{"id":50704,"date":"2022-11-10T14:02:17","date_gmt":"2022-11-10T13:02:17","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/vbi-vaccines-reports-third-quarter-2022-financial-results-and-provides-corporate-update\/"},"modified":"2022-11-10T14:02:17","modified_gmt":"2022-11-10T13:02:17","slug":"vbi-vaccines-reports-third-quarter-2022-financial-results-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/vbi-vaccines-reports-third-quarter-2022-financial-results-and-provides-corporate-update\/","title":{"rendered":"VBI Vaccines Reports Third Quarter 2022 Financial Results and Provides Corporate Update"},"content":{"rendered":"<div>\n<ul class=\"bwlistdisc\">\n<li>\nQ3 marked a meaningful quarter for partnerships with a recently announced prophylactic hepatitis B commercialization collaboration in certain European countries with <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vbivaccines.com%2Fpress-releases%2Fvalneva-partnership%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=Valneva&amp;index=1&amp;md5=282f04324fa5971842d53bc426f9069d\" rel=\"nofollow noopener\" shape=\"rect\">Valneva<\/a>, and a clinical collaboration in glioblastoma with <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vbivaccines.com%2Fpress-releases%2Fagenus-collaboration%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=Agenus&amp;index=2&amp;md5=7ee348ee81af8df647af5b54bd8abc50\" rel=\"nofollow noopener\" shape=\"rect\">Agenus<\/a>\n<\/li>\n<li>\nPreHevbrio\u2122 [Hepatitis B Vaccine (Recombinant)], launched in the U.S. at the end of Q1 2022, is advancing through commercial stage gates required to enable broad access to the vaccine\n<\/li>\n<li>\nFirst clinical study of <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vbivaccines.com%2Fpress-releases%2Finitiation-phase-1-study-multivalent-coronavirus%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=VBI-2901+initiated+in+September+2022&amp;index=3&amp;md5=31b2be03db443017d77c14be331c8069\" rel=\"nofollow noopener\" shape=\"rect\">VBI-2901 initiated in September 2022<\/a> \u2013 multivalent candidate designed to increase breadth of protection against COVID-19 and coronaviruses\n<\/li>\n<li>\nUpsized and refinanced debt facility of up to <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vbivaccines.com%2Fpress-releases%2F100-million-debt-facility-k2-healthventures%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=%24100+million+with+K2+HealthVentures&amp;index=4&amp;md5=1e6710e84c3bf1240f8cb9a225916577\" rel=\"nofollow noopener\" shape=\"rect\">$100 million with K2 HealthVentures<\/a> announced in September 2022\n<\/li>\n<li>\n$83.6 million in cash at the end of Q3 2022\n<\/li>\n<\/ul>\n<p>CAMBRIDGE, Mass.&#8211;(BUSINESS WIRE)&#8211;VBI Vaccines Inc. (Nasdaq: VBIV) (VBI), a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease, today announced financial results for the third quarter ended September 30, 2022, and provided a corporate update.\n<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20221110005335\/en\/1632295\/5\/VBI_Vaccines_Logo_Horiz_RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20221110005335\/en\/1632295\/21\/VBI_Vaccines_Logo_Horiz_RGB.jpg\"><\/a><\/p>\n<p>\nJeff Baxter, VBI\u2019s President and CEO commented:\n<\/p>\n<p>\n\u201cOur second quarter of the U.S. launch of PreHevbrio saw continued progress as our field teams worked to raise awareness of the new CDC adult hepatitis B (HBV) vaccination recommendations and the value proposition of our differentiated 3-antigen HBV vaccine. The launch is proceeding as planned, and we are pleased with the increased excitement, clinical demand, and overall reception our field teams have received. We have continued the implementation of critical market access and contracting infrastructure, all of which are key pieces of the initial groundwork needed to support mid-term commercial success.\n<\/p>\n<p>\n\u201cOutside of the U.S., we were very pleased to announce a marketing and distribution partnership with Valneva in certain European countries, and we look forward to working with their team to provide access to PreHevbri in these countries beginning in early 2023. For the rest of our pipeline, we continue to advance our lead candidates targeting chronic HBV, glioblastoma (GBM), and coronaviruses, and look forward to the anticipated meaningful clinical readouts and regulatory milestones in each program.\u201d\n<\/p>\n<p>\n<b>Recent Key Program Achievements and Projected Upcoming Milestones<\/b>\n<\/p>\n<p>\n<b>Hepatitis B (HBV)<\/b>\n<\/p>\n<p>\n<i><span class=\"bwuline\">Prophylactic Hepatitis B Vaccine<\/span><\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nNotable commercial achievements for PreHevbrio in the U.S. over the past several months include:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\n70% of Medicare-insured lives, 70% of commercially insured lives, and 60% of lives under state Medicaid plans are estimated to have coverage in place for the PreHevbrio specific Current Procedural Terminology (CPT) code\n<\/li>\n<li>\nSales have been recorded in over 90% of our target territories\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<i>September 2022:<\/i> Following marketing authorization in the European Union\/European Economic Area and in the United Kingdom, under the brand name PreHevbri\u00ae [Hepatitis B vaccine (recombinant, adsorbed)], VBI and Valneva announced a marketing and authorization partnership in select European markets \u2013 these markets initially include the U.K., Sweden, Norway, Denmark, Finland, Belgium, and the Netherlands\n<\/li>\n<li>\n<i>Beginning early 2023: <\/i>VBI and Valneva expect to make PreHevbri available in certain European countries\n<\/li>\n<li>\nRegulatory filing under review by Health Canada\n<\/li>\n<\/ul>\n<p>\n<i><span class=\"bwuline\">VBI-2601 (BRII-179): HBV Immunotherapeutic Candidate<\/span><\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<i>Year-end 2022: <\/i>Interim topline data expected from Phase 2 human proof of concept combination study evaluating safety and efficacy of VBI-2601 (BRII-179) with BRII-835 (VIR-2218), an HBV-targeting siRNA\n<\/li>\n<li>\n<i>Q3 2023:<\/i> Interim topline results expected from part one of the two-part Phase 2a\/2b combination study evaluating VBI-2601 (BRII-179) as an add-on to existing pegylated interferon (PEG-IFN-\u03b1) and nucleos(t)ide reverse transcriptase inhibitor (Nrtl) therapy in non-cirrhotic chronic HBV patients\n<\/li>\n<\/ul>\n<p>\n<b>Glioblastoma (GBM)<\/b>\n<\/p>\n<p>\n<i><span class=\"bwuline\">VBI-1901: Cancer Vaccine Immunotherapeutic Candidate<\/span><\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<i>Early 2023: <\/i>Expected initiation of next phase of development in recurrent GBM setting, aiming to expand the number of patients in the ongoing Phase 1\/2a study and adding a randomized control arm, with the potential for accelerated approval based on tumor response rates and improvement in overall survival\n<\/li>\n<li>\n<i>Early 2023:<\/i> Evaluation of VBI-1901 in combination with Agenus\u2019 anti-PD-1, balstilimab, in the primary GBM setting expected to initiate as part of the Individualized Screening Trial of Innovative Glioblastoma Therapy (INSIGhT), a Phase 2 adaptive platform trial\n<\/li>\n<\/ul>\n<p>\n<b>COVID-19 &amp; Coronaviruses<\/b>\n<\/p>\n<p>\n<i><span class=\"bwuline\">VBI-2901: Multivalent Coronavirus Vaccine Candidate<\/span><\/i>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<i>Mid-year 2023: <\/i>Interim data expected from Phase 1 study of VBI-2901, subject to speed of enrollment\n<\/li>\n<\/ul>\n<p>\n<b>Additional Corporate Updates<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nManagement Appointment: <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vbivaccines.com%2Fpress-releases%2Fjohn-dillman-chief-commercial-officer%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=John+Dillman+appointed+as+VBI%26%238217%3Bs+Chief+Commercial+Officer&amp;index=5&amp;md5=ca2807467508d2c468bcffd6464ccce2\" rel=\"nofollow noopener\" shape=\"rect\">John Dillman appointed as VBI\u2019s Chief Commercial Officer<\/a> in July 2022\n<\/li>\n<li>\nDebt Financing: In September 2022, VBI closed a refinanced and upsized debt facility of up to $100 million with existing lender, K2 HealthVentures (K2HV), adding $20 million of non-dilutive funding to the balance sheet\n<\/li>\n<\/ul>\n<p>\n<b>Third Quarter 2022 Financial Results<\/b>\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n<b>Cash Position: <\/b>VBI ended the third quarter of 2022 with $83.6 million in cash compared with $121.7 million in cash as of December 31, 2021.\n<\/li>\n<li>\n<b>Revenue: <\/b>Revenue, net for the third quarter of 2022 was $0.3 million, compared to $0.1 million for the same period in 2021. The increase was due to an increase in U.S. product revenue related to the launch of PreHevbrio in the U.S.\n<\/li>\n<li>\n<b>Cost of Revenue: <\/b>Cost of revenues was $2.7 million in the third quarter of 2022 as compared to $2.5 million in the third quarter of 2021. The increase was due primarily to manufacturing costs for our 3-antigen HBV vaccine related to inventory build for the U.S. market and preparation for European launches.\n<\/li>\n<li>\n<b>Research and Development (R&amp;D): <\/b>R&amp;D expenses for the third quarter of 2022 were $5.0 million compared to $3.0 million for the same period in 2021. R&amp;D expenses were offset by $2.4 million in the third quarter of 2022 and $5.1 million in the third quarter of 2021 due to government grants and funding arrangements. The increase in R&amp;D expenses was mainly driven by the advancement of VBI-1901 as we prepare for the next clinical studies in recurrent and primary GBM patients.\n<\/li>\n<li>\n<b>General and Administrative (G&amp;A): <\/b>G&amp;A expenses for the third quarter of 2022 were $14.2 million compared to $9.7 million for the same period in 2021. The increase in G&amp;A expenses, partially offset by government grants and funding arrangements, was a result of the increased commercial activities related to PreHevbrio, most notably the deployment of our promotional field team and development of our distribution infrastructure. Additional increased costs include increased insurance costs, increased professional costs, and increased labor costs.\n<\/li>\n<li>\n<b>Net Cash Used in Operating Activities: <\/b>Net cash used in operating activities for the nine months ended September 30, 2022 was $54.7 million, compared to $21.4 million for the same period in 2021. The increase was largely due to commercial expenses for the launch of PreHevbrio in the U.S., a decrease in net change in operating working capital related to purchase of inventory for commercial production of PreHevbrio, and $18.4 million of cash advanced from CEPI pursuant to the CEPI Funding Agreement during the nine months ended September 30, 2021, compared to $1.0 million cash advanced from the CEPI Funding Agreement for the same period in 2022.\n<\/li>\n<li>\n<b>Net Loss and Net Loss Per Share: <\/b>Net loss and net loss per share for the third quarter of 2022 were $25.2 million and $0.10, respectively, compared to a net loss of $15.9 million and a net loss per share of $0.06 for the third quarter of 2021.\n<\/li>\n<li>\n<b>Net Loss and Net Loss Per Share, Excluding Foreign Exchange Loss: <\/b>Net loss and net loss per share, excluding foreign exchange loss, for the third quarter of 2022 were $22.5 million and $0.09, respectively, compared to a net loss and a net loss per share, excluding foreign exchange loss, of $16.0 million and $0.06 for the third quarter of 2021. Foreign exchange loss for the third quarter of 2022 was $2.7 million as compared to a gain of $0.2 million for the third quarter of 2021. Certain intercompany loans between VBI Vaccines Inc. and our subsidiaries are denominated in a currency other than the functional currency of each entity. The primary driver of the increase in foreign exchange loss was the impact of the relative strengthening of the U.S. and Canadian Dollars against the New Israeli Shekel upon translation of these intercompany loans.\n<\/li>\n<\/ul>\n<p>\n<b>Use of Non-GAAP Financial Measures<\/b>\n<\/p>\n<p>\nNet Loss Excluding Foreign Exchange Loss and Net Loss per Share Excluding Foreign Exchange Loss are non-GAAP financial measures. VBI\u2019s management believes that the presentation of Net Loss Excluding Foreign Exchange Loss and Net Loss per Share Excluding Foreign Exchange Loss is useful to investors because management does not consider foreign exchange loss, which is primarily driven by changes in exchange rates related to certain intercompany loans, when evaluating VBI\u2019s operating performance. Non-GAAP financial measures are meant to supplement, and to be viewed in conjunction with, GAAP financial results. The presentation of these non-GAAP financial measures should not be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company\u2019s financial statements prepared in accordance with GAAP. Reconciliations of the Company\u2019s non-GAAP measures are included below.\n<\/p>\n<p>\nThe following represents a reconciliation of Net Loss to Net Loss Excluding Foreign Exchange Loss and Net Loss per Share Excluding Foreign Exchange Loss.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Three Months Ended<br \/>\n<br \/>September 30<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Nine Months Ended<br \/>\n<br \/>September 30<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<td class=\"bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"15\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<i>(Unaudited, in 000\u2019s except share and per share amounts)<\/i>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet Loss\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(25,209\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15,847\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(92,162\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(50,970\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nForeign exchange (loss) gain\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,693\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n203\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(28,982\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(127\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet loss excluding foreign exchange loss\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(22,516\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(16,050\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(63,180\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(50,843\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nWeighted-average number of shares\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n258,257,494\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n256,360,356\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n258,257,229\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n254,055,707\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nNet loss per share excluding foreign exchange loss\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.09\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.06\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.24\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.20\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n<b>About PreHevbrio\u2122<\/b>\n<\/p>\n<p>\nVBI\u2019s hepatitis B vaccine is the only 3-antigen hepatitis B vaccine, comprised of the three hepatitis B surface antigens of the hepatitis B virus \u2013 S, pre-S1, and pre-S2. It is approved for use in the United States, European Union\/European Economic Area, United Kingdom, and Israel. The brand names for this vaccine are: PreHevbrio\u2122 (US), PreHevbri\u2122 (EU\/EEA, UK), and Sci-B-Vac\u00ae (Israel).\n<\/p>\n<p>\nPlease visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.prehevbrio.com%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=www.PreHevbrio.com&amp;index=6&amp;md5=e197e581483e6d243c7ff9cfd9a524ba\" rel=\"nofollow noopener\" shape=\"rect\">www.PreHevbrio.com<\/a> for U.S. Important Safety Information for PreHevbrio\u2122 [Hepatitis B Vaccine (Recombinant)], or please see U.S. <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.prehevbrio.com%2Fwp-content%2Fuploads%2F2021%2F11%2FPreHevbrio-Full-Prescribing-Information.pdf&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=Full+Prescribing+Information&amp;index=7&amp;md5=389ca2f9ec709c555ff1920b326d4e51\" rel=\"nofollow noopener\" shape=\"rect\">Full Prescribing Information<\/a>.\n<\/p>\n<p>\n<strong>U.S. Indication<\/strong>\n<\/p>\n<p>\nPreHevbrio is indicated for prevention of infection caused by all known subtypes of hepatitis B virus. PreHevbrio is approved for use in adults 18 years of age and older.\n<\/p>\n<p>\n<strong>U.S. Important Safety Information (ISI)<\/strong>\n<\/p>\n<p>\nDo not administer PreHevbrio to individuals with a history of severe allergic reaction (e.g. anaphylaxis) after a previous dose of any hepatitis B vaccine or to any component of PreHevbrio.\n<\/p>\n<p>\nAppropriate medical treatment and supervision must be available to manage possible anaphylactic reactions following administration of PreHevbrio.\n<\/p>\n<p>\nImmunocompromised persons, including those on immunosuppressant therapy, may have a diminished immune response to PreHevbrio.\n<\/p>\n<p>\nPreHevbrio may not prevent hepatitis B infection, which has a long incubation period, in individuals who have an unrecognized hepatitis B infection at the time of vaccine administration.\n<\/p>\n<p>\nThe most common side effects (&gt; 10%) in adults age 18-44, adults age 45-64, and adults age 65+ were pain and tenderness at the injection site, myalgia, fatigue, and headache.\n<\/p>\n<p>\nThere is a pregnancy exposure registry that monitors pregnancy outcomes in women who received PreHevbrio during pregnancy. Women who receive PreHevbrio during pregnancy are encouraged to contact 1-888-421-8808 (toll-free).\n<\/p>\n<p>\n<strong>To report SUSPECTED ADVERSE REACTIONS, contact VBI Vaccines at 1-888-421-8808 (toll-free) or VAERS at 1-800-822-7967 or <\/strong><a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fvaers.hhs.gov%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=www.vaers.hhs.gov&amp;index=8&amp;md5=6ec32c150f60c6c34f20d814a50bbc84\" rel=\"nofollow noopener\" shape=\"rect\">www.vaers.hhs.gov<\/a><strong>.<\/strong>\n<\/p>\n<p>\n<strong>Please see <\/strong><b><a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.prehevbrio.com%2Fwp-content%2Fuploads%2F2021%2F11%2FPreHevbrio-Full-Prescribing-Information.pdf&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=Full+Prescribing+Information&amp;index=9&amp;md5=3dd5cac86b3f92409bc076a345777907\" rel=\"nofollow noopener\" shape=\"rect\">Full Prescribing Information<\/a><\/b><strong>.<\/strong>\n<\/p>\n<p>\n<b>About VBI Vaccines Inc.<\/b>\n<\/p>\n<p>\nVBI Vaccines Inc. (\u201cVBI\u201d) is a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease. Through its innovative approach to virus-like particles (\u201cVLPs\u201d), including a proprietary enveloped VLP (\u201ceVLP\u201d) platform technology, VBI develops vaccine candidates that mimic the natural presentation of viruses, designed to elicit the innate power of the human immune system. VBI is committed to targeting and overcoming significant infectious diseases, including hepatitis B, coronaviruses, and cytomegalovirus (CMV), as well as aggressive cancers including glioblastoma (GBM). VBI is headquartered in Cambridge, Massachusetts, with research operations in Ottawa, Canada, and a research and manufacturing site in Rehovot, Israel.\n<\/p>\n<p>\nWebsite Home: <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.vbivaccines.com%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.vbivaccines.com%2F&amp;index=10&amp;md5=7f5dbdbd8203bb7637ac47c41b31cc5d\" rel=\"nofollow noopener\" shape=\"rect\">http:\/\/www.vbivaccines.com\/<\/a><br \/>News and Resources: <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.vbivaccines.com%2Fnews-and-resources%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.vbivaccines.com%2Fnews-and-resources%2F&amp;index=11&amp;md5=2718d50c6bafdb5bd26b575ae3f0ebf7\" rel=\"nofollow noopener\" shape=\"rect\">http:\/\/www.vbivaccines.com\/news-and-resources\/<\/a><br \/>Investors: <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.vbivaccines.com%2Finvestors%2F&amp;esheet=52966037&amp;newsitemid=20221110005335&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.vbivaccines.com%2Finvestors%2F&amp;index=12&amp;md5=f1fa628faca798640b21ddf191370c6f\" rel=\"nofollow noopener\" shape=\"rect\">http:\/\/www.vbivaccines.com\/investors\/<\/a>\n<\/p>\n<p>\n<b>Cautionary Statement on Forward-looking Information<\/b>\n<\/p>\n<p>\nCertain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are forward-looking information within the meaning of Canadian securities laws (collectively, \u201cforward-looking statements\u201d). The Company cautions that such statements involve risks and uncertainties that may materially affect the Company\u2019s results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, the impact of general economic, industry or political conditions in the United States or internationally; the impact of the ongoing COVID-19 pandemic and the ongoing effects of the COVID-19 pandemic on our clinical studies, manufacturing, business plan, and the global economy; the ability to successfully manufacture and commercialize PreHevbrio\/PreHevbri; the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of pipeline candidates and the commercialization of PreHevbrio\/PreHevbri; the ability to obtain appropriate or necessary regulatory approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; the Company\u2019s ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to the Company\u2019s products. A discussion of these and other factors, including risks and uncertainties with respect to the Company, is set forth in the Company\u2019s filings with the SEC and the Canadian securities authorities, including its Annual Report on Form 10-K filed with the SEC on March 7, 2022, and filed with the Canadian security authorities at sedar.com on March 7, 2022, as may be supplemented or amended by the Company\u2019s Quarterly Reports on Form 10-Q. Given these risks, uncertainties and factors, you are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. All such forward-looking statements made herein are based on our current expectations and we undertake no duty or obligation to update or revise any forward-looking statements for any reason, except as required by law.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>VBI Vaccines Inc. and Subsidiaries<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Selected Condensed Consolidated Balance Sheet<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i>(In Thousands)<\/i>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwnowrap\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>September 30, 2022<\/b>\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwnowrap\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>December 31, 2021<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<i>(Unaudited)<\/i>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b><i>Assets<\/i><\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCash and cash equivalents\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n83,550\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n121,694\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAccounts receivable, net\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n132\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nInventory, net\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,796\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,576\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nPrepaid expenses and other current assets\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,738\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,006\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTotal current assets\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n96,216\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n130,284\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nProperty and equipment, net\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,149\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,037\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIntangible assets, net\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n57,727\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n62,091\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nGoodwill\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,104\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,261\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther non-current assets\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,814\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,603\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total Assets<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n172,010\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n210,276\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b><i>Liabilities and stockholder\u2019s equity<\/i><\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nAccounts payable\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,666\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,280\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther current liabilities\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23,015\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n28,306\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTotal current liabilities\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n34,681\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n32,586\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTotal non-current liabilities\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n53,512\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n33,808\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total liabilities<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n88,193\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n66,394\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTotal stockholders&#8217; equity\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n83,817\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n143,882\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Total liabilities and stockholders&#8217; equity<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n172,010\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n210,276\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"8\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>VBI Vaccines Inc. and Subsidiaries<\/b>\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"8\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Condensed Consolidated Statement of Operations and Comprehensive Loss<\/b>\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwnowrap\" colspan=\"8\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<i>(In Thousands Except Share and Per Share Amounts)<\/i>\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Three Months Ended<br \/>\n<br \/>September 30<\/b>\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>Nine Months Ended<br \/>\n<br \/>September 30<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2022<\/b>\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2021<\/b>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"15\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<i>(Unaudited)<\/i>\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nRevenues, net\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n317\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n107\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n789\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n550\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOperating expenses\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nCost of revenue\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,672\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,466\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,948\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,511\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nResearch and development\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,983\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,972\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,988\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14,392\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nGeneral and administrative\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14,220\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,693\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n40,234\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25,807\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTotal operating expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21,875\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n15,131\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n61,170\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n47,710\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nLoss from operations\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(21,558\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15,024\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(60,381\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(47,160\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nInterest income (expense), net\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(958\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,026\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,799\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,683\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nForeign exchange gain (loss)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,693\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n203\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(28,982\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(127\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nLoss before income taxes\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(25,209\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15,847\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(92,162\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(50,970\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIncome tax benefit\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Net Loss<\/b>\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(25,209\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(15,847\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(92,162\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(50,970\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nBasic and diluted net loss per share\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.10\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.06\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.36\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.20\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nWeighted-average number of shares used to compute basic and diluted net loss per share\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n258,257,494\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n256,360,356\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n258,257,229\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n254,055,707\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nOther comprehensive income (loss)\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(494\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,607\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23,845\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n106\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n<b>Comprehensive Loss<\/b>\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(25,703\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(17,454\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwpadl0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(68,317\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(50,864\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\n)\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0\n<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\n<b>VBI Contact<\/b><br \/>Nicole Anderson<br \/>\n<br \/>Director, Corporate Communications &amp; IR<br \/>\n<br \/>Phone: (617) 830-3031 x124<br \/>\n<br \/>Email: <a target=\"_blank\" href=\"&#109;&#x61;i&#108;&#x74;o&#58;&#x49;R&#64;&#x76;b&#105;&#x76;a&#99;&#x63;i&#110;&#x65;s&#46;&#x63;o&#109;\" rel=\"nofollow noopener\" shape=\"rect\">&#73;&#x52;&#64;&#x76;&#x62;&#105;&#x76;a&#x63;&#x63;&#105;&#x6e;e&#x73;&#x2e;&#99;&#x6f;m<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Q3 marked a meaningful quarter for partnerships with a recently announced prophylactic hepatitis B commercialization collaboration in certain European countries with Valneva, and a clinical collaboration in glioblastoma with Agenus PreHevbrio\u2122 [Hepatitis B Vaccine (Recombinant)], launched in the U.S. at the end of Q1 2022, is advancing through commercial stage gates required to enable broad &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/vbi-vaccines-reports-third-quarter-2022-financial-results-and-provides-corporate-update\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-50704","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VBI Vaccines Reports Third Quarter 2022 Financial Results and Provides Corporate Update - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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