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Tag: BVXV

  • BiondVax Pharmaceuticals Ltd. (BVXV) stock Rebounds on Successful Closing of $9.8M Offering

    BiondVax Pharmaceuticals Ltd. (BVXV) stock Rebounds on Successful Closing of $9.8M Offering

    BiondVax Pharmaceuticals Ltd. (BVXV) shares entered green after the announcement of the successful closing of the $9.8M offering on Wednesday. Previously, the stock was trading in the red, hence, the news caused it to rebound and recover most of its losses of the day.

    During the regular session, the stock saw a fall of 6.83% at its closing value of $2.32 on an average volume. Following the news, the stock recovered most of its losses, reaching up to $2.47 with a 6.47% increase after hours.

    BiondVax Pharmaceuticals Ltd. has a market capitalization of $35.69 million. Currently, the company has 14.33 million shares outstanding in the market.

    BVXV’s Offering and its Close

    The company had announced the underwritten public offering on December 27, along with its pricing. The expected closing date of the offering was December 29, and as per Wednesday’s announcement, it did close on the date.

    BVXV had offered 4,144,068 American Depository Shares (ADSs) at $2.36 per ADS price. Each of the ADS in the offering represented 40 ordinary shares of the company. Moreover, the gross proceeds from the offering were $9.8 million including the successful execution of over-allotment. Further, this amount does not include underwriting discounts and other expenses.

    According to the CEO of BVXV, Amir Reichman, the net proceeds will provide the company with capital for funding the NanoAb program. The company had recently announced a nanosized antibody program under collaboration with Max Planck Institute, for Covid-19.

    In addition, the company will also use some of the net proceeds for general corporate purposes.

    Recent Developments

    On December 27, the company announced the approval of all proposed resolutions at the Annual General Meeting of Shareholders. The meeting was held on December 27, 2021. Moreover, Mr. Jay Green was elected to the company’s board of directors, as Mr. Isaac Devash retired.

    Mr. Green has vast experience in the field including the recent six-year term with GlaxoSmithKline Plc as Senior Vice President Finance and CFO.

    BVXV’s Financial Data

    On November 30, the company declared its financial results for the third quarter of 2021.

    In the third quarter of 2021, the R&D and G&A expenses were NIS 2.0 million (US$0.6 million) and NIS 6.2 million (US$1.9 million). This compares to NIS 12.6 million and NIS 7.3 million respectively, in the Q3 of 2020.

    Moreover, BVXV ended the third quarter of 2021, with cash and cash equivalents of NIS 34.6 million (US$10.7 million).

  • BiondVax Pharmaceuticals Ltd. (BVXV) Stock Dipped in Premarket, Here’s why

    BiondVax Pharmaceuticals Ltd. (BVXV) is a leading pharmaceutical company. It primarily focuses on the development, manufacture and commercialization of novel treatments for prevention of different infectious diseases. One of the leading product candidates of the company is a novel nano sized antibody (NanoAb). Other pipeline products are also in the process of development.

    The price of BVXV stock during the regular trading on December 23, 2021, with a 4.79% drop was $2.78. At last check in the pre market on December 27, 2021, the stock further dropped by 17.63%.

    BVXV: Events and Happenings

    On December 27, 2021, BVXV reported the pricing of underwritten public offering of 3,813,560 shares at a price of $2.36 per share. The gross proceeds reported to the company were $9.0 million. Each share presents 40 ordinary shares of the company.

    On December 22, 2021, BVXV reported about the collaboration with Max Planck Society and the University Medical Center Göttingen, for the development and marketing of novel COVID-19 NanoAbs. Under the broader agreement, NanoAbs could be used for other disease symptoms in the near future. This aspect of NanoAbs reinforce its unique characteristics of binding affinity, high temperature stability and more efficient pathways of administration.

    BVXV: Key Financials

    On November 30, 2021, BVXV reported its financial results for third quarter ended September 30, 2021. Some of the key highlights are as follows

    Total Assets

    The total assets reported by the company for Q3 2021 were $7.9 million as compared to the same period of 2020 when the assets were $11 million.

    Net Income/Loss per Share

    Basic and diluted net loss per share for Q3 2021 was $2.8 million or $0.02 per share against the same period of 2020 when net income was $17.6 million and per basic share it was $0.12 while per diluted share it was $0.10.

    On November 15, 2021, BVXV reported that the top management of the company presented at the 7th Virtual H.C. Wainwright Annual Conference on the same date. On October 19, 2021, BVXV reported about the 5-year strategic research collaboration with the Max Planck Society and the University Medical Center. The contract is determined by the accomplishment of definitive agreements.

    Conclusion

    The BVXV stock showed significant hike i.e., 51% in comparison to the past month. In the premarket session the stock price dropped sharply possibly due to the company’s announcement of $9 million pricing of underwritten offering of shares. The earlier progress shown by the company is reciprocated and the company should think about new policies to attract the investment.

  • BiondVax Pharmaceuticals Ltd. (BVXV) stock falling in Pre-Market today: Here’s why

    Shares of the BiondVax Pharmaceuticals Ltd. (BVXV) stock were falling in the pre-market trading session today on July 28, 2021, after gaining as much as 26.94% at the previous closing. BVXV stock price saw a downtrend of 3.20% to drop at $3.33 a share as of this writing. Let’s understand the reason behind this fall.

    What’s Happening?

    BiondVax Pharmaceuticals Ltd. is a biopharmaceutical stock focused on the prevention of infectious diseases via the development of therapies in Israel. There seems to be no major culprit behind the falling BVXV stock price. No specific news or press release has been announced to justify this bearish sentiment. It seems that the profit takers have stepped in after the BVXV stock price rose as much as $4.04 per share in the last trading session.

    Financial Results of BVXV stock:

    BiondVax stock announced its first-quarter 2021 financial results on June 23, the highlights of which are given below.

    • BiondVax recorded  NIS(New Israel Shekels) 6.7 million in total operating expenses in the first three months of 2021 as compared to NIS 20 million in the same quarter of 2020.
    • Research and development expenses were NIS 2.75 million for the first quarter of 2021, lower than research and development expenses of NIS 19.0 million in the first quarter of 2020.
    • BiondVax generated net proceeds of $12.8 million from the follow on offering on Nasdaq after deducting underwriter discounts and offering related expenses.

    The operating expense which also includes research and development expenses of Q1 2021 were lesser as compared to the same period in 2020 due to the phase 3 clinical trial and related operations expenses in 2020. The trial was ended in the fourth quarter of 2020.

    Balance Sheet of BVXV stock:

    At the end of the first quarter of 2021, BiondVax stock had cash and cash equivalents of NIS 48.6 million, much higher than the NIS 9.4 million at the end of December 2020. This rise is mainly attributed to net proceeds of $12.8 million from the follow on the offering of the stock in February 2021. As of May 12, 2021, the stock reported NIS 46 million cash and cash equivalents.

    Wrap Up:

    After reaching a certain height in the last trade, BVXV stock is now moving back without any official announcement or activity. The follow on offering that happened in February 2021 has strengthened its balance sheet.