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Vascular Biogenics Ltd. (Nasdaq: VBLT), commonly known as VBL Therapeutics, is a leading biotechnology company headquartered at 6 Yonatan Netanyahu Street, Yehud, Center District, Israel. The company is dedicated to the discovery, development, and commercialization of innovative therapies for treating cancer and immune-inflammatory diseases. Its mission is to transform the standard of care in oncology through precision medicines.
Recently, VBL Therapeutics has made significant strides in its corporate journey. On August 14, 2023, the company announced its financial results for the second quarter ending June 30, 2023, and provided updates on its ongoing merger with Notable Labs, Inc. This merger is seen as a pivotal move, aiming to combine VBL's cutting-edge technologies with Notable's Predictive Precision Medicines Platform. The merger is anticipated to create a robust entity focused on developing a pipeline of clinical-stage precision medicines.
On September 6, 2023, the company's registration statement on Form S-4 was declared effective by the U.S. Securities and Exchange Commission (SEC), marking a critical milestone towards completing the merger. Following the approval from VBL’s shareholders at the annual and special meeting held on October 12, 2023, the merger is expected to close around October 16, 2023. Post-merger, VBL will be renamed 'Notable Labs, Ltd.' and will trade under the new symbol 'NTBL' on the Nasdaq Capital Market.
The merger with Notable Labs is expected to leverage Notable's technology to enhance VBL’s existing pipeline, offering a promising future for patients and shareholders alike. The combined organization aims to advance precision medicines that could significantly improve patient outcomes in oncology.
VBL Therapeutics (Nasdaq: VBLT) announced the elevation of Marc Kozin to chairman of the board, succeeding Bennett Shapiro, M.D., who will remain on the board. This leadership transition was anticipated as part of a succession plan initiated in October 2020. Kozin highlighted progress in the development of VB-111 for treating platinum-resistant ovarian cancer, with results from the OVAL study expected in 2022. The pivotal OVAL trial involves approximately 400 patients and aims to compare VB-111 with placebo, underscoring the company's ongoing commitment to innovation in oncology.
VBL Therapeutics (Nasdaq: VBLT) has appointed Alison Finger and Michael Rice to its Board of Directors, effective July 7, 2021, following the departure of Professor Ruth Arnon, who will continue as a scientific consultant. Finger brings extensive experience from bluebird bio and Bristol-Myers Squibb, aimed at enhancing commercialization efforts, while Rice's background in healthcare capital markets will assist in strategic planning. The company anticipates critical data from the OVAL clinical trial for VB-111, an investigational therapy for platinum-resistant ovarian cancer.
VBL Therapeutics (Nasdaq: VBLT) announced an update on its OVAL Phase 3 study for ofranergene obadenovec (VB-111), targeting platinum-resistant ovarian cancer. The FDA notified the company that new VB-111 batches await clearance pending technical review. Consequently, recruitment of new patients in the U.S. will be paused, though current patients will continue treatment. Approximately 75% of the 400-patient enrollment target has been achieved. The primary endpoint has been amended to include progression-free survival alongside overall survival.
VBL Therapeutics (Nasdaq: VBLT) has announced a significant amendment to the OVAL Phase 3 clinical trial for VB-111, adding a second primary endpoint of progression-free survival (PFS) alongside overall survival (OS). This decision, made in consultation with the FDA, is expected to de-risk the trial and could accelerate the Biologics License Application (BLA) submission by one year, with PFS data anticipated in 2022. As of April 30, 2021, over 260 patients have been enrolled in the trial, which aims to treat platinum-resistant ovarian cancer.
VBL Therapeutics announced a significant update regarding the OVAL Phase 3 clinical trial of VB-111 in platinum-resistant ovarian cancer, which will be presented at the ASCO Annual Meeting. The trial is on track to enroll about 400 patients, comparing the efficacy of VB-111 combined with paclitaxel to a placebo with paclitaxel. VB-111 has previously shown promise in clinical studies and has received several designations for its potential benefits in cancer treatment.
VBL Therapeutics (VBLT) reported its financial results for Q1 2021, highlighting a net loss of $6.3 million or $0.12 per share, compared to a net loss of $5.4 million or $0.15 per share in Q1 2020. The company raised $40 million in capital this year, including $28.3 million through a public offering, which extends its cash runway until year-end 2023. The OVAL Phase 3 study of VB-111 for platinum-resistant ovarian cancer is progressing well with over 260 patients enrolled. Positive interim results were published, showing a CA-125 response rate of at least 58%.
VBL Therapeutics (VBLT) will announce its Q1 financial results for the period ending March 31, 2021, on May 11, 2021, before market open. An accompanying conference call will be hosted by CEO Dror Harats and CFO Amos Ron at 8:30 AM EDT on the same day. VBL Therapeutics specializes in novel treatments for cancer and immune-related conditions, with their lead candidate, VB-111, currently in a Phase 3 trial for platinum-resistant ovarian cancer.
VBL Therapeutics (NASDAQ: VBLT) has completed its public offering of 6,901,790 ordinary shares and pre-funded warrants for 8,050,000 ordinary shares at prices of $1.90 and $1.89 respectively, yielding approximately $28.3 million in gross proceeds. The capital will be allocated for working capital and general corporate purposes. The offering was managed by Guggenheim Securities, along with Oppenheimer & Co. Inc. and others. This follows the company’s ongoing clinical studies for its lead candidate, VB-111, targeting cancer treatments.
VBL Therapeutics (NASDAQ: VBLT) announced the pricing of a public offering comprising 5,150,265 ordinary shares and 8,050,000 pre-funded warrants, priced at $1.90 and $1.89 respectively. The offering, expected to close on April 13, 2021, may generate approximately $25 million in gross proceeds. The funds will be allocated for working capital and general corporate purposes. Guggenheim Securities acts as the bookrunning manager, supported by Oppenheimer & Co. Inc. and others. All securities are being sold by VBL Therapeutics.
VBL Therapeutics (NASDAQ: VBLT) announced an intention to conduct an underwritten public offering of ordinary shares, with pre-funded warrants offered to select investors. The company plans to grant underwriters a 30-day option to purchase an additional 15% of the shares. Proceeds will be used for working capital and general corporate purposes. The offering is subject to market conditions and no assurance can be given regarding its completion or terms. Guggenheim Securities and Oppenheimer & Co. are the bookrunning managers for the offering.
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