- Bavarian Nordic (BVNRY) plans to sell its smallpox vaccine to Canada.
- This is due to Canada preparing for a monkeypox outbreak.
- Other countries are also looking to buy the vaccine.
Bavarian Nordic (OTCMKTS:BVNRY) stock is rising higher on Tuesday after announcing a new deal with Canada to purchase one of its vaccines.
This contract covers the company’s IMVAMUNE smallpox vaccine. The vaccine is effective against non-replicating smallpox as well as approved for use against monkeypox.
The new purchasing contract with Canada is a multi-year deal and has a value of roughly $56 million. It’s also worth mentioning that the contract starts in 2023, which means it won’t affect Bavarian Nordic’s earnings for 2022.
Bavarian Nordic President and CEO Paul Chaplin had the following to say about the deal with Canada boosting BNVRY stock.
“We are pleased to extend our collaboration with the Government of Canada. We applaud the Government of Canada for their long-term planning, allowing us to execute on this contract in a timely manner.”
To go along with this news, Bavarian Nordic says it’s also making deals with other countries for the vaccine. This comes as many governments prepare to combat the recent outbreak of monkeypox cases.
BVNRY stock isn’t seeing heavy trading despite today’s news. As of this writing, around 14,000 shares of the stock have changed hands. That’s still below its daily average trading volume of 38,000 shares.
BVNRY stock is up 3.9% as of this writing on Tuesday morning.
Investors seeking out more stock market news are in the right place!
We’ve got all the hottest stock market news traders need to know about for Tuesday! This includes why Twitter (NYSE:TWTR) stock is down, what has Affirm Holdings (NASDAQ:AFRM) falling and this morning’s biggest pre-market stock movers. You can catch up on that news at the links below!
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On the date of publication, William White did not hold (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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