Barinthus Biotherapeutics plc. Files 2023 Annual Report

TL;DR

<b>Barinthus Biotherapeutics plc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Barinthus Biotherapeutics plc. (BRNS) filed a Annual Report (10-K) with the SEC on March 20, 2024. Barinthus Biotherapeutics plc. filed its 2023 10-K report on March 20, 2024. The company was formerly known as Vaccitech plc, with a name change effective April 7, 2021. The fiscal year end for reporting is December 31, 2023. The company's principal business address is in Didcot, UK. The filing covers the period from January 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking Barinthus Biotherapeutics plc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Understanding the details within this report is crucial for investors and stakeholders to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — Barinthus Biotherapeutics plc. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight, lengthy development cycles, and substantial R&D investment, posing inherent risks to financial performance and market success.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Barinthus Biotherapeutics' financial health and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-20 — Filing Date (Date of submission)
• 001-40367 — SEC File Number (SEC registration number)

Key Players & Entities

• Barinthus Biotherapeutics plc. (company) — Filer name
• Vaccitech plc (company) — Former company name
• 20231231 (date) — Fiscal year end
• 20240320 (date) — Filing date
• Didcot (location) — Business address city
• 44 (0) 1865 818808 (phone_number) — Business phone

FAQ

Risk Factors

• Regulatory Risks [high — regulatory]: The pharmaceutical industry is subject to extensive regulation by health authorities, which can impact product development, approval, and marketing.
• Research and Development Costs [high — financial]: Significant investment in research and development is required, with no guarantee of successful product commercialization.
• Competition [medium — market]: The company faces competition from other biotechnology and pharmaceutical companies.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-20: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document filed by Barinthus Biotherapeutics plc. to report its annual financial results and business operations.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the 10-K filing.)

Filing Documents

• brns-20231231.htm (10-K) — 2128KB
• brns-20231231xex1018.htm (EX-10.18) — 465KB
• brns-20231231xex211.htm (EX-21.1) — 5KB
• brns-20231231xex231.htm (EX-23.1) — 4KB
• brns-20231231xex311.htm (EX-31.1) — 11KB
• brns-20231231xex312.htm (EX-31.2) — 11KB
• brns-20231231xex321.htm (EX-32.1) — 7KB
• annexev6a.jpg (GRAPHIC) — 134KB
• brns-20231231_g1.jpg (GRAPHIC) — 102KB
• brns-20231231_g10.jpg (GRAPHIC) — 111KB
• brns-20231231_g11.jpg (GRAPHIC) — 14KB
• brns-20231231_g12.gif (GRAPHIC) — 57KB
• brns-20231231_g2.jpg (GRAPHIC) — 110KB
• brns-20231231_g3.jpg (GRAPHIC) — 341KB
• brns-20231231_g4.jpg (GRAPHIC) — 110KB
• brns-20231231_g5.jpg (GRAPHIC) — 125KB
• brns-20231231_g6.jpg (GRAPHIC) — 102KB
• brns-20231231_g7.jpg (GRAPHIC) — 488KB
• brns-20231231_g8.gif (GRAPHIC) — 41KB
• brns-20231231_g9.gif (GRAPHIC) — 72KB
• image_0a.jpg (GRAPHIC) — 1KB
• image_1a.jpg (GRAPHIC) — 5KB
• image_2a.jpg (GRAPHIC) — 1KB
• image_3a.jpg (GRAPHIC) — 0KB
• 0001828185-24-000011.txt (&nbsp;) — 12859KB
• brns-20231231.xsd (EX-101.SCH) — 66KB
• brns-20231231_cal.xml (EX-101.CAL) — 87KB
• brns-20231231_def.xml (EX-101.DEF) — 251KB
• brns-20231231_lab.xml (EX-101.LAB) — 638KB
• brns-20231231_pre.xml (EX-101.PRE) — 455KB
• brns-20231231_htm.xml (XML) — 747KB

Business

Business 8 Item 1A.

Risk Factors

Risk Factors 54 Item 1B. Unresolved Staff Comments 111 Item 1C. Cybersecurity 112 Item 2 . P roperties 112 Item 3.

Legal Proceedings

Legal Proceedings 112 Item 4. Mine Safety Disclosures 112 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 113 Item 6. [Reserved] 116 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 116 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 128 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 129 Item 9. Changes in and Disagreements w ith Accountants on Accounting and Financial Disclosure 130 Item 9A.

Controls and Procedures

Controls and Procedures 130 Item 9B. Other Information 132 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 132 PART III Item 10. Directors, Executive Officers and Corporate Governance 133 Item 11.

Executive Compensation

Executive Compensation 133 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 133 Item 13. Certain Relationships and Related Transactions, and Director Independence 133 Item 14. Principal Accounting Fees and Services 133 PART IV Item 15. Exhibits, Financial Statement Schedules 134 Item 16. Form 10-K Summary 137

SIGNATURES

SIGNATURES 138 2 Table of Contents W e own the registered trademark BARINTHUS in the United Kingdom, and we have filed applications at the UK Intellectual Property Office and other intellectual properties to register trademarks for BARINTHUS , SNAP-TI, SNAP-CI and a design logo globally . We also own various trademark registrations and applications, and unregistered trademarks, including the registered trademark VACCITECH, and trademarks relating to the technologies acquired as part of our acquisition of Avidea Technologies, Inc. in December 2021 including the registered trademarks TRAPD, SNAPVAX and SYNTHOLYTIC . All other trade names, trademarks and service marks of other companies appearing in this Annual Report on Form 10-K ("Annual Report") are the property of their respective holders. Solely for convenience, the trademarks and trade names in this Annual Report may be referred to without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend to use or display other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. From time to time, we may use our website, our X (formerly known as Twitter) account at @Barinthusbio and our LinkedIn account at linkedin.com/company/barinthus-bio to distribute material information. Our financial and other material information is routinely posted to and accessible on the Investors section of our website, available at www.barinthusbio.com. Investors are encouraged to review the Investors section of our website because we may post material information on that site that is not otherwise disseminated by us. Information that is contained in and can be accessed through our website, our X (formerly known as Twitter) posts and our LinkedIn posts are not incorporated into, and does not form a part of, this

Business

Item 1. Business Overview We are a clinical-stage biopharmaceutical company developing novel T cell immunotherapeutic candidates designed to guide the immune system to overcome chronic infectious diseases, autoimmunity and cancer. Helping patients and their families is the guiding principle at the heart of Barinthus Bio. We stand apart through our broad pipeline, built around four proprietary platform technologies; two viral vector platforms, ChAdOx and MVA; and two versions of the synthetic SNAP platform, SNAP-TI (SNAP-Tolerance Immunotherapy) and SNAP-CI (SNAP-Cancer Immunotherapy), previously referred to collectively as SNAPvax TM . These platforms are enabling us to develop antigen-specific immunotherapeutic candidates designed to optimize the disease-fighting capabilities of T cells and guide them towards a healthy balance. Our immunotherapeutic candidates are designed to work by increasing disease-specific CD8+ T cell activity in the case of chronic infectious diseases and cancers, or by dampening autoreactive CD4+ and CD8+ T cells, and increasing regulatory T cells in autoimmunity. Harnessing our range of proprietary platform technologies, we are advancing a pipeline of four product candidates across a diverse range of therapeutic areas, including: VTP-300, a Phase 2 immunotherapeutic candidate designed as a potential component of a functional cure for chronic hepatitis B viral ("HBV") infection; VTP-200, a Phase 2 non-surgical product candidate for persistent high-risk human papillomavirus ("HPV") with near term clinical read-outs; VTP-1000, our first preclinical autoimmune candidate designed to utilize the SNAP-TI platform to treat patients with celiac disease; and VTP-850, a second-generation Phase 2 immunotherapeutic candidate designed to treat recurrent prostate cancer. Alongside these proprietary programs, we have partnerships in place to advance three additional prophylactic and therapeutic product candidates in Middle East Respiratory Syndrome ("M

View Full Filing

View this 10-K filing on SEC EDGAR