Phibro Animal Health Corp (NASDAQ:PAHC) and Dyadic International Inc (NASDAQ:DYAI) have entered into an exclusive license agreement for a Phibro targeted disease.
- Dyadic granted Phibro an exclusive license for its proprietary C1 -cell protein production platform to produce specific targeted antigens for developing and commercializing a poultry vaccine for a Phibro targeted disease.
- The parties will continue developing a vaccine candidate using Dyadic's C1 cells.
- Phibro Earnings: Phibro posted Q2 FY22 sales of $232.7 million, +13% Y/Y, beating the consensus of $217.14 million.
- Adjusted EPS increased 9% to $0.37, surpassing the consensus of $0.33.
- The gross margin decreased 270 basis points to 30.4%. Adjusted EBITDA reached $29.1 million.
- Guidance: Phibro revised its FY22 sales to $890 million – $920 million, up from $860 – $890 million.
- It Raised adjusted EPS guidance to $1.30 - $1.39, from $1.25 –$1.32.
- The Company expects adjusted EBITDA of approximately $110.0 – $114.0 million.
- Price Action: DYAI stock is down 0.25% at $4.03, and PAHC shares are up 5.59% at $19.70 during the market session on the last check Thursday.
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