KVISTGAARD, Denmark, November 17, 2014 - Pursuant to Section § 28a of the Danish Act on Securities Trading, Bavarian Nordic A/S reports the following transactions of shares and related securities of Bavarian Nordic A/S by persons holding managerial responsibilities and/or persons/companies closely associated with such.
| Name | Claus Bræstrup |
| Reason for transaction | Member of the Board of Directors of Bavarian Nordic A/S |
| Issuer | Bavarian Nordic A/S |
| ID code/ISIN | DK0015998017 |
| Description | Shares |
| Transaction | Sale |
| Trading date | 13 November 2014 |
| Market | NASDAQ Copenhagen |
| Number | 5,615 |
| Market value (DKK) | 1,047,427.50 |
| Name | Claus Bræstrup |
| Reason for transaction | Member of the Board of Directors of Bavarian Nordic A/S |
| Issuer | Bavarian Nordic A/S |
| ID code/ISIN | DK0015998017 |
| Description | Shares |
| Transaction | Subscription (exercise of warrants) |
| Trading date | 14 November 2014 |
| Market | NASDAQ Copenhagen |
| Number | 5,000 |
| Market value (DKK) | 270,500.00 |
About Bavarian Nordic
Bavarian Nordic is an international biotechnology company developing and manufacturing novel cancer immunotherapies and vaccines for infectious diseases. Lead product candidates are PROSTVAC®, an immunotherapy product candidate for advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 clinical trial, and IMVAMUNE®, a non-replicating smallpox vaccine candidate in Phase 3 development, which is being developed and supplied for emergency use to the U.S. Strategic National Stockpile under a contract with the U.S. Government. The vaccine is approved in Canada under the trade name IMVAMUNE and in the European Union under the trade name IMVANEX®. Bavarian Nordic's shares are listed on NASDAQ OMX Copenhagen under the symbol BAVA (Reuters: BAVA.CO, Bloomberg: BAVA.DC). The company has a sponsored Level 1 ADR program listed in the US (OTC) under the symbol BVNRY. For more information, visit www.bavarian-nordic.com.
Contacts
Rolf Sass Sørensen, Vice President Investor Relations (EU). Phone +45 61 77 47 43
Seth Lewis, Vice President Investor Relations (US). Phone + 1 978-298-5654
