ADMA stock rocketed Monday after the Food and Drug Administration approved its new immunoglobulin production process.
ADMA Biologics makes three products that start out as donated plasma. From the plasma donations, ADMA extracts immunoglobulin, or antibodies, capable of blocking specific viruses. Its products infuse people with primary immunodeficiency with the virus-blocking antibodies their own bodies can't make.
The new production process will increase the output of immunoglobulin by 20% from the same starting plasma volume, ADMA said in a news release. The company expects this to accelerate its revenue and earnings trajectory beginning later this year.
ADMA says the new yield process will benefit its products Bivigam and Asceniv. Bivigam is an array of antibodies found in a healthy immune system. Asceniv is ADMA's cocktail of antibodies that can take on respiratory syncytial virus, or RSV. RSV causes coldlike symptoms in most people, but it can be especially serious in babies and older adults.
On today's stock market, ADMA stock rocketed 12.1% to 24.51. Shares rank first on the IBD 50 list of elite growth stocks.
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