- 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.
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. This is a vaccine effective against non-replicating smallpox and is also approved for use against monkeypox as well.
The new purchasing contract with Canada is a multi-year one and has a value of roughly $56 million. It’s worth mentioning that the contract starts in 2023, which means it won’t affect BVNRY’s earnings for 2022.
Paul Chaplin, president and CEO of Bavarian Nordic, had this 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.”
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To go along with this news, Bavarian Nordic notes it’s also making deals with other countries for the vaccine. This comes as countries prepare to combat the current outbreak of monkeypox.
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 Tuesday morning.
Investors seeking out more stock market news are in the right place!
We’ve got all the hottest stock market news traders need to know about for Tuesday! Among that is why Twitter (NYSE:TWTR) stock is down, what has Affirm Holdings (NASDAQ:AFRM) falling, as well as this morning’s biggest pre-market stock movers. You can catch up on that news at the links below!
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