Companies focused on monkeypox vaccines and therapeutics gained in the pre-market Monday after the Danish biotech Bavarian Nordic ( OTCPK:BVNKF ) ( OTCPK:BVNRY ) ( BAVN ) increased its 2022 financial guidance to reflect the recent supply contracts for its monkeypox vaccine, Jynneos.
Without disclosing the terms of the agreements, the company said: “the sum of these orders together with orders close to signature will significantly impact the Company’s financial guidance for 2022.”
Notable gainers in the early trading include the developers of oral monkeypox therapeutics, SIGA Technologies ( SIGA ), GeoVax Labs ( GOVX ) and Tonix Pharmaceuticals ( TNXP )
Emergent BioSolutions ( EBS ) and Chimerix ( CMRX ), the U.S.-based vaccine developers for the related smallpox virus are also trading higher.
Meanwhile, the European Commission said Monday that it secured about 54,000 additional doses of Bavarian Nordic’s ( OTCPK:BVNKF ) monkeypox vaccine, adding to an initial deal for about 110,000 doses of the vaccine.
In light of the recent vaccine orders, Bavarian Nordic ( OTCPK:BVNKF ) has upgraded its 2022 revenue guidance to DKK 2,700M – 2,900M (up from DKK 2,300M – 2,500M) and increased EBITDA forecast to a loss of DKK 100M – DKK 300M (previously DKK 400M 600M).
In addition, the company’s cash position is expected to surpass DKK 1,700M (compared to DKK 1,700M – 1,900M previously).
“With the recent upgrades of our financial guidance we have significantly improved our cash position and we are now even approaching a break-even EBITDA for 2022,” Chief Executive Paul Chaplin noted.
Last week, Bavarian Nordic ( OTCPK:BVNKF ) announced that the U.S. ordered additional 2.5M doses of monkeypox vaccine, expanding the previous contracts for about 3.0M doses.
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Bavarian Nordic sends monkeypox plays higher after raising 2022 guidance