Bavarian Nordic A/S - Interim Report for the period 1 January to 31 March 2012
(Thomson Reuters ONE) -
KVISTGAARD, Denmark, May 22, 2012 - Bavarian Nordic A/S (OMX: BAVA) today
publishes its first quarter 2012 results, showing a DKK 100 million improvement
in income before tax compared to 2011. Bavarian Nordic generated revenue of DKK
168 million (2011: DKK 29 million) and recorded a loss before tax of DKK 35
million (2011: DKK 135 million loss). As of 31 March 2012 the cash preparedness
was DKK 649 million, including credit lines of DKK 120 million. The company
maintains its full-year expectations with revenues in the level of DKK 850
million, and a pre-tax loss in the level of DKK 200 million. The cash
preparedness at year-end is expected to be in the level of DKK 350 million.
Significant achievements in the first quarter and up to the reporting date
* First quarter income before tax improved by DKK 100 million compared to
first quarter 2011. The infectious disease division is profitable
* IMVAMUNE® deliveries to the U.S. Strategic National Stockpile on track with
2.6 million doses delivered in 2012 to-date
* Significant improvements in the IMVAMUNE® manufacturing productivity
* Marketing application for IMVANEX® (IMVAMUNE®) submitted to the European
Medicines Agency
* Phase 1 study combining PROSTVAC® and ipilimumab immunotherapies reported,
indicating potential synergy from combining treatments
* RFP-3 contract modifications increases total contract value with USD 32
million. The contract period has been extended to 2017
* Warrants awarded to certain employees
Anders Hedegaard, President & CEO commented on the interim report: "We are
pleased to report very strong performance in our infectious disease division
with the manufacturing of IMVAMUNE® smallpox vaccines going very well. In our
aim to improve the divisions' profitability, we have succeeded in increasing the
productivity significantly due to a continued focus on optimization of resources
and processes. In our cancer vaccine division, we continue to open new clinical
trial sites for the PROSTVAC® Phase 3 trial and the recruitment of patients is
proceeding according to plan."
Selected, upcoming milestones
* Deliver seven million doses IMVAMUNE® to the U.S. Strategic National
Stockpile (2012)
* Phase 2 data for CV-301 in breast cancer (H2, 2012)
* Initiate Phase 3 trial of IMVAMUNE® (H2, 2012)
* Initiate Phase 2 study for the freeze-dried IMVAMUNE® (H1, 2013)
* Approval of MAA in Canada for IMVAMUNE® (H1, 2013)
* Approval of MAA in EU for IMVANEX® (2013)
Contact
Anders Hedegaard, President & CEO. Phone +45 23 20 30 64
Conference call
The Company will host a conference call today at 2 pm CET (8 am EST). President
and CEO, Anders Hedegaard will present the first quarter results. The
accompanying presentation is available on the company's website: www.bavarian-
nordic.com/q1. Additional participants from Bavarian Nordic are Paul Chaplin,
Executive Vice President and Division President Infectious Diseases, Ole Larsen,
CFO and Rolf Sass Sørensen, Vice President Investor Relations. Dial-in numbers
for the conference calls are: UK: +44 (0)207 1620 177. USA: +1 334 323 6203.
The participant code is 916860. For additional countries and further details
please visit www.bavarian-nordic.com/q1.
About Bavarian Nordic
Bavarian Nordic is a vaccine-focused biotechnology company developing and
producing novel vaccines for the treatment and prevention of life-threatening
diseases with a large unmet medical need. The company's pipeline targets cancer
and infectious diseases, and includes ten development programs. In oncology, the
company's lead program is PROSTVAC®, a therapeutic vaccine candidate for
advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 trial
and is being developed under a collaboration agreement with the National Cancer
Institute. In clinical Phase 1 and Phase 2 trials, PROSTVAC® has been tested in
nearly 600 patients. In infectious diseases, the company's lead program is
IMVAMUNE®, a third-generation smallpox vaccine candidate that is being developed
and supplied for emergency use to the U.S. Strategic National Stockpile under a
contract with the U.S. Government. For more information, visit www.bavarian-
nordic.com
Forward-looking statements
This announcement includes "forward-looking statements" that involve risks,
uncertainties and other factors, many of which are outside of our control that
could cause actual results to differ materially from the results discussed in
the forward-looking statements. Forward-looking statements include statements
concerning our plans, objectives, goals, future events, performance and/or other
information that is not historical information. We undertake no obligation to
publicly update or revise forward-looking statements to reflect subsequent
events or circumstances after the date made, except as required by law.
Q12012InterimReport:
http://hugin.info/100065/R/1613766/513976.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Bavarian Nordic A/S via Thomson Reuters ONE
[HUG#1613766]
Unternehmensinformation / Kurzprofil:
Datum: 22.05.2012 - 08:01 Uhr
Sprache: Deutsch
News-ID 148674
Anzahl Zeichen: 6023
contact information:
Town:
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Kategorie:
Business News
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