NightHawk Biosciences Announces Major Milestone With Completion Of Manufacturing Run For A Premier U.S.-Based Biopharmaceutical Company; Advances Multi-million Dollar Biomanufacturing Contract Awarded Earlier This Year
Portfolio Pulse from Benzinga Newsdesk
NightHawk Biosciences (NYSE:NHWK) has completed a manufacturing run for a premier U.S.-based biopharmaceutical company at its Scorpius BioManufacturing facility. This marks a significant milestone and advances a multi-million dollar contract awarded earlier in the year. The company expects to recognize revenue from this contract in 2024 and is preparing for commercial-scale production following regulatory filings. NightHawk's CEO Jeff Wolf highlighted the strong interest in their CDMO services and the recent organizational streamlining to focus on CDMO activities, which are anticipated to generate significant revenue and cash flow.
December 18, 2023 | 1:40 pm
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POSITIVE IMPACT
NightHawk Biosciences has successfully completed a key manufacturing run, advancing a significant contract and setting the stage for future revenue recognition in 2024. The company's focus on CDMO services is expected to drive meaningful revenue and cash flow.
The successful manufacturing run and the advancement of a multi-million dollar contract are positive indicators for NightHawk Biosciences' future revenue and profitability. The company's focus on CDMO services in a market with high demand and the streamlining of its operations to concentrate on these services are likely to be viewed favorably by investors. This news could lead to increased investor confidence and a potential short-term uptick in NHWK's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100