Proactive changes aim to ensure long-term sustainability and growth, optimize operations, streamline processes, and allocate resources more efficientlyReorganization will align with evolving business goals, strategic priorities and new operational planOverall efforts expected to deliver annual cost savings of approximately $80 million  GAITHERSBURG, Md., May 01, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions (NYSE:EBS) today announced the next phase of its new operational plan that consolidates operations, ...

Nearly 9 in 10 Americans surveyed agree opioid overdoses are a concern for teenagers and college students; parents in the survey want life-saving treatment to be easily accessible in case of an emergency GAITHERSBURG, Md., May 01, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) today announced the results of a new national public opinion survey showing that more than 90 percent of Americans surveyed recognize opioid overdoses are a pressing concern for teenagers and college students, and more ...

GAITHERSBURG, Md., April 30, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) announced that it has entered into a "Consent, Waiver and Seventh Amendment" to its existing credit facility. "In light of this amendment, Emergent now has an extended runway to execute on our go-forward business plan to stabilize our financial position," stated Joe Papa, president and CEO of Emergent. "Our bank group continues to work with our management team in a constructive fashion, evidenced by this positive dev ...

GAITHERSBURG, Md., April 22, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE:EBS) will host a conference call on Wednesday, May 1, 2024, at 5:00 pm eastern time to discuss the financial results for the first quarter 2024, key business updates, revenue guidance for the second quarter of 2024, and financial outlook for full year 2024. Conference Call InformationParticipants can access the conference call live via webcast. To participate via telephone, please register in advance at this link. Upon re ...

GAITHERSBURG, Md., April 22, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) will host a conference call on Wednesday, May 1, 2024, at 5:00 pm eastern time to discuss the financial results for the first quarter 2024, key business updates, revenue guidance for the second quarter of 2024, and financial outlook for full year 2024. Conference Call InformationParticipants can access the conference call live via webcast. To participate via telephone, please register in advance at this link. Upon r ...

Emergent BioSolutions (EBS) reported an adjusted loss of 77 cents per share in fourth-quarter 2023, wider than the Zacks Consensus Estimate of a loss of 33 cents. In the year-ago quarter, EBS reported adjusted earnings of 11 cents per share.Revenues in the quarter totaled $276.6 million, down 16% from the prior-year period’s level. The reported figure outpaced the Zacks Consensus Estimate of $247.6 million.The company's shares lost almost 16% in after-market trading on Mar 6, likely due to the earnings miss ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33137 EMERGENT BIOSOLUTIONS INC. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 14-1902018 | | --- | --- | | (State or Oth ...

Financial Data and Key Metrics Changes - Emergent reported total revenues of $277 million for the fourth quarter, with full-year revenue of $1.05 billion, aligning with the midpoint of previously provided guidance [58][61] - Adjusted EBITDA for the fourth quarter was $3.4 million, while the full-year adjusted EBITDA was negative $22 million, indicating challenges in profitability [58][61] - The company ended 2023 with $112 million in cash and a net debt position of $757 million, reflecting ongoing efforts to improve financial stability [45][61] Business Line Data and Key Metrics Changes - NARCAN sales reached $111 million in the fourth quarter, driven by strong demand from the U.S. public interest channel and the launch of OTC NARCAN [40][58] - The Commercial Products segment generated $111 million in revenue, entirely from NARCAN, with a segment adjusted gross margin of 55% [43] - The MCM Products segment reported revenues of $138 million, influenced by anthrax and other medical countermeasure products, with a segment adjusted gross margin of 30% [43][44] Market Data and Key Metrics Changes - The opioid crisis remains a significant public health issue, with 105,000 overdose deaths reported in the last year, emphasizing the importance of NARCAN [30] - Emergent's NARCAN Direct distribution platform facilitated the distribution of approximately 22 million doses in the U.S. and Canada [31] Company Strategy and Development Direction - The company is focused on a multiyear plan to stabilize, turn around, and transform its operations, with an emphasis on reducing debt and improving financial performance [8][9] - A strategic shift towards enhancing the NARCAN product line and expanding access through various channels, including retail and business-to-business markets, is underway [16][24][77] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by debt and emphasized the importance of improving operational performance and reducing working capital [23][24] - The company anticipates variability in its 2024 forecast due to changing government procurement dynamics and funding levels [55][63] Other Important Information - Emergent has entered into a forbearance agreement with lenders through April 30, 2024, as part of its debt reduction strategy [9][53] - The company achieved significant contract wins, including a $379.6 million contract with the U.S. Department of Defense, reinforcing its role in public health preparedness [37][38] Q&A Session Summary Question: What are the product or asset sales you are considering? - Management indicated that they are evaluating various opportunities to reduce debt, including potential product and asset sales, but specifics were not disclosed [70][75] Question: Can you talk about the MCM guidance, particularly regarding ACAM2000 and TEMBEXA? - Management expects additional procurement for ACAM2000 in mid-2024, while TEMBEXA procurement has been deferred [78][79] Question: How does the OTC designation for NARCAN impact its availability? - The OTC designation is expected to expand access across all channels, with strong federal and state support for public interest segments [77][91] Question: What is the impact of the sBLA for ACAM2000 on future sales? - A positive FDA response to the sBLA could enhance sales potential for ACAM2000 in 2025 and beyond, but no immediate contributions are expected in 2024 [83] Question: Can you provide details on the public interest channel for NARCAN? - The public interest channel aims to distribute NARCAN to vulnerable populations, with ongoing efforts to increase access through various initiatives [84][86]

Emergent Biosolutions (EBS) came out with a quarterly loss of $0.77 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -133.33%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $0.12 per share when it actually produced a loss of $1.44, delivering a surprise of -1,100%.Over the last four quarters ...

--- Total Segment Adjusted Gross Margin %2 1.All financial information incorporated within this presentation is unaudited. 2. See "End Notes: Non-GAAP Financial Measures" and "Appendix" for the definitions of non-GAAP terms and reconciliations to the most directly comparable GAAP financial measures. 15 FINANCIALS Key Financial Performance Metrics FY 2023 vs. FY 2022 (Continued)1 ($ in millions) FY 2022 FY 2023 SG&A $ --- $188.3 $96.8 $339.5 $368.4 30% 35% Cost of Commercial Product Sales Cost of MCM Product ...