ADMA Biologics Highlights $510M+ 2025 Revenue, Raises 2027 Outlook at JPM Healthcare Conference

Core Insights - ADMA Biologics has provided strong revenue guidance for 2025, 2026, and 2027, with expectations of over $510 million in revenue for 2025, $635 million for 2026, and $775 million for 2027, alongside significant EBITDA projections [2][6][19] Financial Performance - For 2025, ADMA anticipates revenue exceeding $510 million, with EBITDA around $235 million and net income greater than $158 million [2] - The company expects fourth-quarter 2025 revenue to surpass $139 million, with EBITDA between $77 million and $78 million, and net income around $50 million [2][6] - Long-term projections include a target of $1.1 billion in revenue and approximately $700 million in EBITDA by 2029 [1][6] Product and Market Focus - ADMA's primary product, Asceniv, is a respiratory-focused immune globulin, with the company holding three FDA-approved commercial products [3][7] - The IVIG market is projected to grow from over $13 billion in 2024 to more than $30 billion by 2033, with ADMA capturing about 3% of the U.S. immunoglobulin market [8] - The total addressable market for Asceniv is estimated at 25,000 patients, with ADMA currently serving over 1,000 patients [8] Manufacturing and Supply Chain Developments - ADMA is divesting three plasma centers for approximately $12 million, which will help reduce operating costs by $13 million to $15 million [4][14] - The company has secured long-term supply contracts and expanded third-party plasma collection to over 280 centers, ensuring a steady supply of raw materials for Asceniv [4][15] - An FDA-approved yield enhancement strategy allows ADMA to produce 20% more finished goods per plasma unit, which is expected to improve margins starting in 2026 [5][11] Pipeline and Future Opportunities - ADMA plans to pursue a pediatric label expansion for Asceniv and is developing the SG01 program, which could represent a revenue opportunity of $300 million to $500 million if successful [19] - The SG01 program is not included in the 2029 revenue guidance but has an intellectual property runway through 2037 [4][19]