Welcome to our dedicated page for Adma Biologics news (Ticker: ADMA), a resource for investors and traders seeking the latest updates and insights on Adma Biologics stock.
ADMA Biologics Inc. (ADMA) is a commercial-stage biopharmaceutical company advancing plasma-derived therapies for immune deficiencies and infectious diseases. This dedicated news hub provides verified updates on corporate developments, regulatory milestones, and clinical progress.
Investors and healthcare professionals will discover timely coverage of earnings announcements, FDA decisions, manufacturing innovations, and strategic partnerships. Our curated selection emphasizes ADMA’s operational achievements in plasma collection, biomanufacturing excellence, and therapeutic pipeline advancements.
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ADMA Biologics reported a 90% year-over-year revenue growth in the fourth quarter of 2022, totaling $50 million. This growth primarily stems from increased sales of their intravenous immune globulin products. The company achieved a gross profit of $14 million, reflecting a dramatic improvement from $3.5 million in the same quarter last year.
For 2023, ADMA anticipates revenues exceeding $210 million and aims for its first positive EBITDA by the second half of the year. The company has identified new growth opportunities and plans to expand ASCENIV production capacity, which should enhance margins significantly.
ADMA Biologics will report its fourth quarter and full year 2022 financial results on March 23, 2023, after market close. A live conference call will begin at 4:30 p.m. ET to discuss these results and other updates. The call can be accessed through registration for dial-in details, or via a live audio webcast on the company’s investor website. ADMA specializes in manufacturing and marketing FDA-approved plasma-derived biologics aimed at treating immunodeficient patients. The company operates its manufacturing plant in Boca Raton, Florida, and has several U.S. patents related to its products.
ADMA Biologics has secured FDA approval for its eighth plasma collection facility located in Hammond, Louisiana, supporting its goal of plasma supply self-sufficiency and ongoing revenue growth. This facility, operational since Q2 2022, can now legally collect human source plasma for plasma-derived biologics. The company aims to have all ten centers FDA-licensed by year-end 2023, further enhancing productivity and profitability. The state-of-the-art center features advanced technology and aims to employ 50 healthcare workers at full capacity.
ADMA Biologics has reported preliminary unaudited total revenues for Q4 2022 of approximately $49-$50 million, marking an 89% year-over-year increase. Full-year revenues for 2022 are estimated at $153-$154 million, a growth of 90% compared to 2021. For 2023, the company expects revenues to exceed $210 million, reflecting a projected growth rate of about 40%. Notably, ADMA anticipates achieving positive EBITDA for the first time in the second half of 2023, supported by an expanding product line and operational efficiencies.
ADMA Biologics received FDA approval for room temperature storage of its products ASCENIV and BIVIGAM for up to 4 weeks during the first 24 months of their 36-month shelf life. This approval enhances product accessibility for healthcare providers by alleviating supply chain constraints related to refrigeration. The room temperature storage capability is effective immediately, making these products commercially available to U.S. healthcare providers, thus improving inventory management and ease of administration.
ADMA Biologics, Inc. (Nasdaq:ADMA) has successfully closed its underwritten public offering, selling 20,979,020 shares at $2.86 per share, raising $69 million in total gross proceeds, including $9 million from an overallotment option. The funds will be allocated towards accelerating commercialization, completing plasma center buildouts, and FDA approvals, alongside general corporate purposes. Raymond James, Cantor Fitzgerald, and Mizuho acted as joint book-running managers. The offering was made under a previously filed 'shelf' registration statement.
