Full Press Release Details
ADMA Biologics Announces Closing of $42M
RAMSEY, N.J. & BOCA RATON, FL - November 13, 2017
- ADMA Biologics, Inc. (NASDAQ: ADMA) ("ADMA" or the "Company"), a vertically integrated commercial
biopharmaceutical and specialty immunoglobulin company that develops, manufactures and markets plasma-based biologics designed
to treat Primary Immune Deficiency Disease ("PIDD") and the prevention and treatment of certain infectious diseases,
today announced the closing of an underwritten public offering of approximately 19.5 million shares of its common stock at a public
offering price of $2.15 per share. The offering includes the full exercise of the overallotment of approximately 2.5 million shares
of common stock of the Company, which were offered and sold in connection with the 30-day option granted by the Company to the
underwriters to purchase additional shares of common stock of the Company. The net proceeds to the Company from this offering were
approximately $39.1 million, after deducting underwriters' discounts and commissions and other offering expenses payable
Raymond James & Associates, Inc. acted as the sole book-running
manager and representative of the underwriters for the offering. Ladenburg Thalmann & Co. Inc. acted as lead manager for the
A registration statement on Form S-1 related to the public offering
of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and
was declared effective on November 8, 2017. A final prospectus related to the offering has been filed with the SEC and is available
on the SEC's website at www.sec.gov. Copies of the final prospectus may also be obtained from Raymond James & Associates,
Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, or by telephone at (800) 248-8863, or by e-mail
This press release shall not constitute an offer to sell or
a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws
of any such state or other jurisdiction.
About ADMA Biologics, Inc. (ADMA)
ADMA is a vertically integrated commercial biopharmaceutical
and specialty immunoglobulin company that develops, manufactures and markets plasma-based biologics designed to treat PIDD and
the prevention and treatment of certain infectious diseases. ADMA's mission is to develop and commercialize plasma-derived, human
immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases. The target
patient populations include immune-compromised individuals who suffer from an underlying immune deficiency disease, or who may
be immune-compromised for medical reasons. ADMA has received U.S. Patents 9,107,906 and 9,714,283 related to certain aspects of
its product candidate, RI-002. For more information, please visit www.admabiologics.com.
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. Forward-looking statements include,
without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and
may contain the words "estimate," "project," "intend," "forecast," "target,"
"anticipate," "plan," "planning," "expect," "believe," "will,"
"is likely," "will likely," "should," "could," "would," "may,"
or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, without
limitation, the anticipated benefits and synergies of our recent acquisition of certain assets from Biotest Pharmaceuticals Corporation
("BPC") (the "BPC Transaction"), including optimization of the combined businesses, operations and products
and services, including liquidity, debt repayment and capital return expectations, as well as the capitalization, resources and
ownership structure of the combined company, the nature, strategy and focus of the combined company and the management and governance
structure of the combined company, our plans to develop, manufacture, market, launch and expand our own commercial infrastructure
and commercialize our current products and future products and the success of such efforts, the timing and ability to conduct further
testing of RI-002 in humans if needed, the safety, efficacy and expected timing of, and our ability to, obtain and maintain regulatory
approvals of our current products and product candidates, and the labeling or nature of any such approvals, the timeframe within
which we may receive approval from the U.S. Food and Drug Administration ("FDA"), if at all, of our Biologics License
Application ("BLA") for RI-002, our ability to address the outstanding issues in the FDA's Complete Response Letter
("CRL"), as well as other deficiencies existing at the manufacturing facility we acquired in the BPC Transaction and
the effect any adverse events on such manufacturing facility could have on us or our business, our ability to generate revenue,
if any, from the potential commercialization of RI-002, if approved by the FDA, the achievement of or expected timing, progress
and results of clinical development, clinical trials and potential regulatory approvals, our ability to resume the manufacturing
of Bivigam once the deficiencies identified in the CRL, and the warning letter issued by the FDA to BPC on November 25, 2014
with respect to the outstanding issues at the manufacturing facility in Boca Raton, Florida which we acquired from BPC in June
2017, have been resolved by us to the satisfaction of the FDA, as well as a positive review of the optimized manufacturing process
under a Prior Approval Supplement by the FDA our dependence upon our third-party and related party customers and vendors and their
compliance with regulatory bodies our ability to obtain adequate quantities of FDA-approved normal source plasma and Respiratory
Syncytial Virus ("RSV"), high-titer plasma with proper specifications, our plans to increase our supplies of plasma,
the potential indications for our product candidates, our ability to expand our plasma center network, regulatory processes, interpretations
of final data, possible characteristics of RI-002, acceptability of any of our products as well as RI-002 for any purpose, by physicians,
patients or payers, concurrence by the FDA with our conclusions and the satisfaction by us of its guidance, the likelihood and
timing of FDA action with respect to any further filings by the Company, results of the clinical development, continuing demonstrations
of safety, comparability of results of RI-002 to other comparably run Intravenous Immune Globulin ("IVIG") trials, improvements
in clinical outcomes, the potential of RI-002 and Bivigam to provide meaningful clinical improvement for patients living with
Primary Immune Deficiency Disease ("PIDD"), our ability to market and promote Nabi-HB in the competitive environment
and to generate meaningful revenues, as well as to offer clinicians with an option for their immune compromised patients, market
data and incidence of infection, potential clinical trial initiations, potential investigational new product applications, BLAs,
expansion plans, our intellectual property position, including our expectations of the scope of patent protection with respect
to RI-002, or other future pipeline product candidates, the achievement of clinical and regulatory milestones, our manufacturing
capabilities, third-party contractor capabilities and strategy, our plans relating to manufacturing, supply and other collaborative
agreements, our estimates regarding expenses, capital requirements and needs for additional financing, possible or likely reimbursement
levels for our currently marketed products and if any, if and when RI-002 is approved for marketing, estimates regarding market
size, projected growth and sales for our existing products as well as our expectations of market acceptance of RI-002, future economic
conditions and performance, expectations for future capital requirements, commercialization efforts relating to our product candidates
and the runway and limitation of our available cash and our ability to identify alternative sources of cash or the enforceability
of our patent or its effectiveness in providing protection for any of our product candidates. Such forward-looking statements are
also subject to many risks and uncertainties, including without limitation, risks as to whether final and secondary data will be
accepted as encouraging, positive or will otherwise lead to an effective or approved product, whether we will be able to demonstrate
efficacy or gain necessary approvals to market and commercialize any product, whether the FDA will accept our data, continue to
recognize its previously reported guidance, grant a license, or approve RI-002 for marketing, whether we will meet or achieve any
of our clinical, regulatory or other milestones, whether we will develop any new products or expand existing ones, whether we will
receive FDA approval of any future plasma centers, whether there may be changes in regional and worldwide supply and demand for
source plasma, whether we will be able to attract sufficient donors and operate any new facilities effectively or profitably, whether
we can sell our plasma in the marketplace at prices that will lead to adequate amounts of revenue, whether we will be able to sustain
the listing of our common stock on the NASDAQ Capital Market, whether we will meet any timing targets we express, and other risks
and uncertainties as identified below. Forward-looking statements are subject to many risks and uncertainties 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 those risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission,
including our most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto. Therefore, 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. In light of the significant uncertainties inherent in the forward-looking statements included herein,
the inclusion of such information should not be regarded as a representation or warranty by ADMA or any other person that the objectives
and plans of ADMA will be achieved in any specified time frame, if at all. 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
Vice President and Chief Financial Officer |201-478-5552 | www.admabiologics.com
INVESTOR RELATIONS CONTACT: Jeremy Feffer
Managing Director, LifeSci Advisors, LLC | 917-749-1494 |