Bavarian Nordic rebounds as new mpox vaccine order boosts outlook

Following three consecutive sessions of declines, shares of Bavarian Nordic (OTCPK:BVNRY) bounced back on Thursday after the Danish company announced its H1 2024 results and set its outlook at the upper end of the previously issued range to account for a new mpox vaccine order.

While Bavarian Nordic (OTCPK:BVNRY) shares climbed ~13% in Copenhagen, its rival mpox vaccine developers Chimerix (CMRX) slipped ~3% and Emergent Biosolutions (EBS) traded flat in the premarket.

Other stocks to watch: Developers of mpox treatments such as GeoVax Labs (GOVX), SIGA Technologies (SIGA), and Tonix Pharmaceuticals (TNXP).

Mpox test makers including Co-Diagnostics (CODX), Roche (OTCQX:RHHBY), Abbott Laboratories (ABT) and Applied DNA Sciences (APDN).

Late Wednesday, Bavarian Nordic (OTCPK:BVNRY), the maker of Jynneos mpox vaccine, said that it received a contract to supply 440K doses of its MVA-BN smallpox/mpox vaccine to an undisclosed European country.

However, given the ongoing mpox outbreak, the company reaffirmed its manufacturing capacity to supply 10M doses of its smallpox/ mpox vaccines by the end of 2025, including 2M doses for the remainder of 2024, as its original guidance had already reflected the latest order.

With vaccines under the latest contract scheduled for 2024 delivery, Bavarian Nordic (OTCPK:BVNKF) confirmed its full-year guidance at the upper end of the previously announced range.

Its full-year revenue outlook of roughly DKK 5,300M ($791M) includes about DKK 3,000M ($448M) from its Public Preparedness business and DKK 2,100M ($314M) and DKK 200M ($30M) attributed to its Travel Health and Contract Work businesses, respectively.

Earlier in the day, Bavarian Nordic (OTCPK:BVNRY) reported Q2 2024 results indicating DKK 420M ($63M) of EBITDA on DKK 1.4B ($213M) of revenue, both of which exceeded analysts’ estimates compiled by Reuters.