ADMA Biologics Inc. (ADMA) shares declined 11.28% in after-hours on Friday, September 3, 2021, and closed the weekly trading at $1.18. even in the regular trading on Friday, ADMA’s stock lost 1.48%. ADMA shares have fallen 40.36% over the last 12 months, and they have moved down 3.62% in the past week. Over the past three months, the stock has lost 24.43%, while over the past six months, it has slid down34.80%.
Let’s see is there any reason behind its negative performance on Friday?
ADMA participation in the upcoming investor conferences
ADMA Biologics, Inc will participate in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 9, 2021, at 12:30 p.m. ET. The company will be presented by its President and Chief Executive Officer, Adam Grossman.
Update about ADMA plasma collection facility
On August 16, 2021, ADMA Biologics, Inc received U.S. Food and Drug Administration (FDA) approval for its ADMA BioCenters plasma collection facility located in Maryville, Tennessee. This plasma collection facility commenced operations and initiated source plasma collection in the fourth quarter of 2020. With today’s approval, this facility is now FDA-licensed to collect and introduce into interstate commerce human source plasma for further manufacturing in the U.S.
ADMA recent financial results announcement
On August 11, 2021, ADMA Biologics, Inc reported financial results for its fiscal second quarter of 2021, which ended on June 30, 2021.
Q2 2021 financial highlights
- ADMA reported total revenue of $17.8 million in Q2 2021 compared to $7.8 million for the second quarter of 2020.
- Total operating expenses were $33.4 million in Q2 2021 compared to $25.0 million in Q2 2020.
- It suffered a net loss of $18.9 million, or $0.15 per basic and diluted share in Q2 2021, compared to a consolidated net loss of approximately $20.2 million, or $0.23 per basic and diluted share in Q2 2020.
- The company had cash and cash equivalents of approximately $42.4 million and accounts receivable of approximately $23.5 million on June 30, 2021, compared to cash and cash equivalents of approximately $75.8 million and accounts receivable of approximately $6.5 million as of June 30, 2020.
New Plasma Collection Center
On August 10, 2021, ADMA Biologics, Inc (ADMA) announced the commencement of operations and initiation of donor plasma collections at its newest ADMA BioCenters plasma collection facility located in Conyers, Georgia. The company also announced the implementation of the Haemonetics’ Persona® Plasma Collection Solution for the NexSys PCS across its plasma collection centre network.
Conclusion
Well, as of this writing, we have no reason to justify its loss on Friday. we hope that it will perform well on Tuesday after the long weekend.
