BVXV - InvestorNewsBreaks - BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) Releases Q3 2022 Financial Results Corporate Updates
BiondVax Pharmaceuticals (NASDAQ: BVXV), a biotech company that focuses on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases, is reporting on its third quarter, the period ending Sept. 30, 2022; the report also included key company updates. Highlights of the report included the strategic research collaboration between BiondVax, the Max Planck Institute for Multidisciplinary Sciences and the University Medical Center Göttingen; the three companies are working to develop a pipeline of innovative nanosized antibody (“NanoAb”) therapies. The company is also working to regain compliance with NASDAQ listing rules regarding minimum shareholders’ equity and minimum share bid price; those efforts have included a ratio change between its ordinary shares and its American Depositary Shares (“ADSs”) traded on the Nasdaq exchange and submission of a plan to regain compliance with the minimum shareholders’ equity requirement. In addition, BiondVax reported net profit/loss numbers for Q3 2022 was a profit of NIS 3.7 million ($1.05 million) compared to a loss of NIS 9 million for Q3 2021. The report also showed R&D expenses for the quarter totaled NIS 3.9 million ($1.1 million) compared to NIS 2 million for Q3 2021; marketing, general and administrative expenses for the quarter reached NIS 3.3 million ($1 million) compared to NIS 6.0 million for the same quarter in 2021; and other income in the amount of NIS 11,201 ($3,161) as a result of the EIB loan revaluation. No additional other income was recorded in the first nine months of 2022. As of Sept. 30, 2022, BiondVax had cash and cash equivalents of NIS 29.4 million ($8.3 million) compared to NIS 54 million as of Dec. 31, 2021.
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About BiondVax Pharmaceuticals Ltd.
BiondVax Pharmaceuticals, a biotechnology company focused on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases. Since its inception, the company has executed eight clinical trials including a seven-country, 12,400-participant, phase 3 trial of its vaccine candidate; the company also has a state-of-the-art manufacturing facility for biopharmaceutical products. With highly experienced pharmaceutical industry leadership, BiondVax is aiming to develop a pipeline of diversified and commercially viable products and platforms beginning with an innovative NanoAb pipeline. For more information about the company, please visit www.BiondVax.com
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