Emergent BioSolutions Inc. Enters into Long-Term Manufacturing Agreement with ProMetic Life Sciences Inc
May 19 15
Emergent BioSolutions Inc. announced that it has signed a strategic long-term manufacturing agreement with ProMetic Life Sciences Inc. This agreement provides ProMetic access to Emergent's cGMP FDA-licensed biopharmaceuticals facility located in Winnipeg, Manitoba, Canada. ProMetic will commence transferring its technology and manufacturing process into Emergent's Winnipeg facility as soon as possible, followed by the scale-up and manufacture by Emergent of cGMP biopharmaceuticals to enable ProMetic to pursue additional IND filings. Under the terms of this manufacturing agreement, ProMetic is obligated to purchase at least CAD 4 million of capacity in the first full contract year. The minimum order amount increases over the 15-year life of the contract. The aggregate total of the minimum fees over the life of the contract is in excess of CAD 100 million. The agreement also provides flexibility to the parties in the event services in excess of the minimum are requested by ProMetic. These services will be charged on an as-used basis.
Emergent BioSolutions, Inc. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015; Reaffirms Earnings Guidance for the Full Year 2015
May 7 15
Emergent BioSolutions, Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $63,633,000 compared with $53,884,000 for the same period last year. Loss from operations was $28,310,000 compared with $25,458,000 for the same period last year. Loss before benefit from income taxes was $29,789,000 compared with $28,441,000 for the same period last year. Net loss was $21,520,000 or $0.57 diluted per share compared with $20,236,000 or $0.55 diluted per share for the same period last year. Net cash used in operating activities was $65,873,000 compared with $29,245,000 for the same period last year. Purchases of property, plant and equipment was $9,082,000 compared with $4,590,000 for the same period last year. EBITDA was $19.6 million, or $0.52 per diluted share, as compared to $18.1 million, or $0.49 per diluted share, in 2014. Adjusted EBITDA was $18.4 million, or $0.48 per diluted share, as compared to $13.5 million or $0.37 per diluted share, in 2014. Adjusted net loss was $18.8 million, or $0.50 per diluted share, as compared to an adjusted net loss of $14.6 million, or $0.40 per diluted share, in 2014.
For the second quarter of 2015 total revenues is expected to be of $105 million to $120 million.
For full year 2015, the company reaffirming forecast for total revenues of between $510 million and $540 million for the year, including between $270 million and $285 million of BioThrax product sales, and net income between $50 million and $60 million on a GAAP basis and between $60 million and $70 million on an adjusted basis.
Emergent BioSolutions Seeks Acquisitions
May 7 15
Emergent BioSolutions, Inc. (NYSE:EBS) is looking for acquisition opportunities. Bob Kramer, Executive Vice President & Chief Financial Officer of Emergent said, "Our financial strength positions us to continue to execute on our growth plan including targeted acquisitions."
Emergent BioSolutions, Inc. Expands Commercial Product Portfolio With FDA Approval of IXINITY, a Recombinant Factor IX Treatment for Hemophilia B
Apr 30 15
Emergent BioSolutions Inc. announced that the U.S. Food and Drug Administration (FDA) has approved IXINITY® [coagulation factor IX (recombinant)], an intravenous recombinant human coagulation factor IX therapeutic for the control and prevention of bleeding episodes and for perioperative management in adults and children, =12 years of age, with Hemophilia B. Hemophilia B is a bleeding disorder caused by a mutation on the factor IX gene resulting in a deficiency of clotting factor IX in the blood, which controls bleeding. The approval of IXINITY is based on a global clinical trial in which IXINITY showed a mean incremental recovery of 0.98 IU/dL and a mean terminal half-life of 24 hours. IXINITY is a third-generation1 treatment with no factor IX inhibitors developed in clinical trials. Simultaneous with this approval, the company is launching the IXINITY IXperience™ Concierge, available at 1-855-IXINITY, which will provide information on IXINITY and other programs designed with the needs of people with Hemophilia B and their community in mind.