Why Phibro Shares Are Trading Higher Today?

Phibro Animal Health Corp PAHC and Dyadic International Inc 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.