ADMA Biologics rises on upbeat Q3 revenue; raises FY revenue forecast
10/11/2022 11:47
** Shares of biotech co ADMA Biologics Inc ADMA.O rise
9.3% to $2.7 before the bell
** Co reported a 98.7% rise in Q3 revenue to $41.1 mln, late
on Wednesday, beating analysts' expectations of $34.48 mln -
Refinitiv IBES
** ADMA's quarterly diluted loss was in line with analysts'
estimates of 8 cents per share
** Co says it is well-positioned in advancement towards
corporate profitability and now sees FY 2022 total revenue of
nearly $145 mln, raised from the prior forecast of $130 mln
** The infectious disease drug developer continues to
anticipate generating nearly $250 mln or more in revenue in
2024, and nearly $300 mln or more thereafter
** Its net loss decreased by nearly $2.8 mln to $14.9 mln vs
$17.7 mln in a year ago quarter
** ADMA up 75.2% YTD, as of last close
(Reporting by Pratik Jain)
((Pratik.Jain@thomsonreuters.com;))