BiondVax Announces Receipt of $4.2 Million Through Exercise of Warrants
Wed May 20, 2020 6:30 AM|PR Newswire|About: BVXV
JERUSALEM, May 20, 2020 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (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.
BiondVax 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. https://seekingalpha.com/pr/17876781-biondvax-announces-receipt-of-4_2-million-through-exercise-of-warrants?ifp=0&utm_medium=email&utm_source=seeking_alpha&mail_subject=pre-market-summary-on-your-portfolio-dup&utm_campaign=nl-portfolio&utm_content=link-8