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Elusys divestiture and R&D cuts expected to eliminate $40 million in commitments and reduce operating expenses by more than $13 million.
December 12, 2023
By: Anthony Vecchione
NightHawk Biosciences is making a strategic shift into a pure play biomanufacturing contract development and manufacturing organization (CDMO), divesting certain non-core assets to focus on growing sales within its Scorpius BioManufacturing subsidiary. Scorpius’ first full year of operation is expected to generate more than $20 million in revenue, a substantial portion of which will be recognized in 2024. To facilitate this strategic shift, the company has divested its Elusys subsidiary and r...
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