ADMA Biologics Inc. (ADMA) stock rose Thursday after the company reported better-than-expected third-quarter 2026 results.
CEO Adam Grossman said strong demand for ASCENIV drove earnings growth, while improving margins supported profitability.
ASCENIV revenue rose 31% year over year as more physicians adopted the treatment and patient demand increased. Grossman said demand remained strong into the fourth quarter.
The company also reported signs of stabilizing BIVIGAM demand despite pricing pressure from competitors.
ASCENIV Demand Drives Growth
During its earnings call, ADMA said ASCENIV continued to attract new patients and gain physician acceptance.
Grossman said ASCENIV remains in the early stages of reaching its potential market. He expects a long runway for growth as more doctors prescribe the treatment and new patients begin therapy.
Management sees further growth opportunities among patients with primary immunodeficiency. It also identified secondary immunodeficiency as a largely untapped market.
ADMA plans to present clinical data from 127 patients with complex primary immunodeficiency at the ACAAI Annual Conference in November.
The study compared outcomes during the 12 months before and after ASCENIV treatment. It found statistically significant reductions in infection-related hospitalizations, outpatient healthcare use, oral antibiotic use and corticosteroid use.
Most patients had previously received other immunoglobulin therapies.
BIVIGAM Faces Pricing Pressure
BIVIGAM generated $15.4 million in third-quarter revenue, down from $19.4 million in the previous quarter.
The decline reflected pricing pressure and aggressive competitor discounts.
However, management said underlying patient demand showed signs of stabilizing heading into the fourth quarter.
ADMA is focusing on protecting profit margins rather than offering steep discounts to gain market share.
AI Supports Drug Development
ADMA also advanced SG001, an experimental treatment for pneumococcal infections. The company estimates SG001 could generate $300 million to $500 million in annual revenue if it receives FDA approval.
The company used its artificial intelligence platform, ADMAlytics, to predict antibody levels from limited laboratory data.
Following feedback from the Food and Drug Administration in late October, ADMA is preparing an investigational new drug application to support future clinical trials.
Meanwhile, Cantor Fitzgerald maintained its Neutral rating on ADMA Biologics and raised its price forecast from $12 to $13.
ADMA Price Action: ADMA Biologics shares were up 23.33% at $12.92 at the time of publication on Thursday, according to market data.
