ADMA ADMA Biologics Inc

2.89
+0.04  (+1%)
Previous Close 2.85
Open 2.9
52 Week Low 1.45
52 Week High 5.4844
Market Cap $249,537,955
Shares 86,345,313
Float 62,842,650
Enterprise Value $243,002,996
Volume 1,679,869
Av. Daily Volume 2,940,660
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Drug Pipeline

Drug Stage Notes
ASCENIV (RI-002)
Primary Immune Deficiency Diseases
Approved
Approved
FDA Approval announced April 1, 2019.
BIVIGAM
Primary humoral immunodeficiency
CRL
CRL
Response to Complete Response Letter submitted January 7, 2019.

Latest News

  1. RAMSEY, N.J. and BOCA RATON, Fla., June 23, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced that the proposed resolution to elect Martha J. Demski to its Board of Directors was approved at the Company's recent Annual Shareholder Meeting, held June 18, 2020. 

    Ms. Demski brings over 35 years of experience in leading business growth and financial strategies for life sciences companies.  She currently serves as the Chairman of the Board of Chimerix, Inc., as well as a Board member for several life science companies including Adamas Pharmaceuticals and Equillium, Inc.

    RAMSEY, N.J. and BOCA RATON, Fla., June 23, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced that the proposed resolution to elect Martha J. Demski to its Board of Directors was approved at the Company's recent Annual Shareholder Meeting, held June 18, 2020. 

    Ms. Demski brings over 35 years of experience in leading business growth and financial strategies for life sciences companies.  She currently serves as the Chairman of the Board of Chimerix, Inc., as well as a Board member for several life science companies including Adamas Pharmaceuticals and Equillium, Inc.

    "Martha has a long track record of success serving in executive leadership roles in both finance and manufacturing, as well as on the Boards of several leading biotechnology companies," said Steven A. Elms, Chairman of the Board of ADMA Biologics. "She brings to ADMA over 35 years of experience in the biotechnology sector making her an invaluable addition to our Board.  On behalf of the Board and the entire management team, we welcome her and look forward to working with her in the years ahead."

    "With the commercializations of BIVIGAM and ASCENIV, as well as the expansion of its plasma collection facilities, ADMA is an exciting story in biotechnology and is well-positioned for substantial growth," said Ms. Demski. "I look forward to bringing my extensive experience in financial strategy and business operations to the ADMA Board and I look forward to working with the entire team as we continue to tirelessly work towards our goal of manufacturing and commercializing novel immunoglobulin products for patients at risk for infection."

    Ms. Demski was Senior Vice President and Chief Financial Officer of Ajinomoto Althea, Inc. (now known as Ajinomoto Bio-Pharma Services), a fully-integrated contract development and manufacturing organization, before retiring in May 2017. Prior to joining Althea in 2011, Ms. Demski was Interim Chief Operating Officer and Chief Financial Officer of the Sidney Kimmel Cancer Center (SKCC). Previously, she served as Vice President and Chief Financial Officer of Vical. Additionally, Ms. Demski has more than 13 years of banking experience with Bank of America. In 2017, Ms. Demski was recognized as Director of the Year in Corporate Governance by the Corporate Directors Forum. Ms. Demski earned her M.B.A. from the University of Chicago Booth School of Business with concentrations in Accounting and Finance and her B.A. from Michigan State University.

    About ADMA Biologics, Inc. (ADMA)

    ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.  ADMA currently manufactures and markets three United States Food and Drug Administration (FDA) approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA Bio Centers subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides a portion of its blood plasma for the manufacture of its products. ADMA's mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA has received U.S. Patents: 9,107,906, 9,714,283, 9,815,886, 9,969,793 and 10,259,865 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. ("we," "our" or the "Company"). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as "estimate," "project," "intend," "forecast," "target," "anticipate," "plan," "planning," "expect," "believe," "will," "is likely," "will likely," "should," "could," "would," "may," or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements also include, but are not limited to, statements about ADMA being well-positioned for substantial growth. Actual events or results may differ materially from those described in this document due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.

    COMPANY CONTACT:

    Brian Lenz

    Executive Vice President and Chief Financial Officer | 201-478-5552 | www.admabiologics.com

    INVESTOR RELATIONS CONTACT:

    Sam Martin

    Managing Director, Argot Partners | 212-600-1902 |  

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  2. RAMSEY, N.J. and BOCA RATON, Fla., May 21, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), today announced it has commenced the collection of convalescent plasma through its wholly-owned subsidiary, ADMA BioCenters Georgia Inc. ("ADMA BioCenters"), from individuals who have recovered from COVID-19. ADMA is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. 

    ADMA is seeking US citizens who have recovered from coronavirus (SARS-CoV-2) or COVID-19, to donate plasma, which can be used to produce an immune globulin to…

    RAMSEY, N.J. and BOCA RATON, Fla., May 21, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), today announced it has commenced the collection of convalescent plasma through its wholly-owned subsidiary, ADMA BioCenters Georgia Inc. ("ADMA BioCenters"), from individuals who have recovered from COVID-19. ADMA is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. 

    ADMA is seeking US citizens who have recovered from coronavirus (SARS-CoV-2) or COVID-19, to donate plasma, which can be used to produce an immune globulin to potentially help infected patients with COVID-19. People who have recovered from COVID-19 can have antibodies in their plasma that may be helpful in treating the virus. Immune globulin is a plasma-derived medicine that is comprised of polyclonal antibodies and is routinely used for the prevention and treatment of certain infectious diseases. Currently, six producers of immune globulin, including ADMA Biologics, supply products to the US market.

    "During this unprecedented time, ADMA has risen to the challenge of helping confront the growing coronavirus pandemic, while fulfilling our mission to help patients battle infectious diseases," stated Adam Grossman, President and Chief Executive Officer. "Immune globulin and hyperimmune globulin therapy have the potential to be one of the earliest and best treatment options for patients with COVID-19 infections. The key to developing an immune globulin with high antibody levels to COVID-19 is the collection of plasma from patients that have recovered from COVID-19 infection. We encourage anyone who has recovered from COVID-19 without symptoms for 14 days to come forward and donate plasma to this worthy cause."

    ADMA is a member of the CoVIg-19 Plasma Alliance, a plasma industry alliance established to accelerate the development of a plasma-derived hyperimmune globulin therapy for COVID-19. You can learn more about the CoVIg-19 Plasma Alliance here www.covig-19plasmaalliance.org.

    To find out more about donating plasma, including eligibility requirements and location, please visit www.admabiocenters.com or www.donatingplasma.org.

    About ADMA BioCenters

    ADMA BioCenters is a wholly-owned subsidiary of ADMA Biologics, which operates as a source plasma collection business. ADMA BioCenters is an FDA-licensed facility specializing in the collection of human plasma to make special medications for the treatment and prevention of diseases. A typical plasma collection center can collect between 30,000 to 50,000 liters of source plasma annually. Plasma collected from ADMA BioCenters' facility that is not used to manufacture ADMA's products or development-stage candidates is sold to customers under an existing supply agreement or in the open market, generating revenues for the Company.

    About ADMA Biologics, Inc. (ADMA)

    ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA) approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA Bio Centers subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides a portion of its blood plasma for the manufacture of its products. ADMA's mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA has received U.S. Patents: 9,107,906, 9,714,283, 9,815,886, 9,969,793 and 10,259,865 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. and its subsidiaries (collectively, "we," "our" or the "Company"). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as "estimate," "intend," "anticipate," "plan," "expect," "believe," "will," "can," "should," "could," "would," "may," or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements also include, but are not limited to, statements about manufacturing of a potential hyperimmune globulin; the use of donated plasma to produce an immune globulin to potentially help infected patients with COVID-19; the potential for antibodies from those who have recovered from COVID-19 can be helpful in treating COVID-19; the potential for immune globulin and hyperimmune globulin therapy to be one of the earliest and best treatment options for patients with COVID-19 infections; and the importance of collecting plasma from patients that have recovered from COVID-19 infection for developing an immune globulin with high antibody levels to COVID-19. Actual events or results may differ materially from those described in this document due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.

    COMPANY CONTACT:
    Brian Lenz
    Executive Vice President and Chief Financial Officer | 201-478-5552 | www.admabiologics.com

    INVESTOR RELATIONS CONTACT:
    Sam Martin
    Managing Director, Argot Partners | 212-600-1902 |

    MEDIA RELATIONS CONTACT:
    David Rosen
    Managing Director, Media, Argot Partners | 212-600-1902 |

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  3. OSAKA, Japan, and KING OF PRUSSIA, Pa., May 7, 2020 /PRNewswire/ -- The CoVIg-19 Plasma Alliance, an unprecedented plasma industry collaboration recently established to accelerate the development of a plasma-derived hyperimmune globulin therapy for COVID-19, is rapidly building momentum. Its membership has expanded globally to include 10 plasma companies, and now also includes global organizations from outside the plasma industry who are providing vital support to encourage more people to donate plasma.

    In addition to those announced at its inception - Biotest, BPL, CSL Behring, LFB, Octapharma and Takeda - the Alliance welcomes new industry members ADMA Biologics, BioPharma Plasma, GC Pharma, and Sanquin. Together, these organizations will contribute specialist advisory expertise, technical guidance and/or in-kind support to contribute to the Alliance goal of accelerating development and distribution of a potential treatment option for COVID-19.

    In parallel, the Alliance has confirmed it will work with the National Institute of Allergy and Infectious Diseases (NIAID) at the NIH to test the safety, tolerability and efficacy of the hyperimmune therapy in adult patients with COVID-19. This global study is currently anticipated to start in the summer
    and will form the foundation for the potential regulatory approval of the hyperimmune therapy.

    "Hyperimmune globulin therapy has the potential to be one of the earliest treatment options for COVID-19, and we look forward to working with NIAID and health authorities to bring this therapy to patients as early as possible," said Bill Mezzanotte, Executive Vice President, Head of R&D, CSL Behring and Co-leader of the CoVIg-19 Plasma Alliance. "One of the stated goals of the alliance is to be an effective partner for important institutions such as NIAID and also to help develop coherent regulatory strategies that can give global health authorities the confidence to streamline the approval process of hyperimmune globulin therapy for COVID-19." 

    Key to developing this potential hyperimmune globulin treatment is the collection of convalescent plasma. To amplify awareness, the Alliance has gained support from large organizations outside of the plasma industry. Examples of those offering resources to the Alliance include Microsoft and Uber Health. Microsoft is providing technology support, including the Alliance website and the Plasmabot for donor recruitment. The Plasmabot streamlines the process for a potential donor to quickly gain information about their nearest collection center from across the member network. In parallel, Uber Health has agreed to donate 25,000 round-trip rides to transport potentially eligible donors to and from plasma collection centers. These rides will be coordinated by the plasma collection center directly for individuals with confirmed appointments.

    "Partnership and collaboration are critical to the success of the CoVIg-19 program," said Julie Kim, President of Plasma-Derived Therapies Business Unit, Takeda, and co-leader of the CoVIg-19 Plasma Alliance. "We now have enough plasma to initiate clinical manufacturing, but more is needed to ensure both speed and scale. The growing and active involvement of leading companies from outside the plasma industry, who support this Alliance as well as convalescent plasma for transfusion initiatives – demonstrates the potential of convalescent plasma to fight this public health crisis. Together, we all share the same goal – to save lives by using the power of convalescent plasma in different ways."

    The success of the CoVig-19 program depends heavily right now on the support of people across the world to donate convalescent plasma. We encourage those who have recovered from COVID-19 and who are interested in contributing to our development program – or to any other – by donating their plasma to visit the website for more information.

    About ADMA Biologics, Inc. (ADMA)

    ADMA Biologics (NASDAQ:ADMA) ("ADMA"), is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.  ADMA currently manufactures and markets three United States Food and Drug Administration (FDA) approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA BioCenters subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides a portion of its blood plasma for the manufacture of its products. ADMA's mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA has received U.S. Patents: 9,107,906, 9,714,283, 9,815,886, 9,969,793 and 10,259,865 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

    About BioPharma

    Biopharma is a Ukrainian biopharmaceutical company, focused on the development and production of plasma-derived medicines. It is the only plant in Ukraine and neighboring countries that has the latest technology for manufacturing. The company was founded in 1896 and have been producing plasma-derived drugs for almost 50 years. Since 2019 Biopharma operates in a new R&D complex. The company focuses on the supply of albumins, immunoglobulins, coagulation factors to Ukraine and to over 30 countries worldwide. Also Biopharma develops national network of plasma centers.  www.biopharma.ua

    About Biotest AG
    Biotest is a provider of plasma proteins and biological drugs. The corporate offices are located in Dreieich (near Frankfurt), Germany. With a value-added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialized primarily in the areas of clinical immunology, hematology and intensive care medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. Biotest owns and operates 22 plasma donation centers across Europe in Germany, Hungary and Czech Republic. Biotest has more than 1,800 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange. For more information visit http://www.biotest.com.

    About Bio Products Laboratory (BPL)
    Recognising the power of plasma and with over 60 years heritage in the industry, BPL supplies high-quality plasma derived medicines to meet the needs of clinicians, patients and customers globally.  Headquartered in the United Kingdom and with plasma collection centres across the United States, we are dedicated to producing medicines for the treatment of immune deficiencies, bleeding disorders and infectious diseases as well for critical care.  BPL invests in the latest R&D, technology and manufacturing methods, and continuously adapts to ensure that we continue to serve all our stakeholders effectively.  For more information visit http://www.bplgroup.com.

    About CSL Behring
    CSL Behring is a global biotherapeutics leader driven by its promise to save lives. Focused on serving patients' needs by using the latest technologies, we develop and deliver innovative therapies that are used to treat coagulation disorders, primary immune deficiencies, hereditary angioedema, inherited respiratory disease, and neurological disorders. The company's products are also used in cardiac surgery, burn treatment and to prevent hemolytic disease of the newborn. CSL Behring operates one of the world's largest plasma collection networks, CSL Plasma. The parent company, CSL Limited ((ASX:CSL, OTC:CSLLY), headquartered in Melbourne, Australia, employs more than 26,000 people, and delivers its life-saving therapies to people in more than 70 countries. For more information, visit www.cslbehring.com and for inspiring stories about the promise of biotechnology, visit Vita www.cslbehring.com/Vita.

    About GC Pharma
    GC Pharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Pharma is one of the leading plasma protein product manufacturers in the world and has been dedicated to quality healthcare solutions for more than half a century. Green Cross Corporation updated its corporate brand to GC Pharma in early 2018. Green Cross Corporation remains the company's registered, legal name.

    About LFB

    LFB is a bio-pharmaceutical group that develops, manufactures and markets plasma derived products and recombinant proteins for the treatment of patients with serious and often rare diseases. LFB was founded in 1994 in France and is among the leading European bio-pharmaceutical companies providing mainly hospital-based healthcare professionals, with blood-derived therapeutics with the vision to provide treatment options to patients in three major areas: immunology, haemostasis, and intensive care. LFB currently markets 15 products in more than 30 countries. www.groupe-lfb.com

    About Octapharma

    Headquartered in Lachen, Switzerland, Octapharma is one of the largest human protein manufacturers in the world, developing and producing human proteins from human plasma and human cell lines. Octapharma employs more than 10,000 people worldwide to support the treatment of patients in 118 countries with products across three therapeutic areas: Hematology; Immunotherapy and Critical care. Octapharma has seven R&D sites and six state-of-the-art manufacturing facilities in Austria, France, Germany, Mexico and Sweden, with a combined capacity of approximately 8 mil litres of plasma per annum. In addition, Octapharma operates more than 140 plasma donation centres across Europe and the US. For more information visit: www.octapharma.com

    About Sanquin

    Sanquin is responsible for the Dutch collection of both blood and plasma and consists of the Sanquin Blood Bank and its pharmaceutical entity, Sanquin Plasma Products. Through Sanquins efforts in combating SARS-COV-2, we have collected plasma donations from convalescent patients for both research purposes and the manufacturing of an anti-COVID-19 immunoglobulin. Adding to this, our research initiatives complete a spectrum of corona-related projects: from publishing the first large scale investigation on the prevalence of COVID-19 antibodies in Dutch donors up to supporting conclusive research on the effects of transfusion of hyper-immune plasma to patients. We are proud and eager to take part in the international endeavor to make anti-COVID-19 immunoglobulin available to a broad range of people in risk groups.

    About Takeda Pharmaceutical Company Limited
    Takeda Pharmaceutical Company Limited ((TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries. For more information, visit www.takeda.com.

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/covig-19-plasma-alliance-builds-strong-momentum-through-expanded-membership-and-clinical-trial-collaboration-301054894.html

    SOURCE CSL Behring

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  4. RAMSEY, N.J. and BOCA RATON, Fla., May 07, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immuno-deficient patients at risk for infection and others at risk for certain infectious diseases, today announced several recent corporate achievements pertaining to its supply chain robustness objectives as established at the beginning of 2020.

    "We have been very active during these challenging times in executing upon what we believe to be high value-added improvements to our supply chain to enhance robustness, increase capacity and heighten control over the production…

    RAMSEY, N.J. and BOCA RATON, Fla., May 07, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immuno-deficient patients at risk for infection and others at risk for certain infectious diseases, today announced several recent corporate achievements pertaining to its supply chain robustness objectives as established at the beginning of 2020.

    "We have been very active during these challenging times in executing upon what we believe to be high value-added improvements to our supply chain to enhance robustness, increase capacity and heighten control over the production of our products.  These achievements include the successful manufacturing of three BIVIGAM® conformance batches at an increased scale of plasma volume, purchase of a new aseptic filling machine and installation, along with our plasma collection center expansion initiatives, all of which are on schedule with our budgeted expectations.  These important accomplishments are in-line with our 2020 corporate goals and are designed to enhance shareholder valued by reducing operating costs, improve margins and provide for faster turnaround time in the production cycle of our commercial immunoglobulin products," stated Adam Grossman, President and Chief Executive Officer. "We believe these additional capabilities will also allow us to provide a broader range of high-quality services, both to our existing customers, as well as potential new clients and ultimately provide increased control and independence from vendors and contractors as we grow our Company."

    The conformance batch production for BIVIGAM is at double the plasma volume of the currently U.S. Food and Drug Administration ("FDA") approved process for the manufacture of immune globulin ("IG").  There have been no significant changes to the manufacturing process, in-process controls or final release testing other than validating the effectiveness of the ADMA manufacturing process at the larger scale.  At the newly increased scale, we observed the same potency and purity of the IG production process as our FDA-approved production process.  Upon approval of this manufacturing change, ADMA anticipates it will be in a position to produce double the peak forecasted quantity of BIVIGAM using the same equipment, single-use disposables and same labor force.  

    Mr. Grossman continued, "Additionally, we completed the installation and site acceptance testing of our new in-house aseptic filling machine, a Vanrx SA25 Workcell, which utilizes a state-of-the-art closed isolator design allowing for the removal of human interventions and provides safe drug products for patients.  The combination of increased production capacity for BIVIGAM and the enhanced vertical integration of in-house filling and packaging will allow ADMA to bring our products to market faster, and substantially increase ADMA's end-to-end control over our complete manufacturing process." 

    The Vanrx SA25 Workcell has been installed by many leading biologics and vaccine producers in the U.S. and has been FDA approved numerous times.  Once installed, the SA25 Workcell will have the capability of rapidly switching between different container and closure formats enabling aseptic filling in a variety of different fill volumes and presentation sizes.

    Before the BIVIGAM production scale increase and filling machine can be fully implemented for commercial manufacturing, ADMA must submit an amendment(s) to its Biologics License Application to the FDA.  ADMA anticipates submitting applications to the FDA for the increased production scale conformance batches of BIVIGAM and the Vanrx filling machine during the second half of 2020.  Both the increased production scale and filling machine initiatives and investments are anticipated to be fully operational and contribute to product supply during 2021.

    "Lastly, we have executed on our plasma collection center buildout expansion initiatives, which are on schedule.  We have secured additional locations and have commenced construction of two facilities in Tennessee. All of these important plasma collection site expansion activities will continue for the duration of 2020 and into 2021 and we believe we should be able to submit for FDA approvals toward the end of the second half of this year.  We look forward to keeping our investors apprised of meaningful developments as we continue to execute on our 2020 stated goals and objectives." concluded Mr. Grossman. 

    About ADMA Biologics, Inc. (ADMA)

    ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.  ADMA currently manufactures and markets three United States Food and Drug Administration (FDA) approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA Bio Centers subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides a portion of its blood plasma for the manufacture of its products. ADMA's mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA has received U.S. Patents: 9,107,906, 9,714,283, 9,815,886, 9,969,793 and 10,259,865 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. ("we," "our" or the "Company"). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as "estimate," "project," "intend," "forecast," "target," "anticipate," "plan," "planning," "expect," "believe," "will," "is likely," "will likely," "should," "could," "would," "may," or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements also include, but are not limited to, statements about ADMA's future results of operations; being well-positioned to weather current macroeconomic challenges while continuing to execute on future growth plans; continuing progress regarding the commercial launches for BIVIGAM and ASCENIV; ramping production throughput for commercial products and building inventory; continued sales growth and market penetration; potential plasma product supply constraints and the timing thereof; increasing ADMA's production throughput; expansion of manufacturing capacity; reducing our operating costs, improving margins and providing for faster turnaround time in the production cycle of our commercial products; and expected annual revenues from ADMA's manufacturing and supply agreement to produce and sell plasma-derived intermediate fractions. Actual events or results may differ materially from those described in this document due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.

    COMPANY CONTACT:

    Brian Lenz

    Executive Vice President and Chief Financial Officer | 201-478-5552 | www.admabiologics.com

    INVESTOR RELATIONS CONTACT:

    Sam Martin

    Managing Director, Argot Partners | 212-600-1902 |

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  5. Achieved First Quarter 2020 Total Revenues of $10.2 Million, a 189% Increase Over First Quarter 2019

    Strengthened Balance Sheet Through Successful Completion of Underwritten Public Offering

    Management to Host Conference Call and Webcast Today at 4:30 p.m. ET

    RAMSEY, N.J. and BOCA RATON, Fla., May 06, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and for the prevention of certain infectious diseases, today reported financial results for the quarter ended March 31, 2020, ADMA's first fiscal quarter, and provided an…

    Achieved First Quarter 2020 Total Revenues of $10.2 Million, a 189% Increase Over First Quarter 2019

    Strengthened Balance Sheet Through Successful Completion of Underwritten Public Offering

    Management to Host Conference Call and Webcast Today at 4:30 p.m. ET

    RAMSEY, N.J. and BOCA RATON, Fla., May 06, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ:ADMA) ("ADMA"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and for the prevention of certain infectious diseases, today reported financial results for the quarter ended March 31, 2020, ADMA's first fiscal quarter, and provided an overview of recent progress and accomplishments.

    "During the first quarter of 2020, we invested in our supply-chain robustness strategy and continued to make progress with reinforcing and expanding our commercial infrastructure by building out our salesforce and medical affairs teams, while generating encouraging year-over-year quarterly revenue growth," said Adam Grossman, ADMA's President and Chief Executive Officer.  "I am extremely proud of the ADMA Biologics team as they have risen to the challenge of navigating the Company through the COVID-19 pandemic while continuing to provide critical immune globulin (IG) and hyperimmune globulin products that U.S. patients and physicians need.  Due to our strong foundation, we believe we are well-positioned to not only weather the current macroeconomic challenges, but to continue to execute on our future growth plans.  Most importantly, everyone at ADMA offers our immense gratitude to all of the healthcare personnel, first responders and others working on the front lines during this pandemic."

    2020 Outlook and Objectives Update

    • Commercial launches for BIVIGAM and ASCENIV continue to progress.  With in-person field opportunities reduced at medical meetings and customer sites due to "shelter-in-place" orders across the U.S., ADMA has successfully implemented virtual engagement initiatives with key opinion leaders, prescribers and other healthcare professionals to facilitate the ongoing commercial rollouts.
    • ADMA continues to ramp its production throughput for its commercial products and build inventory to support continued sales growth, market penetration and increase available market supply.  While ADMA has not experienced any significant decreases in its plasma collection operations to date, there have been reports that other plasma collection organizations are experiencing more meaningful declines as a result of the COVID-19 pandemic which could lead to potential plasma product supply constraints.  ADMA is working diligently to increase its production throughput to potentially offset a portion of any potential supply shortfall the overall IG market may experience due to the COVID-19 pandemic. 
    • Investments in support of our stated supply chain robustness initiatives remain on schedule and within budget and, most notably, the expansion of IG manufacturing capacity continues to be on track:
      º Aseptic filling machinery installed, Site Acceptance Testing completed and validation testing underway.
      º Successfully manufactured three BIVIGAM conformance batches at an increased plasma pool scale, which has the potential to increase overall plant production capacity by approximately 50% or more.
      º Expansion of plasma collection center network continues on track with the commencement of collection center build-outs and the securing of additional locations.

    Mr. Grossman continued, "These three substantial objectives and investments, including increased raw material plasma collection, expanded production capacity and aseptic filling capability, are anticipated to change the forward-looking outlook for ADMA in many positive ways, including potentially lowering costs, improving gross margins, providing more flexibility with a reduction to batch production cycle time and ultimately giving ADMA additional end-to-end control previously reserved for only the largest plasma fractionators."

    First Quarter 2020 and Recent Highlights

    • Achieved first quarter 2020 total revenues of $10.2 million, compared to $3.5 million for the first quarter of 2019, representing a 189% increase.
    • Strengthened the balance sheet through the successful completion of an underwritten public offering of ADMA's common stock resulting in net proceeds of $88.7 million to the Company, after deducting underwriting discounts and commissions and other offering expenses.
    • Strengthened the intellectual property estate protecting ASCENIV.  The Company recently received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent extension application related to its intellectual property portfolio encompassing immunoglobulin plasma pool compositions used in the manufacturing of ASCENIV.  The patent extension is expected to publish during the first half of 2020.
    • Entered into a 5-year manufacturing and supply agreement with a third-party customer to produce and sell plasma-derived intermediate fractions from ADMA's U.S. Food and Drug Administration (FDA) approved IG manufacturing process.  This agreement is expected to add $5-10 million per year in annual revenues for 2020 and 2021, and $10-20 million per year for 2022 through 2024.
    • Received BioNJ 2020 Innovator Award in recognition of the development and approval of ASCENIV, ADMA's novel, proprietary immune globulin product.

    First Quarter 2020 Financial Results

    Total revenues for the quarter ended March 31, 2020 were $10.2 million, compared to $3.5 million for the first quarter ended March 31, 2019, representing an increase of approximately $6.7 million, or 189%.  The increase is mainly due to increased sales and production throughput of our immunoglobulin products generated by our Boca Facility manufacturing operations in 2020 totaling $6.4 million, and to a $0.3 million increase in plasma revenues generated by our plasma collection facility in 2020 as compared to the same period of a year ago. Our revenues for the first quarter of 2020 as compared to the first quarter of 2019 were favorably impacted by the FDA approvals of BIVIGAM and ASCENIV on May 9, 2019 and April 1, 2019, respectively, and by the manufacturing and supply agreement we entered into in January 2020 to produce and sell intermediate fractions to a certain customer.

    Consolidated net loss for the first quarter of 2020 was $19.2 million, or $(0.26) per basic and diluted share, compared to a consolidated net loss of $13.1 million, or $(0.28) per basic and diluted share, for the first quarter of 2019.  The increase in net loss of $6.2 million was primarily due to the increase in cost of product revenue of approximately $7.4 million, which increase is mainly a result of the investment made for the production of BIVIGAM's conformance lots at an increased plasma pool production scale, which pertains specifically to our planned capacity expansion, as well as other production enhancement initiatives and supply chain investments at the Boca Facility.  The increase in net loss during the first quarter of 2020 is also attributable to higher selling, general and administrative expenses of $2.3 million, mainly due to increases in employee compensation expenses in support of our commercialization efforts, increased interest expense of $1.2 million due to our accessing additional debt during the second quarter 2019, along with higher research and development expenses of $0.7 million, primarily related to a study we commenced for ASCENIV to potentially extend its approved and labeled expiration dating, partially offset by the increase in revenues.  Included in the net loss for the first quarter of 2020 were non-cash expenses of approximately $1.9 million for stock-based compensation, depreciation and amortization, and non-cash interest expense.

    At March 31, 2020, ADMA had cash and cash equivalents of $101.2 million and accounts receivable of $7.1 million, compared to cash and cash equivalents and accounts receivable of $26.8 million and $3.5 million, respectively, at December 31, 2019.  ADMA's net working capital as of March 31, 2020 was $151.6 million, compared to $71.8 million as of December 31, 2019.

    In February 2020, ADMA completed an underwritten public offering of 27,025,000 shares of its common stock at a public offering price of $3.50 per share, resulting in net proceeds of $88.7 million.

    Conference Call Information

    ADMA will host a conference call today, Wednesday, May 6, 2020, at 4:30 p.m. Eastern Time, to discuss the first quarter 2020 financial results and recent corporate updates.  To access the conference call, please dial (855) 884-8773 (local) or (615) 622-8043 (international) at least 10 minutes prior to the start time and refer to conference ID 5339498.  A live audio webcast of the call will be available under "Events & Webcasts" in the Investor section of the Company's website, https://ir.admabiologics.com/events-webcasts.  An archived webcast will be available on the Company's website approximately two hours after the event.

    About Primary Humoral Immunodeficiency

    Primary humoral immunodeficiency (PI), also known as primary immune deficiency disease (PIDD), is a class of inherited genetic disorders that causes an individual to have a deficient or absent immune system.  According to the World Health Organization, there are approximately 350 different genetic mutations encompassing PI.  Some disorders are present at birth or in early childhood and the disorders can affect anyone regardless of age or gender.  Some affect a single part of the immune system, others may affect one or more components of the system.  PI patients are vulnerable to infections and are more likely to suffer complications from these infections compared to individuals with a normal functioning immune system.  Because patients suffering from PI lack a properly functioning immune system, they typically receive monthly treatment with polyclonal immune globulin products.  Without this exogenous antibody replacement, these patients would remain vulnerable to persistent and chronic infections.  Initially thought to be very rare, it is now estimated that the prevalence of PI in the U.S. is 1 in 1,200, which translates to approximately 250,000 people.

    About BIVIGAM®

    BIVIGAM (immune globulin intravenous, human – 10% liquid) is a plasma-derived, polyclonal, intravenous immune globulin (IVIG).  BIVIGAM was approved by the FDA in May 2019 and is indicated for the treatment of primary humoral immunodeficiency (PI), including, but not limited to the following group of genetic disorders: X-linked and congenital agammaglobulinemia, common variable immunodeficiency, Wiskott-Aldrich syndrome and severe combined immunodeficiency.  BIVIGAM contains a broad range of antibodies similar to those found in normal human plasma.  These antibodies are directed against bacteria and viruses and help to protect PI patients against serious infections.  BIVIGAM is a purified, sterile, ready-to-use preparation of concentrated human Immunoglobulin (IgG) antibodies.

    About ASCENIV™

    ASCENIV (immune globulin intravenous, human – slra 10% liquid) is a plasma-derived, polyclonal, intravenous immune globulin (IVIG).   ASCENIV was approved by the FDA on April 1, 2019 and is indicated for the treatment of primary humoral immunodeficiency (PI), also known as primary immune deficiency disease (PIDD), in adults and adolescents (12 to 17 years of age).  ASCENIV is manufactured using ADMA's unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma and plasma from donors tested using the Company's proprietary microneutralization assay.  ASCENIV contains naturally occurring polyclonal antibodies, which are proteins that are used by the body's immune system to neutralize microbes, such as bacteria and viruses and prevent against infection and disease.  ASCENIV is protected by U.S. Patents: 9,107,906, 9,714,283 and 9,815,886.

    About ADMA Biologics, Inc. (ADMA)

    ADMA Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.  ADMA currently manufactures and markets three FDA approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. ADMA manufactures its immune globulin products at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA Bio Centers subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides a portion of its blood plasma for the manufacture of its products. ADMA's mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA has received U.S. Patents: 9,107,906, 9,714,283, 9,815,886, 9,969,793 and 10,259,865 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. ("we," "our" or the "Company"). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as "estimate," "project," "intend," "forecast," "target," "anticipate," "plan," "planning," "expect," "believe," "will," "is likely," "will likely," "should," "could," "would," "may," or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements also include, but are not limited to, statements about ADMA's future results of operations; being well-positioned to weather current macromarket challenges while continuing to execute on future growth plans; continuing progress regarding the commercial launches for BIVIGAM and ASCENIV; ramping production throughput for commercial products and building inventory; continued sales growth and market penetration; potential plasma product supply constraints; increasing ADMA's production throughput; expansion of manufacturing capacity, investments related thereto, and the timing of such investments; and expected annual revenues from ADMA's manufacturing and supply agreement to produce and sell plasma-derived intermediate fractions. Actual events or results may differ materially from those described in this document due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.

    COMPANY CONTACT:

    Brian Lenz

    Executive Vice President and Chief Financial Officer | 201-478-5552 | www.admabiologics.com

    INVESTOR RELATIONS CONTACT:

    Sam Martin

    Managing Director, Argot Partners | 212-600-1902 |

    ADMA BIOLOGICS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS

      Three Months Ended March 31, 
      2020
      2019
                 
    REVENUES:            
    Product revenue $   10,164,036     $   3,492,881  
    License revenue     35,708         35,708  
    Total Revenues     10,199,744         3,528,589  
           
    OPERATING EXPENSES:      
    Cost of product revenue (exclusive of amortization expense shown below)     16,829,226         9,405,179  
    Research and development     1,528,738         870,635  
    Plasma center operating expenses     500,644         654,486  
    Amortization of intangible assets     178,838         211,235  
    Selling, general and administrative     7,932,084         5,595,470  
    Total operating expenses     26,969,530         16,737,005  
           
    LOSS FROM OPERATIONS     (16,769,786 )       (13,208,416 )
           
    OTHER INCOME (EXPENSE):      
    Interest and other income     248,068         127,399  
    Interest expense     (2,717,091 )       (1,540,507 )
    Loss on extinguishment of debt     -         (9,962,495 )
    Gain on transfer of plasma center assets     -         11,527,421  
    Other expense, net     (6,421 )       (11,357 )
    Other (expense) income, net     (2,475,444 )       140,461  
           
    NET LOSS $   (19,245,230 )   $   (13,067,955 )
           
    BASIC AND DILUTED LOSS PER COMMON SHARE $   (0.26 )   $   (0.28 )
               
    WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:          
    Basic and Diluted   73,781,507     46,353,068  
               

    ADMA BIOLOGICS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS

      March 31,   December 31,
        2020       2019  
    ASSETS (Unaudited)    
    Current assets:      
    Cash and cash equivalents $   101,235,699     $   26,752,135  
    Accounts receivable, net     7,107,834         3,469,919  
    Inventories     52,288,803         53,064,734  
    Prepaid expenses and other current assets     4,855,344         2,533,593  
    Total current assets     165,487,680         85,820,381  
    Property and equipment, net     35,060,795         31,741,317  
    Intangible assets, net     2,980,636         3,159,474  
    Goodwill     3,529,509         3,529,509  
    Deposits and other assets     3,465,207         2,840,044  
    TOTAL ASSETS $   210,523,827     $   127,090,725  
           
    LIABILITIES AND STOCKHOLDERS' EQUITY      
    Current liabilities:      
    Accounts payable $   9,152,239     $   9,174,591  
    Accrued expenses and other current liabilities     4,419,043         4,481,395  
    Current portion of deferred revenue     142,834         142,834  
    Current portion of lease obligations     193,987         229,073  
    Total current liabilities     13,908,103         14,027,893  
    Senior notes payable, net of discount     81,212,090         68,291,163  
    Deferred revenue, net of current portion     2,225,823         2,261,532  
    Subordinated note payable, net of discount     14,916,837         14,908,053  
    Lease obligations, net of current portion     1,831,639         1,302,361  
    Other non-current liabilities     93,652         106,574  
    TOTAL LIABILITIES     114,188,144         100,897,576  
           
    COMMITMENTS AND CONTINGENCIES      
           
    STOCKHOLDERS' EQUITY      
    Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding     -         -  
    Common Stock - voting, $0.0001 par value, 150,000,000 shares authorized, 86,345,313 and 59,318,355 shares issued and outstanding     8,635         5,932  
    Additional paid-in capital     380,288,833         290,903,772  
    Accumulated deficit     (283,961,785 )       (264,716,555 )
    TOTAL STOCKHOLDERS' EQUITY     96,335,683         26,193,149  
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $   210,523,827     $   127,090,725  

     

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