Barinthus Biotherapeutics plc 8-K, filed May 12, 2023

Barinthus Biotherapeutics plc. (BRNS)

8-K 2023-05-12 For: 2023-05-12

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Added on April 10, 2026

About this 8-K

Barinthus Biotherapeutics plc filed this 8-K on May 12, 2023.

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Title of each class	Trade Symbol(s)	Name of each exchange on which registered
American Depositary Shares	VACC	The Nasdaq Global Market
Ordinary shares, nominal value £0.000025 per share*

99.1	Press Release dated May 12, 2023.
99.2	Investor Presentation dated May 2023.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

	Vaccitech plc

Date: May 12, 2023	By:	/s/ William Enright
		William Enright
		Chief Executive Officer

	Three months ended March 31, 2023		Three months ended March 31, 2022		Change
	$000		$000		$000
Direct research and development expenses by program:
VTP-200 HPV		1,338		1,156		182
VTP-300 HBV		2,118		4,185		(2,067	)
VTP-600 NSCLC¹		275		162		113
VTP-850 Prostate cancer		215		1,339		(1,124	)
VTP-1000/VTP-1100 (SNAPvax candidates)		1,572		-		1,572
Other and earlier stage programs		280		739		(459	)
Total direct research and development expenses		5,798		7,581		(1,783	)
Internal research and development expenses:
Personnel-related (including share-based compensation)		3,601		2,726		875
Facility-related		371		340		31
Other internal costs		44		54		(10	)
Total internal research and development expenses		4,016		3,120		896
Total research and development expense		9,814		10,701		(887	)

	March 31, 2023			December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	191,328		$	194,385
Accounts receivable		172			323
Accounts receivable - related parties		768			5,524
Research and development incentives receivable		2,501			4,541
Prepaid expenses and other current assets		5,896			8,268
Total current assets		200,665			213,041
Goodwill		12,209			12,209
Property and equipment, net		12,712			7,957
Intangible assets, net		27,479			28,269
Right of use assets, net		7,723			7,753
Other assets		1,028			976
Total assets	$	261,816		$	270,205

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
Accounts payable	$	4,327		$	3,748
Accrued expenses and other current liabilities		7,012			8,061
Operating lease liability - current		649			433
Total current liabilities		11,988			12,242
Non-Current liabilities:
Operating lease liability		10,005			8,340
Contingent consideration		1,710			1,711
Deferred tax liability, net		3,230			3,746
Other non-current liabilities		1,314			965
Total liabilities	$	28,247		$	27,004
Commitments and contingencies (Note 14)
Shareholders’ equity:
Ordinary shares, £0.000025 nominal value; 38,357,025 shares authorized, issued and outstanding (December 31, 2022: authorized, issued and outstanding: 37,683,531)		1			1
Deferred A shares, £1 nominal value; 63,443 shares authorized, issued and outstanding (December 31, 2022: authorized, issued and outstanding: 63,443)		86			86
Deferred B shares, £0.01 nominal value; nil shares authorized, issued and outstanding (December 31, 2022: authorized, issued and outstanding: 570,987)		—			8
Deferred C shares, £0.000007 nominal value, nil shares authorized, issued and outstanding (December 31, 2022: authorized, issued and outstanding: 27,828,231)		—			01
Additional paid-in capital		383,523			379,504
Accumulated deficit		(121,423	)		(103,243	)
Accumulated other comprehensive loss – foreign currency translation adjustments		(28,886	)		(33,460	)
Total shareholders’ equity attributable to Vaccitech plc shareholders’		233,301			242,896
Noncontrolling interest		268			305
Total shareholders’ equity	$	233,569		$	243,201
Total liabilities and shareholders’ equity	$	261,816		$	270,205

	Three months ended
	March 31, 2023			March 31, 2022
License revenue ¹	$	468		$	15,009
Research grants and contracts		—			9
Total revenue		468			15,018
Operating expenses
Research and development		9,814			10,701
General and administrative		12,138			3,663
Total operating expenses		21,952			14,364
(Loss)/income from operations		(21,484	)		654
Other income/(expense):
Interest income		1,588			83
Interest expense		—			(74	)
Research and development incentives		1,157			1,048
Total other income/(expense)		2,745			1,057
(Loss)/profit before income tax		(18,739	)		1,711
Tax benefit		516			863
Net (loss)/income		(18,223	)		2,574
Net loss attributable to noncontrolling interest		43			22
Net (loss)/income attributable to Vaccitech plc shareholders		(18,180	)		2,596

Weighted-average ordinary shares outstanding, basic		38,013,399			37,191,022
Weighted-average ordinary shares outstanding, diluted		38,013,399			38,346,668
Net (loss)/income per share attributable to ordinary shareholders, basic	$	(0.48	)	$	0.070
Net (loss)/income per share attributable to ordinary shareholders, diluted	$	(0.48	)	$	0.068

Net (loss)/income	$	(18,223	)	$	2,574
Other comprehensive gain/(loss) – foreign currency translation adjustments		4,580			(5,983	)
Comprehensive loss		(13,643	)		(3,409	)
Comprehensive loss attributable to noncontrolling interest		37			37
Comprehensive loss attributable to Vaccitech plc shareholders	$	(13,606	)	$	(3,372	)