ADMA - Why Shares of ADMA Biologics Are Climbing Thursday
2023-08-10 14:31:53 ET
Shares of ADMA Biologics (NASDAQ: ADMA) were up more than 12% as of 2 p.m. ET on Thursday. The healthcare company reported second-quarter earnings on Wednesday, after the markets closed. The stock is up more than 17% this year and reached a 52-week high on Thursday.
ADMA makes plasma-derived biologics to treat infectious diseases and immune deficiencies. The company reported second-quarter revenue of $60.1 million, up 77% year over year. It also trimmed its losses by 74% over the same period last year, to $3.6 million.
The company also increased its yearly guidance. It now expects 2023 revenue of $240 million, up from an earlier forecast of $220 million. It also increased guidance for the next two years, saying it now expects at least $275 million and $325 million in annual revenue in 2024 and 2025, respectively. That compares to earlier forecasts of $250 million for 2024 and $300 million for 2025.
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Why Shares of ADMA Biologics Are Climbing Thursday