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].

Prioritizing VTP-1000 development in celiac disease, Phase 1 data expected in mid-2025Postponing further clinical development of VTP-300 in chronic hepatitis B (CHB) until a partner is identifiedExtending the cash runway to the start of 2027 by reducing costs, including an approximate 65% reduction in workforce and expected closure of the U.K. site Future operations will be focused at the U.S. site in Germantown, Maryland OXFORD, United Kingdom and GERMANTOWN, Md., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Barinthu ...

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]

Core Insights - Barinthus Biotherapeutics plc announced significant data from the Phase 2b HBV003 clinical trial, which will be presented at the AASLD meeting on November 18, 2024 [2][3] - The trial aims to evaluate the immunotherapeutic candidate VTP-300 in combination with low-dose nivolumab for chronic hepatitis B treatment [3][8] Study Details - The HBV003 trial has fully recruited 121 participants, with 69 having HBsAg levels below 200 IU/mL [3] - Eight participants achieved complete HBsAg loss, and two met the criteria for functional cure [3][4] - Two participants who discontinued nucleos(t)ide analogue (NUC) therapy seroconverted to HBsAb positivity [4][5] Treatment Efficacy - The combination of VTP-300 and low-dose nivolumab showed stronger immune responses, with durable HBsAg declines observed across all treatment groups [5][6] - Among 40 participants assessed for NUC discontinuation, 66% (6 out of 9) remained off NUC therapy for over six months, with two achieving functional cure [5][6] Safety Profile - Preliminary safety data indicate that VTP-300 combined with low-dose nivolumab was well tolerated, with no treatment-related serious adverse events reported [5][6] Company Overview - Barinthus Bio is focused on developing immunotherapeutic candidates for chronic infectious diseases and autoimmunity, with VTP-300 being a key component in their pipeline [9]

Core Insights - The combination of imdusiran, VTP-300, and low-dose nivolumab shows promising results in achieving HBsAg loss in chronic hepatitis B virus patients, with 23% of participants reaching HBsAg loss by Week 48 [1][3][4] Group C Clinical Trial Data - Group C consisted of 22 non-cirrhotic, virally suppressed cHBV participants, with 13 eligible for low-dose nivolumab [3][6] - Participants receiving the combination treatment of imdusiran, VTP-300, and nivolumab experienced significantly greater mean declines in HBsAg levels (p <0.017) compared to other groups [1][3] - Increases in immune biomarkers associated with T-cell activation were observed in participants who achieved HBsAg loss [3] IM-PROVE II Trial Overview - The IM-PROVE II Phase 2a clinical trial initially enrolled 40 participants, with Groups A and B receiving imdusiran followed by either VTP-300 or placebo [5] - An amendment added Group C, which included participants receiving imdusiran followed by VTP-300 and low-dose nivolumab [6] Mechanism of Action - Imdusiran is designed to reduce HBV viral proteins and antigens, facilitating immune system reawakening [8] - VTP-300 is an immunotherapeutic candidate that induces sustained reductions in HBsAg, aiming to counteract immune suppression caused by chronic HBV infection [9] Company Profiles - Arbutus Biopharma Corporation focuses on developing therapeutics for chronic hepatitis B, with a pipeline that includes imdusiran and an oral PD-L1 inhibitor [10] - Barinthus Biotherapeutics is advancing immunotherapeutic candidates, including VTP-300, targeting chronic infectious diseases and autoimmunity [11]

Table of Contents (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 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) ...

Barinthus Bio Reports Third Quarter 2024 Update on Corporate Developments and Financial Results OXFORD, United Kingdom, November 6, 2024 (GLOBE NEWSWIRE) – Barinthus Biotherapeutics plc (NASDAQ: BRNS), a clinical-stage biopharmaceutical company developing novel immunotherapeutic candidates that guide T cells to control disease, provided an overview of business updates and announced financial results for the third quarter of 2024. "We continue our strong execution on our clinical trials, completing enrollmen ...