Business
ADMA Biologics Reports Third Quarter 2020 Financial Results and Business Highlights
Generated Total Revenues of $28.3 Million for the First Nine Months of 2020, Reflecting a 63% Increase Over the Same Prior Year Period Successfully Opened
About this update from Adma Biologics Inc
[{"type":"text","content":"Generated Total Revenues of $28.3 Million for the First Nine Months of 2020, Reflecting a 63% Increase Over the Same Prior Year Period\n Successfully Opened Newest ADMA BioCenters Plasma Collection Facility; On Track to Achieve Stated Goal of Opening Five to 10 New Collection Centers Over the Next Three to Five Years Management to Host Conference Call and Webcast Today at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., Nov. 05, 2020 (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 reported financial results for its fiscal third quarter and nine months ended September 30, 2020, and provided an overview of recent progress and accomplishments. “On the commercial front, demand for immune globulins and our marketed products remained robust with our product portfolio generating sales of $28.3 million year-to-date (‘YTD’) in 2020, an increase of 63% compared to the same period in 2019. The third quarter was our strongest quarter of the year, even in the face of continued COVID-19 operating headwinds, as we generated $10.3 million in revenue, representing quarterly year-over-year growth of 42%,” said Adam Grossman, President and Chief Executive Officer of ADMA. “We continue to build our inventory balance in support of anticipated revenue growth in the fourth quarter and into 2021. Our supply chain robustness initiatives continue as planned and the expansion of our Company-owned plasma collection center network is ahead of schedule. We now have six centers under our corporate umbrella at various stages of approval and development, including two that are fully operational and collecting plasma. We are confident in our continued ability to successfully navigate the Company against the backdrop of COVID-19, and anticipate a strong fourth quarter and ultimately achieving considerable growth in the second half of 2020 versus the first half.” Third Quarter 2020 and Recent Highlights Expansion of ADMA BioCenters Plasma Collection Center Network Ahead of Schedule – ADMA BioCenters, a wholly-owned subsidiary of ADMA Biologics, successfully opened, began donor collections and submitted a Biologics License Application to the U.S. Food and Drug Administration (“FDA”) seeki...