Bavarian Nordic (BAVA)

Business description

Bavarian Nordic is a Danish biotech focused on developing and manufacturing novel cancer immunotherapies and vaccines for infectious diseases. Its lead products are Prostvac (prostate cancer) partnered with Bristol Myers Squibb and Imvamune (smallpox).

Share price chart

Share chart

Stock data

Market cap.DKK8177m
Last closeDKK294.00
High / Low (52 weeks)DKK387.5 / DKK107.5
Stock market listingOMX
Forecast net cash (DKKm)1169
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual(9.1)(12.2)150.2
Relative *(4.7)(7.5)99.9

* % Relative to local index

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Company news

Kerrisdale Capital Releases Short-Thesis Report on Bavarian Nordic A/S and ...

Mon, 03 Aug 2015 09:33:30 GMT

Bavarian Nordic to Host First Half 2015 Results Conference Call

Wed, 19 Aug 2015 15:22:30 GMT

BRIEF-AJ Aamund A/S sells all shares in Bavarian Nordic A/S

Tue, 27 Jan 2015 07:11:50 GMT

Bavarian Nordic Announces First Half 2015 Results

Tue, 25 Aug 2015 05:03:45 GMT

Bavarian Nordic Announces Initiation of NCI-sponsored Phase 2 Study of ...

Fri, 24 Jul 2015 05:31:44 GMT

Y/E Dec Revenue (DKKm) EBITDA (DKKm) PBT (DKKm) EPS (øre) P/E (x) P/CF (x)
2013A 1213.0 181.0 154.0 38.8 7.6 0.5
2014A 1217.0 62.0 110.0 27.3 10.8 0.2
2015E 1188.0 143.0 212.0 66.7 4.4 0.4
2016E 1357.0 272.0 226.0 76.4 3.8 0.4

Last updated on 21/08/2015

Investment summary

Bavarian Nordic has now commenced the planned Phase I study of MVA-BN RSV. Advancing the earlier-stage pipeline is one of Bavarian Nordic’s key priorities, hence this represents an important step. RSV could be a significant opportunity, particularly in adults, and we expect Bavarian to consider partnering, albeit not until at least Phase II. Our valuation, which does not yet include RSV owing to its early stage of development, is largely unchanged at $1,842m.

Last updated on 21/08/2015

Industry outlook

Bavarian Nordic has expertise in both vaccines (with two technology platforms) and manufacturing (with a multipurpose, approved facility). The pipeline includes two Phase III assets (Prostvac and Imvamune) and is largely focused on cancer immunotherapy (Prostvac and CV-301) and infectious diseases (Imvamune/smallpox, RSV and Ebola).

Last updated on 03/08/2015

Key management

Gerard van Odijk, Chairman
Paul Chaplin, CEO
Ole Larsen, CFO
Rolf Sass, IR
Seth Lewis, IR

Company address

Hejreskovvej 10A
DK-3490 Kvistgaard
Denmark
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