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 (EBS) has received a $23 million increase in its task order from HHS for additional biologics manufacturing equipment. This funding is aimed at supporting Johnson & Johnson’s COVID-19 vaccine production, specifically enhancing manufacturing capabilities at the Baltimore Bayview facility.
The company reaffirms its 2021 financial guidance and reports no changes to its manufacturing agreements related to COVID-19 vaccines. Emergent is committed to strengthening the supply chain for Johnson & Johnson’s vaccine, with an annual production capacity exceeding one billion doses.
Emergent BioSolutions (NYSE:EBS) announced an update on its investigational COVID-HIG therapy following disappointing results from the Phase 3 ITAC trial. The trial revealed that the addition of COVID-HIG to standard care did not confer clinical benefits for hospitalized COVID-19 patients with symptoms for less than 12 days. Despite this setback, Emergent emphasized the importance of earlier interventions and plans to explore COVID-HIG further in ongoing trials. The government-backed initiative has gathered data from nearly 600 patients across 63 sites globally, with no serious safety concerns identified.
Emergent BioSolutions (NYSE: EBS) will participate in several upcoming investor conferences, showcasing its commitment to growth and communication with stakeholders. Key dates include:
- Jefferies Inaugural Global Plasma Summit on March 11, 2021, at 12:50 PM EST.
- KeyBanc Life Sciences & MedTech Investor Forum on March 24, 2021, at 1:15 PM EST.
- Chardan 4th Annual Manufacturing Summit on April 26-27, 2021, with updated details on the Emergent website.
- Truist 7th Annual Life Sciences Summit on May 4-5, 2021, with presentation details to be announced.
These events will likely discuss recent developments and financial guidance.
Emergent BioSolutions reported exceptional financial results for Q4 and full year 2020, with total revenues of $583.0 million for Q4, up 62% year-on-year, and $1,555.4 million for the full year, a 41% increase. Net income for Q4 surged to $185.4 million, improving net income per diluted share to $3.44. The company reaffirmed its 2021 revenue forecast of $1,950 - $2,050 million, citing robust CDMO services and product sales growth, particularly in response to COVID-19. Notable initiatives included expanding manufacturing capacity and signing new agreements for drug product manufacturing.
Emergent BioSolutions (NYSE: EBS) will host a conference call on February 18, 2021 at 5:00 PM ET to discuss Q4 2020 financial results, recent business developments, and 2021 revenue guidance. Investors can access the call via phone at (855) 766-6521 (toll-free) or via webcast at this link. A replay will be available on the Emergent website post-call. The company aims to enhance public health and protect lives through its products and services.
Emergent BioSolutions and Humanigen have entered into a contract development and manufacturing (CDMO) agreement to accelerate production of lenzilumab, an antibody aimed at treating COVID-19 related cytokine storms. The deal leverages manufacturing capacity reserved by the U.S. government through the Department of Defense and aims for an emergency use authorization (EUA) in Q1 2021. Emergent's advanced facilities in Baltimore will support increased production, forming a key part of Humanigen's growth strategy.
Emergent BioSolutions (NYSE: EBS) announced participation in key investor conferences for Q1 2021. These include:
- 39th Annual J.P. Morgan Healthcare Conference from January 11-14, 2021, with a presentation on January 11 at 8:20 am EST.
- J.P. Morgan 2021 Global High Yield & Leveraged Finance Conference on March 1-3, 2021, with details to be updated on their website.
- Cowen 41st Annual Health Care Conference from March 1-4, 2021, also pending updates.
Webcasts will cover recent developments and financial results.
Emergent BioSolutions (EBS) and Mount Sinai Health System have initiated a clinical program to evaluate COVID-HIG for post-exposure prophylaxis against SARS-CoV-2. Two Phase 1 studies will assess safety and pharmacokinetics in healthy adults and adults with mild COVID-19. The U.S. Department of Defense has provided $34.6 million in funding, alongside a prior $14.5 million grant from HHS. The partnership aims to protect high-risk individuals, such as healthcare workers, by leveraging Mount Sinai's plasma collection capabilities, although COVID-HIG is not yet FDA-approved.
Emergent BioSolutions (EBS) reported strong Q3 2020 results with total revenues of $385.2 million, up 24% from Q3 2019. Year-to-date revenues reached $972.4 million, a 30% increase. Adjusted net income rose to $119.0 million, or $2.19 per diluted share in Q3. The company refined its 2020 financial forecast, projecting total revenues between $1.52 - $1.58 billion and adjusted net income between $375 - $405 million.
Despite strong performance, product sales declined 21% due to lower sales of travel health vaccines.
Emergent BioSolutions (EBS) will host a conference call on November 5, 2020, at 5:00 PM ET, to discuss Q3 2020 financial results, recent business developments, and revenue guidance for Q4 2020 and full year 2020. The call can be accessed via telephone or live webcast. Details including dial-in numbers and conference ID are provided in the release. The company aims to enhance life through specialty products and services, aspiring to protect or enhance 1 billion lives by 2030.
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