On Thursday, Emergent BioSolutions Inc. ( EBS ) stock is trading higher on mixed third-quarter earnings and a new mpox trial in Africa.

The company reported third-quarter sales of $293.8 million, up 9% year over year, with the management guidance of $265 million–$315 million, and missing the consensus of $297.5 million.

The company reported an adjusted EPS of $1.37, a turnaround from a loss of $1.09 a year ago, beating the consensus of $0.14.

Revenues from Narcan (naloxone HCl) Nasal Spray decreased 33% to $95.3 million, primarily driven by the discontinuation of prescription Narcan due to the launch of over-the-counter Narcan in the third quarter of 2023 and lower Canadian retail sales, partially offset by higher sales of OTC Narcan.

Also Read: Emergent BioSolutions Confirms Orders Worth $400M Related To Smallpox, Mpox Vaccines

Revenues from Anthrax MCM fell 65% to $11.4 million, and Smallpox MCM sales jumped more than fivefold to $132.7 million.

Guidance: Emergent BioSolutions ( EBS ) updated its 2024 revenue guidance from $1.05 billion – $1.125 billion to $1.065 billion – $1.125 billion, compared to the consensus of $1.123 billion.

The updated guidance includes commercial product sales of $420 million – $430 million compared to prior guidance of $450 million – $480 million.

MCM Product sales outlook of $510 million – $550 million, compared to $455 million – $490 million expected earlier.

Services segment sales are expected to be $105 million – $110 million, lower than the prior range of $120 million – $130 million.

The company expects a 2024 net loss of $203 million – $183 million, compared to the previous loss range of $314 million – $274 million, and an adjusted EBITDA of $180 million – $200 million compared to previous forecast of $140 million – $180 million.

Concurrently, Emergent BioSolutions ( EBS ) announced that brincidofovir (brand name Tembexa for smallpox treatment) will be included in a trial conducted and sponsored by PANTHER, under the leadership of the Africa Centres for Disease Control and Prevention.

The study will evaluate the safety and efficacy of brincidofovir in treating mpox virus. The trial is scheduled to begin in the coming weeks in the Democratic Republic of Congo and neighboring countries.

Price Action: EBS stock is up 28.3% at $11.80 at last check Thursday.

Read Next:

Ralph Lauren Soars As Q2 Results Outpace Expectations—CEO Eyes Holiday Season With Raised Revenue Goals