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vaccitech Vaccitech Reports Second Quarter 2021 Financial Results and Recent Corporate Developments August 12 , 2021 OXFORD , United Kingdom , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Vaccitech plc ( NASDAQ : VACC ) today announced its financial results for the second quarter , ended June 30 , 2021 , and provided an overview of the Company's recent corporate developments . Vaccitech is a clinical - stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer . " The second quarter of 2021 was our first as a public company following our initial public offering that closed in May , " said Bill Enright , CEO of Vaccitech . " Capital raised by that transaction as well as from a Series B private round earlier this year is being applied to our chronic infectious disease and oncology programs . We continue to make significant progress across all of our ongoing programs , including the recent announcement of our clinical collaboration with Arbutus . " Second Quarter and Recent Corporate Developments • Closed an initial public offering of American Depository Shares for total gross proceeds of $ 110.5 million . • Signed a clinical trial collaboration agreement with Arbutus Biopharma Corporation to evaluate an innovative therapeutic combination for the treatment of subjects with chronic hepatitis B virus ( HBV ) infection ( CHB ) who are already receiving standard- of - care nucleoside or nucleotide analog ( NA ) therapy . The Phase 2a clinical trial will evaluate the safety , pharmacokinetics , immunogenicity , and antiviral activity of Arbutus's RNAi therapeutic , AB - 729 , followed by the Company's immunotherapy candidate , VTP - 300 , in NA - suppressed subjects with CHB . Upcoming Milestones • In the fourth quarter of 2021 , the Company expects to announce topline safety and immunogenicity data from the Phase 1 trial of VTP - 300 , HBV001 , in healthy volunteers and patients with chronic HBV infection . • In the same quarter , the Company expects to initiate dosing in the Phase 1 / 2a trial of VTP - 600 in patients with non - small cell lung cancer in combination with a checkpoint inhibitor and chemotherapy . • In the first quarter of 2022 , the Company intends to conduct an interim efficacy review , of HBV002 , the Phase 1 / 2a clinical trial of VTP - 300 in patients with chronic HBV infection . • In the second quarter of 2022 , the Company intends to conduct an interim efficacy review of HPV001 , the Phase 1 / 2a clinical trial of VTP - 200 in patients with high - risk and persistent HPV infection . Second Quarter 2021 Financial Highlights : • Cash position : As of June 30 , 2021 , cash and cash equivalents were $ 243.6 million , compared to $ 43.3 million as of December 31 , 2021. The increase was primarily due to completion of the Series B financing in the first quarter of 2021 , which raised a further $ 125.3 million , and to the initial public offering in the second quarter , which raised gross proceeds of $ 110.5 million . The Company believes its cash and cash equivalents are sufficient to fund operations into the first half of 2024 . • Research and development ( R & D ) expenses : Research and development expenses were $ 4.5 million for the second quarter of 2021 compared to $ 3.9 million for the comparable period of the prior year . The increase in R & D expenses was primarily due to increased spending on progressing the development of VTP - 300 and VTP - 850 . • General and administrative expenses : General and administrative expenses were $ 12.4 million for the second quarter of 2021 compared to $ 1.0 million for the comparable period of the prior year . The increase was primarily attributable to higher personnel costs , reflecting mainly an increase in the Company's headcount over the prior period and vesting of certain share awards upon IPO , and higher insurance costs associated with operating as a public company . • Net loss : The Company generated a net loss attributable to shareholders of $ 15.9 million , or $ 0.64 per share on both basic and fully diluted bases , for the second quarter of 2021 compared to a net loss of $ 3.6 million , or $ 0.45 per share on both basic and fully diluted bases , for the same period of the prior year . About Vaccitech Vaccitech is a clinical - stage biopharmaceutical company engaged in the discovery and development of novel immunotherapeutics and vaccines for the treatment and prevention of infectious diseases and cancer . The Company's proprietary platform comprises proprietary modified simian adenoviral vectors , known as ChAdOx1 and ChAdOx2 , as well as the well - validated Modified Vaccinia Ankara , or MVA , boost vector , both with demonstrable tolerability profiles