EBS - Why Emergent BioSolutions Stock Is Sinking Today
Shares of Emergent BioSolutions (NYSE: EBS) were sinking 7.7% as of noon ET on Friday. The decline came after the company announced its first-quarter results following the market close on Thursday.
Emergent BioSolutions reported Q1 revenue of $308 million, down 10% year over year. This result was in line with the company's previous guidance. The company posted a net loss of $3.7 million, or $0.07 per share. The consensus Wall Street estimate was for Q1 earnings of $0.12 per share.
The good news for Emergent BioSolutions is that its marketed products continue to enjoy strong momentum. Sales of its anthrax vaccines soared 88% year over year to $103.6 million. Nasal naxolone product revenue jumped 25% to $93.1 million. Overall, the company's total net product sales increased 72% to $237.1 million.
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Why Emergent BioSolutions Stock Is Sinking Today