Scorpius Holdings Commends the U.S. House of Representatives’ Passage of the BIOSECURE Act
12 September 2024 - 2:00PM
Scorpius Holdings, Inc (NYSE
American: SCPX) (“Scorpius” or “the
Company”), an integrated contract development and manufacturing
organization ("CDMO"), today commended the U.S. House of
Representatives on the passage of the
BIOSECURE
Act (the “Act”), a pivotal piece of legislation passed
with strong bipartisan support following a 306-81 vote earlier this
week.
The Act is designed to ensure the security of
America’s pharmaceutical supply chain, strengthen national
biosecurity, and improve overall preparedness for future public
health emergencies. The Act now moves to the U.S. Senate,
representing a critical step in bolstering the country's
biotechnology and biomanufacturing infrastructure to ensure
long-term public health resilience in the face of challenges from
America’s adversaries.
The BIOSECURE Act aims to secure the U.S.
pharmaceutical supply chain by restricting U.S. Government-funded
drug developers from contracting with select China-based
biomanufacturing companies of concern for production of their
drugs. The Act is designed to reduce U.S. dependence on foreign
owned and operated biomanufacturing supply chains which will
enhance national security and generate more on-shoring jobs focused
on improving robustness in us health care systems.
Jeff Wolf, CEO of Scorpius, stated, “We owe a
debt of gratitude to Reps. Wenstrup, Krishnamoorthi, and Moolenaar
for their leadership in advancing the BIOSECURE Act, that enhances
America’s health security and protects our supply chain from
foreign threats. The BIOSECURE Act enables Scorpius to leverage our
expertise and resources to support America’s biopharmaceutical
companies that collaborate with the U.S. Government in the
production of their drugs. We believe that our cutting-edge
biomanufacturing expertise, purpose-built capabilities, combined
with our modern US-based production facilities gives us a distinct
advantage in addressing the changing demands of biopharmaceutical
companies and government agencies tasked with managing biological
threats. We are fully dedicated to fast-tracking the development of
medical countermeasures and delivering scalable, forward-thinking
solutions that protect public health and reinforce national
security.
"The BIOSECURE Act enhances our ability to
deliver impactful, timely responses in critical moments of need.
With the passage of the BIOSECURE Act, we foresee significant
opportunities to further expand our already robust pipeline of
projects. As a result of this legislation, we expect a growing
demand for domestic production capabilities and biomanufacturing
services, positioning Scorpius as a key partner for pharmaceutical
companies navigating these changes,” concluded Mr. Wolf.
Scorpius Holdings, Inc.
Scorpius Holdings, Inc. is an integrated
contract development and manufacturing organization (CDMO) focused
on rapidly advancing biologic and cell therapy programs to the
clinic and beyond. Scorpius offers a broad array of analytical
testing, process development, and manufacturing services to
pharmaceutical and biotech companies at its state-of-the-art
facilities in San Antonio, TX. With an experienced team and new,
purpose-built U.S. facilities, Scorpius is dedicated to transparent
collaboration and flexible, high-quality biologics
biomanufacturing. For more information, please visit
www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. In some cases, forward-looking statements can be
identified by terminology such as "may," "should," "potential,"
"continue," "expects," "anticipates," "intends," "plans,"
"believes," "estimates," and similar expressions, and include
statements such as the BIOSECURE Act representing a pivotal
opportunity for Scorpius to leverage its expertise and resources to
support America’s biopharmaceutical companies who are responding to
indications of interest to the U.S. Government in the production of
their drugs; the Company’s cutting-edge biomanufacturing expertise,
purpose-built capabilities, combined with its modern US-based
production facilities, giving it a distinct advantage in addressing
the changing demands of biopharmaceutical companies and government
agencies tasked with managing biological threats; the legislation
enhancing the Company’s ability to deliver impactful, timely
responses in critical moments of need; the passage of the BIOSECURE
Act resulting in significant opportunities to further expand the
Company’s already robust pipeline of projects; positioning Scorpius
as a key partner for pharmaceutical companies navigating the
changes from the expected growing demand for domestic production
capabilities and biomanufacturing services; and the Company’s
advanced facilities and expertise making it well-equipped to meet
the increasing need for reliable, secure supply chains in the U.S.,
further strengthening the Company’s position in the market.
Important factors that could cause actual results to differ
materially from current expectations include, among others, the
ability of the Company to derive the anticipated benefits form the
BIOSECURE Act; the Company’s ability to expand its large molecule
biomanufacturing CDMO services, attract new customers, profit from
its pipeline and continue to grow revenue; the ability to capture a
meaningful market share; the ability to generate meaningful cash
flow and become cash flow positive; the Company’s financing needs,
its cash balance being sufficient to sustain operations and its
ability to raise capital when needed, the Company’s ability to
leverage fixed costs and achieve long-term profitability; the
Company’s ability to obtain regulatory approvals or to comply with
ongoing regulatory requirements, regulatory limitations relating to
the Company’s ability to successfully promote its services and
compete as a pure- play CDMO, and other factors described in the
Company’s annual report on Form 10-K for the year ended December
31, 2023, subsequent quarterly reports on Form 10-Qs and any other
filings the Company makes with the SEC. The information in this
presentation is provided only as of the date presented, and the
Company undertakes no obligation to update any forward-looking
statements contained in this presentation on account of new
information, future events, or otherwise, except as required by
law.
Media and Investor Relations
ContactDavid Waldman+1 919 289
4017ir@scorpiusbiologics.com
Scorpius (AMEX:SCPX)
Historical Stock Chart
Von Nov 2024 bis Dez 2024
Scorpius (AMEX:SCPX)
Historical Stock Chart
Von Dez 2023 bis Dez 2024