Benzinga | Oct 23, 2020 10:41AM EDT

BiondVax Reports Topline Results From Phase 3 Trial Of M-001 Universal Flu Vaccine Candidate

BiondVax Pharmaceuticals Ltd. (NASDAQ:BVXV), a pioneer in the development of a universal flu vaccine designed to provide protection against current, future, seasonal and pandemic influenza, today announced topline data from the Company's pivotal, phase 3 clinical trial of M-001 as a standalone universal flu vaccine candidate.

Results did not demonstrate a statistically significant difference between the vaccinated and placebo groups in reduction of flu illness and severity, and therefore failed to meet both the primary and secondary efficacy endpoints. The study's primary safety endpoint was met.

"We are disappointed with these results, and I wish to thank the BiondVax team for their efforts, dedication, and passion over the past 15 years. Together we have endeavored to develop an innovative approach to a persistent global problem. I am especially grateful to each of the clinical trial participants, as well as the investigators in all our trials for their efforts, and to our stakeholders for their support," said Dr. Ron Babecoff, Founder, President, and Chief Executive Officer. "The significant need for better, more proactive flu protection is well-understood by clinicians and public health experts around the world, and we have devoted many years in pursuit of this worthy goal. Unfortunately, this study did not have the efficacy outcomes that we anticipated for M-001 on a standalone basis. We have observed in seven previous studies that M-001 safely provoked an immune response to a broad range of flu strains, but ultimately this was not sufficient on a standalone basis to show protection."

Dr. Babecoff continued, "We have developed expertise and IP in pursuit of our goals, and we retain a state-of-the-art manufacturing facility. Going forward, we will examine options to maximize the value of these assets."