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Investing.com -- Shares in Bavarian Nordic (CSE:BAVA) surged sharply after the Denmark-based biotech company reported a strong jump in first-quarter revenues, driven by robust growth in both its Travel Health and Public Preparedness segments.
The company saw its Q1 revenue soar 62% year-on-year to DKK 1.34 billion, with Travel Health contributing DKK 680 million, up 52% year-over-year, supported by higher demand for rabies and tick-borne encephalitis (TBE) vaccines.
Public Preparedness revenue surged 83% to DKK 629 million, outperforming initial expectations due to the accelerated delivery of several large existing orders.
Other revenue totaled DKK 37 million.
Bavarian Nordic stock jumped around 13% in Copenhagen trading after the report.
“A very strong first quarter for our Travel Health business, demonstrating a 52% growth year-over-year and puts us ahead of our strategic goal of an average annual growth rate of 10-12% for this part of the business until 2027," said Paul Chaplin, President and CEO of Bavarian Nordic.
"We also recorded our first U.S. sales of the chikungunya vaccine after its approval in February and ahead of the April recommendation from ACIP. Our phased launch plan for the vaccine is progressing as planned with the first European markets coming online over the next couple of months while we also continue our efforts to expand the regulatory approvals to other territories."
EBITDA for the quarter came in at DKK 420 million, representing a 31% margin.
The company reaffirmed its full-year guidance, expecting revenue between DKK 5.7–6.7 billion and an EBITDA margin of 26–30%.