Shares of BiondVax Pharmaceuticals (NASDAQ:BVXV) have been under pressure over the past month with a fall of 22%.
Market Reaction
On Tuesday, BVXV stock fell 4% to $1.72 with more than 129k shares, compared to its average volume of 81k shares. The stock has moved within a range of $1.6800 – 1.7873 after opening trade at $1.77.
BiondVax Releases Business Update and Q3 2021 Results
BiondVax Pharmaceuticals (NASDAQ:BVXV) that manufactures, develops, and commercializes cutting-edge products to prevent and treat infectious diseases and other illnesses, has published its Q3 2021 results (for the quarter ended September 30, 2021).
As of September 30, 2021, BiondVax had cash, and cash equivalents of NIS 34.6 million ($10.7 million) as compared to NIS 39.9 million as of June 30, 2021. R&D expenses are reduced to NIS 2.0 million ($0.6 million) from NIS 12.6 million for the same period in 2020. Marketing, general and administrative costs have gone down to NIS 6.2 million ($1.9 million), attributed to salary and salary related expenses and share-based payments expenses. Operating expenses were NIS 8.2 million ($2.5 million) as compared to NIS 20.0 million for the same three months last year.
In other news, the company has signed a term sheet with Max Planck Society and University Medical Center Göttingen, Germany, for strategic collaboration for creating an innovative VHH-antibody (VHH-Ab) pipeline. Preparation for manufacturing VHH-Abs at the Company’s GMP biologics manufacturing facility in Jerusalem is well underway. The research collaboration agreement provides access for BiondVax, to life life-cycle improvements of the COVID-19 VHH-Abs for emerging Variants of Concern(s) including Omicron. The Annual General Meeting of Shareholders is to be held on December 27, 2021.
Traders Review
BVXV stock is trading below the 20-Day and 200-Day Moving averages of $2.02 and $2.17 respectively. Moreover, the stock is trading below the 50-Day moving average of $2.90. The stock is down 31% over the past 3-month.
