Cowen expects smallpox drug to offset Emergent Bio's uncertainty over vaccine

Chimerix

27/09/2022 14:05

** Cowen and Co says Emergent BioSolutions'  EBS.N 
completion of deal for smallpox drug Tembexa offsets uncertain
outlook for co's smallpox vaccine ACAM2000
    ** U.S. government prefers Danish firm Bavarian Nordic's
 BAVA.CO  Jynneos for protecting against monkeypox over ACAM2000
    ** CDC creating an expanded access program for use of
Tembexa to treat monkeypox
    ** Brokerage anticipates EBS to begin booking sales of
Tembexa in 2023 as it fulfils U.S. government's contract to buy
1.7 mln courses of tablet and suspension over 10 years
    ** EBS late Monday completed the acquisition of Tembexa from
Chimerix  CMRX.O  and is expected to pay CMRX upfront payment of
$238 million, potential milestone payments of up to $124 mln
besides royalties and other payments  urn:newsml:reuters.com:*:nGNX5DwcYr
    ** 3 of 8 brokerages rate EBS "buy" or higher, 5 "hold";
their median PT is $37
    ** Up to Monday's close, EBS' stock had fallen ~54% YTD
 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))