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BiondVax Announces Third Quarter 2020 Financial Results & Business Update
Updated Thu, January 28, 2021, 10:25 PM
JERUSALEM, Jan. 28, 2021 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV), a biopharmaceutical company focused on developing, manufacturing and ultimately commercializing products for the prevention and treatment of infectious diseases and related illnesses, today announced its third quarter financial results for the quarter ended September 30, 2020.
Third Quarter 2020 Financial Summary
Results are in New Israel Shekels (NIS) and convenience translation to $US is provided using the exchange rate of 3.441 (NIS/$US) as at September 30, 2020.
Total operating income for the third quarter was NIS 55.6 million (approximately $16.1 million) compared with a total operating loss of NIS 19.0 million for the third quarter of 2019.
R&D expenses, net of participations, for the third quarter amounted to NIS 12.6 million (approximately $ 3.7 million) compared with NIS 16.1 million for the third quarter of 2019.
Net profit for the third quarter was NIS 55.3 million (approximately $ 16.1 million) compared to a net loss of NIS 19.4 million for the third quarter of 2019.
As of September 30, 2020, BiondVax had cash and cash equivalents of NIS 24.8 million (approximately $7.2 million) compared to NIS 72.5 million as of December 31, 2019. At the currently anticipated burn rate going forward, BiondVax has sufficient funds to continue operations through the end of Q2 2021.
Recent Business Updates:
On October 23, 2020, BiondVax announced that the Phase 3 clinical trial of the Company's M–001 universal flu vaccine candidate failed to meet the trial's primary and secondary efficacy endpoints.
On January 21, 2021, BiondVax announced the appointment of Amir Reichman as its new CEO. Reichman currently serves as Head of Global Vaccines Engineering Core Technologies and Asset Management at GSK Vaccines headquarters in Belgium.
In light of the Phase 3 clinical trial results, Company's management estimates that there will be no future revenues from the M-001. Therefore, most likely, there will be no future royalty payments to the Israel Innovation Authority (IIA) & European Investment Bank (EIB). The operating income and net profit noted in these Q3 2020 financial results are attributable primarily to the revaluation of the liabilities to the IIA and EIB on the Company's balance sheet in accordance with applicable IFRS standards, offset by R&D, Marketing, and G&A expenses.
BiondVax is currently pursuing collaborations and other opportunities in the infectious disease space, including exploring several alternatives for development of a new product pipeline.
Added BVXV friday. MM's are manipulating as usual to get cheap shares daily then bring the pps back up to sell those shares they took from sellers while they brought it down. Looking for new highs based on the upward climbing chart very obvious. $7.22 hod next $7.50
https://schrts.co/icsNcmKv
going down because of low volume selling by weak hands in AH trading. Tomorrow the story continues.
Then why is it going down////
hold on tight ladies and gents. AH fun continues.This gap is huge! Strong buying here. Volume is insane. Float is locked and loaded.
Indeed so. As the PR specifically says:
A few days ago, the stock traded with so much unusual buying, that it tripped the circuit breaker. Must've been this news
New highs 5.45 ¡¡¡Goal 16 ? $BVXV
BiondVax Announces Appointment of Amir Reichman as New CEO
January 21 2021 - 07:15AM
https://finance.yahoo.com/news/biondvax-announces-appointment-amir-reichman-121500032.html
[Finally some news]
JERUSALEM, Jan. 21, 2021 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV), a biopharmaceutical company focused on development and manufacturing of products for the prevention and treatment of infectious diseases, today announced the appointment of Amir Reichman as its new CEO. Mr. Reichman and Ron Babecoff, BiondVax's founder and current CEO, will share duties during a transition period while Mr. Reichman completes his work obligations at GlaxoSmithKline (GSK), a global pharmaceutical company. Effective March 2, 2021, Mr. Reichman will assume the CEO position full time and Mr. Babecoff will continue as Senior Advisor to the Company.
BiondVax Announces Appointment of Amir Reichman as New CEO (PRNewsfoto/BiondVax Pharmaceuticals Ltd.)
Born and educated in Israel, Mr. Reichman currently serves as Head of Global Vaccines Engineering Core Technologies and Asset Management at GSK Vaccines headquarters in Belgium. Prior to his current role in global vaccines engineering, he served as Senior Director Global GSK Vaccines Supply Chain. Mr. Reichman joined GSK in 2015 after its acquisition of Novartis Vaccines. At Novartis Vaccines, he held various leadership roles of increasing responsibility in its Global Vaccines Supply Chain Management organization located in Holly Springs, NC, USA. In 2003, Mr. Reichman's academic work at Ben Gurion University of the Negev contributed to the founding of NeuroDerm Ltd., an Israeli company focused on transdermal drug delivery systems that was acquired by Mitsubishi Tanabe Pharma in 2017 for $1.1B. He was NeuroDerm's first employee and served as the company's Chief Engineer and Senior Scientist until his departure in 2009. Mr. Reichman earned an M.Sc. in Biotechnology Engineering from the Ben-Gurion University of the Negev in Israel, and an MBA in Finance and Health Care Management from the Wharton School of the University of Pennsylvania, USA.
Mr. Mark Germain, BiondVax's Chairman of the Board, commented, "The Board of Directors is extremely pleased that Amir has accepted the opportunity to lead BiondVax. After many years abroad, in which he gained pharmaceutical industry senior leadership experience at Novartis and GSK, his return to Israel comes at an auspicious time for BiondVax. Amir's capabilities align closely with our vision of growing BiondVax into a multi-asset biopharmaceutical company with a focus on infectious diseases. Together, we are already working diligently to expand our pipeline in the infectious diseases space by leveraging our assets, including our vaccine manufacturing facility, IP, people and extensive drug development experience."
Germain continued, "On behalf of the Board, I wish to thank and commend Ron for his unyielding dedication in founding BiondVax and leading it through preclinical development to eight clinical trials, construction of our state-of-the-art GMP vaccine manufacturing facility, as well as TASE and Nasdaq listings. A number of Ron's accomplishments were unprecedented for an Israeli company and I think would compare favorably with the best in breed biotech companies anywhere, including the 12,400 participant, 105 site, seven country Phase 3 clinical trial that was conducted on time and on budget in the face of the growing threat of COVID-19, and the €24m European Investment Bank (EIB) non-dilutive financing agreement which was the first such EIB agreement with a non-EU country. Ron's experience, knowledge and contribution as Senior Advisor will provide ongoing significant value to the Company and I look forward to continuing a strong, productive and beneficial working relationship."
Mr. Amir Reichman noted, "I am extremely excited and thrilled to assume the role of BiondVax's CEO. Thanks to the strong foundations built by Ron and his team, as well as the experience and ongoing support of our Board of Directors, BiondVax has tremendous potential to grow into a leading pharmaceutical company. Our mission at BiondVax is to create a healthier world by preventing and curing infectious diseases. To do that, I envision BiondVax becoming a world player; a trusted and preferred bio-pharma company known for its highly innovative products, fast product development, and reliable supply of high-quality and effective medicinal products. While results of the M-001 vaccine candidate's Phase 3 trial were disappointing, our team has gained many strengths and experience in innovative product research, preclinical and clinical development, and GMP manufacturing in our state-of-the-art facility in Jerusalem. These organizational capabilities are key for a successful turnaround. We continue to believe there is a compelling need and demand for vaccines and therapeutics for infectious diseases, and we are currently exploring various potential paths forward including collaborations and other opportunities to build a new product pipeline that will help us achieve our mission. I wish to thank the board for their trust, and Ron for his support as I transition into the CEO role."
Dr. Ron Babecoff commented, "After dedicating eighteen years towards the project of developing a universal flu vaccine, including fifteen as BiondVax's President and CEO, I feel it is the right time to hand over leadership of the Company to Amir, who I believe has the right personality and experience to lead BiondVax to its next phase. I am proud of our accomplishments over the many years of intensive R&D activities from preclinical through a Phase 3 clinical trial, international collaborations such as with the NIH and the EIB, as well as construction of a new state-of-the-art vaccine manufacturing facility in Jerusalem. I would like to express my deep gratitude to my devoted team with whom we achieved so much over the years. I also wish to thank BiondVax's board members and scientific advisory board, both current and previous, as well as our shareholders, and our many other stakeholders for their continuous support. Finally, I look forward to seeing BiondVax reach its new ambitious goals for the sake of improving global health."
Today posted the heaviest volume since October. However, no news posted
Spiked, and triggered the circuit breaker
Trying to find news. Someone said news was posted then taken down. Not sire though. Trying to figure it out
With this Spahn letter, the vaccine disaster began in the EU
Merkel and von der Leyen urged the health minister to cede the vaccine mandate to the EU
https://m.bild.de/politik/inland/politik-inland/mit-diesem-spahn-brief-begann-das-impfstoff-desaster-bei-der-eu-74734176,view=amp.bildMobile.html?__twitter_impression=true
$BVXV
Big rise in AFTER that coincides with FDA approval of the MODERNA vaccine ... is there any relationship between $ BVXV and #MODERNA ?
A new study just published Dec 16 includes BVXV in Chapter 5, its list of Top Key Players. Unless it's just an update on the Oct 23 results. Unf, I don't plan on spending the $3,360 for the report.
https://www.marketwatch.com/press-release/all-vaccine-market-size-industry-share-global-analysis-development-status-regional-trends-opportunity-assessment-and-comprehensive-research-study-till-2025-2020-12-16?siteid=bigcharts&dist=bigcharts&tesla=y
1 milligram ANJESO = $107
Will we have the results today or tomorrow?
Now Zachs estimates 12/15 as the new Earnings date. Keeps getting pushed back...
BVXV will go back to $40.00 pps
BVXV 4.02 will take of today
BVXV~~looking great this morning
Why is there STILL no announcement or Earnings Report from mgmt??? Since they are 7 hours ahead of us, Earnings Report should have been made by CEO by now - it was due Dec 8. Where is the info? As a publicly traded co, they can't hide!
Agree $10+ will be coming. Slightest news and this little float will rocket
And will continue moving up! buy and hold.
$4.40 only took 6 weeks to move after crash
Well at least I was able to accumulated in the past 3 weeks, this is a nice 20% up but Im looking for at least 300% increase to a fair price of $10.00 per share in the next 6 months.
BUYING & HOLD sentiment....BVXV$
The thing is simple ... the world needs 10,000 million vaccines, at present there is not enough production so new laboratories, agreements etc will be enabled ... by the way, the CEE lent in 2017 € 25 million to build a vaccine laboratory ... believe that the CEE does not want to recover its 25 million? Suppose a net profit or margin $ 10 per vaccine (BVXV 20 million vaccines x 10 = $ 200 million per year income ¡¡¡)
excuse my bad English.
have a good weekend
Big rise Today we already have the agreement ?? $BVXV
MarketWatch is reporting "BVXV will report 2020 earnings on 04/29/2021" so this is different from MarketBeat. https://www.marketwatch.com/investing/stock/bvxv/analystestimates?mod=mw_quote_tab
I read on MarketBeat this a.m. next Earnings Report will be Dec. 8. They better announce a partner/deal/merger with someone since nothing in the pipeline!
making money outside this....I Still holding.....$7-10 range soon!$
We are accumulating moved days in the OTC, a lot of volume, we have to be patient ... let's see if there is corporate news, this has to be very big
Getting ready before the storm!! next leg can hit easily $7-10 range.
beautiful day here after hit 3.4.....
- no intention to advise or recommend to sell or buy this stock. just opinion.
Looks to have stopped trading. Share count has not changed in an hour.
Hope its not TD this time.
mayor breakout is coming!
$10!!! that will be AWESOME!!!
Today we will see little volume in $BVXV at the close ... I hope to see you soon above $10
With some volume we can go back to $8-10 range
DOES ANYONE KNOW WHEN THE RESULTS ARE? today ?
They better have something good to say!
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