Bavarian Nordic's Pop Shares Surge Over 11% on Earnings Beat and Bumper MPox Vaccine Order

• Bavarian Nordic's shares rose in early trading on Thursday following the release of better-than-anticipated earnings.
• An undisclosed European country has contracted with the company for a bumper 440,000 dose supply of mpox vaccines.
• The World Health Organization declared mpox a global public health emergency last week.

Bavarian Nordic's shares surged over 12% in early trading on Thursday following the release of better-than-anticipated earnings and a large vaccine order from an undisclosed European country amid the ongoing mpox outbreak.

Bavarian Nordic exceeded analyst expectations in the second quarter, reporting revenues of 1.43 billion Danish krone ($213 million) and an operating profit of 420 million krone.

Shares were up 11.3% by 9:44 a.m. London time.

On Wednesday, the firm announced that it had received a 440,000 dose contract to provide mpox and smallpox vaccines to an unspecified European country.

The order was part of Bavarian Nordic's original 2024 guidance and will not affect the remaining capacity this year, the company stated.

The World Health Organization has declared mpox a global public health emergency after an outbreak in the Democratic Republic of Congo (DRC) spread to neighboring countries.

Some countries are becoming more aware of the need for increased readiness in the face of a potential outbreak, as shown by the order.

Bavarian Nordic has formed a strategic partnership with various authorities to enhance their readiness against smallpox and mpox, as recognized by the authorities since the last outbreak in 2022/23, according to a statement.

The company has the ability to provide up to 10 million doses of the vaccine by the end of next year, with two million doses available this year.

The company announced that all vaccines under the 440,000 order contract will be delivered in 2024, bringing the total value of secured contracts in the Public Preparedness business close to DKK 3 billion.

Bavarian Nordic stated that it could confirm its new revenue guidance for the year at the upper end of its range, with an estimated revenue of approximately DKK 5.3 billion and earnings before interest, taxes, depreciation, and amortization of approximately DKK 1.35 billion.