Every material Form 8-K ADMA Biologics filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
ADMA Biologics disclosed that Bryant E. Fong resigned from its Board of Directors and all committees effective immediately, to devote more time to his outside roles. The filing states there were no disagreements with the company, and Mr. Fong had served on the board since 2012. The company also named committee replacements, which matters to shareholders because it changes who oversees audit and governance.
Bryant E. Fong resigned effective immediately on November 19, 2024, citing more time for outside roles at Biomark Capital Fund and Stonepine Capital Management
Mr. Fong had served on the board since 2012 and was Chairman of the Audit Committee
Young T. Kwon, PhD was appointed Audit Committee Chairman and designated an audit committee financial expert on November 19, 2024
Steven A. Elms joined the Audit Committee; Alison C. Finger joined the Governance and Nominations and Compensation Committees
ADMA Biologics reported third quarter 2024 revenue of $119.8 million, up 78% from a year earlier, and GAAP net income of $35.9 million, compared with $2.6 million in the prior-year quarter. The company raised its full-year 2024 and 2025 revenue, GAAP net income and Adjusted EBITDA guidance, and appointed KPMG LLP as its new independent auditor.
Q3 2024 revenue was $119.8 million versus $67.3 million in Q3 2023; corporate gross margin was 50% versus 37%.
Q3 2024 GAAP net income was $35.9 million, or $0.15 per diluted share, versus $2.6 million a year earlier.
FY 2024 revenue guidance rose to more than $415 million from more than $400 million; FY 2024 GAAP net income guidance rose to more than $120 million from $105 million.
KPMG LLP was engaged as the new independent registered public accounting firm effective November 7, 2024, succeeding CohnReznick.
ADMA Biologics reported second quarter 2024 total revenue of $107.2 million, up 78% from $60.1 million a year earlier, and GAAP net income of $32.1 million, compared with a net loss of $6.4 million in the second quarter of 2023. The company raised its full-year 2024 revenue guidance to more than $400 million from more than $355 million and its net income guidance to more than $105 million from $85 million. Revenue included a non-recurring $12.6 million increase tied to a change in estimate for U.S. Medicaid rebates.
Q2 2024 revenue of $107.2 million, up $47.1 million (about 78%) year over year, with the increase primarily from higher ASCENIV sales
Q2 2024 GAAP net income of $32.1 million, or $0.13 per diluted share, versus a net loss of $6.4 million in Q2 2023
FY 2024 revenue guidance raised to more than $400 million from more than $355 million; net income guidance raised to more than $105 million from $85 million
Corporate gross margin of 53.6% in Q2 2024, compared with 27.8% in Q2 2023; cash and cash equivalents of $88.2 million at June 30, 2024
ADMA Biologics promoted Brad Tade, its former vice president of financial operations, to chief financial officer and treasurer effective July 24, 2024. The company entered into an employment agreement with Mr. Tade, which sets a $435,000 base salary, a target bonus of 45% of salary, and equity grants of options and restricted stock units.
Brad Tade, age 51, joined ADMA in June 2023 as vice president, financial operations, and is now CFO and treasurer effective July 24, 2024
Base salary of $435,000 with a target annual cash bonus of 45% of base salary
Equity grant of an option to purchase 115,100 shares and 72,400 restricted stock units, vesting over four years
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every ADMA Biologics filing is on SEC EDGAR ↗. 8-K briefs of other companies →