BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV; (TASE:BVXV) and Therapix Biosciences Ltd. (Nasdaq: THXBY; TASE: THXBY) have submitted shelf prospectuses for their shares, which are listed over-the-counter in the US. BiondVax, which is developing a universal vaccine for many types of influenza, has a market cap of $13 million. Its share did not respond today to the announcement.
Therapix, which is developing cannabis-based drugs and devices used for the consumption of these drugs, has a market cap of $28.8 million. Its share responded to the announcement with a 1.3% rise.
BiondVax submitted a shelf prospectus for a financing round of up to $150 million, but obviously does not intend to raise this much. The prospectus is designed to facilitate the launching of an at-the-market (ATM) instrument for its share - an instrument that enables the company to issue shares to an entity named FBR Capital, which then sells the shares on the stock exchange and transfers the proceeds to the company, minus a 3% commission. This instrument can enable a company to raise capital in small amounts. BiondVax has become expert at this type of offering in recent years.
BiondVax about to begin its final trial
BiondVax recently completed treatment of the last patient in its Phase IIb trial of its influenza vaccine in combination with a seasonal vaccine in Europe. Publication of the trial results is slated for the coming months. At the same time, the company is about to begin a corresponding trial in the US. The purpose of these trials is to show that use of the universal vaccine makes it possible to more patients than using a vaccine for the most common influenza strain in that year. The company believes that if the results are good, it will be able to begin a Phase III trial in 2017-2018.
Therapix has announced the submission of its first public draft prospectus for a share offering in the US. If this offering is successful, the company may be able to have its shares listed on a more important US stock exchange. The company plans to raise $11.5 million. Therapix is currently developing two products: one for treatment of Tourette syndrome and the other for treatment of a slight cognitive disorder that could be an early stage of Alzheimer's Disease. These products have been tested on animals, but not on human beings.
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2016
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