Bavarian Nordic falls as high costs, lower vaccine sales hit Q1 results

Bavarian Nordic A/S

13/05/2026 08:14

** Shares in Bavarian Nordic BAVA.CO fall 4.5% after the Danish vaccine maker reported lower-than-expected Q1 results

** Its revenue was 1.06 billion Danish crowns ($166 million), just under the 1.13 billion expected in a company-provided poll

** Higher production costs and lower contribution from Bavarian's high margin mpox vaccines resulted in Q1 EBITDA of DKK 165 million, short of DKK 277 million seen by consensus, says Jefferies

** But Monday's guidance hike suggests investors should overlook the results that ware largely driven by phasing, the broker says

** Bavarian raised its 2026 forecast due to the U.S. government exercising an additional option for its smallpox vaccine

 ** Shares erase YTD gains and are among bottom movers on STOXX 600 .STOXX index

($1 = 6.3675 Danish crowns)

(Reporting by Vera Dvorakova)

((vera.dvorakova@thomsonreuters.com))