Emergent BioSolutions receives non-compliance notice from NYSE

Emergent BioSolutions confirmed that on November 16, 2023, the New York Stock Exchange sent a notice that the company is not in compliance with Section 802.01E of the NYSE Listed Company Manual due to a delay in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 with the Securities and Exchange Commission. Notices are routinely issued by the NYSE in such situations. Under the NYSE’s rules, Emergent will have six months from November 9, 2023 to file the Form 10-Q with the SEC, and can regain compliance with the NYSE listing standards upon filing the Form 10-Q. As previously disclosed in the Company’s Form 12b-25 filed with the SEC on November 9, 2023, the Company is working to quantify and evaluate the impact to its reporting regarding past period state deferred tax liability and income tax benefits. Because these items also affect subsequent period reporting, the Company must complete this work prior to finalizing its financial statements for the three and nine months ended September 30, 2023 and filing its third quarter Form 10-Q. Emergent is unable to provide a complete estimate of its results of operations for the three- and nine-month periods ended September 30, 2023 while it finalizes the state tax adjustments referenced above. In addition, Emergent is continuing to assess the impact of these adjustments on prior periods and accordingly is unable to provide a comparison of its current results to the three- and nine-month periods ended September 30, 2023.