ADMA Biologics (ADMA) 11 Nov 212021 Q3 Earnings call transcript

Good afternoon, and welcome to the ADMA Biologics Third Quarter 2021 Financial Results and Corporate Update Conference Call on Wednesday, November 10, 2021. [Operator Instructions]. Please be advised that this call is being recorded at the company's request and will be available on the company's website approximately 2 hours following the end of the call. At this time, I would like to introduce Skyler Bloom, Director of Investor Relations and Corporate Strategy at ADMA Biologics. Please go ahead.

you Financial us Quarter Results and Corporate thank discuss afternoon of and recent Biologics' ADMA for Updates. everyone, for this joining to XXXX Welcome, the Third Officer; Grossman, Chief and Officer. and Adam Vice Financial by today Lenz, Executive joined Chief I'm Executive and Brian President President

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

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

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

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

Skyler. you, joining remain you everyone, you call. on healthy hope afternoon, Thank and safe. Good and for thank We us today's

Third value growth which marks from XXXX continued ADMA and transformational expects the a quarter another creation. for new and period Biologics company establishes baseline

to million. During company's realized our grew generated $XX.X the quarter, we more first the we for business, our history. Even a profit key further, revenues inflection positive in XXX% year-over-year point time we than by for gross as

materialize increasing to operating results, approvals profits and pace an of FDA its BioCenters production and a our anticipate The to related improve periods beyond, facility, are to our scale, XXXX into which aseptic Boca multiyear our ahead. as manufacturing remediation in we both business coupled and for with Looking now the remainder as and efficiencies yield tailwinds at we beginning the receiving unit and begin machine investments the plasma gross net losses cost accelerating efforts Raton collection processes. for will operating and expanded of result the narrowing anticipate BIVIGAM fill/finish X,XXX-liter

unlock our Our targets organization to positioned through its is or and demonstrated we meet operational operating resilience, value well financial execution believe stockholders. and for has strength all and clearly and exceed

first million cash significantly took profitability, strengthened potentially historically overhang debt In our quarter the we measures our for of our to of position taken October, substantially creation we on there successful has long-standing lenders, weighed equity quarter, than value closing fully of the active with offering engagement the business When with believe underwritten proceeds. with fund the ADMA's gross to During an we valuation. in XXXX. and financing public is prospective address into consideration no that potential $XX.X later

to The excel, believe product At BioCenters. to of will FDA-approved be continuity segment on for this is ADMA facilities, globulin supply to year-end and level, Turning well company's XX track we we by positioned XXXX. continues immune portfolio. or commercial ensure to more drug the have

inventories in implementation for expansion center approximately operational well during of globulin we targets. the the From our company's raw to Persona are demands rapid reliable, will years With be by XXXX immune acquisitions is asset licensed recent at of industry the exceed the competing longer-term end fully realizing billion annual perspective, coming of growing in firmly and value addition goods the as from supply robust which quarter, the in technology, valuation further integrated, million enabled collection achieve supply. to we achieved A appreciate self-sufficiency near-term ADMA's establish collection market ADMA establish currently plasma source to U.S. yield third milestones at believe plasma of a and to sales plasma as growth capable ability The centers regulatory the $XX continues cGMP-compliant market. pace. of $XXX with outpace the an anticipated network, material company enhancements commercial, in successfully Haemonetics' finished vertically to the to revenue of the validates XXXX. manufacturer, rapid continues a

objectives, as to we continue upside reiterate for all to the of approaching. our fill/finish We majority and revenue behind result do The approval now of believe and is communicated a investments FDA and current our the potential substantial profitability well that note we into us. the financial pathway production to profitability Although capital strategic of previously operations. infrastructure are rapidly in-house defined targets

Brian turn that fair a been to of anticipates These us. review and I'd efforts, execution on ADMA commend quarter commands. committed XXXX that our ADMA base team the asset have focus commercial advisors. dedication entire of leadership patients now third extraordinary without yet realized unlocking know health financials. focused the value and like on to We could for staff, continued With the said, remains to U.S. their for to are accomplishments not improving forward, over the be call we who and Looking for now possible counting care the

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

For favorably $XX.X quarter $XX.X quarter XXX%. the quarter IG or of of continued ended commercial was compared revenue for intermediate September million for XXXX, product $XX.X total growth by ended XXXX, quarter fractions. the third million ADMA's approximately revenues September to the an portfolio the in September were of million XX, ended and of XXXX, XX, representing rollout XXXX increase The to the compared XX, increase impacted sale

pleased to for our in company's profit gross previous key products the generated the compared quarter's ADMA that first our milestone the extremely and achieved We product results. during report the of to to favorable time mix hyperimmune was quarter history, are the we attributable of during This quarter, encouraged where sold primarily financial XXXX. positive more third

hyperimmune than sales Our higher results. batches our a quarter, are immunoglobulin the coupled main have conformance this our products a for globulin portion drivers immune standard of margin this, product. from with And excellent

to we coming Importantly, continue the profits expect quarters. underlying to grow the in gross

received as X,XXX well fill/finish from in As efficiencies liter FDA our capabilities. kick approvals expanded as in-house scale, for the production both the

comprised of $XX.X an $XX.X end with quarter million and and on total company to inventories. revenue September materials, to ADMA million. earlier, an $XXX ADMA raw to quarter associated its million. XX, gross our public to after of plasma anticipated as significantly at expects expenses, subsequent center ultimately received quarter, raw and million, and thereafter. mentioned of are million IG value inventories, and or balance support goods closed including and deducting This receivable XXXX, At a more balance used third quarter-over-quarter approximately ADMA company run while ADMA approximately third periods. the expected Subsequent of XX, underwritten during the discounts of inventories inventories. $XX.X Adam and periods accounts as net offering the and of to strengthened growing sheet to the the in goods network, includes whereby the materials, fractions. offering, proceeds of the process commercial internal source cash and cash As products intermediate additionally inventories quarter million, ahead, cost plasma collection robust anticipates proceeds other finished annualized had million of its ADMA $XXX.X continuing its grew which of inventory ADMA's $XXX balance the rate work-in-process be end in materials well building XXXX purchase continued In October amounting growth also $XX.X equivalents production in consists fourth XXXX, finished recorded the underwriting work asset which

and a to reliable we very ongoing The the intend months position plasma million a as to The as X months In XX, for the collection September help consolidated the abilities expenses to inventories million market. increase being partners have our solidify expansion loss in portion distribution quarters. XXXX compared continuity center Whereby as over the $X.X primarily loss emerging we as net $XX.X control Given the to encouraged track customers, center our topline with growth our our gross growing continued on of the safety first industry we ensure product profit plasma retain time, of expense. are by as closing, reported interest we generating our well coming for the and XX, which prescribers ended and million constraints, believe supply will the to $XX.X the stock, in September supplier XXXX. for to ended revenue X increase expansion. was was plasma attributed net

positioned With our will the I to to Adam targets. We across and now call well that, reported all remarks. on closing deliver for segments over financial back are operating business previously turn

XXXX marketer as business The U.S. a ADMA immune Brian. market. end-to-end our you, turnkey positioned manufacturer robust the globulin across Thank accomplishments and segments, realized expanding of in and totality

quality the we focus, reiterate million during robustness revenue previously to quarter XXXX. an then of durable The and financial face realized for to the to extent, XXXX a all exceed the more external provided pathway and believe effects, and the improve approximate including or expectation of supply achieve FDA mentioned, and is, accomplishments flows on rate or and $XXX ADMA stellar large related the into we for life. of meet run deliver from As comprehensively our of to who de-risked individuals received In products significant challenges approvals is continued dedicated cash rely and fourth year. patients and to in targets, continues coming previously our team due annualized the survival COVID-XX its chain

public management and engaged we with forums to Morgan information optimizing have business have various for We report opportunities appointment of Stanley this to the stockholder Dr. unwavering we are look creating value maximizing Board, quarter, Morgan we highly formally forward commitment, with our to took we, the back and in Directors value. keeping as as us a with alternative stockholders. adviser, appropriate will assist during As And throughout stated of XXXX, and to strategic committed Further, the we and Board ongoing our required. recent with our Stanley as measures of team strengthen evaluation

commercial Young the believe evaluate and successfully navigate Kwon, we business immune us will and of globulin the alternative opportunities. landscape who contours help strategic effectively

brighter The to year-to-date of stockholders a and at unique courageous creating other brings been and to rapidly dedicated companies well we ADMA's a and believe public track biotech continues operating for and never continued we value of appreciate staff. perspective Young has ADMA's a base with asset and as insights. Board, The for our proven the of his as company, record added value future look result we the to ADMA's intrinsic to successes our to forward to as support helps continued I'd our forward lives with advance donate conclusion and call like a our thank In products high-quality, the that XXXX. in to for questions. for that, mission Please plasma closing, save stockholders, and efficacious milestones open and save successful and lives. now make look like ADMA we'd your you, safe achieved, neighbors. your help investment our help friends, up your family and to to And

[Operator Instructions].

Fitzgerald. of the Cantor from line comes question Kluska Kristen with first Our

good a gross on positive quarter this and achieving Congrats revenue profit.

facility collection last looks you plasma like since it added your umbrella. So under quarter, another

off the these that based centers beyond in running in approval, have will locations now what the for value for So to And and to many the criteria has those up addition how and centers, into setting be guidance specifically maximize having XX goal. more you. finding FDA of the what gone with centers maybe best up or specifically you XX with the drivers deciding of new

been course And Kristen, in XXXX. so the maybe our of thanks expanded question. by the we're really and We've team. XXXX much I over business. saying the I'll start just for dramatically proud that plasma mean, out we've BioCenters of collection

Brian, wrong, me. first was -- me excuse I'm XXXX, Our correct center approved, if XXXX

Correct.

XXXX. in was our center first So approved

So We've been doing a long it this lot than been these new long, something is a for products. us. we've time, making not longer

at this of have approximately of sauce certainly much that of centers a look you increase. country. we how now as plasma to we our think capacity secret positioning the respect plasma the So approval to capacity at pool we need, With we these Earlier across how year, X,XXX-liter look I our liters facility. for scale total XXX,XXX plasma And the is BIVIGAM annually. plant received the

approaching dramatic Brian XX,XXX the said improvement that plasma And far the as that liters the new typical Persona or to during more. if even always there's publicly, technology. we're between answers So it. and increases you'd XX,XXX, maybe as XX,XXX center, collect. Brian, there, of of hopefully made I levels, like that numbers even seeing yield made most some a remarks, that Haemonetics' we've in add of plasma as as to donor We're don't with prepared stuff know you pre-COVID the somewhere I've but XX% implementation seeing can well comments

Absolutely.

of plant our to We X we contribution our plasma to XXX,XXX-liter, that were own are X have to with And time of we the our local the competitor economy. collecting have a some under which XX collections. centers, centers year-end now -- translates So centers certainly plasma plasma. that our This that collecting at the umbrella, positive look FDA-approved year, collection really centers by want XXX,XXX-liter corporate stage plasma, we to and last internal X into had fill XXXX. currently be self-sufficiency landscape our plant sets

to and into approvals filings, BLA move some we towards we're the expecting So growth subsequent have very exponential year with then this this We're pleased filings additional back half over the year. XXXX. as of

during trends And some observed to questions to I pandemic. ask the wanted Okay. specifically related

an peers, the been their headwinds. noting the course, that for it fiscal So recently wasn't year if of one of increased your have growth for hosted would an despite IG these expected business, and for higher although, had example, noted R&D Day sales the pandemic, much

at that were trends you donation then social the you're place, measures pandemic. plasma I in since but do how also, think understand in the core what of there's right this with all of space And distancing centers? in So about observing still are we kind now pandemic? the improved has the the

throughout that start just the certainly pandemic. I'll by Maybe we experiencing COVID-XX growth out saying are

As new been on you very, see, really focused we've strongly very adding customers.

X/X, new than Brian, growing. you Our competitors product continue Kristen. to correct I'm say that more think they're around not of have inventory And have wrong, before, if inventory. quarter said, inventory ended the We million look the $XXX taking customers, I The X/X. is me we ever on at if X/X, we number, typically

work material, So raw process, in goods. finished

plasma have They of quarter slowing remain continued one third-party growth as got intact. know, our we've much supply historically. Grifols, us as difficulties there is this competitors' they're So ADMA's the to contractually you plasma main as material they is as continues suppliers. continue supply having to collecting as every support agreed. growth. our because to And

not we've experienced. geographic But that fractionators here. the you some larger and for part joining So pandemic. if keeping for collection folks and experienced we we the know our and With from COVID-XX said growing this story collections, always some prescribers us respect us that appreciate the wider, and had to ASCENIV our I with at of limited footprint the you're And the more the of pandemic. throughout on Grifols we've plasma downturns that patients. have a have will, and And doing the BIVIGAM impact market of

We have border no exposure.

starting a or changing XX our within of on force constraints miles number in and competitors a so XX, border. the centers have some of So number are U.S.-Mexico lot of be policies rules of There's a going with to there. that

scheduled, off So here we tanks the and base our customer coming reliable plasma supplier supply again, there. no be we're the it's line, we're constant. in exposure to remain And quarter-over-quarter. putting And grow to as have our a and to continue plasma continues and

VanRx with third-party adding potential looking more specifically plan of And Could long-term VanRx as might recent I is question you of the at? companies opportunities think company, we about you do here? the approval. discuss types line? what last guess, the be of see for the And utilization for and Okay. down the me you any

Great question. approval pharmaceutical-grade FDA Hopefully, got we've you up, I text was is better. got vaccines, pharmaceuticals, this fill/finish to But so biologics, products, guys stage can a hear hopefully, me. message an products. and/or I commercial that clinical breaking

a GMP-compliant working open for well fully really for We've out the So very is we're very, here, VanRx facility and got business. us.

handle it in X and sizes, we batch our products, XX to large again, we volume to own can can So sizes. fill ml small -- ml volumes vial fill

faster VanRx fit clinical manufacturers So to any much but make lot a get it's if do and fill/finish criteria, we commercial within aseptic vial other and/or provider do. trials you anything to that pretty that can The process stage. can additional sizes, the

excited the even certainly, still mean, use times, would processes about our on the liters and of of be annually, the some benefit driver for and compact the full would is cycle primary our the yield others. business. related production machine. It's XXX,XXX processed our pretty we're downtime for of opportunity machine opportunity. the that machine enhance there the the improve ultimate a gross to at improve I allow But us fill XXX,XXX, capacity margins. and So primary obviously, the to VanRx That's

that of assuming facility, the our space something machines behind the in. would potential. We certainly present that's we they're look fit us. we and the Sure, need into is at we significant demand the more time, if At well there can, expenditures most some capital future, the but that in have into plant could some arose, Kristen,

stockholders. our our building products, to hyperimmunes continuing laser-focused up our value the on story and tell we're force, So penetrating commercial our commercial really creating of with for drug

So less spending, more selling.

the Petrone of with Jefferies. Anthony comes question next from Our line

just the have I'll weeks one announcements, ago. on and one the on then a couple quarter of

the our million model. in $XX.X of ahead quarter, So certainly

have get Just a of third BIVIGAM in was of trying share BIVIGAM, a just maybe ASCENIV. it And existing new sites? to gains it follow-up. I'll the a us from sense infusion and changed between Was here what specific in give Or of mix sort the sense purchasing centers? then And quarter. to to excess just

quarter, we The Anthony. Thanks, our Sure. increased hyperimmunes. of saw utilization

patients. that, really margin. excited positive the we're conversations RSV that's prescribers. that the some are that about by the regions allowing the with us prescriber. that the gross certain influenza, advisory I And recent certainly with The think around we for alerts first represented use emergency and products CDC you recently their health in we probably some having are engage data geographic time COVID-XX and of And have hospitalized out I with use published think more ASCENIV and engagement to had hyperimmune compassionate the come regarding of the saw

to look I the our some that that into about. conversation opening XX-XX prescribers. we So in of I side, the we if this certainly Historically, world it's grow million, the and further. quarter having increasing our are that said see is an up really that conferences the million $XXX XX-XX, We opportunity XXXX this back think revenues you data we've we've think us with hyperimmunes, approach peak will. grow the talked for on $XXX for closer ASCENIV as even that XX-XX And we BIVIGAM at when medical forecasted certainly models think has the at future, as typically we

of proud really really to up, that open get we're community And starting our work starting to and to commercial see the off. is we're dedicated team take ASCENIV the the medical is able treaters. doing. to we're So and

the we're little distribution So some to of second centers, as a new pharmacies, part I opening your of infusion up offices partners. physicians mean, answer new specialty everything. alternate bit as site question, guess it's well new I new

we've need so, I the and we're collection a for that the is that think commercial of IG competitors. plasma strong. that to board. ADMA causing customers for And for the matter when they robust it that is remain to The The and our patients difficulties demand seeing there certainly across the XX it. really last demonstrated continues being months or So downturn and supplier the to for reliable we're product some

that in same So are it B I can -- they makes a work, we're speaks I a it's A to quantities getting you traction. product the but easier the think lot of lot pick the or don't that really saying customers easier that for product they're up starting gap. the certainly product we to when calling want not of Certainly, quality some us, itself. for fill say

we growth starting very ASCENIV into differentiation and that will that is prescribers really think continue and around I have with the pay the the I'm off, the engagement future. this to optimistic

And then just bit be the complexity sort looking of And breakeven you alternatives timing, and referencing that the with financing again, a follow-up of strategic your alternatives bridges referenced the in and solution could the remarks, alternatives. evaluating to it would on the side sounds Great. ago Maybe debt weeks it Adam, specifically, couple company prepared that, XXXX. just referenced variety the at. on filings little in of like certainly of you you're be a a a sort pre-announcement of

on disclosures. on details of bit little a good just Congrats those those commentary a and So quarter.

past Anthony. an VAI It's mean really very, of you website, differently. report listed at next a looking company. the August. don't status. Thank very our FDA respect into much, listed financing on year FDA final with a And Sure. it's as the inspection going I to have this recently yet, the we're budget so passed I but We copy

really we're where behind we're our well be that So at plant looking forward. compliance to are going inspection taking we've in of going capital this compliance. made about us. And second XXXX since investments we're looking spending the June in And over differently

are the results that look a starting taking tightening off. we're budget. and that the certainly quarter pay the So as see you We're made from we've at to belt investments can

and certainly asset with we lenders. is means engaged order debt with with flipping a investors balance have number growing, balance our our with business the are margin company inventory maximize of We as we And on base and growing of certainly in well said, is equity underlying potential to sheet gross revenue the as this opportunity. potential think that growing. We with So opportunity to an think makes lenders that results. do value with the the pleased that non-dilutive there's all the assets finance positive

So going And has comment to over to shareholder we in Morgan a I the value. great of specifically, number I'm This seeking the not to Stanley invested Brian but the along been engagement us board maximize think years. unlocking to commitment adviser with last and them and financing, opportunities deal. of illustrates members, I, our our a

we're our remain with and aligned the we that see in you FDA with that compliant, both on regulatory the opportunities can pleased I are the will side. we tell front We us. SEC of to shareholders. continue And extremely side

all in the business unfold, required. driving But So as selling Street keep it's will profitability. this and time, making meantime, the to all developments priced as the product company we products,

Our last from question with line James. the will of Wilbur Eli Raymond come

just couple from me Maybe a here.

quarter. a Just and gross to was that outlook impact assume, trying Is you'll continue be at respect how to with get sequentially revenues grow the simply fair positive of margin point, of gross margin? in it what that performance margin important the or to of just Brian, generate the for conformance sense batches able trends First, positive maintain going forward. this to sort for gross to to if ability

Elliot. Sure. Thank you,

extremely we being here. reported gross we're profits, time as So the mean imagine, stopping quarter That first doesn't you pleased. this with we're could

benefits that We we so, we have margin producing benefits roll we believe producing more middle FDA the -- received our even approval to be that significant will machine this then X,XXX now, additional once the of to received. gross are we out fill/finish as And going started be the cost of we derived. in batches continue year. And approval are

additional value and into to be and there'll of So will first unlocked. XXXX 'XX we quarter second quarter The beyond. of think the accelerate margins gross be

first for pleased the extremely XXXX. outlook very move certainly as we we're quarter into So forward

stock, in dynamics your the Okay. respect then the stock keep And your of expectations you're in of have commentary terms around what safety with to changed safety terms to going some given of in marketplace? levels, just

fourth into second in of 'XX us I just remaining available you'll quarter inventories raw in to process of were this million build think the goods stock to from in here million, XXXX propel XXXX see levels then the what the And translate published $XXX our into quarter looking at XX-Q, significantly. increased process third see year be here, be that annualized That going really year. to materials in rate safety to same. Most increasing Total will as $XXX million. work be We're finished remained million. and to work importantly that which and the half continue are to significantly are to? you million end momentarily of the the revenue run as we $XX finished to exit relatively that Raw to increased $XX $XX about flat translates of does XXXX the higher today. goods

we actually or just know from talk like. supply I Takeda to maybe recently costs, question increased last And logistics some about And of about on a dynamics commentary this issues facing highlighted costs, lot in seeing Maybe have respect volumes. with want may collection talked or quarter, BioCenters of also curtailing with then be costs? bit but costs. I or what increased because Okay. chain that Obviously, may a of companies it's ADMA in little you're logistics lot questions. that's terms faced collections you a challenges the the just of curious of and of final and maybe of know guess, set -- supply just respect notion that Obviously, chain reporting just regarding one ZIP-code of increased input but to I dependent, specifically hit to the collection cost on costs.

for Maybe was I question. start truck second mentioned, for becoming problem Elliot, it I I a just that drivers us. want I say, thanks think out. getting the to that can call was quarter

like supplies just purification we collection and this. you all supply are said comment. really inventories that There interesting was is us right, little right very tell we to team. straight, first, inconveniences the here testing working and single-use we and here And very there. a But certainly We've mitigate through Biologics we're reagents materials, number hard are the We from they call, of heard time. predicted on all fractionation, have the And use it way for these fill/finish. great But some large now. We're headaches. everywhere you've maybe ADMA that's of But people disposable an our got all the it Elliot. all centers raw a chain that

one, we've to taken and inventories. future containers waiting can number we're stocking that. things on mitigate two, or of because that coming Number control from in the afloat these by in foreseeable stuck not larger are business overseas. a deliveries costs for and ourselves we keeping steps ensure we're So And

and I So delays we're I've known to approve there. been there. and driver a difficulties mean, still experiencing here payment truck

move into early Brian, the thank everybody we They'll mean saw the and want that some else haven't on to that drugs and we're pricing We're for may Nabi-HB. sure, pay come Brian, continue opportunities think truck some earlier this increases put you to we and that received think, to on increase the we price type do facility. liquid evaluate market. certainly nature. I year, be we that collection that need we'll I And a the some letting carrying down our comment driver the of of this to day sleep that price us in. for -- we other we have numbers. little with on costs bit But here a little morning, to of the inflation And on to for seeing I field, things news you this as site took notices we'll respect mean yet. increase probably just working overnight. like potentially things I there. a

Sure.

behind the chain So supply Boca collection the costs, of FDA liter remediation just costs of spend before think as the result of FDA are a our what's the at the and is majority the capacity fill/finish as approvals enhancements plant well X,XXX very the as well expansion. I us from encouraging the

us. well are costs significant those So behind

incentive center predictive, center on controlled is dependent, more And more costs where the going are collections, our depending you throughput with ZIP-code the are week-over-week our pricing to competitors. forward. feel encouraged our We're month-over-month through competitive correct, center. donors very compared from and programs? We donor plasma think regards be additional I coming are to Are and higher fees running there the those. located collections Elliot. going plasma's certainly plasma with to It some

are And investments first us XXXX fourth uptrend. half the the again, very into on these things encouraged going of quarter, with behind the certainly, we feel especially all into now? So

Adam, mix. up discussion broke the well. could follow-up overall ASCENIV sorry, I'm to revenue response favorable bit little contribution more of commentary your a earlier as your some a question I if little around in in ask one and bit

we've couple perspective get seen trends RSV that's was of significant thought driven of for in is that bit overall boost more spike not to therapies a over better the sort IVIG -- Just a past you wanted you just think that of the by little in or months. in getting general, terms whether demand from or strong

could or I both be but also think Elliot. I of think something really those it's different, things, it one

the groups number patients and different with in the the that of we of academic all formulate COVID and unique socioeconomic that around Not sick immune-compromised just lifestyle may And are and the them that underlying and profile same that condition. methods the antibody patented medical I risk prescribers. open think novelty the donors, patients the that do Not these message the really see the plasma taking is not think hold from different factors. same the people standardize have severity to pool suffer at use product and hospitalized segments, plasma the prescribe the who is different has I all and institutions. of groups IG age with different a super treaters really eyes COVID of conditions in identify

the that replacement IG which our of Yes, using on has So special of that an produce truly it a is drug for deficiency, novel globulin. market. method identifying feel a in Yes, with plasma, an manufactured humoral it's patients invented unique we've sufficient but antibodies has of levels collecting we standardize and our in criteria. and product, I about primary of And significant the indication it's immune here donors the immune pathogens. resulting use viral publications. way this that you BLA. of when statistically in pool. antibodies to a read we the different patents targeted we levels levels to the product our make and it's plasma panel RSV respiratory And and The must meet The

So I think the is there. story

we've think really strongest we've been delivering the here position that that, we're we're in that patient, results And in. that the quarter, we this the everything think product we're a this I got promised And also right the think it results, a seeing you since it's and company identify Street I ever we good easier. able of you're I another on. in get it's And patient seeing, and patient patients that you product. product try results. a to it word-of-mouth patient using in on you're you're great another and Elliot, one once And these is what started

opportunity So it's for us. that I growth think a

spread out nowhere medical affairs force doing, medical works, I the other better, we I product The field we infections. medical at that the and a our conferences. its of on viral itself. published of an other but the using patients their you better improving enough for IG the and prescribers respiratory we're community the be that using data there, And can't RSV saw taking drug going better, hospitalized as they is IDWeek, commercial the near infection and when think for thank evidence-based speaks and They potential. to it way, gospel a do the team peak in well persistent to to really life. feel the our couple patients it's enjoying they're continue had proud of And seem and in we're they're chronic is and doing, the chance work at CIS, quality with product, are

So we're and we're proud into going The the here continue quarter-over-quarter. put the to to more market of to drug. stay. is We're drug available,

certainly, immunoglobulin is think I IG good -- products. I all look, I is use So overall But that ASCENIV ASCENIV think growth mean, for of unique and different.

here only I on is patients outpatient certain are we're really setting. believe facilitating, the routine I think that in what that IG for that the switching beginning. And therapy we're doing it's

to this champion to forward. So we're continue going

for to immune that this I -- don't compromise, an are the We patients be have a the founded for advocate voice. company

voice. competitor companies -- do. it's on hard don't it's need we I and it's that that it. about I commend really IG patients we're a we And here with keep for always I working think the all us to what here so mean, really we're And business. feel to market that really have immune good the the and like recurring proud doing of think who compromise recurring the all them. for loudest But our opportunity We're the work the for all product.

it's durable business. a So

period you So certainly still improve can of hope of their life business. out often, they I who but them durable guys some time, word weeks if every add, and hospital. if happy hear use know life. we to we patients to are can product X their have know to X keep ASCENIV that you we're me. of I rest anything for switch that quality I if These the but And don't a get for it's the of

Yes.

Elliot? we Did lose

Elliot?

the questions Maybe are we queue? lost in there Elliot. Operator,

call the will portion additional and to further are closing no the I'd our back of to question-and-answer remarks. conclude now questions. over call. for turn Ladies like gentlemen, this There Adam

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