We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Emergent (EBS) Gets $75M BARDA Contract for Anthrax Vaccine
Read MoreHide Full Article
Emergent BioSolutions (EBS - Free Report) announced that the Biomedical Advanced Research and Development Authority (“BARDA”) exercised an option valued on an existing deal to procure additional doses of its recently approved anthrax vaccine Cyfendus (AV7909).
In return for exercising this option, BARDA will pay $75 million to Emergent for the additional doses.
Management expects to start making Cyfendus dose deliveries from this calendar year, which it expects to complete by the end of first-quarter 2024.
The FDA granted full approval to Cyfendus in July as a two-dose anthrax vaccine for post-exposure prophylaxis use in adults aged 18 and older. Prior to this approval, Emergent had been supplying the vaccine to the United States government since 2019 under a pre-emergency use authorization status.
Year to date, shares of Emergent have plunged 83.0% compared with the industry’s 23.5% fall.
Image Source: Zacks Investment Research
Anthrax is an infectious disease caused by Bacillus anthracis, which occurs naturally in soil. Per the CDC, the disease commonly affects domestic and wild animals and people can contract anthrax if they come in contact with infected animals or contaminated animal products.
Currently, Emergent has been facing certain headwinds. The company recently received a notice from the New York Stock Exchange (“NYSE”) due to a delay in the filing of form 10-Q for the quarter ended September 2023. Per the notice, it is in non-compliance with NYSE rules and needs to file the form within six months from Nov 9 to regain compliance.
Earlier this month, Emergent disclosed in an SEC filing that the reason for the delay was due to an overstated state deferred tax liability as of Dec 31, 2022. Hence, the income tax benefits reflected in the company’s financial statements beyond that period have been understated. As a result, management is currently unable to provide providing a comparison of its current results for the quarter ending September 2023. It is also working on quantifying and evaluating the impact of these adjustments on its prior period financial statements.
Emergent derives a substantial portion of its revenues from sales of its anthrax and smallpox vaccines to the U.S. government, which the latter procures for the strategic national stockpile (“SNS”). The companyalso supplies these vaccines to domestic and international non-government organizations and governments outside of the United States.
Recently, Emergent commercially rolled out an over-the-counter (“OTC”) version of Narcan nasal spray for emergency treatment of opioid overdose. The approval of the OTC version, granted by the FDA in March, makes Narcan the first and currently the only naloxone NCI nasal spray available for opioid overdose in the U.S. market without a prescription. The launch will likely help the company reduce its dependence on one single party for revenues.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 loss per share have improved from 37 cents to 10 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 22 cents. Shares of CytomX have lost 15.6% in the year-to-date period.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.22 to $2.62. During the same period, the earnings estimates per share for 2024 have risen from $2.57 to $3.07. Shares of NVO have surged 49.9% in the year-to-date period.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’searnings beat estimates by 5.80%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have increased from 67 cents to 73 cents. During the same period, the earnings estimates per share for 2024 have risen from 55 cents to 62 cents. Shares of PBYI have lost 3.1% in the year-to-date period.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while meeting the mark on one occasion, witnessing an average surprise of 76.55%. In the last reported quarter, Puma Biotechnology’s earnings beat estimates by 13.33%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Emergent (EBS) Gets $75M BARDA Contract for Anthrax Vaccine
Emergent BioSolutions (EBS - Free Report) announced that the Biomedical Advanced Research and Development Authority (“BARDA”) exercised an option valued on an existing deal to procure additional doses of its recently approved anthrax vaccine Cyfendus (AV7909).
In return for exercising this option, BARDA will pay $75 million to Emergent for the additional doses.
Management expects to start making Cyfendus dose deliveries from this calendar year, which it expects to complete by the end of first-quarter 2024.
The FDA granted full approval to Cyfendus in July as a two-dose anthrax vaccine for post-exposure prophylaxis use in adults aged 18 and older. Prior to this approval, Emergent had been supplying the vaccine to the United States government since 2019 under a pre-emergency use authorization status.
Year to date, shares of Emergent have plunged 83.0% compared with the industry’s 23.5% fall.
Image Source: Zacks Investment Research
Anthrax is an infectious disease caused by Bacillus anthracis, which occurs naturally in soil. Per the CDC, the disease commonly affects domestic and wild animals and people can contract anthrax if they come in contact with infected animals or contaminated animal products.
Currently, Emergent has been facing certain headwinds. The company recently received a notice from the New York Stock Exchange (“NYSE”) due to a delay in the filing of form 10-Q for the quarter ended September 2023. Per the notice, it is in non-compliance with NYSE rules and needs to file the form within six months from Nov 9 to regain compliance.
Earlier this month, Emergent disclosed in an SEC filing that the reason for the delay was due to an overstated state deferred tax liability as of Dec 31, 2022. Hence, the income tax benefits reflected in the company’s financial statements beyond that period have been understated. As a result, management is currently unable to provide providing a comparison of its current results for the quarter ending September 2023. It is also working on quantifying and evaluating the impact of these adjustments on its prior period financial statements.
Emergent derives a substantial portion of its revenues from sales of its anthrax and smallpox vaccines to the U.S. government, which the latter procures for the strategic national stockpile (“SNS”). The companyalso supplies these vaccines to domestic and international non-government organizations and governments outside of the United States.
Recently, Emergent commercially rolled out an over-the-counter (“OTC”) version of Narcan nasal spray for emergency treatment of opioid overdose. The approval of the OTC version, granted by the FDA in March, makes Narcan the first and currently the only naloxone NCI nasal spray available for opioid overdose in the U.S. market without a prescription. The launch will likely help the company reduce its dependence on one single party for revenues.
Emergent Biosolutions Inc. Price
Emergent Biosolutions Inc. price | Emergent Biosolutions Inc. Quote
Zacks Rank & Stock to Consider
Emergent currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include CytomX Therapeutics (CTMX - Free Report) , Novo Nordisk (NVO - Free Report) , and Puma Biotechnology (PBYI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 loss per share have improved from 37 cents to 10 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 22 cents. Shares of CytomX have lost 15.6% in the year-to-date period.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, estimates for Novo Nordisk’s 2023 earnings per share have increased from $2.22 to $2.62. During the same period, the earnings estimates per share for 2024 have risen from $2.57 to $3.07. Shares of NVO have surged 49.9% in the year-to-date period.
Novo Nordisk’s earnings beat estimates in two of the last four quarters while meeting the mark on one occasion and missing the estimates on another. On average, the company witnessed an average surprise of 0.58%. In the last reported quarter, Novo Nordisk’searnings beat estimates by 5.80%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have increased from 67 cents to 73 cents. During the same period, the earnings estimates per share for 2024 have risen from 55 cents to 62 cents. Shares of PBYI have lost 3.1% in the year-to-date period.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while meeting the mark on one occasion, witnessing an average surprise of 76.55%. In the last reported quarter, Puma Biotechnology’s earnings beat estimates by 13.33%.