Bavarian Nordic's 2007 revenue reaches $70.6M

Bavarian Nordic, a Danish-based biopharmaceutical company, says that its revenue for full-year 2007 was 332.1 million kroner ($70.6 million) with a loss before tax of 50.5 million, which was in line with its guidance. The firm's full-year 2006 loss before tax reached 204.8 million kroner on earnings of 175.3 million kroner.

For 2008, Bavarian Nordic expects revenue in the region of 180.0 million kroner, and a pretax loss of about 225.0 million kroner as the first deliveries of vaccines for the US government under the RFP-3 contract are not expected to take place before 2009.

Among its 2007 highlights, the year saw BN win the RFP-3 contract from the US authorities after prolonged negotiations in which the company succeeded, as the first in the world, in obtaining advance and milestone payments under project the US government biodefense program BioShield. In addition to the base contract of $500.0 million for the delivery of 20 million doses of the company's third-generation smallpox vaccine, Imvamune, the contract includes an option contract of $1.1 billion for the delivery of an additional 60 million doses.