Emergent secures $16.7 million BARDA contract option

This announcement is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and assumptions. Emergent's actual results could differ materially from those anticipated in these statements. While InvestingPro analysis indicates the stock is currently undervalued, investors should note that analysts don't expect profitability this year. For deeper insights into Emergent's financial outlook and access to comprehensive Pro Research Reports covering 1,400+ US stocks, consider an InvestingPro subscription. While InvestingPro analysis indicates the stock is currently undervalued, investors should note that analysts don't expect profitability this year. For deeper insights into Emergent's financial outlook and access to comprehensive Pro Research Reports covering 1,400+ US stocks, consider an InvestingPro subscription. The contract is part of a 10-year agreement with BARDA for advanced development and procurement, with a potential maximum value of $704 million.

This recent contract modification will support drug product process and analytical testing validation, along with long-term stability studies for Ebanga™, which is approved for the treatment of Zaire Ebola virus infections. Simon Lowry, M.D., Emergent's Chief Medical (TASE:PMCN) Officer, expressed satisfaction with the ongoing partnership with BARDA, highlighting the critical nature of developing treatments for such a devastating disease.

This announcement is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and assumptions. Emergent's actual results could differ materially from those anticipated in these statements. While InvestingPro analysis indicates the stock is currently undervalued, investors should note that analysts don't expect profitability this year. For deeper insights into Emergent's financial outlook and access to comprehensive Pro Research Reports covering 1,400+ US stocks, consider an InvestingPro subscription. Emergent's responsibilities under the contract involve manufacturing scale-up, technology transfer, stability studies, and the submission of a supplemental Biologics License Application to the U.S. Food and Drug Administration.

Ebanga™ is a monoclonal antibody treatment for adult and pediatric patients, including neonates born to mothers testing positive for the Zaire Ebola virus. The treatment's efficacy for other species within the Ebolavirus and Marburgvirus genera has not been established. There is a caution for healthcare providers to consider drug susceptibility patterns for circulating strains of the virus.

The safety profile for Ebanga™ lists hypersensitivity reactions, including infusion-associated events, as potential risks. The most common adverse events reported are pyrexia, tachycardia, diarrhea, vomiting, hypotension, tachypnea, and chills.

Emergent BioSolutions, with a mission to protect and enhance life, has been developing and manufacturing vaccines and therapeutics for public health threats for over 25 years. The company also provides contract development and manufacturing services to the pharmaceutical and biotechnology sectors.

This announcement is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and assumptions. Emergent's actual results could differ materially from those anticipated in these statements.

In other recent news, Emergent BioSolutions has been making significant strides in revenue and product development. The company has recently disclosed its financial results for the third quarter of 2024, although specific financial details were not disclosed. Despite its current unprofitability, the company's annual revenue is reported to be $1.13 billion.

Emergent BioSolutions has also secured a $50 million contract with the U.S. Biomedical Advanced Research and Development Authority (BARDA) for its CYFENDUS® Anthrax Vaccine, following a prior $30 million modification to supply the same vaccine. Deliveries are expected to commence this year and conclude by April 2025.

Additionally, H.C. Wainwright began covering Emergent BioSolutions with a Buy rating and a price target of $15.00 per share. This positive outlook is based on the company's diversified business model, including its opioid overdose reversal product NARCAN, infectious disease vaccines and treatments, and contract development and manufacturing services. The firm also noted the company's strong financial position and its potential for growth over the next 12 months.

Lastly, analysts project that NARCAN sales could surpass $400 million in 2024, highlighting the demand for such treatments due to the ongoing opioid epidemic in the United States. These recent developments underline Emergent BioSolutions' commitment to public health preparedness and its potential for future growth.

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