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 ...

EMERGENT BIOSOLUTIONS REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS • 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., August 6, 2024—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 b ...

RSDL® is a medical device provided as a kit, with a lotion impregnated sponge in a packet, intended to remove or neutralize chemical warfare agents from the skin. RSDL removes or neutralizes chemical warfare agents (CWAs) including: tabun, sarin, soman, cyclohexyl sarin, VR, VX, mustard gas, and T-2 toxin. RSDL® is the only FDA-cleared device backed by 20 years of clinical data, that can remove or neutralize chemical warfare agents from the skin in one step. Over 15 million packets of RSDL® have been sold i ...

Company Overview - SERB Pharmaceuticals is a global specialty pharmaceutical company with a focus on emergency care and rare diseases, boasting the broadest antidote portfolio for chemical, biological, radiological, and nuclear (CBRN) risks [6][9] - The company has over 30 years of experience in treating complex and life-threatening conditions, supporting healthcare systems and governments while providing hope to patients and their families [6] Acquisition Details - SERB Pharmaceuticals announced the acquisition of RSDL® (Reactive Skin Decontamination Lotion) from Emergent BioSolutions Inc. for an up-front payment of approximately $75 million, with an additional $5 million milestone payment [8] - As part of the acquisition, SERB will operate the leased manufacturing facility in Hattiesburg, Mississippi, and several employees supporting the RSDL® product will join SERB [8] Product Information - RSDL® is a medical device designed to remove or neutralize chemical warfare agents from the skin, with FDA clearance and over 20 years of clinical data supporting its efficacy [1][3] - The product has sold over 15 million packets across more than 30 countries, highlighting its global reach and acceptance [1] Strategic Importance - The acquisition of RSDL® enhances SERB's position as a leading provider of medical countermeasures for CBRN threats, creating new opportunities for collaboration with governments, militaries, NGOs, and emergency preparedness agencies worldwide [9]

"For years, our colleagues have proudly manufactured, sold and distributed RSDL® to many branches of the U.S. government to ensure military personnel safety and public health preparedness," said Joe Papa, president and chief executive officer at Emergent. "SERB is a well-positioned global leader that is expected to continue to make RSDL® readily available for the U.S. and allied governments." RSDL®is anFDA-cleared device provided as kit consisting of a lotion impregnated sponge in a packet, it is intended t ...

This transaction follows Emergent's announcement to sell its drug product facility in Baltimore-Camden, as well as operational changes, which are key actions in its multi-year plan. The net proceeds from the sale of RSDL® and the Baltimore-Camden facility will reduce or eliminate the Junior Capital Raise requirements under Emergent's amended credit facility, a requirement that was recently extended to September 29, 2024. At Emergent, our mission is to protect and enhance life. For 25 years, we've been at wo ...

Naloxone, the active ingredient in NARCAN® Nasal Spray, is a medication designed to rapidly reverses the effects of an opioid poisoning and is the standard of care for opioid overdose reversal. It is available over the counter and can be accessed at leading pharmacies and grocery stores nationwide, as well as online retailers. Emergent partnered with SAFE Project – an organization founded by Sandy Winnefeld, the former Chairman of the Joint Chiefs of Staff, and his wife, Mary – when they lost their son to a ...

Naloxone, the active ingredient in NARCAN® Nasal Spray, is a life-saving medication that can reverse an overdose from prescription and illicit opioids, such as heroin and fentanyl, when given in time. As an emergency public health measure, Health Canada first approved NARCAN® Nasal Spray in October 2016.i,ii In 2023, Emergent distributed approximately 22 million doses (~11 million two-dose cartons) in Canada and the U.S. through public interest organizations, such as community-based organizations, harm redu ...

While the overall market has enjoyed an impressive 17% year-to-date gain, recent rotations and sector-specific outflows have created a ripe environment for potential pullbacks. The semiconductor sector, for example, has seen a notable decline, with the SMH ETF down nearly 10% from its 52-week highs. Significant market rotations can often lead to overbought stocks pulling back as capital shifts from overvalued sectors to undervalued opportunities. For example, the IWM ETF, which represents small caps, has su ...

GAITHERSBURG, Md., July 09, 2024 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today highlights several recent advancements in improving its financial health, marked by robust cash generation and meaningful debt repayment. As set forth in its operational plan to transform the company over the next several years, Emergent is diligently executing its strategy to enhance operational efficiency, streamline costs, and generate cash to increase profitability and reduce the company's overall debt. Thi ...