Emergent BioSolutions Inc. (EBS) saw a 19% surge in premarket trading on Thursday following a favorable FDA advisory committee vote in favor of over-the-counter sales of Narcan, an opioid overdose reversal medication. Emergent has submitted a new drug application to the FDA for OTC naloxone nasal spray with a decision expected on March 29. The stock has gained 22.4% over the last three months, compared to the S&P 500’s 4.4% increase.
Shares of Emergent BioSolutions Inc.
EBS,
rallied about 19% in premarket trading on Thursday, the day after a Food and Drug Administration advisory committee voted in favor of allowing over-the-counter sales of Narcan, the opioid overdose reversal medication. The FDA is not required to follow the advice of the committee but often does. Emergent has submitted a new drug application to the FDA for OTC naloxone nasal spray, and the regulator is expected to make a decision whether to approve the drug by March 29. Emergent’s stock has gained 22.4% over the past three months, while the S&P 500
SPX,
is up 4.4%.
