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Bavarian Nordic Announces its Interim Report for the Period 1 January to 31 March 2009
Date:4/28/2009

nts after the period

PROSTVAC(TM) data accepted for an oral presentation at the ASCO Annual Meeting

Professor Philip Kantoff, MD, Dana-Farber Cancer Institute, Harvard Medical School who is the principal investigator in the PROSTVAC(TM) study will present the Phase II results at the 2009 American Society of Clinical Oncology (ASCO) Annual Meeting in Orlando May 29 to June 2, 2009.

Anders Hedegaard, President & CEO of Bavarian Nordic said: "Bavarian Nordic recorded strong progress in the first quarter of 2009. We successfully held an end of Phase II meeting with the FDA on IMVAMUNE(R) and have essentially agreed a pathway for the licensure of the vaccine. Data from studies with our new prostate cancer vaccine, PROSTVAC(TM) were presented at a major international cancer symposium and we are pleased to see, that these data indicate that the vaccine can be used in an earlier disease setting. This broadens the market potential of the vaccine. We also got the acceptance from ASCO to present PROSTVAC(TM) at this year's annual meeting in May and we see this as a great recognition of the excellent potential of the vaccine."

Financial statement for the period (1 January - 31 March 2009, un-audited)

The comparison figures for the same period 2008 are stated in parenthesis.

The revenue totalled DKK 17 million (DKK 14 million). The revenue derives from sale under the RFP-2 contract with the US health authorities.

Production costs totalled DKK 41 million (DKK 32 million). The production costs are higher due to higher batch production at the Kvistgaard facility.

The Group's research and development costs totalled DKK 36 million (DKK 28 million) excluding development costs from the RFP-3 contract of DKK 10 million, of which DKK 8 million are capitalised as intangible assets under construction.

Sales costs totalled DKK 6 milli
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SOURCE Bavarian Nordic A/S
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