BiondVax Pharmaceuticals Ltd (BVXV)

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BiondVax Announces Second Quarter 2016 Financial Results and Update

NESS ZIONA, Israel, Aug. 18, 2016 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV; TASE: BVXV), a clinical stage biopharmaceutical company focused on developing and commercializing a vaccine against current and future seasonal and pandemic influenza strains, today announced its second quarter 2016 financial results ended June 30, 2016 and provided a business update.

Second Quarter 2016 Financial Summary

Results are in New Israel Shekels (NIS) and convenience translation to US$ is provided using the exchange rate of 3.846 as at June 30, 2016.

Second quarter operating expenses were NIS 2.47m ($644,000) compared with NIS 3.21m in the second quarter of last year;
Second quarter R&D expenses amounted to NIS 1.48m ($385,000) compared with NIS 2.61m in the second quarter of last year;
Cash, cash equivalents and short and long-term marketable securities at the end of the quarter were NIS 30.65m ($7.97m) compared with NIS 37.53m as of December 31, 2015;
Recent Corporate Update

Clinical trials are progressing. The EU UNISEC sponsored Phase 2b clinical trial completed enrollment and results are being analyzed. The US NIH Phase 2 trial preparations are well into advanced stages. Furthermore, US-based Cytovance is beginning to scale-up production of BiondVax's universal flu vaccine candidate M-001 for Phase 3 clinical trials, which is expected to be ready by H1 2017.
In August, a video feature on BiondVax was published by a leading Israeli portal. The video can be viewed at

. In addition, BiondVax launched a newsletter. The most recent edition can be viewed at http://us12.campaign-archive2.com/?u=37c158f4953dfecaabf88a035&id=763a628862. To receive BiondVax updates directly to your inbox please email [e-mail].
Dr. Ron Babecoff, CEO of BiondVax commented: "Our progress continued into the second quarter according to plans. The work with our partners in our different collaborations is also moving forward at a good pace. As each quarter passes, we are coming closer towards our goal of bringing a universal flu vaccine to market."



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 on NASDAQ: BVXV and TASE: BVXV. For more information, please visit www.biondvax.com.