Denmark-based vaccines company Bavarian Nordic A/S (CPH:BAVA) announced late Monday that the US Biomedical Advanced Research and Development Authority (BARDA) has exercised contract options worth USD97m for the production and supply of freeze-dried JYNNEOS smallpox vaccines.

The agreement covers manufacturing of additional vaccine bulk and supply of freeze-dried doses, including supplemental payments tied to an extended shelf-life for the vaccine.

The contract secures the remaining doses under the original order for 11.5 million doses, with deliveries scheduled for 2027.

Bavarian Nordic said most of the contract value relates to replacing vaccine bulk used for liquid-frozen doses supplied to BARDA during the 2022-2023 monkeypox outbreak. The vaccine bulk will be invoiced in 2026 and, together with other recent orders, increases secured Public Preparedness contracts for 2026 to approximately DKK2bn, up about DKK600m from prior guidance.

Bavarian Nordic has raised its 2026 Public Preparedness revenue forecast to DKK2.3bn-DKK2.5bn and now expects total annual revenue of DKK5.5bn-DKK5.7bn with an EBITDA margin of approximately 28%.

The freeze-dried formulation of JYNNEOS received FDA approval in March 2025 and is designed to improve transportation, storage conditions, and shelf life compared with the liquid-frozen version.