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NEW YORK, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Emergent BioSolutions Inc. (“Emergent” or the “Company”) (NYSE: EBS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Emergent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 5, 2026, Emergent reported results for the quarter ended June 30, 2026. Among other items, Emergent announced, among other things, a $191.3 million non-cash impairment charge on the NARCAN asset group, driving a GAAP net loss of $180.2 million. The Company also cut full year revenue guidance by approximately 10.8% at the midpoint. Management attributed its results to “increased competitive intensity with implications for our near to medium term outlook and the book value of our NARCAN asset group.” 

On this news, Emergent’s stock price fell $2.23 per share, or 29.58%, to close at $5.31 per share on August 6, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Emergent BioSolutions Inc. ("Emergent" or the "Company") (NYSE: EBS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Emergent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 5, 2026, Emergent reported results for the quarter ended June 30, 2026.  Among other items, Emergent announced, among other things, a $191.3 million non-cash impairment charge on the NARCAN asset group, driving a GAAP net loss of $180.2 million.  The Company also cut full year revenue guidance by approximately 10.8% at the midpoint. Management attributed its results to "increased competitive intensity with implications for our near to medium term outlook and the book value of our NARCAN asset group." 

On this news, Emergent's stock price fell $2.23 per share, or 29.58%, to close at $5.31 per share on August 6, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:

Danielle Peyton

Pomerantz LLP

[email protected]

646-581-9980 ext. 7980

SOURCE Pomerantz LLP

NEW YORK, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Emergent BioSolutions Inc. (“Emergent” or the “Company”) (NYSE: EBS).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Emergent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 5, 2026, Emergent reported results for the quarter ended June 30, 2026.  Among other items, Emergent announced, among other things, a $191.3 million non-cash impairment charge on the NARCAN asset group, driving a GAAP net loss of $180.2 million.  The Company also cut full year revenue guidance by approximately 10.8% at the midpoint.  Management attributed its results to “increased competitive intensity with implications for our near to medium term outlook and the book value of our NARCAN asset group.” 

On this news, Emergent’s stock price fell $2.23 per share, or 29.58%, to close at $5.31 per share on August 6, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Ready to Rescue campaign returns to U.S. college campuses with Release Recovery Founder and CEO Zac Clark Partnership with professional baseball player Davis Schneider seeks to raise awareness of opioid poisoning preparedness across Canada GAITHERSBURG, Md., Aug. 31, 2026 (GLOBE NEWSWIRE) -- In recognition of International Overdose Awareness Day (IOAD), Emergent BioSolutions (NYSE: EBS) is reaffirming its commitment to expanding awareness of opioid overdose risks and increasing preparedness to help save lives. According to the World Health Organization, opioids are associated with nearly 80 percent of drug-related deaths worldwide, highlighting the continued need for education, preparedness and access to life-saving interventions.i As opioid overdose remains a significant global public health challenge, Emergent is focused on empowering people with the information and tools needed to act in the event of an opioid overdose emergency.

“Today is a reminder of the lives lost to opioid overdoses and serves as a key moment to stand with the families, friends and communities affected by this ongoing public health crisis,” said Paul Williams, senior vice president, head of products business, global government and public affairs at Emergent BioSolutions. “While progress has been made, more work remains. By expanding access, awareness and availability to NARCAN® Nasal Spray 4 mg and KLOXXADO® Nasal Spray 8 mg we can help more people recognize an opioid emergency and be prepared to act when every second counts.”

As part of these efforts, Emergent’s Ready to Rescue campaign will continue its collaboration with Release Recovery and its founder and CEO, Zac Clark, by visiting college campuses across the U.S. this fall. At these events, students, faculty and staff will hear Zac’s personal story, his ongoing work with Emergent and how to use life-saving naloxone. Through these events, Ready to Rescue will raise awareness about opioid emergencies and encourage everyone to carry NARCAN® Nasal Spray and be prepared to respond in an opioid emergency.

“As someone who has personally struggled with opioid dependency, I know that opioid overdose emergencies do not discriminate,” said Zac Clark, Founder and CEO of Release Recovery. “My own experience has fueled my passion for helping others and is one of the reasons I’m so proud of the work we do with the Ready to Rescue campaign. By continuing these conversations on college campuses, we can empower the next generation to carry NARCAN® Nasal Spray and be prepared to help save a life.”

NARCAN® Nasal Spray became the first U.S. FDA-approved over-the-counter (OTC) naloxone product to rapidly reverse known or suspected opioid overdoses in 2023. The same year, the U.S. saw its first of three consecutive annual declines in opioid overdose deaths,ii which experts believe is in part due to OTC naloxone access. In Canada, the opioid crisis continues to have a devastating toll, with an average of 15 lives lost each day to opioid poisonings, totaling more than 53,000 nationwide since 2016.iii To address the challenges of the Canadian crisis and break down the stigma, Emergent is continuing its partnership with professional baseball player Davis Schneider, whose involvement is deeply personal.

“My older brother Steven has inspired me to be kind to others and lead by example. As a registered nurse, brother and friend, he always showed up for others with compassion,” said Davis Schneider. “Losing him to an opioid overdose was a devastating loss for our family. That’s why I’m honored to partner with Emergent to raise awareness of opioid emergency preparedness and the importance of carrying NARCAN® Nasal Spray. Being prepared to act in a moment of crisis can mean the difference between life and loss.”

Davis Schneider is featured on the newly released episode of Emergent’s Countermeasures podcast alongside Dr. Bonnie Milas, Clinical Professor of Anesthesiology and Critical Care Medicine at the University of Pennsylvania to help further educate the public on opioid overdose risks.

NARCAN® Nasal Spray, when used as directed, can reverse the effects of an opioid overdose within minutes when administered promptly and followed by emergency medical assistance. By recognizing the signs of an opioid overdose, such as slowed or stopped breathing, pinpoint-sized pupils, unresponsiveness, or pale and clammy skin, and acting quickly with NARCAN® Nasal Spray, anyone can be prepared to help save a life.

Visit ReadytoRescue.com for educational resources about opioid emergency preparedness and learn more about NARCAN® Nasal Spray at NARCAN.com (U.S.) and NARCANNasalSpray.ca (Canada).

Zac Clark and Davis Schneider are paid spokespeople for Emergent.

About NARCAN® Nasal Spray
NARCAN® Naloxone HCl Nasal Spray 4 mg is the first FDA-approved, over-the-counter (OTC) 4 mg naloxone product for the emergency treatment of opioid overdose. NARCAN® Nasal Spray is not a substitute for emergency medical care. Repeat dosing may be necessary. Use as directed.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

_____________________________________________________________________
i https://www.who.int/news-room/fact-sheets/detail/opioid-overdose/
ii https://www.cdc.gov/nchs/pressroom/releases/20260513.html
iii https://www.canada.ca/en/public-health/news/2025/12/statement-from-the-council-of-chief-medical-officers-of-health---latest-national-data-on-substance-related-harms.html

NEW YORK, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Emergent BioSolutions Inc. (“Emergent” or the “Company”) (NYSE: EBS).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Emergent and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 5, 2026, Emergent reported results for the quarter ended June 30, 2026.  Among other items, Emergent announced, among other things, a $191.3 million non-cash impairment charge on the NARCAN asset group, driving a GAAP net loss of $180.2 million.  The Company also cut full year revenue guidance by approximately 10.8% at the midpoint.  Management attributed its results to “increased competitive intensity with implications for our near to medium term outlook and the book value of our NARCAN asset group.” 

On this news, Emergent’s stock price fell $2.23 per share, or 29.58%, to close at $5.31 per share on August 6, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Emergent BioSolutions Inc. (“Emergent BioSolutions” or the “Company”) (NYSE: EBS) investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN EMERGENT BIOSOLUTIONS INC. (EBS), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. Contact the Law Offices of Howard G. Smith to discus.

Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Emergent BioSolutions Inc. (“Emergent” or “the Company”) (NYSE: EBS) for violations of the securities laws.

INVESTIGATION DETAILS: The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Emergent revealed a $191.3 million non-cash impairment charge based on competition and pricing pressure on its NARCAN product line. Based on this news, shares of Emergent fell sharply.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260817756341/en/

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Emergent BioSolutions reported approximately $97 million in adjusted EBITDA for the quarter. The same period included a $191.3 million non-cash NARCAN impairment. Levi & Korsinsky is investigating potential securities law violations.

, /PRNewswire/ -- Emergent BioSolutions (NYSE: EBS) shareholders lost money as the stock sold off following the Company's second-quarter results, even as Emergent reported approximately $234 million in revenue and roughly $97 million in adjusted EBITDA. If you suffered a loss on your Emergent BioSolutions investment, you are encouraged to click here to submit your information . You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (212) 363-7500.

Here are the two numbers. Adjusted EBITDA was approximately $97 million, up sequentially. Included in the same quarter under GAAP: a $191.3 million non-cash impairment charge on NARCAN, attributed to increased competition and pricing pressure in naloxone. The single-quarter impairment charge was nearly twice the adjusted EBITDA figure highlighted for investors.

Levi & Korsinsky is investigating whether Emergent BioSolutions and certain of its officers may have violated federal securities laws in connection with the Company's reported results and the carrying value of its naloxone franchise.

Shareholders who lost money on EBS are encouraged to have their losses reviewed at no cost , or call (212) 363-7500.

Levi & Korsinsky, LLP  -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the EBS Investigation

Q: What is the EBS securities investigation about?  A: A securities investigation is pending concerning Emergent BioSolutions (NYSE: EBS) regarding potentially materially false or misleading statements. The Company reported approximately $97 million in adjusted EBITDA for the quarter while recording a $191.3 million non-cash NARCAN impairment tied to naloxone competition and pricing pressure. Shares declined and investors suffered losses.

Q: Who is eligible to participate in the EBS investigation?  A: Investors who purchased EBS stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Who is conducting the EBS investigation?  A: Levi & Korsinsky, LLP is investigating potential securities claims on behalf of investors who purchased EBS securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.

Q: What do EBS investors need to do right now?  A: Gather brokerage records showing purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected]  or (212) 363-7500.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my EBS shares -- can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought EBS and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected] 
Tel: (212) 363-7500
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

Also from this source

NEW YORK--(BUSINESS WIRE)--Emergent BioSolutions (NYSE: EBS) shareholders took losses after the Company disclosed a $191.3 million non-cash impairment on its NARCAN franchise, attributed to increased competition and pricing pressure in naloxone. If you suffered a loss on your Emergent BioSolutions investment, you are encouraged to click here to submit your information. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. NARCAN Nasal.

Emergent BioSolutions cut its FY2026 adjusted EBITDA outlook to $130-$150 million from $155-$175 million  amid continued NARCAN pricing and margin pressure, with NARCAN gross margin having fallen to 16% in Q1 2026. SueWallSt notifies investors of a pending investigation into potential securities law violations.

, /PRNewswire/ -- Emergent BioSolutions (NYSE: EBS) shareholders lost money when the Company lowered its FY2026 adjusted EBITDA guidance to $130-$150 million, down from the $155-$175 million range management had reaffirmed on its April 30, 2026 earnings call. Shareholders who suffered losses on EBS are encouraged to submit their information for a free case evaluation . You may also contact Joseph E. Levi, Esq. via email at [email protected]  or by telephone at (888) SueWallSt.

The original FY2026 outlook was issued on February 26, 2026. That same guidance was reaffirmed three months later, on April 30, 2026. Alongside the reduced outlook, Emergent recorded a $191.3 million non-cash NARCAN impairment attributed to increased naloxone competition and pricing pressure.

The underlying NARCAN weakness was reflected in the Company's earlier results. Fourth-quarter NARCAN revenue declined 41% year over year, which Emergent attributed to increased generic competition affecting both price and unit sales. NARCAN's commercial gross margin declined nine percentage points to 16%. Yet the February 26, 2026 earnings presentation accompanying the initial FY2026 guidance stated: "Maintained market leadership; pricing stabilized."

The investigation concerns whether Emergent BioSolutions adequately disclosed the cost and pricing pressures underlying its FY2026 outlook.

Investors who purchased EBS shares and lost money are encouraged to request an evaluation of their potential recovery . You may also contact Joseph E. Levi, Esq. at (888) SueWallSt.

WHY SUEWALLST : SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the EBS Investigation

Q: Which statements are being investigated as potentially misleading?  A: The investigation concerns whether Emergent BioSolutions made materially false or misleading statements regarding its FY2026 revenue and adjusted EBITDA outlook and the extent of naloxone pricing, competition, and margin pressures underlying that outlook. When the Company reduced its guidance and recorded a $191.3 million non-cash NARCAN impairment charge, its stock price declined.

Q: When did Emergent BioSolutions allegedly mislead investors? A: The investigation concerns statements made before the August 5, 2026 guidance reduction, including Emergent's FY2026 outlook issued on February 26, 2026 and its subsequent reaffirmation on April 30, 2026. The investigation examines whether those statements caused the Company's securities to trade at artificially inflated prices before the later disclosure.

Q: Who is eligible to participate in the EBS investigation?  A: Investors who purchased EBS stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What do EBS investors need to do right now?  A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation evaluation at [email protected]  or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my EBS shares -- can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought EBS and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected] 
Tel: (888) SueWallSt
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

3 Small-Cap Stocks to Watch After the Fed’s Rate CutsEmergent Biosolutions NYSE: EBS reported second-quarter 2026 revenue and adjusted EBITDA above its prior guidance and analyst consensus, driven by accelerated medical countermeasure deliveries to U.S. government customers. The company also lowered its full-year outlook as increased competition and pricing pressure in the naloxone market are expected to weigh on sales of NARCAN.

Revenue for the second quarter totaled $234 million, above the high end of the company’s prior guidance range of $185 million. Adjusted EBITDA was $97 million, representing a 41% margin, compared with $33 million and a 23% margin in the year-earlier period. Year-to-date revenue reached $390 million, up from $363 million in the first half of 2025, while adjusted EBITDA increased to $132 million from $112 million.

Get Emergent Biosolutions alerts:

Big Rallies Brewing? 3 Analyst Favorites to Watch CloselyChief Executive Officer Joseph Papa said the results reflected “strong execution and acceleration” of medical countermeasure, or MCM, deliveries during the quarter. MCM revenue totaled $168 million, which Papa said was the company’s highest second-quarter MCM revenue since 2020.

Medical Countermeasures Drive First-Half Performance Emergent said its MCM business remains a central growth driver, supported by contracts with the U.S. government and international customers. During the quarter, the company received a $52.7 million contract modification for ACAM2000 and a $64.5 million contract modification for botulism antitoxin. It secured more than 10 contract awards year to date.

Watch These 4 Overbought Stocks As Market Rotation ContinuesInternational MCM sales accounted for approximately 20% of total first-half 2026 MCM revenue, according to Papa. The company cited continued engagement with U.S. and allied governments amid heightened concerns about biodefense preparedness.

Papa also said Emergent is seeking to collaborate with artificial intelligence leaders and partners to address potential bioterrorism risks and improve preparedness. He noted that the company continues to pursue programs including TEMBEXA, Ebanga and Raxibacumab. The MOSA study in Africa, which is evaluating TEMBEXA in Mpox, has enrolled more than 100 patients, with additional sites being opened by the study sponsor and partners.

During the quarter, Emergent received Saudi Food and Drug Authority approval for ACAM2000 and approval from Singapore’s Health Sciences Authority to expand ACAM2000’s label to include an Mpox indication.

NARCAN Competition Prompts Restructuring and Impairment Management said the naloxone market changed late in the second quarter with a new 4-milligram over-the-counter nasal naloxone approval on June 16 and the anticipated August launch of a 10-milligram prescription product. The company also cited more aggressive pricing across the category.

Papa said Emergent believes NARCAN retains more than 50% of the naloxone market and remains the market leader. However, he said the company expects further price erosion as new competitors enter the market. Management expects overall naloxone unit demand to remain relatively flat.

In response, Emergent announced restructuring actions expected to generate about $40 million in annualized net savings. The measures include:

A reduction of approximately 90 positions; The closure of two wet laboratories in Maryland; The sale of an underutilized office building for $6.4 million; and An exit from a central warehouse lease. The company expects to incur approximately $11 million in costs to achieve the savings. Papa said the company will begin realizing some savings in 2026, with the full $40 million annualized run rate expected in 2027.

Chief Financial Officer Rich Lindahl said Emergent recorded a non-cash impairment charge of approximately $191 million during the second quarter related to the NARCAN asset group. The charge reflected the company’s revised assessment of expected future cash flows amid pricing and competitive developments. Lindahl said the impairment does not affect cash, liquidity, operating cash flow or adjusted EBITDA, but will reduce GAAP net income.

Emergent plans to seek growth in the commercial franchise through additional NARCAN offerings, including a carrying case, multipack configurations and wall kits.

Outlook Lowered on Commercial Revenue Pressure Emergent lowered its full-year 2026 revenue guidance to $645 million to $675 million, from a prior range of $720 million to $760 million. The revision primarily reflects lower expected commercial revenue in the second half due to increased NARCAN competition and naloxone pricing and volume pressure.

The company maintained its view that MCM revenue would be flat to slightly down for the full year, with the first-half benefit from accelerated deliveries already reflected in reported results.

GAAP net loss: $245 million to $225 million Adjusted net income: $10 million to $30 million Adjusted EBITDA: $130 million to $150 million, down from prior guidance of $155 million to $175 million Adjusted gross margin: 42% to 44% Third-quarter revenue: $110 million to $130 million At June 30, Emergent had $140 million in cash and $190 million in total liquidity. Gross debt was $590 million and net debt was $450 million. Lindahl said the company collected $145 million through July from accounts receivable outstanding at quarter-end, describing the collections as normal working-capital activity rather than a securitization or financing transaction.

The company completed a term loan refinancing in April, establishing a $150 million term loan maturing in 2031. Its board also authorized a $75 million program to repurchase senior unsecured notes. During the second quarter, Emergent repurchased 1.1 million shares for approximately $9 million, bringing year-to-date share repurchases to $18 million.

About Emergent Biosolutions (NYSE:EBS)Emergent BioSolutions is a global specialty biopharmaceutical company focused on developing, manufacturing and commercializing medical countermeasures and specialty products that address public health threats. The company's portfolio includes vaccines, antibody therapies and critical care products designed to protect against biological, chemical and emerging infectious disease threats. Emergent has longstanding partnerships with government agencies, including the U.S. Department of Defense and the Biomedical Advanced Research and Development Authority (BARDA), to support national preparedness programs.

Key commercial products in Emergent's lineup include BioThrax (anthrax vaccine adsorbed), ACAM2000 (smallpox vaccine) and Vaxchora (cholera vaccine), alongside therapeutic treatments such as Anthrasil (anthrax immune globulin) and the naloxone-based nasal spray Narcan for opioid overdose reversal.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Second Quarter 2026 Total Revenues of $234.3 million, an improvement of 66% versus prior yearSecond Quarter 2026 Net Loss of $180.2 million worsening 1,402% versus prior year, largely due to a $191.3 million non-cash impairment chargeSecond Quarter 2026 Adjusted Net Income of $30.9 million improved 134% versus prior yearSecond Quarter 2026 Gross Margin % of 50% and Adjusted Gross Margin % of 58%, an expansion of 1400 bps and 900 bps, respectively, versus prior yearSecond Quarter 2026 Adjusted EBITDA of $96.5 million and Adjusted EBITDA Margin of 41%, an improvement of 1,800 bps versus prior yearRestructuring business operations to align resourcing to current needs; expected to result in annualized savings of approximately $40 million when fully implemented GAITHERSBURG, Md., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today reported financial results for the second quarter ended June 30, 2026.

“Emergent delivered a strong second quarter, significantly exceeding the high end of our guidance range with revenues of $234 million, primarily driven by accelerated MCM/biodefense contract modifications secured with the U.S. government. This performance reflects the focus, discipline and commitment of our teams, and it reinforces the strength of our mission, our portfolio and the steadiness of our multi-year plan toward transformation," said Joe Papa, CEO of Emergent. "However, alongside of these strong results, we are at a critical juncture in our turnaround and transformation, primarily stemming from our naloxone business. Today we are implementing an organizational restructuring plan and taking proactive steps to strengthen our financial foundation, align the company to the realities of the naloxone business and preserve our ability to invest in the areas that matter most for Emergent’s future. Additionally, we seek to collaborate with AI partners for bioterrorism preparedness.”

FINANCIAL HIGHLIGHTS (1)

Q2 2026 vs. Q2 2025

($ in millions, except per share amounts)Q2 2026Q2 2025% ChangeTotal Revenues$234.3 $140.9 66%Net Loss$(180.2)$(12.0)(1,402)%Net Loss per Diluted Share$(3.49)$(0.22)(1,486)%Adjusted Net Income (2)$30.9 $13.2 134%Adjusted Net Income per Diluted Share (2)$0.60 $0.24 150%Adjusted EBITDA (2)$96.5 $33.1 192%Net Loss Margin(77)%(9)% Adjusted EBITDA Margin (2) 41% 23% Gross Margin % 50% 36% Adjusted Gross Margin % (2) 58% 49%  Year to Date ("YTD") 2026 vs YTD 2025

($ in millions, except per share amounts)YTD 2026YTD 2025% ChangeTotal Revenues$390.4 $363.1 8%Net Income (Loss)$(173.4)$56.0 (410)%Net Income (Loss) per Diluted Share$(3.35)$0.99 (438)%Adjusted Net Income (2)$42.8 $55.4 (23)%Adjusted Net Income per Diluted Share (2)$0.83 $0.98 (15)%Adjusted EBITDA (2)$132.0 $112.2 18%Net Income (Loss) Margin(44)% 15% Adjusted EBITDA Margin (2) 34% 31% Gross Margin % 46% 45% Adjusted Gross Margin % (2) 56% 55%          RECENT BUSINESS UPDATES

Secured contract modification from U.S. government and completed delivery of approximately $52.7 million of ACAM2000® (Smallpox and Mpox (Vaccinia) Vaccine, Live)Executed $64.5 million for BAT® (Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) – (Equine)) contract modification with U.S. governmentSecured two new strategic manufacturing partnerships with: SAB Biotherapeutics to advance its type 1 diabetes candidate, SAB-142Substipharm Biologics to support its Japanese Encephalitis vaccine in the United States; Refinanced term loan with new $150 million facility and amended asset-backed loan facilityAnnounced partnership with British Columbia to supply NARCAN® Nasal Spray for the launch of the expanded BC Take Home Naloxone ProgramSupported National Naloxone Awareness Day to increase awareness of life-saving naloxonePartnered with professional baseball player Davis Schneider to raise awareness of NARCAN® Nasal Spray in CanadaAnnounced launch of new NARCAN® Nasal Spray Carrying Case and multipack configurations to expand opioid overdose preparedness following U.S. FDA approvals on supplemental new drug applicationsReceived Saudi Food and Drug Authority Approval for ACAM2000® (Smallpox and Mpox (Vaccinia) Vaccine, Live)Received approval from Singapore Health Sciences Authority for expanded indication of ACAM2000® (Smallpox and Mpox (Vaccinia) Vaccine, Live) to include mpoxAnnounced participation in several international preparedness conferences RESTRUCTURING UPDATES

Efforts aim to improve overall cost structure, drive efficiencies and align resourcing to the current needs of the organization; includes reduction of approximately 90 rolesCreation of a new Growth organization that integrates the capabilities of R&D, Business Development, Strategy into one function led by Stephanie Duatschek, Senior Vice President, Chief Global Strategy & Franchise Development Officer, who will assume the role of Executive Vice President, Chief Growth Officer, with responsibility for the Company’s strategic growth SECOND QUARTER 2026 FINANCIAL PERFORMANCE (1)

Revenues

The Company uses the following categories in discussing revenues:

Naloxone — comprises contributions from NARCAN® Nasal Spray and KLOXXADO® Nasal SprayAnthrax MCM — comprises contributions from CYFENDUS®, BioThrax®, ANTHRASIL®, and RaxibacumabSmallpox MCM — comprises contributions from ACAM2000®, CNJ-016® (VIGIV) and TEMBEXA®Other Products — comprises contributions from BAT®All Other Revenues — comprises revenues from the Services operating segment and contracts and grants revenues ($ in millions)Q2 2026Q2 2025$ Change% ChangeProduct sales, net: (3)    Naloxone$52.4$67.5$(15.1)(22)%Anthrax MCM 12.3 11.6 0.7 6%Smallpox MCM 101.6 40.6 61.0 150%Other Products 54.1 6.2 47.9 NMTotal Product sales, net$220.4$125.9$94.5 75%     All other revenues$13.9$15.0$(1.1)(7)%     Total revenues$234.3$140.9$93.4 66%      Product Sales, net (3)

Naloxone

For Q2 2026, revenues from Naloxone products decreased $15.1 million, or 22%, as compared with Q2 2025. The decrease was primarily attributable to lower sales of OTC NARCAN®, mostly driven by an unfavorable price-volume mix in the U.S. public interest channels, partially mitigated by increases in Canadian sales of branded NARCAN® and KLOXXADO® sales.

Anthrax MCM

For Q2 2026, revenues from Anthrax MCM products increased $0.7 million, or 6%, as compared with Q2 2025. The increase was primarily attributable to a more favorable pricing mix driven by international sales of BioThrax®. This increase was partially offset by the absence of international sales of ANTHRASIL® in the current period, compared to international sales in the prior-year period. Anthrax vaccine product sales are primarily made under annual purchase options exercised by the USG. Fluctuations in revenues result from the timing of the exercise of annual purchase options, the timing of USG purchases, the availability of governmental funding and the Company’s delivery of orders that follow.

Smallpox MCM

For Q2 2026, revenues from Smallpox MCM products increased $61.0 million, or 150%, as compared with Q2 2025. The increase was primarily attributable to higher USG sales of ACAM2000® due to timing, higher CNJ-016® (VIGIV) sales with a more favorable price and volume mix of U.S. and international sales and higher TEMBEXA® international sales due to timing. Fluctuations in revenues from Smallpox MCM result from the timing of the exercise of annual purchase options in the existing procurement contracts, the timing of USG purchases, the availability of governmental funding and the Company’s delivery of orders that follow.

Other Products

For Q2 2026, revenues from Other Product sales increased $47.9 million as compared with Q2 2025. The increase was primarily due to higher USG and international BAT® sales due to timing.

All Other Revenues

Services

For Q2 2026, revenues from Services increased $2.0 million, or 45%, as compared with Q2 2025. The increase was primarily attributable to production activity at the Company’s Winnipeg facility.

Contracts and Grants

For Q2 2026, revenues from contracts and grants decreased $3.1 million, or 29%, as compared with Q2 2025. The decrease was primarily due to lower Ebanga® related development work, reflecting timing and nature of work performed.

Operating Expenses

($ in millions)Q2 2026Q2 2025$ Change% ChangeCost of product and services sales, net$97.1$66.9$30.2 45%Research and development (“R&D”) 9.2 12.5 (3.3)(26)%Selling, general and administrative (“SG&A”) 44.6 43.7 0.9 2%Amortization of intangible assets 17.2 16.2 1.0 6%Impairment of long-lived assets 191.3 — 191.3 NMTotal operating expenses$359.4$139.3$220.1 158%           Cost of Product and Services Sales, Net

For Q2 2026, cost of product and services sales, net increased $30.2 million, or 45%, as compared with Q2 2025. The increase was driven by higher cost of MCM Product sales of $27.0 million and cost of Services of $3.3 million, partially offset by a decrease in cost of Commercial Product sales of $0.1 million.

Research and Development Expenses

For Q2 2026, R&D expenses decreased $3.3 million, or 26%, as compared with Q2 2025. The decrease was primarily due to lower project spend on Ebanga® related development work.

Selling, General and Administrative Expenses

For Q2 2026, SG&A expenses increased $0.9 million, or 2%, as compared with Q2 2025. The increase was primarily due to lower insurance reimbursement benefits recognized in the current year period compared with the prior year period, partially offset by lower compensation, marketing and administrative support expenses.

Impairment of Long-Lived Assets

For Q2 2026, impairment of long-lived assets was $191.3 million. This was the result of a non-cash impairment charge in the second quarter of 2026 related to our NARCAN® asset group within the Commercial reporting unit.

ADDITIONAL FINANCIAL INFORMATION(1)

Capital Expenditures

($ in millions)Q2 2026Q2 2025% ChangeCapital expenditures$2.1 $2.9 (28)%Capital expenditures as a % of total revenues 1% 2%          For Q2 2026, capital expenditures decreased largely due to reduced development activities across the Company’s facilities.

REPORTABLE SEGMENT INFORMATION

The Company manages the business with a focus on three operating segments: (1) a Commercial Products segment consisting of NARCAN® Nasal Spray and KLOXXADO® Nasal Spray; (2) a MCM Products segment consisting of Anthrax - MCM, Smallpox - MCM and Other products and (3) a services segment consisting of our Bioservices offerings (“Services”). Commercial Products and MCM Products are our two reportable segments. The Services operating segment no longer meets the quantitative thresholds of a reportable segment and did not meet the aggregation criteria set forth in Accounting Standards Codification 280, Segment Reporting, and as such is categorized within “All other revenues” along with “Contracts and Grants”. The Company evaluates the performance of these reportable segments based on revenues and segment adjusted gross margin, which is a non-GAAP financial measure. Segment revenue includes external customer sales but does not include inter-segment services. The Company does not allocate contracts and grants revenue, R&D, SG&A, amortization of intangible assets, interest and other income (expense) or taxes to its evaluation of the performance of these segments.

SECOND QUARTER 2026 REPORTABLE SEGMENT RESULTS

($ in millions)Commercial ProductsQuarter Ended June 30, 2026  2025 $ Change% ChangeRevenues$52.4 $67.5 $(15.1)(22)%Cost of sales 36.3  36.4  (0.1)—%Intangible asset amortization 9.4  9.4  — —%Gross margin*$6.7 $21.7 $(15.0)(69)%Gross margin %* 13% 32%  Add back:    Intangible asset amortization$9.4 $9.4   Severance and restructuring costs —  0.2   Stock-based compensation expense 0.1  —   Segment adjusted gross margin **$16.2 $31.3 $(15.1)(48)%Segment adjusted gross margin % ** 31% 46%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our Commercial Products segment is calculated as gross margin plus intangible asset amortization, severance and restructuring costs and the portion of stock-based compensation expense that is recorded as cost of sales. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. In calculating these measures, we began excluding stock-based compensation that is recorded as cost of sales in the first quarter of 2026, as this reflects a non-cash expenditure that is not related to segment operating performance. As reflected in the table above, we have recast our 2025 results to also reflect this adjustment. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.NM - Not meaningful  Cost of Commercial Products sales decreased $0.1 million to $36.3 million for the quarter ended June 30, 2026. Despite decreases in U.S. sales volumes of OTC NARCAN® compared with the prior year period, cost of sales remained substantially flat due to increased costs and volumes associated with KLOXXADO® sales and Canadian sales of branded NARCAN®.

Commercial Products gross margin decreased $15.0 million, or 69%, to $6.7 million for the quarter ended June 30, 2026. Commercial Products gross margin percentage decreased 19 percentage points to 13% for the quarter ended June 30, 2026. The decrease was largely due to an unfavorable price and volume mix of OTC NARCAN® across most U.S. sales channels, partially offset by lower product costs related to Canadian sales. Commercial Products segment adjusted gross margin in the current year period excludes the impact of intangible asset amortization of $9.4 million and the portion of stock-based compensation expense recorded as cost of sales of $0.1 million.

($ in millions)MCM ProductsQuarter Ended June 30, 2026  2025 $ Change% ChangeRevenues$168.0 $58.4 $109.6188%Cost of sales 52.8  25.8  27.0105%Intangible asset amortization 7.8  6.8  1.015%Gross margin*$107.4 $25.8 $81.6NMGross margin %* 64% 44%  Add back:    Intangible asset amortization$7.8 $6.8   Inventory step-up provision 0.2  —   Severance and restructuring benefit —  (0.4)  Stock-based compensation expense 0.7  0.3   Segment adjusted gross margin**$116.1 $32.5 $83.6NMSegment adjusted gross margin %** 69% 56%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our MCM Products segment is calculated as gross margin plus intangible asset amortization, inventory step-up provision, severance and restructuring benefit and the portion of stock-based compensation expense that is recorded as cost of sales. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. In calculating these measures, we began excluding stock-based compensation that is recorded as cost of sales in the first quarter of 2026, as this reflects a non-cash expenditure that is not related to segment operating performance. As reflected in the table above, we have recast our 2025 results to also reflect this adjustment. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.NM - Not Meaningful  Cost of MCM product sales increased $27.0 million, or 105%, to $52.8 million for the quarter ended June 30, 2026. The increase was primarily attributable to higher product sales volumes for BAT®, ACAM2000®, CNJ-016® (VIGIV), BioThrax®, and TEMBEXA®, as well as a significant non-recurring manufacturing cost related to the production of CYFENDUS®. These increases were partially offset by a decrease in cost of sales for ANTHRASIL® driven by lower sales volumes.

MCM Products gross margin increased $81.6 million to $107.4 million for the quarter ended June 30, 2026. MCM Product gross margin percentage increased 20 percentage points to 64% for the quarter ended June 30, 2026. The increase in gross margin percentage was primarily driven by a more favorable sales mix and increased sales volumes, which improved absorption of fixed manufacturing costs. These improvements were partially offset by a significant non-recurring manufacturing cost related to the production of CYFENDUS®. MCM Product segment adjusted gross margin in the current year period excludes the impacts of intangible asset amortization of $7.8 million, the portion of stock-based compensation expense recorded as cost of sales of $0.7 million and inventory step-up provision of $0.2 million.

YTD 2026 REPORTABLE SEGMENT RESULTS

($ in millions)Commercial ProductsSix Months Ended June 30, 2026  2025 $ Change% ChangeRevenues$95.3 $112.8 $(17.5)(16)%Cost of sales 63.1  60.9  2.2 4%Intangible asset amortization 18.9  18.9  — —%Gross margin*$13.3 $33.0 $(19.7)(60)%Gross margin %* 14% 29%  Add back:    Intangible asset amortization$18.9 $18.9   Severance and restructuring costs —  0.2   Stock-based compensation expense 0.1  —   Segment adjusted gross margin**$32.3 $52.1 $(19.8)(38)%Segment adjusted gross margin %** 34% 46%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our Commercial Products segment is calculated as gross margin plus intangible asset amortization, severance and restructuring costs and the portion of stock-based compensation expense that is recorded as cost of sales. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. In calculating these measures, we began excluding stock-based compensation that is recorded as cost of sales in the first quarter of 2026, as this reflects a non-cash expenditure that is not related to segment operating performance. As reflected in the table above, we have recast our 2025 results to also reflect this adjustment. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.NM - Not Meaningful  Cost of Commercial Product sales increased $2.2 million, or 4%, to $63.1 million for the six months ended June 30, 2026. The increase was primarily due higher KLOXXADO® sales and Canadian sales of branded NARCAN®, largely offset by lower sales volumes of OTC NARCAN® in the U.S.

Commercial Products gross margin decreased $19.7 million, or 60%, to $13.3 million for the six months ended June 30, 2026. Commercial Products gross margin percentage decreased 15 percentage points to 14% for the six months ended June 30, 2026. The decrease was largely due to an unfavorable price and volume mix of OTC NARCAN® across all U.S. sales channels and product mix due to the introduction of KLOXXADO®, partially offset by lower product costs related to the Canadian sales. Commercial Products segment adjusted gross margin in the current year period excludes the impact of intangible asset amortization of $18.9 million and the portion of stock-based compensation expense recorded as cost of sales of $0.1 million.

($ in millions)MCM ProductsSix Months Ended June 30, 2026  2025 $ Change% ChangeRevenues$269.8 $215.0 $54.825%Cost of sales 89.6  76.0  13.618%Intangible asset amortization 14.8  13.6  1.29%Gross margin*$165.4 $125.4 $40.032%Gross margin %* 61% 58%  Add back:    Intangible asset amortization$14.8 $13.6   Severance and restructuring benefit —  (1.2)  Inventory step-up provision 0.3  1.8   Stock-based compensation expense 1.2  0.6   Segment adjusted gross margin**$181.7 $140.2 $41.530%Segment adjusted gross margin %** 67% 65%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our MCM Products segment is calculated as gross margin plus intangible asset amortization, inventory step-up provision, severance and restructuring benefit and the portion of stock-based compensation expense that is recorded as cost of sales. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. In calculating these measures, we began excluding stock-based compensation that is recorded as cost of sales in the first quarter of 2026, as this reflects a non-cash expenditure that is not related to segment operating performance. As reflected in the table above, we have recast our 2025 results to also reflect this adjustment. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.NM - Not Meaningful  Cost of MCM product sales increased $13.6 million, or 18%, to $89.6 million for the six months ended June 30, 2026. The increase was primarily due to higher cost of sales of BAT®, CNJ-016® (VIGIV) and BioThrax®, reflecting increased sales volumes as well as increased non-recurring manufacturing costs related to production of CYFENDUS®. These increases were partially offset by lower cost of sales for ANTHRASIL® and TEMBEXA® due to lower unit sales volume.

MCM Product gross margin increased $40.0 million, or 32%, to $165.4 million for the six months ended June 30, 2026. MCM Product gross margin percentage increased 3 percentage points to 61% for the six months ended June 30, 2026. The increase in gross margin percentage was primarily due to a favorable sales volume and product mix which was weighted more heavily towards higher margin products, the margin improvements were partially offset by non-recurring manufacturing costs mentioned above. MCM Product segment adjusted gross margin in the current year period excludes the impacts of intangible asset amortization of $14.8 million, the portion of stock-based compensation expense recorded as cost of sales of $1.2 million and inventory step-up provision of $0.3 million.

2026 FINANCIAL FORECAST

The Company provides the following updated financial forecast for full year 2026, reflecting management's expectations based on the most current information available.

METRIC
($ in millions)Updated Range
(as of 08/05/2026)ActionPrevious Range
(as of 04/30/2026)Total revenues$645 - $675REVISED$720 - $760Net loss$(245) - $(225)REVISED$(30) - $(10)Adjusted net income (2)$10 - $30REVISED$45 - $65Adjusted EBITDA (2)$130 - $150REVISED$155 - $175Adjusted gross margin % (2)42% - 44%REVISED45% - 47%     Key Assumptions
($ and shares in millions)Updated Range
(as of 08/05/2026)Interest expense~$40R&D~6% of RevenuesSG&A~27% to 28% of RevenuesWeighted avg. fully diluted share count~52Stock-based compensation expense~$19Capex~$17Depreciation & amortization~$82   Q2 2026

METRIC
($ in millions)                                  Q3 2026 ForecastTotal revenues$110 - $130   FOOTNOTES

(1) All financial information included in this release is unaudited.

(2) See “Non-GAAP Financial Measures” and the “Reconciliation of Non-GAAP Financial Measures” tables for the definitions and reconciliations of Company-wide non-GAAP financial measures to the most closely related GAAP financial measures. Reconciliations of segment non-GAAP financial measures are included within the reportable segment tables. In the first quarter of 2026 we revised our calculations of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. The updated ranges for our 2026 forecast reflect this adjustment.

(3) Product sales, net are reported net of variable consideration including returns, rebates, wholesaler fees and prompt pay discounts in accordance with GAAP.

CONFERENCE CALL, PRESENTATION SUPPLEMENT AND WEBCAST INFORMATION

Company management will host a conference call at 5:00 pm eastern time today, August 5, 2026, to discuss these financial results. The conference call and presentation supplement can be accessed from the Company's website or through the following:

By phone
Advanced registration is required.
Visit https://register-conf.media-server.com/register/BI77a0454e68eb4a728e6c2ddddee54766 to register and receive an email with the dial-in number, passcode and registrant ID.

By webcast
Visit https://edge.media-server.com/mmc/p/fjwb9v5g/ 
A replay of the call can be accessed from the Emergent website.

ABOUT EMERGENT BIOSOLUTIONS INC.

At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

NON-GAAP FINANCIAL MEASURES

In the accompanying analysis of financial information, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Certain of these financial measures are considered not in conformity with GAAP (“non-GAAP financial measures”) under the United States Securities and Exchange Commission (“SEC”) rules. Specifically, we have referred to the following non-GAAP financial measures:

Adjusted Net IncomeAdjusted Net Income per Diluted ShareAdjusted EBITDAAdjusted EBITDA MarginAdjusted Gross MarginAdjusted Gross Margin %Segment Adjusted Gross MarginSegment Adjusted Gross Margin % We define Adjusted Net Income and Adjusted Net Income per Diluted Share, which are non-GAAP financial measures, as net income (loss) and net income (loss) per diluted share, respectively, excluding the impact of non-cash amortization charges, impairments, severance and restructuring costs (benefits), inventory step-up provision, acquisition and divestiture costs, loss on assets held for sale, contingent consideration milestones, changes in fair value of financial instruments, stock-based compensation expense, loss on debt extinguishment, other, net, and tax effects. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. We use Adjusted Net Income for the purpose of calculating Adjusted Net Income per Diluted Share. Management uses Adjusted Net Income per Diluted Share to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with an additional understanding of our business operating results, including underlying trends.

We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income (loss) before depreciation and amortization, income taxes, total interest expense, net, impairments, inventory step-up provision, changes in fair value of financial instruments, severance and restructuring costs (benefits), acquisition and divestiture costs, loss on assets held for sale, contingent consideration milestones, stock-based compensation expense, loss on debt extinguishment, and other, net. We define Adjusted EBITDA Margin, which is a non-GAAP financial measure, as Adjusted EBITDA divided by Total Revenues. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry, although it may be defined differently by different companies. Therefore, we also believe that this non-GAAP financial measure, considered along with corresponding GAAP financial measures, provides management and investors with additional information for comparison of our operating results with the operating results of other companies.

We define Adjusted Gross Margin, which is a non-GAAP financial measure, as Gross Margin, excluding the impact of intangible asset amortization, stock-based compensation expense, severance and restructuring costs (benefits) and inventory step-up provision. We define Adjusted Gross Margin %, which is a non-GAAP financial measure, as Adjusted Gross Margin as a percentage of Products and services sales, net. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance.

We define Segment Adjusted Gross Margin, which is a non-GAAP financial measure, as a segment's Gross Margin excluding the respective impact of intangible asset amortization, severance and restructuring costs (benefits), stock-based compensation expense and inventory step-up provision. We define Segment Adjusted Gross Margin %, which is a non-GAAP financial measure, as Segment Adjusted Gross Margin as a percentage of a segment's revenues. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to segment operating performance.

Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. The determination of the amounts that are excluded from these non-GAAP financial measures are a matter of management judgment and depend upon, among other factors, the nature of the underlying expense or income amounts. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Consolidated Statements of Operations and Consolidated Statements of Cash Flows. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.

SAFE HARBOR STATEMENT

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, including statements regarding the future performance of the Company or any of our businesses, our business strategy, future operations, future financial position, future revenues and earnings, our ability to achieve the objectives of our restructuring initiatives, acquisitions and divestitures, including our future results, projected costs, prospects, plans and objectives of management, are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “confident,” “commit,” “forecast,” “future,” “outlook,” “goal,” “intend,” “may,” “plan,” “position,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. These forward-looking statements are based on our current intentions, beliefs, assumptions and expectations regarding future events based on information that is currently available. You should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement contained herein. Any such forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake any obligation to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements, including, among others, the availability of USG funding for contracts related to procurement of our medical countermeasures (“MCM”) products, including CYFENDUS® (Anthrax Vaccine Adsorbed (AVA) Adjuvanted), previously known as AV7909, ACAM2000® (Smallpox and Mpox (Vaccinia) Vaccine, Live), CNJ-016® (Vaccinia Immune Globulin Intravenous (Human) (VIGIV)), BAT® (Botulism Antitoxin Heptavalent (A,B,C,D,E,F,G)-(Equine)), BioThrax® (Anthrax Vaccine Adsorbed) Ebanga® (ansuvimab-zykl) and/or TEMBEXA® (brincidofovir) among others, as well as contracts related to development of medical countermeasures; our ability to meet our commitments to quality and compliance in all of our manufacturing operations; our ability to negotiate additional USG procurement or follow-on contracts for our MCM products that have expired or will be expiring; the commercial availability and impact of a generic and competitive marketplace on future sales of NARCAN® (naloxone HCL) Nasal Spray, over-the-counter NARCAN® Nasal Spray and KLOXXADO® Nasal Spray; our ability to perform under our contracts with the USG, including the timing of and specifications relating to deliveries; the ability of our contractors and suppliers to maintain compliance with current good manufacturing practices and other regulatory obligations; our ability to collect reimbursement for raw materials and payment of service fees from our Bioservices customers; the results of pending government investigations and their potential impact on our business; our ability to satisfy the conditions of our litigation settlement agreements, and the potential impact of such agreements, including the funds to resolve related litigation, on our business; our ability to comply with the operating and financial covenants required by (i) our term loan facility under the Credit Agreement, dated April 16, 2026, by and among the Company, the lenders from time to time party thereto, and OrbiMed Royalty & Credit Opportunities V, LP, as administrative agent, (ii) our revolving credit facility under a credit agreement, dated September 30, 2024, among the Company, certain subsidiary borrowers, the lenders from time to time party thereto and Wells Fargo, National Association, as Agent, and (iii) our 3.875% Senior Unsecured Notes due 2028; our ability to maintain adequate internal control over financial reporting and to prepare accurate financial statements in a timely manner; our ability to maintain sufficient cash flow from our operations to pay our substantial debt, both now and in the future; our ability to invest in our business operations as a result of our current indebtedness; the impact of our share and debt repurchase programs; the procurement of our product candidates by USG entities under regulatory authorities that permit government procurement of certain medical products prior to FDA marketing authorization, and corresponding procurement by government entities outside the United States; the success of our commercialization, marketing and manufacturing capabilities and strategy; our ability to identify and acquire companies, businesses, products or product candidates that satisfy our selection criteria; our ability to attract and retain qualified personnel; our ability to adequately secure and protect our intellectual property rights; the impact of cybersecurity incidents, including the risks from the unauthorized access, interruption, failure or compromise of our information systems or those of our business partners, collaborators or other third parties; and the accuracy of our estimates regarding future revenues, expenses, capital requirements and need for additional financing. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ materially from our expectations in any forward-looking statement. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any forward-looking statements. Readers should consider this cautionary statement, as well as the risks identified in our periodic reports filed with the Securities and Exchange Commission, when evaluating our forward-looking statements.

Trademarks

Emergent®, BioThrax®, BaciThrax®, BAT®, Trobigard®, ANTHRASIL®, CNJ-016®, ACAM2000®, ​NARCAN®, CYFENDUS®, TEMBEXA® and any and all Emergent BioSolutions Inc. brands, products, services and feature names, logos and slogans are trademarks or registered trademarks of Emergent BioSolutions Inc. or its subsidiaries in the United States or other countries. All other brands, products, services and feature names or trademarks are the property of their respective owners, including KLOXXADO®, which is a registered trademark of Hikma Pharmaceuticals USA Inc.

Emergent BioSolutions Inc.
Consolidated Balance Sheets
(in millions, except per share data)
     June 30, 2026 December 31, 2025(unaudited)  ASSETS   Current assets:   Cash and cash equivalents$139.7  $205.4 Restricted cash 1.2   3.7 Accounts receivable, net 190.0   84.2 Inventories, net 303.6   343.4 Prepaid expenses and other current assets 25.4   25.8 Assets held-for-sale 6.1   — Total current assets 666.0   662.5     Property, plant and equipment, net 178.0   205.4 Intangible assets, net 261.8   436.5 Other assets 11.0   14.2 Total assets$1,116.8  $1,318.6     LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$50.2  $55.6 Accrued expenses 17.1   12.2 Accrued compensation 26.2   41.8 Deferred revenue 15.0   5.0 Current tax liability 4.4   6.8 Other current liabilities 9.9   10.8 Total current liabilities 122.8   132.2     Debt 581.8   572.1 Deferred tax liability 35.4   37.8 Other liabilities 35.4   53.9 Total liabilities$775.4  $796.0     Stockholders’ equity:   Preferred stock, $0.001 par value per share; 15.0 shares authorized, no shares issued and outstanding —   — Common stock, $0.001 par value per share; 200.0 shares authorized, 61.9 and 60.9 shares issued; 51.3 and 52.1 shares outstanding, respectively. 0.1   0.1 Treasury stock, at cost, 10.7 and 8.7 common shares, respectively (270.5)  (252.6)Additional paid-in capital 951.8   942.4 Accumulated other comprehensive loss, net (6.8)  (7.5)Accumulated deficit (333.2)  (159.8)Total stockholders’ equity$341.4  $522.6 Total liabilities and stockholders’ equity$1,116.8  $1,318.6          Emergent BioSolutions Inc.
Consolidated Statements of Operations
(unaudited, in millions, except per share data)
     Three Months Ended June 30, Six Months Ended June 30, 2026   2025   2026   2025 Revenues:       Product and services sales, net$226.8  $130.3  $376.5  $339.4 Contracts and grants 7.5   10.6   13.9   23.7 Total revenues 234.3   140.9   390.4   363.1         Operating expenses:       Cost of product and services sales, net (1) 97.1   66.9   169.1   155.4 Research and development 9.2   12.5   19.7   27.6 Selling, general and administrative 44.6   43.7   91.2   96.1 Amortization of intangible assets 17.2   16.2   33.7   32.5 Impairment of long-lived assets 191.3   —   191.3   — Total operating expenses 359.4   139.3   505.0   311.6         Income (loss) from operations (125.1)  1.6   (114.6)  51.5         Other income (expense):       Interest expense (10.0)  (14.7)  (21.0)  (29.4)Loss on assets held-for-sale (10.7)  —   (10.7)  (12.2)Loss on debt extinguishment (20.5)  —   (20.5)  — Other, net —   (3.7)  13.9   66.0 Total other income (expense), net (41.2)  (18.4)  (38.3)  24.4         Income (loss) before income taxes (166.3)  (16.8)  (152.9)  75.9 Income tax provision (benefit) 13.9   (4.8)  20.5   19.9 Net income (loss)$(180.2) $(12.0) $(173.4) $56.0         Earnings (loss) per common share       Basic$(3.49) $(0.22) $(3.35) $1.03 Diluted$(3.49) $(0.22) $(3.35) $0.99         Weighted average shares outstanding       Basic 51.6   54.2   51.7   54.3 Diluted 51.6   54.2   51.7   56.7                 (1) Exclusive of intangible asset amortization          Emergent BioSolutions Inc.
Consolidated Statements of Cash Flows
(unaudited, in millions)   Six Months Ended June 30, 2026   2025 Operating Activities   Net income (loss)$(173.4) $56.0 Adjustments to reconcile net income to net cash provided by operating activities:   Stock-based compensation expense 8.8   6.1 Depreciation and amortization 47.5   48.9 Amortization of deferred financing costs 3.4   4.7 Deferred income taxes (2.4)  4.7 Noncash loss on assets held-for-sale 10.7   12.2 Change in fair value of warrant liability (8.9)  (6.6)Impairment of long-lived assets 191.3   — Loss on disposal of assets 2.0   1.3 Other 19.8   (9.1)Changes in operating assets and liabilities:   Accounts receivable (107.7)  45.2 Inventories 39.8   (26.9)Prepaid expenses and other assets (0.6)  29.2 Accounts payable (4.4)  (15.8)Accrued expenses and other liabilities 1.2   (28.3)Long-term incentive plan accrual 0.4   1.6 Accrued compensation (16.0)  (26.3)Income taxes receivable and payable, net 4.3   (1.6)Contract liabilities 6.5   (0.1)Net cash provided by operating activities 22.3   95.2 Investing Activities   Purchases of property, plant and equipment (4.5)  (6.5)Proceeds from sale of property, plant and equipment 0.2   38.2 Milestone payment from prior asset acquisition (50.4)  — Milestone proceeds from prior asset divestiture —   50.0 Purchase of convertible note receivable —   (5.0)Net cash provided by (used in) investing activities (54.7)  76.7 Financing Activities   Purchases of treasury stock (18.0)  (6.9)Proceeds from stock-based compensation activity 1.4   0.8 Taxes paid for stock-based compensation activity (3.2)  (0.7)Repayment of prior term loan facility (150.0)  — Proceeds from the issuance of debt, net of lender fees 145.5   — Debt issuance and extinguishment costs (11.5)  — Net cash used in financing activities: (35.8)  (6.8)Effect of exchange rate changes on cash, cash equivalents and restricted cash —   0.3 Net change in cash, cash equivalents and restricted cash (68.2)  165.4 Cash, cash equivalents and restricted cash, beginning of period 209.1   105.6 Cash, cash equivalents and restricted cash, end of period$140.9  $271.0 Supplemental cash flow disclosures:   Cash paid for interest$16.6  $24.8 Cash paid for income taxes, net of refunds$9.6  $16.6 Non-cash investing and financing activities:   Purchases of property, plant and equipment unpaid at period end$2.6  $2.2 Loss on extinguishment of debt$(20.5) $— Excise tax liability accrued for treasury stock purchases$0.2  $— Reconciliation of cash and cash equivalents and restricted cash:   Cash and cash equivalents$139.7  $267.3 Restricted cash 1.2   3.7 Total$140.9  $271.0          Emergent BioSolutions Inc.
Reconciliation of Non-GAAP Financial Measures
Reconciliation of Net Income (loss) and Net Income (loss) per Diluted Share to Adjusted Net Income and Adjusted Net Income per Diluted Share(1)
     ($ in millions, except per share data)
Three Months Ended June 30, Six Months Ended June 30,  2026  2025   2026  2025 SourceNet income (loss)$(180.2)$(12.0) $(173.4)$56.0  Adjustments:      Inventory step-up provision$0.2 $—  $0.3 $1.8 Cost of product and services sales, netSeverance and restructuring costs (benefits) 0.5  0.5   0.7  (0.8)Cost of product and services sales, net, SG&A and R&DStock-based compensation expense 6.9  4.6   8.8  6.1 Cost of product and services sales, net, SG&A and R&DAcquisition and divestiture costs —  —   —  0.2 SG&ANon-cash amortization charges 18.8  18.7   37.2  37.2 Amortization of intangible assets ("IA"), Other IncomeImpairments 191.3  —   191.3  — Impairment of long-lived assetsLoss on assets held-for-sale 10.7  —   10.7  12.2 Other Income (Expense)Contingent consideration milestones —  —   (5.0) (50.0)Other Income (Expense)Changes in fair value of financial instruments (0.5) 2.9   (9.0) (6.6)Other Income (Expense)Loss on debt extinguishment 20.5  —   20.5  — Other Income (Expense)Other, net —  5.0   (0.3) (2.9)Other Income (Expense)Tax effect (37.3) (6.5)  (39.0) 2.2  Total adjustments:$211.1 $25.2  $216.2 $(0.6) Adjusted net income$30.9 $13.2  $42.8 $55.4  Net income (loss) per diluted share$(3.49)$(0.22) $(3.35)$0.99  Adjustments:      Inventory step-up provision$— $—  $0.01 $0.03 Cost of product and services sales, netSeverance and restructuring costs (benefits) 0.01  0.01   0.01  (0.01)Cost of product and services sales, net, SG&A and R&DStock-based compensation expense 0.13  0.08   0.17  0.11 Cost of product and services sales, net, SG&A and R&DAcquisition and divestiture costs —  —   —  — SG&ANon-cash amortization charges 0.36  0.35   0.72  0.66 Amortization of IA, Other IncomeImpairments 3.71  —   3.70  — Impairment of long-lived assetsLoss on assets held-for-sale 0.21  —   0.21  0.22 Other Income (Expense)Contingent consideration milestones —  —   (0.10) (0.88)Other Income (Expense)Changes in fair value of financial instruments (0.01) 0.05   (0.17) (0.12)Other Income (Expense)Loss on debt extinguishment 0.40  —   0.40  — Other Income (Expense)Other, net —  0.09   (0.01) (0.05)Other Income (Expense)Tax effect (0.72) (0.12)  (0.76) 0.03  Total adjustments:$4.09 $0.46  $4.18 $(0.01) Adjusted net income per diluted share$0.60 $0.24  $0.83 $0.98  Diluted shares used in computing Adjusted net income per diluted share 51.6  54.2   51.7  56.7         (1) Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions Inc.Reconciliation of Net Income (loss) and Net Income (loss) Margin to Adjusted EBITDA and Adjusted EBITDA Margin(1)

    ($ in millions)Three Months Ended June 30, Six Months Ended June 30, 2026  2025   2026  2025 Net income (loss)$(180.2)$(12.0) $(173.4)$56.0 Adjustments:     Depreciation & amortization$24.0 $23.5  $47.5 $48.9 Income taxes 13.9  (4.8)  20.5  19.9 Total interest expense, net 9.2  13.4   19.4  27.4 Inventory step-up provision 0.2  —   0.3  1.8 Severance and restructuring costs (benefits) 0.5  0.5   0.7  (0.8)Stock-based compensation expense 6.9  4.6   8.8  6.1 Acquisition and divestiture costs —  —   —  0.2 Impairments 191.3  —   191.3  — Loss on assets held-for-sale 10.7  —   10.7  12.2 Contingent consideration milestones —  —   (5.0) (50.0)Changes in fair value of financial instruments (0.5) 2.9   (9.0) (6.6)Loss on debt extinguishment 20.5  —   20.5  — Other, net —  5.0   (0.3) (2.9)Total adjustments$276.7 $45.1  $305.4 $56.2 Adjusted EBITDA$96.5 $33.1  $132.0 $112.2       Total revenues$234.3 $140.9  $390.4 $363.1       Net income (loss) margin(77)%(9)% (44)% 15%Adjusted EBITDA margin 41% 23%  34% 31%      (1) Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions Inc.Reconciliations of Total Revenues to Product and Services Sales, Net and of Gross Margin and Gross Margin %
to Adjusted Gross Margin and Adjusted Gross Margin %(1)

     Three Months Ended June 30, Six Months Ended June 30,($ in millions) 2026  2025   2026  2025 Total revenues$234.3 $140.9  $390.4 $363.1 Contracts and grants 7.5  10.6   13.9  23.7 Product and services sales, net$226.8 $130.3  $376.5 $339.4       Cost of product and services sales, net 97.1  66.9   169.1  155.4 Intangible asset amortization 17.2  16.2   33.7  32.5 Gross margin$112.5 $47.2  $173.7 $151.5 Gross margin % 50% 36%  46% 45%Add back:     Intangible asset amortization$17.2 $16.2  $33.7 $32.5 Stock-based compensation expense 0.9  0.3   1.4  0.6 Severance and restructuring costs (benefits) 0.1  (0.1)  0.1  (1.0)Inventory step-up provision 0.2  —   0.3  1.8 Adjusted gross margin$130.9 $63.6  $209.2 $185.4 Adjusted gross margin % 58% 49%  56% 55%      (1) Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions Inc.
Reconciliation of Net Loss Forecast to Adjusted Net Income Forecast
   ($ in millions)2026 Full Year ForecastSourceNet loss$(245) - $(225) Adjustments:  Inventory step-up provision$4Cost of products and services, netSeverance and restructuring costs11Cost of products and services, net, SG&A and R&DStock-based compensation expense19COGS, R&D and SGANon-cash amortization charges63Amortization of IA and Other Income (Expense)Impairments191Impairment of long-lived assetsLoss on assets held-for-sale11Other Income (Expense)Contingent consideration milestones(10)Other Income (Expense)Changes in fair value of financial instruments(9)Other Income (Expense)Loss on debt extinguishment21Other Income (Expense)Tax effect(46) Total adjustments:$255 Adjusted net income$10 - $30     Reconciliation of Net Loss Forecast to Adjusted EBITDA Forecast
  ($ in millions)2026 Full Year ForecastNet loss$(245) - $(225)Adjustments: Depreciation & amortization$82Income taxes15Total interest expense, net40Inventory step-up provision4Severance and restructuring costs11Stock-based compensation expense19Impairments191Loss on assets held-for-sale11Contingent consideration milestones(10)Changes in fair value of financial instruments(9)Loss on debt extinguishment21Total adjustments$375Adjusted EBITDA$130 - $150   Emergent BioSolutions Inc.Reconciliations of Forecasted Total Revenues to Forecasted Product and Services Sales, Net and of Forecasted Gross Margin and Gross Margin % to Forecasted Adjusted Gross Margin and Adjusted Gross Margin %

  ($ in millions)2026 Full Year Forecast Total revenues$645 - $675Contracts & Grants$(25) - $(25)Product and services sales, net$620 - $650  Cost of product and services sales, net$365 - $369Intangible asset amortization55Gross margin$200 - $226Gross margin %32% - 35%  Add back: Intangible asset amortization$55
Inventory step-up provision4Severance and restructuring costs1Stock-based compensation expense3Adjusted gross margin$263 - $289Adjusted gross margin %42% - 44%

July 22, 2026 16:01 ET  | Source: Emergent BioSolutions

GAITHERSBURG, Md., July 22, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) will host a conference call on Wednesday, August 5, 2026, at 5:00 p.m. eastern time to discuss the financial results for the second quarter of 2026.

Participants can access the conference call live via webcast and also by visiting the Investors page of Emergent’s website. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call.

A replay of the call can be accessed from the Investors page of Emergent’s website.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]  

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

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Lead candidate BM-3103 (TolaSure® Gel™) now holds Fast Track, Orphan Drug, and Rare Pediatric Disease designations as BioMendics advances the TAMES-02 Phase 2 study (NCT07027345).

AKRON, Ohio--(BUSINESS WIRE)--BioMendics, LLC, a clinical-stage biotechnology company developing innovative therapies for rare genetic skin disorders, today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation to BM-3103, formulated as TolaSure® Gel™, for the treatment of Epidermolysis Bullosa Simplex (EBS). The milestone comes as the company prepares to attend the BIO International Convention 2026 in San Diego (June 22–25).

Combined with our Orphan Drug and Rare Pediatric Disease designations, Fast Track positions BM-3103 for an accelerated development path.

Share The designation follows FDA review of the company's Fast Track request. In its notification to BioMendics, the Agency stated:

“We have reviewed your request and concluded that it meets the criteria for the Fast Track designation. Therefore, we are designating this product as a Fast Track product for epidermolysis bullosa simplex (EBS).”

Fast Track Designation is intended to facilitate development and expedite review of therapies that address serious conditions and unmet medical needs. Benefits include more frequent FDA interactions, enhanced opportunities for regulatory guidance, eligibility for Rolling Review, and potential qualification for Priority Review.

“This designation is a significant milestone for BioMendics and, more importantly, for the individuals and families living with Epidermolysis Bullosa Simplex,” said Karen McGuire, PhD, Chief Executive Officer of BioMendics. “Combined with our Orphan Drug and Rare Pediatric Disease designations, Fast Track positions BM-3103 for an accelerated development path. We look forward to sharing this progress at BIO 2026 as we continue to advance BM-3103 for patients with rare genetic skin disorders.”

Advancing the TAMES-02 Phase 2 Clinical Trial

BioMendics is conducting the TAMES-02 Phase 2 clinical trial (ClinicalTrials.gov NCT07027345), evaluating BM-3103 (TolaSure® Gel™) in patients with Epidermolysis Bullosa Simplex in collaboration with leading investigators at Northwestern University Feinberg School of Medicine and Stanford University School of Medicine.

“For individuals living with EBS, even modest improvements in blister burden, pain, itch and quality of life can be meaningful,” added Amy S. Paller, MD, MS. “The TAMES-02 study represents an important opportunity to further evaluate a potential therapeutic option for this patient population. We are encouraged by the continued progress of the program and its recognition by the FDA through Fast Track Designation.”

"Families affected by EBS face daily challenges that can profoundly impact quality of life," said Brett Kopelan, Executive Director of DEBRA of America. "The FDA's Fast Track Designation for BM-3103 highlights the importance of advancing promising investigational therapies and underscores the urgent need for innovation in rare genetic disorders that manifest in the skin."

BioMendics has also partnered with Sano Genetics to support patient engagement and recruitment for the TAMES-02 study through its Virtual Waiting Room platform. The platform enables patients and caregivers to learn about the study, assess potential eligibility, and stay informed about program progress and future participation opportunities.

About BioMendics

BioMendics is a clinical-stage biotechnology company focused on developing innovative therapies for rare genetic skin disorders. Its lead product candidate, BM-3103 formulated as TolaSure® Gel™, is being developed for Epidermolysis Bullosa Simplex and other rare dermatologic conditions.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding clinical development, regulatory activities, manufacturing plans, strategic partnerships, commercialization opportunities, and the potential benefits of BM-3103 (TolaSure® Gel™). Actual results may differ materially from those expressed or implied due to risks and uncertainties associated with clinical development, regulatory review, funding, manufacturing, competition, intellectual property, strategic partnerships, and market conditions. Fast Track Designation, Orphan Drug Designation, and Rare Pediatric Disease Designation do not guarantee regulatory approval or commercial success. BioMendics undertakes no obligation to update forward-looking statements except as required by law.

More News From BioMendics, LLC

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GAITHERSBURG, Md., April 02, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS), a global life sciences leader with biodefense and medical countermeasures products, announced today that members of its products business, medical affairs, government and public affairs teams will participate in the following international preparedness conferences:

London Defence Conference, April 10-11, London, United KingdomCBRN Research & Innovation Conference, May 19-21, Arcachon, FranceGlobal Health Security Conference, June 9-12, Kuala Lumpur, MalaysiaBIO International Convention, June 20-22, San Diego, California, United States “As the world navigates an increasingly complex health threat landscape, Emergent is committed to working with governments to help protect regional and global security,” said Paul Williams, senior vice president, head of products business, global government and public affairs. “We look forward to engaging with government and industry leaders to discuss how together we can strengthen preparedness and help protect and save lives.”

Emergent specializes in developing, manufacturing and delivering medical countermeasures to governments around the world for security and preparedness. These products support emergency response preparedness and help protect the public from critical threats like smallpox, anthrax, botulism and Ebola. Learn more about how we help protect people worldwide from biological threats at emergentbiosolutions.com/biothreats.

About Emergent BioSolutions 
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

Investor Contact: 
Richard S. Lindahl 
Executive Vice President, CFO
[email protected] 

Media Contact: 
Assal Hellmer 
Vice President, Communications 
[email protected] 

WINNIPEG, Manitoba, April 09, 2026 (GLOBE NEWSWIRE) -- Today Emergent BioSolutions (NYSE: EBS) announced that it has partnered with the B.C. Provincial Health Services Authority (PHSA) to supply NARCAN® Nasal Spray for the province’s Take-Home Naloxone Program (BC THN Program). This order follows an additional investment of $18 million CAD by the B.C. government to expand the BC THN Program to include nasal naloxone. This is an expansion of B.C.’s nasal naloxone pilot program, which launched in 2024, and provided 60,000 nasal naloxone kits to community sites, pharmacies, post-secondary institutions, First-Nations-mandated institutions, fire departments, municipalities and libraries.

“We applaud the B.C. Ministry of Health for their efforts to make nasal naloxone available to communities across B.C. and empower more people to be ready to save a life in the event of an opioid poisoning,” said Paul Williams, senior vice president, head of products business, global government and public affairs at Emergent. “We are proud to deliver products to help protect and save lives through our footprint in Canada with over 300 employees across Emergent’s Winnipeg, Manitoba manufacturing facility and offices in Mississauga, Ontario.”

Emergent has longstanding partnerships with the Government of Canada and several provincial and territorial governments to deliver products that protect against public health threats. Since 2016, Emergent has delivered more than 100 million doses of NARCAN® Nasal Spray to people, communities and businesses across Canada and the U.S. to help save lives from opioid poisonings. NARCAN® Nasal Spray is designed to reverse the effects of an opioid poisoning within minutes and is part of Emergent’s opioid response program to equip the government, community organizations, pharmacies, workplaces and care providers with a suite of tools to help manage the crisis.

“This initial order is an important milestone in our commitment to increasing access and awareness of NARCAN® Nasal Spray to help address the opioid poisoning crisis across Canada,” said Danielle Portnik, country manager and head of business Canada at Emergent. “We are partnering closely with the BCCDC, Ministry of Health, and the Provincial and Regional Health Authorities on these efforts as NARCAN® Nasal Spray is rolled out across the province beginning this month.”

NARCAN® Nasal Spray can be accessed at no cost to all residents of Ontario, Quebec, Nova Scotia, Northwest Territories, Nunavut and the Yukon, through the provincial and territorial THN (or equivalent) programs. It is also available through Veteran Affairs Canada, First Nations Health Authority (FNHA) and Non-Insured Health Benefits (NIHB) program. NARCAN® Nasal Spray can also be ordered online at www.OrderNARCAN.ca. 

Learn more about Emergent’s commitment to help combat the opioid crisis in Canada via this National Impact Map.

About NARCAN® Nasal Spray
NARCAN® Nasal Spray is a pure opioid antagonist indicated for emergency use to reverse known or suspected opioid overdose, as manifested by respiratory and/or severe central nervous system depression.

While NARCAN® Nasal Spray can be administered by a non-health care professional, it is not intended to be a substitute for professional medical care. Always call 911 as soon as an opioid overdose is suspected, before administering NARCAN® Nasal Spray.

Always read the label and follow the directions for use.

About Emergent BioSolutions  
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.   

Safe Harbor Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding the B.C. government’s additional investment to expand the BC THN Program to include nasal naloxone, are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “may,” “plan,” “position,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on our current intentions, beliefs and expectations regarding future events based on information that is currently available. We cannot guarantee that any forward-looking statements will be accurate. Readers should realize that if underlying assumptions prove inaccurate or if known or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake any obligation to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause the company’s actual results to differ materially from those indicated by any forward-looking statements. Readers should consider this cautionary statement, as well as the risk factors and other disclosures included in our periodic reports filed with the U.S. Securities and Exchange Commission, when evaluating our forward-looking statements.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

1Province of British Columbia. (2025) Statistical reports on deaths in British Columbia. Available at: https://www2.gov.bc.ca/gov/content/life-events/death/coroners-service/statistical-reports (Accessed: 23 February 2026).

2BC Pharmacy Association (2019) Review of naloxone delivery devices for bystander intervention. The Tablet, 15 October [online]. Available at: https://www.bcpharmacy.ca/tablet/fall-19/nasal-naloxone-delivery. (Accessed: 20 February 2026).

April 16, 2026 16:05 ET  | Source: Emergent BioSolutions

GAITHERSBURG, Md., April 16, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) will host a conference call on Thursday, April 30, 2026, at 5:00 p.m. eastern time to discuss the financial results for the first quarter of 2026.

Participants can access the conference call live via webcast and also by visiting the Investors page of Emergent’s website. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call.

A replay of the call can be accessed from the Investors page of Emergent’s website.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]  

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

April 28, 2026 08:01 ET  | Source: Emergent BioSolutions

Emergent’s Canton facility will manufacture drug substance and obtains exclusive distribution rights
GAITHERSBURG, Md. and GENEVA, April 28, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today announced it has entered into an agreement with Substipharm Biologics valued at approximately $34.5 million to support drug substance manufacturing for its Japanese Encephalitis (JE) vaccine, licensed internationally under the brand name IMOJEV® at Emergent’s Canton, Massachusetts facility, and for Emergent to serve as the exclusive distributor of the vaccine to the U.S. government, following potential U.S. Food & Drug Administration (FDA) regulatory endeavors.

Emergent Canton is a BSL-2, multi-product commercial facility that provides viral drug substance manufacturing. Following an inspection in February 2026, the FDA listed “No Action Indicated” status classification for the Canton manufacturing facility, reflecting Emergent’s commitment to ensuring continued compliance with current good manufacturing practices. Emergent has begun scale-up efforts at the Canton facility and intends to hire additional employees later this year.

Under a master Manufacturing Services Agreement, Emergent will conduct operational and regulatory inspection readiness activities and manufacture drug substance to support Substipharm’s U.S. regulatory submission for the vaccine with the FDA. The parties have entered into a distribution agreement under which Emergent will be the exclusive distributor of the vaccine to the U.S. government upon FDA approval. Emergent has previously manufactured IMOJEV® drug substance for international markets and continues to actively manage and maintain product inventory at the Canton facility for Substipharm.

Joe Papa, President and CEO of Emergent, commented: “This strategic manufacturing partnership is a critical step in our efforts to onshore production of critical medicines and leverage our specialized capabilities to support the U.S. government’s preparedness needs. In addition to supporting IMOJEV® drug substance manufacturing internationally, this partnership positions our Canton facility as a sustainable and flexible site that is well positioned for future strategic manufacturing partnerships.” 

Fabrice Baschiera, CEO of Substipharm Biologics, stated: We’re pleased to partner with Emergent to accelerate our efforts to expand the global availability of our Japanese Encephalitis (JE) vaccine, IMOJEV®. This partnership allows us to leverage Emergent’s experience, specialized capabilities and track record in manufacturing complex biologics for the U.S. government, supporting regulatory approval and commercialization of the JE vaccine in the U.S. market and helping protect travelers to JE endemic regions.”

IMOJEV® is a JE vaccine that has been developed and used in several countries in Asia since 2012. Japanese Encephalitis is a mosquito-borne viral disease endemic in parts of Asia and the Western Pacific. It is not approved for use in the U.S.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

About Substipharm and Substipharm Biologics
Substipharm is a private French healthcare group headquartered in Paris, founded in 1995. The company develops, supplies and commercializes high-quality medicines and vaccines, operating in over 100 countries with a marketed portfolio of more than 90 molecules.

Substipharm Biologics is the group’s vaccines and biologics business, established following Substipharm’s 2022 acquisition of IMOJEV®, a Japanese Encephalitis vaccine, and its investment in a dedicated vaccine manufacturing facility in Bangkok, Thailand. Substipharm Biologics is based in Geneva, Switzerland, with a regional presence in Bangkok, and is focused on expanding access to vaccines and biologic medicines in Asia-Pacific and beyond.

Visit our website www.substipharm.com and follow us on LinkedIn.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. We generally identify forward-looking statements by using words like "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "goal," "intend," "may," "plan," "position," "possible," "potential," "predict," "project," "should," "target," "will," "would," and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on our current intentions, beliefs and expectations regarding future events based on information that is currently available. We cannot guarantee that any forward-looking statement will be accurate. Readers should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause the company's actual operational or financial results to differ materially from those indicated by any forward-looking statements. Readers should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the U.S. Securities and Exchange Commission, when evaluating our forward-looking statements.

Emergent
Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

Substipharm
Media contact:
Raphaëlle Tisserand-Quéré
[email protected]

April 29, 2026 07:35 ET  | Source: Emergent BioSolutions

GAITHERSBURG, Md., April 29, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today announced a multi-year agreement with SAB Biotherapeutics, Inc. (Nasdaq: SABS, SAB BIO) to support the process development and manufacturing of SAB-142, SAB BIO’s lead program in clinical development for autoimmune type 1 diabetes (T1D). The executed agreement is valued at approximately $50 million, of which $36 million is contingent on future regulatory approval and downstream milestones.

Under the terms of the agreement, Emergent will provide end-to-end development and manufacturing services to SAB BIO that are compliant with current good manufacturing practices. These services will include process development and scale-up, technology and analytical method transfer, manufacturing for SAB-142’s ongoing clinical program and commercial manufacturing services upon regulatory approval.

“Emergent is pleased to leverage our specialized manufacturing capabilities to support the advancement of SAB-142,” said Bill Hartzel, senior vice president, manufacturing and bioservices at Emergent BioSolutions. “Our Winnipeg facility is uniquely equipped to offer integrated drug substance and drug product manufacturing services as SAB BIO furthers the development of SAB-142.”

Through this collaboration, Emergent’s Winnipeg, Manitoba manufacturing facility, recognized for decades of expertise in plasma-derived and complex biologic manufacturing, will serve as the primary development and manufacturing site for bulk process intermediate and drug product production for SAB-142. This agreement reflects both companies’ commitment to advancing health and ensuring reliable, scalable manufacturing capacity for critical treatments.

About Emergent BioSolutions  
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.  

About SAB BIO
SAB BIO is a clinical-stage biopharmaceutical company focused on developing multi-specific, high-potency, human immunoglobulin G (hIgG) to treat and prevent immune and autoimmune disorders. Using advanced genetic engineering and antibody science, SAB BIO developed a proprietary technology which holds the potential to generate additional novel therapeutic candidates utilizing the human immune response, without the need for human donors or convalescent plasma. SAB BIO has optimized genetic engineering in the development of transchromosomic cattle, or Tc-Bovine, to produce hIgG. SAB BIO’s drug development production system is able to generate a diverse repertoire of specifically targeted, high-potency, hIgGs that can address a wide range of serious unmet needs in human diseases. The Company’s lead candidate, SAB-142, targets autoimmune T1D with a disease-modifying therapeutic approach that aims to change the T1D treatment paradigm by delaying onset and potentially preventing disease progression of Stage 3 T1D patients. SAB-142 is currently being evaluated in newly diagnosed Stage 3 autoimmune T1D patients in a registrational Phase 2b clinical trial called SAFEGUARD. For more information, visit www.sab.bio.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. We generally identify forward-looking statements by using words like "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "goal," "intend," "may," "plan," "position," "possible," "potential," "predict," "project," "should," "target," "will," "would," and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on our current intentions, beliefs and expectations regarding future events based on information that is currently available. We cannot guarantee that any forward-looking statement will be accurate. Readers should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause the company's actual operational or financial results to differ materially from those indicated by any forward-looking statements. Readers should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the U.S. Securities and Exchange Commission, when evaluating our forward-looking statements.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO, Emergent
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications, Emergent
[email protected]

First Quarter 2026 Total Revenues of $156.1 millionFirst Quarter 2026 Net Income of $6.8 million and Net Income Margin of 4%First Quarter 2026 Adjusted EBITDA of $35.6 million and Adjusted EBITDA Margin of 23% GAITHERSBURG, Md., April 30, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) today reported financial results for the first quarter ended March 31, 2026.

“Emergent’s first quarter results demonstrate a strong and positive start to 2026, with healthy topline revenue of $156 million, above the high-end of our guidance range, and adjusted EBITDA of $36 million,” said Joe Papa, president and CEO of Emergent. “We are further strengthening our financial position in 2026 through our recently announced debt refinancing, which increases our strategic flexibility and meaningfully reduces interest expense payments. Additionally, we are pleased to have monetized our capability and capacity in our Canton facility by securing a strategic manufacturing partnership with Substipharm Biologics, which includes a manufacturing agreement and exclusive U.S. (future) distribution rights to its Japanese Encephalitis vaccine, following U.S. FDA approval. We maintained our market share position with NARCAN® Nasal Spray through our efforts across multiple distribution channels, as well as by launching a new carrying case and multipack presentations, and we continued to deliver our biodefense medical countermeasures to multiple government partners in the United States, Canada and around the world. Our mission to protect and save lives remains a prominent driving force for our entire team and we are proud to do so while executing our multi-year transformation plan and turnaround strategy to build several growing and profitable verticals over time."

FINANCIAL HIGHLIGHTS (1)

Q1 2026 vs. Q1 2025

($ in millions, except per share amounts)Q1 2026Q1 2025% ChangeTotal Revenues$156.1 $222.2 (30)%Net Income$6.8 $68.0 (90)%Net Income per Diluted Share$0.07 $1.19 (94)%Adjusted Net Income(2)$11.9 $42.2 (72)%Adjusted Net Income per Diluted Share(2)$0.21 $0.74 (72)%Adjusted EBITDA(2)$35.6 $79.1 (55)%Net Income Margin 4% 31% Adjusted EBITDA Margin(2) 23% 36% Gross Margin % 41% 50% Adjusted Gross Margin %(2) 52% 58% 
RECENT BUSINESS UPDATES

Secured two new strategic manufacturing partnerships with: SAB Biotherapeutics to advance its type 1 diabetes candidate, SAB-142Substipharm Biologics to support its Japanese Encephalitis vaccine in the United States Refinanced term loan with new $150 million facility and amended asset-backed loan facilityAppointed John D. Fowler, Jr. to Board of Directors         Announced partnership with British Columbia to supply NARCAN® Nasal Spray for the launch of the expanded BC Take Home Naloxone Program          Partnered with professional baseball player Davis Schneider to raise awareness of NARCAN® Nasal Spray in CanadaAnnounced launch of new NARCAN® Nasal Spray Carrying Case and Multipacks to expand opioid overdose preparedness following U.S. FDA approvals on supplemental new drug applications       Announced participation in several international preparedness conferences          Secured over $60 Million in new contract award with the U.S. Government and new orders with an international government partner for smallpox medical countermeasures          Secured approximately $140 million in medical countermeasures contract awards with the Government of CanadaSecured delivery order up to $21.5 Million to supply BioThrax® (Anthrax Vaccine Adsorbed) to the U.S. Department of War in 2026Announced the Board of Directors authorized up to $50.0 million in repurchases from February 25, 2026 through March 31, 2027Announced resolution of New York Attorney General investigation related to legacy claims            Received approval from Singapore Health Sciences Authority for expanded indication of ACAM2000® (Smallpox and Mpox (Vaccinia) Vaccine, Live) to include mpoxAnnounced continued support to PANTHER for the ongoing Africa CDC-led Mpox Study in Africa FIRST QUARTER 2026 FINANCIAL PERFORMANCE (1)

Revenues

The Company uses the following categories in discussing revenues:

Naloxone — comprises contributions from NARCAN® Nasal Spray and KLOXXADO® Nasal SprayAnthrax MCM — comprises contributions from CYFENDUS®, BioThrax®, ANTHRASIL®, and RaxibacumabSmallpox MCM — comprises contributions from ACAM2000®, CNJ-016® (VIGIV) and TEMBEXA®Other Products — comprises contributions from BAT®All Other Revenues — comprises revenues from the Services operating segment and contracts and grants revenues ($ in millions)Q1 2026Q1 2025$ Change% ChangeProduct sales, net:(3)    Naloxone$42.9$45.3$(2.4)(5)%Anthrax MCM 21.6 47.9 (26.3)(55)%Smallpox MCM 64.2 106.4 (42.2)(40)%Other Products 16.0 2.3 13.7 NMTotal Product sales, net$144.7$201.9$(57.2)(28)%     All other revenues$11.4$20.3$(8.9)(44)%     Total revenues$156.1$222.2$(66.1)(30)%     NM - Not Meaningful    
Product Sales, net (3)

Naloxone
For Q1 2026, revenues from Naloxone products decreased $2.4 million, or 5%, as compared with Q1 2025. The decrease was primarily attributable to lower sales of OTC NARCAN®, driven primarily by an unfavorable price-volume mix in US sales, partially offset by increases in Canadian sales of branded NARCAN® and the timing of the integration of KLOXXADO® into the Company’s product portfolio.

Anthrax MCM
For Q1 2026, revenues from Anthrax MCM products decreased $26.3 million, or 55%, as compared with Q1 2025. The decrease was due to lower international sales of ANTHRASIL®, mainly to the Canadian government, coupled with lower volumes of CYFENDUS® sales to the USG, primarily due to the impact of timing. These decreases were partially offset by an increase in USG BioThrax® sales due to timing of exercised purchase options. Anthrax vaccine product sales are primarily made under annual purchase options exercised by the USG. Fluctuations in revenues result from the timing of the exercise of annual purchase options, the timing of USG purchases, the availability of governmental funding and the Company’s delivery of orders that follow.

Smallpox MCM
For Q1 2026, revenues from Smallpox MCM products decreased $42.2 million, or 40%, as compared with Q1 2025. The decrease was primarily driven by lower ACAM2000® sales, largely due to reduced international volumes and an overall decline in TEMBEXA® sales driven by lower USG sales volume due to timing partially offset by higher international sales. These decreases were partially offset by an increase in CNJ-016® (VIGIV) USG sales due to timing. Fluctuations in revenues from Smallpox MCM result from the timing of the exercise of annual purchase options in the existing procurement contracts, the timing of USG purchases, the availability of governmental funding and the Company’s delivery of orders that follow.

Other Products
For Q1 2026, revenues from Other Product sales increased $13.7 million, or 596%, as compared with Q1 2025. The increase was primarily due to higher Canadian and other international BAT® sales.

All Other Revenues

Services
For Q1 2026, revenues from Services decreased $2.2 million, or 31%, as compared with Q1 2025. The decrease was primarily attributable to a decline in production at the Company’s Winnipeg facility.

Contracts and Grants
For Q1 2026, revenues from contracts and grants decreased $6.7 million, or 51%, as compared with Q1 2025. The decrease was primarily due to lower project spend on Ebanga™ related development work.

Operating Expenses

($ in millions)Q1 2026Q1 2025$ Change% ChangeCost of product and services sales, net$72.0$88.5$(16.5)(19)%Research and development (“R&D”) 10.5 15.1 (4.6)(30)%Selling, general and administrative (“SG&A”) 46.6 52.4 (5.8)(11)%Amortization of intangible assets 16.5 16.3 0.2 1%Total operating expenses$145.6$172.3$(26.7)(15)%
Cost of Product and Services Sales, Net
For Q1 2026, cost of product and services sales, net decreased $16.5 million, or 19%, as compared with Q1 2025. The decrease was driven by reductions in cost of MCM Product sales of $13.4 million and cost of Services of $5.4 million, partially offset by an increase in cost of Commercial Product sales of $2.3 million.

Research and Development Expenses
For Q1 2026, R&D expenses decreased $4.6 million, or 30%, as compared with Q1 2025. The decrease was primarily due to lower project spend on Ebanga™ related development work, partially offset by increases in development overhead spend.

Selling, General and Administrative Expenses

For Q1 2026, SG&A expenses decreased $5.8 million, or 11%, as compared with Q1 2025. The decrease was primarily due to lower professional services, marketing, and administrative support expenses, primarily attributable to cost-saving initiatives implemented as part of the Company’s ongoing turnaround and transformation efforts.

ADDITIONAL FINANCIAL INFORMATION(1)

Capital Expenditures

($ in millions)Q1 2026Q1 2025% ChangeCapital expenditures$2.4 $3.6 (33)%Capital expenditures as a % of total revenues 2% 2% 
For Q1 2026, capital expenditures decreased largely due to reduced development activities across the Company’s facilities.

REPORTABLE SEGMENT INFORMATION

The Company manages the business with a focus on three operating segments: (1) a Commercial Products segment consisting of NARCAN® Nasal Spray and KLOXXADO® Nasal Spray; (2) a MCM Products segment consisting of Anthrax - MCM, Smallpox - MCM and Other products and (3) a services segment consisting of our Bioservices offerings (“Services”). Commercial Products and MCM Products are our two reportable segments. The Services operating segment no longer meets the quantitative thresholds of a reportable segment and did not meet the aggregation criteria set forth in Accounting Standards Codification 280, Segment Reporting, and as such is categorized within “All other revenues” along with “Contracts and Grants”. The Company evaluates the performance of these reportable segments based on revenues and segment adjusted gross margin, which is a non-GAAP financial measure. Segment revenue includes external customer sales but does not include inter-segment services. The Company does not allocate contracts and grants revenue, R&D, SG&A, amortization of intangible assets, interest and other income (expense) or taxes to its evaluation of the performance of these segments.

FIRST QUARTER 2026 REPORTABLE SEGMENT RESULTS

($ in millions)
Commercial ProductsQuarter Ended March 31, 2026  2025 $ Change% ChangeRevenues$42.9 $45.3 $(2.4)(5)%Cost of sales 26.8  24.5  2.3 9%Intangible asset amortization 9.4  9.5  (0.1)(1)%Gross margin*$6.7 $11.3 $(4.6)(41)%Gross margin %* 16% 25%  Add back:    Intangible asset amortization$9.4 $9.5 $(0.1)(1)%Segment adjusted gross margin **$16.1 $20.8 $(4.7)(23)%Segment adjusted gross margin % ** 38% 46%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our Commercial Products segment is calculated as gross margin plus intangible asset amortization. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.
Cost of Commercial Product sales increased $2.3 million, or 9%, to $26.8 million for the quarter ended March 31, 2026. The increase was primarily due to higher KLOXXADO® sales due to timing of its integration into the Company’s product portfolio, and Canadian branded NARCAN® sales.

Commercial Products gross margin decreased $4.6 million, or 41%, to $6.7 million for the quarter ended March 31, 2026. Commercial Products gross margin percentage decreased 9 percentage points to 16% for the quarter ended March 31, 2026. The decrease was largely due to an unfavorable price and volume mix of OTC NARCAN® as well as Canadian branded NARCAN®. Commercial Products segment adjusted gross margin in the current year period excludes the impact of intangible asset amortization of $9.4 million.

($ in millions)
MCM ProductsQuarter Ended March 31, 2026  2025 $ Change% ChangeRevenues$101.8 $156.6 $(54.8)(35)%Cost of sales 36.8  50.2  (13.4)(27)%Intangible asset amortization 7.1  6.8  0.3 4%Gross margin*$57.9 $99.6 $(41.7)(42)%Gross margin %* 57% 64%  Add back:    Intangible asset amortization$7.1 $6.8 $0.3 4%Inventory step-up provision 0.1  1.8  (1.7)(94)%Severance and restructuring benefits —  (0.8) 0.8 100%Stock-based compensation expense 0.5  0.3  0.2 67%Segment adjusted gross margin**$65.6 $107.7 $(42.1)(39)%Segment adjusted gross margin %** 64% 69%            * Gross margin is calculated as revenues less cost of sales and intangible asset amortization. Gross margin % is calculated as gross margin divided by revenues.** Segment adjusted gross margin, which is a non-GAAP financial measure, for our MCM Products segment is calculated as gross margin plus intangible asset amortization, inventory step-up provision, severance and restructuring benefits and the portion of stock-based compensation expense that is recorded as cost of sales. Segment adjusted gross margin percentage, which is a non-GAAP financial measure, is calculated as segment adjusted gross margin divided by revenues. The Company’s management utilizes segment adjusted gross margin and segment adjusted gross margin percentage for purposes of evaluating our ongoing operations and for internal planning and forecasting purposes. In calculating these measures, we began excluding stock-based compensation that is recorded as cost of sales in the first quarter of 2026, as this reflects a non-cash expenditure that is not related to segment operating performance. As reflected in the table above, we have recast our 2025 results to also reflect this adjustment. We believe that these non-GAAP operating measures, when reviewed collectively with our GAAP financial information, provide useful supplemental information to investors in assessing our operating performance.
Cost of MCM product sales decreased $13.4 million, or 27%, to $36.8 million for the quarter ended March 31, 2026. The decrease was primarily due to lower cost of sales for ANTHRASIL®, ACAM2000®, CYFENDUS® and TEMBEXA® reflecting reduced sales volumes and the absence of significant prior-year non-recurring manufacturing related costs, including shutdown and severance expenses. These decreases were partially offset by an increase in cost of sales for CNJ-016® (VIGIV), BAT® and BioThrax® driven by greater sales volumes and increased overhead costs at the Winnipeg facility.

MCM Product gross margin decreased $41.7 million, or 42%, to $57.9 million for the quarter ended March 31, 2026. MCM Product gross margin percentage decreased 7 percentage points to 57% for the quarter ended March 31, 2026. The decrease in gross margin percentage was primarily due to an unfavorable sales mix weighted more heavily toward lower margin products as well as product absorption-related variances. These impacts were partially offset by a decrease in shutdown and severance related costs compared with the prior year. MCM Product segment adjusted gross margin in the current year period excludes the impacts of intangible asset amortization of $7.1 million, the portion of stock-based compensation expense recorded as cost of sales of $0.5 million, and inventory step-up provision of $0.1 million.

2026 FINANCIAL FORECAST

The Company provides the following updated financial forecast for full year 2026, reflecting management's expectations based on the most current information available.

METRIC
($ in millions)Updated Range
(as of 04/30/2026)ActionPrevious Range
(as of 02/27/2026)Total revenues$720- $760UNCHANGED$720 - $760Net loss$(30) - $(10)UNCHANGED$(30) - $(10)Adjusted net income(2)$45 - $65REVISED$25 - $45Adjusted EBITDA(2)$155 - $175REVISED$135 - $155Adjusted gross margin %(2)45% - 47%UNCHANGED45% - 47% Key Assumptions
($ and shares in millions)Updated Range
(as of 04/30/2026)Interest expense~$40R&D~6% to 7% of RevenuesSG&A~26% to 28% of RevenuesWeighted avg. fully diluted share count~52Stock-based compensation expense~$20Capex~$17Depreciation & amortization~$90
Q2 2026

METRIC
($ in millions)Q2 2026 ForecastTotal revenues$170M - $185M
FOOTNOTES

(1) All financial information included in this release is unaudited.

(2) See “Non-GAAP Financial Measures” and the “Reconciliation of Non-GAAP Financial Measures” tables for the definitions and reconciliations of Company-wide non-GAAP financial measures to the most closely related GAAP financial measures. Reconciliations of segment non-GAAP financial measures are included within the reportable segment tables. In the first quarter of 2026 we revised our calculations of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. The updated ranges for our 2026 forecast reflect this adjustment.

(3) Product sales, net are reported net of variable consideration including returns, rebates, wholesaler fees and prompt pay discounts in accordance with GAAP.

CONFERENCE CALL, PRESENTATION SUPPLEMENT AND WEBCAST INFORMATION

Company management will host a conference call at 5:00 pm eastern time today, April 30, 2026, to discuss these financial results. The conference call and presentation supplement can be accessed from the Company's website or through the following:

By phone
Advanced registration is required.
Visit https://register-conf.media-server.com/register/BI0e62cf901eb14511aa46f6bcbd70e7fc to register and receive an email with the dial-in number, passcode and registrant ID.

By webcast
Visit https://edge.media-server.com/mmc/p/qw3ajghx/
A replay of the call can be accessed from the Emergent website.

ABOUT EMERGENT BIOSOLUTIONS INC.

At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

NON-GAAP FINANCIAL MEASURES

In the accompanying analysis of financial information, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Certain of these financial measures are considered not in conformity with GAAP (“non-GAAP financial measures”) under the United States Securities and Exchange Commission (“SEC”) rules. Specifically, we have referred to the following non-GAAP financial measures:

Adjusted Net Income Adjusted Net Income per Diluted ShareAdjusted EBITDAAdjusted EBITDA MarginAdjusted Gross MarginAdjusted Gross Margin %Segment Adjusted Gross MarginSegment Adjusted Gross Margin % We define Adjusted Net Income and Adjusted Net Income per Diluted Share, which are non-GAAP financial measures, as net income and net income per diluted share, respectively, excluding the impact of non-cash amortization charges, severance and restructuring costs (benefits), inventory step-up provision, acquisition and divestiture costs, loss on assets held for sale, contingent consideration milestones, changes in fair value of financial instruments, stock-based compensation expense, other income, net and tax effects. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. We use Adjusted Net Income for the purpose of calculating Adjusted Net Income per Diluted Share. Management uses Adjusted Net Income per Diluted Share to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with an additional understanding of our business operating results, including underlying trends.

We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income before depreciation and amortization, income taxes, total interest expense, net, inventory step-up provision, changes in fair value of financial instruments, severance and restructuring costs (benefits), acquisition and divestiture costs, loss on assets held for sale, contingent consideration milestones, stock-based compensation expense and other income, net items. We define Adjusted EBITDA Margin, which is a non-GAAP financial measure, as Adjusted EBITDA divided by Total Revenues. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry, although it may be defined differently by different companies. Therefore, we also believe that this non-GAAP financial measure, considered along with corresponding GAAP financial measures, provides management and investors with additional information for comparison of our operating results with the operating results of other companies.

We define Adjusted Gross Margin, which is a non-GAAP financial measure, as Gross Margin, excluding the impact of intangible asset amortization, stock-based compensation expense, severance and restructuring costs (benefits) and inventory step-up provision. We define Adjusted Gross Margin %, which is a non-GAAP financial measure, as Adjusted Gross Margin as a percentage of Products and services sales, net. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to our operating performance.

We define Segment Adjusted Gross Margin, which is a non-GAAP financial measure, as a segment's Gross Margin excluding the respective impact of intangible asset amortization, restructuring costs (benefits), stock-based compensation expense and inventory step-up provision. We define Segment Adjusted Gross Margin %, which is a non-GAAP financial measure, as Segment Adjusted Gross Margin as a percentage of a segment's revenues. In the first quarter of 2026 we revised our calculation of these measures to exclude the impact of stock-based compensation expense, as this is a non-cash expense that is not related to segment operating performance.

Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. The determination of the amounts that are excluded from these non-GAAP financial measures are a matter of management judgment and depend upon, among other factors, the nature of the underlying expense or income amounts. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Consolidated Statements of Operations and Consolidated Statements of Cash Flows. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.

SAFE HARBOR STATEMENT

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, including statements regarding the future performance of the Company or any of our businesses, our business strategy, future operations, future financial position, future revenues and earnings, our ability to achieve the objectives of our restructuring initiatives, acquisitions and divestitures, including our future results, projected costs, prospects, plans and objectives of management, are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “confident,” “commit,” “forecast,” “future,” “outlook,” “goal,” “intend,” “may,” “plan,” “position,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. These forward-looking statements are based on our current intentions, beliefs, assumptions and expectations regarding future events based on information that is currently available. You should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement contained herein. Any such forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake any obligation to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements, including, among others, the availability of USG funding for contracts related to procurement of our medical countermeasures (“MCM”) products, including CYFENDUS® (Anthrax Vaccine Adsorbed (AVA) Adjuvanted), previously known as AV7909, ACAM2000® (Smallpox (Vaccinia) Vaccine, Live), CNJ-016® (Vaccinia Immune Globulin Intravenous (Human) (VIGIV)), BAT® (Botulism Antitoxin Heptavalent (A,B,C,D,E,F,G)-(Equine)), BioThrax® (Anthrax Vaccine Adsorbed) Ebanga™ (ansuvimab-zykl) and/or TEMBEXA® (brincidofovir) among others, as well as contracts related to development of medical countermeasures; our ability to meet our commitments to quality and compliance in all of our manufacturing operations; our ability to negotiate additional USG procurement or follow-on contracts for our MCM products that have expired or will be expiring; the commercial availability and impact of a generic and competitive marketplace on future sales of NARCAN® (naloxone HCL) Nasal Spray, over-the-counter NARCAN® Nasal Spray and KLOXXADO® Nasal Spray; our ability to perform under our contracts with the USG, including the timing of and specifications relating to deliveries; the ability of our contractors and suppliers to maintain compliance with current good manufacturing practices and other regulatory obligations; our ability to collect reimbursement for raw materials and payment of service fees from our Bioservices customers; the results of pending government investigations and their potential impact on our business; our ability to satisfy the conditions of our litigation settlement agreements, and the potential impact of such agreements, including the funds to resolve related litigation, on our business; our ability to comply with the operating and financial covenants required by (i) our term loan facility under the Credit Agreement, dated April 16, 2026, by and among the Company, the lenders from time to time party thereto, and OrbiMed Royalty & Credit Opportunities V, LP, as administrative agent, (ii) our revolving credit facility under a credit agreement, dated September 30, 2024, among the Company, certain subsidiary borrowers, the lenders from time to time party thereto and Wells Fargo, National Association, as Agent, and (iii) our 3.875% Senior Unsecured Notes due 2028; our ability to maintain adequate internal control over financial reporting and to prepare accurate financial statements in a timely manner; our ability to maintain sufficient cash flow from our operations to pay our substantial debt, both now and in the future; our ability to invest in our business operations as a result of our current indebtedness; the impact of our share and debt repurchase programs; the procurement of our product candidates by USG entities under regulatory authorities that permit government procurement of certain medical products prior to FDA marketing authorization, and corresponding procurement by government entities outside the United States; the success of our commercialization, marketing and manufacturing capabilities and strategy; our ability to identify and acquire companies, businesses, products or product candidates that satisfy our selection criteria; our ability to attract and retain qualified personnel; our ability to adequately secure and protect our intellectual property rights; the impact of cybersecurity incidents, including the risks from the unauthorized access, interruption, failure or compromise of our information systems or those of our business partners, collaborators or other third parties; and the accuracy of our estimates regarding future revenues, expenses, capital requirements and need for additional financing. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ materially from our expectations in any forward-looking statement. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any forward-looking statements. Readers should consider this cautionary statement, as well as the risks identified in our periodic reports filed with the Securities and Exchange Commission, when evaluating our forward-looking statements.

Trademarks

Emergent®, BioThrax®, BaciThrax®, BAT®, Trobigard®, ANTHRASIL®, CNJ-016®, ACAM2000®, ​NARCAN®, CYFENDUS®, TEMBEXA® and any and all Emergent BioSolutions Inc. brands, products, services and feature names, logos and slogans are trademarks or registered trademarks of Emergent BioSolutions Inc. or its subsidiaries in the United States or other countries. All other brands, products, services and feature names or trademarks are the property of their respective owners, including KLOXXADO®, which is a registered trademark of Hikma Pharmaceuticals USA Inc.

Investor Contact
Rich Lindahl
Executive Vice President, Chief Financial Officer
[email protected]
Media Contact
Assal Hellmer
Vice President, Communications
[email protected]
 Emergent BioSolutions Inc.
Consolidated Balance Sheets
(in millions, except per share data) March 31, 2026 December 31, 2025(unaudited)  ASSETS   Current assets:   Cash and cash equivalents$160.3  $205.4 Restricted cash 1.2   3.7 Accounts receivable, net 121.6   84.2 Inventories, net 327.6   343.4 Prepaid expenses and other current assets 26.9   25.8 Total current assets 637.6   662.5     Property, plant and equipment, net 199.4   205.4 Intangible assets, net 470.4   436.5 Other assets 13.0   14.2 Total assets$1,320.4  $1,318.6     LIABILITIES AND STOCKHOLDERS’ EQUITY   Current liabilities:   Accounts payable$39.5  $55.6 Accrued expenses 9.4   12.2 Accrued compensation 22.0   41.8 Accrued acquisition obligation 50.4   — Deferred revenue 12.2   5.0 Current tax liability 7.2   6.8 Other current liabilities 8.0   10.8 Total current liabilities 148.7   132.2     Debt 573.6   572.1 Deferred tax liability 33.3   37.8 Other liabilities 41.7   53.9 Total liabilities$797.3  $796.0     Stockholders’ equity:   Preferred stock, $0.001 par value per share; 15.0 shares authorized, no shares issued and outstanding —   — Common stock, $0.001 par value per share; 200.0 shares authorized, 61.4 and 60.9 shares issued; 51.8 and 52.1 shares outstanding, respectively. 0.1   0.1 Treasury stock, at cost, 9.6 and 8.7 common shares, respectively (261.6)  (252.6)Additional paid-in capital 944.5   942.4 Accumulated other comprehensive loss, net (6.9)  (7.5)Accumulated deficit (153.0)  (159.8)Total stockholders’ equity$523.1  $522.6 Total liabilities and stockholders’ equity$1,320.4  $1,318.6   Emergent BioSolutions Inc.
Consolidated Statements of Operations
(unaudited, in millions, except per share data)
 Three Months Ended March 31, 2026   2025 Revenues:   Product and services sales, net$149.7  $209.1 Contracts and grants 6.4   13.1 Total revenues 156.1   222.2     Operating expenses:   Cost of product and services sales, net(1) 72.0   88.5 Research and development 10.5   15.1 Selling, general and administrative 46.6   52.4 Amortization of intangible assets 16.5   16.3 Total operating expenses 145.6   172.3     Income from operations 10.5   49.9     Other income (expense):   Interest expense (11.0)  (14.7)Loss on assets held for sale —   (12.2)Other, net 13.9   69.7 Total other income, net 2.9   42.8     Income before income taxes 13.4   92.7 Income tax provision 6.6   24.7 Net income$6.8  $68.0     Earnings per common share   Basic$0.13  $1.25 Diluted$0.07  $1.19     Weighted average shares outstanding   Basic 51.9   54.4 Diluted 56.5   57.3         (1)Exclusive of intangible asset amortization   Emergent BioSolutions Inc.
Consolidated Statements of Cash Flows
(unaudited, in millions)  Three Months Ended March 31, 2026   2025 Operating Activities   Net income$6.8  $68.0 Adjustments to reconcile net income to net cash used in operating activities:   Stock-based compensation expense 1.9   1.5 Depreciation and amortization 23.5   25.4 Amortization of deferred financing costs 1.8   2.3 Deferred income taxes (4.5)  18.6 Noncash loss on assets held for sale —   12.2 Change in fair value of warrant liability (8.4)  (9.5)Loss on disposal of assets 0.8   0.3 Other (3.9)  (11.3)Changes in operating assets and liabilities:   Accounts receivable (38.9)  (73.3)Inventories 15.8   (2.2)Prepaid expenses and other assets (0.5)  9.5 Accounts payable (14.4)  (5.4)Accrued expenses and other liabilities (1.8)  (7.2)Long-term incentive plan accrual 0.4   0.8 Accrued compensation (20.2)  (32.2)Income taxes receivable and payable, net 4.6   (8.4)Contract liabilities 3.2   (0.3)Net cash used in operating activities (33.8)  (11.2)Investing Activities   Purchases of property, plant and equipment (2.4)  (3.6)Proceeds from sale of property, plant and equipment —   38.1 Milestone payments from prior asset divestiture —   30.0 Purchase of convertible note receivable —   (5.0)Net cash provided by (used in) investing activities (2.4)  59.5 Financing Activities   Proceeds from issuance of common stock upon exercise of stock options 0.4   — Purchases of treasury stock (9.0)  — Proceeds from stock-based compensation activity —   0.1 Taxes paid for stock-based compensation activity (2.8)  (0.5)Net cash used in financing activities: (11.4)  (0.4)Effect of exchange rate changes on cash, cash equivalents and restricted cash —   (0.7)Net change in cash, cash equivalents and restricted cash (47.6)  47.2 Cash, cash equivalents and restricted cash, beginning of period 209.1   105.6 Cash, cash equivalents and restricted cash, end of period$161.5  $152.8 Supplemental cash flow disclosures:   Cash paid for interest$13.1  $16.7 Cash paid for income taxes, net of refunds$5.3  $14.5 Non-cash investing and financing activities:   Purchases of property, plant and equipment unpaid at period end$1.0  $1.5 Excise tax liability accrued for treasury stock purchases$0.1  $— Reconciliation of cash and cash equivalents and restricted cash:   Cash and cash equivalents$160.3  $149.1 Restricted cash 1.2   3.7 Total$161.5  $152.8   Emergent BioSolutions, Inc.
Reconciliation of Non-GAAP Financial Measures
Reconciliation of Net Income and Net Income per Diluted Share to Adjusted Net Income and Adjusted Net Income per Diluted Share(1)($ in millions, except per share data)Three Months Ended March 31,  2026  2025 SourceNet income$6.8 $68.0  Adjustments:   Non-cash amortization charges$18.3 $18.6 Amortization of intangible assets ("IA"), Other IncomeSeverance and restructuring costs (benefits) 0.2  (1.3)Cost of product and services sales, net, SG&A and R&DInventory step-up provision 0.1  1.8 Cost of product and services sales, netAcquisition and divestiture costs —  0.2 SG&ALoss on assets held for sale —  12.2 Other Income (Expense)Contingent consideration milestones (5.0) (50.0)Other Income (Expense)Changes in fair value of financial instruments (8.4) (9.5)Other Income (Expense)Stock-based compensation expense 1.9  1.5 Cost of product and services sales, net, SG&A and R&DOther income, net items (0.3) (7.9)Other Income (Expense)Tax effect (1.7) 8.6  Total adjustments:$5.1 $(25.8) Adjusted net income$11.9 $42.2  Net income per diluted share$0.07 $1.19  Adjustments:   Non-cash amortization charges$0.32 $0.32 Amortization of IA, Other IncomeSeverance and restructuring benefits —  (0.02)Cost of product and services sales, net, SG&A and R&DInventory step-up provision —  0.03 Cost of product and services sales, netAcquisition and divestiture costs —  — SG&ALoss on assets held for sale —  0.21 Other Income (Expense)Contingent consideration milestones (0.09) (0.87)Other Income (Expense)Changes in fair value of financial instruments (0.08) (0.17)Other Income (Expense)Stock-based compensation expense 0.03  0.03 Cost of product and services sales, net, SG&A and R&DOther income, net items —  (0.14)Other Income (Expense)Tax effect (0.04) 0.16  Total adjustments:$0.14 $(0.45) Adjusted net income per diluted share$0.21 $0.74  Diluted shares used in computing Adjusted net income per diluted share 56.5  57.3      (1)Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions, Inc.
Reconciliation of Net Income and Net Income Margin to Adjusted EBITDA and Adjusted EBITDA Margin(1)($ in millions)
Three Months Ended March 31, 2026  2025 Net income$6.8 $68.0 Adjustments:  Depreciation & amortization$23.5 $25.4 Income taxes 6.6  24.7 Total interest expense, net 10.2  14.0 Inventory step-up provision 0.1  1.8 Changes in fair value of financial instruments (8.4) (9.5)Severance and restructuring costs (benefits) 0.2  (1.3)Acquisition and divestiture costs —  0.2 Loss on assets held for sale —  12.2 Contingent consideration milestones (5.0) (50.0)Stock-based compensation expense 1.9  1.5 Other income, net items (0.3) (7.9)Total adjustments$28.8 $11.1 Adjusted EBITDA$35.6 $79.1    Total revenues$156.1 $222.2    Net income margin 4% 31%Adjusted EBITDA margin 23% 36%   (1) Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions, Inc.
Reconciliations of Total Revenues to Product and Services Sales, Net and of Gross Margin and Gross Margin %
to Adjusted Gross Margin and Adjusted Gross Margin %(1)
 Three Months Ended March 31,($ in millions) 2026  2025 Total revenues$156.1 $222.2 Contracts and grants 6.4  13.1 Product and services sales, net$149.7 $209.1    Cost of product and services sales, net 72.0  88.5 Intangible asset amortization 16.5  16.3 Gross margin$61.2 $104.3 Gross margin % 41% 50%Add back:  Intangible asset amortization$16.5 $16.3 Stock-based compensation expense 0.5  0.3 Severance and restructuring benefits —  (0.9)Inventory step-up provision 0.1  1.8 Adjusted gross margin$78.3 $121.8 Adjusted gross margin % 52% 58%   (1) Amounts for fiscal year 2025 have been revised from those previously reported to reflect the exclusion of stock-based compensation expense.  Emergent BioSolutions, Inc.
Reconciliation of Net Loss Forecast to Adjusted Net Income Forecast($ in millions)2026 Full Year ForecastSourceNet loss$(30) - $(10) Adjustments:  Non-cash amortization charges$74Amortization of IA and Other Income (Expense)Changes in fair value of financial instruments(8)Other Income (Expense)Inventory step-up provision4Cost of products and services, netContingent consideration milestones(10)Other Income (Expense)Stock-based compensation expense20COGS, R&D and SGAOther expense (income), net items20Other Income (Expense)Tax effect(25) Total adjustments:$75 Adjusted net income$45 - $65  Reconciliation of Net Loss Forecast to Adjusted EBITDA Forecast($ in millions)2026 Full Year ForecastNet loss$(30) - $(10)Adjustments: Depreciation & amortization$90Income taxes29Total interest expense, net40Inventory step-up provision4Changes in fair value of financial instruments(8)Contingent consideration milestones(10)Stock-based compensation expense20Other expense (income), net items20Total adjustments$185Adjusted EBITDA$155 - $175 Emergent BioSolutions, Inc.
Reconciliations of Forecasted Total Revenues to Forecasted Product and Services Sales, Net and of Forecasted Gross Margin and Gross Margin % to Forecasted Adjusted Gross Margin and Adjusted Gross Margin %($ in millions)2026 Full Year ForecastTotal revenues$720- $760Contracts & Grants($35)-($35)Product and services sales, net$685 - $725  Cost of product and services sales, net$381- $388Intangible asset amortization(64)Gross margin$240 - $273Gross margin %35% - 38%Add back: Intangible asset amortization$64Inventory step-up provision4Stock-based compensation expense3Adjusted gross margin$311-$344Adjusted gross margin %45% - 47%

An outbreak of the hantavirus caused a brief spike in the stocks of companies working to develop a vaccine, but the stocks weren't able to sustain their early gains.

The World Health Organization flagged an outbreak of hantavirus, a fatal and viral respiratory disease spread by rodents, on May 2, after some passengers caught it on a Dutch-flagged expedition cruise ship, the MV Hondius, which was sailing the Atlantic.

The public health risk for the virus is low, according to the WHO and other health authorities that have noted human transmission is rare.

Which pharma and biotech stocks are rising?Biotech firm Moderna, which developed one of the main Covid-19 vaccines, was up less than 1% after it said it was conducting preclinical research on the virus. Shares had spiked as high at $59.48 earlier in the session.

"Moderna has conducted preclinical research on Hantaviruses in collaboration with the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID), reflecting the ongoing regional impact of these pathogens," it said in a statement shared with CNBC.

"These efforts are early-stage and ongoing and reflect Moderna's broader responsibility to develop countermeasures against emerging infectious diseases."

Evercore ISI said last week that it is unlikely to be a revenue opportunity for Moderna in the hantavirus case.

Moderna stocks year-to-date compared to several other pharma stocks.

"As a heavily retail-trafficked name, [Moderna] tends to trade on outbreak headlines well beyond the underlying commercial implications," Evercore analysts said in the note published on May 7. "With regards to current headlines, we see no meaningful revenue opportunity."

"Hantavirus is a low-incidence, structurally small market, and we view any potential outsized moves as sentiment-driven, not fundamental. At most, it reinforces Moderna's mRNA platform agility, something already well understood post-COVID," they added.

Meanwhile, vaccine development firm Inovio Pharmaceuticals fell 1%, while biotech firms Novavax and Emergent BioSolutions each fell 5% and 1%, respectively. All three stocks had seen gains in early trading.

U.S. President Donald Trump has said the cruise ship outbreak is under control and that a report on the virus would follow soon.

"It's very much, we hope, under control," Trump told reporters Thursday. "It was the ship, and I think we're going to make a full report about it tomorrow. We have a lot of people. ... It should be fine."

What is hantavirus and how serious is the outbreak?The Hantavirus strain in this case is the Andes virus, which is the only species that can cause transmission between humans, according to the WHO.

WHO's Director General Tedros Adhanom Ghebreyesus said Friday that eight cases have been reported so far, with three deaths, and five of the cases confirmed as hantavirus. The WHO has assessed the "public health risk as low," Ghebreyesus said.

The MV Hondius has now docked in Tenerife in Spain's Canary Islands, after spending several days offshore awaiting clearance.

Passengers and crew have begun disembarking under strict health protocols, with authorities coordinating testing, isolation, and repatriation efforts across multiple countries as they continue to monitor the spread of the virus.

May 20, 2026 07:30 ET  | Source: Emergent BioSolutions

GAITHERSBURG, Md., May 20, 2026 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) announced today that members of the company’s senior management team will participate in the following investor conferences:

Goldman Sachs 11th Annual Leveraged Finance and Credit Conference, May 27-29
Benchmark 6th Annual Healthcare House Call Virtual Investor Conference, May 28
Jefferies Global Healthcare Conference, June 2-4
June 3: presentation and webcast, 1:20-1:50 p.m. eastern time, register here. Goldman Sachs 47th Annual Global Healthcare Conference, June 8-10 June 8: presentation and webcast, 2:00-3:00 p.m. eastern time, register here.
Please contact a conference representative to request one-on-one meetings.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]  

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]

GAITHERSBURG, Md., June 04, 2026 (GLOBE NEWSWIRE) -- In honor of National Naloxone Awareness Day on June 6th, Emergent BioSolutions Inc. (NYSE: EBS) is teaming up with Victoria’s Voice Foundation – which launched the awareness day with bipartisan congressional support – to spread awareness and encourage action against the ongoing opioid epidemic. Serving as a tribute to Victoria Siegel and all those lost to overdoses, Victoria’s Voice is continuing the "Shine. Wear. Share. Care." Campaign, which promotes education and preparedness by distributing purple light bulbs (Shine), wearable promotional items (Wear), encouraging social media participation via QR codes with #sharenaloxone (Share), and providing boxes of NARCAN® Nasal Spray (Care), supplied by Emergent.

“As we mark another National Naloxone Awareness Day, we continue to honor the memory of my daughter, Victoria, and so many others lost to opioid overdose by sharing her story and helping communities be prepared,” said Jackie Siegel, co-founder of Victoria’s Voice Foundation. “This day is a powerful reminder of the impact we can have when we come together to address this crisis. We are grateful for Emergent’s continued support and we’re proud of our shared commitment to saving lives through naloxone education and access.”

A crucial step in opioid emergency preparedness is ensuring lifesaving tools are readily available. Emergent is committed to expanding awareness and access to NARCAN® Nasal Spray across as many communities as possible, through efforts such as the new NARCAN® Nasal Spray Carrying Case. The case is designed to be compact, discreet and durable, making it easy to keep naloxone on hand in case of an opioid emergency.

“We are proud to work alongside Victoria’s Voice Foundation as the presenting sponsor of National Naloxone Awareness Day to raise awareness about the critical, lifesaving role naloxone plays in addressing the ongoing opioid epidemic,” said Paul Williams, senior vice president, head of products business, global government & public affairs at Emergent. “On a broader scale, we are encouraged by the progress being made at the national level, including the White House’s 2026 National Drug Control Strategy, which encourages expanding access to naloxone and strengthening overdose response efforts. At Emergent, we remain dedicated to partnering with advocacy groups, like Victoria’s Voice, leaders and organizations to help turn this momentum into meaningful impact.”

Building on this mission, Emergent is continuing the Ready to Rescue initiative this fall, where campaign spokesperson, Zac Clark, will help bring the program to additional colleges and universities. Here, he will speak with students and faculty about his recovery story and how to use and access NARCAN® Nasal Spray.

“I know firsthand the challenges of opioid dependency through my personal experience and the many individuals I’ve supported on their recovery journeys,” said Zac Clark, founder & CEO of Release Recovery and NARCAN® Nasal Spray spokesperson. “National Naloxone Awareness Day is an important reminder of the work we can all do to help combat the opioid epidemic. Every conversation and step toward preparedness helps break stigma and save more lives. That’s why I’m proud of the work Emergent and I are doing to bring resources, like NARCAN® Nasal Spray, to more people because you never know when you can save someone’s life.”

NARCAN® Nasal Spray was the first U.S. Food and Drug Administration approved over-the-counter opioid overdose reversal treatment, marking a significant milestone in making this critical intervention more readily available to the general public. In 2025, Emergent gained exclusive commercial rights to distribute KLOXXADO® (naloxone HCl) Nasal Spray 8 mg, a prescription option for those who choose to administer a higher dose of naloxone*. As such, Emergent is the leading U.S. supplier of nasal naloxone and offers an expanded range of products to support public interest groups, workplaces/businesses, as well as patients, consumers and healthcare providers, including:

NARCAN® Nasal Spray 4 mg (two single-dose devices/carton)NARCAN® Nasal Spray Wall Unit Kit: includes wall unit cabinet with alarm, directions for use poster and wayfinder signNARCAN® Nasal Spray Carrying Case: includes two single-dose devicesNARCAN® Nasal Spray 6-count and 24-count multipacksKLOXXADO® Nasal Spray 8 mg (two single-dose devices/carton)Convenience Kits: includes medical grade components, including one hard case with internal pockets, one medical grade CPR mask, one pair of nitrile examination gloves For more information about National Naloxone Awareness Day and how to get involved, visit VictoriasVoice.foundation. Visit one of Emergent’s product sites, KLOXXADO.com and NARCAN.com to learn how to be prepared in an opioid overdose emergency with life-saving intranasal naloxone.

*The clinical significance of a higher dose has not been established.

About NARCAN® Nasal Spray
NARCAN® Naloxone HCl Nasal Spray 4 mg is the first FDA-approved, over-the-counter (OTC) 4 mg naloxone product for the emergency treatment of opioid overdose. NARCAN® Nasal Spray is not a substitute for emergency medical care. Repeat dosing may be necessary. Use as directed.

Indication and Important Safety Information for KLOXXADO® (naloxone HCl) Nasal Spray 8 mg
What is KLOXXADO® Nasal Spray?

KLOXXADO® Nasal Spray is a prescription medicine used for the treatment of an opioid emergency such as an overdose or a possible opioid overdose in adults and children with signs of breathing problems and severe sleepiness or not being able to respond.KLOXXADO® Nasal Spray is to be given right away and does not take the place of emergency medical care.Get emergency medical help right away after giving the first dose of KLOXXADO® Nasal Spray, even if the person wakes up. What is the most important information I should know about KLOXXADO® Nasal Spray?
Get emergency medical help right away after giving the first dose of KLOXXADO® Nasal Spray. The signs and symptoms of an opioid emergency can return after KLOXXADO® Nasal Spray is given. If this happens, give another dose after 2 to 3 minutes using a new KLOXXADO® Nasal Spray and watch the person closely until emergency help is received.
The medicine in KLOXXADO® Nasal Spray is safe to use in people who are not taking opioids. KLOXXADO® Nasal Spray is not intended for self-administration.

What should I tell my healthcare provider (pharmacist or prescriber) before using KLOXXADO® Nasal Spray?
Before using KLOXXADO® Nasal Spray, tell your healthcare provider about all of your medical conditions, including if you:

have heart problemsare pregnant or plan to become pregnant. Use of KLOXXADO® Nasal Spray may cause withdrawal symptoms in your unborn baby. Your unborn baby should be examined by a healthcare provider right away after you use KLOXXADO® Nasal Spray.are breastfeeding or plan to breastfeed. It is not known if KLOXXADO® Nasal Spray passes into your breast milk. What are the possible serious side effects of KLOXXADO® Nasal Spray?
KLOXXADO® Nasal Spray may cause sudden opioid withdrawal symptoms including body aches, diarrhea, increased heart rate, fever, runny nose, sneezing, goose bumps, sweating, yawning, nausea or vomiting, nervousness, restlessness or irritability, shivering or trembling, stomach cramping, weakness, and increased blood pressure. In infants under 4 weeks old who have been receiving opioids regularly, sudden opioid withdrawal may be life-threatening if not treated the right way. Signs and symptoms include seizures, crying more than usual, and increased reflexes.

Who should not use KLOXXADO® Nasal Spray?
Do not use KLOXXADO® Nasal Spray if you are allergic to naloxone hydrochloride or any of the ingredients in KLOXXADO® Nasal Spray.

What are the most common side effects of KLOXXADO® nasal spray?
The most common side effects of KLOXXADO® Nasal Spray in adults include stomach-area (abdomen) pain, weakness, dizziness, headache, nose (nasal) discomfort, and a feeling like you are going to faint.
These are not all of the possible side effects of KLOXXADO® Nasal Spray. Please see full Prescribing Information, including Patient Information, which includes a more complete discussion of the risks associated with KLOXXADO® Nasal Spray. Always contact your healthcare provider (pharmacist or prescriber) if you have questions or experience any side effects.
You are encouraged to report negative side effects to the FDA at: 1-800-FDA-1088 or www.fda.gov/medwatch. You can also contact Hikma Specialty USA Inc. at: [email protected] or call 1-877-845-0689 or 1-800-962-8364.

Trademarks and logos are the property of their respective owners.

About Victoria’s Voice Foundation 
David and Jackie Siegel established Victoria’s Voice Foundation after losing their 18-year-old daughter to an accidental drug overdose on June 6, 2015. Victoria’s Voice is dedicated to providing support and resources to families affected by substance use disorder and misuse. Since its founding, Victoria’s Voice has positively impacted more than 2 million parents and children through its education programs. For more information about Victoria’s Voice, visit www.victoriasvoice.foundation or @victoriasvoicefoundation on all major social media platforms.

About Emergent BioSolutions
At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify. 

Investor Contact:
Richard S. Lindahl
Executive Vice President, CFO
[email protected]

Media Contact:
Assal Hellmer
Vice President, Communications
[email protected]