Bavarian Nordic (BVNRY) Stock Gets a Boost From New Canadian Contract

  • 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.
A nurse cleans a patients are with a cotton ball after administering a flu shot representing BVNRY stock.

Source: 89stocker / Shutterstock

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.

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