Why Emergent BioSciences Stock Is Falling Today
Shares of Emergent BioSolutions (NYSE: EBS) were falling 10.3% as of 11:45 a.m. EDT on Tuesday. The drop came after Johnson & Johnson announced that it had paused its late-stage study of coronavirus vaccine candidate JNJ-78436735 because of an unexplained illness with one participant. In July, Emergent BioSolutions signed a five-year deal with J&J to manufacture its lead COVID-19 vaccine candidate.
Today's sell-off of Emergent BioSolutions could very well be an overreaction. There's a good chance that Johnson & Johnson's pause of its late-stage study will only be temporary, with no effect on Emergent's manufacturing of JNJ-78436735.
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Source Fool.com
