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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Vascular Biogenics Ltd | NASDAQ:VBLT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.156 | 0.1598 | 0.1599 | 0 | 01:00:00 |
Conference Call and Webcast at 8:30am Eastern Time
"VBL has more than $50 million in cash, which will enable us to continue the development of VB-111 and our promising pipeline through 2020," said Dror Harats, M.D., Chief Executive Officer of VBL Therapeutics. "We intend to continue the ongoing OVAL trial, our Phase 3 potential registration trial in platinum-resistant ovarian cancer, in collaboration with the GOG Foundation. We intend to add an interim analysis for evidence of efficacy signal in our OVAL trial, sooner than in our original plan. We expect that the interim readout may be available during the first half of 2019."
"Beyond VB-111, we have a strong pipeline, including our exciting MOSPD2 program for oncology and inflammatory indications. We intend to present new data from this program in oncology as a late-breaking news at the forthcoming American Academy of Cancer Research (AACR) meeting in April 2018."
Fourth Quarter and Recent Corporate Highlights:
Year Ended December 31, 2017 Financial Results
Conference Call
Thursday, March 15th @ 8:30am Eastern Time | |
Domestic: | 877-222-6394 |
International: | 703-925-2702 |
Conference ID: | 7392936 |
Webcast: | https://edge.media-server.com/m6/p/y3srj89d |
Replays, Available through March 29th: | |
Domestic: | 855-859-2056 |
International: | 404-537-3406 |
Conference ID: | 7392936 |
About VBLVascular Biogenics Ltd., operating as VBL Therapeutics, is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for cancer. The Company’s lead oncology product candidate, ofranergene obadenovec (VB-111), is a first-in-class, targeted anti-cancer gene-therapy agent that is positioned to treat a wide range of solid tumors. It is conveniently administered as an IV infusion once every two months. It has been observed to be well-tolerated in >300 cancer patients and demonstrated efficacy signals in an “all comers” Phase 1 trial as well as in three tumor-specific Phase 2 studies. Ofranergene obadenovec is currently being studied in a Phase 3 trial for platinum-resistant ovarian cancer.
Forward Looking StatementsThis press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding projected cash resources and cash runway, the clinical development of ofranergene obadenovec (VB-111) and our other pipeline candidates, including our expectations for their therapeutic potential in the conditions in which they are being or may in the future be evaluated. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals, the risk that historical clinical trial results may not be predictive of future trial results, and that our product candidates that we are developing may not demonstrate success in clinical trials. A further list and description of these risks, uncertainties and other risks can be found in the Company’s regulatory filings with the U.S. Securities and Exchange Commission, including in our annual report on Form 20-F for the year ended December 31, 2017. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. VBL Therapeutics undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
INVESTOR CONTACT:Michael RiceLifeSci Advisors, LLC(646) 597-6979
MEDIA CONTACT:Matt Middleman, M.D.LifeSci Public Relationsmatt@lifescipublicrelations.com(646) 627-8384
VASCULAR BIOGENICS LTD. | ||||||||
STATEMENTS OF FINANCIAL POSITION | ||||||||
December 31 | ||||||||
2017 | 2016 | |||||||
U.S. dollars in thousands | ||||||||
Assets | ||||||||
CURRENT ASSETS: | ||||||||
Cash and cash equivalents | $ | 6,694 | $ | 11,585 | ||||
Short-term bank deposits | 48,035 | 33,669 | ||||||
Trade receivables | 2,000 | — | ||||||
Other current assets | 1,729 | 1,320 | ||||||
TOTAL CURRENT ASSETS | 58,458 | 46,574 | ||||||
NON-CURRENT ASSETS: | ||||||||
Property and equipment, net | 7,128 | 687 | ||||||
Long-term prepaid expenses | 103 | 13 | ||||||
TOTAL NON-CURRENT ASSETS | 7,231 | 700 | ||||||
TOTAL ASSETS | $ | 65,689 | $ | 47,274 | ||||
Liabilities and equity | ||||||||
CURRENT LIABILITIES— | ||||||||
Accounts payable: | ||||||||
Trade | $ | 3,058 | $ | 2,522 | ||||
Other | 3,465 | 2,266 | ||||||
Deferred revenue | 1,046 | — | ||||||
TOTAL CURRENT LIABILITIES | 7,569 | 4,788 | ||||||
NON-CURRENT LIABILITIES— | ||||||||
Severance pay obligations, net | 128 | 86 | ||||||
Deferred revenue | 2,092 | — | ||||||
TOTAL NON-CURRENT LIABILITIES | 2,220 | 86 | ||||||
TOTAL LIABILITIES | 9,789 | 4,874 | ||||||
COMMITMENTS | ||||||||
EQUITY: | ||||||||
Ordinary shares, NIS 0.01 par value; Authorized as of December 31, 2017 and 2016, 70,000,000 shares; issued and outstanding as of December 31, 2017 and 2016, 29,879,323 and 26,902,285 shares, respectively | 57 | 50 | ||||||
Accumulated other comprehensive income | 16 | 40 | ||||||
Additional paid in capital | 221,055 | 197,400 | ||||||
Warrants | 2,960 | 2,960 | ||||||
Accumulated deficit | (168,188 | ) | (158,050 | ) | ||||
TOTAL EQUITY | 55,900 | 42,400 | ||||||
TOTAL LIABILITIES AND EQUITY | $ | 65,689 | $ | 47,274 | ||||
VASCULAR BIOGENICS LTD. | ||||||||||||
STATEMENTS OF COMPREHENSIVE LOSS | ||||||||||||
Year ended December 31 | ||||||||||||
2017 | 2016 | 2015 | ||||||||||
U.S. dollars in thousands | ||||||||||||
REVENUES | 13,864 | — | — | |||||||||
COST OF REVENUES | (340 | ) | — | — | ||||||||
GROSS PROFIT | 13,524 | — | — | |||||||||
RESEARCH AND DEVELOPMENT EXPENSES, net | $ | 17,770 | $ | 12,447 | $ | 11,198 | ||||||
MARKETING EXPENSES | 562 | — | — | |||||||||
GENERAL AND ADMINISTRATIVE EXPENSES | 5,847 | 3,828 | 3,673 | |||||||||
OPERATING LOSS | 10,655 | 16,275 | 14,871 | |||||||||
FINANCIAL INCOME | (544 | ) | (285 | ) | (100 | ) | ||||||
FINANCIAL EXPENSES | 27 | 12 | 117 | |||||||||
FINANCIAL EXPENSES (INCOME), net | (517 | ) | (273 | ) | 17 | |||||||
LOSS FOR THE YEAR | 10,138 | 16,002 | 14,888 | |||||||||
OTHER COMPREHENSIVE LOSS (INCOME)— | ||||||||||||
Items that will not be reclassified to profit or loss— | ||||||||||||
Re-measurements of post-employment benefit obligation | 24 | 5 | (6 | ) | ||||||||
COMPREHENSIVE LOSS | $ | 10,162 | $ | 16,007 | $ | 14,882 | ||||||
U.S. dollars | ||||||||||||
LOSS PER ORDINARY SHARE | ||||||||||||
Basic and diluted | $ | 0.37 | $ | 0.64 | $ | 0.73 | ||||||
Number of shares | ||||||||||||
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING— | ||||||||||||
Basic and diluted | 27,398,169 | 24,970,585 | 20,309,596 |
1 Year Vascular Biogenics Chart |
1 Month Vascular Biogenics Chart |
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