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Bavarian Nordic’s Monkeypox Shot Is Making It a Hot Stock Again
Jonas Ekblom and Christian Wienberg
Fri, 17 June 2022 at 4:06 am
(Bloomberg) -- Bavarian Nordic A/S is having a bit of a meme-stock moment, with retail traders buying up shares in the monkeypox vaccine maker as cases of the virus steadily rise.
Shares in the Danish biotech, which makes the only monkeypox vaccine approved by the US Food and Drug Administration, have gained 69% since hitting a low in early May. At the same time, cases of the virus have jumped from just a handful in Europe at the start of last month to more than 1,200 cases, mostly in men, across the region, as well as in the Americas, the Middle East, and Australia by early June.
Bavarian Nordic got about 39% of its total revenues in 2021 from the Jynneos vaccine, which is approved for smallpox and monkeypox in the US and Canada and for smallpox in Europe. And the company’s Chief Financial Officer Henrik Juuel said earlier this month that interest from various governments in buying the shot “has been overwhelming.”
Investors are taking notice...