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ADMA Biologics Announces Preliminary Fourth Quarter and Full Year 2019 Revenues and Provides 2020 Strategic Outlook
Achieved Fourth Quarter 2019 Preliminary Unaudited Total Revenues of $11.9 Million, a 193% Increase Over Fourth Quarter 2018 Full Year 2019 Preliminary
About this update from Adma Biologics Inc
[{"type":"text","content":"Achieved Fourth Quarter 2019 Preliminary Unaudited Total Revenues of $11.9 Million, a 193% Increase Over Fourth Quarter 2018\n Full Year 2019 Preliminary Unaudited Total Revenues of $29.2 Million, a 72% Increase Over Full Year 2018 ADMA to Host Conference Call and Webcast in the First Quarter of 2020 to Report Fourth Quarter and Full Year 2019 Financial Results RAMSEY, N.J. and BOCA RATON, Fla., Jan. 09, 2020 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (NASDAQ: 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 announced its preliminary unaudited fourth quarter and full year 2019 revenues. The Company also provided updates on the commercial launches of its marketed intravenous immunoglobulin (IVIG) products, BIVIGAM® and ASCENIV™, as well as introduced its 2020 strategic outlook. Fourth Quarter and Full Year 2019 Highlights Achieved fourth quarter 2019 preliminary unaudited total revenues of $11.9 million, compared to $4.1 million during the fourth quarter of 2018, reflecting a 193% increase over fourth quarter 2018Full year 2019 preliminary unaudited total revenues of $29.2 million, compared to $17.0 million for the full year 2018, reflecting a 72% increase over full year 2018Commercial launches for BIVIGAM and ASCENIV progressing in line with expectations. The Company continues to ramp commercial production of these two products and build inventory to support continued growth and market supply. “We are extremely pleased with our preliminary fourth quarter and full year 2019 revenue results, which are primarily attributable to the commercial rollouts of BIVIGAM and ASCENIV, as well as our first sale of intermediate fractions related to our IVIG production process, and we look forward to continuing the upward production ramp throughout the coming year,” said Adam Grossman, ADMA’s President and Chief Executive Officer. “ADMA made significant progress and achieved a number of milestones over the past year and we believe we are entering 2020 well positioned to execute on several strategic priorities aimed at growing our overall revenues. These strategic priorities include expanding throughput capacity at our manufa...