Bavarian Nordic Awarded Contract Options from the U.S. Government for Production and Supply of Freeze-dried Smallpox/Mpox Vaccines

Core Insights - Bavarian Nordic A/S has received an additional contract option from BARDA valued at USD 143.6 million for the supply of freeze-dried JYNNEOS smallpox vaccine [1][10] - The new contract options will support the manufacturing and supply of the freeze-dried formulation, which has an extended shelf life, with deliveries planned for 2026 [2][8] Financial Guidance - Bavarian Nordic's financial guidance for 2025 remains unchanged, projecting total revenues between DKK 5,700 million and DKK 6,700 million, with an EBITDA margin of 26-30% [3] - Revenue from the Public Preparedness business is expected to be between DKK 3,000 million and DKK 4,000 million, with DKK 2,650 million already secured, reflecting an increase of DKK 150 million due to the exercise of the options [3] Product Development and Approval - The freeze-dried formulation of JYNNEOS was approved by the FDA in March 2025, offering advantages in transportation, storage, and shelf life compared to the liquid-frozen version [8] - JYNNEOS is the first smallpox vaccine developed under Project BioShield, which aims to enhance the availability of medical countermeasures against various threats [6] Historical Context - Bavarian Nordic has been collaborating with the U.S. government since 2003 for the development and supply of smallpox vaccines, including the liquid-frozen formulation supplied since 2010 [5][7] - The company has a ten-year contract awarded in 2017, which includes options valued at USD 299 million for the fill and finish of freeze-dried vaccines, of which USD 284 million has been exercised to date [7]