What is VBI Vaccines Net Worth: Strategic Partnerships Driving Growth in 2024

VBI Vaccines net worth in 2024 highlights significant growth, driven by strategic partnerships and product expansion.

As a biopharmaceutical company, VBI’s collaborations with key players like Valneva SE and Brii Biosciences have contributed to its financial success.

Learn more about VBI’s financial performance and key drivers, brought to you by Ando Money.

Quick Facts

What is the Net Worth/Market Cap of VBI Vaccines in 2024?

As of October 2024, VBI Vaccines has a market capitalization of $1.87 million. Despite its modest size, the company has secured important partnerships and strategic deals that strengthen its market presence.

Comparatively, larger pharmaceutical firms are far ahead, but VBI’s ongoing partnerships offer potential for growth.

Here are some notable companies related to VBI Vaccines:

• Valneva SE
• Brii Biosciences
• National Research Council of Canada
• K2 HealthVentures
• PreHevbrio (Product)
• Canadian Government

If you’re curious about how other companies compare in value, check out the top companies by financial worth for more information.

VBI Vaccines Financial Performance Overview

Key Financial Performance Metrics in Early 2024

In Q1 2024, VBI Vaccines reported $1.2 million in revenue, a significant increase from $0.5 million in Q1 2023. The company managed to reduce its net loss to $17.9 million, down from $27.8 million in Q1 2023.

These figures reflect improved operational efficiency, particularly following the restructuring efforts in April 2023.

The restructuring also contributed to lower costs, with Sales, General, and Administrative (SG&A) expenses decreasing from $13.3 million to $7.7 million.

The main driver of revenue growth has been PreHevbrio, VBI’s hepatitis B vaccine.

PreHevbrio’s strong sales in the U.S., boosted by public sector contracts, have been instrumental in achieving this revenue increase.

Expansion of Strategic Partnerships

VBI’s partnerships have played a pivotal role in boosting the company’s financial performance.

In February 2024, VBI struck a series of agreements with Brii Biosciences, worth up to $33 million, aimed at enhancing VBI’s manufacturing capabilities and transferring certain intellectual property.

Additionally, VBI’s collaboration with the Canadian Government led to $28 million CAD in funding to advance its mRNA-Launched eVLP (MLE) platform.

This platform remains under evaluation by potential partners throughout 2024, offering further opportunities for financial growth.

Revenue Drivers for PreHevbrio and International Launch Success

PreHevbrio has been a standout success for VBI Vaccines, with a 105% increase in revenue compared to Q1 2023.

The product’s availability for purchase under the CDC Adult Vaccine Contract in the U.S. has opened up new revenue streams.

PreHevbrio’s international expansion has also been promising, with launches in countries like the UK, Sweden, and Belgium through VBI’s partnership with Valneva SE.

By early 2024, the vaccine was also available in Denmark and Norway, further solidifying VBI’s presence in Europe.

Cost Management and Organizational Restructuring Impact

VBI’s cost management strategies in 2024 have focused heavily on reducing operational expenses.

The April 2023 restructuring played a key role in this, leading to a significant decrease in SG&A expenses and a 46% reduction in net cash outflows.

Research and development (R&D) expenses also fell from $3.2 million to $2.6 million in Q1 2024, as VBI streamlined its focus on priority pipeline projects.

Product Pipeline and Potential Future Revenue Streams

VBI’s diverse pipeline of vaccines offers the potential for future revenue growth.

The company’s VBI-1901, aimed at treating glioblastoma (GBM), has shown encouraging early results in a Phase 2b trial.

As more data becomes available in mid and late 2024, this product could become a significant driver of revenue.

Meanwhile, VBI-2901, a multivalent pan-coronavirus vaccine, continues to show promise in its clinical trials.

The ongoing evaluation of VBI’s mRNA-Launched eVLP (MLE) platform by potential partners may also open the door to new revenue opportunities.

Long-term Financial Projections and Revenue Outlook

Looking ahead, VBI’s financial strategy is focused on maintaining operational efficiency and securing further partnerships to fund its product development.

With cash outflows reduced by 46% in early 2024, the company is well-positioned to pursue its long-term goals.

Anticipated milestones for its product pipeline, especially VBI-1901, will play a crucial role in determining its future financial health.

FAQs about VBI Vaccines

What are VBI Vaccines’ main products?

Its leading product is PreHevbrio, a hepatitis B vaccine available in the U.S., Europe, and other regions. It also has a promising cancer vaccine, VBI-1901, currently in clinical trials.

How has VBI’s partnership with Valneva affected its growth?

Its partnership with Valneva SE has helped expand its reach in Europe, significantly contributing to PreHevbrio’s international sales in markets like the UK and Sweden.

What are VBI’s primary financial challenges in 2024?

Despite growth in revenue, VBI Vaccines faces financial challenges due to its net loss of $17.9 million in Q1 2024. However, ongoing cost management efforts are helping improve cash flow.

What role does VBI-1901 play in VBI’s future?

VBI-1901 is a cancer vaccine aimed at treating glioblastoma. Positive early trial results and further data expected in 2024 make it a key part of VBI’s future strategy.

How has the restructuring in April 2023 impacted VBI?

The restructuring led to a 46% reduction in cash outflows, which has helped VBI Vaccines improve operational efficiency and focus resources on its most promising projects.

Conclusion

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