11.09.15
Emergent BioSolutions
3Q Revenues: $164.9 million (+20%)
3Q Earnings: $36.9 million (+69%)
YTD Revenues: $354.7 million (+17%)
YTD Earnings: $29.5 million (earnings were $6.6 million YTD14)
Comments: Product sales were $124.0 million, up 47% in the quarter driven by BioThrax sales, up 66% to $109.8 million. Revenue from contract manufacturing operations was $11.3 million, up 20% primarily due to the timing of fill/finish services to third parties. Contracts, grants and collaborations revenue was $29.6 million, down 33% primarily due to recognition in 2014 of $15.3 million of the upfront fee related to MOR209/ES414, the company’s prostate cancer drug being developed in collaboration with MorphoSys AG. R&D expenses were $41.9 million, a decrease of 5%. In the quarter, the company announced its plan to spin-off its Biosciences business, Aptevo Therapeutics, into a separate publicly traded company, targeted for mid-2016.
3Q Revenues: $164.9 million (+20%)
3Q Earnings: $36.9 million (+69%)
YTD Revenues: $354.7 million (+17%)
YTD Earnings: $29.5 million (earnings were $6.6 million YTD14)
Comments: Product sales were $124.0 million, up 47% in the quarter driven by BioThrax sales, up 66% to $109.8 million. Revenue from contract manufacturing operations was $11.3 million, up 20% primarily due to the timing of fill/finish services to third parties. Contracts, grants and collaborations revenue was $29.6 million, down 33% primarily due to recognition in 2014 of $15.3 million of the upfront fee related to MOR209/ES414, the company’s prostate cancer drug being developed in collaboration with MorphoSys AG. R&D expenses were $41.9 million, a decrease of 5%. In the quarter, the company announced its plan to spin-off its Biosciences business, Aptevo Therapeutics, into a separate publicly traded company, targeted for mid-2016.
