BMO Capital analyst Do Kim lowered his price target on VBI Vaccines (VBIV) to $5, saying that while the company's Sci-B-Vac Phase 3 data met co-primary endpoints showing superior efficacy over Engerix-B, it missed on a secondary for non-inferiority after two doses versus three-dose Engerix. The analyst notes that his lowered estimates reflect a "more equal share" among the low-responder population with Dynavax's (DVAX) Heplisav-B, which is two doses. Do Kim also keeps his Outperform rating on VBI Vaccines while acknowledging that the company has financing needs before Sci-B-Vac approval.