ADMA BIOLOGICS, INC.
ADMA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ADMA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ADMA
ADMA Biologics is a vertically integrated plasma-derived biologics company focused on manufacturing and commercializing immunoglobulin products for immune-compromised patients, with a growing commercial portfolio and an expanding manufacturing footprint.
Key risk: Accumulated deficit
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 6 clinical trials · 1 catalyst for ADMA BIOLOGICS, INC..
ADMA Biologics is a vertically integrated plasma-derived biologics company focused on manufacturing and commercializing immunoglobulin products for immune-compromised patients, with a growing commercial portfolio and an expanding manufacturing footprint.
- Reported record full-year 2025 revenue of $510 million, a 20% increase over the prior year [sec · filed 2026-04-15].
- Received FDA approval for a yield enhancement production process that increases yields by approximately 20% from the same starting plasma volume; yield-enhanced production transitioned to routine commercial execution in 2025 [sec · filed 2026-04-15].
- Cash and cash equivalents were $136.0 million as of June 30, 2026 [sec_mda · as of 2026-08-05].
- Working capital was $452.4 million as of June 30, 2026, with inventory of $239.3 million and accounts receivable of $138.2 million [sec_mda · as of 2026-08-05].
- Acquired real estate in Boca Raton, FL in July 2025 for $12.6 million to expand production capacity and add cold storage, warehousing, and inventory management capabilities [sec · filed 2026-04-15].
What works
- Record revenue growth: Full-year 2025 revenue reached $510 million, a 20% year-over-year increase, indicating strong commercial execution [sec · filed 2026-04-15].
- FDA-approved yield enhancement: The innovative production process increases yields by ~20% from the same plasma volume, supporting gross margin expansion as 2026 is the first full year of output [sec · filed 2026-04-15].
- Vertically integrated supply chain: The Boca Raton campus expansion and ADMAlytics AI program aim to improve operational efficiencies and provide up to 30% future cGMP capacity expansion [sec · filed 2026-04-15].
- Strong liquidity: Working capital of $452.4 million as of June 30, 2026, with $136.0 million in cash, provides financial flexibility for ongoing operations and growth investments [sec_mda · as of 2026-08-05].
What to weigh
- Accumulated deficit: The company had an accumulated deficit of $161.8 million as of December 31, 2025, reflecting historical losses [sec_mda · as of 2026-02-25].
- Debt burden: Total debt stood at $200.3 million as of June 30, 2026, which may constrain financial flexibility [latest reported financials].
- Dependence on FDA approvals: The yield enhancement process and any future product candidates require ongoing FDA regulatory oversight and lot releases, posing regulatory risk [sec · filed 2026-04-15].
- Concentration in plasma-derived products: Revenue is heavily reliant on immunoglobulin products and intermediates, making the company vulnerable to plasma supply disruptions or pricing changes [sec_mda · as of 2024-05-09].
From the filings
Quoted directly from source documents.
Record full-year 2025 revenue of $510 million, a 20% increase over the prior year.
“Reported record revenue of $510 million for the full year, which represented a 20% increase over the prior year.”
SEC filings · April 15, 2026
FDA approval for yield enhancement production process that increases yields by approximately 20%.
“Received approval of our Prior Approval Supplement for our innovative yield enhancement production process from the U.S. Food and Drug Administration (the "FDA"), which has demonstrated an ability to increase production yields by approximately 20% from the same starting plasma volume.”
SEC filings · April 15, 2026
Cash and cash equivalents of $136.0 million as of June 30, 2026.
“cash and cash equivalents of $136.0 million”
SEC MD&A · August 5, 2026
Working capital of $452.4 million as of June 30, 2026.
“At June 30, 2026, we had working capital of $452.4 million”
SEC MD&A · August 5, 2026
Catalyst timeline
- 2039-07-15 · Phase 3 Topline: Randomized Phase III Trial INcorporating Pathologic Complete ReSponse in Participants With Early Sta — Topline data from a Phase 3 trial in early-stage cancer patients; results will inform the efficacy of the candidate.
Risks & what to watch (4)›
Key risks
- Accumulated deficit — The company had an accumulated deficit of $161.8 million as of December 31, 2025 [sec_mda · as of 2026-02-25].
- High debt level — Total debt was $200.3 million as of June 30, 2026, which may increase financial risk [latest reported financials].
- Regulatory dependency — Yield enhancement and product candidates require ongoing FDA approvals and lot releases, creating regulatory uncertainty [sec · filed 2026-04-15].
- Plasma supply concentration — Revenue depends on immunoglobulin products and intermediates, making the company sensitive to plasma supply and pricing [sec_mda · as of 2024-05-09].
What to watch
- Full-year 2026 revenue and margin impact from the yield-enhanced production process [sec · filed 2026-04-15].
- Progress on the Boca Raton campus expansion and its effect on capacity and operational efficiency [sec · filed 2026-04-15].
- Updates on the ADMAlytics AI program and its contribution to supply chain optimization [sec · filed 2026-04-15].
- Any new clinical or regulatory developments for pipeline candidates, including post-marketing trials for ASCENIV [sec_mda · as of 2026-02-25].
Sources: News · SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.68 · 1% dilution
Lead: Approved
1 candidate
1 upcoming, next in ~4702d
5 buys · 3 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
355
Total value held
$1.87B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 36,830,774 | $331.8M |
| vanguard capital management llc | 20,613,742 | $185.7M |
| state street corp | 14,084,205 | $126.9M |
| vanguard portfolio management llc | 8,868,657 | $79.9M |
| citadel advisors llc | 6,247,242 | $56.3M |
| geode capital management, llc | 5,824,116 | $52.5M |
| caligan partners lp | 5,056,511 | $45.6M |
| dimensional fund advisors lp | 5,005,481 | $45.1M |
| american century companies inc | 4,789,011 | $43.1M |
| invesco ltd. | 4,119,577 | $37.1M |
Showing top 10 of 355 institutional holders of ADMA BIOLOGICS, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 11.7%
- Days to cover
- 2.5
- Shares short
- 22,175,506
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ADMA short interestGovernance
Frequently asked questions
What is the AI investment thesis for ADMA BIOLOGICS, INC.?
ADMA Biologics is a vertically integrated plasma-derived biologics company focused on manufacturing and commercializing immunoglobulin products for immune-compromised patients, with a growing commercial portfolio and an expanding manufacturing footprint.
What is ADMA BIOLOGICS, INC.'s lead drug candidate?
ADMA BIOLOGICS, INC.'s most advanced tracked candidate is ASCENIV (Approved) for Treatment of Primary Humoral Immunodeficiency (PI) / Primary Immunodeficiency Disease (PIDD) in adults and adolescents (12 to 17 years of age).
What is ADMA BIOLOGICS, INC.'s next catalyst?
ADMA BIOLOGICS, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: Randomized Phase III Trial INcorporating Pathologic Complete ReSponse in Participants With Early Sta" — expected July 15, 2039.
Who is the CEO of ADMA BIOLOGICS, INC.?
Mr. Adam S. Grossman is the chief executive officer of ADMA BIOLOGICS, INC. (ADMA).
Where is ADMA BIOLOGICS, INC. headquartered?
ADMA BIOLOGICS, INC. (ADMA) is headquartered in Ramsey, NJ, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.