Barinthus Bio FY2023 net loss $73.3M, revenue drops to $0.8M, cash down to $142.1M

Barinthus Biotherapeutics plc.

Net loss of $73.3M ($1.91 per share) vs net income of $5.3M in 2022; revenue fell to $0.8M from $44.7M on lower Vaxzevria royalties.
Cash and equivalents $142.1M at Dec 31, 2023, down from $194.4M; operating cash burn $50.9M.
R&D expenses rose to $44.9M (+$2.5M); G&A surged to $39.8M (+$33.4M) primarily due to a $7.6M foreign exchange loss.
Pipeline: positive HBV VTP-300 Phase 2 data; HPV VTP-200 APOLLO trial final results expected Q2 2024; celiac VTP-1000 Phase 1 initiation planned Q2 2024.
Secured up to $35M from CEPI for MERS candidate VTP-500; renamed from Vaccitech to Barinthus in Nov 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Barinthus Biotherapeutics plc. reported the year ended December 31, 2023 results: revenue $0.8 million, net income net loss of $73.4 million.

Period: the year ended December 31, 2023
Revenue: $0.8 million
Net income: net loss of $73.4 million
Result: reported results

Exact text from the filing

• Cash position: As of December 31, 2023, cash was $142.1 million, compared to $194.4 million as of December 31, 2022. The cash used in operating activities was $50.9 million, primarily resulting from our net loss of $73.4 million, adjusted by foreign exchange loss on translation of $7.5 million, share-based compensation of $5.1 million, depreciation and amortization of $5.4 million, deferred tax movements of $3.1 million and changes in our operating assets and liabilities, net of $6.2 million primarily related to a $5.8 million decrease in accounts receivable, a $2.2 million decrease in prepaid expenses and other current assets, $3.4 million decrease in accounts payable and $2.0 million increase in accrued expenses. • Revenue: Revenue was $0.8 million in 2023 compared to $44.7 million in 2022 and was comprised of the Company’s share of royalties received by Oxford University Innovation as a result of commercial sales of Vaxzevria® by AstraZeneca, sales of which reduced significantly i

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Source: SEC EDGAR

accession 0001828185-24-000007

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