ADMA - Why Adma Biologics Was Trouncing the Market Today
2023-11-09 16:25:06 ET
Adma Biologics (NASDAQ: ADMA) stock experienced a nice pop in Thursday's trading session, after the company unveiled its latest set of quarterly earnings after market hours the previous day. Happy investors were trading the shares up by almost 5% late in the session.
Adma, which focuses on developing and marketing plasma-derived biologics, published third-quarter results showing that its total revenue topped $67 million. That represented a very chunky 64% year-over-year increase.
Better, the specialty pharmaceutical company flipped to a net income of just under $2.57 million, or $0.10 per share, from the third-quarter 2022 loss of almost $4.9 million. This was the first quarter of headline profitability.
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Why Adma Biologics Was Trouncing the Market Today