• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
  • Contact

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

BiondVax Announces Fourth Quarter and Full Year 2015 Financial Results and Update


News provided by

BiondVax Pharmaceuticals Ltd.

Apr 27, 2016, 05:18 ET

Share this article

Share this article


NESS ZIONA, Israel, April 27, 2016 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV, TASE: BVXV), a clinical stage biopharmaceutical company focused on developing and commercializing immunomodulation therapies for infectious diseases, today announced its fourth quarter and full year financial results ended December 31, 2015 and provided a business update.

The Company also filed its annual report on form 20F with the US Securities and Exchange Commission. This can be downloaded from BiondVax's website. A hard copy will be made available upon request.

Fourth Quarter 2015 Financial Summary

Results are in New Israel Shekels (NIS) and convenience translation to US$ is provided using the exchange rate of 3.902 as at December 31, 2015.

  • Fourth quarter operating expenses were NIS 4.06m ($1.04m) compared with NIS 1.98m last year;
  • Fourth quarter R&D expenses amounted to NIS 2.87m ($737,000) compared with NIS 1.11m last year;

Full Year 2015 Financial Summary

  • Total operating expenses were NIS 11.30m ($2.90m) compared with NIS 8.14m in 2014;
  • R&D expenses amounted to NIS 7.91m ($2.03m) compared with NIS 5.49m in 2014; the increase was primarily due to an increase in subcontractor expenses, in preparation for the European cGMP audit of BiondVax's production facility;
  • Cash, cash equivalents and short and long-term marketable securities at the end of the quarter were NIS 37.53m ($9.62m) compared with NIS 13.68m as of December 31, 2014; the growth was primarily due to the US public offering completed during May 2015;

Recent Corporate Update

  • On October 1, 2015, BiondVax designated Cytovance Biologics Inc., a Contract Manufacturing Organization (CMO), for the production of clinical batches of BiondVax's Universal Flu Vaccine (M-001) in order to be ready for phase 3 clinical trials in the 2017/2018 timeframe;
  • At the end of September 2015, a phase 2b clinical trial was initiated in Europe in collaboration with the UNISEC European Consortium. Among other goals the study aims to show the dose sparing potential of M-001 when given prior to avian vaccine, a highly desirable feature in a pandemic scenario, when existing stockpiles of vaccine may be insufficient. On March 28, 2016, the enrollment of 224 participants was completed. Results from this trial are expected towards the end of 2016 or early 2017.
  • On September 2, 2015, BiondVax announced a collaboration with National Institute of Allergy and Infectious Diseases (NIAID), a part of the U.S. National Institutes of Health (NIH), to commence a phase a 2b trial in the United States. This trial is which is expected to take place in 2016 and include 180 participants;
  • Since November 2015, the Company achieved three patent approvals: in Korea, United States and Israel;
  • In February 2016, the National Authority for Technological Innovation (NATI), formerly known as the Office of the Chief Scientist, agreed to partly fund an additional project towards the ongoing development of the Company's Universal Flu Vaccine;
  • The company and its management continue to actively engage in an investor and public relations program including monthly non-deal roadshows and investor conference appearances with US and international investors;
  • Three articles about BiondVax were published in mass media including the Huffington Post and Living Well magazine. Additionally, Zacks Research launched research coverage on BiondVax's stock with a Buy rating. Furthermore, BiondVax launched a newsletter and blog (blog.biondvax.com) for those interested in the flu and BiondVax;

Dr. Ron Babecoff, CEO of BiondVax commented: "The fourth quarter of 2015 and beyond remain very active for BiondVax. We continue to make progress towards our interim goal of being phase 3 ready in the 2017/2018 timeframe, having recently completed full enrollment in our European phase 2 trial. Following FDA acceptance of our IND application earlier this year for a phase 2 study, we are also excited that the NIAID/NIH agreed to collaborate and fund an upcoming trial in the United States. We are currently working with them closely in order to start this trial later this year.

"While the 2015/2016 flu season was a relatively tame one, the current flu vaccine effectiveness has not changed from the typical range, averaging about 40% over the last decade. We are encouraged because as time passes and we look back on our progress over the past year, we see that we are closer to our goal," concluded Dr. Babecoff. 

About BiondVax
BiondVax is a biopharmaceutical company developing a universal flu vaccine. The vaccine is designed to provide multi-season protection against most seasonal and pandemic human influenza virus strains. BiondVax's proprietary technology utilizes a unique combination of conserved and common peptides from influenza virus proteins, activating both arms of the immune system for a cross-protecting and long-lasting effect. BiondVax is traded onNASDAQ: BVXV and TASE: BVXV. For more information, please visit www.biondvax.com.

Contact Details

BiondVax

Joshua Phillipson

Business Development Manager

+972 8 930 2529

[email protected]  

Investor Relations

Kenny Green, Partner

GK Investor Relations

+1 646 201 9246

[email protected]

Forward Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties reflect the management's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause the results to differ materially from those expected by the management of BiondVax Pharmaceuticals Ltd. risks and uncertainties include, but are not limited to, the risk that drug development involves a lengthy and expensive process with uncertain outcome, the results of the contemplated Phase 2 & 3 trials, the impact of the global economic environment on the Company customer target base, the adequacy of available cash resources and the ability to raise capital when needed. The risks, uncertainties and assumptions referred to above are discussed in detail in our reports filed with the Securities and Exchange Commission, including our Prospectus which was declared effective on May 11, 2015. BiondVax Pharmaceuticals Ltd. undertakes no obligation to update or revise any forward-looking statements.

** Tables to Follow **

BALANCE SHEETS















Convenience

In thousands, except per share data







translation




December 31,


December 31,




2014


2015


2015




N I S


U.S. dollars





 CURRENT ASSETS:








Cash and cash equivalents



9,612


33,470


$8,578

Marketable securities



2,016


2,016


517

 Other receivables



1,081


1,442


370












12,709


36,928


9,465

 LONG‑TERM ASSETS:








 Marketable securities



2,049


2,048


525

 Property, plant and equipment



2,638


2,044


524

 Other long term assets



1,066


287


73












5,753


4,379


1,122












18,462


41,307


$10,587

 CURRENT LIABILITIES:








 Trade payables



524


931


$239

 Other payables



1,289


768


197












1,813


1,699


436

 LONG‑TERM LIABILITIES:








 Options



-


5,994


1,536

 Severance pay liability, net



62


69


18












62


6,063


1,554









 SHAREHOLDERS' EQUITY :-








 Ordinary shares of NIS 0.0000001 par value:








Authorized: 391,000,000 shares as of 

   December 31, 2014 and 2015; Issued and  

   Outstanding: 54,297,367 and 135,097,367 

   shares respectively



*) -


*) -


*) -

 Share premium



83,517


110,679


28,365

Warrants



2,536


2,536


650

 Other comprehensive income



17


12


3

 Accumulated deficit



(69,483)


(79,682)


(20,421)












16,587


33,545


8,597












18,462


41,307


$10,587


*) Represents an amount lower than NIS 1.

STATEMENTS OF COMPREHENSIVE INCOME








In thousands, except per share data

















Convenience translation




Year ended

December 31,


Year ended

December 31,




2013


2014


2015


2015




N I S


U.S. dollars















Operating expenses:










Research and development, net of participations



5,451


5,492


7,906


$2,026

Marketing, general and administrative



2,190


2,650


3,397


870











Total operating expenses



7,641


8,142


11,303


2,896











Operating loss



(7,641)


(8,142)


(11,303)


(2,896)

Financial income



157


394


1,128


289

Financial expense



(552)


(16)


(24)


(6)











Net loss        



(8,036)


(7,764)


(10,199)


$(2,613)











Other comprehensive income (loss):










Items to be reclassified to profit or loss in subsequent periods:










Gain (loss) from available-for-sale marketable securities



4


(4)


(5)


(1)











Total comprehensive loss



(8,032)


(7,768)


(10,204)


$(2,614)





















Basic and diluted net loss per share (NIS)



(0.17)


(0.14)


(0.10)


$(0.03)











Weighted average number of shares outstanding used to compute basic and diluted loss per share



47,946,163


54,286,227


105,522,642


105,522,642












SOURCE BiondVax Pharmaceuticals Ltd.

Related Links

http://www.biondvax.com

Modal title

Also from this source

BiondVax to present at Recent Advances in Fermentation Technology (RAFT) 14 Conference

BiondVax to present at Recent Advances in Fermentation Technology (RAFT) 14 Conference


BiondVax provides plan to address Nasdaq compliance

BiondVax provides plan to address Nasdaq compliance

Explore

More news releases in similar topics

  • Banking & Financial Services
  • Infection Control
  • Earnings
  • FDA Approval
  • FDA Approval

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2023 Cision US Inc.