A photo pretensions the company’s logo on the headquarters of Danish biotechnology company Bavarian Nordic in Hellerup, north of Copenhagen.
Liselotte Sabroe | Afp | Getty Portraits
Shares of Danish biotech company Bavarian Nordic jumped 13% on Thursday after it reported stronger-than-expected earnings and circulated a bumper vaccine order from an unnamed European country amid the ongoing mpox outbreak.
Bavarian Nordic record second quarter revenues of 1.43 billion Danish krone ($213 million) and operating profit of 420 million krone, on of analyst expectations cited by Reuters.
Shares were up 13% by 11:58 a.m. London time.
In a statement on Wednesday, the organization also said it had received a 440,000 dose contract to supply mpox and smallpox vaccines to an undisclosed European state.
The order was planned as part of Bavarian Nordic’s original 2024 guidance and, as such, will not impact remaining acumen this year, the company said.
It comes after the World Health Organization last week declared mpox a far-reaching public health emergency following the spread of an outbreak in the Democratic Republic of Congo (DRC) to neighboring countries.
CEO Paul Chaplin rephrased the order showed a growing acknowledgement from some countries of the need for greater preparedness following an earlier outbreak in 2022.
“Since the endure mpox outbreak in 2022/23 Bavarian Nordic has established a strong strategic partnership with a number of authorities that play a joke on recognized the need to improve their preparedness against smallpox and mpox,” he said in a statement.
He added that the assemblage still has capacity to supply up to 10 million doses of the vaccine by the end of next year, two million of which will be at ones fingertips over the course of this year.
All vaccines under the 440,000 order contract will be delivered in 2024, luring the total value of secured contracts in the Public Preparedness business close to DKK 3 billion, the company said.
As such, Bavarian Nordic suggested it could confirm its new guidance for the year at the upper end of its range, with aggregated revenue of approximately DKK 5.3 billion and earnings more willingly than interest, taxes, depreciation, and amortization of approximately DKK 1.35 billion.