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BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV) Receives Buy Rating and $70 Target Price; Releases Q1 2023 and Business Update

  • Analysts at Aegis Capital Corp. continue to recommend shares of the company with a Buy rating and a $70 target price
  • Data from pre-clinical trial indicate that BiondVax’s NanoAb may effectively serve as both a therapeutic and protective prophylactic drug, further enhancing its value proposition
  • BVXV reiterated further NanoAb development beginning with NanoAbs targeting immune system cytokines such as IL-17 as drug candidates for the potential treatment of psoriasis and psoriatic arthritis
  • BiondVax aims to optimize the use of assets and generate additional revenues by offering its drug development services and cGMP manufacturing capabilities to others

BiondVax Pharmaceuticals (NASDAQ: BVXV), an innovative biotechnology company developing unique NanoAb immunotherapeutic products for the treatment of infectious disease and large market autoimmune disorders, recently published the financial results for the three months ended March 31, 2023 – Q1 2023 – and provided a business update (https://nnw.fm/qkIoO).

The Q1 2023 results were in line with analysts’ expectations. R&D expenses increased about $800k 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 (https://nnw.fm/s2jOf) and virtually prevented illness when inhaled prophylactically (https://nnw.fm/gCsoz). 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 (https://nnw.fm/M0yRt).

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. The analysts noted that the “Results were generally in-line with our expectations.” The analysts specifically highlighted R&D expenses of $5.8 million, which were in line with expectations, BVXV has announced intent for further NanoAb development starting with NanoAbs targeting large market immune system disorders such as psoriasis and psoriatic arthritis.

The company’s R&D efforts are the product of several exclusive and definitive agreements BiondVax entered with the Max Planck Society (“MPG”) and the University Medical Center Göttingen (“UMG”), both in Germany. In 2021, for instance, BiondVax signed its first set of agreements, announcing entry into a strategic collaboration and exclusive worldwide license for the development and commercialization of innovative COVID-19 NanoAbs (https://nnw.fm/6H0zL).

These agreements were part of a broader partnership that was crystallized in a definitive collaboration agreement announced last year for the development of NanoAbs addressing diseases with significant unmet medical needs and attractive commercial opportunities, such as asthma, psoriasis, psoriatic arthritis, and macular degeneration. The collaboration agreement also gave BiondVax an exclusive option for an exclusive worldwide license for further development and commercialization of resultant therapies (https://nnw.fm/gN528).

“BiondVax’s recent achievements leave me very optimistic about BiondVax’s growth potential and ability to deliver value to our stakeholders,” said BiondVax CEO Amir Reichman in the press release announcing FY 2022 results. “Looking forward, I’m excited to exercise our option to obtain an exclusive license at pre-agreed financial terms to anti-IL-17 NanoAbs targeting safe, effective, and convenient treatment of psoriatic lesions; scale up in-house NanoAb manufacturing; and conduct an in vitro proof-of-concept study and potentially also a preclinical trial of the IL-17 NanoAb as a therapy for psoriasis.”

And as BiondVax continues to prioritize its NanoAb pipeline development in line with its core focus, it has also sought to optimize the use of its assets and generate revenues. For example, the company stated in its business update that it is offering its cGMP manufacturing capabilities to interested parties, including an aseptic fill and finish suite, state-of-the-art technical R&D and quality control laboratories, and experienced professionals for CDMO (Contract Development and Manufacturing Organization) services. According to the company’s website (https://nnw.fm/8I3E5), its assets for potential clients’ CDMO needs include the following:

  • cGMP-ready production clean rooms
  • Aseptic fill and finish for clinical trials and pilot-scale manufacturing
  • Ambr(R) 250, 2L, and 5L fermenters for upstream process development and optimization
  • 30L and 300L fermentors for upstream GMP production
  • Downstream GMP production: Akta Process, BPG columns, single-use mixers
  • Analytic tools
  • Water for injection (“WFI”)
  • Media and buffer preparations, with equipment such as 50L to 1500L single-use mixers, 200L and 500L storage containers, a power transfer system, and a suction arms system

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. With a $70 price target and currently trading under $2 per share, those that understand risk reward ratios should keep BVXV on their radar.

For more information, visit the company’s website at www.BiondVax.com.

NOTE TO INVESTORS: The latest news and updates relating to BVXV are available in the company’s newsroom at https://nnw.fm/BVXV

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