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Source: angellodeco / Shutterstock.comBavarian Nordic (OTCMKTS:BVNRY) stock is on the move Wednesday after the vaccine company signed a supply agreement with PAHO.
That supply agreement is for its monkeypox vaccine and will have it supply doses to countries in Latin America and the Caribbean. The company says it intends to start delivering the vaccines in September.
Bavarian Nordic also notes that this agreement won’t have an effect on its guidance for the full year of 2022. The company says the order was already taken into account when it updated its outlook in July.
PAHO is funding its acquisition of the monkeypox vaccine through its Revolving Fund for Access to Vaccines. This is a program created over 40 years ago to support national immunization efforts. It relies on pooling resources from PAHO members to achieve this.
BVNRY Intends to Increase Vaccine Manufacturing
Paul Chaplin, president and CEO of Bavarian Nordic, said the following in a press release.
“With the agreement, we have now helped to secure access to our vaccine in more than 70 countries globally, representing the vast majority of affected regions outside endemic areas. While the global supply is currently limited, we are working diligently to increase our manufacturing capacity and have taken steps to partner with other companies to rapidly produce more vaccines to help combat the outbreak.”
BVNRY stock is up 4% as of Wednesday morning.
Investors looking for more stock market news are in the right place!
We’ve got all the hottest stock news traders need to know about for Wednesday! Among that is what has shares of Starbox Group Holdings (NASDAQ:STBX), Nordstrom (NYSE:JWN), and Bed Bath & Beyond (NASDAQ:BBBY) on the move today. You can get all the details on these stocks at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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