Business
ADMA Biologics Reports First Quarter 2020 Financial Results and Highlights Recent Company Progress
Achieved First Quarter 2020 Total Revenues of $10.2 Million, a 189% Increase Over First Quarter 2019 Strengthened Balance Sheet Through Successful Completion
About this update from Adma Biologics Inc
[{"type":"text","content":"Achieved First Quarter 2020 Total Revenues of $10.2 Million, a 189% Increase Over First Quarter 2019\n 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 penetratio...