Bavarian Nordic seeks cash injection from Nasdaq listing

Bavarian Nordic is aiming to raise $86 million to develop cancer and respiratory virus drugs by floating on New York’s Nasdaq.

While pricing is to be determined, the likely timing of the proposed Initial Public Offering (IPO) represents an attractive entry point for US investors ahead of a newsflow-rich 2016, say analysts at Edison Investment Research. And, as a well-funded revenue generating company, it should still appeal to investors despite market headwinds, they add.

Bavarian Nordic said the proposed Nasdaq listing was a strategic move to broaden its appeal to US investors and raise additional funds to accelerate clinical development of multi-tumor cancer immunotherapy CV-301 and respiratory syncytial virus vaccine MVA-BN RSV and to expand its manufacturing capacity.