Bavarian Nordic A/S (BVNKF,BAVA.CO), a vaccine company, announced that the U.S. Biomedical Advanced Research and Development Authority (BARDA) has exercised option worth $97 million in the current contract to supply freeze-dried doses of its JYNNEOS smallpox vaccine. The formulation was approved by the FDA in March 2025.

JYNNEOS is a non-replicating smallpox vaccine approved in 2019 and has been supplied to the U.S. government since 2010.

The options secure the remaining doses under an original order for 11.5 million doses. The freeze-dried vaccine will be manufactured and delivered in 2027, while the bulk vaccine will be invoiced in 2026.

Bavarian Nordic said the bulk order replaces vaccine used for liquid-frozen doses supplied to BARDA during 2022-2023 monkeypox outbreak. The options also include supplemental payments triggered by demonstration of extended shelf-life.

Following the order and other minor contracts, the Danish vaccine maker raised its 2026 guidance. It now expects total revenue of 5.5 billion to 5.7 billion Danish kroner, up from 5.0 billion to 5.2 billion kroner guided previously.

Revenue for its Public Preparedness business is forecast at 2.3 billion kroner to 2.5 billion kroner in 2026, an increase of about 600 million kroner from prior expectations.

The company expects an EBITDA margin of about 28 percent, compared with 25 percent previously.

CEO Paul Chaplin called the order a "significant milestone" in the company's partnership with the U.S. Government, noting the freeze-dried formulation improves storage and transport logistics.

On the Copenhagen Stock Exchange, shares of Bavarian Nordic closed Monday's trading 2.58 percent higher at 194.60 Danish kroner.

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