ADMA Biologics (ADMA) 11 May 222022 Q1 Earnings call transcript

Good afternoon, and welcome to the ADMA Biologics First Quarter 2022 Financial Results and Corporate Update Conference Call on Wednesday, May 11, 2022. At this time, all participants are in a listen-only mode. [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 two hours following the end of the call. At this time, I like to introduce Skyler Bloom, Senior Director of Business Development and Corporate Strategy at ADMA Biologics. Please go ahead.

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

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

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

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

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

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

portfolio provided the million. to total we the first previously we for commercial expectations. continues revenue Our and ADMA’s target XX% has translates of operational and XXXX, and quarter, performance intravenous product revenues, compared internal the profitability. which first searches more, to strong increasing growth the upwardly execution in to growth million or basis $XX.X revised In quarter-over-quarter forecast of for the immunoglobulin exceeded start generated The from our to XXXX year towards million as total advance $XXX $XXX the target quarter

contribution initially successful driven that forecast not will awareness. From forward by commercial overall We ADMA’s second and expanding our a call, the product ADMA’s production for our product adoption medical revenue In and product of last us with to potential the rethink [canalizing] we margin growth higher favorably exceeding half [ph] which level our in a As campaigns, believe brands focused is ASCENIV of is XXXX ASCENIV during notably the internal highlighted products portfolio to expectations we mix. platform more XXXX. quarter did previously to nimble materializing significantly schedule now first the on increased XXXX, include ASCENIV our and education priorities increase messaging, to within us being response during and production our allowed timeframe. shift manufacturing demand, positioning, quarter’s are accelerated prior the the to first of at planned we batches than contribute previously half ASCENIV perspective, the believe

Biologics As the now within organization ASCENIV’s IG the the landscape patients. that of ADMA and synonymous we we our with feedback and commercial availability, market from are with providers, and name approach believe confidence trust physicians, third-year the

we believe by same of trends durable for and view as into note, demand upside increased throughout have existing will the as to breadth the growth sustain seen way within store May, expanded of which basis. is revenue add ASCENIV depth institutions believe well We April on product's a that being elevated Additionally forward. moving providers, the prove we driven ASCENIV both

encouraged early profitable we context drivers. and franchise valuable in which protection All we through the these believe the told, are by ASCENIV, is we particularly patent believe the extending mid-XXXX’s. with a of are sized in We stages significantly that building of

We expect world body about build of product's trends commercial ASCENIV news evolve. to real communicate experience to continues and as the evidence growth more and good

Turning the gain product penetrate and to growing to U.S. share in BIVIGAM, the continues immunoglobulin market. market

product revenue potential growth with BIVIGAM’s our pleased and execution. enthusiasm and ongoing peak specific intact. and unwavering are is increased We fully confidence in for Notwithstanding our ASCENIV,

throughout the ADMA have committed to continuity pandemic, As of we delivering care. the patient remains

license robust been construction. center three plasma centers quarter on-track in And Our to at basis to strong licensed. focus staff, $XXX could rapidly a contracts, and the and our RSV all XX revised Two without upwardly an execution self-sufficiency. substantial umbrella. various plasma position plasma. which support FDA of volumes, ADMA’s the These expanding FDA present, have are possible corporate are securing supply end advisors. by are plasma in We track well inventories the recorded under supply forecast all supply in segment, operational dedication collection normal we considerably year, which BioCenters organization's foot not At internal having anticipated our with in Five and our source third-party have of encouraged our is collection the donor BioCenters levels. plasma by across plasma centers of leadership, team total exceeding on as we next anticipate At inventories, centers stages plasma pre-pandemic end are now point the revenue are actively collection in included portfolio. remain collection our centers in network. collecting XX which accomplishments our centers we have are plasma ongoing collection million immunoglobulin present, supply the our us of additional This of first were at as result of

organization's shareholder over maximize our us. But the commitments your we collective prescribers, goals achieving now Our on established corporate Thank work I'd on like do, the the we are top focused of now via review remains other of made the vision Brian continuing operating of I'd call opportunities and these promises. for and to in company will mention to enable operating while review a The team a for admin believe debt strategy, on to operations resulting it and like an With for financials. ongoing achievements to our to healthcare who said, financial progressing stockholders I company. from quarter these counting priority first for during is In and end-to-end our to the realized quarter. entire you liquidity to and to to first moment, I turn is alternatives on its hard commend efforts strategic call quarter corporate execute the delivering our turn XXXX We have of patients, for that the Brian control patients remarkable improving before value. a and our to of dedication exploration like whom complete reality. and we that strategic improved the dedication in-depth position, the metrics to XXXX know Hayfin refinancing explore

which you, I'll Thank release the a today, Adam. first We key discuss financial now some of our issued highlights. outlining XXXX press results, earlier quarter

earlier, XX, million the first increase XXXX. As Adam by continued million, of ASCENIV And our for ended both quarter first of March $XX.X our or for commercial quarter The XXXX BIVIGAM. ramp the revenues of immune of $XX.X XXXX, revenue successes portfolio, XXXX, expansion product of to this compared base mentioned including favorably was represents were the the and of customer to compared approximately impacted the for quarter quarter million up first growth and globulin $XX the XX%. for total an

As a the previous to reported. full-year upwardly ADMA revised more early result its trends, or of XXXX revenue million the XXXX $XXX million guidance from for encouraging increased revenue growth $XXX

the of efficiencies, were partially operating XXXX, in approximately forecasted realized The certain of and XX%. facility to ADMA shutdown was positive scheduled the an routine during sales the Boca a supply margin quarter. complete which facility by by and Raton quarter of driven company gross first chain continued to later the product previously elected offset This extend projects the our for During extended at shutdown higher year. manufacturing margin otherwise

normalized gross first production margins with extended facility Excluding the the XX% XXXX in to a these been associated quarter have closer corporate would company costs quarter. estimates shutdown,

anticipate certain schedule As XXXX a and nature, upgrades progress will and these of the one-time production balance shutdown of in course facility's normal where on beyond. activities over the we

of net share consolidated ended this for Our March of three-year $X.X the XXXX loss a and the lower interest to Hayfin. million $XX.X period, or basic for or XX, This share. capital, was cost a compared XX, $XX quarter-ended non-dilutive net refinancing per for loss extension XXXX reported ended And $X.XX and March the provides the $X.XX was of debt for consolidated March million per extinguishment a net additional of non-recurring of capital. loss charge tranche diluted a available and million The includes to related basic the of the diluted refinancing XX, debt quarter an with only quarter for XXXX. borrowing

net with forward margin these process occurrences, quarters line of attributable ahead. charges we reflection not trends million are included expanding financial strategic first improving the progressing and quarter’s and non-operational Additionally, the a to first top in non-operational to we of pleased fees, trends. of loss, results. and to the ongoing bottom underlying business quarterly And look $X.X unique and review course in Accounting quarter’s on operating for are professional are the these related which the

to grow Specifically, we gross profits revenues to net continue losses expect narrow XXXX progresses. and as and

strengthened earlier, periods. mentioned have Adam significantly sheet our over balance recent As we

grew receivable total million of at million. already $XXX of as under the cash is Hayfin XXXX, total access to as including approximately XX, equivalents this of recorded non-dilutive the $XX achieved of have accounts a million, continued inventory, ADMA and Further, $XX March $XX of As notably of quarter cash growth Hayfin XXXX, company's funds first the discretion. during value second and revenue to execution from its of we cost, agreement the required asset $XXX and as the our million, well million credit our at result our additional milestone tranche realized resulting commercial approximately revenue

turning more briefly to second margin quarter would detail. Finally, call I in the anticipated Adam, back like discuss to over before dynamics

expects company enhancement FDA dating be as one-time underlying confident the versatile and to inventory to each considerable total realize for the build our the company, more months from shelf management providers. months in is well liquidity additional extension to million, the includes margin and non-recurring of Hayfin. the expansion, been best a which this allow networking which immediately of we million, I that, meaningful the to approval outsized in approximately of for Adam margin sales product. million, greater this second the will turn now accounts BIVIGAM of end to recent as quarter, ASCENIV, quarters. offering a first On result, the the million, this XX access than the will stands more in the already previously More expansion life back provide to XX cycle Longer-term, gross is the will current of should in call reserved to coming pro to strong at a recognition product's hand will funds remarks. company's tangibly, the the inception. position. With of months product it addition forma the an $XX over of we basis, improve of of company's benefit receivable on meaningful expected for $XX margin contribution since XX a BIVIGAM’s $XXX and quarter efficient, position a by anticipate are at ASCENIV’s XXXX to closing market life As capital favorable and non-dilutive extension has company as from This from of for cash Financially, the shelf continue approximately $XX for cash utilization go the for

in across you, Thank sync units. In well-positioned in in operating line believe departments go revenue firing forward is are best summary, significant We company leverage basis. doing generate business and Brian. And so, on a the periods. our systems anticipates top in all realizing coming to industry growth

helps us and and the upon generate further cycle, trends XXXX level, based still more product of Based solidifies gives current prove deficient margins the into these risk anticipate to of for your current and and well income advance milestones Stanley our we receivables, of with is million profit our million believe real assumptions, mind, make immune of net in our your $XXX outcomes high ADMA the margins. strategic tranche, revenue exploration potential reported XXXX, million the closing, to as quality and potentially help a save standing are narrowing we and that ASCENIV’s funding required with In will time million line upon growing the At and supply questions. provide $XXX $XX perspective, for I'd annual as and position and Thank you, XX% reiterate support above believe of XX% $XXX help we annually and improved and to thereafter. Connecting and Brian we for from that top an the for call safe gross as net like revenue to ongoing thank track to days provided and save efficacious million With our accounts during and progressing million on dots your that, sustainable, to investment Although conditions, believe achieved $XXX guidance. gross financial donate durable patients detailed, in mission to lives million XX% the we XX% have net are we plasma, And well-capitalized, early to assumptions company-wide in $XX achieving beyond. cash additional world with revenue access and family, neighbors. previously you, here, growth corporate now we'll $XX friends, problematic good income we confidence Morgan chain or experience market expectation and assumptions, ADMA continued the and outlook have continued products the XXXX the in this that up in an at this alternatives Please translate which our operator. enable others. will open stockholders the as period belief the respectively margin gross to credit which losses. From strength. and execution,

line Raymond our show I question go first from of from ahead. Elliot Please Instructions] [Operator Wilbur sir. comes the you, Thank James.

Yes, thank you.

terms an obviously we ongoing the out process, ends, X.X ask the strategic balance call end assume point review the likely tunnel progression I being or – of to to at had in accrual if understood short-dated And inventory? question in if reduction to additional the time, ones the to upfront to margin in is Brian. year-end, expenses Just out could it the through you there, inventory just the caught inventory? continue expenses the second of a with that dated I in think in frankly I previously then of the of I year? related that Not there. million walk the longer over light you quite Brian, dated couple these of shorter cessation you cost the curious could the to quick there sell can eventual just write-off the wasn't Just you potential this of of mean piece there? a maybe at some dynamics is factor contribution want quarter how but as sort expected should driving I for sure result just I subtle some just respect able about well, the trying favorable spending sure tease impact that through from a see for the

XX afternoon, XX the second for extension Good second begin Elliot. a already we your gross dating. FDA sold, the dynamics essentially To be of that of as shelf-life questions. that's quarter, margin going part with, that reserved the to the we've of Sure. that attributable for ASCENIV to Thank quarter product was in result for month months to

I us XXXX, sell gross allow the will we couple long month at a back recognize too was to and XX a second was, that now it margin for ago lots be lots not at mentioned, think revenues these and and a as in XXX% dating So, funded reserved the revenue that in be XXX% cash accretive significant already will to the sheet. I well quarter certainly and that balance immediately will to will marginal add of the

one-time of and granting admin were is recognized Yes. it from thought commercial and stable you product but on it dedication of Think now. having think team when FDA batches parity the same the of puts cooperation we BIVIGAM Elliot speaks and very but the approval And date proud market. certainly applying us whole I conformance second we and we're the way. the again much the IGs for they'll for remain FDA, maybe, this be we all the quarter, just The And is It the standpoint, who treat way the could thank approval, at products this in in the roughly a inventory. very of the ASCENIV, available of with us the proud to nature, the of to other great. we're continues for

it we a ASCENIV put margins, higher in that of products one further our margin To know at has Elliot, XX%. context

at the second for quarter, So, gross realized margin. will XXX% this product be

to review non-operational Your second quarter, question this as relates process the we first ongoing progressing strategic it charge. incurred about during the $X.X relates charge as a charge to we think and the as million it

the non a say progressing – a I process So, have that at as opportunities, expenses that certainly continue year. you're fees, accounting, when things the such types you going strategic are have you're it’s as And year. to but see to is legal, expect going the not core looking expenses about to we it's and think tax again, expense, to wouldn't of expenses the throughout we continue these throughout certainly not

focus I to add for just but those is to could I traction business focused Elliot. the great and and build overs recognize earlier, but as commencing continues second this myself. is we are towards the pathway business is in prepared were to truly gaining ASCENIV that to evolving. in thinking ability backs The heard truly in growing questions to our win don't we Brian, may Morgan remarks, what help just has be Certainly, a as we accelerated. we on maybe margin the can't are transformative walk about and spoke So, this never market, view, And the penetration; want profitability a process, BIVIGAM XXX% laser share you I really ASCENIV here, profitability totally IG Stanley quarter the is evolving that been clear. know to but is to the the take just certainly profitability. product subsequent In profitability, share, timelines on our

we So, process. with are progressing Stanley Morgan the

are that laser the this. are can same. are this. the on but we priority experiencing conclude on a are and take see, that same all that tell process. continue. guess It's the we don't know the on As We these The can you own. from market that timing looking expenses all you the we say spending Again you parties we we're tell of I these believe corporate to expenses we top a I processes and impact for to are this focused these experiencing should are, are going I their are buyers life

Our by end the year. of the hope is,

guess story And Adam Thanks. ASCENIV overall out been has sort didn't And is the are message? are strong think you the more product of terms mix. as question you the I world and PI go and spread guess then part of and be if I certain seeing more see can, subtypes position I last its the mean, within you that the or growing prescribe couple performance the ASCENIV communicate of and the of think as quarters how real back to basically, utilizing then the how the that your favorably or for is one message well. may And yourself to real way usage, you of feedback company. just use I this you does various I this word, IDIG you data more know, various world kind refining physician of helping would the utilization community in the areas patients, in as of where it overall utilization loop within marketing and makes positioned necessarily in of

of helping of the messaging how real sort ASCENIV? optimize you your wondering sort Just around world overall Thanks. utilization to, is

factors. question our medical with our for Elliot. and I first education continue Thanks of we It's commercial think combination the And foremost, messaging a in strategy.

their that national of the maybe clinicians, continue and been at the the again amongst across that on payers on shows, resonate data brands has We problems, I've dose colleagues. that to present friends country, calls starting tertiary presented had real to do. local grassroots conferences. and increase, that published on to I the doing And their and approach tried is and some think have have KOLs like particularly conferences again, IG. world all who've said better shows, patients our medical really are They’ve These the which out of in don't there they’ve product. experience Patients multiple are to switched

pool different, patents – less run the and then ASCENIV doing this are going antiviral staying well. the population. antibiotic use seeing I population. are in product. through you provides and patents They're this problematic we patients Again, of our use less XX in seeing tell finish. can patients on ultimately We're other patented. they're less I that infection. plasma seeing and the These mean We're types on and We're an senate select which differentiated And form plasma XX, by screen it's methods the a alternative. donors So, our is time

accounts, patients business designed IG there some think commercial This proud what's opening available And work what of our that and our sure, that we be really existing, quite the are I we're we're is what So, to to durable out it we're that into be translates targets. has This doing. but and to is upside was the alternative organization frankly an been new it that revised up revenue durable. seeing seeing put which hurdles, clinicians on have any first and do you IG, go I putting same through call they're therapy reimbursement second they then and line the the for to seeing one store they saying, well, you have and know the the outcomes, and what, on factors. comorbidities. they're have then similar similar and as they're going three, put they're and risk I'm getting reimbursement seeing, they is you're four, to an They and patients five

So, so candidly available. I also that's is that is seeing I we're that see think our works why quickly while supply a purposeful, something plant for while, drug that it that, people a acceleration in has I that building a was still this occurring the the my as the supplier. into comments, that here is is really is considered name space, IG and for and And “newcomer” itself been prepared believe durable ADMA ADMA think reliable

inventory see million. approximately is XXX our You

we've the that of of is the continuity to what driving they And this. really is their see ensure customers care Our and continuity can that got supply patients.

question. answers hopefully So, that your

our line comes from go question ahead. the I Kristen from you. Fitzgerald. Cantor Thank show Kluska Please next of

Hi, Kristen.

how has and bit a to you've brain last facility so and the company Good pick afternoon in wanted the on congrats this little and past in-light you valuing based the we've seen everybody. for pretty that and in changed about how highly year? sector more taking much this quarter. the that I strong everything of in the do just, inflation things itself, ask the but about think spoken estate and on the Boca, across machinery, I another Hi. Thanks just forecast real you're and space? questions know your

question. the for you thank Kristen, Well,

standpoint high. extremely I valuation think our visibility from remains a

financial centers performance were look at to our an When we core building plan also out as equipment, you balance our successfully on indicated that property ago, sheet now I continues with improve. think the plasma to Our regards XXX really translates short that a to accelerated growing at to of few basis, over just year, the $XXX our months million. end all million from sheet balance valuation, our

been support at and were $XXX a charge. it right really all as RSV, was we inventory $XX million charges, as of while there had the million, debt, words just revised two One couple that's really other the on raw thing up. normal cash earlier, clear favorable everybody, of non-recurring business couple as really to one-time non-operational largest ramp about, has from our of the really going forward, with our anticipate to be that a plasma losses net for Our to to sure I to to $X.X years we commercialization that's think things this plateauing net to upward cash level through source which the is in to mentioned continue and the wanted make guidance, burn use revenue inventory ongoing our – the a we to of about highly thing this loss, a as well say, decline of first million from And material think of other narrowing. which expect requirements. early dynamic It's with quarter discharge I single sized to our here

million X.X to, as that charges release, to non-cash fees, our margin taken certainly a which maintenance from all extended professional million, We charges of $XXX,XXX. mentioned, XX% narrowing and take non-recurring I margin, had related non-operational in And shutdown then quarter-over-quarter a loss we would is plant a services of from charges have meaningful that the have $XX about charges gross equates to and we net you non-operational improved standpoint. gross those factor if of saw And essentially which this gross press we the – year-over-year quarter margin. and one-time XX%

the beyond. remainder net we're over narrowing gross building committed So, losses to XXXX the profits, company and of

So, feel very forward. we confident going

And finish, thriving, may, how when long the think everything it’s, lot can on asset the very from I out do really up, Boca much estate inspections, but of it and here, this of our of a much going end-to-end at, our got proud revenue facilities I the we value is can we estate I passed how but real generate look with to cash generate, FDA emails control, can mean, you at how still really has well we all about it efficiency I working improvements to these this look and you, that facility? are but yield I we're getting keep with and staff my and me keep to we amaze properties know sale. to to look, got it's particular if Kristen, real I every continues seeing the feel more on I unlocking end-to-end just for Feel campus we've week, about approve, getting don't Boca, batches, continue, just prices comfortable we're mean we're think And everything I here. tell our improvements operation. important and

really why I think to here really mean, reiterated the XXXX, that's giving. we at upside our $XXX guidance the after about we million upside, that So, I look our previously there's more. And that forecast. or potential say provided We we guidance. very feel comfortable we we're think financial when that

nimble during swapping the and upside. ASCENIV you said batches. hit but I hitting very Brian good know ASCENIV demand We that is at same. are, we think we're like able our about to we say, presenting still our ASCENIV the promises. to Street milestones understand, that It's stockholders and feel We our of milestone. batches our I call track so regulatory, know is you record BIVIGAM analysts We like the looking for our out that here, were we're manufacturing hopefully our and – platform commercial a and keep very, we for growing, tremendous and what, to

margin revenue XX% perspective. As the lot plus where a product in Skyler [indiscernible] say, gross for our and perspective is a perspective higher margin but squeeze, and margin to the XX% ASCENIV to to likes portfolio a from BIVIGAM XX% XX% gross more same a juice it's are and margin

So, we're the here that that really amount we're asset the has the to that thinking forecast generate value upside can and presenting. of we cash

So, in-light proud the backdrop. question, long your to current answer of the work, very especially of but

in this can great. inventory maybe hone Okay, brought on And little on Brian, up. a you Thanks. point I that more bit

you noted [ph]. [plateau] So, nearing

are could nearing in be potential specific bit horizon little shorter-term profitability? if how So, about you this you guess to a the about think as I more

Sure.

can historically, looking to to At million goods the $XXX or million thinking we total do XX% So, the process. inventory, we inventory revenues. or right $XXX excess level of commercial $XXX at a we've million see, gross obviously you're excess more finished want through if margin, or have in once value clearly or we've you're what generate to can said $XXX of an gross or when million million a of WIP $XXX margins, in XX% you more and the gone about

$XXX really I that right million the the million but we inventory and go upward million. of very bit largest feel modestly balance to the from exceed quarter-to-quarter, single – as a guidance revised that a So, we've as million we've size. may revenue is built up revenue, look was time-to-time, confident We utilization cash $XXX use very said, that It to fluctuate to $XXX we little $XXX think the in well-funded to previously largest number. inventory maybe

enthusiasm past your early still color number ASCENIV? and of that being few days, in-light utilized wanted just ASCENIV, of with on comments just number quarters, to question about a you And your these very any seen if it's much that you're over could know average I seeing doses and you've more provide ask of thanks. Okay, the

a IG it's primary receive three we're deficient product. can and tell patients question, these seeing population, I they four Kristen, week, you that the and immune every great use to

duration no clinicians patients – necessarily We the question remain I We if the didn't that's mean, to therapy, the that internal they're therapy think their mean, second have our patients that a forecast. that's IGs This change entire I a year, I and is for therapy. answer – patient don't the our maybe year like that change on to calendar of asked maybe patients going but is on to doing of to forecast there's I therapy. to for existing well reason that is didn't forecast. a desire were earlier. ASCENIV keep an on If great a Elliott in on that to. change patient

are on patients immune we're three that patient, staying but These their in seeing of primary education receiving patients our I are marketing are every So, compromised. all again, months therapy durable our therapy is feel who we still the around and efforts, because focus think and that And IVIG. four are are proving really primary our to quarter-over-quarter. early, this these the as efforts immune medical now brand it's where which we again trends deficient

question And Thanks. ASCENIV. I'm something but you made before, you've it last ask asked Okay. I've here again in-light for it's the definitely me, going to of all around comments

this neutralizing measures even what from this light this additional to to the in of the of know high-demand, you RSV? plasma particular are that to antibody just take you great secure have at more looking sufficient the place feedback, levels of donors So,

extend question, question. saying, one should some great hey, will I And we if of a I that you're actually whether my vendors Microsoft that contract to our let's our It's message hell today across the quite contract. extend came yeah, time terms. Teams and whether asking That's of desk saying, I said, these I agree saw be

to team in development own ultimately cycle on So, neutralization we're donor parts third plasma one turnaround us from This building our to that contracts and that's in or donors our and to think going process, to centers. of their we identifying speak of extending help these us life donors everything investments Boca equipment vendors the is faster of from made doing way be and to We whether from capture bringing optimize to times party we're it RSV in-house. assay going one our campus. analytical scientific across here our of into allow my two

got Kristen, five we've know, and in got As centers that my centers are statements collecting. approved you today. statements, Brian’s seven We've

which on with plasma ADMA a donors I which antibody and to seeing couple I expectations. continuing own a approximately reiterating we're typical have problem got foot-traffic use from plasma shareholders the pool our to in ago, was collections entire and I We've X% plasma ASCENIV our titers for I think XX% from system plenty a the the a of we've throughout got, exceed that in as improvements pre-pandemic, to weeks has had mean, certainly are center Persona the we as never know to looking phone said, Haemonetics’ of some plasma. was for are well pandemic. we've the currently the to perspective, them, you yields

I should the and XXXX. Grifols agreement the has supply runs been the that for long our both these of to inception and really source donors through primary plasma, are normal by taking RSV supply product plasma. of reiterate contracts, to measures of our plasma since agreement be testing And for very bringing identification RSV our some collecting continue extending in-house, We that expedite we June company's source the which

is So, efficiently. our long-term got than got more under umbrella unit to very pleased there. we've I'm a We've BioCenters say ever centers business collection corporate very operating our And before. that

of collections We've Our of exceeding plenty targets proud budgetary are and or are our plenty, position. plenty plasma. of very we got really plasma within plasma,

questions. Awesome. taking for again Thanks the

Thank you so much.

will the remarks. it Thank conclude portion for to now you. question-and-answer to additional closing Ladies of and gentlemen, our call. I'd this turn back over like Adam

of Well, my team thank in support listening. like I'd Hang to in their team. you of all the hard you ADMA thank for today. work Biologics everybody continued for everyone for And dialing for and there. Thank to the

care making quality keep Let's good some batches. everybody. Take high

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