Summary of Barinthus Biotherapeutics plc (BRNS) Conference Call Company Overview - Barinthus Biotherapeutics plc focuses on next-generation immunotherapies targeting autoimmune and inflammatory diseases, utilizing a platform called SnapTI [4][5] Key Developments - The lead candidate, VTP 1000, is currently in phase one clinical trials for celiac disease, with expected data readout by the end of Q3 or early Q4 2025 [6][48] - The company has approximately $100 million in cash, providing a runway into 2027 with no debt or outstanding warrants [6][48] SnapTI Platform - SnapTI is a self-assembling nanoparticle platform designed to restore immune system balance by co-delivering multiple disease-associated antigens with an immunomodulator [5][11] - The platform allows for patient-friendly administration via intramuscular (IM) or subcutaneous (SubQ) routes, enhancing tolerability and broadening antigen coverage [12][13] Celiac Disease Focus - Celiac disease affects about 1% of the global population, with current treatment limited to a strict gluten-free diet [16] - VTP 1000 aims to rebalance the immune system by reducing T effector cells and stimulating T regulatory cells, addressing the underlying immune imbalance in celiac disease [18] Clinical Trials - The phase one trial is a double-blind, placebo-controlled study involving 18 patients in a single ascending dose (SAD) design, with safety and biomarker changes being key focuses [29][30] - A multiple ascending dose (MAD) portion has received FDA approval, involving 24 patients and a gluten challenge to assess efficacy [30] Viral-Based Platform - The company is winding down its viral-based platform, which includes VTP 300 for chronic hepatitis B and VTP 850 for prostate cancer, seeking partners to advance these programs [35][36] - Chronic hepatitis B presents a significant market opportunity, with over 250 million people affected globally and current treatments yielding low cure rates [37][38] Encouraging Data - VTP 300 is designed to stimulate both exhausted T cells and new T cells to combat hepatitis B, with a focus on achieving a functional cure defined as surface antigen loss after stopping nucleoside treatments [39][40] - Recent studies showed promising results, with 20-25% functional cure rates, significantly higher than current standard care [46][47] Financial Outlook - The company has no immediate plans for fundraising, relying on existing cash reserves and upcoming clinical data to guide future financial strategies [50]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to ________ Commission File Number: 001-40367 BARINTHUS BIOTHERAPEUTICS PLC (Exact Name of Registrant as Specified in its Charter) Eng ...

OXFORD, United Kingdom and GERMANTOWN, Maryland, May 7, 2025 (GLOBE NEWSWIRE) – Barinthus Biotherapeutics plc (NASDAQ: BRNS) ("Barinthus Bio," or the "Company"), an immunology and inflammation ("I&I") company focused on developing therapies that promote immune tolerance with curative potential, today announced its financial results for the quarter ended March 31, 2025 and provided an overview of the Company's corporate developments. "2025 has started with a strategic focus on immunological and inflammatory ...

OXFORD, United Kingdom and GERMANTOWN, Md., May 07, 2025 (GLOBE NEWSWIRE) -- Barinthus Biotherapeutics plc (NASDAQ: BRNS) ("Barinthus Bio," or the "Company"), an immunology and inflammation ("I&I") company focused on developing therapies that promote immune tolerance with curative potential, today announced its financial results for the quarter ended March 31, 2025 and provided an overview of the Company's corporate developments. "2025 has started with a strategic focus on immunological and inflammatory dis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-40367 BARINTHUS BIOTHERAPEUTICS PLC (Exact name of registrant as specified in its charter) England and Wales Not Applicable (State or other jurisdic ...

Financial Estimates - The preliminary estimated cash, cash equivalents, and restricted cash for Barinthus Biotherapeutics plc as of December 31, 2024, is expected to be $112 million[5]. Workforce Reduction - The company plans a 65% reduction in workforce, primarily in the UK, with pre-tax costs estimated at $2.5 million related to employee severance and other costs[7]. - The majority of the workforce reduction is anticipated to be completed during the first half of 2025[7]. - The company has announced the termination of employment for two key executives as part of the restructuring[8]. Restructuring Plan - The restructuring plan aims to prioritize immune tolerance research and development programs[7]. - The restructuring costs and potential operating expense reductions are subject to various assumptions, and actual results may vary[7]. Strategic Focus - The company issued a press release on January 10, 2025, outlining its strategic focus in immunology and inflammation[10]. - A corporate presentation was updated for investor meetings, reflecting the company's current strategies and financial updates[11]. Forward-Looking Statements - Forward-looking statements indicate that actual results may differ materially from preliminary estimates due to various risks and uncertainties[13]. - The company cautions against placing undue reliance on forward-looking statements, which are based on current expectations and beliefs[13].

Core Insights - Barinthus Biotherapeutics plc is focusing on immunological and inflammatory diseases, particularly with its lead asset VTP-1000 for celiac disease, which is expected to show promising results in upcoming clinical trials [2][3][4] - The company reported a net loss of $61.1 million for the year ended December 31, 2024, an improvement from a net loss of $73.3 million in 2023, indicating a reduction in losses [12][16] - Barinthus Bio's cash position decreased to $112.4 million as of December 31, 2024, down from $142.1 million in 2023, but the company expects its resources to fund operations into 2027 [12][15] Financial Performance - Total revenue for 2024 was $15.0 million, a significant increase from $0.8 million in 2023, primarily due to royalties from Vaxzevria® sales [12][16] - Research and development expenses decreased to $42.2 million in 2024 from $44.9 million in 2023, mainly due to reduced spending on certain programs [12][16] - General and administrative expenses were reduced to $29.7 million in 2024 from $39.8 million in 2023, reflecting cost management efforts [12][16] Clinical Developments - VTP-1000 is currently in a Phase 1 clinical trial for celiac disease, with initial data expected in the third quarter of 2025 [2][4][6] - The Phase 2 trials for VTP-300 in chronic hepatitis B showed that eight participants achieved undetectable HBsAg levels, with two meeting functional cure criteria [2][6] - The company completed enrollment for the Phase 1 PCA001 trial for VTP-850 in prostate cancer, with results anticipated in the second quarter of 2025 [5][8] Strategic Focus - Barinthus Bio has undergone a strategic restructuring to prioritize immunology and inflammation, aiming to leverage its SNAP-TI platform for future pipeline opportunities [2][3][7] - The company plans to seek partnerships for VTP-300 after the completion of the ongoing Phase 2b HBV003 trial, indicating a shift in focus towards collaboration [7][12] - The leadership team has seen changes, including the appointment of a new Chief Medical Officer and a promotion to Chief Scientific Officer, reflecting a commitment to strengthen the executive team [7]

Core Viewpoint - Barinthus Biotherapeutics PLC Sponsored ADR (BRNS) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on changes in earnings estimates, tracking EPS estimates from sell-side analysts through a consensus measure known as the Zacks Consensus Estimate [2]. - Barinthus Biotherapeutics is expected to earn -$1.38 per share for the fiscal year ending December 2024, reflecting a year-over-year change of 27.8% [9]. - Over the past three months, the Zacks Consensus Estimate for Barinthus has increased by 17.4%, indicating a positive trend in earnings estimates [9]. Impact on Stock Price - The correlation between changes in earnings estimates and stock price movements is strong, with institutional investors using these estimates to determine the fair value of stocks [5]. - The upgrade to Zacks Rank 1 positions Barinthus in the top 5% of Zacks-covered stocks, suggesting potential for higher stock prices in the near term [11]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The system maintains a balanced distribution of 'buy' and 'sell' ratings, ensuring that only the top 20% of stocks are considered for strong recommendations [10][11].

Core Insights - Barinthus Biotherapeutics plc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapeutic candidates to guide T cells in disease control [1][8] - The company is undergoing a strategic restructuring to prioritize its SNAP-TI platform for autoimmune diseases and extend its cash runway to early 2027 [5][6] Strategic Business Focus and Restructuring - The company will prioritize the development of VTP-1000 for celiac disease, with Phase 1 data expected in mid-2025 [5][6] - Further clinical development of VTP-300 for chronic hepatitis B is postponed until a partner is identified [5][6] - A significant workforce reduction of approximately 65% is planned, along with the closure of the U.K. site, focusing future operations in Germantown, Maryland [5][6] Financial Update - Cash, cash equivalents, and restricted cash are projected to be $112 million as of December 31, 2024, which is expected to fund operations until early 2027 [6][7] - The company aims to streamline operating costs as part of its restructuring efforts [6] Anticipated 2025 Corporate Milestones - Results from the Phase 1 PCA001 clinical trial for VTP-850 in prostate cancer are expected in Q2 2025 [4][5] - Announcement of single ascending dose data from the AVALON Phase 1 trial for VTP-1000 in celiac disease is anticipated in mid-2025 [6] - Results from the Phase 2b HBV003 clinical trial for VTP-300 are expected in Q2 2025 [6]

Core Points - Barinthus Biotherapeutics plc has announced the promotion of Geoffrey Lynn, M.D., Ph.D. to Chief Scientific Officer, effective December 1, 2024, succeeding Nadège Pelletier, Ph.D. [1][2] - Dr. Pelletier has been instrumental in developing a robust preclinical pipeline targeting autoimmune and inflammatory diseases and will assist in the transition process [2] - Barinthus Bio has achieved functional cures with VTP-300 for chronic hepatitis B and has initiated a Phase 1 trial for VTP-1000, aimed at treating celiac disease [3] - Dr. Lynn brings over 15 years of experience in immunotherapeutic R&D and previously led Avidea Technologies, Inc. before its acquisition by Barinthus Bio [3] Company Overview - Barinthus Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing novel immunotherapeutic candidates to combat chronic infectious diseases and autoimmunity [4] - The company’s pipeline includes VTP-300, targeting chronic HBV infection, and VTP-1000, designed for celiac disease, along with VTP-850, aimed at recurrent prostate cancer [4] - Barinthus Bio's proprietary platform technologies and scientific expertise position it well for advancing treatments that improve patient outcomes in chronic diseases [4]