Bavarian slumps as Q1 disappoints

AL Sydbank A/S

08/05/2024 09:29

** Shares in Danish biotech firm Bavarian Nordic  BAVA.CO 
fall 8% after it delivered Q1 print below market expectations
    ** "Numbers somewhat disappointing," Nordnet analyst Per
Hansen says
    ** Bavarian's first-quarter revenue came in at DKK 831
million, below the DKK 1,102 million expected by analysts polled
by LSEG and DKK 850 million forecast by Sydbank
        ** Kempen notes that revenues from public preparedness
dropped after a peak year of mpox outbreak
    ** Bavarian posted revenues from public preparedness down
59% at DKK 344 million versus Sydbank expectation of DKK 410
million
    ** It kept 2024 guidance unchanged with revenue of DKK
5,000-5,300 million and EBITDA of DKK 1,100-1,350 million
    ** Bavarian share is down 12% year-to-date

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))