Short-sellers target Bavarian Nordic and its cancer vaccine candidate

As it works to bring its prostate cancer vaccine Prostvac to market and expand its smallpox vaccine business, Danish vaccine maker Bavarian Nordic encountered a new set of challenges this week. Despite a billion-dollar partnership with Bristol-Myers Squibb ($BMY), it's the target of a short-selling campaign. New York City-based hedge fund Kerrisdale Capital initiated its crusade against the Danish company and publicly predicted Bavarian Nordic's prostate cancer vaccine candidate will fail its ongoing Phase III trial. The fund's manager, Sahm Adrangi, said a "misleading statistical fluke" in previous trials will lead to the vaccine's troubles, adding that cancer vaccines have seen two decades of "unmitigated failure" and the fund expects "nothing different from Bavarian Nordic." More from FierceVaccines

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