VBIV VBI Vaccines Inc.

VBI Vaccines, Inc. is a biopharmaceutical company, which engages in the development of vaccines for infectious disease and immuno-oncology. The firm focuses on the prevention and treatment of hepatitis B through its product pipeline, the Sci-B-Vac and VBI-2601. It also develops enveloped virus-like particle (eVLP) platform technology, which allows the development of eVLP vaccines that closely mimic the target virus to elicit a potent immune response. The company was founded on July 9, 2015 is headquartered in Cambridge, MA.

Company profile

Ticker

VBIV

Exchange

NASDAQ

Website

www.vbivaccines.com

CEO

Jeffrey R. Baxter

Incorporated

British Columbia, Canada

Location

Massachusetts

Fiscal year end

Dec 31

Sector

Health Technology > Biotechnology

Industry (SIC)

Pharmaceutical Preparations

Pfizer • Merck & Co. • Allergan • Johnson & Johnson • Abbott Laboratories • Teva Pharmaceutical Industries Limited • Bristol-Myers Squibb • Eli Lilly and • Warner Chilcott • AbbVie ...

Former names

LEVON RESOURCES LTD, LEVON RESOURCES LTD., SciVac Therapeutics Inc.

SEC CIK

0000764195

Corporate docs

Articles of Incorporation & Bylaws

VBIV stock data

S&P 500

1M 1Y 2Y 5Y

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

31 Jul 20

10 Aug 20

31 Dec 20

News

Company financial data Financial data

Chart VBIV financial data

Quarter (USD)	Jun 20	Mar 20	Dec 19	Sep 19
Revenue	184K	415K	574K	647K
Net income	-9.51M	-8.36M	-10.88M	-16.16M
Diluted EPS	-0.04	-0.05	-0.02	-0.15
Net profit margin	-5170%	-2014%	-1895%	-2498%
Operating income	-8.14M	-9.41M	-10.17M	-16.14M
Net change in cash	25.23M	-8.41M	-8.8M	22.94M
Cash on hand	61.03M	35.8M	44.21M	53.02M
Cost of revenue	2.06M	2.58M	2.59M	1.98M

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	2.22M	3.36M	865K	548K
Net income	-54.81M	-63.6M	-39M	-23.21M
Diluted EPS	-0.46	-0.97	-0.88	-0.77
Net profit margin	-2468%	-1896%	-4508%	-4234%
Operating income	-52.4M	-60.41M	-37.28M	-24.85M
Net change in cash	-15.06M	-8.42M	35.41M	19.81M
Cash on hand	44.21M	59.27M	67.69M	32.28M
Cost of revenue	7.9M	4.51M	5.19M	3.67M

Financial data from company earnings reports

Recent insider trades

VBIV insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
1 Jul 20	Beattie Nell	Option (Right to Buy Common Shares) Common Shares	Grant	Aquire A	No	2.94	170,100	500.09K	170,100
1 Jul 20	McNulty Christopher	Option (Right to Buy Common Shares) Common Shares	Grant	Aquire A	No	2.94	170,100	500.09K	170,100
1 Jul 20	Diaz-Mitoma Francisco	Option (Right to Buy Common Shares) Common Shares	Grant	Aquire A	No	2.99	167,150	499.78K	167,150
1 Jul 20	Baxter Jeff	Option (Right to Buy Common Shares) Common Shares	Grant	Aquire A	No	2.94	425,200	1.25M	425,200
1 Jul 20	Anderson David Evander	Option (Right to Buy Common Shares) Common Shares	Grant	Aquire A	No	2.94	170,100	500.09K	170,100

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

VBIV institutional ownership history Ownership history

33.8% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	71	75	-5.3%
Opened positions	13	22	-40.9%
Closed positions	17	17	–
Increased positions	25	31	-19.4%
Reduced positions	18	8	+125.0%

13F shares	Current	Prev Q	Change
Total value	119.38M	144.54M	-17.4%
Total shares	78.1M	75.41M	+3.6%
Total puts	10.2K	0	NEW
Total calls	111.1K	6.7K	+1558.2%
Total put/call ratio	0.1	–	–

Largest owners	Shares	Value	Change
Perceptive Advisors	45.95M	$43.65M	0.0%
BLK BlackRock	11.68M	$11.1M	+13.0%
Vanguard	3.19M	$3.03M	+7.4%
Geode Capital Management	2.38M	$2.26M	-2.9%
STT State Street	2.36M	$2.24M	+15.1%
First Midwest Bank Trust Division	2.03M	$1.93M	+42.3%
NTRS Northern Trust	1.87M	$1.77M	+10.3%
Cambridge Investment Research Advisors	1.71M	$1.62M	-0.4%
GAM General American Investors	1.31M	$1.24M	0.0%
Nuveen Asset Management	639.16K	$607K	+53.6%

Largest transactions	Shares	Bought/sold	Change
BLK BlackRock	11.68M	+1.34M	+13.0%
Altshuler Shaham	0	-917.66K	EXIT
First Midwest Bank Trust Division	2.03M	+604.05K	+42.3%
PAM Premier Asset Management	411.06K	+411.06K	NEW
Renaissance Technologies	342.8K	+342.8K	NEW
BK Bank of New York Mellon	475.05K	+312.96K	+193.1%
STT State Street	2.36M	+310K	+15.1%
Susquehanna International	397.33K	+259.2K	+187.6%
Nuveen Asset Management	639.16K	+223.12K	+53.6%
Vanguard	3.19M	+219.07K	+7.4%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Dynavax Technologies • Hookipa Pharma

Management Discussion

All dollar amounts stated below are in thousands, unless otherwise indicated.
Revenue for the year ended December 31, 2019 was $2,221 as compared to $3,355 for the year ended December 31, 2018. The revenue decreased by $1,134 or 34%, as a result of the license revenue earned as part of the License Agreement with Brii Bio in the year ended December 31, 2018 with no similar transaction in the year ended December 31, 2019, offset by increased R&D services revenue as part of the License Agreement with Brii Bio for the year ended December 31, 2019. The decrease in revenue was also due to decreased product sales in Europe in the year ended December 31, 2019 due to reduced named-patient sales.
Cost of revenues for the year ended December 31, 2019 was $7,904 as compared to $4,509 for the year ended December 31, 2018. The increase in the cost of revenues of $3,395, or 75%, was due to cost of revenue related to the License Agreement with Brii Bio during the year ended December 31, 2019 of $1,141, which did not occur during the year ended December 31, 2018; the net increase related to the reclassification of certain costs of revenues to G&A expenses during the year ended December 31, 2018, which were not as significant in the year ended December 31, 2019 of $372; and the re-commencement of manufacturing subsequent to the temporary closure of our manufacturing facility in Rehovot, Israel which occurred in the second quarter of 2019.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: abroad, accessed, Accrued, agent, alteration, American, Ankura, anniversary, baseline, Baxter, BCF, beneficial, biomarker, breach, California, CCPA, chain, Christopher, collateral, comply, compromise, confidential, confidentiality, confirmed, consumer, copy, corruption, coverage, created, criminal, criteria, CurrentDevelopment, cyber, cybersecurity, destruction, difficulty, dispense, duly, earlier, encounter, equivalent, ExhibitNo, extinguishment, feature, formatted, frequency, furnish, furnished, gave, Guaranty, healthcare, hearing, herewith, HIPAA, HITECH, imposition, inadvertent, increasingly, INFORMATIONCONTAINED, Inline, Instance, intensity, Interactive, intrinsic, isolated, Jeffrey, knowingly, landscape, Laon, Linkbase, LLC, McNulty, monetary, monovalent, mouse, multiplied, necessitated, notification, owner, page, parallel, percent, personal, posture, prepayment, prescribe, prime, privacy, procedural, progression, ratio, readily, receipt, recruitment, redacted, redeemable, redeemed, refinanced, registrant, registrational, remediation, repay, request, satisfactory, Schema, sector, sensitive, signatory, signature, sophisticated, sophistication, store, succeed, suggest, sustain, Taxonomy, theft, thereunto, today, topline, tranche, transmit, Trust, trustee, Twine, unauthorized, undersigned, unredacted, vulnerable, XBRL

Removed: appointed, cap, designate, designee, filling, guaranteed, individual, initially, issue, LIBOR, manager, minimum, Ontario, protein, purification, reclassification, requirement, resigned, shareholder, significantly, unamortized, upstream

From filing 10-Q 2020 Q2