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VBI Vaccines launches common stock offering

VBI Vaccines Inc. started an underwritten public offering of its common shares.

The company plans to grant the underwriters a 30-day option to buy up to an additional 15% of the number of common shares offered in the public offering.

Net proceeds will be used to advance the company's research and development programs, including funding the pivotal phase 3 clinical program for Sci-B-Vac in the U.S., Europe and Canada; funding the phase 1/2a clinical study of VBI-1901 for glioblastoma; funding VBI-1501, VBI's cytomegalovirus vaccine candidate; and funding VBI-2601, the company's immuno-therapeutic candidate for hepatitis B.

Net proceeds will also be used for general corporate purposes, including working capital and capital expenditures.

BMO Capital Markets, Canaccord Genuity LLC and Oppenheimer & Co. Inc. are acting as joint book-runners for the offering.

VBI Vaccines is a commercial-stage biopharmaceutical company developing next-generation infectious disease and immuno-oncology vaccines.