Bavarian Nordic is turning to Nasdaq to bankroll the advance of its pipeline of infectious disease and cancer vaccines. The decision follows a breakout two-year period for the long-running company, in which alliances with Bristol-Myers Squibb and Johnson & Johnson raised investor expectations for its pipeline products.
Looking to raise more than $86 million, Danish vaccinemaker Bavarian Nordic filed for a Nasdaq IPO this week on the heels of a busy 2015.
Nasdaq started off 2016 by stumbling out of the gate on Monday, taking a nasty hit along with the other major stock indexes as jitters about the Chinese market rattled investors once again. But 6 different biotechs shrugged off the chill that has afflicted industry stocks for months and filed IPOs which are collectively looking to raise hundreds of millions of dollars in the new year.
Building on a relationship struck last fall, Bavarian Nordic and Johnson & Johnson's Janssen unit inked a deal on Friday potentially worth $171 million plus milestones aimed at the development of a therapeutic HPV vaccine.
Bavarian Nordic makes most of its money from its smallpox business, but it is working to expand its reach with moves in the cancer vaccine arena. Toward that end, the Danish company announced on Tuesday the results from a National Cancer Institute-sponsored Phase I study of its new cancer vaccine candidate, MVA-BN Brachyury.
Just three weeks after it struck up a $28.5 million government partnership to advance its Ebola vaccine, Johnson & Johnson announced on Friday that it is starting a safety and immunogenicity trial in Sierra Leone for its Ebola candidate.
Johnson & Johnson's Janssen struck a four-year, $28.5 million government partnership to further the development of the Ebola jab on which Janssen is collaborating with Bavarian Nordic. Janssen awarded Bavarian Nordic $9 million in a subcontract, the latter announced Tuesday.
Things are heating up in the race for a respiratory syncytial virus (RSV) vaccine.Novavax reported Phase II results for its investigational vaccine just a week ago, and now, Danish biotech Bavarian Nordic is starting a Phase I trial of its candidate.
Kerrisdale Capital is maintaining the pressure on Bavarian Nordic. Having precipitated a 13% drop in the stock of Bavarian Nordic in the 10 days since it unveiled its short thesis, the hedge fund is now holding a follow-up call to expand on its theory that the Danish drugmaker is a busted flush.
As it works to bring its prostate cancer vaccine Prostvac to market and expand its smallpox vaccine business, Danish vaccine maker Bavarian Nordic this week encountered a new set of challenges. It's the target of a short-selling campaign.