Emergent BioSolutions Inc. (NYSE: EBS) went up by more than 10% in after-hours trading on Thursday after the specialty biopharmaceutical company announced a contract worth $379.6 million with the U.S. military.
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This would be an indefinite-delivery, indefinite-quantity procurement contract and as a part of this agreement, EBS will supply RSDL (Reactive Skin Decontamination Lotion Kit) for use by all branches of the U.S. military.
Emergent’s Canadian subsidiary, Canadian Commercial Corporation (CCC) will be the sole subcontractor for this contract. This contract has a “base year, which began in December 2022, and four single year option renewals.”
Analysts are sidelined about EBS stock with a consensus Hold rating based on one Buy and four Holds.
