NightHawk Biosciences Commences Work on Multi-Million-Dollar Development and Manufacturing Agreement For a Leading National University

Rhea-AI Summary

NightHawk Biosciences (NHWK) announced that its subsidiary, Scorpius BioManufacturing, has begun work on a multi-million dollar contract awarded by a leading university to develop and manufacture a novel biologic targeting substance use disorder, including drug, alcohol, and opioid addiction. The CEO, Jeff Wolf, expressed excitement about the traction and growing pipeline within Scorpius, highlighting the company's expertise and dedication to customer service.

Insights

Market Research Analyst

The announcement by NightHawk Biosciences that its subsidiary Scorpius BioManufacturing has secured a multi-million dollar contract to develop and manufacture a novel biologic for substance use disorder represents a significant development for the company. This contract aligns with the growing trend in the biopharmaceutical industry to outsource development and manufacturing to specialized CDMOs. The impact on NightHawk's business could be substantial, considering the high cost of substance abuse to the healthcare system and the potential market for effective treatments. The company's focus on large molecule expertise and their recent expansion suggest a strategic positioning to capture more market share in the biologics manufacturing space.

Financial Analyst

This contract could have a positive impact on NightHawk's financial performance. Given the size of the contract and the nature of the biologics field, which typically involves high-value products, it may contribute to an increase in revenue and potentially improve profit margins due to economies of scale. Investors should monitor the company's quarterly financials for indications of how this contract is affecting the bottom line. Additionally, the relationship with a leading research university could enhance NightHawk's credibility and attract further contracts, potentially leading to a more robust pipeline and a stronger competitive position in the market.

Biotech Industry Analyst

The commencement of manufacturing a novel biologic for substance use disorder by Scorpius BioManufacturing holds significant implications for the biotech industry. Substance use disorders represent a challenging therapeutic area with a high unmet medical need. The development of biologics in this space is relatively novel and success here could pave the way for further innovation and investment in treatments for addiction. This move by Scorpius could be indicative of a broader industry shift towards exploring and treating complex conditions with biologics, which have historically been underrepresented in addiction medicine.

Scorpius subsidiary to manufacture novel biologic targeting substance use disorder

DURHAM, N.C., Jan. 03, 2024 (GLOBE NEWSWIRE) -- NightHawk Biosciences (NYSE American: NHWK) (“NightHawk” or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced its Scorpius BioManufacturing subsidiary (“Scorpius”) has commenced work on a contract that it was awarded by a leading university to develop and manufacture a novel biologic targeting substance use disorder, which includes drug, alcohol and opioid addiction.

Jeff Wolf, CEO of NightHawk, commented, “We are honored to have been awarded this multi-million dollar contract by one of the foremost research universities in the United States. Scorpius was selected due to its process development and large molecule manufacturing expertise, as well as its flexibility and dedication to customer service. We are off to a strong start and look forward to expanding this relationship into additional programs in 2024 and beyond. Overall, we could not be more excited by the traction and growing pipeline within Scorpius.”

NightHawk Biosciences, Inc.
NightHawk Biosciences, through its Scorpius BioManufacturing subsidiary, is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit: www.nighthawkbio.com or www.scorpiusbiologics.com, and also follow us on Twitter.

Forward Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as expanding the relationship with the university into additional programs in 2024 and beyond Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to generate future revenue from manufacturing contracts, the Company’s ability to continue to grow revenue, leverage fixed costs and achieve long-term profitability; the Company’s ability to create substantial shareholder value as a pure-play CDMO in an underserved marketplace; the Company’s financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company’s ability to successfully operate as a CDMO the ability to obtain regulatory approval or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure-play CDMO, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2022, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.

Media and Investor Relations Contact
David Waldman
+1 919 289 4017
investorrelations@nighthawkbio.com

FAQ

What did NightHawk Biosciences announce regarding its subsidiary Scorpius BioManufacturing?

NightHawk Biosciences announced that its subsidiary, Scorpius BioManufacturing, has commenced work on a multi-million dollar contract awarded by a leading university to develop and manufacture a novel biologic targeting substance use disorder.

What is the ticker symbol for NightHawk Biosciences?

The ticker symbol for NightHawk Biosciences is NHWK.

What type of addiction does the novel biologic developed by Scorpius target?

The novel biologic developed by Scorpius targets substance use disorder, including drug, alcohol, and opioid addiction.

Where are the facilities of Scorpius BioManufacturing located?

The state-of-the-art facilities of Scorpius BioManufacturing are located in San Antonio, TX.

What services does Scorpius BioManufacturing offer to pharmaceutical and biotech companies?

Scorpius BioManufacturing offers analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies.

What did CEO Jeff Wolf express about the traction and growing pipeline within Scorpius?

CEO Jeff Wolf expressed excitement about the traction and growing pipeline within Scorpius, highlighting the company's expertise and dedication to customer service.