JERUSALEM, Israel, Oct. 2, 2020 /PRNewswire/ -- BiondVax
Pharmaceuticals Ltd. (Nasdaq: BVXV), developer of the Phase 3
clinical trial M–001 universal influenza vaccine candidate
("BiondVax" or the "Company"), today announced it has entered into
an agreement with BofA Securities as lead sales agent, and
Citigroup and Credit Suisse as participating sales agents
(collectively, the "Agents"), related to a $100 million At-The-Market (the "ATM Program")
equity offering program pursuant to a prospectus supplement filed
today with the Securities and Exchange Commission (the "SEC").
BiondVax is not obligated to sell any American Depositary Shares
("ADSs") under the ATM Program. The timing of any sales will depend
on a variety of factors to be determined by BiondVax. The Company
currently intends to use the net proceeds from the ATM Program, if
any, for general corporate purposes, which may include working
capital, research and development activities, regulatory matters,
capital investment or other related purposes, and
pre-commercialization and commercialization activities. We may also
use a portion of any net proceeds to in-license, invest in or
acquire businesses, assets or technologies that we believe are
complementary to our own, although we have no current plans,
commitments or agreements with respect to any in-license,
investment or acquisition.
The BiondVax ADSs will be offered and sold through the Agents.
Sales of ADSs may be made by any method permitted by law deemed to
be an "at-the-market offering" as defined in Rule 415 of the
Securities Act of 1933, as amended. Sales may be made at market
prices prevailing at the time of the sale, at prices related to
prevailing market prices or at negotiated prices and, as a result,
sales prices may vary.
Under the terms of the Agreement, BiondVax may also sell ADSs
directly to any of the Agents, as principal for its own account, at
a price agreed upon at the time of sale. If the Company agrees to
sell shares to any Agent as principal, it will enter into a
separate terms agreement with such Agent.
A shelf registration statement was previously filed with the SEC
and declared effective by the SEC on August
10, 2020. A prospectus supplement adds to, updates or
otherwise changes information contained in the accompanying
prospectus and has been filed with the SEC and is available on the
SEC's website located at www.sec.gov. Prospective investors should
read the prospectus, the prospectus supplement and other documents
the Company has filed with the SEC (some of which are incorporated
by reference into the prospectus and prospectus supplement) for
more complete information about the Company, the ATM Program and
the risks the Company currently is facing. You may obtain copies of
the prospectus supplement and accompanying prospectus relating to
the offering without charge by visiting the SEC's website at
www.sec.gov. Alternatively, the issuer, any sales agent or any
dealer participating in the offering will arrange to send you the
prospectus and the prospectus supplement if you request them by
writing to BofA Securities at NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte NC 28255-0001, Attn:
Prospectus Department or emailing dg.prospectus_requests@bofa.com,
calling Citigroup at 1-800-831-9146 or calling Credit Suisse at
1-800-221-1037 or emailing usa.prospectus@credit-suisse.com.
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy any ADSs of
the Company, which is made only by means of a prospectus supplement
and related prospectus. There will be no sale of ADSs in any
jurisdiction in which the offer, solicitation of an offer to buy or
sale would be unlawful.
About BiondVax
BiondVax (NASDAQ: BVXV) 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 seven 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, which enrolled more than 12,400 participants
over two flu seasons in 83 sites across seven countries,
aims to assess safety and effectiveness of M-001 in reducing flu
illness and severity.
Contact Details
Joshua E.
Phillipson | +972 8 930 2529 |
j.phillipson@biondvax.com
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Litigation Reform Act of 1995. Words such as "expect,"
"believe," "intend," "plan," "continue," "may," "will,"
"anticipate," and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
reflect the management's current views with respect to certain
current and future events and are subject to various risks,
uncertainties and assumptions that could cause the results to
differ materially from those expected by the management of BiondVax
Pharmaceuticals Ltd. Risks and uncertainties include, but are not
limited to, risks relating to the COVID-19 (coronavirus) pandemic,
the prosecution, timing and results of the ongoing Phase 2 and
Phase 3 trials and any subsequent trials; timing of receipt of
regulatory approval of our manufacturing facility in Jerusalem; ability to demonstrate the efficacy
and safety of the vaccine; the timing of clinical trials and
marketing approvals; the risk that drug development involves a
lengthy and expensive process with uncertain outcome; the ability
of the Company to maintain, preserve and defend its intellectual
property and patents granted; whether our vaccine candidate
will successfully advance through the clinical trial process on a
timely basis, or at all, and receive approval from the U.S. Food
and Drug Administration or equivalent foreign regulatory agencies;
the adequacy of available cash resources and the ability to raise
additional capital when needed. More detailed information about the
risks and uncertainties affecting the Company is contained under
the heading "Risk Factors" in our prospectus filed today and our
Annual Report on Form 20-F for the year ended December 31, 2019 filed with the U.S. Securities
and Exchange Commission, or SEC, which is available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
revise or update any forward-looking statement for any
reason.
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SOURCE BiondVax Pharmaceuticals Ltd.