secwatch / observer

Emergent BioSolutions Inc. — fact timeline

Source-grounded facts extracted from Emergent BioSolutions Inc.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.

EBS Emergent BioSolutions Inc. JSON
Earnings Releases

Emergent BioSolutions Inc. reported Q1 2026 results: revenue $156.1, net income $6.8, EPS 0.07.

“($ in millions, except per share amounts) Q1 2026 Q1 2025 % Change Total Revenues $ 156.1 $ 222.2 (30) % Net Income $ 6.8 $ 68.0 (90) % Net Income per Diluted Share $ 0.07 $ 1.19 (94) %”
Earnings Releases

Emergent BioSolutions Inc. reported First Quarter 2026 results: revenue $156.1 million, net income $6.8 million, EPS $0.07.

“First Quarter 2026 Total Revenues of $156.1 million • First Quarter 2026 Net Income of $6.8 million and Net Income Margin of 4% • First Quarter 2026 Adjusted EBITDA of $35.6 million and Adjusted EBITDA Margin of 23%”
Earnings Releases

Emergent BioSolutions Inc. reported first quarter ended March 31, 2026 results: revenue $156.1 million, net income $6.8 million, EPS $0.07.

“and is incorporated herein by reference. --- EX-99.1 (EX-99.1) --- EMERGENT BIOSOLUTIONS REPORTS FIRST QUARTER 2026 FINANCIAL RESULTS • First Quarter 2026 Total Revenues of $156.1 million • First Quarter 2026 Net Income of $6.8 million and Net Income Margin of 4% • First Quarter 2026 Adjusted EBITDA of $35.6 million and Adjusted EBITDA Margin of 23% GAITHERSBURG,”
Material Agreements

Emergent BioSolutions Inc. entered into Term Loan Agreement with OrbiMed Royalty & Credit Opportunities V, LP valued at $150 million (effective 2026-04-16).

“On April 16, 2026, Emergent BioSolutions Inc. (the “Company”) entered into a Credit Agreement (the “Term Loan Agreement”) by and among the Company, the lenders from time to time party thereto, and OrbiMed Royalty & Credit Opportunities V, LP, as administrative agent”
Material Agreements

Emergent BioSolutions Inc. terminated Prior Credit Agreement with OHA Agency LLC.

“repay all amounts outstanding and terminate commitments under the Credit Agreement dated as of August 30, 2024, by and among the Company, the lenders from time to time party thereto and OHA Agency LLC as administrative agent (as amended, the "Prior Credit Agreement")”
Debt Financings

Emergent BioSolutions Inc. incurred term loan of $150 million with OrbiMed Royalty & Credit Opportunities V, LP at Term SOFR (subject to a floor of 3.00%) plus 6.25% per annum maturing April 16, 2031.

“The Term Loan Agreement provides for (i) a term loan (the “Initial Term Loan”) in an aggregate principal amount equal to $150 million, which was drawn in full on the date of entry into the Term Loan Agreement (the “Closing Date”)”

Jennifer Fox departed as Executive Vice President External Affairs, General Counsel and Corporate Secretary at Emergent BioSolutions Inc..

“Emergent BioSolutions, Inc. (the “Company”) announced that Jennifer Fox is resigning as Executive Vice President External Affairs, General Counsel and Corporate Secretary of the Company to pursue an opportunity outside of the Company and will continue in her current role until August 16, 2024.”
Debt Financings

Emergent BioSolutions Inc. amended credit facility of reduce available commitments under the Revolving Credit Facility to $270.0 million through July 30, 2024, to $225.0 mill with Wells Fargo Bank, National Association at amend the interest rate benchmark in the definition of Applicable Margin from (i.

“The Seventh Amendment amends the Existing Credit Agreement to, among other things, (a) reduce available commitments under the Revolving Credit Facility to $270.0 million through July 30, 2024, to $225.0 million from July 31, 2024 through October 30, 2024, and to $200.0 million on October 31, 2024 and thereafter; (b) amend the interest rate benchmark in the definition of Applicable Margin from (i) 5.00% per annum to 7.00% per annum with respect to Base Rate Loans and (ii) 6.50% per annum to 8.50% per annum with respect to SOFR Loans, RFR Loans and Eurocurrency Rate Loans;”
Material Agreements

Emergent BioSolutions Inc. amended Seventh Amendment with Wells Fargo Bank, National Association valued at $270.0 million (effective 2024-04-29).

“On April 29, 2024, Emergent BioSolutions Inc. (the “Company”) entered into a Consent, Waiver and Seventh Amendment to the Amended and Restated Credit Agreement (the “Seventh Amendment”) (the “Seventh Amendment”), among the Company, as borrower, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and certain lenders party thereto.”
Earnings Releases

Emergent BioSolutions Inc. reported the quarter and year ended December 31, 2023 results: revenue $1,049.3, net income $ (760.5), EPS $ (14.85). Guidance raised.

“Gross Margin % (2) 32 % 48 % * % change is greater than +/- 100% Full Year 2023 vs. Full Year 2022 ($ in millions, except per share amounts) 2023 2022 % Change Total Revenues $ 1,049.3 $ 1,117.5 (6) % Net Loss $ (760.5) $ (211.6) * Net Loss per Diluted Share $ (14.85) $ (4.22) * Adjusted Net Loss (2) $ (319.0) $ (99.7) * Adjusted Net Loss per Diluted Share (2) $”
Material Agreements

Emergent BioSolutions Inc. amended Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain lenders valued at $270 million (effective 2024-02-29).

“On February 29, 2024, Emergent BioSolutions Inc. (the “Company”) entered into a Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement (the “Forbearance Agreement and Amendment”), among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and certain lenders party thereto (the “Lenders”).”

Haywood Miller departed as Interim CEO at Emergent BioSolutions Inc..

“Haywood Miller, who will step down from his role as interim CEO of the Company, effective February 21, 2024.”

Joseph C. Papa was appointed as Class II director at Emergent BioSolutions Inc..

“Mr. Papa has been appointed as Class II director of the Board”

Joseph C. Papa was appointed as President and CEO at Emergent BioSolutions Inc..

“appointed Joseph C. Papa as President and CEO of the Company, effective February 21, 2024.”
Listing & Compliance Notices

Emergent BioSolutions Inc. received a nyse noncompliance notice notice regarding late filing (rules 802.01E).

“November 16, 2023, the New York Stock Exchange (the “NYSE”) notified Emergent BioSolutions, Inc. (“Emergent” or the “Company”) that it is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (the “Form 10-Q”). In accordance with the NYSE Listed Company Manual, the Company has contacted the NYSE to discuss the status of its quarterly filing. On November 24, 2023, the Company issued a press release with respect to the receipt of the notice of noncompliance from”
Auditor Changes

Emergent BioSolutions Inc. reported that prior financial statements should not be relied upon.

“should no longer be relied upon due to certain errors in the calculation and review of the Company's net state deferred tax liability”

Neal Fowler was appointed as Class III Director at Emergent BioSolutions Inc..

“On September 28, 2023, the Board of Directors (the “Board”) of Emergent BioSolutions Inc. (the “Company”) appointed Donald DeGolyer and Neal Fowler as Class III directors effective October 1, 2023”

Donald DeGolyer was appointed as Class III Director at Emergent BioSolutions Inc..

“On September 28, 2023, the Board of Directors (the “Board”) of Emergent BioSolutions Inc. (the “Company”) appointed Donald DeGolyer and Neal Fowler as Class III directors effective October 1, 2023”

Jerome Hauer departed as director at Emergent BioSolutions Inc..

“On August 16, 2023, Emergent BioSolutions Inc. (the “Company”), announced that Jerome Hauer, Ph.D., a director of the Company, had passed away on Friday August 11, 2023.”
Restructurings & Charges

Emergent BioSolutions Inc. announced a restructuring with charges of approximately $19.0 million to $21.0 million in charges affecting Bayview facility in Baltimore, Maryland; Canton, Massachusetts; Rockville, Maryland drug product facility (approximately 400 employees).

“On August 8, 2023, Emergent BioSolutions Inc. (the “Company”) announced an organizational restructuring plan (the “Restructuring Plan”) intended to strengthen its core business and financial position by reducing investment in and de-emphasizing focus on its CDMO services business for future growth. The Restructuring Plan includes a reduction of the Company’s current workforce by approximately 400 employees. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries, as well as the Company’s business needs. The Company estimates that it will incur approximately $19.0 million to $21.0 million in charges in connection with the Restructuring Plan, which it expects to incur in the third quarter of fiscal 2023. These charges consist primarily of cash charges related to severance (base bonus), transition services, and estimated benefits cost.”
Earnings Releases

Emergent BioSolutions Inc. reported the second quarter ended June 30, 2023 results: revenue Total Revenues $337.9, net income Net Loss $(261.3), EPS Net Loss per Diluted Share $(5.15).

“by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EMERGENT BIOSO LUTIONS REPORTS FINANCIAL RESULTS FOR SECOND QUARTER 2023 • Reports Q2 2023 total revenues of $338M, above the prior guidance range, net loss of $261M and adjusted EBITDA of $56M • Updates FY 2023 guidance and provides initial Q3 2023 forecast for total revenues GAITHERSBURG,”

Bill Hartzel was appointed as Senior Vice President and head of bioservices (new role: manufacturing operations and Executive Management Team) at Emergent BioSolutions Inc..

“The Company also announced that Bill Hartzel, Senior Vice President and head of bioservices, will assume responsibility for manufacturing operations and will join the Executive Management Team, reporting to the interim CEO, Haywood Miller.”

Adam Havey departed as Chief Operating Officer at Emergent BioSolutions Inc..

“As such, Adam Havey, Executive Vice President and current COO, will be leaving the Company effective September 30, 2023.”

Haywood Miller was appointed as interim Chief Executive Officer at Emergent BioSolutions Inc..

“On June 24, 2023, the Board appointed Haywood Miller of Berkeley Research Group to serve as a non-employee interim Chief Executive Officer, effective immediately, until the Board’s search for a permanent Chief Executive Officer is completed.”

Robert G. Kramer Sr. resigned as President and Chief Executive Officer at Emergent BioSolutions Inc..

“On June 23, 2023, Robert G. Kramer Sr. notified the Board of Directors (the “Board”) of Emergent BioSolutions, Inc. (the “Company”) of his intent to retire from the Company on August 1, 2023 and to resign from his positions as President and Chief Executive Officer and as a director, effective June 24, 2023.”
Material Agreements

Emergent BioSolutions Inc. amended Third Option Exercise with Office of the Assistant Secretary for Preparedness and Response (ASPR), an agency of the U.S. Department of Health and Human Services (HHS) valued at approximately $120 million (effective 2023-05-26).

“On May 26, 2023, Emergent BioSolutions Inc. (including its wholly-owned subsidiaries, “Emergent”), through its wholly-owned subsidiary, Emergent Product Development Gaithersburg Inc., received a contract modification from the Office of the Assistant Secretary for Preparedness and Response (“ASPR”), an agency of the U.S. Department of Health and Human Services (“HHS”), exercising and funding the third of nine annual contract term extension options (the “Third Option Exercise”) for Emergent to supply ACAM2000® (Smallpox (Vaccinia) Vaccine, Live) into the U.S. Strategic National Stockpile (the “SNS”). The Third Option Exercise is valued at approximately $120 million.”
Debt Financings

Emergent BioSolutions Inc. amended credit facility with Wells Fargo Bank, National Association, as administrative agent at SOFR plus a margin of 6.00% until March 31, 2024 maturing May 15, 2025.

“The Credit Agreement Amendment amends the Existing Credit Agreement to, among other things, (a) extend the maturity date of the Senior Secured Credit Facilities from October 13, 2023 to May 15, 2025, (b) reduce the available commitments under the Revolving Credit Facility from $600.0 million to $300.0 million”
Material Agreements

Emergent BioSolutions Inc. entered into Equity Distribution Agreement with Evercore Group L.L.C. and RBC Capital Markets, LLC valued at $150,000,000 (effective 2023-05-17).

“On May 17, 2023, the Company entered into an Equity Distribution Agreement (the “Distribution Agreement”) with Evercore Group L.L.C. and RBC Capital Markets, LLC (together, the “Managers”), as sales agents, under which the Company may offer and sell its common stock, par value $0.001 per share, from time to time having an aggregate offering price of up to $150,000,000 (the “Shares”) during the term of the Distribution Agreement through the Managers.”
Material Agreements

Emergent BioSolutions Inc. amended Fourth Amendment to Amended and Restated Credit Agreement, Waiver and First Amendment to Amended and Restated Collateral Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain lenders (effective 2023-05-15).

“On May 15, 2023, Emergent BioSolutions Inc. (the “Company”) entered into that certain Fourth Amendment to Amended and Restated Credit Agreement, Waiver and First Amendment to Amended and Restated Collateral Agreement (the “Credit Agreement Amendment”), among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and certain lenders party thereto.”
M&A Transactions

Emergent BioSolutions Inc. completed a disposition involving Bavarian Nordic for $270 million (closed 2023-05-15).

“the Company’s manufacturing site in Bern, Switzerland; and certain of its development facilities in San Diego, California. At the closing, Buyer paid a cash purchase price of $270 million, exclusive of customary closing adjustments for cash, indebtedness, working capital and transaction expenses of the business at closing (the "Purchase Price"). Bavarian Nordic”
Earnings Releases

Emergent BioSolutions Inc. reported the first quarter ended March 31, 2023 results: revenue $165M, net income $183M, EPS $(3.65) per diluted share.

“Reports Q1 2023 total revenues of $165M, above the prior guidance range, net loss of $183M and adjusted EBITDA of negative $101M”
Material Agreements

Emergent BioSolutions Inc. amended First Amendment to the Consent, Limited Waiver, and Third Amendment to the Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain lenders valued at Extended Limited Waiver of defaults or events of default resulting from violation of financial coven (effective 2023-04-17).

“On April 17, 2023, Emergent BioSolutions Inc. (the “Company”) entered into a First Amendment (the “Waiver Amendment”) to the Consent, Limited Waiver, and Third Amendment to the Amended and Restated Credit Agreement dated February 14, 2023 (the “Credit Agreement Amendment”) among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”), and certain lenders party thereto.”

Atul Saran departed as Chief Strategy and Development Officer at Emergent BioSolutions Inc..

“On March 17, 2023, in connection with the elimination of his position as Chief Strategy and Development Officer, the Company entered into a Separation Agreement (the “Separation Agreement”) with Atul Saran.”
Earnings Releases

Emergent BioSolutions Inc. reported Full Year 2022 results: revenue $1,120.9, net income $(223.8), EPS $(4.47). Guidance initiated.

“Full Year 2022 vs. Full Year 2021 ($ in millions, except per share amounts) Full Year 2022 Full Year 2021 % Change Total Revenues $1,120.9 $1,792.7 (37)% Net Income (Loss) $(223.8) $230.9 * Net Income (Loss) per Diluted Share $(4.47) $4.27 *”
Earnings Releases

Emergent BioSolutions Inc. reported Q4 2022 results: revenue $330.7, net income $(88.0), EPS $(1.76). Guidance initiated.

“Q4 2022 vs. Q4 2021 ($ in millions, except per share amounts) Q4 2022 Q4 2021 % Change Total Revenues $330.7 $723.2 (54)% Net Income (Loss) $(88.0) $189.3 * Net Income (Loss) per Diluted Share $(1.76) $3.50 *”
Material Agreements

Emergent BioSolutions Inc. entered into Consent, Limited Waiver, and Third Amendment to the Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and certain lenders valued at Consent to Business Sale; limited waiver of defaults related to financial covenants and going concer (effective 2023-02-14).

“On February 14, 2023, the Company entered into a Consent, Limited Waiver, and Third Amendment to the Amended and Restated Credit Agreement (the “Credit Agreement Amendment”) among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”), and certain lenders party thereto.”
Material Agreements

Emergent BioSolutions Inc. entered into Purchase and Sale Agreement with Bavarian Nordic valued at Cash purchase price of $270 million, milestone payments of up to $80 million, and earnout payments o (effective 2023-02-15).

“On February 15, 2023, Emergent BioSolutions Inc. (“Emergent”), through its wholly owned subsidiaries Emergent International Inc. and Emergent Travel Health Inc. (collectively the “Company”) entered into a Purchase and Sale Agreement (the “Definitive Agreement”) with Bavarian Nordic (“Bavarian”) for the sale of the Company’s travel health business (the “Business”), including rights to Vivotif®, the licensed typhoid vaccine, Vaxchora®, the licensed cholera vaccine, the development-stage chikungunya vaccine candidate CHIKV VLP, the Company’s manufacturing site in Bern, Switzerland and certain of its development facilities in San Diego, California (collectively, the “Business Sale”).”
Earnings Releases

Emergent BioSolutions Inc. reported full-year 2022 results: revenue $1,100-$1,120 million, net income $(210)-$(190) million.

“Total revenues for 2022 are expected to be in the range of $1,100 million to $1,120 million”
Restructurings & Charges

Emergent BioSolutions Inc. announced a restructuring with charges of $9.0M to $11.0M affecting the Company (approximately 5 percent).

“On January 9, 2023, the Company also announced an organizational restructuring plan (the “Plan”) intended to reduce operating costs, improve operating margins, and continue advancing the Company’s ongoing commitment to profitable growth. The Plan includes a reduction of the Company’s current workforce by approximately 5 percent.”

Paul Williams was appointed as Senior Vice President Products Business at Emergent BioSolutions Inc..

“The Company also announced the appointment of Paul Williams as the Company’s Senior Vice President Products Business, reporting to the Company’s CEO, Robert Kramer.”

Atul Saran departed as Chief Strategy and Development Officer at Emergent BioSolutions Inc..

“Atul Saran, the Company’s Chief Strategy and Development Officer, will cease employment with the Company on or about March 17, 2023.”
Earnings Releases

Emergent BioSolutions Inc. reported the third quarter ended September 30, 2022 results: revenue Total Revenues $240.0, net income Net Loss $(75.7), EPS Net Loss per Diluted Share $(1.52).

“to deliver results for our patients, customers, and shareholders.” FINANCIAL HIGHLIGHTS (1) ($ in millions, except per share amounts) Q3 2022 Q3 2021 % Change Total Revenues $240.0 $329.0 (27)% Net Loss $(75.7) $(32.7) * Net Loss per Diluted Share $(1.52) $(0.61) * Adjusted Net Loss (2) $(63.2) $(19.3) * Adjusted Net Loss (2) per Diluted Share $(1.27)”

Sujata Dayal was appointed as Class II Director at Emergent BioSolutions Inc..

“the Board of Directors (the “Board”) of Emergent BioSolutions Inc. (the “Company”) appointed Sujata Dayal as a Class II director of the Company, effective as of July 15, 2022”

Fuad El-Hibri resigned as Executive Chairman at Emergent BioSolutions Inc..

“Fuad El-Hibri, Founder and Executive Chairman of the Board, notified the Company of his retirement and resignation as an officer, director and employee of the Company, effective as of April 1, 2022”

Keith Katkin was appointed as Class I director at Emergent BioSolutions Inc..

“the Board of Directors (the “Board”) of Emergent BioSolutions Inc. (the “Company”) appointed Keith Katkin as a Class I director of the Company, effective as of April 1, 2022”

Fuad El-Hibri departed as Executive Chairman at Emergent BioSolutions Inc..

“The Executive Chairman, who has announced that he will retire from the Company effective April 1, 2022, will not receive an annual equity grant.”

Fuad El-Hibri departed as Executive Chairman of the Board at Emergent BioSolutions Inc..

“On January 13, 2022, Fuad El-Hibri, Founder and Executive Chairman of the Board of Directors (the “Board”) of Emergent BioSolutions Inc. (the “Company”), notified the Company of his retirement and resignation as an officer, director and employee of the Company, effective as of April 1, 2022.”

Adam Havey changed role as Executive Vice President and Chief Operating Officer at Emergent BioSolutions Inc..

“In connection with that reorganization, Adam Havey’s role is expanded to Executive Vice President and Chief Operating Officer of the Company.”

Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.