Loading...
•
Sep 30, 2022
Emergent BioSolutions Q3 2022 Earnings Report
Emergent BioSolutions reported financial results for the third quarter of 2022, showing a decrease in total revenues and a net loss.
Key Takeaways
Emergent BioSolutions reported a decrease in total revenues by 27% compared to Q3 2021, with revenues of $240.0 million. The company experienced a net loss of $75.7 million, a significant increase from the $32.7 million loss in the same period last year. The decrease in revenue was primarily driven by lower product sales and CDMO services.
Completed the acquisition of worldwide rights to TEMBEXA from Chimerix following a BARDA contract award.
Initiated a Phase 1 study for EBS-LASV, a Lassa virus vaccine candidate.
Completed enrollment in the pivotal Phase 3 study for the single-dose CHIKV VLP vaccine candidate in adults aged 12 to 64.
Announced positive data from a Phase 2 study evaluating the CHIKV VLP vaccine candidate.
Revenue by Segment
Forward Guidance
Emergent BioSolutions has updated its full year 2022 financial forecast to reflect management's expectations based on the most current information available.
Positive Outlook
- Anticipated deliveries of AV7909 and BioThrax
- Initial revenues related to deliveries under the existing 10-year HHS procurement contract for TEMBEXA
- Continued strong demand in the public interest (PIP) channel in the U.S. for Nasal Naloxone Products
- Continuing demand in Canada for Nasal Naloxone Products
- Continued rebaselining of the services business overall
Challenges Ahead
- Impact of the FDA Warning Letter on certain batches filled/finished at the Camden site for Anthrax Vaccines
- Removal of revenues associated with the next option exercise under the existing 10-year BARDA procurement contract for ACAM2000, as the timing is now uncertain
- Impact of reduced production output from the Camden facility following the FDA's issuance of a Warning Letter for this site earlier in 2022 on CDMO
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...