ADMA Biologics (ADMA) 12 Aug 212021 Q2 Earnings call transcript

Good afternoon, and welcome to ADMA Biologics Second Quarter 2021 Financial Results and Corporate Update Conference Call on Wednesday, August 11, 2021. At this time all participants lines are in a listen-only mode. There will be question and answer session will follow. Please be advised that this call is being recorded at the company's request. And will be available on the company's website approximately two hours following the end of the call. would Corporate introduce Strategy I Investor Bloom, time, and Relations at this like Skyler to Director, At ADMA Biologics. ahead. go Please

Welcome, and Brian Vice Financial Grossman, recent President joining Lenz, for updates. I'm ADMA Executive for thank Chief by afternoon corporate second Officer. and Adam today the XXXX discuss results Biologics Chief Executive us of President quarter and and joined to financial everyone, this you Officer; and

corporate introductory today's second then update, Adam a provide and During overview quarter company's results. and some will the comments an call, financial provide Brian provide will of XXXX

will and some questions. website opening Earlier Adam certain and achievements summarize quarter release updates. summary your up issued we remarks second a press second release our quarter Finally, before on then corporate is provide available today, detailing at recent for results the The financial call www.admabiologics.com. the brief XXXX

such materially factors, XXXX. the Before call that filings the detailed expectations Litigation we be constitute statements comments, provisions forward-looking of subject and assertions will formal from events, or of future for SEC, forward-looking during which forward-looking the Private remind under announcing the statements. harbor are Reform the by those we results with that Act which statements represent such the differ I'll you begin beliefs uncertainties results and actual as concerning in our to to release All purposes today's press our today's risks safe this company's in cause implied may call making Securities or intentions expressed

report by be as any update earnings federal to specifically any release securities notice this We date you the only views representing a subsequent like date. required XXXX, our cause to issued disclosure second statements. our now as over statements, our report call laws. on in I factors the to Form XX, Risk could views any important this of addition, In quarterly we our differ for section XXXX as of XX-K section represent the obligations annual turn on from such for and to Factors Form discussion as not our in that, would should upon Adam the results today With materially statements June except call to these refer of forward-looking We of the any disclaim Grossman. ended actual Adam? that relied forward-looking of XX-Q and quarter

foundation the pathway on successfully corporate now significant joining for excel safe. joining the revenue globulin continue to quarter-on-quarter more strength. Thank hope next coming well is you, phase the company The Good oriented goals from The portfolio growth its and periods of with our enter year to us thereafter. profit the date a strides and result, segments down the months. have immune globulin anticipated of stronger, form operating to the of product advancing We trends Skyler. today broadly, The thank for its and position as continued strategy as ADMA to for and of come. ADMA made of Vanrx the and fill/finish as winding of enable the with half be first commercial business today's us business company's our in value the continues the achievements precipice launch And the cannot commercial will afternoon, hyperimmune over and immunoglobulin will underlying healthy been initiatives our during over for be the remain The those multiyear never execution to operational to everyone, of call. up business leverage by and its you strategic profitability. machine remediation XXXX of on across aseptic remainder significant investment create our to stockholders organization on a approval ramp realizing totality the overstated.

exceeded the growth quarter fourth rate consecutive the for revenue second quarter compared line XXXX. revenues to top quarter, the XXX% XXXX generating of million forecasts ADMA analysts' of consensus of a $XX.X During representing second record quarterly

successfully over gross continue our quarters and believes Additionally, coming the and accelerate net narrowed year. company's trend A year XXXX. further losses throughout the in ADMA can

our impact While related favorable is launch it that ADMA's ADMA's and the quarter Further, headwinds these records phase. execution a liter continue nor new persona of software, the the reflect plan approval includes production second and in developments, expected efficiencies have approval highlight center, plasma plasma the expected operating recent financial over FDA several results XXXX added have record impacted revenue scale, to the not and pandemic quarters, its seen center expanded donor business collection Vanrx additional anticipated important and over the IDIG the results past to from implementing new do months. coming yet of opening benefits including the commercial

as XXXX of ultimate over act and support. of our manufacturing drug organization tailwinds remainder surface base just approvals able unprecedented business beyond. the significant through these way ADMA expect Said and and We biologic we value to potential asset adversity, for the this enhancements the scratch to is another financial is now to and beginning believe

way sold with of majority function. has critical comprehensive COVID-XX chain ADMA in manufacturers a its investment drug gross will cap Boca result And should into goods in Form we house financial The to the a Raton anticipated Vanrx term of both near cost When Florida end product greater context multiyear successful of compliance the the to net of supply FDA and will machine thus our set pave pharmaceutical an footprint that expect of Vanrx chain for results. among facility. pandemic control value high our supply And successful US continued coming no and and the recent over control pre-approval the both our large the establishment at the for process remediation in and approval supply is will chain losses the in milestones in We far they our achieved of operational XX chain and the and The observations uniquely believe GMP remediation a is of group manufacturing of profile longer the to improvements narrowing creation manufacturing and term. industry illuminated leading operations, support an based licensure this testament stage approved, fill/finish differentiates vulnerabilities mid-size ongoing peers. months. commitment personnel. inspection for part to end quality durable supply manufacturing finding as yields elite over initiative the manufacturing Propelling of achievement for importantly, and of aseptic continued XXXX ADMA's it regulatory, machine and

million headwinds on more In recent addition the manufacturing plasma liters, admirable to material contract months. second XXXX, as eight to ADMA's company's intend center priority establish throughout production peak Vanrx ADMA of plasma $XXX approval an investment inventories sources solid explore benefits technology has following wide ADMA collection raw three ahead. and likely remain pressuring for market biocenter and implementation One, supply. Most plasma of believe increasingly new broader XXX,XXX now collection to to additional by in to the and guidance approximately and add uninterrupted of from elements collection defined the these among facilities, anticipated validates to business communicate plant's market. and actively notably, bio fluctuations globulin half financial XXXX further achievements periods be or of a segment as beyond. pandemic. appropriate recently well company in ensure robust the restrictions policy date and revenue coming revising other quarter-over-quarter company's the updates XXXX supply presently contemplated ongoing Industry US [ph] half strategic approval overarching is of pertaining the the financial and machine at could annual intact the company's raw and plasma current revenue to end includes Ensuring results by the we year on immune by targets. stages plasma border enhance XXXX market expected X%. various We as yield capacity milestones centers peak opportunities, three developments yield throughout objectives the to pricing in $XXX ADMA largely commitment bio unit Mexico of material to revenue over which continuity the the our development. and of government constrained been Two, the XXXX plasma prior center track first can in these the of increasing and the ADMA of insulate the third for due a the to are for to continued COVID-XX supply human provide the to Accordingly, supply the expansion which collection collection focus centers foundation Collectively, plasma the centers party will of and our variables. US to achieved significant into contract million up second persona network, of to through extension quarter generate which growth three principal approximately supply our year end product across collection sustain network

growing into more. the revenue ADMA XXXX. more XXXX, to a XX% of revenues than total arguably and reached commercial has in rapidly track in as well threatened. line now sales, up million collection million continuity approximately critical us narrow, top and strong immune in at been than immunoglobulin is in we approved has FDA more losses to All by portfolio Less the later meet ADMA's ADMA annualizing established ADMA years As to beginning to billion year-over-year. XX quarter production on which its continue term approximately penetrate anticipate financial remains of of results more told be next with portfolio, and globulin several $XX hitting continuing highly reflective quarters we the immune well plasma to the With moment $X.X products market, commercial revenues when have immune its of globulin will launch looking time guidance than base more first on of to needs or the way undervalued facilities peak stride XXXX. profitability hyper in of a of $XXX million plasma company's a longer or forward or is with our operation asset supply believe foundation globulin no generating significant achieve $XXX what two or never

keeping company's to the believe these anticipated and profitability is in would regulatory Producing for all you commend to throughout revisit look guidance for biologics like counting. to forward focus continuing unfold. is its team current the we delivering and goal, may as opportunities many for year very And evaluation top our with the and targets meeting mentioned, complex ahead. a thank I we patients ADMA We constituents process previously as formally biologics progresses The to chain. the execute. more who supply the and the Additionally, events are top ongoing, communicating revenue line be of there periods

need. Additionally, financials. life stockholders efforts the sincerely support our provide grateful second Brian to review call their that to said, in our XXXX to a quarter I'd the products saving for now turn to for patients we With like over are continued of of to

Thank earlier the you, a of quarter Adam. XXXX I'll Since some second we financial highlights. release review our outlining today, issued just press results,

compared at compared plasma was For both million, $X.X XXXX. as to centers represents product continued $XX.X XXXX, the million, the up or the increase of our manufacturing quarter XXXX IDIG quarter second of second impacted quarter This of second for portfolio, for The base the of our quarter as of commercial XXX%. an by well XXXX, approximately in bio ramp revenue million the segment. growth segment, expanding and revenues our collection buyer $XX favorably customer of were total second to

meet inventories, end which which million, ADMA balance total of grew inventory. million approximately $XXX expects are growth its to the a recorded goods finished the our in includes source support continuing raw to be its anticipates including as plasma, as the comprised In ADMA materials, internal and goods commercial plasma as $XXX.X or of asset XXXX needs robust achieve fractions. ahead, inventories finished guidance expected in work purchase production, ADMA at revenue periods quarter center while as inventory consists materials balance process in longer as collection as network, well more. company's inventories. cost also base beyond, intermediate term Additionally, process to raw well materials, the inventories in building throughout and approximately to This growing quarter-over-quarter $XXX production used million well to revenue and and the of work products IDIG other of

supplier our Given constraints to over a ADMA our intend inventories emerging the believe previously we characterized, portion of as and reliable safety position ongoing stock, coming help partners retain solidify as to industry plasma will prescribers our a customers, which collection we as quarters. the growing distribution

million loss diluted compared XXXX. approximately XXXX to loss for quarter share quarter basic increased second the net primarily net for $X.XX The and this $XX.X the and being decrease this the a net loss was quarter loss the per million back $XX.X consolidated growth, to will attributable we of remarks. I diluted closing for $X.XX and revenues basic ahead. second of was continue or year-over-year Adam consolidated now of or that, Our With share, approximately per of improved in loss margins. to to trend over fourth call gross anticipate revenue turn consecutive With the periods in

XXXX to a XXXX. of had to annual positioned the next oriented a manufacturing approximately robust This caliber multi-decade to and will or In immune globulin Brian. we its of the chain. by of financial approximately anticipate in you, exiting $XX.X profit approval XXXX, term, two will Within rapidly so, enter what short revenue expected also US organization business annualized accelerate believe end doing million built years commercial control now phase rate established with year-to-date BIVIGAM ADMA and across we more. ASCENIV compete ADMA's opportunity. run well while reach enable growing Thank segments, in $XXX to the of following And ahead accomplishments period be is market. an in the market FDA billion company the high lifecycle successfully revenues end trends has

have prior and invested of intrinsic capital disconnect are in calls, valuation management acutely aware company. company's team as board current Additionally, a market cap. the into directors between value and we as significant of the And ADMA's in communicated appreciating the we

We are aligned with your stockholders.

for the maximize opportunities XXXX the thank including, for ADMA such, support. value, other you, We assets or to and collaboration of a or and businesses, As of or or sale we closing, to look example, co-development your future agreements, forward alternative bright our agreements business license considering or are stockholder In specific arrangements. strong for biologics. remainder stockholders to like I'd continued acquisition

to donate with mission to And and help our that, ADMA questions. lives. products investment good help helps neighbors. safe to efficacious, friends, plasma your advance like for I'd up in open lives, and your family As our save make save the that call Please now

our Instructions] comes first And [Operator from question from Petrone Anthony Jefferies.

now open. is Your line

this start million [ph] $XXX afternoon, I'm good going everyone. XQ year. Congratulations trunk on Thanks, here. the another to with target exiting

ASCENIV Just mix is if of what the Nabi there. in and wondering again,

So the question an here that'd agreements? thinking be future about CDMO of have be should on follow XXX,XXX the the in think then which we couple we of getting of eventually and operational you're first a potential about in disclosure the ups. on allocation CDMO arrangements. terms I'll to to capacity Boca, And When liters, plant

you're Thanks for in Anthony. kind staying words, Thanks, there safe hope York. Sure. New your up

time So to business. it's globulin great the a be in immune

that goods large flows and a you stay how and they're as new of segment collection competitors of right well know, They're taking of players, customers having with to mid-size that smaller talking about tightness now. through our the top on the product not this much I number think next Some time later competitors you the current from year. as We're events on able how at in not that the are and that anticipated are and substantial into early to country hearing take truly in US. there supply it are longer present sure countries under EU Europe, bring the supplied the I'm year, one finished

these is this of to that know, but of previously as selling majority distributing would achieving chain you the current than our revenue And very again be before. potential and that now, $XXX and we've said, outlook the rate much right and on and others, product regarding never the year, calls million we XX.XX your you the plant. mix pretty are out producing coming Again, question got strong. So in really we XX.XX, product later looks run and we about our for growth online we've this more the very, supply had being

the the size the ml We segment, utilization one growth earlier is are week to of on hyperimmune our product our back now Nabi welcome regarding press having in customers. this seeing certainly market, release and

very very excited haven't hope on we for gain a back and steady some there. we're And share very had new ASCENIV we And the solidify we've And got segment. at very, settings. proud feel in just So adding the market our J reimbursement taking we both code helped more are since and a to that products. to We product that and of the one are our pace, very, market is ml more while. distribution we're work acceptance really customers, network. in to outpatient people the and growing inpatient the treatment we're confident products has Again, available bolster the doing of we multiple

and through distributors all pulling are the it also selling new hospitals, we adding are through Home We and Organizations pharmacies, specialty time. Care

So really, us very things for from going a commercial standpoint. are well

I to think question a XXX,XXX going capacity. to to get around capacity. your liter little it's while up us take Again, was next the

You for know, And should And potentially XXXX. that year. us really coupled very four our that and year our three, so to capacity to supply there. more what contracts that's come going XXX,XXX press work respect segment. vertically collection to this online growth. revenues all yesterday previously accomplished take to question, Anthony. third generate XXXX your being it's that our or to say We're we market. we probably party do you way able we we years And to later currently agreements release reiterate generating within buyer the that going ADMA next expanding after say get Sure, forecasted answered in proud quarter-over-quarter or $XXX And that's anticipate really centers are And then new liter XXXX. going of, million you of Hopefully be more got. some the take objectives thereafter, continue revenue business you integrated with stated through we XXXX saw we're plasma strategic that profitability all QX financial with to is and

attributable little have to a color ‘XX, more And in XX% actually, now half to to as bit quarter negative margin. to And more saw mix sell really Sure. been could gross quarter the add that compared globulin gross numbers I a margin we immune revenue this of in first actually, hyper X% our of Anthony products. that's the cut negative a we

to a mentioned the a as shift, XX% that have globulins, is IDIG product starting XX% to have already XX%. to see mix our margin Globulins hyperimmune XX% standard margin So product. of a gross we previously and gross

We've seeing We've product our second market start this we've also received. trend. that And as increased started more expanded customer seen the again, products of have been of mix of quarter the result that's quarter, think that continue to that we're into hyperimmune well selling revenues. being a So customers we've that added, already more base. our in really going the and we in

ups process to the confirm exiting you're And helpful. be collection centers. getting that of is on for eight couple in would here just eight XX side, XXXX. of operational plasma follow reiterate just a centers. target I That's to one still The to want the

represented speak inventories, percent just going first we and again on you then the by be stock? you at quarter. be and Thanks will your congrats question. of thinking forward, be look would the what what as that secondly, inventory we of stock, safety the should So maybe to as mentioned safety again balances know, And you

liters being centers materials, plasma from approved, be Also, XX or XX the really we'd our like XXX,XXX centers various more standpoint, those okay. have our of in in may our centers all the chain of end raw are present, we to of more Two development. questions. to revenue liters of in centers not under FDA all FDA the majority umbrella, in regards want place collecting can be have by or supply have a centers or will from at plasma approved, XXXX XXXX to and plasma currently we to of do if centers. are take coming stages eight bring self-sufficient five a by corporate Sure, With I those

to you that our as ramp we've And million a really been Now, FDA half here, at up this second much production of million. how in how $XX much ending to quarter working to and the look in in we approval XXXX, the show the inventory. able to just testament And inventories, production, testament here April. to Boca, inventory, a increase have that's has our $XXX show of we approved is process processes continued the XXXX just close got by

think phase. a phase through is lot number to going working continue that XX final going and process A to into number go sign we the finished is So then production is lifecycle. grow, our of good phase, moves manufacturing seven filling whip number that because that the as that the which product whip to to month good of

So roughly, a roughly basis, of we've question, to if somewhere our to million, to XX% million $XX looking On $XX if estimate at million. can quarterly margin, say we quarterly answer basis somewhere since goods. margin million quarter between finished how they a blended at XX%. And and would a gross your cost million on we're, we to Anthony about it's $XX XXXX, have in $XX got around at you're of $XXX a much finished goods it

of well foundation these or XX% is in to So strong balance year-over-year a got our created our recently that again, We're inventory. we've At which thinking certainly on for $XXX sheet number. ourselves about up margin way, a published financials setting gross certainly million quarter. very a revenue our cost we've quarter-on-quarter, we're having for to achieve that growth, second beat testament on

Thanks, again.

Wilbur from James. Elliot our comes Thank Raymond question you. And next from

Your open. line is now

Good afternoon. Thanks.

Brian, for around your maybe inventory. just commentary up kind and cogs on following question of First

I see how second around cogs have revenue your questions line of quarter went you line, up top lot Is sequentially, would a when million, I about But just line guess look we're have top going incremental continue thinking $X.X margins. trying just increases. going Specifically to to progress as accelerate? kind figure this XX% start revenue $X to how to rate sales about trend in on negative always the to at margin sort the around exactly that of cogs average number forward XX% or forward? going incremental quarter, of how see to run as going million. going we out if think Basically, things seen of dollar progresses is cogs you're last that to the changes through

thanks for Elliott. Sure, the question,

with couple yet. the a we production much million not XX% production there run rate be $XXX get When capacity We're to essentially achieve a that will producing product So from things capacity at cogs. level. revenue to standpoint full certainly XXXX, in close that XXX% very to to

overhead So continue are manufacturing mentioned have costs scale importantly, we of most up unabsorbed currently but operations, in to the we up. I as scale product cost do as about revenue that the line XXXX still some

those As we additional liter, essentially going are continue revenues. generate to to produce more improved BIVIGAM more at be the more XXXX to margins products,

a additional liter the think cost, but you not overhead really main very is about raw modest a just XXXX going essentially the, of material, to same. the amount a variable is direct when labor, the batch So from XXXX small the

the liter be not XXXX that releasing we're batches to second going the previously, of put we past year, overall continue we just number got liter the half selling, the cogs the conformance April to timeframe hope we're distant now will again, too will see to in couple approval once margins take XXXX FDA we batches, this the So production, just liter simplistically, the outpacing seven improve because two, we half one, have next that a Number year. be year, there. revenues, in future. we're XXXX Number be this be months to to manufactured about it of hoping you the batches producing to second this will so And of batches thinking expect to months. lifecycle selling those the it ago, XX to of

going as this we're start quarter. some the efficiencies, those of seen previous So from quarter cost we've margin synergies, to realizing improvement

second to of of continue into the half We and expect the trends this year first those accelerating XXXX. certainly half

the possibility I using add take that the just both I that, it's I onetime in guide be of expenses. and of these off note unpredictable. complex complicated is in drug also analyst And these maybe they're there's think the and less things some occurrences to have Brian I something just but think one of if any biologics Elliott, with is can us hard not that always of you know, producing manufacturing, as and thing the and certainly think and the easiest that and said else But meaningful. to world. more, others, to continue could some charges And we effects one for I off discrepancies are produce comments,

down you in are know, that, improving mean, really truck to our are segment. are with chain, these some the there hyperimmune to growing. cetera, Brian's of I a things in business operating more there and pandemic our driver grand types continue don't going but there's now. but But are on as certain the et I increase think try across ethanol, material, no the the previously interesting is things. certainly expensive. here gross delivered on say I acceptance think need honestly, know, to unit you The get margin industries typically the you sell, the product. can supply an right have cogs offer to that our to unpredictable XX% going overall to to is Additionally, get an XX% they're there margins consumables, with truck to the of reported you revenues hyperimmune it reagents, just product you. disposables, call the it regarding we supply are other are be I testing, shipping supplies, to expect And come extra that of the drive we've point, we products mix I better issues driver, to raw those bio some costs, charges with one as to mean, $XXXX have very may chain manufacturing to that But time

the well, that be is on demand incremental mean, Adam, I there? the I more it marginally in factors Thanks, or increased steady to capacity overall Is is And been RSV that to if relatively media? what product, you IDIG question just a we've hearing been is ASCENIV, volume for speak you driving the can specifically in driving the demand any emergence a Nabi be increase constraint infections it similar question might can ask but about may historically, then or tied and there? there's

supply but not issues, hearing market. Sure, the with flows occurring about respect across you Again, not, I'm we're any never know competitors chain there. to our having what's [indiscernible] of

You got of in a taken across across that our and a very marketplace. announced got products our some price. got effect, feel think, know, we've going they've We've and there. I know next increases. our a to brand I portfolio immunoglobulin price competitive take week pretty the on that's in or immunoglobulin competitive price a the good pricing so, increase and price it's about good product, NABI, you out as we've we've there portfolio, a competitors some know recently got We name

as RSV plasma And of on States. the donors invested screen on, to high a RSV we from have of increased frankly, CDC maybe of also respiratory that the indicated I cannot that heightened. virus. other seeing neutralizing advance year hepatitis on are RSV what at put levels of The who to method there XX and some It infections RSV learned some viral is are other region working. seem antibodies awareness, money it. still we the of that our in the respect And down defies we normal other use the ago, from high hunkering customary certainly differentiates But and RSV, I drug. state have BIVIGAM of ever respiratory couple immunoglobulins to People people a marketing how and throughout United know, high is of donors. these we're but and levels they're some an the identify that to know, market some labeled patent programs factors awareness And, and quite patented You globulin to southeast of from global syncytial like for a season. my are career I've tested antibody donors ASCENIV what's alert. I months our for think, think. And spent and immune space. cohabitation you campaigns of pathogens. think With out ASCENIV, of with collect panel to least That the that in other explain everything is And, on rate is the typically guidelines I

good suffering I launch look chronic also in So, J and that think and I of you code website, our it lot a everything I investment again, see the an I know, here they the in that again, at, mean, about prepared investments mentioned look, do solidifying made, are we significant But Center patients persistent ADMA. to we've visit viral when one we're is, this infections, helps. mean, and bacterial getting website, therapy done, we've commercial virtual And through setting, remarks I on concurrent that reimbursement the return And the drugs be talk talked the drug team launch congresses, we the our receiving you think we've I we've may something other the that today made from at antibiotic you the a about. a commercial made teeth the is campaigns, Salesforce, into do things you my and there. media starting that both that when some investments outpatient of to mean, reimbursement on stellar, we've product, an I these from we of we've I And approach the into know, come think proud biologics, team, I commercial and our were face products. their ADMA pandemic easy. know, with the bringing a market they're to take just summer, I'm cut traveling, the and early let's off to reports opening accounts been to clinicians team and expense some built three and have you vaccinated now entire get late to their got expertise they're pounding commercial and been this engage and national of organization country team, And and a that a summer, first got past of the this where it It's flourish COVID, up pavement, pushed that, and I leading people the you hat stellar spring, coming think challenge things to were opened I'm the know, say, access they when things to through. we've the my our hasn't seeing when folks, support able been during me the they've up, to of here. resume face

reading the starting stemming sure that that but the see as well, see I we're mix and know, to beds some the think up all we're So chaos hospital to we're from I'm articles a is you hearing pandemic. of, closures, fill starting you are it's hospital

people. to what treat you globulin know compromised don't You infectious compromised vaccines. respond diseases to and immune well immune prevent patients certain Remember, immune is use typically or

So and influenza that's normal I are are that customary vaccine provide be of passive purpose all and that vaccine, the RSV is vaccines. trials infectious other ongoing, COVID are and pathogens. it there to vaccine we an the that mean, immune know globulin to the immunity

I it's So the I it's say all time globulin really in do be mean I and business. but a bad together immune think it, to not coming it,

continue to chain and really taking and the We on our them. And, customers. phone inbound supply we're receive it, of And, up follows new we're proud Salesforce cycle. with calls,

you with know, timeframe. You in eight, months' house. machine upcoming drugs. about gestating That's never these to a us to XX seven, potential long of nine, up make think like you how know, you're to improvements that baby. Vanrx and there's got And control faster takes than But going approval it anticipated speed the it taking really it the

most take you time the they a process. come little looking quicker, you're this but little a at they of can nine longer, months, Sometimes accelerate sometimes

obtaining appreciate team They're we shareholders people we there. with the is going we But think we've finished million I know, manufacturing to there, run supply. and to the to rate. I potential the confident XXXX. our this that out Brian, that as through secure revenue reimbursement be I only exit through it leading the the revised proceed where you utilization anticipate you feel year and amount and grow that our together. $XXX patience quarter, putting And this the goods can't is grow we of as into coming channel we plasma on So with mean, there. your pulling be we're product community that's more want bullish we you to the they're from we day, we an [ph]. here, supplier able really have got the our end out a And and got as that that are if charge we put And guidance standard build all provide continue know, excellent this going IG community to of the the market throughput patient advocacy to want to patient to the our know at commercial problem we've of available now and the

offering you're just that's to may, of little going while Thanks. does does is And talk in it of existing so allows limited XXX the can the one respect because it's just you that with when important terms market? last kind a when question. quantities at you But the franchise if strategically, rate presentation, available If you customers, Just about of you just run bit curious full mean I sort what franchise? do that have expand new just forward? open know doors preferred a ml, the offering in currently. with to business that growing to expanding know how in that I the

all first have. know, it's it's You our of something of competitors all,

been with We was lot X vial have was having XXs When and XXs. selling I ml I When you sell, IDIG. vials a than only or harder XX man to younger have size. a X a gram gram, was it commercial

dosed kg product weight. you body is typically about you it, If immune per at think of globulin know, the dose is XXX milligrams

a you're roughly to take XX adult, you kilogram grams is dose. XX XX a So talking

pharmacist So for vials vial, vials? rather you in preparing bag, hang it's or vials, hang typically, pharmacist care are of is homecare infusing the they a you're our looking transfer pull when And and Or the rather it and you're home individual infusion, three type hospitals will at a when or you I or into money you they is each the globulin you to pull seven the mean, pull a their are manufacturing organization worth they're this, like products, a would at patients labor really either factor hospital are also, a where customer, costs. things. infusion immune would look and know, customer three of our these look the time companies and that at place going

care especially valuable. to competitive, XXX hospitals helps organizations extremely So, us is more having be higher where the in the throughput, volume, specialty ml higher home and pharmacies, certainly vial time

commitment think offerings. improving our I available diversity the also of demonstrates and that to it our product quality,

know, You manufacturing and commercial these things business all does. are

you X bid think we I additional plan this ml So XX, sizes, in and XXX together, term for don't have short we available vial for when and is factor now. XXX vial the The to all plans ml ml vial. again, the both offer XX

conformance batches available as currently approval prior that Brian And those are FDA. those produced in the vials supplements submission approval that for for were the four for So mentioned, were sale. have, the we the from basis

accomplished all products exceeding multiple I in out three our years. mean, the stopper approved. the our a to the lot June with playing at will, a it you and we, if packaging know not point letter, four about I expectations. anniversary, to warning our see portfolio, makes on a from question things our a took the in over as I where build container you fast full coming quarter, Elliot, system XXX get that field was that a got anniversary, a was it it. place CSL plant place but I forward a new mean, we production think in X, there, line And second So the with XXX expansion just time to an And answer [indiscernible]. in year is same this We've finish think across we've and vial inspection, new was plasma FDA label customers center product commercial long that fourth where observations. to really to ADMA four size, completed that it's of sizes vial out your we've got and closure means puts pre-approval our I difference ml cap, it

there You BIVIGAM with need available, is Nabi-HB. I know, homecare should out hospital isn't is and a that player has there think grams don't biologics pharmacy ADMA they a them or that and a that aware company

Thank you. Adam.

call And And thank that, are additional with time, you. I'd like remark. turn gentlemen, to out the of Adam closing ladies for we back and currently

call Hope interesting everybody. again, that's you you. of team found listening. proud the Thanks, the Truly to ADMA

doing guys great a You job.

on this to our Let's support fellow the we keep and help continued investment allows our you and us that business in the counting helping appreciate us work shareholders are your know patients do your again, citizens. to great

evening. lives. into plasma, all help thanks we thanks safe And healthy save So dialing a wish and care. for the Take donate you call, again

the conference and call for today. participation this and disconnect. your Ladies does gentlemen, may conclude We appreciate you