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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 13, 2025
ADMA BIOLOGICS, INC.
(Exact name of registrant as specified in its charter)

Delaware
001-36728
56-2590442
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

465 State Route 17, Ramsey, New Jersey
  
07446
(Address of principal executive offices)
  
(Zip Code)

Registrant’s telephone number, including area code: (201) 478-5552

 
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock
ADMA
Nasdaq Global Market

Item 7.01
Regulation FD.

ADMA Biologics, Inc., a Delaware corporation (the “Company”) hereby furnishes the Corporate Presentation the Company expects to present, in whole or in part, and possibly with modifications, from time to time in connection with presentations to potential investors, strategic partners, industry analysts and others. The Corporate Presentation is attached hereto as Exhibit 99.1 and is incorporated by reference herein, and is available under the “Company Information” tab in the “Investors” section of the Company’s website, located at www. admabiologics.com.

By filing this Current Report on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.

The information furnished pursuant to this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Exchange Act, unless the Company expressly sets forth in such future filings that such information is to be considered “filed” or incorporated by reference therein.

Item 9.01
Exhibits.

(d) Exhibits

 Exhibit No.
Description
   
ADMA Biologics, Inc. January 2025 Corporate Presentation.
104
Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

January 13, 2025
ADMA Biologics, Inc.



By:
/s/ Adam S. Grossman


Name:
Adam S. Grossman


Title:
President and Chief Executive Officer


Exhibit 99.1

 ADMA Biologics  Realizing the Potential of Specialty Biologicswith Groundbreaking Immunotechnology  January 2025  NASDAQ: ADMA  
 
 Forward-Looking Statements  This presentation contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. and its subsidiaries (collectively, “we,” “our” or the “Company”), including, without limitation, statements that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate,” “project,” “potential,” “possible,” “forecast,” “intend,” “target,” “anticipate,” “plan,” “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 also include, without limitation, our ability to manufacture ASCENIV and BIVIGAM on a commercial scale and further commercialize these products as a result of their approval by the U.S. Food and Drug Administration (the “FDA”) in 2019; our plans to develop, manufacture, market, launch and expand our own commercial infrastructure and commercialize our current products and future products; our plans to expand our pipeline with differentiated immune globulin product candidates in development (including SG-001) and estimated revenue potential for such product candidates; potential near and mid-term value creation through certain milestones; the possibility of expanding our product portfolio with additional specialty immune globulin products; product expansions into new fields of use, indications, target populations and product candidates, and the labeling or nature of any such approvals; our dependence upon our third-party and related party customers, suppliers and vendors and their compliance with applicable regulatory requirements; our ability to obtain adequate quantities of FDA-approved plasma with proper specifications; the likelihood and timing of FDA action with respect to any further filings by the Company; the expected financial, strategic and commercial benefits of our FDA-approved SA25 Workcell aseptic fill finish machine; the potential production yield enhancement and potential benefits, if approved; results of clinical development; the potential of specialty plasma-derived biologics to provide meaningful clinical improvement for patients living with Primary Immune Deficiency Disease (“PI”); expected market size growth in the U.S. immune globulin market; our ability to market and promote our products in the competitive environment and to generate meaningful revenues; our estimated revenue potential and related timing; certain revenue opportunities; future financial guidance; our estimated revenue growth relative to our competitors; our production capacity and yield and ability to increase such capacity and yield; our ability to increase market share and grow revenue through anticipated product launches as well as expected peak market share; estimated global supply and demand for plasma; our ability to ensure continuity of product supply; our estimates regarding EBITDA and Adjusted EBITDA; the estimated value of our Boca Raton manufacturing facility; potential clinical trial initiations; potential investigational new product applications, Biologics License Applications, and expansion plans; our intellectual property position and the defense thereof, including our expectations regarding the scope of patent protection with respect to our products or other future pipeline product candidates; the achievement of or expected timing of clinical and regulatory milestones; our manufacturing capabilities; third-party contractor capabilities and strategy; our manufacturing, supply and other collaborative agreements; potential contract manufacturing opportunities and sales of our immune globulin products; our estimates regarding expenses, capital requirements and needs for additional financing; possible or likely reimbursement levels for our currently marketed products and estimates regarding market size; projected growth and sales of our existing products as well as our expectations of market acceptance of BIVIGAM® and ASCENIV™; and future domestic and global economic conditions and performance. The forward-looking statements contained herein represent the Company’s estimates and assumptions only as of the date of this presentation, and the Company undertakes no duty or obligation to update or revise publicly any forward-looking statements contained in this presentation, except as otherwise required by the federal securities laws. 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 these forward-looking statements, including, but not limited to, the continued safety and efficacy of, and our ability to obtain and maintain regulatory approvals of, our current products, and the labeling or nature of any such approval, as well as our third-party Respiratory Syncytial Virus plasma agreements and their potential impact on our financial performance; regulatory processes and interpretations of final data of our products and product candidates; acceptability of any of our products for any purpose, by physicians, patients or payers; concurrence by the FDA with our conclusions and the satisfaction by us of its guidance relating to 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. 
 
 Who We Are  NASDAQ: ADMA  
 
 Who We Are: An Innovative Specialty Biologics Company   ADMA Biologics ian end-to-end commercial biopharmaceutical company committed to manufacturing, marketing and developing specialty biologics for the prevention and treatment of infectious diseases in the immune compromised and other patients at risk for infection   4  ADMA Biologics is an end-to-end, vertically integrated biopharma company leading the wayas a producer of specialty biologics  Three FDA-approved products:  Intellectual Property:  Patents and proven immunotechnology that has forged a new path forward in improving the lives of the immune-compromised and other patients at risk for infection  Providing for commercial durability through the mid/late 2030s and additional R&D pipeline opportunities  Contract manufacturing:  Full suite of CDMO and contract manufacturing capabilities (CMO). Partnering clinical-stage or commercial aseptic filling, packaging, (GMP) testing requirements  Optimized manufacturingprocesses:  Robust, sustainable, and controlled manufacturing process for producing our commercially available specialty biologics  Plasma collection network:  10 state-of-the-art FDA-licensed facilities dedicated to the collection of human plasma equipped with experienced clinicians and credentialed staff for plasma collection and donor care  Long-term, third-party supply contracts in place supporting revenue growth  Corporate HeadquartersRamsey, NJ  Manufacturing CampusBoca Raton, FL  ~700 Full Time Employees  ADMA BioCentersHeadquarters, Roswell, GA 
 
 Vertically Integrated U.S.-Based Manufacturing Supply Chain with Innovative Technology  Unique visibility of ~9-12+ months out given end-to-end production cycle  ADMA’s end-to-end manufacturing capabilities enable efficiency, visibility and a competitive advantage   MANUFACTURING & PRODUCTION  World-class facility for fractionation & purification of IGs  VIRAL INACTIVATION  ULTRA-FILTRATION  FINAL FORMULATION  CRYOPRECIPITATE  II+III PASTE / IG / IVIG  FRACTION IV  FRACTION V  PLASMA COLLECTION  ADMA BioCenters & long-term supply contracts provide stable source of plasma  SOURCE PLASMA FOR MANUFACTURING  DONORS  PLASMAPHERESIS  FDA REGS -60 DAY-HOLD  FILLING INTO VIALS   FINAL PACKAGING & LABELING  LOT # SERIALIZATION  90 DAYS FOR CERTAIN 3RD PARTY LAB RELEASE TESTS  ADMA IN-HOUSE  3RD PARTY LABS  FDA REVIEW OF EACH LOT  RELEASE &IN-PROCESS TESTING  FILLING & PACKAGING  In-house fill-finish capabilities following the approval of the VanRx SA25 workcell  Well-positioned infrastructure to support near and long-term revenue growth and ensure continuityof product supply into a supply-constrained U.S. immunoglobulin (IG) market  Vertically integrated and fully U.S.-based manufacturing supply chain  Among an elite group of U.S.-based biologic drug manufacturers  End-to-end controlof supply chain   In-HouseFill-Finish  Comprehensive in-housecontrol of critical manufacturingand testing functions  End-to-end control of supply chain from plasma collection through plasma fractionation, purification, fill-finish,testing and distribution  Among an elite group of U.S.-based biologic drug manufacturers with comprehensive in-house control of critical manufacturing and testing functions  Operating in cGMP compliance with validated methods   Successful implementation of supply chain enhancements largely de-risks production scale-up and growth outlook  Up to 600,000L (or ~2.4M grams of IG) annual plasma processing capacity  QC / Scientific Lab performs small-scale process development, assay development and validation and testing of raw materials  
 
 Vertical Integration: Plasma Collection Centers are Essentialto Ensure Raw Material Supply to Produce IG  10 FDA-Approved BioCenters in Maryland, Tennessee, Louisiana, North Carolina, South Carolina and Georgia  ADMA BioCenters collects hyperimmune & normal source plasma – allows for internal control of new R&D product opportunities  ADMA BioCenters Collection Network  Recently Executed 3rd Party Supply Contracts  Internal plasma collection capabilities coupled with 3rd party supply contracts support near and long-term revenuegrowth objectives  Internal & 3rd party supply visibility support all go-forward revenue growth targets   New 3rd party supply contracts successfully executed:agreements solidify high titer plasma supply through late 2030s and eliminate ASCENIV’s historic growth bottleneck  ADMA can now source high-titer plasma from ~250 3rd party collection centers  Supply availability supports ~$1bn potential annual revenue opportunity prior to 2030, with significant growth opportunities anticipated thereafter  ADMA’s proprietary screening assay provides for accelerated 3rd party plasma screening in-house  Plasma collection centers are essential to ensure raw material supply to produce IG  ~$1bn annual revenue opportunityprior to 2030 
 
 US IG Landscape  NASDAQ: ADMA  
 
 Fast Growing & Highest Margin Company in a Large and Expanding IG Market  Source:   (1) Source: Marketing Research Bureau, 2023 U.S. Fractionation Market Report, ADMA internal analysis  (2) Centers for Disease Control, National Institute of Health   In a 40-year study of 473 patients with PI on standard IVIG3,4  Despite Decades of IG use, ImprovedTherapies Still Needed  High Market Demand & Opportunity in The US IG Market1  Whitespace for ADMA’s Innovative IG Products Within the Broader Market1  Pi is a Significant Market Opportunity2  PI is a class of inherited genetic disorders that causes an individual to have a deficient or absent immune system due to either a lack of necessary antibodiesor a failure of these antibodies to function properly  Estimated prevalence of 1:1,200 in the U.S., or approximately 250,000 people(2)   NIH estimates 500,000 undiagnosed PI patientsin the U.S.  Over 450 genetic defects are responsible for PI  Patients typically receive monthly outpatient infusions of IVIG therapy  Without this exogenous antibody immune support, these patients would be susceptible to a wide variety of infectious diseases  70%1Of immunoglobulin brands requireprior authorization & prescribers arefamiliar with approval process  (3) The broad spectrum of lung diseases in primary antibody deficiencies. Eur Respir Rev. 2018.  (4) Morbidity and mortality in common variable immune deficiency over 4 decades.  ‘15-23CAGR 12%  ‘23-30CAGR 7%  2015  2023  2030  ADMA2%  Large Potential & Whitespace  BPL / Kedrion5%  Octapharma14%  Grifols22%  CSL25%  Takeda32%  ASCENIV AND BIVIGAM ARE BOTH INDICATED FOR THE TREATMENT OF PI   Developedbronchiectasis6  Experienced recurrentrespiratory tract infection5  Developed chroniclung disease6  Significant unmet need exists in PI patientsrefractory to standard IG that continue toexperience recurrent respiratory infectionand chronic lung disease  (5) The lung in primary immunodeficiencies: New concepts in infection and inflammation. Front Immunol. 2018.  (6) . Subclinical infection and dosing in primary immunodeficiencies. Clin Exp Immunol. 2014. 
 
 ASCENIVTM – ADMA’s Unique IG Offering  THE PRODUCTION OF ASCENIV  ONLY IG PRODUCT MANUFACTURED USING PATENTED DONOR SCREENINGAND PLASMA POOLING METHODS (1)  IN A 1-YEAR STUDY OF PATIENTS WITH PI,  ASCENIV reported zero serious bacterial infections (SBIs)*   *SBIs were defined as a rate of <1.0 cases of bacterial pneumonia, bacteremia/septicemia, osteomyelitis/septic arthritis, visceral abscess and bacterial meningitis per person-year. PPPY = per patient per year.  Compelling real-world evidence is driving ASCENIV growth in the complex PI patient population  Indicated for the treatment of patients with primary immunodeficiency (PI)  ADMA has successfully defined appropriate use for ASCENIV by characterizing complex PI patient risk-profiles  ADMA has positioned ASCENIV as a later-line therapy   ASCENIV real world outcomes are driving favorable payer coverage in appropriate PI patients  1. ADMA Biologics patents issued 9,107,906 – 9,714,283 – 9,815,886   2. ASCENIV Prescribing Information, ADMA Biologics, 2019  Plasma pool is derived from a minimum of 1,000 unique donors and blends normal source plasma with RSV plasma   Manufactured through a patented process using source plasma, which is acquired from donors screened using a microneutralization assay to detect and identify which donors possess naturally occurring neutralizing antibody titers to respiratory syncytial virus (RSV)  Plasma collected from U.S. FDA-licensed plasma collection centers   Meets potency requirements for 21CFR640  ASCENIV: FDA-Approved Protection Against Serious Infections  Proven Efficacy in Treating Patients with PI(2)   One patient from the study group was hospitalized because of a postoperative local wound infection from elective surgery  24 out of 59 patients (41%) had a total of 54 unscheduled medical visits due to infections  23 patients (39%) had a total of 93 missed days of work/school/activity due to infections out of a total of 21,535 patient days (<0.5%)  37 patients (63%) used antibiotics due to infection (includes therapeutic use)  hospitalizations due to infection  missed days of work/school/activity PPPY due to infection  unscheduled medical visits PPPY  days of antibiotic use PPPY  Patients and physicians can count on ASCENIV to reduce infection-related quality-of-life impact 
 
 ASCENIVTM – Making a Positive Difference for Patients with PI  We do what we do because patients are counting on us  1. ADMA Biologics patents issued 9,107,906 – 9,714,283 – 9,815,886   2. ASCENIV Prescribing Information, ADMA Biologics, 2019  Compelling Real-World Patient Testimonials  Testimonial Highlight: Kyler’s Story  “I'm so grateful that I have ASCENIV in my corner”  MEET LISA MARIE, 55-year-old nurse, married with a blended family of 5 children, living with a rare blood vessel disease in addition to PI  “Before ASCENIV, I kind of just existed”  MEET REGINA, 50-year-old elementary math tutor, married with 3 children, one of whom also has PI  “With ASCENIV, I’m looking forward to just being a kid”  MEET KYLER, 17-year-old student, passionate about sports photography and an enthusiastic lacrosse player  “Thanks to ASCENIV, I got my life back”  MEET LYNNE, 65-year-old caregiver, married with 2 children, who works with people who have developmental disabilities  “Thanks to ASCENIV, the old me is coming back“  MEET SHERRY, 51-year-old nurse, married with a daughterin college  “With ASCENIV, I’m looking forward to just being a kid”  MEET KYLER, 17-year-old student, passionate about sports photography and an enthusiastic lacrosse player  MY STORY  I was diagnosed with PI as a baby and hospitalized very often with recurrent infections.  Growing up, I missed a lot of school because I was sick all the time and had to stay home. I wasn’t able to hang out with friends or play sports like other kids my age. It felt like I had to stop doing everything.   MY PI DIAGNOSIS  While I was on other immunoglobulin treatments for PI, I was still getting infections. I was still sick almost every day to the point where we were going to doctors twice a week to try to figure out what was going on. I was spiraling; I went from a multi-sport athlete to a full-time patient. I switched to ASCENIV when I got to a point where nothing else was working.  MY EXPERIENCE WITH ASCENIV  Since starting ASCENIV, I am back to playing all my favorite sports again. For the first time, I can attend lacrosse practice with my team after a full school day; I used to have trouble just getting through classes. It really changed my outlook for the future.  
 
 (TAM): Total Adressable Market ~10% (25k patients)  250,000+ Diagnosed PI Patients & Growing  High Demand & Growth Opportunity for ASCENIV Within the Broader IG Market  Patients with recurrent, breakthroughinfections on standard IG therapy cycle through multiple lines of products  A sub-set of PI patients suffer from complex co-morbidities  Uncontrolled patients are regularly unable to conduct daily activities  Frequent doctor office visits and hospitalizations  Clinicians and patients need an additional therapeutic intervention with a tailored composition for underserved high-risk immunodeficient patients  Significant upside potential with incremental penetration into the complex PI patient TAM   (1) Source: ADMA Company Estimates  High Demand for ASCENIVin a Sizable, Refractive TAM  Market Penetration  Total Prevalence: NIH Estimates 500k Diagnosed and Undiagnosed PI Patients in the U.S.  Levels of severity and risk differ across the PI population  Clinicians and patients need an alternative therapeutic intervention for underserved high-risk immunodeficient patients  To date ADMA has penetrated ~3% ofits 25,000 patient TAM(1)  
 
 Established distribution network and channel partners comprehensively cover targeted call-points and sites of care  Distribution channel is well defined  Inpatients – hospital based  Outpatients – infusion center / physician office / homecare  Established distribution partners handle cold-chain products efficiently   Have existing product serialization tracking systems  ADMA’s product portfolio offerings have overlapping prescriber call points  Clinical immunologists  Infectious diseases  Critical care & emergency medicine  HOSPITALPHARMACY  TIER ONEINSTITUTIONS  Independent infusion centers  Home care companies  Independent GPOs  EMERGENCY MEDICINE  INFECTIOUS DISEASE  CLINICAL IMMUNOLOGY  HEMATOLOGY/ONCOLOGY  ADMA’s Innovative Commercial Model  Commercial Infrastructure in Place to Support Growth  ADMA has comprehensive engagement among the ~300-400 specialists that serve the target patient population including key opinion leaders  ~35-person commercial team(1)  Call points & end-markets are consolidated and uniquelynon-promotionally sensitive  Significant  Opportunities for Value Creation  Significant, identified growth opportunities by way of both increased depth & expanded breadth of prescriber coverage  Commercial organization is scaled & able to carry additional products   (1) FTEs in commercial segment including MSLs and field personnel 
 
 Upside & Growth Opportunities  NASDAQ: ADMA  
 
 Regulatory filing successfully submitted to the FDA; potential mid-2025 approval  Demonstrated ability at the commercial production scale to potentially realize ~20% additional IG production yields from same quantities of starting plasma  Significant upside potential from production yield enhancement, if approved  Outsized EBITDA contribution margins on incremental sales from enhanced yield finished goods, if approved  Production Yield Enhancement: Significant Upside Potential   Transformative increases to revenue and earnings growth outlooks with the potential approval of ADMA’s innovative yield enhancement process  Yield Enhancement  FDA submissioncomplete; potentialmid-2025 approval  ~20% additional IG production yields from same quantities of starting plasma  Significant upside potential from production yield enhancement  Outsized EBITDAcontributionmargins on incrementalsale, if approved  ADMA’s nimble manufacturing footprint allows for rapid implementation 
 
 SG-001: Potential Upside Through New Product Pipeline Program   Issued IP for commercial product to screen hyperimmunedonors, tailor compositions and form plasma pools. IP protectionthrough 2035  Attractive new product and label expansion opportunities for specialty IGs targeting patient populations with high unmet need   SG-001, our lead hyperimmune pipeline program targeting S. pneumoniae infections is covered by a patent estate extending into 2037  Issued IP provides for the exploration of additional hyperimmune globulins with potential utility across a range of respiratory infectious diseases  Potential Hyperimmune Globulin Pipeline Expansion  ADMA’s Patented Immunotechnology  Screen and identify high-titer RSV plasma donors  Hyperimmune donors with sufficient antibodies to select pathogens are identified  Tailoredcompositions   Tailored plasma poolsare derived from a unique blend of normal source plasma and plasma obtained from the selected donors  Proprietarytesting   A proprietary microneutralization assay quantitatively measures titer levels of neutralizing RSV antibodies in plasma donor samples  New Product Pipeline & Label Expansion  Lead Pipeline Program:   SG-001, S. pneumonia IG  ASCENIV Pediatric  Capital Efficient R&D Engine Supporting New Product Opportunities  Attractive new product and label expansion opportunities for specialty IGs targeting patient populations with high unmet needs  Conducting an R&D program involving development of a S. pneumoniae hyperimmune globulin  Issued S. pneumoniae IP provides branded exclusivity through 2037+   Leading cause of community-acquired pneumonia in the U.S., with ~1M adults developing pneumococcal pneumonia annually  400,000 hospitalizations and a5-7% mortality rate  $300-500mm  Annual revenue potential  All pediatric patients successfully completed PMC study and the clinical trial database has been locked  sBLA to be submitted over the coming quarters – label expanding FDA-Approval potentially in the first half of 2026  Opportunity to further strengthen ADMA’s commercial product offering 
 
 Senior Leadership  NASDAQ: ADMA  
 
 Experienced Management Team and Board of Directors  NAME  SELECTED CURRENT OR PAST AFFILIATIONS  Dr. Jerrold GrossmanFounder & Vice Chairman  Lawrence GuiheenDirector  Steven ElmsChairman  Young Kwon, Ph.D.Director  Alison FingerDirector  Kaitlin KestenbergCOO & SVP Compliance  Brad TadeCFO & Treasurer   Adam GrossmanFounder, President, CEO & Director  Eduardo Rene SalasDirector 
 
 Financials  NASDAQ: ADMA  
 
 Rapidly growing revenue and earnings growth, with uniquely durable asset base   $1B+ annual revenue opportunityprior to 2030  2025 forecasted Adjusted EBITDA margins of ~45%  Significant ongoing margin expansion anticipated to 2030 and thereafter  ~45% adj. EBITDA Margin  ~50% adj. EBITDA Margin  Revenue  Adj. EBITDA  Net Income  2025 Guidance  2026 Guidance  Forecasted Financial Guidance  Annual Revenue Potential Prior to 2030  Rapid Revenue and Earnings Growth Trajectory  HIGHLIGHTS  Significant revenue and earnings growth outlook 
 
 Financial Overview  Financial Overview  Three Months Ended   September 30, 2024   Three Months Ended   September 30, 2023  Revenues  $119.8M  $67.3M  Gross Profit  $59.7M  $24.7M  Adjusted EBITDA(1)  $45.4M  $12.7M  Net Income  $35.9M  $2.6M  Cash and cash equivalents  $86.7M  $74.2M  Total assets   $390.6M  $349.0M  Total liabilities  $158.7M  $197.6M  Total stockholders' equity  $231.9M  $151.4M  Weighted Avg. Diluted Common Shares Outstanding  244.8M  233.8M  (1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, please see the Company’s earnings releases and SEC filings, as well as a reconciliation in the appendix   Preliminary Unaudited Est. Total Revenue For FY 2024   Total Cash on Hand YE 2024  ~$425M  $100M+ 
 
 Appendix - Non-GAAP Reconciliation   (1) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, please see the Company’s earnings releases and SEC filings, as well as a reconciliation in the appendix   (In US Millions)  3Q24  2Q24  1Q24  4Q23  3Q23  2Q23  1Q23   GAAP Net Income (Loss)  $35.90   $32.10   $17.80   ($17.60)  $2.60   ($6.40)  ($6.80)   Loss on extinguishment of debt  $26.20   IT systems disruption  $2.80      Adjusted Net Income (Loss)  $35.90   $32.10   $17.80   $8.50   $2.60   ($3.60)  ($6.80)   Depreciation   $1.90  $1.90  $1.90  $1.90  $1.90  $1.90  $1.90   Amortization  $0.00   $0.10   $0.20   $0.20   $0.20   $0.20   $0.20    Income Taxes  $0.80   $3.80   $0.60   $0.00   $0.00   $0.00   $0.00    Interest expense (Income)  $3.50   $3.80   $3.80   $6.20   $6.40   $6.30   $6.10    EBITDA  $42.20   $41.70   $24.30   ($9.30)  $11.10   $2.00   $1.40    Stock-based compensation  $3.20   $2.90   $2.10   $1.70   $1.70   $1.60   $1.10    IT systems disruption  $2.80   Loss on extinguishment of debt  $26.20   Adjusted EBITDA(1)  $45.40   $44.50   $26.40   $18.60   $12.70   $6.40   $2.50  
 
 ADMA Investment Highlights  Source:   (1) Source: ADMA Company Estimates; Refractive; comorbid immunocompromised PI patients.  SMART: Structural Demand, Manufacturing Optimizations, Advanced Tech, Raw Material Supply, Top-Tier Growth Outlook  Top-tier revenue and earnings growth, unique asset durability, vertically integratedbiopharma company driving innovation in the specialty biologics market  Clear Path to $1bn+ Ann. Revenue Opp. Prior to 2030 & Top Tier Earnings Growth Outlook  Underpinned by drivers with realistic & highly achievable assumptions. Significant ongoing margin expansion to 2030 and thereafter  Optimized cGMP  Robust, sustainable, and controlledmanufacturing process  Integrated Collection & Production  State-of-the-art production capabilities and long-term raw material plasma supply to reach revenue potential  Structural Demand in Large IG Market  Significant whitespace in ADMA’s TAM comprised of severe immune compromised PI patient population(1)  Highly Durable & Significant Longevity  Strong IP, significant natural barriers (reg., production timelines, capital investments) & no known generic/biosimilar risks provide for durability into late 2030’s & beyond