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After announcing it had priced an up-sized secondary offering of its shares at $3.50 per share, ADMA Biologics(NASDAQ: ADMA) shares tumbled 13.5% at 12:15 p.m. EST on Friday.
A commercial-stage biotech company, ADMA Biologics markets Bivigam and Asceniv, two plasma-derived, polyclonal, intravenous immune globulin (IVIG) products that won FDA approval in 2019. These products provide antibodies necessary to combat illness caused by bacteria and viruses in patients with primary humoral immunodeficiency (PI), a rare genetically caused immune disease.