Full Press Release Details
Biologics Announces Preliminary Fourth Quarter and Full Year 2020 Revenues and Provides 2021 Strategic Outlook
Quarter 2020 Preliminary Unaudited Total Revenues of $13.9 Million, the Highest Revenue Quarter for the Company Since Inception
Preliminary Unaudited Total Revenues of $42.2 Million, a 44% Increase Over Full Year 2019
Multiple Value-Creating FDA Decisions
Across All Business Segments Anticipated in 2021 Are Expected to Enhance the Supply Chain, Increase Product Yields and Improve
Margins for Revenue Generating Products
RAMSEY, N.J. and BOCA RATON, Fla.,
January 19, 2021 -- 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 announced
its preliminary unaudited fourth quarter and full year 2020 revenues. The Company also provided commercial updates for its immune
globulin product portfolio, as well as introduced its 2021 strategic and operational outlook.
Fourth Quarter and Full Year 2020
"We are extremely pleased with
our preliminary record fourth quarter and full year 2020 revenue results. ADMA's continued execution through COVID-19 headwinds
is a testament to our organization's unwavering commitment to provide patients with products to ensure the continuity of
care. Our 2020 full year operating results, we believe, will ultimately unlock significant value for ADMA shareholders,"
said Adam Grossman, ADMA's President and Chief Executive Officer. "2021 is poised to be a transformative year for ADMA
as we continue to execute on our mission of providing specialty immune globulin products to patients and building a highly profitable,
end-to-end biologics manufacturing company."
Mr. Grossman continued, "Throughout
2021 and beyond, we anticipate delivering ongoing quarter-over-quarter revenue growth. We also anticipate realizing robust operating
efficiencies as early as mid-2021, pending United States Food and Drug Administration (FDA) decisions regarding ADMA's submissions
for its supply chain enhancement initiatives, most notably consisting of our Intravenous Immune Globulin (IVIG) production scale
increase and for our in-house aseptic fill-finish production line. Additionally, we expect to potentially obtain FDA approvals
in 2021 for two new plasma collection centers located in Knoxville and Maryville, TN as well as file Biologics License Applications
(BLAs) for an additional two plasma collection centers. COVID-19 notwithstanding, ADMA remained on track in 2020 and achieved all
its stated 2020 strategic and operating objectives. We anticipate 2021 will be another year of achieving value-creating milestones,
including executing on the ongoing production ramp up and inventory build to support annual revenue generation in excess of $250
million by 2024 which will provide for substantial profitability."
ADMA executed on all of its 2020
strategic objectives, including:
ADMA is focused on the following
key strategic priorities in 2021:
Fourth Quarter and Full Year 2020
Financial Results Conference Call
ADMA plans to host a conference call
and webcast to discuss its fourth quarter and full year 2020 financial results during the first quarter of 2021 in conjunction
with filing its Annual Report on Form 10-K, which is expected to be filed with the U.S. Securities and Exchange Commission in the
first quarter of 2021.
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 2020.
About ADMA Biologics, Inc. (ADMA)
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 related to certain aspects of its products and product candidates. For more information, please visit www.admabiologics.com.
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 "estimate,"
"project," "intend," "forecast," "target," "anticipate," "plan,"
"planning," "expect," "believe," "will," "should," "could,"
"would," "may," or, in each case, their negative, or words or expressions of similar meaning. These forward-looking
statements also include, but are not limited to, statements about ADMA's future results of operations; timing of revenue
and profitability; execution of corporate objectives and achievement of goals, including but not limited to, the Company's
key strategic priorities for 2021; receipt of future regulatory approvals; realization of shareholder value; and future appreciation
of the asset value of manufactured plasma and plasma collection centers. Actual events or results may differ materially from those
described in this document 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.
Director, Investor Relations and Corporate
Strategy | 201-478-5552 | sbloom@admabio.com
INVESTOR RELATIONS CONTACT:
Managing Director, Argot Partners | 212-600-1902