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Fly News Breaks for April 2, 2019
EBS, PFNX
Apr 2, 2019 | 10:18 EDT
The decision by the Department of Health and Human Services' Biomedical Advanced Research and Development Authority not to exercise development options on Pfenex's (PFNX) anthrax program is good news for Emergent BioSolutions (EBS), Wells Fargo analyst David Maris tells investors in a research note. Emergent currently sells BioThrax, a vaccine indicated for the active immunization for the prevention of disease caused by anthrax, Maris points out. In addition, NuThrax is the company's most important pipeline product as it represents an improvement on BioThrax, says the analyst. He sees the move by BARDA on the Pfenex program as underscoring its belief in the BioThrax and NuThrax programs. Maris keeps a Market Perform rating on Emergent BioSolutions with a $68 price target. The stock in early trading is up 58c to $50.81.
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