secwatch.observer — SEC 8-K summary
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Issuer:     VBI Vaccines Inc/BC (—)
CIK:        0000764195
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001493152-24-014743
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VBI Vaccines FY 2023 revenue $8.7M, net loss $92.8M; PreHevbrio sales up 234%
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- PreHevbrio net revenue $3.1M in 2023, up 234% YoY; Q1 2024 US volume ~65% of FY2023.
- VBI-1901 Phase 2b in GBM: 40% disease control (2/5 stable) vs 0% control; more data mid/year-end 2024.
- Agreement to sell Rehovot manufacturing to Brii Bio for up to $33M, reducing K2HV debt from $50M to $17M.
- Cash $23.7M at Dec 31, 2023 (down from $62.6M); net loss $92.8M ($6.03/share) vs $113.3M in 2022.
- R&D expense $9.3M (down 40%), SG&A $42.1M (down 25%) after April 2023 workforce reduction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764195/000149315224014743/0001493152-24-014743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764195/000149315224014743/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-014743

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