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.
