We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Why is Emergent BioSolutions Inc. (EBS) Down 22% Today?
Read MoreHide Full Article
Emergent BioSolutions Inc. (EBS - Free Report) opened down 22% on Wednesday on news that the U.S. Government issued two solicitation notices that didn’t quite live up to investors’ expectations. The first is for the continued procurement of 29.4M doses of BioThrax, the firm’s current anthrax vaccine, as well as advanced development and procurement of up to 27M doses of a next-generation anthrax vaccine.
As SeekingAlpha reports, EBS saw an unusually high 8x surge in volume in response to the announcement today. Investor disappointment stems from the fact that of the 56.4M doses of anthrax vaccines that the federal government is seeking out per the solicitations, only 29.4M comes from a current EBS product. However, EBS is confident that their new vaccine currently in development, NuThrax, satisfies the specifications in the HHS solicitation.
EBS is a biopharmaceutical company dedicated to creating countermeasures to biological and chemical threats, as well as diseases. EBS had announced on Tuesday that the FDA had completed its Pre-Approval Inspection of the company’s facility for the development of an Anthrax vaccine, and is expected to be approved by August 15. The $104 million BioThrax program is fully funded by the U.S. Department of Health and Human Services.
Just last week, EBS had announced that the FDA gave BioThrax orphan status, meaning that it has marketing exclusivity in the U.S. through November of 2022. As it stands, BioThrax is the only FDA-licensed vaccine for anthrax.
EBS currently sits at a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Why is Emergent BioSolutions Inc. (EBS) Down 22% Today?
Emergent BioSolutions Inc. (EBS - Free Report) opened down 22% on Wednesday on news that the U.S. Government issued two solicitation notices that didn’t quite live up to investors’ expectations. The first is for the continued procurement of 29.4M doses of BioThrax, the firm’s current anthrax vaccine, as well as advanced development and procurement of up to 27M doses of a next-generation anthrax vaccine.
As SeekingAlpha reports, EBS saw an unusually high 8x surge in volume in response to the announcement today. Investor disappointment stems from the fact that of the 56.4M doses of anthrax vaccines that the federal government is seeking out per the solicitations, only 29.4M comes from a current EBS product. However, EBS is confident that their new vaccine currently in development, NuThrax, satisfies the specifications in the HHS solicitation.
EBS is a biopharmaceutical company dedicated to creating countermeasures to biological and chemical threats, as well as diseases. EBS had announced on Tuesday that the FDA had completed its Pre-Approval Inspection of the company’s facility for the development of an Anthrax vaccine, and is expected to be approved by August 15. The $104 million BioThrax program is fully funded by the U.S. Department of Health and Human Services.
Just last week, EBS had announced that the FDA gave BioThrax orphan status, meaning that it has marketing exclusivity in the U.S. through November of 2022. As it stands, BioThrax is the only FDA-licensed vaccine for anthrax.
EBS currently sits at a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>