Bavarian Nordic Issues Revised Financial Calendar for 2013

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| Source: Bavarian Nordic A/S
KVISTGAARD, Denmark, December 21, 2012 - Bavarian Nordic A/S (OMX: BAVA)
announced today a revised financial calendar for the year 2013. The company has
moved the announcement of the 2012 Annual Report from 7 March 2013 to 12 March
2013.

 12 March 2013    2012 Annual Report

 17 April 2013    Annual General Meeting

 16 May 2013      First quarterly report (Q1) for the three-month period ended
                  31 March 2013

 22 August 2013   Half-year report (Q2) for the six-month period ended 30 June
                  2013

 14 November 2013 Third quarterly report (Q3) for the nine-month period ended
                  30 September 2013


Pursuant to Article 12 of the Articles of Association, shareholders who wish to
submit a request for proposals for consideration at the Annual General Meeting
must lodge this with the Company no later than Thursday, March 7, 2013.

Moreover, it should be noted that Bavarian Nordic in a period of two weeks
before planned publication of quarterly reports (silent periods), will not
comment specifically on developments or financial issues and expectations. The
dates for silent periods will be published on the company's website:
www.bavarian-nordic.com/investor.


Asger Aamund
Chairman of the Board

Contact
Anders Hedegaard, President & CEO. Phone +45 23 20 30 64

About Bavarian Nordic
Bavarian Nordic is a vaccine-focused biotechnology company developing and
producing novel vaccines for the treatment and prevention of life-threatening
diseases with a large unmet medical need. The company's pipeline targets cancer
and infectious diseases, and includes ten development programs. In oncology, the
company's lead program is PROSTVAC®, a therapeutic vaccine candidate for
advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 trial
and is being developed under a collaboration agreement with the National Cancer
Institute. In clinical Phase 1 and Phase 2 trials, PROSTVAC® has been tested in
nearly 600 patients. In infectious diseases, the company's lead program is
IMVAMUNE®, a non-replicating smallpox vaccine candidate that is being developed
and supplied for emergency use to the U.S. Strategic National Stockpile under a
contract with the U.S. Government. For more information, visit www.bavarian-
nordic.com

Forward-looking statements
This announcement includes "forward-looking statements" that involve risks,
uncertainties and other factors, many of which are outside of our control that
could cause actual results to differ materially from the results discussed in
the forward-looking statements. Forward-looking statements include statements
concerning our plans, objectives, goals, future events, performance and/or other
information that is not historical information. We undertake no obligation to
publicly update or revise forward-looking statements to reflect subsequent
events or circumstances after the date made, except as required by law.

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