ADMA - Why Adma Biologics Stock Crushed the Market on Friday
2023-11-17 18:29:00 ET
Adma Biologics (NASDAQ: ADMA) finished the trading week on a high note, with its shares racing more than 4% higher in price on Friday. Investors were happy about the specialty healthcare company's latest news about its growing network of plasma-collection facilities throughout the country. Adma stock's rise easily topped the slight (0.1%) increase of the S&P 500 index on the day.
Adma said that the U.S. Food and Drug Administration (FDA) approved the company's tenth Adma BioCenter facility. This one is located in the municipality of Laurel, Maryland.
While the complex was already up and running, having initiated human-source plasma collection in the first half of this year, it is now permitted to ship the substance from there to other locations outside of Maryland for further manufacturing.
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Why Adma Biologics Stock Crushed the Market on Friday