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
intention to offer its American Depositary Shares ("ADSs") in an
underwritten public offering. In connection with the offering,
BiondVax expects to grant the underwriter a 30-day option to
purchase up to an additional 15% of the ADSs to be sold in the
offering to cover over-allotments, if any. The ADSs are being
offered by BiondVax pursuant to an effective shelf registration
statement on file with the Securities and Exchange Commission (the
"SEC").
BiondVax intends to use the net proceeds from the offering,
together with its existing cash and cash equivalents, for general
corporate purposes, which may include working capital, research and
development activities, regulatory matters, capital investment or
other related purposes. The Company may also use a portion of any
net proceeds to in-license, invest in or acquire businesses, assets
or technologies that BiondVax believes are complementary to its
business focus, although BiondVax has no current commitments or
agreements in those regards.
Aegis Capital Corp. is acting as the sole book-running manager
for the offering.
The offering is subject to market conditions and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
The ADSs described above are being offered by the Company
pursuant to a registration statement that was previously filed with
the SEC and declared effective by the SEC on August 10, 2020. A prospectus supplement and
accompanying base prospectus relating to and describing the final
terms of the offering will be made available on the SEC's website
located at www.sec.gov or from Aegis Capital Corp., Attention:
Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at
syndicate@aegiscap.com, or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such jurisdiction.
About BiondVax
BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) is a
biopharmaceutical company focused on developing, manufacturing and
ultimately commercializing products for the prevention of
infectious diseases and related illnesses. The Company had been
developing M–001, a novel flu vaccine candidate that was designed
to provide multi-strain and multi-season protection against current
and future, seasonal and pandemic influenza. In seven Phase 1/2 and
Phase 2 clinical trials designed to test for immunogenicity, the
Company was able to demonstrate M-001 was effective in stimulating
an immune response to a broad range of flu strains. In October 2020, the Company completed a Phase 3
clinical trial of M–001 which failed to meet the trial's primary
and secondary efficacy endpoints. The company is now pursuing
opportunities in the infectious disease space, including exploring
several alternatives for development of a pipeline of assets. For
more information, please visit www.biondvax.com
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, including statements regarding
future business strategies that BiondVax may explore. 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, that BiondVax does not have
sufficient cash to operate its business for the next 12 months,
which raises substantial doubt about its ability to continue as a
going concern; the risk that BiondVax may not be able to secure
capital on attractive terms, if at all; the risk that
BiondVax is currently exploring new business strategies after
its M–001 universal flu vaccine candidate failed to meet the
trial's primary and secondary efficacy endpoints; the
risk that the European Investment Bank may accelerate
the loans under its finance contract with BiondVax; the risk that
BiondVax may not execute a strategic alternative to M-001; risks
relating to the COVID-19 (coronavirus) pandemic; BiondVax's ability
to acquire rights to additional product opportunities; BiondVax's
ability to enter into collaborations on terms acceptable to
BiondVax or at all; timing of receipt of regulatory approval
of our manufacturing facility in Jerusalem; the risk that drug development
involves a lengthy and expensive process with uncertain outcome;
the ability of BiondVax to maintain, preserve and defend its
intellectual property and patents granted; the adequacy of
available cash resources and the ability to raise additional
capital when needed. More detailed information about the risks and
uncertainties affecting BiondVax is contained under the heading
"Risk Factors" in BiondVax's Annual Report on Form 20-F for the
year ended December 31, 2019 and
other filings 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.