Emergent BioSolutions lifts lower-end of guidance, shares rise

Emergent BioSolutions (EBS +15%) posts double-digit gains on the back of Q3 results that easily topped analysts' expectations.

Revenue rose 33.7% Y/Y for the period, while net income more than doubled to $13.5M.

Product sales for the period: $76.3M (+41% Y/Y).

Q3 R&D spend: $28.9M.

Cash plus accounts receivable as of September 30: $202.7M.

FY13 outlook: Revenue of $300-310M (versus previous guidance of $290-310M). (PR)

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