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Grants Revenue and Receivable
12 Months Ended
Dec. 31, 2021
Revenue From Contract With Customer [Abstract]  
Grants Revenue and Receivable

5. Grants revenue and receivable

CARB-X grant

In April 2018, the Company entered into a subaward agreement with the Trustees of Boston University as part of the Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) grant to support the development of a rapid Clinical Laboratory Improvement Amendments-waived molecular diagnostic test to detect chlamydia and gonorrhea directly from a patient sample in 20 minutes or less and develop a similarly rapid phenotypic antibiotic susceptibility test for gonorrhea. The subaward agreement consisted of $4.4 million of initial funding through September 30, 2019. During 2020, the subaward agreement was extended through September 2020 and the initial funding was increased by $1.2 million in order to expand development efforts. In October 2021, the Company chose not to pursue additional option periods under the Biomedical Advanced Research and Development Authority’s CARB-X program. Therefore, there is no additional funding available under this grant.

During the year ended December 31, 2021 the Company did not recognize revenue related to the CARB-X grant. During the year ended December 31, 2020, the Company recognized $0.6 million of revenue related to the CARB-X grant.

NIH grant

In May 2018, the Company was awarded a grant from the NIH for the Diagnostics via Rapid Enrichment, Identification, and Phenotypic Antibiotic Susceptibility Testing of Pathogens from Blood project. The structure of

the agreement consisted of a $1.3 million initial funding term through April 2019 with the possibility of an additional $4.4 million of funding through April 2023, subject to the availability of funds and satisfactory progress of the project. In April 2020, the Company exercised its second one-year option under the grant, extending the term through April 2021. In April 2021, the Company exercised its third one-year option under the grant, extending the term through April 2022. As of December 31, 2021, there is $1.8 million in additional funding available under the grant through April 2023.

During the years ended December, 31 2021 and 2020, the Company recognized $0.5 million and $1.1 million of revenue related to this grant, respectively.

NIH Rapid Acceleration of Diagnostics - RADx Initiative contracts

In July 2020, the Company was awarded a $0.4 million subaward grant from the University of Massachusetts Medical School for Phase 1 of the NIH’s RADx initiative and a $25.4 million contract from the NIH directly for Phase 2 of the RADx initiative. The RADx initiative aims to speed the development, validation, and commercialization of innovative, rapid tests that can directly detect COVID-19.

The terms and milestone conditions of the first two stages, for consideration of up to $10.1 million, was agreed to in July 2020 while the milestone conditions and terms of the final three stages, for consideration of up to $15.3 million, was agreed to in December 2020. During the year ended December 31, 2020, the Company recognized $8.9 million related to the first stage of Phase 2 of the RADx initiative.

In July 2021, the Company and the NIH agreed to an amended contract for the completion of the RADx initiative. The amendment extended the term of the contract to October 31, 2021 and decreased the potential milestone payment from $8.0 million to $4.0 million. In October 2021, the Company and the NIH agreed to a further amended contract for the completion of the RADx initiative, extending the term of the contract to January 30, 2022 and further decreased the potential milestone payment from $4.0 million to $2.0 million. The contract expired on January 30, 2022.

During the year ended December 31, 2021 the Company recognized $7.7 million related to the second stage of Phase 2 of the RADx initiative.