Bavarian Nordic Receives USD 25 Million Milestone Payment from the U.S. Government for Fulfilling Contract Milestones
As announced on 8 October 2007, Bavarian Nordic has already received an advance payment of USD 50 million. In addition to this and the current milestone payment, the company expects to receive an additional milestone payment of USD 25 million in 2007. The advance payment does not affect the previously announced guidance for the company's 2007 result.
Anders Hedegaard, President & CEO of Bavarian Nordic, said:" We are very satisfied that we have fulfilled another significant milestone as agreed with the U.S. Department of Health and Human Services. With the already received and future payments, we have created a solid financial base for our further development. "
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