NetworkNewsBreaks – BiondVax Pharmaceuticals Ltd
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Posted On: 08/11/2023 4:20:10 PM
NetworkNewsBreaks – BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) Releases Q2 Financial Report, Corporate Update
BiondVax Pharmaceuticals (NASDAQ: BVXV), a biotechnology company focused on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases, is reporting on its financial results for the second quarter ended June 30, 2023; the report also included a business update. Highlights of the report include R&D expenses for the quarter totaled $1.45 million compared with $1.97 million for the same period in 2022; marketing, general and administrative expenses for the quarter reached $1.14 million compared with $1.29 million for the 2022 period; total operating expenses for the quarter amounted to $2.56 million compared with $3.26 million for Q2 2022. The report also showed that financial (loss) income for Q2 totaled $1.16 million loss compared with $0.28 million income for the three months ended June 30, 2022, with net loss for the same period reaching $3.76 million compared with $2.98 million for same period in 2022. Business updates include the creation of a contract development and manufacturing organization (“CDMO”) in parallel to its innovative R&D business unit; the move is designed to leverage its aseptic manufacturing site and laboratories. In addition, the company signed an exclusive license agreement with Max Planck Innovation for development and commercialization of a novel anti-IL-17 NanoAb (VHH antibody) for treatment of autoimmune and inflammatory diseases including psoriasis, and the company is also pursuing a strategic partnership for its COVID-19, self-administered inhaled NanoAb therapeutic/prophylactic. The company also noted that NanoAbs for treatment of additional autoimmune diseases are being developed as part of a research collaboration with Max Planck and University Medical Center Göttingen.
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BiondVax Pharmaceuticals (NASDAQ: BVXV), a biotechnology company focused on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases, is reporting on its financial results for the second quarter ended June 30, 2023; the report also included a business update. Highlights of the report include R&D expenses for the quarter totaled $1.45 million compared with $1.97 million for the same period in 2022; marketing, general and administrative expenses for the quarter reached $1.14 million compared with $1.29 million for the 2022 period; total operating expenses for the quarter amounted to $2.56 million compared with $3.26 million for Q2 2022. The report also showed that financial (loss) income for Q2 totaled $1.16 million loss compared with $0.28 million income for the three months ended June 30, 2022, with net loss for the same period reaching $3.76 million compared with $2.98 million for same period in 2022. Business updates include the creation of a contract development and manufacturing organization (“CDMO”) in parallel to its innovative R&D business unit; the move is designed to leverage its aseptic manufacturing site and laboratories. In addition, the company signed an exclusive license agreement with Max Planck Innovation for development and commercialization of a novel anti-IL-17 NanoAb (VHH antibody) for treatment of autoimmune and inflammatory diseases including psoriasis, and the company is also pursuing a strategic partnership for its COVID-19, self-administered inhaled NanoAb therapeutic/prophylactic. The company also noted that NanoAbs for treatment of additional autoimmune diseases are being developed as part of a research collaboration with Max Planck and University Medical Center Göttingen.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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