Bavarian Nordic announced today the signing of a number of supply contracts with undisclosed countries for the Company’s smallpox vaccine with the aim to ensure sufficient supply to meet the requirements for vaccinating individuals at risk for monkeypox in the short to medium term. The vaccine is approved for use against monkeypox by the U.S. Food and Drug Administration and Health Canada as the only vaccine having obtained regulatory approval for this indication in any territory.
While the terms of the agreements remain undisclosed, the sum of these orders will positively impact the Company’s financial guidance for 2022 as explained below. Bavarian Nordic is currently in dialogue with additional countries concerning supply of the vaccine to mitigate the current monkeypox outbreak and to explore opportunities for longer term collaboration to build stockpiles for future preparedness. In this unprecedented situation, the Company is making every possible effort to ensure sufficient availability of vaccines to meet the current demand.
Image Courtsey by Andrea Chipman
Paul Chaplin, President and CEO of Bavarian Nordic said: “The current monkeypox outbreak continues to call for a swift and coordinated response from health authorities, and we are pleased to assist more countries with supply of vaccines while we continue our dialogues with other governments to make vaccines available as fast as possible to mitigate the situation.”
As a consequence of these orders, Bavarian Nordic raises its expectations for the financial results for 2022 with revenue now expected to be between DKK 1,400 and 1,600 million (previously between DKK 1,300 and 1,500 million), EBITDA expectations raised to a loss between DKK 900 and 1,100 million (previously a loss between DKK 1,000 and 1,200 million) and cash and cash equivalents at year-end now between DKK 1,200 and 1,300 million (previously between DKK 1,100 and 1,200 million). The guidance reflects the significant investments in research and development being made in 2022 to advance the Company’s two lead product candidates: a vaccine against respiratory syncytial virus (RSV) and a booster vaccine against COVID-19 into Phase 3 clinical trials.
