GAITHERSBURG, Md., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today announced it has completed the sale of its drug product facility in Baltimore-Camden to an affiliate of Bora Pharmaceuticals Co., Ltd. ("Bora", TWSE: 6472). Emergent received approximately $30 million at closing, which is subject to customary post-closing adjustments. With the transaction closed, Bora has acquired the assets, equipment, and workforce associated with the 87,000 square foot Baltimore-Camden manuf ...

Active engagement with the World Health Organization, U.S. government and other global health leaders on critical efforts to prevent mpox disease transmission 50,000 doses of ACAM2000®, (Smallpox (Vaccinia) Vaccine, Live) will be donated to Direct Relief for potential deployment across often difficult-to-reach locations, and as informed by local and regional health authorities GAITHERSBURG, Md., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions (NYSE: EBS) today announced it is proactively working wit ...

Diy13 Emergent BioSolutions Overview Emergent BioSolutions (NYSE:EBS) has faced challenging circumstances, yet it is strongly positioned as an important player in public health. Earlier this year, I explored the high-risk, high-reward potential of EBS and its strategic turnaround efforts. Since then, significant strides have been made with its flagship product, NARCAN, which is central to the fight against the opioid crisis. Additionally, ACAM2000's potential expanded indication approval for monkeypox in Q3 ...

Concerns about the mpox outbreak are causing Emergent BioSolutions' shares to jump. Shares of Emergent BioSolutions (EBS 18.78%) were skyrocketing 19.5% higher as of 11:09 a.m. ET on Friday after rising as much as 34.1% earlier in the day. The big gain came after the European Centre for Disease Prevention and Control raised its risk level for mpox to "moderate" from "low." The decision followed the confirmation of a case of mpox infection in Sweden. On Wednesday, the World Health Organization declared a glo ...

On Tuesday, Emergent BioSolutions Inc. EBS reported second-quarter 2024 sales of $254.7 million, down 25% year over year, beating the consensus of $190 million. The company reported an adjusted EPS loss of $(2.32), more than double the $(1.05) reported a year ago, missing the consensus of $(0.94). Revenues from Narcan (naloxone HCl) Nasal Spray decreased 10% to $120 million, primarily driven by an unfavorable price and volume mix in 2024 to U.S. public interest channels and lower Canadian market sales, part ...

Emergent BioSolutions Inc. (NYSE:EBS) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Joe Papa - President and CEO Rich Lindahl - EVP and CFO Paul Williams - SVP, Products Business Conference Call Participants Operator Good afternoon, everyone. I'm the operator for today's call. Thank you for joining today as Emergent discusses their Operational and Financial Results for the Second Quarter of 2024. As is customary, today's call is open to all participants, and the call is bei ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 300 Professional Drive Gaithersburg, MD 20879 Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

| --- | --- | |----------------|-------| | | | | | | | | | | | | | Q2 2024 | | | Financial | | | Results | | | Update | | | | | | | | | | | | | | | August 6, 2024 | | | | | | | | | | | | | | | | | | | | PROPRIETARY AND CONFIDENTIAL Q2 2024 Update Introduction INTRODUCTION Safe Harbor Statement/Trademarks This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statemen ...

Second Quarter 2024 Total Revenues of $254.7 million, above the prior guidance range Second Quarter 2024 Net Loss of $283.1 million and Adjusted EBITDA of $(10.1) million Updates FY 2024 guidance GAITHERSBURG, Md., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today reported financial results for the second quarter ended June 30, 2024. "In the first half of the year, we made great progress to stabilize our financial position by strategically divesting assets, resolving several leg ...

Financial Performance - Total revenues for Q2 2024 were $254.7 million, a decrease of 25% compared to $337.9 million in Q2 2023[2] - Net loss for Q2 2024 was $283.1 million, compared to a net loss of $261.4 million in Q2 2023, representing an 8% increase in losses[2] - Adjusted EBITDA for Q2 2024 was $(10.1) million, a significant decline from $55.9 million in Q2 2023, marking a 118% decrease[2] - Year-to-date revenues for 2024 reached $555.1 million, an 11% increase from $502.2 million in the same period of 2023[3] - Total revenues for Full Year 2024 are projected to be between $1,050 million and $1,125 million, an increase from the previous range of $1,000 million to $1,100 million[30] - The adjusted net loss for Full Year 2024 is expected to be between $(115) million and $(75) million, compared to the previous range of $(65) million to $(15) million[30] - Adjusted EBITDA for Full Year 2024 is forecasted to be between $140 million and $180 million, up from the previous range of $125 million to $175 million[30] - Total revenues for the first half of 2024 were $254.7 million, a decrease of 24.6% compared to $337.9 million in the same period of 2023[50] - Net loss for the first half of 2024 was $283.1 million, compared to a net loss of $261.4 million in the same period of 2023[50] - The company reported a loss from operations of $203.5 million for the first half of 2024, compared to a loss of $292.9 million in the same period of 2023[50] - The forecasted net loss for 2024 is between $(314) million and $(274) million[59] Revenue Breakdown - Revenues from NARCAN decreased by $13.9 million, or 10%, in Q2 2024 compared to Q2 2023, primarily due to unfavorable pricing and volume mix[6] - Revenues from Anthrax MCM increased by $17.6 million, or 83%, in Q2 2024 compared to Q2 2023, driven by timing of sales[8] - Revenues from Smallpox MCM decreased by $105.9 million, or 86%, in Q2 2024 compared to Q2 2023, primarily due to timing of U.S. government purchases[9] - For Q2 2024, Commercial Products segment revenues decreased by $17.9 million, or 13%, to $120.0 million compared to $137.9 million in Q2 2023[22] - MCM Products segment revenues fell by $100.9 million, or 61%, to $63.4 million in Q2 2024 from $164.3 million in Q2 2023[23] - Services segment revenues increased by $35.6 million, or 122%, to $64.7 million in Q2 2024 compared to $29.1 million in Q2 2023[24] - For the six months ended June 30, 2024, Commercial Products revenues decreased by $5.6 million, or 2%, to $238.5 million compared to $244.1 million in the same period of 2023[25] - MCM Products revenues increased by $17.3 million, or 9%, to $218.8 million for the six months ended June 30, 2024, compared to $201.5 million in the prior year[26] - Services segment revenues increased by $39.7 million, or 91%, to $83.2 million for the six months ended June 30, 2024, compared to $43.5 million in the same period of 2023[27] Expenses and Costs - Operating expenses decreased by 27% to $458.2 million in Q2 2024 from $630.8 million in Q2 2023[13] - Capital expenditures for Q2 2024 were $4.6 million, a 63% decrease from $12.5 million in Q2 2023[19] - Research and Development (R&D) expenses are projected to be around 7% of revenue[31] - The company incurred $110.2 million in settlement charges, which were not present in the previous year's results[52] - Share-based compensation expense decreased to $11.4 million from $15.1 million, indicating cost control measures[51] Cash and Assets - Cash and cash equivalents decreased to $69.7 million as of June 30, 2024, from $111.7 million at the end of 2023[47] - Total assets decreased to $1,513.5 million as of June 30, 2024, down from $1,823.2 million at the end of 2023[49] - Total liabilities decreased to $1,127.2 million as of June 30, 2024, compared to $1,173.9 million at the end of 2023[48] - The company’s total stockholders' equity decreased to $386.3 million as of June 30, 2024, down from $649.3 million at the end of 2023[49] - Total cash, cash equivalents, and restricted cash at the end of the period was $71.0 million, down from $88.6 million at the end of the previous year[51] Forecast and Guidance - The company provided an updated financial forecast for full year 2024 and initial forecast for Q3 2024, reflecting management's expectations based on the most current information available[29] - Commercial Products revenue is projected to be between $450 million and $480 million, a decrease from the previous forecast of $460 million to $500 million[30] - MCM Products revenue is expected to be between $455 million and $490 million, an increase from the previous range of $440 million to $490 million[30] - Services revenue is forecasted to be between $120 million and $130 million, significantly higher than the previous range of $70 million to $80 million[30] - Interest expense is estimated to be approximately $82 million for Full Year 2024[31] - Capital expenditures (Capex) are expected to be approximately $30 million for Full Year 2024[31] - The total segment adjusted gross margin percentage is expected to be between 42% and 45%, slightly down from the previous range of 44% to 47%[30] - The total segment gross margin is forecasted to be between $318 million and $381 million, with a gross margin percentage of 31% to 35%[61] - The company anticipates severance and restructuring costs of $21 million for the year[60] - Impairments are projected to be $27 million, impacting the overall financial outlook[60] - The settlement charge, net, is expected to be $110 million, significantly affecting the adjusted net loss[60]