Welcome to our dedicated page for Emergent Biosolutions news (Ticker: EBS), a resource for investors and traders seeking the latest updates and insights on Emergent Biosolutions stock.
Emergent BioSolutions, Inc. (NYSE: EBS) is a global life sciences company dedicated to protecting and enhancing life. With a mission to secure public health, Emergent develops, manufactures, and distributes a broad portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. The company is committed to safeguarding lives and aims to protect and enhance 50 million lives with its products by 2025.
Headquartered in Gaithersburg, Maryland, Emergent operates through three primary segments: Commercial, Products, and Services. The Commercial segment, which generates the majority of the company's revenue, includes key products such as NARCAN® Nasal Spray—a life-saving medication for opioid overdoses. NARCAN® has become widely accessible in pharmacies, grocery stores, and online retailers, significantly increasing public availability since its over-the-counter approval by the FDA in March 2023.
Emergent is also known for its role in developing and manufacturing vaccines and therapeutics, particularly for governments and healthcare providers. The company's Baltimore Bayview manufacturing facility recently received a “No Action Indicated” status from the FDA, confirming its compliance with good manufacturing practices. This recognition underscores Emergent's dedication to quality and compliance in its manufacturing processes.
Financially, Emergent is focused on stabilizing its operations and strengthening its balance sheet. The recent restructuring plan aims to streamline operations, close certain manufacturing facilities, and reduce workforce by 300 employees, resulting in annualized savings of approximately $80 million. Despite these changes, Emergent remains dedicated to its core business areas and continues to offer integrated contract development and manufacturing services to pharmaceutical and biotechnology customers.
Key recent developments include the extension of NARCAN® Nasal Spray's shelf life from 36 to 48 months and its widespread distribution across the U.S. and Canada. Emergent is also actively working with partners like the National Safety Council to educate businesses and the public about opioid overdose prevention and response.
Emergent is committed to its long-term vision of protecting and enhancing 1 billion lives by 2030. The company continues to innovate and expand its product offerings while maintaining a strong focus on public health and safety.
Emergent BioSolutions (NYSE: EBS) announced a stock repurchase program authorized by its Board of Directors, allowing for the buyback of up to $250 million of its common stock. This initiative, set to expire on November 11, 2022, showcases the company's confidence in its financial stability and growth prospects. As of September 30, 2021, the company held $403.8 million in cash and equivalents, with approximately 53.7 million shares outstanding. The buyback will be executed based on market conditions and is intended to enhance shareholder value.
Emergent BioSolutions reported Q3 2021 financial results with total revenues of $329 million, a 15% decrease from Q3 2020. The net loss was $32.7 million, resulting in a net loss per diluted share of $0.61. Adjusted EBITDA was ($3.3 million). The company secured a $399 million contract modification for AV7909 and initiated a pivotal Phase 3 study for its chikungunya vaccine. A multi-year agreement with Providence Therapeutics is valued at $90 million.
The forecast for 2021 is updated to $1.7 - $1.8 billion in total revenues.
Emergent BioSolutions (NYSE: EBS) will host a conference call on November 4, 2021, at 5:00 PM ET to discuss Q3 2021 financial results, recent developments, and the full-year outlook. Interested parties can join via telephone or webcast. The call will provide insights into the company's financial performance and strategic direction as it aims to enhance public health. For more details, visit the Emergent website.
Emergent BioSolutions (NYSE:EBS) announced the first participant dosed in its pivotal phase 3 study for the CHIKV VLP vaccine, targeting chikungunya disease. This single-dose vaccine candidate is the only VLP-based option in clinical testing. The study aims to enroll over 3,150 participants across 49 U.S. sites, focusing on its safety and immune response. Previous phase 2 results indicated strong immunogenicity and a favorable safety profile. Regulatory agencies have granted the vaccine several designations to expedite its development, addressing an unmet medical need.
Shuman, Glenn & Stecker is investigating potential claims against Emergent BioSolutions (EBS) related to a securities class action lawsuit. The lawsuit alleges that Emergent's executives misrepresented the company's ability to produce COVID-19 vaccines, specifically those of Johnson & Johnson and AstraZeneca, at its Baltimore facility. Following FDA inspections revealing significant operational issues and contamination incidents, Emergent's stock fell over 15% in early April 2021 and has since dropped to around $55 per share, failing to recover.
Emergent BioSolutions (NYSE:EBS) and Providence Therapeutics have established a five-year agreement valued at approximately $90 million for contract development and manufacturing services to support the development of Providence’s COVID-19 mRNA vaccine, PTX-COVID19-B.
This collaboration will enable Emergent to manufacture tens of millions of doses in 2022, with potential for hundreds of millions more. The manufacturing will utilize Emergent’s cGMP facility in Winnipeg, Canada, underscoring their commitment to addressing global public health needs.
Emergent BioSolutions has announced the start of a Phase 3 clinical trial for its COVID-19 Human Immune Globulin (COVID-HIG) to assess its efficacy and safety as a treatment for high-risk adult patients. Sponsored by NIAID, the study aims to enroll about 800 patients and examines the effects of hyperimmune globulin products on combating COVID-19 progression. The trial, named OTAC, will compare COVID-HIG infusions against a placebo, focusing on improving patient outcomes and reducing severe illness risks, particularly for immunocompromised individuals and older adults.
Emergent BioSolutions (NYSE: EBS) will attend several key investor conferences, including the IDEAS Midwest Conference (Aug 25-26) and the Wells Fargo Virtual Healthcare Conference (Sept 9-10). Key activities include pre-recorded presentations and 1-on-1 meetings. The company aims to discuss recent developments and financial guidance during these events. Emergent BioSolutions focuses on protecting public health and plans to enhance the lives of 1 billion people by 2030. For further details, visit their website.
Emergent BioSolutions Inc. (NYSE: EBS) reported Q2 2021 financial results, reaffirming its 2021 revenue forecast of $1.7 - $1.9 billion. Total revenues for Q2 were $397.5 million, a slight increase of 1% YoY, while net income plummeted 95% to $4.6 million. The company resumed production of Johnson & Johnson’s COVID-19 vaccine after FDA approval and secured contracts with U.S. and Canadian governments valued at over $238 million. Adjusted EBITDA declined 68% to $49.5 million, reflecting higher costs and inventory write-offs. The company anticipates Q3 revenues between $400 million and $500 million.
Emergent BioSolutions (NYSE:EBS) announced the resumption of production at its Bayview facility for Johnson & Johnson's Covid-19 vaccine bulk drug substance, following FDA reviews and a quality enhancement plan. CEO Robert Kramer highlighted this as a critical milestone in addressing public health threats. The company committed extensive resources to meet FDA standards and aims to ensure a strong supply chain for the vaccine. Emergent positions itself as a vital partner in epidemic preparedness and expresses gratitude towards government and industry collaborators.
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