Bavarian Nordic Announces its Interim Report for the Period 1 January to 31 ...( KVISTGAARD Denmark April 28 /- .....)

KVISTGAARD, Denmark, April 28 /PRNewswire-FirstCall/ --

Yesterday Bavarian Nordic Announced its Interim Results for the First Quarter of 2009

- Positive Developments in the Biodefence and Cancer Business Areas

- End of Phase II Meeting Lays Down Pathway for the Licensure of IMVAMUNE(R)

- Preparations for the Delivery of IMVAMUNE(R) to the USA are Progressing According to Plan

- PROSTVAC(TM) Data Have Been Accepted for an Oral Presentation at the ASCO Annual Meeting

In the first quarter of 2009 Bavarian Nordic generated revenue of DKK 17 million and recorded a loss before tax of DKK 83 million. The expectations for the financial result for the full year 2009 are maintained at revenues in the region of DKK 375 million, and a pre-tax loss in the region of DKK 225 million. As of 31 March 2009 the Group's net free liquidity was DKK 627 million.

Highlights from the period

IMVAMUNE(R) - end-of-Phase II meeting held with the FDA

After concluding the Phase II development of IMVAMUNE(R), Bavarian Nordic held an end-of-Phase-II meeting with the US health authorities (FDA) in the beginning of 2009 in order to discuss the Phase III study design. Based on the meeting, Phase III studies are expected to be initiated in 2010.

PROSTVAC(TM) data presented at international cancer symposium

In February 2009, data on PROSTVAC(TM) were presented at the international cancer congress, 2009 Genitourinary Cancers Symposium in Orlando, Florida. The data from three different studies once again confirm the excellent safety and efficacy results previously reported, and they support the further investigation of the vaccine in patients suffering from advanced prostate cancer. The data also indicates that PROSTVAC(TM) may be used in earlier disease settings and thus in a larger patient group.

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