Vaccine Maker Emergent BioSolutions Expects Deeper Losses In 2024, Stock Sinks

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 ...