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Jun 30, 2022
Scorpius Holdings Q2 2022 Earnings Report
NightHawk Biosciences reported a net loss and a decrease in contract revenue, while advancing its biopharmaceutical development and manufacturing capabilities.
Key Takeaways
NightHawk Biosciences reported a net loss of $10.2 million, or ($0.40) per share, for the second quarter of 2022. The company recognized $0.05 million in contract revenue, a decrease compared to the previous year. Despite the financial results, NightHawk is progressing with its biopharmaceutical development and manufacturing capabilities, including the upcoming opening of a biologics manufacturing facility and expansion of its pipeline.
Contract revenue was $0.05 million, a decrease from $0.5 million in the prior year.
Research and development expenses increased to $4.7 million from $4.2 million.
General and administrative expenses increased to $4.9 million from $2.9 million.
Net loss was $10.2 million, or ($0.40) per share, compared to a net loss of $6.5 million, or ($0.26) per share, in the prior year.
Scorpius Holdings
Scorpius Holdings
Forward Guidance
NightHawk Biosciences is focused on advancing its biopharmaceutical development and manufacturing capabilities.
Positive Outlook
- On track to open the Scorpion San Antonio biologics manufacturing facility in Q3.
- Actively progressing development efforts for commercial scale biomanufacturing facility in Manhattan, Kansas.
- Intends to provide a full suite of CDMO manufacturing and bioanalytic services to biopharmaceutical clients.
- Elusys subsidiary executed a contract to deliver ANTHIM® to Canada’s National Emergency Strategic Stockpile.
- Continuing to advance research efforts and expand pipeline through ongoing development at Skunkworx subsidiary.
Challenges Ahead
- Ability to transition into a fully-integrated biopharmaceutical company via its subsidiary ecosystem.
- Ability to successfully integrate Elusys and expand ANTHIM® distribution abroad.
- NightHawk’s ability to commence operation in San Antonio and Kansas when anticipated and to successfully operate as a CDMO.
- NightHawk’s and its subsidiaries’ ability to maintain license agreements.
- The continued maintenance and growth of NightHawk’s and its subsidiaries’ patent estates.