On Monday, Bavarian Nordic released its accounts for the first three months of 2022, and took the opportunity to state it is maintaining its full-year guidance.
The company therefore still expects a revenue in the range of DKK 1.1-1.4bn (USD 160-200m), and a negative EBITDA (earnings before interest, taxes, depreciation and amortizations) result between DKK 1-1.3bn (USD 140-180m). Bavarian Nordic expects its cash position and liquidity to total DKK 1bn-1.2bn (USD 140-170m) at the end of the year.
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In 2015, Genmab partnered with relatively unknown biotech firm Biontech. Reflecting on how far Genmab has come since, CEO Jan van de Winkel is still confident that partnerships, rather than acquisitions, are the way forward. If it had acquired Biontech at the time, the CEO speculates Genmab may have put a stop to other activities – including the Covid-19 vaccine efforts that went on to save millions of lives. This and fairness are worth remembering as biotech firms are increasingly strapped for cash, van de Winkel reflects.