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 that it expects preliminary, unaudited
revenue for the fourth quarter ended December 31, 2022 to be
approximately $49-50 million, an increase of approximately 89% over
the fourth quarter of 2021, and full year 2022 preliminary,
unaudited revenue of approximately $153-$154 million, an increase
of approximately 90% over full year 2021.
“ADMA has successfully demonstrated its position
as the fastest growing provider of immunoglobulin in the US
market,” said Adam Grossman, President and Chief Executive Officer
of ADMA. “Enabled by the milestone achievements across our
organization, we believe we have a clear line of sight to durable
revenue growth as well as rapidly approaching profitability. With
the investment phase of ADMA’s business cycle concluding and the
business’ foundation solidly established, we have gained confidence
in the Company’s pathway to achieve positive EBITDA during the
second half of 2023 as well as our conviction in the ultimate
revenue and profitability potential ADMA’s asset base is expected
to generate thereafter. In 2023, building on the established
momentum, our organization is unified and unwavering in our focus
on delivering on all strategic and financial objectives.”
2023 Outlook
ADMA currently anticipates full year 2023 total
revenues of $210 million or more. This outlook is based on our
expectations that the U.S. immune globulin market will continue to
grow and there will be further share gains for ADMA’s commercial
products within this end-market landscape. A favorably evolving
product mix coupled with the realization of supply chain and
manufacturing efficiencies are anticipated to drive further margin
improvements throughout the year. As a result, ADMA anticipates
generating first-time positive EBITDA during the second half of
2023.
During 2023, ADMA expects to complete the
buildout and open its tenth plasma collection center and obtain
United States Food and Drug Administration licensure for three
additional plasma collection centers.
Longer term, the Company comprehensively
reiterates all previously provided financial targets; however, ADMA
notes current business trends are tracking at the upper bound of
Company expectations.
ADMA plans to provide further details related to
its 2023 financial expectations on the fourth quarter and full year
2022 earnings call.
Fourth Quarter and Full Year 2022
Financial Results Conference Call
ADMA plans to host a conference call and webcast
to discuss its fourth quarter and full year 2022 financial results
during the first quarter of 2023 in conjunction with filing its
Annual Report on Form 10-K with the U.S. Securities and Exchange
Commission.
The financial information included in this press
release is preliminary, unaudited and subject to adjustment. It
does not present all information necessary for an understanding of
the Company’s fourth quarter and full year financial results for
2022.
About ADMA Biologics,
Inc.
ADMA Biologics is an end-to-end American
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.
Forward-Looking Statements
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements are
identified by use of the words “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “forecasts,” “targets,” “plans,”
“predicts,” “projects,” “should,” “will” or, in each case, their
negative, or words or expressions of similar meaning. These
forward-looking statements include, but are not limited to,
statements about ADMA’s fourth quarter and full year 2022 revenues
or future results of operations (including, but not limited to 2023
revenues and the timing for achieving positive EBITDA and
profitability) and the assumptions in connection therewith; the
ability to complete the buildout of ADMA’s tenth plasma collection
center and obtain FDA approval of its currently unlicensed plasma
collection centers, and the associated timing in connection
therewith; the timing related to the fourth quarter and full year
2022 financial results conference call; and the filing timing of
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022. Actual events or results may differ materially
from those described in this press release due to a number of
important factors. Current and prospective security holders are
cautioned that there also can be no assurance that the
forward-looking statements included in this press release will
prove to be accurate. Except to the extent required by applicable
laws or rules, ADMA does not undertake any obligation to update any
forward-looking statements or to announce revisions to any of the
forward-looking statements. Forward-looking statements are subject
to many risks, uncertainties and other factors that could cause our
actual results, and the timing of certain events, to differ
materially from any future results expressed or implied by the
forward-looking statements, including, but not limited to, the
risks and uncertainties described in our filings with the U.S.
Securities and Exchange Commission, including our most recent
reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.
COMPANY CONTACT:Skyler
BloomSenior Director, Corporate Strategy and Business Development |
201-478-5552 | sbloom@admabio.com
INVESTOR RELATIONS
CONTACT:Michelle PappanastosSenior Managing Director,
Argot Partners | 212-600-1902 | michelle@argotpartners.com
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