, Inc.
Related Party Transaction [Line Items]
Accounts payable	$ 235	$ 57

Financial Statement Details - Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial Statement Details [Abstract]
Accrued professional and service fees	$ 11,973	$ 9,829
Accrued bonus	9,722	11,350
Accrued research and development costs	7,708	7,700
Accrued compensation	6,969	6,241
Accrued preclinical and clinical trial costs	2,963	4,218
Financing obligation – current portion	2,163	1,475
Accrued construction costs	686	1,179
Other	1,412	716
Accrued expenses and other liabilities	$ 43,596	$ 42,708

Collaboration and License Agreements and Acquisition - License Agreements - Additional Information (Detail) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	Jun. 30, 2023	Sep. 30, 2021	May 31, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2022
Licensing Agreement [Line Items]
Research and development expense				$ 50,443,000	$ 48,402,000	$ 154,923,000	$ 180,834,000
Prepaid expenses and other current assets				25,921,000		25,921,000		$ 25,603,000
3M IPC and Access to Advanced Health Institute License Agreement \| License Agreement Terms \| 2022
Licensing Agreement [Line Items]
Periodic license payments, annual	$ 2,250,000
Annual minimum licensing payment						1,000,000
Research and development expense				600,000		1,700,000	1,500,000
Access to Advanced Health Institute (formerly IDRI)
Licensing Agreement [Line Items]
Non-refundable upfront cash payments			$ 2,000,000
Milestone payment, aggregate maximum			2,500,000
Milestone fees						0	0
Access to Advanced Health Institute (formerly IDRI) \| License Agreement Terms
Licensing Agreement [Line Items]
Non-refundable upfront cash payments		$ 1,500,000
Milestone payment, aggregate maximum		$ 4,000,000
Termination fee				10,000,000		10,000,000
Accounts payable				1,800,000		1,800,000
Prepaid expenses and other current assets								2,300,000
Access to Advanced Health Institute (formerly IDRI) \| License Agreement Terms \| 2022
Licensing Agreement [Line Items]
Research and development expense				1,400,000	1,400,000	4,200,000	3,100,000
License maintenance fees									$ 3,000,000
Access to Advanced Health Institute (formerly IDRI) \| License Agreement Terms \| 2023 through 2030
Licensing Agreement [Line Items]
License maintenance fees				5,500,000		5,500,000
Access to Advanced Health Institute (formerly IDRI) \| Sponsored Research Agreement
Licensing Agreement [Line Items]
Research and development expense					$ 500,000	800,000	$ 700,000
License maintenance fees payable				$ 2,000,000		$ 2,000,000		$ 1,200,000
Access to Advanced Health Institute (formerly IDRI) \| Sponsored Research Agreement \| Minimum
Licensing Agreement [Line Items]
Annual payment for support of research activities			$ 2,000,000

Financial Statement Details - Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial Statement Details [Abstract]
Raw materials	$ 0	$ 0
Work-in-progress	1,958	0
Finished goods	0	0
Inventories	$ 1,958	$ 0

Related-Party Agreements (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Outstanding Balances of Related-Party Agreements

Below is a summary of outstanding balances and a description of significant relationships (in thousands):


	September 30, 2024		December 31, 2023
	(Unaudited)

Due from related party–NantWorks	$	536	$	541
Due from related party–Brink	125		62
Due from related party–NantBio	—		1,294
Due from related parties–Various	68		122
Total due from related parties	$	729	$	2,019

Due to related party–Duley Road	$	133	$	136
Due to related party–the Clinic	235		57
Due to related party–NantBio	—		943
Due to related party–Various	18		—
Total due to related parties	$	386	$	1,136

Lease Arrangements (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to our leases is as follows (in thousands):


		September 30, 2024		December 31, 2023
	Classification	(Unaudited)

Assets
Operating lease assets	Operating lease right-of-use assets	$	34,946	$	36,543
Finance lease assets	Other assets	—		58
Total lease assets		$	34,946	$	36,601

Liabilities
Current:
Operating lease liabilities	Operating lease liabilities	$	7,033	$	5,244
Finance lease liabilities	Accrued expenses and other liabilities	—		64
Noncurrent:
Operating lease liabilities	Operating lease liabilities, less current portion	36,761		39,942

Total lease liabilities		$	43,794	$	45,250

Summary of Information Regarding Leases

Information regarding our lease terms is as follows:

September 30,
2024

December 31,
2023

(Unaudited)

Weighted-average remaining lease term:

Operating leases

5.5 years

6.2 years

Finance leases

0 years

0.8 years

Weighted-average discount rate:

Operating leases

10.9

Finance leases

—

11.7

The components of lease expense consist of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Operating lease costs	$	2,558	$	2,768	$	7,583	$	8,611
Short-term lease costs	1,069		997		3,196		3,026
Finance lease costs (including right-of-use asset amortization and interest expense)	18		21		59		66
Variable lease costs	969		977		2,882		2,922
Total lease expense	$	4,614	$	4,763	$	13,720	$	14,625

Cash paid for amounts included in the measurement of lease liabilities is as follows (in thousands):


	Nine Months Ended September 30,
	2024		2023
	(Unaudited)

Cash paid for operating leases (excluding variable lease costs)	$	7,868	$	7,713
Financing cash flow from finance leases	$	64	$	57
Operating cash flow from finance leases	$	2	$	9

Summary of Future Minimum Lease Payments

Future minimum lease payments as of September 30, 2024, including $11.5 million related to options to extend lease terms that are reasonably certain of being exercised, are presented in the following table (in thousands). Common area maintenance costs and taxes are not included in these payments.


Years ending December 31:	Operating Leases

2024 (excluding the nine months ended September 30, 2024)	$	2,960
2025	11,591
2026	9,728
2027	8,984
2028	9,248
Thereafter	16,057
Total future minimum lease payments	58,568
Less: Interest	14,300
Less: Tenant improvement allowance receivable	474
Present value of lease liabilities	$	43,794

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 111,966	$ 265,453
Marketable securities	18,401	1,009
Accounts receivable, net	4,175	0
Inventories	1,958	0
Due from related parties	729	2,019
Prepaid expenses and other current assets (including amounts with related parties)	25,921	25,603
Total current assets	163,150	294,084
Marketable securities, noncurrent	0	891
Property, plant and equipment, net	139,285	146,082
Goodwill and intangible assets, net	16,479	17,093
Convertible note receivable	7,067	6,879
Operating lease right-of-use assets, net (including amounts with related parties)	34,946	36,543
Other assets (including amounts with related parties)	3,643	2,880
Total assets	364,570	504,452
Current liabilities:
Accrued expenses and other liabilities	43,596	42,708
Operating lease liabilities (including amounts with related parties)	7,033	5,244
Total current liabilities	60,960	58,283
Related-party nonconvertible note, net of discount (Note 11)	111,143	104,586
Related-party convertible notes and accrued interest, net of discount (Note 11)	587,975	576,951
Revenue interest liability (Note 10)	273,657	155,415
Operating lease liabilities, less current portion (including amounts with related parties)	36,761	39,942
Derivative liabilities (Note 10) and (Note 11)	19,223	35,333
Warrant liabilities	18,308	118,770
Other liabilities	705	1,109
Total liabilities	1,108,732	1,090,389
Commitments and contingencies (Note 8)
Stockholders’ deficit:
Common stock, $0.0001 par value; 1,350,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 696,831,296 and 670,867,344 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; excluding treasury stock, 163,800 shares outstanding as of September 30, 2024 and December 31, 2023	70	67
Additional paid-in capital	2,570,765	2,374,620
Accumulated deficit	(3,316,086)	(2,961,684)
Accumulated other comprehensive income	103	10
Total ImmunityBio stockholders’ deficit	(745,148)	(586,987)
Noncontrolling interests	986	1,050
Total stockholders’ deficit	(744,162)	(585,937)
Total liabilities and stockholders’ deficit	364,570	504,452
Non-related Party
Current liabilities:
Accounts payable	9,945	9,195
Related Party
Current assets:
Due from related parties	729	2,019
Current liabilities:
Accounts payable	$ 386	$ 1,136

Revenues - Additional Information (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Disaggregation of Revenue [Line Items]
Revenue, gross-to-net accruals	$ 1,000
Accounts receivable, net
Disaggregation of Revenue [Line Items]
Revenue, gross-to-net accruals	500
Accrued expenses and other current liabilities
Disaggregation of Revenue [Line Items]
Revenue, gross-to-net accruals	$ 500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expense Included on Operations Statement

The following table presents stock-based compensation included on the condensed consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Stock-based compensation expense:
Stock options	$	3,993	$	3,408	$	11,599	$	10,496
RSUs	3,496		11,041		13,795		25,893
	$	7,489	$	14,449	$	25,394	$	36,389
Stock-based compensation expense in operating expenses:
Research and development	$	1,818	$	5,218	$	8,960	$	12,725
Selling, general and administrative	5,671		9,231		16,434		23,664
	$	7,489	$	14,449	$	25,394	$	36,389

Summary of Stock Option Activity and Related Information under Equity Plans

The following table summarizes stock option activity and related information during the nine months ended September 30, 2024:


	Number of Options	Weighted- Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Weighted- Average Remaining Contractual Life (in years)

Outstanding at December 31, 2023	9,820,435	$	9.46	$	6,046	6.6
Granted	6,336,675	$	5.29
Exercised	(308,959)	$	2.31
Forfeited/expired	(396,848)	$	5.46
Outstanding at September 30, 2024	15,451,303	$	7.99	$	1,940	7.3
Vested and exercisable at September 30, 2024	8,067,425	$	10.38	$	1,940	5.7

Schedule of Weighted Average Fair Value of Options Under Black-Scholes Option Pricing Model

The fair value of stock options issued was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Nine Months Ended September 30, 2024
	(Unaudited)

Expected term	5.96 years
Risk-free interest rate	4.3	%
Expected volatility	116.8	%
Expected dividend yield	—
Weighted-average grant date fair value	$4.58

Summary of RSU Activity under Equity Plans

The following table summarizes RSU activity during the nine months ended September 30, 2024:


	Number of Units	Weighted- Average Grant Date Fair Value

Nonvested balance at December 31, 2023	7,503,979	$	12.01
Granted	3,003,536	$	4.95
Vested	(3,406,609)	$	3.09
Forfeited/canceled	(541,472)	$	13.18
Nonvested balance at September 30, 2024	6,559,434	$	13.32

Warrant Liabilities - Warrant Exercises (Details) - shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Warrants Outstanding [Roll Forward]
Warrants outstanding, beginning of period (in shares)	20,230,329	33,448,172	37,732,820
Warrant exercises (in shares)	(4,740,249)	(13,217,843)	(4,284,648)
Warrants outstanding, end of period (in shares)	15,490,080	20,230,329	33,448,172
December 2022 Warrants
Warrants Outstanding [Roll Forward]
Warrants outstanding, beginning of period (in shares)	9,090,909	9,090,909	9,090,909
Warrant exercises (in shares)	0	0	0
Warrants outstanding, end of period (in shares)	9,090,909	9,090,909	9,090,909
February 2023 Warrants
Warrants Outstanding [Roll Forward]
Warrants outstanding, beginning of period (in shares)	7,554,772	14,072,615	14,072,615
Warrant exercises (in shares)	(4,740,249)	(6,517,843)	0
Warrants outstanding, end of period (in shares)	2,814,523	7,554,772	14,072,615
July 2023 Warrants
Warrants Outstanding [Roll Forward]
Warrants outstanding, beginning of period (in shares)	3,584,648	10,284,648	14,569,296
Warrant exercises (in shares)	0	(6,700,000)	(4,284,648)
Warrants outstanding, end of period (in shares)	3,584,648	3,584,648	10,284,648

Revenue Interest Purchase Agreement - Additional Information (Details) $ / shares in Units, $ in Thousands			1 Months Ended			3 Months Ended		9 Months Ended
	May 13, 2024 USD ($)	Dec. 29, 2023 USD ($) $ / shares	May 31, 2024 USD ($)	Apr. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2029 USD ($)
Deferred Revenue Arrangement [Line Items]
Embedded derivative liability					$ 35,333	$ 19,223		$ 19,223
Exercise of stock options (in shares) \| shares								308,959
Stock Purchase And Option Agreement
Deferred Revenue Arrangement [Line Items]
Available for future stock issuance		$ 10,000				5,000		$ 5,000
Sale of stock (in dollars per share) \| $ / shares		$ 4.1103		$ 5.8208
Sale of stock, additional purchase option		$ 10,000
Sale of stock issued in transaction		10,000
Purchase price allocation		12,000
Exercise of stock options (in shares) \| shares				858,990
Proceeds from stock options exercised				$ 4,900				4,850	$ 0
Revenue Interest Purchase Agreement
Deferred Revenue Arrangement [Line Items]
Upfront payment received		200,000
Debt issuance costs	$ 3,100				7,500
Purchase agreement milestone		$ 100,000
Purchase agreement milestone, received	$ 100,000
Revenue interest purchase agreement, payment received percentage		195.00%
Interest expense recognized						$ 10,900		28,154
Embedded derivative liability					$ 34,500
Embedded contingent derivative liability related to Second Payment			$ 6,200				$ 6,150	$ 6,150
Carrying value of debt		$ 197,100
Revenue Interest Purchase Agreement \| Forecast
Deferred Revenue Arrangement [Line Items]
Purchase agreement, total investment amount										$ 300,000
Revenue Interest Purchase Agreement \| Embedded Derivative Financial Instruments \| Risk-free rate
Deferred Revenue Arrangement [Line Items]
Measurement input					0.121	0.117		0.117
Revenue Interest Purchase Agreement \| Stock Purchase And Option Agreement \| Fair Value, Stock Purchase Option, Revenue Interest Purchase Agreement
Deferred Revenue Arrangement [Line Items]
Purchase price allocation		$ 800
Revenue Interest Purchase Agreement \| Period One
Deferred Revenue Arrangement [Line Items]
Required purchase price, as a percent		1.200
Revenue Interest Purchase Agreement \| Period Two
Deferred Revenue Arrangement [Line Items]
Required purchase price, as a percent		1.350
Revenue Interest Purchase Agreement \| Period Three
Deferred Revenue Arrangement [Line Items]
Required purchase price, as a percent		1.750
Revenue Interest Purchase Agreement \| Period Four
Deferred Revenue Arrangement [Line Items]
Required purchase price, as a percent		1.950
Revenue Interest Purchase Agreement \| Initial Payment \| Forecast
Deferred Revenue Arrangement [Line Items]
Revenue interest purchase agreement, tiered revenue interest rate percentage										1.50%
Revenue Interest Purchase Agreement \| Initial Payment \| Minimum
Deferred Revenue Arrangement [Line Items]
Payments as a percentage of net sales		3.00%
Revenue Interest Purchase Agreement \| Initial Payment \| Maximum
Deferred Revenue Arrangement [Line Items]
Payments as a percentage of net sales		7.00%
Revenue Interest Purchase Agreement \| Second Payment \| Forecast
Deferred Revenue Arrangement [Line Items]
Revenue interest purchase agreement, tiered revenue interest rate percentage										2.25%
Revenue Interest Purchase Agreement \| Second Payment \| Minimum
Deferred Revenue Arrangement [Line Items]
Payments as a percentage of net sales		4.50%
Revenue Interest Purchase Agreement \| Second Payment \| Maximum
Deferred Revenue Arrangement [Line Items]
Payments as a percentage of net sales		10.00%

Income Taxes - Additional Information (Detail)	Sep. 30, 2024 USD ($)
United States
Income Tax [Line Items]
Unrecognized tax benefits	$ 0
Italy
Income Tax [Line Items]
Unrecognized tax benefits	0
South Korea
Income Tax [Line Items]
Unrecognized tax benefits	$ 0

Financial Statement Details - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	$ 235,430	$ 230,458
Less: Accumulated depreciation and amortization	96,145	84,376
Property, plant and equipment, net	139,285	146,082
Leasehold improvements
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	72,570	72,552
Equipment
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	73,588	69,915
Construction in progress
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	85,716	84,436
Furniture & fixtures
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	1,896	1,889
Software
Property Plant And Equipment [Line Items]
Gross property, plant and equipment	$ 1,660	$ 1,666

Financial Instruments

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Financial Instruments

Investments in Marketable Debt Securities


	September 30, 2024
	(Unaudited)
	Weighted- Average Remaining Contractual Life (in years)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Current:
U.S. Treasury securities	0.1	$	17,999	$	5	$	—	$	18,004

As of September 30, 2024, no marketable debt securities were in an unrealized loss position.


	December 31, 2023
	Weighted- Average Remaining Contractual Life (in years)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Current:

Foreign bonds	0.8	$	54	$	—	$	—	$	54
Mutual funds		40		—		(1)		39
Current portion		94		—		(1)		93
Noncurrent:
Foreign bonds	3.3	939		—		(48)		891

Total		$	1,033	$	—	$	(49)	$	984


	December 31, 2023
	Less than 12 months				More than 12 months
	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses


Mutual funds	$	39	$	(1)	$	—	$	—
Foreign bonds	891		(48)		—		—
Total	$	930	$	(49)	$	—	$	—

Investments in Marketable Equity Securities

As of September 30, 2024 and December 31, 2023, we held investments in marketable equity securities with readily determinable fair values of $0.4 million and $0.9 million, respectively. Unrealized losses recorded on these securities totaled $0.5 million and $0.6 million during the three months ended September 30, 2024 and 2023, respectively, and losses of $0.5 million and $0.9 million during the nine months ended September 30, 2024 and 2023, respectively, in interest and investment income, net, on the condensed consolidated statements of operations.

Investment in Other Equity Security

In August 2024, the company entered into a SAFE with an unrelated party in exchange for the right to acquire certain shares of the investee. Upon the closing of equity financing by the investee prior to the termination of the SAFE, the SAFE will convert into preferred shares. We elected to apply the measurement alternative under ASC Topic 321, Investments—Equity Securities, pursuant to which we measure our investment in the SAFE at cost, less impairment. We recorded an investment in the SAFE of $0.7 million in other assets, on the condensed consolidated balance sheet as of September 30, 2024. We evaluate this investment for any indications of impairment in value on a quarterly basis.

Stock-Based Compensation - Stock Based Compensation Expenses Related to Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 7,489	$ 14,449	$ 25,394	$ 36,389
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,818	5,218	8,960	12,725
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,671	9,231	16,434	23,664
Stock options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	3,993	3,408	11,599	10,496
RSUs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 3,496	$ 11,041	$ 13,795	$ 25,893

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		9 Months Ended		46 Months Ended
	Jun. 11, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested and exercisable (in shares)		8,067,425		8,067,425			5,867,252
Number of warrants outstanding (in shares)		15,490,080		15,490,080	20,230,329	33,448,172	37,732,820
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock options		$ 24.3		$ 24.3
Weighted-average period for recognition		1 year 10 months 24 days
Aggregate intrinsic value of stock option exercised		$ 0.9
Proceeds from stock options exercised		$ 0.7	$ 0.3
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period for recognition		1 year 10 months 24 days
Unrecognized compensation cost related to non-vested stock options		$ 32.0		32.0
Aggregate intrinsic value, vested		12.4
Dividends		$ 0.1	$ 0.3
RSUs \| Related Party \| NantWorks
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated benefit at grant date fair value				$ 4.0
Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of warrants outstanding (in shares)		1,638,000		1,638,000
Exercise price of warrants (in dollars per share)		$ 3.24		$ 3.24
Fair value of warrants		$ 18.0		$ 18.0
2015 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Increase in number of shares of common stock authorized for issuance (in shares)	19,900,000
Common stock reserved for future grants (in shares)		25,600,000		25,600,000

Financial Instruments - Available-for-Sale Marketable Debt Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		$ 1,033
Gross Unrealized Gains		0
Gross Unrealized Losses		(49)
Fair Value		984
Current Assets
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		94
Gross Unrealized Gains		0
Gross Unrealized Losses		(1)
Fair Value		$ 93
Current Assets \| U.S. Treasury securities
Schedule Of Available For Sale Securities [Line Items]
Weighted- Average Remaining Contractual Life (in years)	1 month 6 days
Amortized Cost	$ 17,999
Gross Unrealized Gains	5
Gross Unrealized Losses	0
Fair Value	$ 18,004
Current Assets \| Foreign bonds
Schedule Of Available For Sale Securities [Line Items]
Weighted- Average Remaining Contractual Life (in years)		9 months 18 days
Amortized Cost		$ 54
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		54
Current Assets \| Mutual funds
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		40
Gross Unrealized Gains		0
Gross Unrealized Losses		(1)
Fair Value		$ 39
Noncurrent Assets \| Foreign bonds
Schedule Of Available For Sale Securities [Line Items]
Weighted- Average Remaining Contractual Life (in years)		3 years 3 months 18 days
Amortized Cost		$ 939
Gross Unrealized Gains		0
Gross Unrealized Losses		(48)
Fair Value		$ 891

Collaboration and License Agreements and Acquisition - Acquisition - Additional Information (Detail)	Feb. 14, 2022 USD ($) ft² renewal_option employee	Sep. 30, 2024 USD ($)
Minimum
Asset Acquisition [Line Items]
Initial term of lease arrangement		2 years
Optional extended lease term		1 year
Maximum
Asset Acquisition [Line Items]
Initial term of lease arrangement		10 years
Optional extended lease term		10 years
Dunkirk Facility
Asset Acquisition [Line Items]
Number of square foot of facility leased \| ft²	409,000
Annual lease payment	$ 2.00
Initial term of lease arrangement	10 years
Number of lease renewal options \| renewal_option	1
Optional extended lease term	10 years
Commitment to spend, operational expenses, initial lease term	$ 1,520,000,000
Commitment to spend, operational expenses, renewal lease term	$ 1,500,000,000
Commitment to hire, number of employees, first five years \| employee	450
Commitment to hire, number of employees, first two and a half years \| employee	300
Dunkirk Facility \| State Of New York \| Minimum
Asset Acquisition [Line Items]
Government funding for leasehold build-out		$ 8,000,000
Dunkirk Facility \| State Of New York \| Maximum
Asset Acquisition [Line Items]
Government funding for leasehold build-out		$ 10,000,000

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 4, 2024, Dr. Barry J. Simon, a member of our board of directors and our Chief Corporate Affairs Officer, adopted a written plan for the sale of up to 3,262,417 shares of our common stock that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan will expire on June 3, 2026, or on any earlier date on which all of the shares have been sold.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Dr. Barry J. Simon [Member]
Trading Arrangements, by Individual
Name	Dr. Barry J. Simon
Title	member of our board of directors and our Chief Corporate Affairs Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 4, 2024
Expiration Date	June 3, 2026
Arrangement Duration	637 days
Aggregate Available	3,262,417	3,262,417

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	May 13, 2024	Sep. 30, 2024	Sep. 30, 2023	May 31, 2024	Dec. 31, 2023	Dec. 29, 2023
Accounting Policies [Line Items]
Accumulated deficit		$ 3,316,086			$ 2,961,684
Net cash used in operating activities		306,092	$ 251,486
Inventory, valuation reserves		0
ATM Offering Program
Accounting Policies [Line Items]
Common stock, value available for future stock issuance		296,500
Revenue Interest Purchase Agreement
Accounting Policies [Line Items]
Upfront payment received						$ 200,000
Purchase agreement milestone, received	$ 100,000
Debt discount				$ 6,200
Stock Purchase And Option Agreement
Accounting Policies [Line Items]
Available for future stock issuance		$ 5,000				$ 10,000

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net loss per ImmunityBio common share – basic
Net loss attributable to ImmunityBio common stockholders	$ (85,729)			$ (95,582)			$ (354,402)	$ (349,804)
Weighted-average number of common shares outstanding - basic (in shares)	695,895			498,375			685,261	454,994
Net loss per ImmunityBio common share – basic (in dollars per share)	$ (0.12)			$ (0.19)			$ (0.52)	$ (0.77)
Net loss per ImmunityBio common share – diluted
Net loss	$ (85,752)	$ (134,584)	$ (134,130)	$ (95,642)	$ (138,213)	$ (116,583)	$ (354,466)	$ (350,438)
Less: Net loss attributable to noncontrolling interests, net of tax	(23)			(60)			(64)	(634)
Add: Increase (decrease) in fair value of warrant liabilities	(14,505)			0			(10,553)	0
Numerator for net loss per ImmunityBio common share – diluted	$ (100,234)			$ (95,582)			$ (364,955)	$ (349,804)
Weighted-average number of common shares outstanding - basic (in shares)	695,895			498,375			685,261	454,994
Add: Dilutive effect of assumed exercise of "in-the-money" third-party warrants (in shares)	2,066			0			3,679	0
Denominator for net loss per ImmunityBio common share - diluted (in shares)	697,961			498,375			688,939	454,994
Net loss per ImmunityBio common share - diluted (in dollars per share)	$ (0.14)			$ (0.19)			$ (0.53)	$ (0.77)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net loss	$ (354,466)	$ (350,438)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash interest expense related to the revenue interest liability	27,715	0
Stock-based compensation expense	25,394	36,389
Change in fair value of derivative liabilities	(20,084)	0
Amortization of related-party notes discounts	17,580	35,278
Depreciation and amortization	13,416	13,948
Change in fair value of warrant liabilities	(10,222)	(31,800)
Non-cash lease expense related to operating lease right-of-use assets	4,141	4,786
Accretion of discounts on marketable debt securities	(1,465)	(16)
Non-cash interest items, net (including amounts with related parties)	(187)	8,988
Unrealized losses on equity securities	520	851
Change in fair value of convertible note	0	(749)
Transaction costs allocated to warrant liabilities	0	2,010
Other	146	(459)
Changes in operating assets and liabilities:
Accounts receivable	(4,175)	0
Inventories	(1,958)	0
Prepaid expenses and other current assets	370	9,463
Other assets	(74)	1,385
Accounts payable	47	(3,599)
Accrued expenses and other liabilities	606	26,205
Related parties	540	(1,299)
Operating lease liabilities	(3,936)	(2,429)
Net cash used in operating activities	(306,092)	(251,486)
Investing activities:
Purchases of marketable debt securities, available-for-sale	(134,129)	(10,192)
Proceeds from maturities of marketable debt securities, available-for-sale	97,552	0
Proceeds from sales of marketable debt securities	21,021	102
Purchases of property, plant and equipment	(4,777)	(22,629)
Acquisition of a business, net of transaction costs	(1,000)	0
Cash paid for other investments	(747)	0
Net cash used in investing activities	(22,080)	(32,719)
Financing activities:
Proceeds from the RIPA, net of issuance costs	96,956	0
Proceeds from exercises of warrants	73,281	0
Net share settlement for RSUs vesting	(4,662)	(1,881)
Principal payments of finance leases	(64)	(57)
Proceeds from issuance of related-party promissory notes, net of issuance costs paid	0	258,700
Net cash provided by financing activities	174,701	357,802
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(16)	(265)
Net change in cash and cash equivalents, and restricted cash	(153,487)	73,332
Cash and cash equivalents, and restricted cash, beginning of period	265,787	104,965
Cash and cash equivalents, and restricted cash, end of period	112,300	178,297
Reconciliation of cash and cash equivalents, and restricted cash, end of period:
Cash and cash equivalents	111,966	177,963
Restricted cash	334	334
Cash and cash equivalents, and restricted cash, end of period	112,300	178,297
Supplemental disclosure of cash flow information:
Interest	71,452	32,902
Income taxes	15	0
Supplemental disclosure of non-cash activities:
Right-of-use assets obtained in exchange for operating lease liabilities	2,576	0
Property and equipment purchases included in accounts payable, accrued expenses and due to related parties	1,363	10,902
Unrealized gains on marketable debt securities, net	86	34
Conversion of note payable into common stock	0	269,987
Initial measurement of warrants issued in connection with RDOs accounted for as liabilities	0	49,534
Increase in fair value of embedded conversion feature from debt modification	0	31,179
Change in ownership interest in a joint venture due to legal settlement	0	4,199
Unpaid offering costs included in accounts payable and accrued expenses	0	186
Stock Purchase And Option Agreement
Financing activities:
Proceeds from exercises of stock options	4,850	0
Private Placement and At the Market Offerings
Financing activities:
Proceeds from equity offerings, net of discounts and issuance costs	3,625	100,747
Stock Options, Other
Financing activities:
Proceeds from exercises of stock options	$ 715	$ 293

Related-Party Debt - Narrative (Details) - Affiliated Entity - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 29, 2023
Nonconvertible Note \| $505 Million Promissory Note, December 2023
Related Party Transaction [Line Items]
Face amount		$ 505,000,000	$ 505,000,000
Nonconvertible Note \| $505 Million Promissory Note, December 2023, Tranche 1
Related Party Transaction [Line Items]
Face amount	$ 505,000,000	$ 505,000,000
Interest rate spread	8.00%	8.00%
Principal Amount	$ 125,000,000	$ 125,000,000
Effective interest rate			23.65%
Nonconvertible Note \| $505 Million Promissory Note, December 2023, Tranche 2
Related Party Transaction [Line Items]
Effective interest rate			18.04%
Convertible Notes
Related Party Transaction [Line Items]
Principal Amount	610,000,000	610,000,000
Convertible Notes \| $505 Million Promissory Note, December 2023, Tranche 2
Related Party Transaction [Line Items]
Face amount	$ 505,000,000	$ 505,000,000
Interest rate spread	7.50%	7.50%
Conversion price (in dollars per share)	$ 8.2690
Prepayment and accrued interest upon specified transaction	$ 50,000,000
Principal Amount	380,000,000	$ 380,000,000
Convertible Notes \| $30 Million March 2023 Promissory Note
Related Party Transaction [Line Items]
Face amount	$ 30,000,000	$ 30,000,000
Interest rate spread	8.00%	8.00%
Conversion price (in dollars per share)	$ 2.28
Principal Amount	$ 30,000,000	$ 30,000,000
Convertible Notes \| $200 Million September 2023 Promissory Note
Related Party Transaction [Line Items]
Face amount	$ 200,000,000	$ 200,000,000
Interest rate spread	8.00%	8.00%
Conversion price (in dollars per share)	$ 1.9350
Principal Amount	$ 200,000,000	$ 200,000,000

Lease Arrangements - Supplemental Balance Sheet Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease assets	$ 34,946	$ 36,543
Finance lease assets	0	58
Total lease assets	34,946	36,601
Operating lease liabilities	7,033	5,244
Finance lease liabilities	0	64
Operating lease liabilities	36,761	39,942
Total lease liabilities	$ 43,794	$ 45,250
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets (including amounts with related parties)	Other assets (including amounts with related parties)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities

Related-Party Debt - Estimated Material Contractual Obligations Related to Related-Party Promissory Notes (Details) - Affiliated Entity - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Convertible Notes
Related Party Transaction [Line Items]
Total	$ 587,975	$ 576,951
Convertible Debt
Related Party Transaction [Line Items]
Effective interest rate	12.40%
Related Party Notes
Related Party Transaction [Line Items]
2024 (excluding the nine months ended September 30, 2024)	$ 22,978
2025	626,163
2026	217,876
Total	867,017
Principal Payments \| Convertible Notes
Related Party Transaction [Line Items]
2024 (excluding the nine months ended September 30, 2024)	0
2025	410,000
2026	200,000
Total	610,000
Principal Payments \| Nonconvertible Note
Related Party Transaction [Line Items]
2024 (excluding the nine months ended September 30, 2024)	0
2025	125,000
2026	0
Total	125,000
Interest Payments \| Convertible Notes
Related Party Transaction [Line Items]
2024 (excluding the nine months ended September 30, 2024)	19,010
2025	75,421
2026	17,876
Total	112,307
Interest Payments \| Nonconvertible Note
Related Party Transaction [Line Items]
2024 (excluding the nine months ended September 30, 2024)	3,968
2025	15,742
2026	0
Total	$ 19,710

Revenue Interest Purchase Agreement - Derivative Instruments (Details) - Revenue Interest Purchase Agreement - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	May 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Revenue Recognition, Milestone Method [Line Items]
Fair value, beginning of period		$ 19,840	$ 37,130	$ 34,500	$ 34,500
Change in fair value		(2,220)	(23,440)	2,630
Embedded contingent derivative liability related to Second Payment	$ 6,200		6,150		6,150
Fair value, end of period		$ 17,620	$ 19,840	$ 37,130	$ 17,620

Stock-Based Compensation - RSUs Activity (Detail) - Outstanding RSUs	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Units
Nonvested, beginning balance (in units) \| shares	7,503,979
Granted (in units) \| shares	3,003,536
Vested (in units) \| shares	(3,406,609)
Forfeited/canceled (in units) \| shares	(541,472)
Nonvested, ending balance (in units) \| shares	6,559,434
Weighted- Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 12.01
Granted (in dollars per share) \| $ / shares	4.95
Vested (in dollars per share) \| $ / shares	3.09
Forfeited/canceled (in dollars per share) \| $ / shares	13.18
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 13.32

Stock-Based Compensation - Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Number of Options
Outstanding, beginning balance (in shares) \| shares	9,820,435
Granted (in shares) \| shares	6,336,675
Exercised (in shares) \| shares	(308,959)
Forfeited/expired (in shares) \| shares	(396,848)
Outstanding, ending balance (in shares) \| shares	15,451,303	9,820,435
Vested and exercisable (in shares) \| shares	8,067,425	5,867,252
Weighted- Average Exercise Price
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 9.46
Granted (in dollars per share) \| $ / shares	5.29
Exercised (in dollars per share) \| $ / shares	2.31
Forfeited/expired (in dollars per share) \| $ / shares	5.46
Outstanding, ending balance (in dollars per share) \| $ / shares	7.99	$ 9.46
Vested and exercisable (in dollars per share) \| $ / shares	$ 10.38
Aggregate Intrinsic Value
Outstanding, beginning balance \| $	$ 6,046
Outstanding, ending balance \| $	1,940	$ 6,046
Vested and exercisable \| $	$ 1,940
Weighted- Average Remaining Contractual Life (in years)
Outstanding	7 years 3 months 18 days	6 years 7 months 6 days
Vested and exercisable	5 years 8 months 12 days

Stockholders' Deficit - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended	9 Months Ended
	Dec. 29, 2023	Apr. 30, 2024	Apr. 30, 2021	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Feb. 28, 2023
Class Of Stock [Line Items]
Exercise of stock options (in shares)					308,959
February 2023 Shelf Registration Statement
Class Of Stock [Line Items]
Maximum offering							$ 750,000
Available for future stock issuance					$ 565,600
ATM Offering Program
Class Of Stock [Line Items]
Increase to maximum offering		$ 92,000
Proceeds from equity offerings, net of discounts and issuance costs				$ 2,500	3,600	$ 16,100
ATM Offering Program \| Maximum
Class Of Stock [Line Items]
Percentage of sales agent commission			3.00%
Stock Purchase And Option Agreement
Class Of Stock [Line Items]
Available for future stock issuance	$ 10,000				5,000
Sale of stock issued in transaction	$ 10,000
Exercise of stock options (in shares)		858,990
Sale of stock (in dollars per share)	$ 4.1103	$ 5.8208
Proceeds from stock options exercised		$ 4,900			$ 4,850	$ 0
Stock Purchase And Option Agreement \| Maximum
Class Of Stock [Line Items]
Percent of common stock outstanding after option exercise, maximum	19.90%
2015 Share Repurchase Plan
Class Of Stock [Line Items]
Repurchase of common stock, shares (in shares)					0	0
Remaining authorized repurchase amount					$ 18,300

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (85,729)	$ (95,582)	$ (354,402)	$ (349,804)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Related-Party Debt - Embedded Derivative (Details) - Embedded Derivative Financial Instruments - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, beginning of period	$ 967	$ 800	$ 833
Change in fair value	636	167	(33)
Fair value, end of period	$ 1,603	$ 967	$ 800

Related-Party Agreements - Additional Information (Detail)							1 Months Ended					3 Months Ended		9 Months Ended
	Oct. 03, 2023 renewal_option	May 01, 2022 USD ($) ft²	Jan. 01, 2022 USD ($)	Oct. 01, 2021 USD ($) ft² renewal_option	Apr. 01, 2021 USD ($) ft² renewal_option	Jan. 01, 2021 USD ($) ft² renewal_option	Jun. 30, 2023 renewal_option	Jan. 31, 2019 USD ($) ft² renewal_option	Aug. 31, 2018	Feb. 28, 2017 USD ($) ft² renewal_option	Sep. 30, 2016 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2023 USD ($)	Dec. 31, 2015 ft²
Related Party Transaction [Line Items]
Selling, general and administrative (including amounts with related parties)												$ 35,916,000	$ 31,816,000	$ 127,052,000	$ 96,510,000
Research and development expense												50,443,000	48,402,000	154,923,000	180,834,000
Accounts receivable, net												4,175,000		4,175,000		$ 0
Related Party
Related Party Transaction [Line Items]
Accounts payable												386,000		386,000		1,136,000
NantWorks \| Related Party
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²		46,330																9,500
Percentage of annual increases of base rent		3.00%	3.00%
Base rent - monthly		$ 273,700	$ 56,120
Expansion of licensed premises (in square feet) \| ft²		36,830
NantWorks \| Related Party \| Research and development expense
Related Party Transaction [Line Items]
Lease expense												900,000	800,000	2,600,000	2,500,000
NantWorks \| Related Party \| Shared Services Agreement
Related Party Transaction [Line Items]
Selling, general and administrative (including amounts with related parties)												700,000	500,000	1,700,000	2,400,000
Accounts receivable, net												500,000		500,000		500,000
Prepaid expenses												1,300,000		1,300,000		1,000,000
NantWorks \| Related Party \| Shared Services Agreement \| Reimbursements
Related Party Transaction [Line Items]
Research and development expense												900,000	600,000	2,200,000	1,600,000
Immuno-Oncology Clinic, Inc. \| Related Party
Related Party Transaction [Line Items]
Research and development expense												700,000	500,000	2,100,000	1,900,000
Accounts payable												200,000		200,000		100,000
NantBio \| Related Party
Related Party Transaction [Line Items]
Accounts payable												0		0		943,000
NantBio \| Related Party \| NCSC
Related Party Transaction [Line Items]
Accounts payable																900,000
Initial term of supply agreement									5 years
Optional extended term of supply agreement									1 year
Deferred revenue												100,000		100,000		100,000
NantBio \| Related Party \| NantCancerStemCell
Related Party Transaction [Line Items]
Revenue recognized												0	0	0	0
NantBio \| Related Party \| Shared Services Agreement
Related Party Transaction [Line Items]
Accounts receivable, net																1,300,000
605 Doug St, LLC \| Related Party
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²											24,250
Percentage of annual increases of base rent											3.00%
Base rent - monthly											$ 72,385
Options to extend number of terms \| renewal_option							1
Extended lease term							3 years
605 Doug St, LLC \| Related Party \| Research and development expense
Related Party Transaction [Line Items]
Lease expense												200,000	200,000	700,000	700,000
Duley Road, LLC \| Related Party
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²										11,980
Percentage of annual increases of base rent								3.00%		3.00%
Base rent - monthly								$ 35,800		$ 40,700
Options to extend number of terms \| renewal_option	1							2		2
Extended lease term	5 years							5 years		5 years
Duley Road, LLC \| Related Party \| Due to related parties
Related Party Transaction [Line Items]
Lease expense												200,000	200,000	700,000	600,000
Lease-related payables												100,000		100,000		100,000
Duley Road, LLC \| Related Party \| September 2019 Lease
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²								5,650
Initial term of lease arrangement								7 years
Duley Road, LLC \| Related Party \| July 2019 Lease
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²								6,488
Initial term of lease arrangement								7 years
605 Nash, LLC \| Related Party
Related Party Transaction [Line Items]
Total area of real estate property \| ft²						64,643
605 Nash, LLC \| Related Party \| Initial Premises
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²						6,883
Percentage of annual increases of base rent						3.00%
Base rent - monthly						$ 20,300
Options to extend number of terms \| renewal_option						1
Extended lease term						3 years
605 Nash, LLC \| Related Party \| Expansion Premises
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²					57,760
Percentage of annual increases of base rent					3.00%
Base rent - monthly					$ 170,400
Options to extend number of terms \| renewal_option					1
Extended lease term					3 years
605 Nash, LLC \| Related Party \| Initial and Expansion Premises
Related Party Transaction [Line Items]
Tenant improvements incentive																$ 2,900,000
605 Nash, LLC \| Related Party \| Research and development expense \| Initial and Expansion Premises
Related Party Transaction [Line Items]
Lease expense												500,000	500,000	1,600,000	1,600,000
420 Nash, LLC \| Related Party
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²				19,125
Percentage of annual increases of base rent				3.00%
Base rent - monthly				$ 38,250
Options to extend number of terms \| renewal_option				2
Extended lease term				5 years
420 Nash, LLC \| Related Party \| Research and development expense
Related Party Transaction [Line Items]
Lease expense												$ 100,000	100,000	$ 400,000	400,000
23 Alaska, LLC \| Related Party
Related Party Transaction [Line Items]
Number of square foot of facility leased \| ft²		47,265
Percentage of annual increases of base rent		3.00%
Base rent - monthly		$ 139,400
Base monthly rent, parking		$ 7,600
Security deposits																	$ 100,000
23 Alaska, LLC \| Related Party \| Research and development expense
Related Party Transaction [Line Items]
Lease expense													$ 300,000		$ 1,200,000

Related-Party Debt

9 Months Ended

Sep. 30, 2024

Related-Party Debt

Our related-party debt is summarized below (in thousands):


	Balances as of September 30, 2024
	(Unaudited)
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	13,857	$	111,143

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	22,025	$	357,975
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	22,025	$	587,975


	Balances as of December 31, 2023
	Maturity Year	Interest Rate	Principal Amount		Less: Unamortized Discounts		Total

Related-Party Nonconvertible Note:
$505 million December 2023 Promissory Note Tranche 1 (1)	2025	Term SOFR +8.0%	$	125,000	$	20,414	$	104,586

Related-Party Convertible Notes:
$505 million December 2023 Promissory Note Tranche 2 (1)	2025	Term SOFR +7.5%	$	380,000	$	33,049	$	346,951
$30 million March 2023 Promissory Note	2025	Term SOFR +8.0%	30,000		—		30,000
$200 million September 2023 Promissory Note	2026	Term SOFR +8.0%	200,000		—		200,000
Total related-party convertible notes			$	610,000	$	33,049	$	576,951

_______________

(1)

The discounts on our $505 million December 2023 Promissory Note were based on imputed interest rates of 23.65% for Tranche 1 and 18.04% for Tranche 2, respectively, calculated as of December 2023.

$505 million December 2023 Promissory Note

The change in fair value of the contingently exercisable prepayment feature embedded derivative is as follows (in thousands):


	(Unaudited)

Fair value, at December 31, 2023	$	833
Change in fair value	(33)
Fair value, at March 31, 2024	800
Change in fair value	167
Fair value, at June 30, 2024	967
Change in fair value	636
Fair value, at September 30, 2024	$	1,603

$30 million March 2023 Promissory Note


	September 30, 2023
	(Unaudited)

Expected market yield	25.2	%
Volatility	100.8	%
Risk-free rate	5.4	%

$200 million September 2023 Promissory Note

In connection with the RIPA transaction, all outstanding related-party promissory notes became subordinated to the RIPA payment obligations.

The following table summarizes the estimated future contractual obligations for our related-party debt as of September 30, 2024 (in thousands):


	Principal Payments				Interest Payments (1)
	Convertible Notes		Nonconvertible Note		Convertible Notes		Nonconvertible Note		Total
	(Unaudited)

2024 (excluding the nine months ended September 30, 2024)	$	—	$	—	$	19,010	$	3,968	$	22,978
2025	410,000		125,000		75,421		15,742		626,163
2026	200,000		—		17,876		—		217,876
Total	$	610,000	$	125,000	$	112,307	$	19,710	$	867,017

_______________

(1)

Related-Party Agreements


	September 30, 2024		December 31, 2023
	(Unaudited)

Due from related party–NantWorks	$	536	$	541
Due from related party–Brink	125		62
Due from related party–NantBio	—		1,294
Due from related parties–Various	68		122
Total due from related parties	$	729	$	2,019

Due to related party–Duley Road	$	133	$	136
Due to related party–the Clinic	235		57
Due to related party–NantBio	—		943
Due to related party–Various	18		—
Total due to related parties	$	386	$	1,136

NantWorks, LLC

Shared Services Agreement

Facility License Agreement

Immuno-Oncology Clinic, Inc.

NantBio, Inc.

605 Doug St, LLC

Duley Road, LLC

605 Nash, LLC

420 Nash, LLC

23 Alaska, LLC

- Definition

+ References

+ Details

Revenues (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Disaggregated Revenue

The following table presents our disaggregated revenue for the periods presented (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Product revenue, net	$	5,954	$	—	$	6,944	$	—
Other revenues	152		82		249		483
Total revenue	$	6,106	$	82	$	7,193	$	483

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (85,752)	$ (95,642)	$ (354,466)	$ (350,438)
Other comprehensive income (loss), net of income taxes:
Net unrealized gains on available-for-sale securities	39	48	31	46
Reclassification of net realized losses (gains) on available-for-sale securities included in net loss	10	(18)	55	(12)
Foreign currency translation adjustments	62	(18)	7	(245)
Change in fair value of convertible note related to instrument-specific credit risk	0	820	0	820
Total other comprehensive income	111	832	93	609
Comprehensive loss	(85,641)	(94,810)	(354,373)	(349,829)
Less: Comprehensive loss attributable to noncontrolling interests	23	60	64	634
Comprehensive loss attributable to ImmunityBio common stockholders	$ (85,618)	$ (94,750)	$ (354,309)	$ (349,195)

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and pursuant to the rules and regulations of the SEC. The unaudited condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of our financial position and results of operations. Certain items in the prior year’s consolidated financial statements have been reclassified to conform to the current presentation. These reclassifications had no effect on the reported results of operations. The unaudited condensed consolidated financial statements do not include all information and notes required by U.S. GAAP for annual reports and therefore should be read in conjunction with our consolidated financial statements and the notes thereto contained in our Annual Report filed with the SEC on March 19, 2024. These interim financials are not necessarily indicative of results expected for the full fiscal year.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of the company, its wholly-owned subsidiaries, and a VIE for which the company is the primary beneficiary. Any material intercompany transactions and balances have been eliminated upon consolidation. For consolidated entities where we have less than 100% of ownership, we record net loss attributable to noncontrolling interests, net of tax, on the condensed consolidated statement of operations equal to the percentage of the ownership interest retained in such entities by the respective noncontrolling parties.

We assess whether we are the primary beneficiary of a VIE at the inception of the arrangement and at each reporting date. This assessment is based on our power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and our obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.

If the entity is within the scope of the variable interest model and meets the definition of a VIE, we consider whether we must consolidate the VIE or provide additional disclosures regarding our involvement with the VIE. If we determine that we are the primary beneficiary of the VIE, we will consolidate the VIE. This analysis is performed at the initial investment in the entity or upon any reconsideration event.

For entities we hold as an equity investment that are not consolidated under the VIE model, we consider whether our investment constitutes a controlling financial interest in the entity and therefore should be considered for consolidation under the voting interest model.

Liquidity

As of September 30, 2024, the company had an accumulated deficit of $3.3 billion. We also had negative cash flows from operations of $306.1 million during the nine months ended September 30, 2024. The company will likely need additional capital to commercialize our approved product, and to further fund the development of, and to seek regulatory approvals for, our other product candidates.

The condensed consolidated financial statements have been prepared assuming the company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of the uncertainty of our ability to continue as a going concern. As a result of continuing anticipated operating cash outflows as we commercialize our approved product and accelerate our development efforts, we believe that substantial doubt exists regarding our ability to continue as a going concern without additional funding or financial support. However, we believe our existing cash and cash equivalents, and investments in marketable securities; sales of our approved product; capital to be raised through equity offerings, including but not limited to, the offering, issuance and sale by us of our common stock under the ATM, of which we had $296.5 million available for future issuance as of September 30, 2024; and our potential ability to borrow from affiliated entities will be sufficient to fund our operations through at least the next 12 months following the issuance date of the consolidated financial statements based primarily upon our Founder, Executive Chairman and Global Chief Scientific and Medical Officer’s intent and ability to support our operations with additional funds, including loans from affiliated entities, as required, which we believe alleviates such doubt.

In addition to funds from the future sales of our approved product, which we expect to take time to establish, we may also seek to sell additional equity, through one or more follow-on offerings, or in separate financings, or obtain incremental subordinated debt in compliance with our existing revenue interest liability. However, we may not be able to secure such external financing in a timely manner or on favorable terms. Without significant sales of our approved product or additional funds, we may choose to delay or reduce our operating or investment expenditures. Further, because of the risk and uncertainties associated with the commercialization of our approved product and our other product candidates, we may need additional funds to meet our needs sooner than planned.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to the valuation of equity-based awards, deferred income taxes and related valuation allowances, preclinical and clinical trial accruals, impairment assessments, CVR measurement and assessments, the measurement of right-of-use assets and lease liabilities, useful lives of long-lived assets, loss contingencies, fair value calculation of warrants, stock options, derivative liabilities, convertible promissory notes, fair value measurements, revenue interest liability, revenue recognition, accruals for research and development activities, and the assessment of our ability to fund our operations for at least the next 12 months from the date of issuance of these condensed consolidated financial statements. We base our estimates on historical experience and on various other market-specific and relevant assumptions that we believe to be reasonable under the circumstances. Estimates are assessed each period and updated to reflect current information and anticipated future events, and accordingly, actual results may ultimately differ materially from those estimates.

Significant Accounting Policies

Our significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, of the “Notes to Consolidated Financial Statements” that appears in Part II, Item 8. “Financial Statements and Supplementary Data” of our Annual Report filed with the SEC on March 19, 2024, except as updated herein or as it relates to revenue recognition, cost of product revenue, accounts receivable, inventory, warrants, convertible notes, debt, revenue interest liability, derivative liabilities and the adoption of new accounting standards during the nine months ended September 30, 2024. Management does not believe that any recently issued, but not yet effective accounting pronouncements, if currently adopted, would have a material effect on the company’s consolidated financial statements.

Revenues

Product Sales

After FDA approval in April 2024, the company began recognizing revenue from the sale of ANKTIVA in accordance with ASC Topic 606, Revenue from Contracts with Customers (ASC 606). Revenue from product sales is recorded at the net sales price (“transaction price”), which includes an estimate of variable consideration. An estimate of variable consideration is based on an amount that reflects the consideration to which we expect to be entitled, net of accruals for estimated rebates, chargebacks, discounts and other deductions and returns established at the time of sale.

Where appropriate, these estimates are based on factors such as industry data and forecasted customer buying and payment patterns, our experience, current contractual and statutory requirements, specific known market events and trends. These reductions to gross sales reflect our best estimates of the amount of consideration to which we are entitled based on the terms of the contract. Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Actual amounts of consideration ultimately received may differ from our estimates. If actual results in future periods vary from our estimates, we adjust these estimates, which would affect product revenue and earnings in the period such variances become known. As we gain more experience, estimates will be more heavily based on the expected utilization from historical data we have accumulated since the ANKTIVA product launch.

The company entered into a third-party logistics agreement to engage a 3PL Agent to distribute the company’s products to its customers. The 3PL Agent provides services to the company that include storage, shipping and distribution, processing product returns, as well as customer service, order to cash, and logistics support. The company’s customers are currently limited to pharmaceutical specialty distributors (each a “Customer”) pursuant to a drop-ship arrangement whereby the 3PL Agent will ship products to end customers of such Customers. Our Customers subsequently sell ANKTIVA to hospitals, medical facilities, physician practices, pharmacies and government agencies. Revenue from product sales is recognized when our performance obligations are satisfied, which is upon delivery to the end customer.

Other Revenues

Prior to the approval of ANKTIVA for commercial sale, we primarily generated revenues from non-exclusive license agreements related to our cell lines, the sale of our bioreactors and related consumables, and grant programs. The company expects to continue to generate revenue from these programs.

License Agreements with Third Parties

The company has nonexclusive license agreements with a limited number of pharmaceutical and biotechnology companies that grant them the right to use our cell lines and intellectual property for non-clinical use. These agreements generally include upfront fees and annual research license fees for such use, as well as commercial license fees for sales of the licensee products developed or manufactured using our intellectual property and cell lines.

Under our license agreements with customers, we typically promise to provide a license to use certain cell lines and related patents, the related know-how, and future research and development data that affect the license. We have concluded that these promises represent a single performance obligation due to the highly interrelated nature of the promises. We provide the cell lines and know-how immediately upon entering into the contracts. Research and development data are provided throughout the term of the contract when and if available. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation based on relative standalone selling price and recognized as revenue when, or as, the performance obligation is satisfied.

Our license agreements may include non-refundable upfront payments, event-based milestone payments, sales-based royalty payments, or some combination of these. The event-based milestone payments represent variable consideration, and we use the most likely amount method to estimate this variable consideration. Given the high degree of uncertainty around the achievement of these milestones, we do not recognize revenue from these milestone payments until the uncertainty associated with these payments is resolved. We currently estimate variable consideration related to milestone payments to be zero and, as such, no revenue has been recognized for milestone payments. We recognize revenue from sales-based royalty payments when or as sales occur. On a quarterly basis, we re-evaluate our estimate of milestone variable consideration to determine whether any amount should be included in the transaction price and recorded in revenue prospectively.

Other Product and Services Revenue

We sell our proprietary GMP-in-a-Box bioreactors and related consumables to affiliated companies and third parties. The arrangements typically include delivery of bioreactors, consumables, and providing installation service and perpetual software licenses for using the equipment. We recognize revenue when customers obtain control and can benefit from the promised goods or services, generally upon installation of the bioreactors, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Upfront payments and fees are recorded as deferred revenue upon receipt and recognized as revenue when we satisfy our performance obligations under these arrangements.

Grant Revenue

Grant revenue is typically paid for reimbursable costs incurred over the duration of the associated research project or clinical trial and is recognized either when expenses reimbursable under the grants have been incurred and payments under the grants become contractually due or when cash is received, depending on the certainty of payment and other factors specific to each grant.

Cost of Product Revenue

Accounts Receivable, Net

Accounts receivable is recorded net of allowances for prompt payment discounts, returns, and credit losses. The company estimates an allowance for credit losses by considering factors such as credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. As of September 30, 2024, the credit profile for the company’s counterparty was deemed to be in good standing, and as such an allowance for credit losses was not recorded.

Inventory

We began to capitalize inventory costs associated with ANKTIVA during the three months ended June 30, 2024 after receiving FDA approval in April 2024 when it was determined that the inventory had a probable future economic benefit.

Inventory is stated at the lower of cost or estimated net realizable value with cost determined using the FIFO method. Inventory costs include the cost of materials, third-party contract manufacturing, third-party packaging services, freight, labor costs for personnel involved in the manufacturing process, and indirect overhead costs. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation.

The company performs an assessment of the recoverability of capitalized inventory during each reporting period, and it writes down any excess and obsolete inventories to their estimated net realizable value in the period in which the impairment is first identified. Such impairment charges, if they occur, are recorded in cost of product revenue, on the condensed consolidated statement of operations.

Because FDA approval was recently received and the company capitalized its first inventory as of June 30, 2024. As of September 30, 2024, no reserve has been established. The company will continue to monitor if a reserve is needed at each reporting period.

Warrants

The company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, Distinguishing Liabilities from Equity (ASC 480), and ASC Topic 815, Derivatives and Hedging (ASC 815). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the company’s own stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For warrants that meet all criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital, on the condensed consolidated statement of stockholders’ deficit at the time of issuance. For warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and on each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recorded as a non-cash gain or loss in other income (expense), net, on the condensed consolidated statement of operations. The fair value of the warrants was estimated using the Black-Scholes option pricing model.

Fair Value Option Election

The company accounted for a convertible note issued on March 31, 2023 under the FVO election of ASC Topic 825, Financial Instruments (ASC 825) until it was amended and restated on December 29, 2023. Prior to its extinguishment on December 29, 2023, the convertible note was a debt host financial instrument containing embedded features wherein the entire financial instrument was initially measured at its issuance-date fair value and then subsequently remeasured at estimated fair value on a recurring basis at each reporting period date.

Changes in the estimated fair value of this convertible note were recorded in other (expense) income, net, on the condensed consolidated statement of operations, except that changes in estimated fair value caused by changes in the instrument-specific credit risk are included in other comprehensive income (loss). In accordance with FASB ASC Topic 470-50, Debt – Modifications and Extinguishments (ASC 470-50), when the convertible note was extinguished on December 29, 2023, the cumulative amount previously recorded in other comprehensive (loss) income resulting from changes in the instrument-specific credit risk were reclassified and reported in current earnings on the condensed consolidated statement of operations. See Note 11, Related-Party Debt, for more information.

Debt Modification and Extinguishment

The company evaluates amendments to its debt instruments in accordance with ASC 470-50. This evaluation includes comparing (1) if applicable, the net present value of future cash flows of the amended debt to that of the original debt and (2) the change in fair value of an embedded conversion feature to that of the carrying amount of the debt immediately prior to amendment to determine, in each case, if a change greater than 10% occurred. In instances where the net present value of future cash flows or the fair value of an embedded conversion feature, if any, changed more than 10%, the company applies extinguishment accounting. In instances where the net present value of future cash flows and the fair value of an embedded conversion feature, if any, changed less than 10%, the company accounts for the amendment to the debt as a debt modification. Gains and losses on debt amendments that are considered extinguishments are recognized in current earnings or in additional paid-in capital if the transactions are with entities under common control. Debt amendments that are considered debt modifications are accounted for prospectively through yield adjustments, based on the revised terms. The increase in fair value of the embedded conversion feature from the debt modification was accounted for as an increase in debt discount with a corresponding increase in additional paid-in capital. Legal fees and other costs incurred with third parties that are directly related to debt modifications are expensed as incurred. Amounts paid by the company to the lenders, are reflected as additional debt discount and amortized as an adjustment of interest expense over remaining term of modified debt using the effective interest method.

Revenue Interest Liability

On December 29, 2023, we entered into the RIPA with Infinity and Oberland. Pursuant to the RIPA, Oberland acquired certain Revenue Interests (as defined in the RIPA) from us for a gross purchase price of $200.0 million paid on closing and acquired additional Revenue Interests from us for a gross purchase price of $100.0 million paid on May 13, 2024. Under the RIPA, Oberland has the right to receive quarterly payments from us based on, among other things, a certain percentage of our worldwide net sales, excluding those in China, during such quarter. The RIPA is considered a sale of future revenues and is accounted for as a liability net of a debt discount comprised of deferred issuance costs, the fair value of a freestanding option agreement related to the SPOA, and the fair value of embedded derivatives requiring bifurcation on the consolidated balance sheet. The company imputes interest expense associated with this liability using the effective interest rate method. The effective interest rate is calculated based on the rate that would enable the debt to be repaid in full over the anticipated life of the arrangement. Interest expense is recognized over the estimated term on the consolidated statement of operations. The interest rate on this liability may vary during the term of the agreement depending on a number of factors, including the level of actual and forecasted net sales. The company evaluates the interest rate quarterly based on actual and forecasted net sales utilizing the prospective method. A significant increase or decrease in actual or forecasted net sales will materially impact the revenue interest liability, interest expense, and the time period for repayment.

Derivative Liabilities

Embedded derivatives that are required to be bifurcated from the underlying debt instrument that do not meet the derivative scope exception and equity classification criteria are accounted for and valued as separate financial instruments. The terms of an embedded derivative related to a contingent exercisable prepayment feature of a convertible note have been evaluated and deemed to require bifurcation. This embedded derivative was initially measured at fair value and will be remeasured to fair value at each reporting date until the derivative is settled.

In addition, the RIPA contains certain features that meet the definition of being an embedded derivative requiring bifurcation as a separate compound financial instrument apart from the RIPA. In May 2024, Oberland acquired additional Revenue Interests for a gross purchase price of $100.0 million, and the company recorded an incremental portion of the fair value of the derivative liability as of the funding date of $6.2 million as a debt discount, which is being amortized in interest expense, on the condensed consolidated statement of operations along with the initial debt discount over the expected term of the debt using the effective interest rate method. The fair value of the derivative liability is subject to remeasurement at each reporting period, with changes in fair value recognized in other income (expense), net, on the condensed consolidated statement of operations.

Basic and Diluted Net Loss per Share of Common Stock

Basic net loss per share is calculated by dividing the net loss attributable to ImmunityBio common stockholders by the weighted-average number of common shares outstanding for the period. Diluted loss per share is computed by dividing net loss attributable to ImmunityBio common stockholders by the weighted-average number of common shares, including the number of additional shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.

The following table reflects the calculation of basic and diluted loss per common share (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Net loss per ImmunityBio common share – basic
Numerator:
Net loss attributable to ImmunityBio common stockholders	$	(85,729)	$	(95,582)	$	(354,402)	$	(349,804)
Denominator:
Weighted-average number of common shares outstanding – basic	695,895		498,375		685,261		454,994
Net loss per ImmunityBio common share – basic	$	(0.12)	$	(0.19)	$	(0.52)	$	(0.77)

Net loss per ImmunityBio common share – diluted
Numerator:
Net loss	$	(85,752)	$	(95,642)	$	(354,466)	$	(350,438)
Less: Net loss attributable to noncontrolling interests, net of tax	(23)		(60)		(64)		(634)
Add: Increase (decrease) in fair value of warrant liabilities	(14,505)		—		(10,553)		—
Numerator for net loss per ImmunityBio common share – diluted	$	(100,234)	$	(95,582)	$	(364,955)	$	(349,804)
Denominator:
Weighted-average number of common shares outstanding – basic	695,895		498,375		685,261		454,994
Add: Dilutive effect of assumed exercise of “in-the-money” third-party warrants	2,066		—		3,679		—
Denominator for net loss per ImmunityBio common share – diluted	697,961		498,375		688,939		454,994
Net loss per ImmunityBio common share – diluted	$	(0.14)	$	(0.19)	$	(0.53)	$	(0.77)

Potentially dilutive securities, whose effect would have been antidilutive, were excluded from the computation of diluted net loss per share. The following table details the number of shares of common stock underlying those securities that were excluded from the computation of weighted-average number of common shares outstanding – diluted (shares in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
	(Unaudited)		(Unaudited)

Related-party convertible notes	162,472	116,517	162,472	116,517
Outstanding third-party warrants	9,091	37,733	9,091	37,733
Outstanding stock options	15,451	9,862	15,451	9,862
Outstanding RSUs	6,559	8,604	6,559	8,604
Outstanding related-party warrants	1,638	1,638	1,638	1,638
Total	195,211	174,353	195,211	174,353

The potentially dilutive securities shown in the table above exclude an option to purchase up to approximately $5.0 million of the company’s common stock pursuant to the SPOA entered in connection with the RIPA, as the exercise price cannot be determined until the date of exercise.

Recent Accounting Pronouncements

Application of New or Revised Accounting Standards – Adopted

In June 2022, the FASB, issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This ASU also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and introduces certain disclosure requirements for equity securities subject to such restrictions. We adopted this ASU on January 1, 2024 on a prospective basis with no impact on our condensed consolidated financial statements.

In March 2023, the FASB issued ASU 2023-01, Leases-Common Control Arrangements (Topic 842). This ASU provides updated guidance for accounting for leasehold improvements associated with common control leases. We adopted this ASU on January 1, 2024 on a prospective basis with no impact on our condensed consolidated financial statements.

Application of New or Revised Accounting Standards – Not Yet Adopted

In August 2023, the FASB issued ASU 2023-05, Business Combinations-Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement, which requires a joint venture to initially measure all contributions received upon its formation at fair value. This ASU is applicable to joint venture entities with a formation date on or after January 1, 2025 on a prospective basis. We will apply this guidance prospectively in future reporting periods after the guidance is effective to any future arrangements meeting the definition of a joint venture.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. We are currently evaluating the impact of this standard on our disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to improve its income tax disclosure requirements. Under the ASU, entities must annually (1) disclose specific categories in the rate reconciliation, (2) provide additional information for reconciling items that meet a quantitative threshold, and (3) disclose more detailed information about income taxes paid, including by jurisdiction; pretax income (or loss) from continuing operations; and income tax expense (or benefit). The ASU is effective for fiscal years beginning after December 15, 2024, and interim periods beginning after December 15, 2025, with early adoption permitted. We are currently evaluating the impact of this standard on our disclosures.

Other recent authoritative guidance issued by the FASB (including technical corrections to the ASC), and the SEC during the nine months ended September 30, 2024 did not, or are not expected to, have a material effect on our condensed consolidated financial statements.

Lease Arrangements

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lease Arrangements

We lease property in multiple facilities across the U.S. and Italy, including facilities located in El Segundo, CA and the Dunkirk Facility in upstate New York. Substantially all of our operating lease right-of-use assets and operating lease liabilities relate to facilities leases. All of our finance leases were related to equipment rental at the Dunkirk Facility. See Note 12, Related-Party Agreements, for more information about our related-party leases.

Our leases generally have initial terms ranging from two to ten years and often include one or more options to renew. These renewal terms can extend the lease term from one to ten years and are included in the lease term when it is reasonably certain that we will exercise the option.

Supplemental balance sheet information related to our leases is as follows (in thousands):


		September 30, 2024		December 31, 2023
	Classification	(Unaudited)

Assets
Operating lease assets	Operating lease right-of-use assets	$	34,946	$	36,543
Finance lease assets	Other assets	—		58
Total lease assets		$	34,946	$	36,601

Liabilities
Current:
Operating lease liabilities	Operating lease liabilities	$	7,033	$	5,244
Finance lease liabilities	Accrued expenses and other liabilities	—		64
Noncurrent:
Operating lease liabilities	Operating lease liabilities, less current portion	36,761		39,942

Total lease liabilities		$	43,794	$	45,250

Information regarding our lease terms is as follows:

September 30,
2024

December 31,
2023

(Unaudited)

Weighted-average remaining lease term:

Operating leases

5.5 years

6.2 years

Finance leases

0 years

0.8 years

Weighted-average discount rate:

Operating leases

10.9

Finance leases

—

11.7

The components of lease expense consist of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Operating lease costs	$	2,558	$	2,768	$	7,583	$	8,611
Short-term lease costs	1,069		997		3,196		3,026
Finance lease costs (including right-of-use asset amortization and interest expense)	18		21		59		66
Variable lease costs	969		977		2,882		2,922
Total lease expense	$	4,614	$	4,763	$	13,720	$	14,625

Cash paid for amounts included in the measurement of lease liabilities is as follows (in thousands):


	Nine Months Ended September 30,
	2024		2023
	(Unaudited)

Cash paid for operating leases (excluding variable lease costs)	$	7,868	$	7,713
Financing cash flow from finance leases	$	64	$	57
Operating cash flow from finance leases	$	2	$	9


Years ending December 31:	Operating Leases

2024 (excluding the nine months ended September 30, 2024)	$	2,960
2025	11,591
2026	9,728
2027	8,984
2028	9,248
Thereafter	16,057
Total future minimum lease payments	58,568
Less: Interest	14,300
Less: Tenant improvement allowance receivable	474
Present value of lease liabilities	$	43,794

There have been no material changes related to our existing lease agreements from those disclosed in Note 8, Lease Arrangements, of the “Notes to Consolidated Financial Statements” that appears in Part II, Item 8. “Financial Statements and Supplementary Data” of our Annual Report filed with the SEC on March 19, 2024.

Lease Arrangements

Supplemental balance sheet information related to our leases is as follows (in thousands):


		September 30, 2024		December 31, 2023
	Classification	(Unaudited)

Assets
Operating lease assets	Operating lease right-of-use assets	$	34,946	$	36,543
Finance lease assets	Other assets	—		58
Total lease assets		$	34,946	$	36,601

Liabilities
Current:
Operating lease liabilities	Operating lease liabilities	$	7,033	$	5,244
Finance lease liabilities	Accrued expenses and other liabilities	—		64
Noncurrent:
Operating lease liabilities	Operating lease liabilities, less current portion	36,761		39,942

Total lease liabilities		$	43,794	$	45,250

Information regarding our lease terms is as follows:

September 30,
2024

December 31,
2023

(Unaudited)

Weighted-average remaining lease term:

Operating leases

5.5 years

6.2 years

Finance leases

0 years

0.8 years

Weighted-average discount rate:

Operating leases

10.9

Finance leases

—

11.7

The components of lease expense consist of the following (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Operating lease costs	$	2,558	$	2,768	$	7,583	$	8,611
Short-term lease costs	1,069		997		3,196		3,026
Finance lease costs (including right-of-use asset amortization and interest expense)	18		21		59		66
Variable lease costs	969		977		2,882		2,922
Total lease expense	$	4,614	$	4,763	$	13,720	$	14,625

Cash paid for amounts included in the measurement of lease liabilities is as follows (in thousands):


	Nine Months Ended September 30,
	2024		2023
	(Unaudited)

Cash paid for operating leases (excluding variable lease costs)	$	7,868	$	7,713
Financing cash flow from finance leases	$	64	$	57
Operating cash flow from finance leases	$	2	$	9


Years ending December 31:	Operating Leases

2024 (excluding the nine months ended September 30, 2024)	$	2,960
2025	11,591
2026	9,728
2027	8,984
2028	9,248
Thereafter	16,057
Total future minimum lease payments	58,568
Less: Interest	14,300
Less: Tenant improvement allowance receivable	474
Present value of lease liabilities	$	43,794

Revenues

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenues

As discussed in Note 2, Summary of Significant Accounting Policies, revenues are recognized in accordance with ASC 606. The following table presents our disaggregated revenue for the periods presented (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)				(Unaudited)

Product revenue, net	$	5,954	$	—	$	6,944	$	—
Other revenues	152		82		249		483
Total revenue	$	6,106	$	82	$	7,193	$	483

Product Revenue, Net

During the three and nine months ended September 30, 2024, our only source of product revenue has been from U.S. sales of ANKTIVA, which we began shipping to customers in May 2024.

As of September 30, 2024, approximately $1.0 million of gross-to-net accruals have been recorded as a reduction to revenue, of which approximately $0.5 million is a reduction of accounts receivable, net and approximately $0.5 million is presented in accrued expenses and other current liabilities on the condensed consolidated balance sheet.

Other Revenues

During the three and nine months ended September 30, 2024, our primary sources of other revenues were bioreactors and related consumable product sales.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	$ 130,367	$ 267,353
Liabilities measured at fair value	(37,841)	(154,942)
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	130,367	266,408
Liabilities measured at fair value	0	0
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	945
Liabilities measured at fair value	0	0
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	0
Liabilities measured at fair value	(37,841)	(154,942)
Current Assets \| Equity securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	397	916
Current Assets \| Equity securities \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	397	916
Current Assets \| Equity securities \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	0
Current Assets \| Equity securities \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	0
Current Assets \| Foreign bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		54
Current Assets \| Foreign bonds \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Current Assets \| Foreign bonds \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		54
Current Assets \| Foreign bonds \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Current Assets \| Mutual funds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		39
Current Assets \| Mutual funds \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		39
Current Assets \| Mutual funds \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Current Assets \| Mutual funds \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Current Assets \| Cash and cash equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	111,966	265,453
Current Assets \| Cash and cash equivalents \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	111,966	265,453
Current Assets \| Cash and cash equivalents \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	0
Current Assets \| Cash and cash equivalents \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0	0
Current Assets \| U.S. Treasury securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	18,004
Current Assets \| U.S. Treasury securities \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	18,004
Current Assets \| U.S. Treasury securities \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0
Current Assets \| U.S. Treasury securities \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value	0
Noncurrent Assets \| Foreign bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		891
Noncurrent Assets \| Foreign bonds \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Noncurrent Assets \| Foreign bonds \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		891
Noncurrent Assets \| Foreign bonds \| Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets measured at fair value		0
Current Liabilities \| Contingent consideration obligations
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(20)	(20)
Current Liabilities \| Level 1 \| Contingent consideration obligations
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Current Liabilities \| Level 2 \| Contingent consideration obligations
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Current Liabilities \| Level 3 \| Contingent consideration obligations
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(20)	(20)
Noncurrent Liabilities \| Stock Option Purchase Liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(290)	(819)
Noncurrent Liabilities \| Derivative Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(19,223)	(35,333)
Noncurrent Liabilities \| Warrant liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(18,308)	(118,770)
Noncurrent Liabilities \| Level 1 \| Stock Option Purchase Liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 1 \| Derivative Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 1 \| Warrant liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 2 \| Stock Option Purchase Liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 2 \| Derivative Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 2 \| Warrant liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	0	0
Noncurrent Liabilities \| Level 3 \| Stock Option Purchase Liability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(290)	(819)
Noncurrent Liabilities \| Level 3 \| Derivative Liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	(19,223)	(35,333)
Noncurrent Liabilities \| Level 3 \| Warrant liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Liabilities measured at fair value	$ (18,308)	$ (118,770)