Bavarian Nordic Inks Multiple Supply Pact For Its Monkey pox Vaccine, Updates FY22 Guidance

Zinger Key Points
  • Bavarian Nordic signed several contracts of varying size aiming to ensure a rapid response to the current monkeypox outbreak.
  • The new US contract brings total deliveries in 2022 and 2023 to nearly 7 million doses.
  • Bavarian Nordic A/S BVNRY has signed several supply contracts with undisclosed countries for its liquid-frozen Jynneos, a non-replicating smallpox vaccine, the only FDA-approved vaccine against monkeypox.
  • The contracts aim to ensure sufficient supply to meet the requirements for vaccinating individuals at risk for monkeypox in short to medium term. 
  • Bavarian Nordic raises its expectations for the financial results for 2022, with revenue now expected to be DKK 2.7 - 2.9 billion (previously between DKK 2.3-2.5 billion).
  • The company forecasts an EBITDA loss of DKK (100) - (300) million (previously a loss between DKK (400) - (600) million).
  • It expects cash and cash equivalents to exceed DKK 1.7 billion (previously between DKK 1.7 -1.9 billion).
  • Related: EU, Bavarian Nordic Ink Supply Pact For 110,000 Monkeypox Vaccines.
  • The U.S. government also ordered an additional 2.5 million doses of Bavarian Nordic's vaccine against monkeypox.
  • The new order follows two previous orders from BARDA in June and July 2022 for 500,000 and 2.5 million doses, respectively, which, together with an order from BARDA in 2020 for 1.4 million doses, will bring the total deliveries in 2022 and 2023 to nearly 7 million doses.
  • This additional order will be filled at a U.S.-based contract manufacturer using bulk vaccines already manufactured and invoiced under contracts with BARDA and currently stored at Bavarian Nordic. 
  • The company expects to deliver approximately 1 million doses in 2022. 
  • Price Action: BVNRY shares closed 1.61% higher at $10.76 on Friday.
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Posted In: BiotechGovernmentNewsHealth CareContractsGeneralBriefsMonkeypox
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