- The VBI Vaccines Inc (NASDAQ: VBIV) stock price increased by 1.53% today. This is why.
The VBI Vaccines Inc (NASDAQ: VBIV) stock price increased by 1.53% today. This is why.
Financial Results For The 3 and 12 Months Ended December 2021
— VBI ended the fourth quarter of 2021 with $121.7 million in cash compared with $119.1 million in cash, cash equivalents, and short-term investments as of December 31, 2020.
— Net cash used in operating activities for the full year 2021 was $39.9 million, compared to $47.1 million for the same period in 2020.
— The purchase of property and equipment in 2021 was $2.0 million compared to $1.0 million in 2020.
— Revenue for the full year 2021 was $0.6 million compared to $1.1 million for the same time period in 2020. The decrease in revenue was due to a decrease in the R&D services revenue earned as part of the License Agreement with Brii Bio in 2021 compared to 2020.
— R&D expenses for the full year 2021 were $19.6 million compared to $14.9 million for the same period in 2020. The increase in R&D spend was mainly a result of the increase in costs related to the continued development of our eVLP vaccine candidates and increased regulatory costs related to our 3-antigen HBV vaccine.
— G&A expenses for full year 2021 were $38.4 million compared to $20.7 million for the same period in 2020. The increase in G&A expense in 2021 was a result of the increase in pre-commercialization activities related to our 3-antigen HBV vaccine, increased insurance costs, and increased professional and labor costs.
— Net loss and net loss per share for the year ended December 31, 2021 were $69.8 million and $0.27, respectively, compared to a net loss of $46.2 million and a net loss per share of $0.21 for the year ended December 31, 2020.
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