JERUSALEM, Israel, Feb. 2, 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 the
closing of its previously announced underwritten offering. The
total number of American Depositary Shares ("ADS") sold by the
Company was 2,434,783, each ADS representing forty (40) of its
ordinary shares, at a public offering price of $4.95 per ADS, for gross proceeds to the Company
of approximately $12.1 million,
before deducting underwriting discounts and other offering
expenses.
In connection with the offering, the Company has also granted
the underwriters a 30-day option to purchase up to an additional
15% of the number of ADSs offered to the public at the public
offering price, less underwriting discount, for covering
over-allotments, if any. If the over-allotment option is exercised
in full it would increase the total gross proceeds of the offering
to approximately $13.8 million.
Aegis Capital Corp. acted as sole bookrunning
manager for the offering.
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 the
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.
The ADSs described above were offered by the Company pursuant to
a registration statement that was previously filed with the
Securities and Exchange Commission (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 are 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 and
treatment of infectious diseases and related illnesses. The
Company had been developing M–001, a novel influenza 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 influenza virus 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.
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 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, 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 influenza 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 BiondVax's
manufacturing facility in Jerusalem, if at all or when required; and the
risk that drug development involves a lengthy and expensive process
with uncertain outcomes. More detailed information about the risks
and uncertainties affecting the Company is contained under the
heading "Risk Factors" in our prospectus supplement, which is
available on the SEC's website, www.sec.gov. BiondVax undertakes no
obligation to revise or update any forward-looking statement for
any reason.
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SOURCE BiondVax Pharmaceuticals Ltd.