- VBI Vaccines Inc (NASDAQ:VBIV) plans to focus concentrating on broadening access to VBI’s FDA-approved 3-antigen HBV vaccine for adults, PreHevbrio [Hepatitis B Vaccine (Recombinant)], and advancing its HBV immunotherapeutic candidate, VBI-2601.
- The company will reduce its internal workforce by 30-35% – a reduction expected to begin in April and be complete by the end of June 2023.
- VBI also expects its operating expenses from normal business to be 30-35% lower in the second half of 2023 than in the second half of 2022.
- Additionally, Christopher McNulty, VBI’s current CFO, Head of Business Development, and director, will resign effective April 10, 2023.
- VBI Vaccines has appointed Nell Beattie, its current Chief Business Officer, as the new CFO and Head of Corporate Development.
- VBI’s Board of Directors approved a 1-for-30 reverse stock split of its issued and outstanding common shares to be effective as of 12:01 AM on Wednesday, April 12, 2023
- PreHevbrio generated net product sales of $0.9 million in 2022, following the U.S. launch at the end of Q1 2022.
- Initial Phase 2 data, announced in February 2023, suggest VBI-2601 in combination with BRII-835 induced stronger anti-hepatitis B surface antigen (HBsAg)-specific T-cell and antibody responses compared to the siRNA alone.
- Additional data from this combination study expected to be announced later in 2023.
- Price Action: VBIV shares are down 45.98% at $0.16 on the last check Tuesday.
Mesoblast Limited Announces Appendix 4C Cash Flow Quarterly Activity Report
Financial Highlights
Successful completion of a global private placement primarily to Mesoblast's existing major US, UK, and Australian shareholders raising approximately US$40 million, net of transaction
