BiondVax (NASDAQ: BVXV), a biotechnology company focused on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases, recently published Q1 2023 financial results and provided a business update. “The Q1 2023 results were in line with analysts’ expectations. R&D expenses increased about $800,000 from Q1 2022, which BiondVax attributed to the initiation and ramp-up of R&D activities for its innovative nanosized VHH antibody (‘NanoAb’) platform. In particular, the company finalized a preclinical proof-of-concept study of its inhaled anti-COVID NanoAb drug, reporting in January that the therapy virtually eliminated the SARS-CoV-2 virus in the lungs of infected hamsters and virtually prevented illness when inhaled prophylactically. These results built on previously announced data indicating the NanoAb treatment led to significantly milder illness and faster recovery among hamsters in the experimental group compared with the control group. Bullish about BiondVax, the analysts at Aegis Capital Corp. continue to recommend shares of the company with a Buy rating and a $70 target price,” a recent article reads. “BiondVax boasts unique big pharma competencies, positioning it to bring innovative therapies to market quicker and at lower cost compared to other companies of similar size.”
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About BiondVax Pharmaceuticals Ltd.
BiondVax is a biopharmaceutical company focused on developing, manufacturing and commercializing innovative immunotherapeutic products primarily for the treatment of infectious and autoimmune diseases. Since its inception, BiondVax has executed eight clinical trials including a seven-country, 12,400-participant phase 3 trial of its prior vaccine candidate and has built a state-of-the-art manufacturing facility for biopharmaceutical products. With highly experienced pharmaceutical industry leadership, BiondVax is aiming to develop a pipeline of diversified and commercially viable products and platforms beginning with an innovative nanosized antibody (“NanoAb”) pipeline. For more information, visit the company’s website at www.BiondVax.com.
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