Why Emergent Biosolutions Stock Is Surging Today

Emergent Biosolutions Inc EBS shares are trading higher Wednesday following reports the U.S. Food and Drug Administration approved the company's Naloxone nasal spray for over-the-counter use.

What To Know: Emergent Biosolutions' Naloxone spray, also known as Narcan, is used to reverse the effects of opioids, especially amid signs of an overdose. According to a Reuters report, the FDA approved the drug to be sold nationwide without a prescription.

The news comes a month after an independent panel of advisors unanimously recommended over-the-counter use of the drug. 

U.S. drug-related overdose deaths increased approximately 15% year-over-year in 2021, per Reuters, citing official data.

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EBS Price Action: Emergent Biosolutions has a 52-week high of $45.02 and a 52-week low of $7.74.

The stock was up 18.9% at $10.59 at time of publication, according to Benzinga Pro.

Photo: courtesy of Emergent Biosolutions.