Bavarian Nordic

Bavarian Nordic

BAVA.CO
Hørsholm, Denmark· Est.
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BAVA.CO · Stock Price

DKK 189.40+24.70 (+15.00%)
Market Cap: $2.3B

Historical price data

Market Cap: $2.3BPipeline: 66 drugs (18 Phase 3)Founded: 1997HQ: Hørsholm, Denmark

Overview

Bavarian Nordic's mission is to protect public health through innovative immunization strategies, establishing itself as a critical player with a dual-revenue model. The company has achieved significant commercial success with its travel health portfolio and solidified its public health role through long-standing government contracts for its non-replicating smallpox/mpox vaccine. Its strategy centers on leveraging its integrated capabilities and MVA platform to expand its commercial portfolio and respond to emerging infectious disease threats, driving sustainable growth.

Infectious DiseasePublic Health Preparedness

Technology Platform

Proprietary Modified Vaccinia Ankara (MVA) platform, a non-replicating viral vector system enabling safe and rapid development of vaccines against diverse infectious diseases.

Pipeline

66
66 drugs in pipeline18 in Phase 3
DrugIndicationStageWatch
IMVAMUNE®VaccinationApproved
VAXCHORA (Cholera Vaccine, Live, Oral)Cholera (Disorder)Approved
PROSTVAC-V + PROSTVAC-F + GM-CSF + PlaceboProstate Cancer MetastaticPhase 3
PXVX0200 + placeboCholeraPhase 3
MVA-BN standard regimen + MVA-BN standard regimen (Administe...NeonatePhase 3

Funding History

4
Total raised:$415M
PIPE$200M
Debt$75M
IPO$40M
Grant$100M

Opportunities

Significant growth potential lies in expanding the commercial travel health portfolio (e.g., Chikungunya vaccine) and penetrating the large RSV prophylaxis market.
The enduring need for biodefense and pandemic preparedness ensures sustained demand for the MVA platform from government partners.

Risk Factors

Revenue remains concentrated in government contracts for smallpox/mpox preparedness, creating dependency.
Late-stage pipeline candidates face intense competition and clinical trial execution risk in crowded markets like RSV.

Competitive Landscape

Competes with large vaccine multinationals (GSK, Sanofi) in travel health and with government contractors (Emergent BioSolutions) in biodefense. Its key competitive moat is the superior safety profile of its non-replicating MVA platform, making it the preferred choice for stockpiles and vulnerable populations.

Company Timeline

1997Founded

Founded in Hørsholm, Denmark

2003Grant

Grant: $100.0M

2006IPO

IPO — $40.0M

2022PIPE

PIPE: $200.0M