NESS ZIONA, Israel, Aug. 18, 2016 /PRNewswire/ -- BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV; TASE: BVXV), a clinical stage biopharmaceutical company focused on developing and commercializing a vaccine against current and future seasonal and pandemic influenza strains, today announced its second quarter 2016 financial results ended June 30, 2016 and provided a business update.
Second Quarter 2016 Financial Summary
Results are in New Israel Shekels (NIS) and convenience translation to US$ is provided using the exchange rate of 3.846 as at June 30, 2016.
- Second quarter operating expenses were NIS 2.47m($644,000) compared with NIS 3.21m in the second quarter of last year;
- Second quarter R&D expenses amounted to NIS 1.48m($385,000) compared with NIS 2.61m in the second quarter of last year;
- Cash, cash equivalents and short and long-term marketable securities at the end of the quarter were NIS 30.65m ($7.97m) compared with NIS 37.53m as of December 31, 2015;
Recent Corporate Update
- Clinical trials are progressing. The EU UNISEC sponsored Phase 2b clinical trial completed enrollment and results are being analyzed. The US NIH Phase 2 trial preparations are well into advanced stages. Furthermore, US-based Cytovance is beginning to scale-up production of BiondVax's universal flu vaccine candidate M-001 for Phase 3 clinical trials, which is expected to be ready by H1 2017.
- In August, a video feature on BiondVax was published by a leading Israeli portal. The video can be viewed at https://www.youtube.com/watch?v=iqzZd4hsvSw. In addition, BiondVax launched a newsletter.
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