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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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