JERUSALEM, May 20, 2020 /PRNewswire/ -- BiondVax
Pharmaceuticals Ltd. (Nasdaq: BVXV), developer of the M‑001
universal influenza vaccine candidate, today announced receipt of
proceeds of approximately $4.2
million since January 1, 2020
through exercises of BiondVax warrants. The publicly traded
warrants, which were issued to investors in connection with
BiondVax's initial public offering on Nasdaq in 2015, had an
exercise price of $6.25, traded on
Nasdaq under the symbol BVXVW, and expired May 15, 2020. Warrants issued to underwriters in
connection with the initial public offering expired May 11, 2020.
As announced in January 2020,
holders of outstanding warrants were permitted to exercise their
warrants on either a cash or cashless basis. Following the
warrants' exercise and expiry, there are currently 11,353,634
outstanding BiondVax American Depositary Shares ("ADSs"). BiondVax
ADSs are traded on Nasdaq under the symbol BVXV.
As filed in a 6-K with the SEC on April
30, 2020, BiondVax expects to file its Annual Report on Form
20-F for the year ended December 31,
2019 no later than June 14,
2020.
BiondVax's pivotal, clinical efficacy, Phase 3 trial in
Europe is ongoing. The trial,
which is assessing M‑001's ability to provide clinical protection
from any circulating influenza strain, is being conducted with
12,463 volunteers aged 50+ (with half aged 65+) over two flu
seasons in 7 countries. Results of the Phase 3 trial continue to be
expected by the end of 2020.
About BiondVax
BiondVax (NASDAQ: BVXV) is a Phase 3 clinical stage
biopharmaceutical company developing a universal flu vaccine. The
vaccine candidate, called M-001, is designed to provide
multi-strain and multi-season protection against current and
future, seasonal and pandemic influenza. BiondVax's proprietary
technology utilizes a unique combination of conserved and common
influenza virus peptides intended to stimulate both arms of the
immune system for a cross-protecting and long-lasting effect. In a
total of 7 completed Phase 1/2 and Phase 2 clinical trials
enrolling 818 participants, the vaccine has been shown to be safe,
well-tolerated, and immunogenic. The ongoing pivotal Phase 3
clinical trial aims to assess safety and effectiveness of M-001 in
reducing flu illness and severity. For more information, please
visit www.biondvax.com.
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 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, risks relating to the COVID-19 (coronavirus) pandemic,
including a risk of delay in the availability of the top line
results from our pivotal clinical efficacy Phase 3 trial for M-001,
the prosecution, timing and results of the ongoing Phase 2 and
Phase 3 trials and any subsequent trials; timing of receipt of
regulatory approval of our manufacturing facility in Jerusalem; ability to demonstrate the efficacy
and safety of the vaccine; the timing of clinical trials and
marketing approvals; the risk that drug development involves a
lengthy and expensive process with uncertain outcome; the ability
of the Company to maintain, preserve and defend its intellectual
property and patents granted; whether our vaccine candidate
will successfully advance through the clinical trial process on a
timely basis, or at all, and receive approval from the U.S. Food
and Drug Administration or equivalent foreign regulatory agencies;
the adequacy of available cash resources and the ability to raise
additional capital when needed. More detailed information about the
risks and uncertainties affecting the Company is contained under
the heading "Risk Factors" in our Annual Report on Form 20-F for
the year ended December 31, 2018
filed with the U.S. Securities and Exchange Commission, or SEC,
which is available on the SEC's website, www.sec.gov. We undertake
no obligation to revise or update any forward-looking statement for
any reason.
Contact Details
Joshua E.
Phillipson
+972 8 930
2529
j.phillipson@biondvax.com
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SOURCE BiondVax Pharmaceuticals Ltd.