BUZZ-VBI Vaccines shoots up on BMO "outperform" initiation

** Shares (Berlin: DI6.BE - news) of biotech firm VBI Vaccines Inc (Berlin: LO91.BE - news) . jumped more than 8 pct on Weds after BMO initiated coverage at "outperform"

** Broker sets $11 PT, about 150 pct above current price

** Lead analyst Do Kim believes Sci (Hamburg: SCI.HM - news) -B-Vac, co's Ph 3 HBV vaccine, is "largely de-risked," given the drug's better responses than GlaxoSmithKline (Other OTC: GLAXF - news) 's Engerix-B and its large commercial safety database

** Adds co's VBI (Taiwan OTC: 4170.TWO - news) -1501A could be first effective CMV vaccine, with Ph 1 data due in Q1 2018

** Kim believes VBIV's recent capital raise alleviates financing risk ahead of Sci-B-Vac's Ph 3 in 1H 2019

** On Oct 30 co announced full exercise of options to purchase additional shares on its previously unveiled concurrent public offering and registered direct offering (priced at $3.05/share), increasing aggregate proceeds to $71.9 mln from $63.5 mln

** BMO was lead left bookrunner for the combined equity raise

** All 4 analysts covering VBIV rate co "buy" or stronger; median PT $10

** With (Other OTC: WWTH - news) today's gain, VBIV's shares have advanced >40 pct YTD (Stephen Culp)