EXHIBIT 99
  

EMERGENT BIOSOLUTIONS REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS

-
Reaffirms full year 2018 financial forecast and operational goals
-
Provides Q2 2018 revenue forecast of $205M-$230M

GAITHERSBURG, Md., May 3, 2018
Emergent BioSolutions Inc. (NYSE: EBS) reported financial results for the quarter and three months ended March 31, 2018.

FINANCIAL HIGHLIGHTS
(in millions, except per share value)
 
Q1 2018
(unaudited)
   
Q1 2017
(unaudited)
 
Total Revenues
 
$
117.8
   
$
116.9
 
Net Income (Loss)
Net Income (Loss) Per Diluted Share (1)
 
(4.9
($0.1
)
)
 
$
10.5
$0.23
 
Adjusted Net Income (Loss) (2)
Adjusted Net Income (Loss) Per Diluted Share (2)
 
(1.6
($0.03
)
)
 
$
14.3
$0.29
 
EBITDA (2)
EBITDA Per Diluted Share (2)
 
$
3.1
$0.06
   
$
25.4
$0.51
 

Q1 2018 AND RECENT BUSINESS ACCOMPLISHMENTS
Procurement Contract
·
Awarded a contract valued at up to $26 million over 12 months by the Centers for Disease Control and Prevention for the continued supply of VIGIV [Vaccinia Immune Globulin Intravenous (Human)] into the U.S. Strategic National Stockpile. VIGIV is the only therapeutic licensed by the U.S. Food and Drug Administration for the treatment of complications due to smallpox vaccination.
Product Development
·
Completed Mutual Recognition Procedure for market authorization of BioThrax® (Anthrax Vaccine Adsorbed) in five Concerned Member States within the European Union – Italy, the Netherlands, Poland, the U.K. and France.
·
Initiated, together with Valneva, a Phase 1 clinical trial in the U.S. to evaluate the safety and immunogenicity of VLA1601, our vaccine candidate against Zika virus, using Valneva's validated expression platform. Initial data from this trial is expected in late 2018 or early 2019.
·
Initiated a Phase 2 dose-ranging study to evaluate the safety, pharmacokinetics, and clinical benefit of FLU-IGIV, an anti-influenza immune globulin being developed as an intravenous treatment for serious illness caused by influenza A infection in hospitalized patients, and developed on the Company's hyperimmune platform, on which several marketed antibody therapeutics have been licensed, including Anthrasil® [Anthrax Immune Globulin Intravenous (human)] and VIGIV. The clinical study will continue to enroll patients through the next influenza season and is expected to be completed in 2019.

2018 FINANCIAL PERFORMANCE

(I) Quarter Ended March 31, 2018 (Unaudited)

Revenues

Total Revenues
For Q1 2018, total revenues were $117.8 million, a slight increase over 2017. Total revenues reflect a delay in the timing of BioThrax deliveries as previously disclosed by the Company on February 22, 2018. In addition, Q1 2018 total revenues were impacted by the delay in the delivery of some ACAM2000®, (Smallpox (Vaccinia) Vaccine Live) shipments during the quarter. The Company has commenced delivery and expects to complete all delayed Q1 deliveries by the end of the second quarter.

Product Sales
For Q1 2018, product sales were $75.8 million, a decrease of 8% as compared to 2017. The decrease is principally attributable to lower BAT® [Botulism Antitoxin Heptavalent (A, B, C, D, E, F, G) - (Equine)] and BioThrax® sales, partially offset by an increase in other product sales, principally attributable to sales of ACAM2000® and Raxibacumab (Anthrax Monoclonal Antibody), both of which were acquired in Q4 2017.


The following information was filed by Emergent Biosolutions Inc. (EBS) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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