Business
ADMA Biologics Reports Fourth Quarter and Full Year 2019 Financial Results and Highlights Recent Company Progress
Achieved Fourth Quarter 2019 Total Revenues of $12.0 Million, a 197% Increase Over Fourth Quarter 2018 Achieved Full Year 2019 Total Revenues of $29.3
About this update from Adma Biologics Inc
[{"type":"text","content":" Achieved Fourth Quarter 2019 Total Revenues of $12.0 Million, a 197% Increase Over Fourth Quarter 2018\n Achieved Full Year 2019 Total Revenues of $29.3 Million, a 73% Increase Over Full Year 2018 Strengthened Balance Sheet Through Successful Completion of Underwritten Public Offering Resulting in Gross Proceeds of $94.6 Million Management to Host Conference Call and Webcast Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., March 12, 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 fourth quarter and full year ended December 31, 2019 and provided an overview of recent progress and accomplishments. “In 2019, ADMA embarked on the commercial rollout of BIVIGAM® and ASCENIV™, our two lead intravenous immune globulin (IVIG) products for the treatment of patients with primary humoral immunodeficiency,” said Adam Grossman, ADMA’s President and Chief Executive Officer. “We are pleased with the commercial launch thus far and we look forward to continuing an upward production ramp throughout 2020. On the financial front, we recently strengthened our balance sheet and enhanced our working capital position by securing gross proceeds of $94.6 million in an underwritten public offering of our common stock. Collectively, we believe all of these achievements leave us well positioned for continued growth in 2020 and beyond.” 2019 and Recent Highlights Achieved fourth quarter 2019 total revenues of $12.0 million, compared to $4.1 million for the fourth quarter of 2018, representing a 197% increase. Achieved full year 2019 total revenues of $29.3 million, compared to $17.0 million for the full year 2018, representing a 73% increase.Commercial launches for BIVIGAM and ASCENIV are progressing in line with management’s expectations. ADMA continues to ramp commercial production of these two products and build inventory to support continued growth and market supply. Strengthened the balance sheet through the successful completion of an underwritten public offering of ADMA’s common stock resulting in gross proceeds of $94.6 mi...