Emergent rises on improved 2024 sales view, narrower loss forecast

Emergent BioSolutions

07/11/2024 10:24

** Shares of Emergent BioSolutions  EBS.N  rise 20.1% to
$11.05 premarket
    ** Late on Wednesday, drugmaker raised the lower end of its
annual rev. forecast to $1.07 bln from $1.05, while keeping
upper end at $1.13 bln 
    ** It also expects a narrower loss of $30 mln to $50 mln for
2024 versus its earlier estimate of $75 mln to $115 mln
    ** Co's Q3 adj. EPS of $1.37 beat Wall Street estimates of
14 cents - LSEG
    ** However, EBS' Q3 rev. of $293.8 mln missed estimates of
$297.5 mln
    ** Co also said its smallpox drug Tembexa was included in a
clinical trial for mpox led by the Africa Centres for Disease
Control and Prevention
    ** Up to last close, stock has almost quadrupled YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))