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) and Imvamune (smallpox).

Share price chart

Share chart

Stock data

Market cap.DKK9664.6m
Last closeDKK348.50
High / Low (52 weeks)DKK387.5 / DKK97.0
Stock market listingOMX
Forecast net cash (DKKm)1117
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual(0.1)66.8259.3
Relative *(5.5)32.3155.0

* % Relative to local index

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Company news

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

Tue, 27 Jan 2015 06:56:15 GMT

Bavarian Nordic A/S - Major Shareholder Announcement

Fri, 13 Mar 2015 21:33:45 GMT

Bavarian Nordic A/S - Notice Convening Ordinary General Meeting

Fri, 27 Mar 2015 07:52:30 GMT

Bavarian Nordic to Present at Needham & Company's 14th Annual Healthcare ...

Tue, 14 Apr 2015 17:15:00 GMT

Johnson & Johnson, Bavarian Nordic ink $187M deal for Ebola virus vaccine

Thu, 23 Oct 2014 00:33:45 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 9.0 0.6
2014A 1217.0 62.0 110.0 27.3 12.8 0.3
2015E 1188.0 171.0 121.0 39.6 8.8 0.5
2016E 1357.0 285.0 239.0 81.4 4.3 0.4

Last updated on 16/04/2015

Investment summary

The BMS and J&J deals, and continued Imvamune related income have provided Bavarian Nordic with validation of its vaccine technologies and manufacturing expertise, in addition to cash to now focus on expanding the pipeline. The BMS Prostvac deal provides opportunities to maximize value from this asset, while the J&J Ebola deal has bridged the Imvamune gap ahead of the likely transition to a freeze-dried formulation in 2016; there is also scope for future Ebola contract extensions. Our valuation is upgraded to $1,786m with inclusion of the BMS deal.

Last updated on 16/04/2015

Industry outlook

The prostate cancer market is highly dynamic with various newly approved therapies; further Prostvac clinical data will be important in giving further insight into its commercial potential. Imvamune is a non-replicating third-generation smallpox vaccine that does not elicit comparable safety issues to previous generations; future US, European and Canadian orders are expected.

Last updated on 31/03/2015

Key management

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

Company address

Hejreskovvej 10A
DK-3490 Kvistgaard
Denmark
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