NESS ZIONA, Israel, November 28, 2017 — BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV, TASE: BVXV), a clinical stage biopharmaceutical company focused on developing and commercializing M-001, a universal flu vaccine candidate, today announced its financial results for the quarter ended September 30, 2017 and provided a business update.

Dr. Ron Babecoff, BiondVax’s CEO, commented, “I am pleased that, once again we are meeting our objectives, increased our financial resources, and are moving towards executing our late stage universal flu vaccine development program.”

Third Quarter 2017 Financial Summary

Results are in New Israel Shekels (NIS) and convenience translation to $US is provided using the exchange rate of 3.529 (NIS/$US) as at September 30, 2017.

  • Third quarter operating expenses were NIS 3.21m ($910,000) compared with NIS 3.47m for the third quarter of 2016;
  • Third quarter R&D expenses amounted to NIS 1.17m ($333,000) compared with NIS 2.42m for the third quarter of 2016;

As of September 30, 2017, BiondVax had cash and cash equivalents, short-term investments and marketable securities of NIS 78.09m ($22.13m) as compared to NIS 36.6m as of June 30, 2017.

 Recent Corporate Update

About BiondVax
BiondVax is a biopharmaceutical company developing a universal flu vaccine. The vaccine is designed to provide multi-season protection against most seasonal and pandemic human influenza virus strains. BiondVax’s proprietary technology utilizes a unique combination of conserved and common peptides from influenza virus proteins, activating both arms of the immune system for a cross-protecting and long-lasting effect. BiondVax is traded on NASDAQ: BVXV and TASE: BVXV. For more information, please visit www.biondvax.com.

Contact Details
Joshua 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. These forward-looking statements involve certain risks and uncertainties 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, the risk that drug development involves a lengthy and expensive process with uncertain outcome, the results of the contemplated  Phase 2 & 3 trials, delays or obstacles in launching and/or successfully completing our clinical trials, the impact of the global economic environment on the Company customer target base, the adequacy of available cash resource and the ability to raise capital when needed. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2016 filed with the U.S. Securities and Exchange Commission, or SEC, which is available on the SEC’s website, www.sec.gov, and in the Company’s periodic filings with the SEC and the Tel-Aviv Stock Exchange.

** Tables to Follow **

BALANCE SHEETS

In thousands, except per share data

Convenience
translation

December 31,

September 30,

September 30,

2016

2016

2017

2017

Audited

Unaudited

Unaudited

N I S

U.S. dollars

CURRENT ASSETS:

Cash and cash equivalents

15,705

15,091

76,892

21,789

Marketable securities

2,017

2,017

Short-term deposits

7,602

10,510

1,200

340

Other receivables

815

727

3,779

1,071

26,139

28,345

81,871

23,200

LONG‑TERM ASSETS:

Marketable securities

2,050

2,050

Property, plant and equipment

1,443

1,592

1,308

371

Other long term assets

478

370

515

146

3,971

4,012

1,823

517

30,110

32,357

83,694

23,717

CURRENT LIABILITIES:

Trade payables

686

477

792

225

Other payables

689

466

2,344

665

1,375

943

3,136

890

LONG‑TERM LIABILITIES:

Options

3,043

3,528

11,829

3,352

Severance pay liability, net

76

74

81

23

3,119

3,602

11,910

3,375

SHAREHOLDERS’ EQUITY (DEFICIT):

Ordinary shares of NIS 0.0000001 par value:

Authorized: 391,000,000 shares as of September 30, 2017,
2016 (unaudited) and December 31, 2016; Issued and
Outstanding: 261,419,599, 135,097,367 and135,097,367
shares as of September 30, 2017, 2016 and December 31,
2016, respectively

*) –

*) –

*) –

*) –

Share premium

113,041

111,697

179,182

50,774

Options

1,435

2,536

533

151

Other comprehensive income

6

8

Accumulated deficit

(88,866)

(86,429)

(111,067)

(31,473)

25,616

27,812

68,648

19,452

30,110

32,357

83,694

23,717

*) Represents an amount lower than NIS 1.

STATEMENTS OF COMPREHENSIVE INCOME

In thousands, except per share data

Convenience translation

Year ended

December 31,

Three months ended

September 30,

Nine months ended

September 30,

Nine months ended

September 30,

2016

2016

2017

2016

2017

2017

Audited

Unaudited

Unaudited

N I S

U.S. dollars

(In thousands, except per share data)

Operating expenses:

Research and development, net of participations

7,794

2,421

1,174

5,962

5,070

1,437

Marketing, general and administrative

4,106

1,049

2,036

2,819

3,699

1,048

Total operating expenses

11,900

3,470

3,210

8,781

8,769

2,485

Operating loss

11,900

3,470

3,210

8,781

8,769

2,485

Financial income

75

10

217

59

17

5

Financial expense

(303)

(291)

(45)

(491)

(1,829)

(518)

Financial income (expenses) due to revaluation of options

2,944

1,395

4,341

2,466

(11,620)

(3,293)

Total finance (expense) income, net

2,716

1,114

4,513

2,034

(13,432)

(3,806)

Net income (loss)

(9,184)

(2,356)

1,303

(6,747)

(22,201)

(6,291)

Other comprehensive income (loss):

Items to be reclassified to profit or loss in subsequent periods:

Gain (loss) from available-for-sale financial assets

(6)

1

(2)

(4)

(6)

(2)

Total comprehensive income ( loss )

(9,190)

(2,355)

1,301

(6,751)

(22,207)

(6,293)

Earnings (loss) per share

Basic

(0.07)

(0.02)

0.01

(0.05)

(0.12)

(0.03)

Diluted

(0.07)

(0.02)

(0.01)

(0.05)

(0.12)

(0.03)

Weighted average number of shares used in computing earnings (loss) per share

Basic

135,097,367

135,097,367

191,521,484

135,097,367

180,680,089

180,680,089

Diluted

135,097,367

135,097,367

210,302,584

135,097,367

180,680,089

180,680,089