Risks for EMERGENT BIOSOLUTIONS INC (EBS)

Here are some interesting risks from the recent filings of EMERGENT BIOSOLUTIONS INC. Our algorithms work hard to highlight risks unique to this company.

You should carefully consider the following risk factors in addition to the other information in this Annual Report on Form 10-K when evaluating our business because these risk factors may have a significant impact on our business, financial condition, operating results or cash flows.

If any of the risks described below or in subsequent reports we file with the SEC actually occur, they may materially harm our business, financial condition, operating results or cash flows. Additional risks and uncertainties that we have not yet identified or that we presently consider to be immaterial may also materially harm our business, financial condition, operating results or cash flows. The discussion of these factors is incorporated by reference into and considered an integral part of Part II, Item 7, "Management's Discussion and Analysis of Financial Conditions and Results of Operations."

We currently derive a substantial portion of our revenue from sales of BioThrax to our principal customer, the U.S. government. If the U.S. government's demand for and/or funding for procurement of BioThrax is substantially reduced, our

business, financial condition, operating results and cash flow would be materially harmed.

business, financial condition, operating results and cash flows to suffer materially.