ADMA

A month has gone by since the last earnings report for Adma Biologics (ADMA). Shares have lost about 4.8% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Adma Biologics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. ADMA Q2 Earnings Meet, Revenues Miss on Bivigam Weakness ADMA Biologics reported second-quarter 2026 earnings of 16 cents per share, which matched the Zacks Consensus Estimate and rose from 14 cents in the year-ago quarter. Revenues grew 2.0% year over year to $124.4 million but missed the Zacks Consensus Estimate of $126.0 million. ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus). Strong Asceniv growth and margin expansion were partly offset by a sharp year-over-year decline in Bivigam sales. ADMA’s Asceniv Sales Maintain Strong Momentum Asceniv revenues increased 23.5% year over year to $102.9 million. The product accounted for most of ADMA’s quarterly revenues and remained the company’s principal growth driver amid competitive pressure across the broader U.S. immune globulin market. Management stated that Asceniv utilization strengthened progressively during the quarter. June produced the strongest sequential month-over-month utilization growth since the first half of 2024, supported by new patient starts, broader prescriber engagement and higher patient utilization. ADMA Biologics Faces Continued Bivigam Pressure Bivigam revenues plunged 48.5% year over year to $19.4 million. Increased supply, aggressive discounting and competitive pricing continued to pressure the standard immune globulin market. However, Bivigam revenues improved sequentially. Management said demand stabilized during the second quarter and expects the product’s current run rate to remain sustainable, though the company is not incorporating a meaningful recovery into its guidance. ADMA’s Product Mix Drives Margin Expansion Gross profit increased to $86.3 million from $67.2 million in the prior-year period. Gross margin expanded to 69% from 55%, reflecting a greater contribution from the higher-margin Asceniv product and benefits from the yield-enhanced manufacturing process approved in 2025. The shift in revenue mix supported substantial earnings leverage despite modest top-line growth. ADMA Biologics Steps Up Pipeline Investment Research and development expenses climbed to $6.0 million from $1.0 million a year earlier, primarily due to investments in the SG-001 development program. Management expects quarterly R&D spending to remain near the second-quarter level, with another increase anticipated in the fourth quarter. Selling, general and administrative expenses rose to $26.7 million from $22.2 million recorded a year earlier, mainly due to higher employee-related expenses, increased software maintenance costs, greater legal and consulting fees, and investments in strategic growth initiatives. ADMA Biologics Maintains Its 2026 Outlook ADMA reiterated its 2026 revenue guidance of $530-$560 million. The company continues to expect adjusted net income in the band of $170-$200 million and adjusted EBITDA in the $265-$300 million range. The outlook assumes persistent competitive dynamics and pricing pressure in the standard immune globulin market. Asceniv is expected to remain the main driver of revenue growth, profitability and cash generation, with management forecasting upper-20% to low-30% revenue growth for the product in 2026. ADMA’s Cash Flow Supports Share Repurchases ADMA ended the quarter with $136.0 million in cash and cash equivalents. The company repurchased approximately 7.1 million shares during the quarter. Year-to-date repurchases totaled about 13.8 million shares, representing 5.3% of outstanding common stock as of June 30, 2026. ADMA remains on track to complete at least $200 million of share repurchases during 2026. ADMA Biologics Advances SG-001 ADMA continued progressing SG-001, its hyperimmune globulin program targeting S. pneumoniae. ADMA expects to submit a pre-investigational new drug meeting package to the FDA by the end of 2026 and believes the candidate could address a $300-$500 million annual revenue opportunity if approved. Estimates review followed a downward path over the past two months. At this time, Adma Biologics has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Adma Biologics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Adma Biologics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Myriad Genetics (MYGN), has gained 1.6% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Myriad reported revenues of $190.7 million in the last reported quarter, representing a year-over-year change of -10.5%. EPS of -$0.25 for the same period compares with $0.05 a year ago. For the current quarter, Myriad is expected to post a loss of $0.16 per share, indicating a change of 0% from the year-ago quarter. The Zacks Consensus Estimate has changed -118.2% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #5 (Strong Sell) for Myriad. Also, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Myriad Genetics, Inc. (MYGN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ADMA Biologics, Inc. ADMA reported second-quarter 2026 earnings of 16 cents per share, which matched the Zacks Consensus Estimate and rose from 14 cents in the year-ago quarter. Revenues grew 2.0% year over year to $124.4 million but missed the Zacks Consensus Estimate of $126.0 million. ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus). Strong Asceniv growth and margin expansion were partly offset by a sharp year-over-year decline in Bivigam sales. ADMA Biologics Inc price-consensus-eps-surprise-chart | ADMA Biologics Inc Quote Asceniv revenues increased 23.5% year over year to $102.9 million. The product accounted for most of ADMA’s quarterly revenues and remained the company’s principal growth driver amid competitive pressure across the broader U.S. immune globulin market. Management stated that Asceniv utilization strengthened progressively during the quarter. June produced the strongest sequential month-over-month utilization growth since the first half of 2024, supported by new patient starts, broader prescriber engagement and higher patient utilization. Bivigam revenues plunged 48.5% year over year to $19.4 million. Increased supply, aggressive discounting and competitive pricing continued to pressure the standard immune globulin market. However, Bivigam revenues improved sequentially. Management said demand stabilized during the second quarter and expects the product’s current run rate to remain sustainable, though the company is not incorporating a meaningful recovery into its guidance. Gross profit increased to $86.3 million from $67.2 million in the prior-year period. Gross margin expanded to 69% from 55%, reflecting a greater contribution from the higher-margin Asceniv product and benefits from the yield-enhanced manufacturing process approved in 2025. The shift in revenue mix supported substantial earnings leverage despite modest top-line growth. Research and development expenses climbed to $6.0 million from $1.0 million a year earlier, primarily due to investments in the SG-001 development program. Management expects quarterly R&D spending to remain near the second-quarter level, with another increase anticipated in the fourth quarter. Selling, general and administrative expenses rose to $26.7 million from $22.2 million recorded a year earlier, mainly due to higher employee-related expenses, increased software maintenance costs, greater legal and consulting fees, and investments in strategic growth initiatives. ADMA reiterated its 2026 revenue guidance of $530-$560 million. The company continues to expect adjusted net income in the band of $170-$200 million and adjusted EBITDA in the $265-$300 million range. The outlook assumes persistent competitive dynamics and pricing pressure in the standard immune globulin market. Asceniv is expected to remain the main driver of revenue growth, profitability and cash generation, with management forecasting upper-20% to low-30% revenue growth for the product in 2026. ADMA ended the quarter with $136.0 million in cash and cash equivalents. The company repurchased approximately 7.1 million shares during the quarter. Year-to-date repurchases totaled about 13.8 million shares, representing 5.3% of outstanding common stock as of June 30, 2026. ADMA remains on track to complete at least $200 million of share repurchases during 2026. ADMA continued progressing SG-001, its hyperimmune globulin program targeting S. pneumoniae. ADMA expects to submit a pre-investigational new drug meeting package to the FDA by the end of 2026 and believes the candidate could address a $300-$500 million annual revenue opportunity if approved. ADMA’s performance in the second quarter was mixed, with earnings matching expectations but revenues missing the same as the company grapples with challenges in the IG market. The stock is down in pre-market trading. Year to date, shares of ADMA have plunged 49.2% against the industry’s growth of 2.6%. Image Source: Zacks Investment Research Per management, increased supply and pricing competition continues to weigh on the standard IG market. Nonetheless, demand for Asceniv remains strong. Management believes Asceniv remains in the early stages of penetrating the later-line refractory primary immunodeficiency market and represents a key long-term growth driver for ADMA (supported by a differentiated, patented supply and manufacturing platform). ADMA currently has a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY, Liquidia Corporation LQDA and Novavax NVAX, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share (EPS) have risen from $3.20 to $3.33, while those for 2027 EPS have increased from $3.64 to $3.87 during the same time. Harmony Biosciences’ earnings missed estimates in three of the trailing four quarters and beat on the remaining occasion, delivering an average negative surprise of 13.97%. Over the past 60 days, estimates for Liquidia’s 2026 EPS have increased from $2.97 to $3.02, while those for 2027 EPS have improved from $4.81 to $5.31. Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%. Over the past 60 days, estimates for Novavax’s 2026 loss per share have remained unchanged at 20 cents. Over the same period, loss per share estimates for 2027 have narrowed from 26 cents to 25 cents. Novavax’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 305.24%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Novavax, Inc. (NVAX) : Free Stock Analysis Report Liquidia Corporation (LQDA) : Free Stock Analysis Report Harmony Biosciences Holdings, Inc. (HRMY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Total Revenue: $124.4 million in Q2 2026, a 2% increase year-over-year. Ascentiv Revenue: $102.9 million, up 24% year-over-year. Bivigam Revenue: $19.4 million, reflecting sequential improvement from Q1. Gross Margin: 69%, up from 55% in the prior-year period. Adjusted EBITDA: $61.8 million, up 22% year-over-year. Adjusted Net Income: $39 million, up 8% year-over-year. GAAP Net Income: $37.8 million, up 11% year-over-year. Cash and Cash Equivalents: Approximately $136 million at quarter end. Cash from Operations: Approximately $30 million during the quarter. Accounts Receivable: $138.2 million, with DSOs improving to approximately 101 days. Inventory: $239.3 million at quarter end. Share Repurchases: Approximately 7.1 million shares repurchased during Q2, bringing year-to-date total to 13.8 million shares. Warning! GuruFocus has detected 2 Warning Sign with ADMA. Is ADMA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ADMA Biologics Inc (NASDAQ:ADMA) reported strong second-quarter results with total revenue of $124.4 million, a 2% year-over-year increase, and gross margin expanding significantly to 69% from 55% in the prior-year period. Ascentiv revenue grew 24% year-over-year to $102.9 million, with June delivering the strongest sequential month-over-month end-user utilization growth since the first half of 2024, driven by increasing physician adoption and new patient starts. The company generated strong cash flow with $30 million in operating cash flow during the quarter, ending with $136 million in cash and maintaining a net leverage of less than half a turn, providing substantial financial flexibility. ADMA Biologics Inc (NASDAQ:ADMA) is actively returning capital to shareholders, having repurchased approximately 13.8 million shares year-to-date (about 5.3% of outstanding stock) and remains on track to complete its $200 million or more 2026 share repurchase target. The company submitted a new abstract for the 2026 ACAAI meeting showing statistically significant reductions in infection-related hospitalizations, outpatient utilization, and antibiotic use in 127 medically complex PI patients after switching to Ascentiv, strengthening its real-world evidence base. ADMA Biologics Inc (NASDAQ:ADMA) reiterated its full-year 2026 guidance for revenue of $530-$560 million and adjusted EBITDA of $265-$300 million, expressing confidence in meeting or exceeding expectations. The pipeline candidate SG001 is progressing on track, with planned cGMP conformant lot production in H2 2026 and a pre-IND meeting package submission to the FDA by year-end, representing a potential $300-$500 million annual revenue opportunity. ADMA Biologics Inc (NASDAQ:ADMA) continues to face significant competitive pressures in the US standard immunoglobulin market, including increased supply and aggressive discounting and rebating from competitors. Bivigam revenue declined substantially year-over-year to $19.4 million, and while it stabilized sequentially, management still anticipates it to be down 40-50% from 2025 levels for the full year. The company's effective tax rate increased to 24.7% in the quarter, up approximately 10 percentage points year-over-year due to discrete tax benefits recognized in the prior-year period, impacting net income growth. Accounts receivable DSOs remain elevated at approximately 101 days, though improving from 107 days in Q1, and the company targets maintaining DSOs between 90-105 days in the second half of 2026. R&D expenses are expected to step up in the coming quarters as the company prepares for SG001's potential future clinical trial and conformance lot manufacturing, which could pressure near-term profitability. The company's guidance assumes sustained competitive dynamics and pricing pressure in the standard IG market through the balance of the year, reflecting a conservative outlook despite improving commercial indicators. While Ascentiv is growing, the overall IG portfolio faces headwinds from market dislocation, and management noted that Bivigam remains substantially down year-over-year despite stabilization efforts. Q: Can you provide more color on what drove the acceleration in Ascentiv demand, particularly in June, and whether the 2% to 4% month-over-month growth rate could be exceeded?A: Adam Grossman, President and CEO, stated that June's month-over-month growth was "outsized" compared to the typical 2% to 4% forecast. He attributes the acceleration to a combination of factors, including increased physician adoption, new patient starts, and the growing body of real-world evidence. He noted that the company's grassroots medical education efforts and published data are changing clinician mindsets, bolstering confidence in Ascentiv's differentiated profile for patients not thriving on standard IG therapy. While the guidance assumes a smoothed 2% to 4% monthly growth rate, the company is seeing an acceleration in end-user utilization and pull-through from distribution partners. Q: What is your current thinking on how quickly orders associated with the McKesson deal might develop, and how do payment terms compare to other customers?A: Adam Grossman, President and CEO, explained that McKesson is an important part of the go-forward strategy for Ascentiv. He noted that some GPO buying groups that purchase through McKesson are primarily focused on secondary immune deficiency, which does not overlap with current call points. The company is seeing very good utilization and having productive conversations with decision-makers. Regarding payment terms, McKesson's terms are "a little faster" than some other customers, and the company is very happy with the partnership, expecting it to continue through the back half of 2026 and into 2027. Q: Can you provide any new statistics or color on reimbursement dynamics for Ascentiv, and have you noticed any shifts or signals in the market?A: Adam Grossman, President and CEO, stated that both Ascentiv and Bivigam see broad access throughout the commercial reimbursement landscape with no significant negative changes. Increased utilization is being driven by the body of real-world data published. While competitive pressures persist in the standard IG market, Bivigam stabilized in the quarter with stronger utilization, though still down year-over-year. Ascentiv continues to grow 24% year-over-year, with June showing the largest month-over-month growth since the first half of 2024. Payer access remains open and broad, with the company seeing increased approvals through prior authorization processes. Q: How should we think about R&D expenses for the next few quarters as SG001 continues to advance?A: Terry Koehler, CFO and Treasurer, noted that R&D stepped up in the quarter to approximately $6 million as the company prepares for a potential future clinical trial for SG001. He expects this level to carry throughout the rest of the year, with a potential step-up in Q4 as the company begins manufacturing conformance lots. Q: What is the visibility on when the traditional IG market will normalize, and could Bivigam return to modest growth in 2027?A: Adam Grossman, President and CEO, stated that the company is seeing stability with Bivigam in its market arena despite persistent competitive dynamics. The guidance remains unchanged, with Bivigam anticipated to be down 40% to 50% from 2025, while Ascentiv is expected to grow in the upper 20s to low 30% range year-over-year. He noted that Bivigam has been awarded preferred status across some GPO programs, and while there could be upside, that is not currently contemplated in guidance. The company believes the current run rate could be anticipated going forward. Q: Do you think you could get another dedicated policy decision from commercial payers, or where can commercial payer access potentially expand?A: Adam Grossman, President and CEO, explained that Ascentiv and Bivigam are in parity with other IG brands regarding payer access. The company is seeing additional access and increases across different geographic regions and commercial payers. The market access team is engaged in robust discussions with payers to secure improved access, supported by the growing body of published data. The commercial payer book of business continues to increase quarter over quarter, and the company feels good about payer access and its position for continued growth. Q: Are you working on anything in secondary immunodeficiency that would help uptake in that segment, and how important will that be for overall growth?A: Adam Grossman, President and CEO, mentioned ongoing investigator-initiated studies in organ transplant patients, mainly lung, with results expected sometime this year. There are also studies kicking off in the oncology setting. While the primary focus remains on the on-label primary immunodeficiency market, the company is starting to see utilization in secondary immunodeficiency through McKesson specialty relationships and community oncology practices. He noted that secondary immunodeficiency is the fastest-growing area of IG use in the US, and the company has "big hopes and dreams" to penetrate that market over time, though it is not the most important focus today. Q: Can you provide more detail on the new real-world evidence data submitted for presentation at the 2026 ACAAI meeting?A: Adam Grossman, President and CEO, highlighted the submission of an abstract for the 2026 American College of Allergy, Asthma, and Immunology Annual Scientific Meeting. The analysis involved 127 medically complex primary immunodeficiency patients, the majority of whom had previously received other immunoglobulin replacement therapies. Following initiation of Ascentiv treatment, patients experienced statistically significant reductions in infection-related hospitalizations, outpatient healthcare utilization, oral antibiotic use, and corticosteroid use. The proportion of patients experiencing infection-related emergency room visits also declined. These results are especially meaningful given the cohort's significant baseline disease burden, including chronic pulmonary and respiratory comorbidities. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in ADMA Biologics Inc? Here are five stocks we like better. Second-quarter revenue rose 2% to $124.4 million, driven by a 24% increase in ASCENIV sales to $102.9 million, which offset ongoing pressure on BIVIGAM. Gross margin expanded to 69%, while adjusted EBITDA grew 22% to $61.8 million. ADMA reiterated its 2026 guidance of $530 million–$560 million in revenue, $265 million–$300 million in adjusted EBITDA and $170 million–$200 million in adjusted net income. The company remains on track to repurchase at least $200 million of shares during the year. The company reported accelerating ASCENIV utilization and favorable real-world patient outcomes, while advancing SG-001 toward potential FDA engagement by year-end 2026; ADMA estimates the candidate could generate $300 million–$500 million in annual revenue if approved. 3 Biotech Firms With Major Potential Catalysts in the Coming Months ADMA Biologics (NASDAQ:ADMA) reported second-quarter revenue growth of 2% as increased sales of its ASCENIV immune globulin product offset pressure on BIVIGAM in the standard immunoglobulin market. The company reiterated its full-year financial outlook and said it remains on track to meet or exceed those expectations. Total revenue for the quarter was $124.4 million, compared with $122 million a year earlier. ASCENIV revenue rose 24% year over year to $102.9 million, while BIVIGAM revenue totaled $19.4 million and improved sequentially from the first quarter as market conditions stabilized. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control 3 Mid-Cap Medical Stocks Outperforming the Market “ASCENIV demand accelerated during the second quarter, and June delivered the strongest sequential utilization growth we have experienced since the first half of 2024,” President and Chief Executive Officer Adam Grossman said. He attributed the trend to physician adoption, broader provider engagement, new patient starts and higher patient utilization. Gross profit increased to $86.3 million, producing a gross margin of 69%, compared with 55% in the prior-year quarter. Chief Financial Officer and Treasurer Terry Kohler said the expansion reflected a greater proportion of ASCENIV in the company’s sales mix and benefits from its yield-enhanced manufacturing process. Adjusted EBITDA increased 22% year over year to $61.8 million. Adjusted net income rose 8% to $39 million. GAAP net income increased 11% to $37.8 million. Cash from operations totaled about $30 million. → 3 Drone Stocks That Should Soar After the Summer Slump There May Still Be Time to Get in on These 3 Trending Biotechs The company’s effective tax rate was 24.7% during the quarter, roughly 10 percentage points higher than a year earlier. Kohler said the year-ago period included discrete tax benefits and that ADMA expects its normalized effective tax rate to be approximately 24% going forward. ADMA ended the quarter with about $136 million in cash and cash equivalents, net leverage of less than half a turn, and approximately $100 million of additional borrowing capacity under its revolving credit facility. Accounts receivable were $138.2 million, with days sales outstanding improving to about 101 days from approximately 107 days at the end of the first quarter. Inventory was $239.3 million. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure During the quarter, ADMA repurchased approximately 7.1 million shares using internally generated cash flow. Year-to-date repurchases totaled about 13.8 million shares, representing approximately 5.3% of common shares outstanding as of June 30. Grossman said the company remains on track to complete its target of at least $200 million in share repurchases during 2026. The company reiterated its full-year 2026 guidance: Total revenue of $530 million to $560 million. Adjusted EBITDA of $265 million to $300 million. Adjusted net income of $170 million to $200 million. Kohler said the outlook assumes continued competitive pressure and pricing dynamics in the standard immune globulin market, while ASCENIV is expected to remain the principal contributor to revenue growth, profitability and cash generation. Grossman said ASCENIV utilization grew progressively through the quarter, while distributor-reported end-user inventory remained consistent with underlying demand. He said the product is being adopted among later-line, refractory and medically complex patients with primary immunodeficiency. ADMA submitted an abstract to the 2026 American College of Allergy, Asthma and Immunology annual scientific meeting covering a real-world analysis of 127 medically complex primary immunodeficiency patients. According to Grossman, the analysis compared the 12 months before patients began ASCENIV with the following 12 months and found statistically significant reductions in infection-related hospitalizations, outpatient utilization, oral antibiotic use and corticosteroid use. The proportion of patients with infection-related emergency-room visits also declined, he said. The company said it believes the findings may support physician adoption, payer engagement and patient access. Grossman told analysts that ASCENIV and BIVIGAM have broad commercial reimbursement access, with ASCENIV generally in parity with other immunoglobulin brands. He added that more than 70% of immunoglobulin prescriptions require prior authorization. While ADMA continues to face increased supply, discounting and rebate pressure in the standard immune globulin market, Grossman said BIVIGAM stabilized during the quarter and posted sequential gains in utilization and revenue. The company still expects BIVIGAM revenue to be down about 40% to 50% from 2025 levels, while it expects ASCENIV growth in the upper-20% to low-30% range year over year. Grossman also discussed ADMA’s relationship with McKesson, saying it is part of the company’s strategy to expand ASCENIV penetration. Some group purchasing organization customers buying through McKesson focus primarily on secondary immune deficiency and do not overlap with ADMA’s existing ASCENIV call points through legacy distribution partners, he said. He added that McKesson’s payment terms are somewhat faster than those of certain other customers. ADMA is advancing SG-001, its development-stage product candidate intended to address pneumococcal disease risk among immunocompromised patients. Grossman said the company is pursuing plasma-collection optimization, potency-assay development and additional preclinical work to support production of cGMP conformance lots in the second half of 2026 and submission of a pre-IND meeting package to the U.S. Food and Drug Administration by year-end. Grossman said ADMA estimates that, if approved, SG-001 could represent a $300 million to $500 million annual revenue opportunity. Kohler said research and development expense rose as the company prepares for a potential future clinical trial, and that the approximately $6 million quarterly R&D level should continue through the rest of the year, with another smaller increase expected in the fourth quarter as conformance lots are manufactured. ADMA Biologics, Inc is a biopharmaceutical company headquartered in Ramsey, New Jersey, that focuses on the development, manufacturing and commercialization of specialty plasma-derived biologics for the treatment of primary immunodeficiency and infectious diseases. Leveraging an integrated model that spans plasma collection, fractionation, formulation and fill-finish operations, ADMA Biologics aims to address unmet needs in immune-compromised and high-risk patient populations. The company's marketed product portfolio includes BIVIGAM, a human immunoglobulin intravenous (IGIV) therapy approved by the U.S. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "ADMA Biologics Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

2Q 2026 Total Revenue of $124.4 Million, Increasing 2% Year-over-Year 2Q 2026 ASCENIV Revenue of $102.9 Million, Increasing 24% Year-over-Year BIVIGAM Utilization Stabilized with Sequential Improvement in Demand and Revenue 2Q 2026 GAAP Net Income of $37.8 Million, Increasing 11% Year-over-Year 2Q 2026 Adjusted Net Income(1) of $39.0 Million, Increasing 8% Year-over-Year 2Q 2026 GAAP Basic EPS of $0.17, Increasing 17% Year-over-Year 2Q 2026 Adjusted EBITDA(2) of $61.8 Million, Increasing 22% Year-over-Year Strong Balance Sheet and Financial Flexibility Support Continued Execution ACAAI Abstract Submitted Highlighting Significant Real-World Health Outcomes and Healthcare Resource Utilization Improvements in PI Patients Treated with ASCENIV Accelerating ASCENIV Demand and Expanding Real-World Evidence Reinforce ADMA’s Robust Growth Opportunity Reiterates FY2026 Financial Guidance RAMSEY, N.J. and BOCA RATON, Fla., Aug. 05, 2026 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), a U.S.-based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics, today announced its second quarter 2026 financial results and provided a business update. “Our second quarter results reflect strong execution across the business and demonstrate the power of ASCENIV’s growth trajectory,” said Adam Grossman, President and Chief Executive Officer of ADMA. “ASCENIV continued to outperform, supported by increasing physician adoption, broader prescriber engagement, new patient starts and higher patient utilization. Growth in ASCENIV utilization accelerated in the quarter, with June delivering the strongest sequential month-over-month utilization growth since the first half of 2024. BIVIGAM demand continued to stabilize during the quarter, resulting in sequential improvement in utilization and revenue. Together, these trends reinforce our confidence in sustained growth throughout the balance of 2026." Mr. Grossman continued, “During the first half of 2026, ADMA further enhanced its robust real-world health outcomes and healthcare resource utilization data, which we believe further differentiates ASCENIV in later-line, refractory and medically complex primary immunodeficiency patients. We generated data comprising 127 real-world ASCENIV-treated patients, the majority of whom had previously received other immune globulin therapies and switched to ASCENIV. The study’s findings demonstrated that patients experienced statistically significant reductions in infection-related hospitalizations, outpatient healthcare utilization, oral antibiotic use and corticosteroid use following ASCENIV administration, and the findings have been submitted as an abstract to the November 2026 American College of Allergy, Asthma & Immunology (“ACAAI”) Annual Scientific Meeting. Supported by this expanding real-world evidence base, we believe these datasets will further strengthen ASCENIV’s already robust patient access and commercial payer coverage. We believe ASCENIV remains early in its penetration of this underserved market, supporting our confidence in meeting or exceeding guidance ranges for 2026 and unwavering optimism in the product’s peak revenue potential.” Reiterated FY2026 Financial Guidance FY2026 total revenue expected to be $530 million to $560 million FY2026 Adjusted Net Income expected to be $170 million to $200 million FY2026 Adjusted EBITDA expected to be $265 million to $300 million The FY2026 outlook continues to reflect sustained competitive dynamics and pricing pressure within the U.S. immune globulin market through the balance of the year. ASCENIV is expected to remain ADMA’s principal growth driver, supported by accelerating demand, expanding physician adoption and an increasing body of differentiated clinical and real-world evidence. Commercial Execution Reinforces ASCENIV’s Growth Trajectory ASCENIV Demand Continued to Accelerate. ASCENIV demand accelerated throughout the second quarter, culminating in June with the strongest sequential month-over-month utilization growth since the first half of 2024. The acceleration in distributor reported end-user utilization in the second quarter of 2026 reinforces management’s view that ASCENIV remains early in its penetration of the later-line, refractory primary immunodeficiency (“PI”) market. ASCENIV Continued to Outperform in its Insulated Total Addressable Market (TAM) and BIVIGAM Utilization is Stabilizing Despite an Evolving, Competitive U.S. IG Market Backdrop. ASCENIV continued to outperform, supported by increasing physician adoption, broader provider engagement, new patient starts and higher patient utilization. BIVIGAM demand stabilized during the second quarter, resulting in sequential improvement in utilization and revenue. New Real-World Health Outcomes Data Further Differentiated ASCENIV. ADMA submitted an abstract for publication at the 2026 ACAAI Annual Scientific Meeting highlighting results from a large real-world health outcomes and healthcare resource utilization analysis of 127 medically complex PI patients, the majority of whom had previously received other immune globulin therapies. Following initiation of ASCENIV treatment, patients experienced statistically significant reductions in infection-related hospitalizations, outpatient healthcare utilization, oral antibiotic use and corticosteroid use. The proportion of patients experiencing infection-related emergency-room visits also declined. The Company believes these findings further validate ASCENIV's differentiated value proposition, reinforce its positioning in later-line, refractory PI patients and support continued physician adoption, payer access and utilization. These findings complement ASCENIV's broad commercial payer coverage and support its continued commercial expansion. Commercial Momentum Supports Reiterated FY2026 Financial Guidance. Accelerating ASCENIV demand, stabilization in BIVIGAM, and continued strong cash generation reinforce management’s confidence in meeting or exceeding the Company’s FY2026 financial guidance. Disciplined Capital Allocation Continues to Enhance Stockholder Value. During the second quarter, ADMA repurchased approximately 7.1 million shares of common stock under its previously authorized share repurchase program. Year-to-date total stock repurchases through June 30, 2026 were approximately 13.8 million shares, amounting to 5.3% of the Company’s common stock outstanding. In addition to the Company’s accelerated share repurchase (ASR) program completed in the second quarter, ADMA’s stock repurchases were funded through organically generated operating cash flow, while the Company maintained substantial financial flexibility to support commercial expansion, manufacturing initiatives and pipeline development. The Company remains active with share repurchases and is on track to complete its previously stated $200 million or more 2026 share repurchase target. SG-001 Development Remains on Track. ADMA continues to advance plasma collection optimization, potency assay development and preclinical activities supporting planned conformance lot production during the second half of 2026, ahead of the anticipated submission of its pre-Investigational New Drug (IND) meeting package to the U.S. Food and Drug Administration by year-end.   Leveraging ADMA’s existing platform and commercial infrastructure, the Company believes it is positioned for a potentially rapid commercial ramp-up toward an approximately $300 to $500 million market opportunity. Second Quarter 2026 Financial Results: Total revenue for the quarter ended June 30, 2026 was $124.4 million, compared to $122.0 million for the quarter ended June 30, 2025. ASCENIV revenue of $102.9 million in the quarter demonstrated 24% growth year-over-year, while BIVIGAM revenue was $19.4 million, a 49% decline year-over-year, however, growing sequentially from the first quarter 2026 trough levels. Gross profit for the quarter ended June 30, 2026 was $86.3 million, compared to $67.2 million in the prior-year period, resulting in gross margin of 69% in 2026 compared to 55% in the prior-year period. The gross margin expansion year-over-year reflects the product mix shift towards the higher margin ASCENIV product as well as the continued impact of the Company’s yield enhanced manufacturing process approved in 2025. Research and development expenses for the quarter ended June 30, 2026 were $6.0 million, compared to $1.0 million in the prior-year period, primarily driven by investment in the SG-001 development project. Selling, general and administrative expenses for the quarter ended June 30, 2026 were $26.7 million, compared to $22.2 million in the prior-year period, primarily driven by higher employee-related costs, increased software maintenance costs, higher professional and consulting fees associated with ongoing legal and related matters, and strategic initiatives supporting corporate growth. GAAP net income for the quarter ended June 30, 2026 was $37.8 million, compared to $34.2 million for the quarter ended June 30, 2025. The 11% growth in GAAP net income year-over-year was driven primarily by a favorable product mix, reflecting continued ASCENIV growth and higher gross margins, partially offset by an increase in the effective tax rate to 24.7% in the current period as compared to 14.7% in the second quarter of 2025. GAAP Basic EPS was $0.17 for the quarter ended June 30, 2026, compared to $0.14 in the prior-year period, representing 17% year-over-year growth. Adjusted Net Income for the quarter ended June 30, 2026 was $39.0 million, representing 8% year-over-year growth. Adjusted EBITDA for the quarter ended June 30, 2026 was $61.8 million, representing 22% year-over-year growth. First Half 2026 Financial Results: Total revenue for the six months ended June 30, 2026 was $238.9 million, compared to $236.8 million for the six months ended June 30, 2025. ASCENIV revenue of $200.4 million in the first half of 2026 demonstrated 26% growth year-over-year, while BIVIGAM revenue was $34.8 million, representing a year-over-year decline of 51%. Gross profit for the six months ended June 30, 2026 was $167.0 million, compared to $128.3 million in the prior-year period, resulting in gross margin of 70%, compared to 54% in the prior-year period. The year-over-year gross margin expansion reflects a favorable product mix driven by continued ASCENIV growth, as well as the ongoing benefits of the Company's yield-enhanced manufacturing process approved in 2025. Research and development expenses for the six months ended June 30, 2026 were $8.6 million, compared to $1.9 million in the prior-year period, primarily reflecting continued investment in the advancement of the Company's SG-001 pipeline program. Selling, general and administrative expenses for the six months ended June 30, 2026 were $53.5 million, compared to $46.3 million in the prior-year period, primarily driven by an increase in personnel costs, including stock-based compensation, and an increase in professional and consulting fees associated with ongoing legal and related matters and strategic initiatives supporting corporate growth. GAAP net income for the six months ended June 30, 2026 was $83.1 million, compared to $61.1 million in the prior-year period. The 36% year-over-year increase in GAAP net income was primarily driven by favorable product mix resulting from continued ASCENIV growth and higher gross margins, and also benefited from the divestiture of three plasma collection centers during the first quarter of 2026. GAAP Basic EPS for the six months ended June 30, 2026 was $0.36, compared to $0.26 in the prior-year period, representing 38% year-over-year growth. Adjusted Net Income for the six months ended June 30, 2026 was $79.6 million, representing 15% year-over-year growth. Adjusted EBITDA for the six months ended June 30, 2026 was $121.5 million, representing 23% year-over-year growth. Conference Call Information To access the conference call seamlessly, participants are required to register for the call here to receive the dial-in numbers and unique PIN. It is recommended that you join approximately 10 minutes prior to the event start (although you may dial in at any time during the call). Attendees who will not be asking a question during the call are encouraged to listen in to the live webcast here. An archived replay of the event will be available, located under “Events & Webcasts” in the investor section of the Company’s website at https://ir.admabiologics.com/events-webcasts. About ASCENIV™ ASCENIV (immune globulin intravenous, human – slra 10% liquid) is a plasma-derived, polyclonal, intravenous immune globulin (IVIG). ASCENIV was approved by the United States Food and Drug Administration (FDA) in April 2019 and is indicated for the treatment of primary humoral immunodeficiency (PI), also known as primary immune deficiency disease (PIDD), in adults and children (2 to 17 years of age). ASCENIV is manufactured using ADMA’s unique, patented plasma donor screening methodology and tailored plasma pooling design, which blends normal source plasma and respiratory syncytial virus (RSV) plasma obtained from donors tested using the Company’s proprietary microneutralization assay. ASCENIV contains naturally occurring polyclonal antibodies, which are proteins that are used by the body’s immune system to neutralize microbes such as bacteria and viruses that safeguard against infection and disease. ASCENIV is protected by numerous issued patents in the United States and internationally and a wide range of patent applications worldwide. Certain data and other information about ASCENIV can be found by visiting www.asceniv.com. Information about ADMA and its products can be found on the Company’s website at www.admabiologics.com. Additional Important Safety Information About ASCENIV™ ASCENIV™ Contraindications: History of anaphylactic or severe systemic reactions to human immunoglobulin. IgA deficient patients with antibodies to IgA and a history of hypersensitivity. ASCENIV™ Warnings and Precautions: IgA-deficient patients with antibodies against IgA are at greater risk of developing severe hypersensitivity and anaphylactic reactions. Have medications such as epinephrine available to treat any acute severe hypersensitivity reactions. [4, 5.1] Thrombotic events have occurred in patients receiving IGIV treatments. Monitor patients with known risk factors for thrombotic events; consider baseline assessment of blood viscosity for patients at risk of hyperviscosity. [5.2, 5.4] In patients at risk of developing acute renal failure, monitor renal function, including blood urea nitrogen (BUN), serum creatinine, and urine output. [5.3, 5.9] Hyperproteinemia, increased serum viscosity, and hyponatremia or pseudohyponatremia can occur in patients receiving IGIV treatment. Aseptic meningitis syndrome (AMS) has been reported with IGIV treatments, especially with high doses or rapid infusion. [5.5] Hemolytic anemia can develop subsequent to IGIV treatment. Monitor patients for hemolysis and hemolytic anemia. [5.6] Monitor patients for pulmonary adverse reactions (Transfusion-related acute lung injury [TRALI]). If transfusion related acute lung injury is suspected, test the product and patient for antineutrophil antibodies. [5.7] Because this product is made from human blood, it may carry a risk of transmitting infectious agents, e.g., viruses, and theoretically, the Creutzfeldt-Jakob disease (CJD) agent. ASCENIV™ Adverse Reactions: The most common adverse reactions to ASCENIV (≥5% of study subjects) were headache, sinusitis, diarrhea, gastroenteritis viral, nasopharyngitis, upper respiratory tract infection, bronchitis, and nausea. To report SUSPECTED ADVERSE REACTIONS, contact ADMA Biologics at (800) 458-4244 or the FDA at 1-800-FDA-1088 or http://www.fda.gov/medwatch. About ADMA Biologics, Inc. (ADMA) ADMA Biologics is a U.S.-based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty 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: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. Additionally, ADMA is developing SG-001, a pre-clinical, investigative hyperimmune globulin targeting S. pneumonia. ADMA manufactures its immune globulin products and product candidates 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 its blood plasma for the manufacture of its products and product candidates. 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 holds numerous U.S. and foreign patents related to and encompassing various aspects of its products and product candidates. For more information, please visit www.admabiologics.com. Use of Non-GAAP Financial Measures This press release includes certain non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company believes Adjusted EBITDA and Adjusted Net Income are useful to investors in evaluating the Company’s financial performance. The Company uses Adjusted EBITDA and Adjusted Net Income as key performance measures because it believes that they facilitate operating performance comparisons from period to period that exclude potential differences driven by the impact of variations of non-cash items such as depreciation and amortization, as well as, in the case of Adjusted EBITDA, stock-based compensation or certain non-recurring items, and in the case of Adjusted Net Income, certain non-recurring items. The Company believes that investors should have access to the same set of tools used by its management and Board of Directors to assess its operating performance. Adjusted EBITDA and Adjusted Net Income should not be considered as measures of financial performance under GAAP, and the items excluded from Adjusted EBITDA and Adjusted Net Income are significant components in understanding and assessing the Company’s financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be considered as an alternative to net income, cash flows from operations, or any other performance measures derived in accordance with GAAP and may be different from similarly titled non-GAAP measures used by other companies. Please refer to the tables below for the reconciliation of GAAP measures to these non-GAAP measures for applicable periods. The Company has not provided a reconciliation of its forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure because certain items that are excluded from such non-GAAP financial measures cannot be reasonably predicted or estimated without unreasonable effort. These items may include, but are not limited to, costs associated with potential business development, licensing, collaboration, acquisition, divestiture or other strategic transactions; unusual legal, litigation, regulatory, settlement and related professional fees, expenses and other organizational optimization costs; and other unusual, non-recurring, infrequent or non-cash items that may arise during the applicable period. The timing, occurrence, and magnitude of these items are inherently uncertain and depend on a variety of factors that are outside of the Company's control or cannot be reasonably predicted at this time. Accordingly, management is unable to estimate these amounts with reasonable certainty or determine the probable significance of such items to the corresponding GAAP financial measure without unreasonable effort. These items could have a material impact on the Company's GAAP results for the applicable reporting period. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. (“we,” “our” or the “Company”). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as “confident,” “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “is likely,” “will likely,” “position us,” “positioned,” “support,” “should,” “could,” “would,” “may,” “potential,” “view,” “opportunity” 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 the Company’s total revenue, Adjusted Net Income, Adjusted EBITDA, earnings and earnings potential, financial guidance in future periods and related assumptions; the current U.S. immune globulin market, including competitive pressures; sustained competitive dynamics, pricing pressure, customer ordering patterns and inventory levels; our commercial execution initiatives and intended financial benefits; ASCENIV revenue growth and potential, value proposition, growth trajectory, penetration curve, appropriate market, patient access, commercial payer coverage, adoption, demand and utilization; our share repurchase target; and SG-001, its data, development, regulatory filings, revenue potential and clinical trial timeline. 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 SEC, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto. (1) Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Adjusted Net Income to the most comparable GAAP measure, see the reconciliation included in the financial tables. All non-GAAP adjustments are presented pre-tax. (2) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, see the reconciliation included in the financial tables. INVESTOR RELATIONS CONTACT:Argot Partners | 212-600-1902 | [email protected] MEDIA CONTACT:Longacre Square Partners | [email protected]

Conference Call Scheduled for August 5, 2026, at 4:30 p.m. ET RAMSEY, N.J. and BOCA RATON, Fla., July 29, 2026 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), a U.S. based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics, today announced that it will report second quarter 2026 financial results on August 5, 2026, after the U.S. financial markets close. ADMA’s management team will host a live conference call and audio webcast on that date at 4:30 p.m. ET to discuss its financial results and other Company updates. To access the conference call seamlessly, participants are required to register for the call here to receive the dial-in numbers and unique PIN. It is recommended that you join approximately 10 minutes prior to the event start (although you may dial in at any time during the call). Attendees who will not be asking a question during the call are encouraged to listen in to the live webcast here. An archived replay of the event will be available located under “Events & Webcasts” in the investor section of the Company’s website at https://ir.admabiologics.com/events-webcasts. About ADMA Biologics, Inc. (ADMA) ADMA Biologics is a U.S.-based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty 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: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. Additionally, ADMA is developing SG-001, a pre-clinical, investigative hyperimmune globulin targeting S. pneumonia. ADMA manufactures its immune globulin products and product candidates 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 its blood plasma for the manufacture of its products and product candidates. 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 holds numerous U.S. and foreign patents related to and encompassing various aspects of its products and product candidates. For more information, please visit www.admabiologics.com. INVESTOR RELATIONS CONTACT: Argot Partners | 212-600-1902 | [email protected] MEDIA CONTACT: Longacre Square Partners | [email protected]

It has been about a month since the last earnings report for Adma Biologics (ADMA). Shares have lost about 5.8% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Adma Biologics due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for ADMA Biologics Inc before we dive into how investors and analysts have reacted as of late. ADMA Q1 EPS Jumps 73% Y/Y, Revenues Slip, 2026 View Down ADMA Biologics reported first-quarter 2026 earnings of 19 cents per share, up 73% from 11 cents in the year-ago quarter. Total revenues were $114.5 million, down 0.3% from the year-ago quarter’s level. ADMA Biologics markets plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The company’s top line currently comprises sales of three FDA-approved products — Bivigam (an Intravenous Immune Globulin [“IVIG”] product to treat primary humoral immunodeficiency), Asceniv (to treat primary immunodeficiency disease or PIDD) and Nabi-HB (to treat and provide enhanced immunity against the hepatitis B virus). Management noted that increased competition, elevated channel inventories and aggressive pricing activity in standard immunoglobulin (IG) products created temporary pressure on top-line performance, particularly for Bivigam. The company stressed that Asceniv remained resilient, delivering 28% year-over-year revenue growth, driven by record utilization, expanding prescriber adoption, strong patient adherence and continued new patient starts. ADMA’s Product Portfolio Shows a Clear Mix Shift Within ADMA’s revenue composition, Asceniv continued to play the central role in supporting results while other product lines moved in the opposite direction. Bivigam revenues declined 54% year over year, which management attributed largely to the same distribution and inventory dynamics affecting the standard IG market. Revenues from intermediates and other products also fell year over year. ADMA’s Q1 Product Mix Drives Margin Expansion The first-quarter results reflected a sharp mix shift toward higher-margin Asceniv even as the broader IG market in the United States experienced near-term dislocation tied to distributor ordering patterns and aggressive standard IG pricing. Gross margin expanded to 71% from 53% a year ago, reflecting the continuing impact of its yield-enhanced manufacturing process and a richer product mix skewed toward Asceniv. ADMA Biologics Ramps Up Investment While Maintaining Cost Discipline Operating expenses reflected both investment and ongoing scaling needs. Research and development expense increased to $2.6 million from $0.8 million in the prior-year quarter, primarily tied to investments in the SG-001 development program. Selling, general and administrative expenses rose to $26.7 million from $24.1 million, caused by higher employee-related costs and additional headcount to support the business. ADMA recorded an $8.0 million gain on the sale of plasma centers during the quarter, which helped support operating income. ADMA Biologics Weathers Volatility in the Standard IG Market Management pointed to heightened competitive dynamics across U.S. plasma-derived therapies and immunoglobulin as a key backdrop during the quarter. ADMA said that variability in distributor ordering and inventory behavior created near-term top-line pressure, with the standard IG market facing aggressive discounting and elevated inventories across the distribution channel. Even so, the company emphasized that underlying Asceniv demand remained strong, citing record utilization growth, record new patient starts, expanding prescriber breadth and steady patient adherence. ADMA also noted that April demand supported a second-quarter run rate consistent with first-quarter direct sales, giving early signs of normalization in ordering patterns. ADMA's Cash Generation and Capital Actions Stand Out ADMA highlighted strong cash generation during the quarter, with $58 million in cash from operations. Cash and cash equivalents increased to $138.2 million as of March 31, 2026, from $87.6 million as of year-end 2025. ADMA also continued share repurchases through its accelerated share repurchase program and a Rule 10b5-1 trading plan, converting approximately 3.7% of outstanding shares into treasury stock through March 31, 2026. ADMA Updates 2026 Outlook, Withdraws Long-Term Goals Given rapidly evolving competitive dynamics in the plasma products and immunoglobulin market, ADMA updated its full-year expectations and withdrew previously issued long-term guidance. The company now expects 2026 total revenues of $530 million to $560 million (previous guidance: exceeding $635 million). ADMA now expects 2026 adjusted net income of $170-$200 million (previous guidance: more than $255 million). Management said the outlook assumes sustained pressure on standard IG pricing through the remainder of the year while maintaining confidence in Asceniv’s growth trajectory and relative insulation from broader standard IG volatility. ADMA Advances SG-001 ADMA continued progressing SG-001, its hyperimmune globulin program targeting S. pneumoniae. The company said the upcoming data are expected to be presented through oral and poster presentations, supporting its development strategy. Management reiterated a capital-efficient approach to development and believes the program could represent a meaningful long-term opportunity, citing an estimated $300 million to $500 million annual market opportunity, if approved. Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions. Currently, Adma Biologics has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Adma Biologics has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Adma Biologics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Incyte (INCY), has gained 3.6% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026. Incyte reported revenues of $1.27 billion in the last reported quarter, representing a year-over-year change of +20.9%. EPS of $1.81 for the same period compares with $1.16 a year ago. For the current quarter, Incyte is expected to post earnings of $1.80 per share, indicating a change of +14.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -3.2% over the last 30 days. Incyte has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ADMA Biologics Inc (ADMA) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research