24/7 Market News Snapshot 19 August, 2024 – Emergent Biosolutions, Inc. (NYSE:EBS)

August 19, 2024

DENVER, Colo., 19 August, 2024 (247marketnews.com) – (NYSE:EBS) are discussed in this article.
Emergent BioSolutions, Inc. (EBS) has recently demonstrated remarkable bullish momentum, opening the trading day at $10.99 before reaching a current price of $12.15, marking a significant increase of 12.8%. This positive shift in trading reflects growing investor confidence, supported by a trading volume of 11.94 million shares, highlighting heightened market interest. To sustain this upward trajectory, analysts suggest that EBS must maintain momentum above the crucial $12 resistance level. Investors are advised to monitor volume patterns and potential retracement points to effectively capitalize on this trend while managing associated risks.

Simultaneously, Emergent BioSolutions is reinforcing its commitment to global health through a strategic partnership with the World Health Organization (WHO) and the U.S. government to address the ongoing mpox outbreak. In a significant move, the company has committed to donating 50,000 doses of its ACAM2000® vaccine to support frontline efforts in combating this urgent health crisis impacting various regions. Following the WHO’s designation of mpox as a public health emergency of international concern, the ACAM2000® vaccine is expected to play a crucial role in curtailing virus transmission, especially in hard-to-reach areas.

Dr. Raina McIntyre, a noted expert in global biosecurity, emphasized that up to 10 million doses may be critical for effectively managing the epidemic across certain areas. In response, Emergent is prepared to ramp up its supply capabilities, with an additional 40 million doses available for distribution if needed. The company has also submitted a supplemental Biologics License Application (sBLA) to the FDA to broaden the vaccine’s usage against the mpox virus, targeting completion by the third quarter of 2024.

Joe Papa, president and CEO of Emergent BioSolutions, highlighted the company’s dedication to scaling its response and collaborating with public health leaders globally, reinforcing its mission to enhance public health resilience.

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