BiondVax Pharma (BVXV) Announces $100M At-The-Market Equity Offering Program

BiondVax Pharmaceuticals Ltd. (NASDAQ: BVXV), developer of the Phase 3 clinical trial M–001 universal influenza vaccine candidate ("BiondVax" or the "Company"), today announced it has entered into an agreement with BofA Securities as lead sales agent, and Citigroup and Credit Suisse as participating sales agents (collectively, the "Agents"), related to a $100 million At-The-Market (the "ATM Program") equity offering program pursuant to a prospectus supplement filed today with the Securities and Exchange Commission (the "SEC").

BiondVax is not obligated to sell any American Depositary Shares ("ADSs") under the ATM Program. The timing of any sales will depend on a variety of factors to be determined by BiondVax. The Company currently intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, which may include working capital, research and development activities, regulatory matters, capital investment or other related purposes, and pre-commercialization and commercialization activities. We may also use a portion of any net proceeds to in-license, invest in or acquire businesses, assets or technologies that we believe are complementary to our own, although we have no current plans, commitments or agreements with respect to any in-license, investment or acquisition.

The BiondVax ADSs will be offered and sold through the Agents. Sales of ADSs may be made by any method permitted by law deemed to be an "at-the-market offering" as defined in Rule 415 of the Securities Act of 1933, as amended. Sales may be made at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices and, as a result, sales prices may vary.

Under the terms of the Agreement, BiondVax may also sell ADSs directly to any of the Agents, as principal for its own account, at a price agreed upon at the time of sale. If the Company agrees to sell shares to any Agent as principal, it will enter into a separate terms agreement with such Agent.

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