Bavarian Nordic planning offering

Bavarian Nordic A/S (CSE:BAVA) plans to raise DKK250-DKK300 million ($50.5-$60.6 million) through a rights issue. The offering is expected to close in early 2010. Nordea Markets and SEB Enskilda are financial advisors.

Bavarian Nordic has a contract to supply 20 million doses of its Imvamune smallpox vaccine to the U.S.'s Strategic National Stockpile. The company plans to start delivering the third-generation Modified Vaccinia Ankara (MVA) virus vaccine before the end of next half, once delivery allowance is granted in the U.S. (See BioCentury Extra, Monday, June 04, 2007). ...