Looks like a double pointed top forming I think is a bearish sign
Look at the weekly and monthly charts for the trend
ADMA Biologics receives FDA approval for its eighth plasma collection center, located in Hammond, LA
This plasma collection facility commenced operations and initiated source plasma collection in the second quarter of 2022. With the FDA approval announced today, this facility is now licensed to collect, and introduce into interstate commerce, human source plasma for further manufacturing in the U.S.
ADMA Biologics Announces Closing of $69 Million Public Offering Including Full Exercise of Underwriters Option to Purchase Additional Shares
ADMA Biologics Announces Closing of $69 Million Public Offering Including Full Exercise of Underwriters' Option to Purchase Additional Shares
RAMSEY, N.J. and BOCA RATON, Fla., Dec. 09, 2022 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq:ADMA) ("ADMA" or the "Company"), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced the closing of its previously announced underwritten public offering of 20,979,020 shares of its common stock at a public offering price of $2.86 per share, in addition to the exercise in full of the underwriters' option to purchase an additional 3,146,853 shares of common stock. The gross proceeds from the exercise of the overallotment option were $9 million, bringing the total gross proceeds to ADMA from the offering to $69 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
ADMA intends to use the net proceeds from this offering to accelerate commercialization and production activities, complete plasma center buildout and obtain FDA approvals, to conclude post FDA marketing approval research and development projects, and for working capital, capital expenditures and for general corporate purposes.
Raymond James & Associates, Inc., Cantor Fitzgerald & Co. and Mizuho Securities USA LLC acted as joint book-running managers of the offering.
The offering of the securities described above was made by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-256643) previously filed with the Securities and Exchange Commission ("SEC") and declared effective by the SEC on August 3, 2021. The final prospectus supplement, including the accompanying prospectus, relating to the offering was filed with the SEC on December 7, 2022 and is available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or e-mail at email@example.com, or from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022 or by email at firstname.lastname@example.org, or from Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, by email at US-ECM@us.mizuho-sc.com, or by telephone at (212) 205-7600.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
Adma Biologics Inc
Day Range: 2.09 - 2.48
Last Trade Time: 6:54:24 PM EDT
Total Trades: 20,870
ADMA Biologics Announces Second Quarter 2022 Financial Results and Provides Business Update
August 10 2022 - 04:05PM
Share On Facebook
ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing, and developing specialty plasma-derived biologics, today announced its second quarter 2022 financial results and provided a business update.
“The second quarter of 2022 was another banner period of execution for ADMA Biologics, with total revenue growth of 90% year-over-year, significantly improved gross margins quarter-over-quarter, and meaningfully narrowed net losses compared to prior periods. We believe this significant revenue growth coupled with disciplined expense management establish a strong foundation for the Company to accelerate towards profitability,” said Adam Grossman, President and Chief Executive Officer of ADMA.
“We are particularly pleased with the utilization and growth of our higher margin immune globulin product, ASCENIV™. Drawing from the robust underlying product demand trends, we expect that the product and margin mix will continue to favorably evolve over the coming periods. In this context, we anticipate the Company’s pathway to profitability will become increasingly visible as the year progresses and our anticipated margin expansion continues to unfold. We believe we are well-positioned to deliver 2022 total revenues exceeding $130 million, driven by both Intravenous Immunoglobulin (“IVIG”) end-market growth as well as anticipated share gains for our product portfolio. Additionally, our strategic alternatives process remains a top corporate priority and is ongoing. We will update the market as developments materialize.”
“The investments made in the Boca Raton production facility, as well as our end-to-end supply chain, have enabled ADMA to successfully navigate historically challenging macroeconomic conditions,” said Brian Lenz, ADMA’s Chief Financial Officer, and General Manager, ADMA BioCenters. “We are encouraged by the continued operational efficiencies being unlocked and look forward to expanding on these trends as we accelerate towards profitability. The Company remains well-capitalized, holding approximately $52 million in cash and cash equivalents at the end of the second quarter, while having access to an additional $25 million in non-dilutive funds from the Hayfin credit facility.”
Second Quarter 2022 and Recent Achievements:
Significant Revenue Growth: Achieved second quarter 2022 total revenues of $33.9 million, as compared to $17.8 million during the second quarter of 2021, an increase of $16.1 million, or approximately 90%. Due to a favorable product mix, as the Company continues to expand its customer base for both BIVIGAM® and ASCENIV, ADMA realized a gross margin of approximately 23% during the second quarter of 2022, resulting from sales of higher margin products and continued supply chain operating efficiencies.
Durable Mix Shift Toward Higher Margin Products: ADMA is particularly encouraged with the continued physician adoption and utilization of its proprietary IVIG product, ASCENIV. We believe that leading product demand indicators continue to support durable and sustained upside for this product, with possible upside to peak potential.
Advancing Toward Profitability: The Company maintains and reiterates its previously provided profitability timeline, which is expected no later than the first quarter of 2024, while taking into account current macroeconomic uncertainties. However, should current demand trends and margin dynamics sustain, accelerated profitability timelines may be achievable.
On-Track BioCenters Expansion: At present, the Company’s BioCenters segment has ten plasma collection centers under its corporate umbrella: six centers are United States Food and Drug Administration (“FDA”)-licensed, two additional centers are operational and collecting plasma, and two centers are in various stages of construction. The Company remains on track to have ten BioCenter locations FDA-licensed by year-end 2023 and, in the same period, forecasts raw material plasma supply self-sufficiency. ADMA anticipates its strong plasma supply position will support its upwardly revised production and revenue forecasts.
Expanded Patent Estate: In May 2022, the United States Patent and Trademark Office issued U.S. Pat. No. 11,339,206 (the “‘206 Patent”). The ‘206 Patent relates to methods of treating respiratory infections and expands ADMA’s estate of patents encompassing its proprietary immunotherapeutic compositions. In particular, the ‘206 Patent encompasses use of standardized, hyperimmune globulin for treating respiratory infections including those caused by respiratory syncytial virus (“RSV”), coronavirus, influenza virus, parainfluenza virus, and metapneumovirus.
Ongoing Strategic Review: ADMA continues to evaluate a variety of strategic alternatives through its ongoing engagement with Morgan Stanley. The Company will communicate material developments as required by the U.S. Securities and Exchange Commission (“SEC”). The exploration of strategic opportunities remains a top corporate priority for ADMA.
2022 & Long-Term Financial Guidance:
2022 Financial Guidance: Enabled by the strong start to the year, ADMA anticipates total 2022 revenues will exceed $130 million. ADMA reiterates expectations for continued gross profit expansion and narrowing net losses as 2022 progresses.
2024-2025 Financial Guidance: The Company continues to anticipate generating approximately $250 million or more in topline revenue in 2024, and approximately $300 million or more thereafter. At these revenue levels, and based upon current assumptions, ADMA continues to forecast achieving corporate gross margins in the range of 40-50% and net income margins in the range of 20-30%. These assumptions translate to potential annual gross profit and net income in the range of $100-150 million and $50-100 million, respectively, during the 2024-2025 time period and beyond.
Second Quarter 2022 Financial Results:
Total revenues for the second quarter ended June 30, 2022 were $33.9 million, as compared to $17.8 million during the second quarter of 2021, an increase of $16.1 million, or approximately 90%. The revenue growth for the second quarter of 2022, compared to the second quarter of 2021, was favorably impacted by the continued commercial ramp-up of the Company’s IVIG product portfolio and expanding the customer base for BIVIGAM and ASCENIV.
Gross profit for the second quarter of 2022 was $7.8 million, compared to a gross loss of $1.0 million for the second quarter of 2021. Gross profit growth during the second quarter was driven by a favorable contribution from higher margin products, notably ASCENIV.
Consolidated net loss for the quarter ended June 30, 2022 was $13.8 million, or $(0.07) per basic and diluted share, compared to a consolidated net loss of $18.9 million, or $(0.15) per basic and diluted share, for the quarter ended June 30, 2021. Net loss decreased by approximately $5.1 million, primarily attributed to higher gross margins of $8.8 million offset by a $1.3 million increase in interest expense as a result of additional debt principal as well as rising interest rates. Additional offsets during the quarter included increased plasma center operating expenses of $1.1 million attributed to having eight plasma centers in operation compared to four operating centers during the period last year, as well as increased general and administrative expenses of $1.5 million resulting in increased headcount, commercialization, and marketing expenditures.
As of June 30, 2022, ADMA had working capital of $194.7 million, primarily consisting of $146.1 million of inventory, cash, and cash equivalents of $52.4 million and net accounts receivable of $18.9 million, partially offset by an aggregate of $27.3 million of accounts payable and accrued expenses, as compared to working capital of $153.2 million as of June 30, 2021.
Conference Call Information
To access the conference call on August 10, 2022 at 4:30 PM ET, participants may register for the call here to receive the dial-in numbers and unique PIN to access the call seamlessly. It is recommended that you join 10 minutes prior to the event starting (although you may register and dial in at any time during the call). 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.
ASCENIV (immune globulin intravenous, human – slra 10% liquid) is a plasma-derived, polyclonal, intravenous immune globulin (IVIG). ASCENIV was approved by the FDA in April 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 respiratory syncytial virus (RSV) plasma obtained 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. Certain data and other information about ASCENIV™ or ADMA Biologics and its products can be found on the Company’s website at www.admabiologics.com.
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 antibodies. Certain data and other information about BIVIGAM® or ADMA Biologics and its products can be found on the Company’s website at www.admabiologics.com.
About ADMA BioCenters
ADMA BioCenters operates FDA-licensed facilities specializing in the collection of human plasma used to make special medications for the treatment and prevention of diseases. Managed by a team of experts who have decades of experience in the specialized field of plasma collection, ADMA BioCenters provides a safe, professional, and pleasant donation environment. ADMA BioCenters strictly follows FDA regulations and guidance and enforces cGMP (current good manufacturing practices) in all of its facilities. For more information about ADMA BioCenters, please visit www.admabiocenters.com.
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: BIVIGAM® (immune globulin intravenous, human) for the treatment of primary humoral immunodeficiency (PI); ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) 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 and European Patent No. 3375789, among others, related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.
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, “our”, “ADMA” 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 “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “plans,” “predicts,” “projects,” “should,” “targets,” “will,” “would,” 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 and pro forma results; the success of ASCENIV™ in future periods, and market share of the Company’s product portfolio; the timeline associated with profitability; the ability to obtain FDA approval of its plasma collection centers and the associated timing
ADMA Announces Live Poster Presentation and Symposium on Real-World Experience with ASCENIV™ at CIS 2022 • GlobeNewswire Inc. • 04/01/2022 11:00:00 AM
Statement of Changes in Beneficial Ownership (4) • Edgar (US Regulatory) • 03/25/2022 09:17:17 PM
Statement of Changes in Beneficial Ownership (4) • Edgar (US Regulatory) • 03/25/2022 09:16:31 PM
Current Report Filing (8-k) • Edgar (US Regulatory) • 03/25/2022 08:31:38 PM
......and yes people are beginning to notice.......buyout#s are now between 8.30 and 16.20...........sounds to me like another high rise on the beach with a new jag in the garage ...................holding 50 plus and looking at more......could be a BINGO
YES Adma Biologics Inc (ADMA)
1.39 ? 0.02 (1.46%)
Volume: 2,845,898 @01/19/22 7:46:38 PM EST
Bid Ask Day's Range
1.39 1.45 1.4 - 1.525
ADMA Detailed Quote
..........ready to make some money
I AGREE Adma Biologics Inc (ADMA)
1.41 ? 0.09 (6.82%)
Volume: 2,554,670 @12/31/21 6:17:12 PM EST
Bid Ask Day's Range
1.35 1.41 1.31 - 1.42
ADMA Detailed Quote
yes , 12-31-2021 trading
Adma Biologics Inc (ADMA)
1.3977 ? 0.0777 (5.89%)
Volume: 1,480,312 @12/31/21 12:49:07 PM EST
Bid Ask Day's Range
1.39 1.4 1.31 - 1.42
ADMA Detailed Quote
Today, the FDA updated the emergency use authorization (EUA) for COVID-19 convalescent plasma. The update limits the authorization to the use of COVID-19 convalescent plasma with high titers of anti -SARS-CoV-2 antibodies for the treatment of COVID-19 in patients with immunosuppressive disease or who are receiving immunosuppressive treatment. These patients may be treated in outpatient or inpatient settings. Additionally, to help assure the manufacture of high titer COVID-19 convalescent plasma, the revisions to the EUA revise acceptable tests and increase qualifying result cutoffs to be used for manufacturing COVID-19 convalescent plasma with high titers of anti-SARS-CoV-2 antibodies.