Shares of Emergent Biosolutions (EBS) are up today thanks to a strong second-quarter earnings report:
The Rockville-based company had second-quarter revenue of $73.2 million, compared with $42.3 million in the same quarter a year ago.
Net income was $14.8 million, or 49 cents per share, compared with $1.8 million, or 6 cents per share, a year earlier.
Emergent attributed the significantly higher results primarily to sales of its BioThrax anthrax vaccine and a lump-sum payment from the Department of Health and Human Services after the Food and Drug Administration approved a longer shelf life for the anthrax vaccine.
Emergent has supplied the government with 33 million doses of its BioThrax vaccine so far. It is contracted to supply the government stockpile through late 2011.
The stock has been up by as much as 20% in today’s session. EBS continues to be a good buy.