- (PLX AI) - Bavarian Nordic Commits to Initiating Phase 3 Trial of RSV Vaccine Candidate and to Strengthening its Capital Base.
- • Says total estimated cost of the study is approximately USD 250 million, will be financed with equity raise of up to 10% of its share capital
- • Bavarian Nordic EBITDA expectations for 2021 slightly lowered, as Phase 3 preparations are now being intensified for the RSV vaccine
- • With the decision to initiate the Phase 3 trial in 2022, Bavarian Nordic will incur additional costs of approximately DKK 30 million already in 2021 and hence is adjusting the expected EBITDA guidance correspondingly to approximately DKK 70 million
- • The guided year-end cash position remains unchanged and excludes any potential proceeds from a capital raise
- • There is a significant unmet need for an RSV vaccine, as the number of RSV-induced infections are very similar to influenza and lead to an estimated 177,525 hospitalizations and 14,000 deaths annually in adults 65 years and older alone in the United States, Bavarian said
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