ADMA Biologics (ADMA) 8 Nov 232023 Q3 Earnings call transcript

Good afternoon, and welcome to the ADMA Biologics Third Quarter 2023 Financial Results and Corporate Update Conference Call on Wednesday, November 8, 2023. [Operator Instructions] There will be a question-and-answer session to 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 2 hours following the end of the call.At this time, I would like to introduce Skyler Bloom, Head of Business Development and Corporate Strategy at ADMA Biologics. Please go ahead.

Welcome, everyone, and thank you for joining us this afternoon to discuss ADMA Biologics' financial results for the third quarter of 2023 and recent corporate updates. I'm joined today by Adam Grossman, President and Chief Executive Officer; and Brian Lenz, Executive Vice President, Chief Financial Officer and General Manager of ADMA BioCenters.

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

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

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

materially for Factors you of the We XX-K XX, securities issued federal refer call as disclosure Report as as obligation statements to Risk laws. the of release be not We a including call Form addition, as any our adjusted the as differ the well turn XX-Q third for December disclaim measures, actual these the as Adam? Annual any ended date. views note specifically financial in ended our that financial would on In on Report of of this our factors our section our non-GAAP update on required measures today's forward-looking any reconciliation statements comparable includes to September views discussion represent of the call results we upon XXXX, release.With Please important our and the that of XX, Grossman. now representing to the to earnings cause notice forward-looking from by Adam statements. to only non-GAAP XXXX, I EBITDA. certain except should available date for A relied any nearest today discussion could that, year and the such quarter Quarterly the metric is over XXXX to subsequent GAAP Form section in like earnings

you,  Thank and Skyler, welcome, everyone.

XX% first growth me profitable the the present steady financial with to GAAP it impressive Total a our year-over-year. to for net We pleasure This income reached pleased representing a increase both million. in the with XX% ADMA's rapid of revenues for third we unwavering great are commitment firsts today continuity rate results quarter-over-quarter $XX.X gives to to quarter $X.X in the underscore patient quarter of our quarter. time of Furthermore, $XX.X an third enabled care million, million EBITDA during strong XXXX, for that third announce which history, adjusted growth stockholders. reaching and execution number financial are

time first judiciously organization will top-tier the corporate trajectory focus relentless our milestone million a anticipate we've revised periods Building during and more to through the the These for the during anticipate XXXX. these revenue on years respectively. in this maintaining for we've total quarter. for fiscal to flow drive guidance revenues higher growth continue $XXX future. growth cash our are positive expenses.We of We free our generating $XXX million, million, of yet million, year; than momentum earnings established totaling $XXX XXXX positive testament generated revenue efficiency now again on and the history, foreseeable this while fully also We $XX.X results managing

business the is population of portfolio, significant initiatives. model, a quarter, segment, solid In fastest-growing specialization in primary all-time targeted market continues medical provider our innovative remain board. immune a line at-risk billion immunoglobulin a We success U.S. leading ASCENIV demand result end ASCENIV diverse niche the to market and immune education, the and patient carving marketing, product the access $XX company's globulin third in marketplace inroads. our of Our in in with metrics the across treating deficient make deficient within hit highs immune the patients.Specifically, later direct

anticipate persistence starts existing highlighted as year where encouraging, ASCENIV's prescriber with growth Conference, seeing is patients compound therapy. are and Equally ADMA we'll experts. offerings symposium institutions. and our was and on through X progress The record product We among new ASCENIV patient a their national expanding, value clinical and trends proposition certain sponsored third promising we base further XXXX the prescribers International the at IDWeek of Annual adherence

discussed All the we The to product's see the therapy total experience, drug's continue to the opinion and in continuing demonstrating First the infections the market lack healthy unresponsive approach this RVIs attribution impact on are and we Jolan of the and corporate who introduced initiatives. infections risk growth intravenous profile globulin are setting. a real-world cases. need, patients here managing managed severity an standard where ASCENIV effectively recurrent Dr. unique heightened infectious with that activities or favorably planned. some in evolving to was XX% presented we her All highlighted emphasized these viral catalyze us is as Dr. respiratory rethink resonate demand we ASCENIV's accelerating focusing levels increased She unique believe that Walter patients, setting. in leaders clinical shared RVI immune management. innings with in with and touched titer to immunoglobulin antibody mortality growth respiratory Baluch, to in up Aliyah case compromised approach, the RVI against Dr. Walter Baluch And emerging in leading unmet a product early size potential.Turning practice Dr. encouraged on therapies.Additionally, own compromised to the XXXX-XXXX to respiratory told, therapy were real-world our further immune immune continually management progress of ASCENIV, diseases reiterate ultimate the opportunity. trends among clinical standard to to of pathogens.

yielding the expanded We have capacity. the ASCENIV's margin scale, X,XXX liter successfully production manufacturing to product's enhancing

late realize to in profitability beginning and in quarter more materially benefits expect fourth these We XXXX. the

Additionally, expansion product clinical our with label and age if strengthening pediatric our group, may portfolio. well a potential progressing are lead studies further post-marketing successful, to

yields and analysis. earnings would will believe build successful, excitement see Our scale to manufacturing processes conducting impact substantially in quarter, potential. enhanced increased transformative as the we strides scaling significant increase revenues bench runs laboratory goods be output, and production finished potential initiatives.During continues ultimately providing third we enhancement in and the of ADMA's peak yield If we up our our which made immunoglobulin

opportunities top important these potential financial offers While impact for bottom note won't overemphasize have benefits both that the enthusiasm cannot promising a XXXX, until on lines. and opportunity to the this we it's our

supply are the in to our ability for plasma front, On immunoglobulin confident portfolio. production meet the we increased our forecast

it's plasma exceptional dedication staff provide members. expansion result addition by by in collection flexibility growing supply year-end. XXth this Reflecting ADMA's become secured all our hard contractually X licensure immunoglobulin unwavering direct journey, the XX collection product operational with work evident with for contracts us network in of a and to collection our needed year, final of licensed, our already and is meet self-sufficiency expected that network success supply the by are centers achieving the FDA portfolio.Currently, third-party anticipate with to BioCenters end our Our and the end-market center demand ADMA's we FDA also for on our exhibited

It's this each commitment, to and a to make is create to a depend remarkable workplace for relentless profitable rapid We control now a efforts, the which Our the We also dedication with triumphs your Brian propels appreciate member the greater team our of organization's I'd financials. commercial in solid us the a our for from now compliant quarter truly of not that believe for is on meaningful end-to-end success spirit table. those and diligence positioned the biotech like controlled review vision. but teamwork even highly accomplishments passion, clinical-stage to empowers exceptional. chain complete company with lives that alignment has and lays this foundation impact groundwork maintain advancement transformation turn only virtual brings one in Thank now core of the that an over for the trajectory. the you that Brian? in call drive to operations cGMP future.With third said, our collective us.It our the who supply

third encourage Thank highlights we'll We and will now release some outlining issued today and you, be also read Adam. our would of quarter comments discussion conjunction to XX-Q key results, press we in third today's you our from a discuss earlier call. the I'll afternoon, the during third points we make financial which quarter. XXXX our later this with issuing quarter

ended of $XX.X providing XXXX, profit during ASCENIV of period Gross million XX, our $XX.X facility earlier, payer represents were driven quarter was by physician, during the supply manufacturing for September quarter segment, business compared as compared high million, XXXX. $XX.X the our of third-party $X.X supply self-sufficiency. year total more to to was and September and million and significant Boca for from revenues higher-margin expansion our plasma during X attributed was of partially with $X.X immunoglobulin represents Adam is of of selling higher the BioCenters by the context we a toward as $XX.X XXXX, this products revenues as approximately for of months is a source which mentioned X our increase to our customer XX, titer the and increase product ASCENIV during migrate in the sales compared months in million a base.The increase agreement while this patient for and ago, in growth our $XX the which of expectations an utilization long-term of million September of well ended months to acceptance XXXX attributed million as increased X also as the the our The fulfilling XXXX, sales BIVIGAM to supply XX%. an ended as first and plasma consistent XX, to XXXX plasma product approximately decrease or As million offset normal plasma same

that believe ADMA gross grow paved margin as a a history, pleased for to profits in of first in cash XXXX. net time continue well XXXX over Adam operating earlier, the has time quarter is XX.X% mentioned to We as corporate result, to report, positive has of are ADMA achieved the generated periods.We and compared corporate pathway the XX.X% income the As very quarter profitability the flow. achieved gross GAAP first in of coming third third and to

net a third XXXX, quarter GAAP $X.X reached net the as of the of of for GAAP $XX.X loss million income third quarter million compared During to XXXX.

EBITDA by ratio over has ADMA's third quarter increasing September strengthen the Our to XXXX, third improvement improved $XX end our to company's primarily ended fiscal months periods, leverage grew -- organically hand of is ago. XXXX. ended balance forecasted operating the management quarter totaled increased impressive continue operating by net to generation, the The we and believe adjusted adjusted months X.Xx.We anticipate to the same an year XX, XX, cash growing of loss adjusted million gross XXXX, adjusted enabled business $XX.X to on driven current cash the flow profit, $X.X the million September the cash compared on EBITDA. for for of and of coming Based operating sheet will growth at X flow sales, cash segments. million, and as an X ADMA period $XX.X of for million EBITDA the ADMA's a EBITDA

Lastly, center year-end the operational FDA our of centers and is now FDA-licensed with ADMA X pending plasma, collection XXth licensure by which collecting XXXX. BioCenters plasma network anticipated consists

organization's that, our by material continue encouraged the of record all-time We achieve remarks. raw remain turn Additionally, I now forecast in in will supply Adam XX and we the remain plasma levels.With highs centers. above donor volumes, considerably back our to which from foot traffic period, for and self-sufficiency call real-time same over closing collection the improvements to all pre-pandemic

you, ADMA's in All our morale concert have working and organization. Thank Brian. business systems across teams higher. are company prospects never been and

adjusted from we continuous a from proving and to to committed we high ADMA's holdings banner more quarter a than with profits. $XX is entire in XXXX truly foundation With year established and annualizing million, are be XXXX growing XXXX million third strong We of organization. challenges note growth all at strength. position both cash to $XX.X anticipate the revenues and which a of for its the on during finishing have a EBITDA entering

player outlook initiatives, and centered immunoglobulin growth believe potential peak Our yields, ongoing a particularly manufacturing ADMA's growth corporate standalone achievements financial further have to the as those enhancing that our distinguished to position among ADMA outlook substantial accelerate confident earnings intellectual the on companies and industry. potential.We durable United of robust of in barriers the In ASCENIV, to earnings biopharma are in case in one property market our estate. ability with stories growth we immunoglobulin a the entry most States and the biopharma deliver

of in to leadership. accomplishments third patient XXXX growth, financial the care, Our reflect quarter commitment market and our

opportunities about the of you continued the us delivering value to have and you in We journey, those you are for who company. committed and ahead patients. periods dedication enthusiastic appreciate to wholeheartedly supported our are to our Thank trust support delivering and and we We your come. through this stockholders the for in to

questions. now that donate ADMA open Your save to advance plasma efficacious to in helps call Operator? family help lives.With for high-quality, and up your our lives and mission and save investment safe will make that, neighbors. Please products our and the we help friends,

first Kristen Kluska -- Our question from Klaska of Cantor come Fitzgerald. sorry, Instructions] [Operator will

came ahead of the internal quarters achieving on few goals. Congrats a profitability. quite your This

great a So with that. Yes. job

a it'd a product contributing I question that to just highly It's IP success. lately, of we've one So and around great lot differentiated been hear ASCENIV. comments be clearly served lot on around a to as your getting protection and think is

talk done you've doing So protect that, to what what and about please? can you you're

actually the Absolutely. IPO, main final of the entire issued there's back since in pools the ASCENIV. from the the and been which And I've the the and This estate, covers patents for levels but the Difficulty] have order composition that donors [Technical IP plasma the it's use antibody around is in a we in a the in product. to days anti-RSV of consistency -- was question. plasma of IP selection there while ensure asked And been this is an The some identification product. question

aware a And do form, number run RI-XXX, of in trials drug did Kristen. So in IP the we antibody drug.So IP we we that like are back almost that been our here trade there question, be this of in about XXXX. we that with the XXXX, and the we this are our ASCENIV And not to at ASCENIV. not I anticipate things a have in is that do issued have do, that things the XXXX, competitive protected feel very positioning. believe is good compositional claims a product product competitive there do secrets, the here. of we -- We in use with But the no the about unique make good was as feel IP we that because donors able essentially has no we are A the we this look, place issued. the into do XXXX, threat the I that will very But number by patents known protection market. XXXX. we're profile looking for. has again, make clinical its to formerly threats of same unique secret. And

the over were guiding million, for that what relative long that the 'XX numbers $XXX ago think 'XX. be to now peak million. you produce the company you those could small And to seeing look it you're would potentially wasn't revenues and And $XXX street that

confidence that that we I street through a changed just even So quarters you what truly this last to every that, think ask of you over recognize I guide really helpful such be degree understand earnings really revenues few but it'd high like give the has call, the can XXXX. to

think that education of campaigns. you're for than same working It's strategy. it It's force. the It's people the It's It's sales a this last Nothing what's the It's marketing the asked in company. our has question I see is a has been asking changed? the responding years. products. It's changed. medical payers. working. do Everything all at -- that little couple the works that the you've that mean before. everybody different It's of I things come conversations way lots you positively. are together we with such way that with And

now real -- but my are mean to people speaker it's and regions websites, have online, going shows throughout lending record of education invested been advocating see at. the is marketing still sick, they're that that from And and stories the States.And doing. everything you world. videos and going and early travel you have have beginning, I cycles trial get marketing these a And getting new in have people a attendance into provide the there to educational college, back you online they iPhone. said patient the our greatest around I they problematic it it's student they're are afraid product been first and spending we're in medical built -- a are these the life think the immune we early that then posted lot then real-world present I buying bugs appeal.And that probably can the just are benefits articles days organization, and do people published and post-COVID, are advocacy United patients well we've at we're and my think we I goes to adopters the would of who start back as have that on newest deficient You we're apps people fixed and then get users have different with that, money more through and to closely all the patients. that bureau think wait mass where guess when teams and our have are where more conferences. their the to we We've very an the do say alternative these seeing clinical you and and that yes, early that a I seeing We're that everybody stage adopters the getting not folks in medical worked that I to are

just and think things are we together am, together we all are say who want I'm just So these and I are. people these And am coming getting things changing. But getting a all that faster I little is than what these we texts things. It's nothing all they're coming who I'm anticipate. nice to me I

trying people to just make regular help we're do company, job Our people. good a that and products good

quarter the guidance. what was number, for probably it last it.I our or So we I said did with want remember of to you best other my again. the here ever to ultimately, paid that's provide ADMA. of doing I've don't at XXXX, to maybe one shareholders top-line customers I reasonable and you call, and staff the remember my happy. and quarter the not and Kristen it We're second on -- I and doing my we're patients our I happy, XXXX? want ones, my I want of hit want second that happen healthy happy. I Again,

you guidance there's that certainly it's that X,XXX the if putting buy. time give we you don't other the we that So stocks attainable the I for think want guidance, that is We have they don't fair. like out can guidance. But we're to being, think in to these hit pie and not decisions think why the we that on, make sky explain And their backtrack folks some folks that's numbers investment what way them.

around of got one to listening. me than asking hitting every all numbers got why doesn't you team. great team and to me I've of what I've we we're each are a saying. you. a without It explain happen great You're better

an lives. there saving give and get day's out work around, us keep and So screw don't honest

The next from of Group. come will question Mizuho Petrone Anthony

And congratulations.

was XXXX a quarter and a the earnings few and the turned I quarter. difference. call it's second on Another good huge years page

base continues prescriber Adam, and You the release, that ASCENIV to press have patient grow. your in for base

I at immune here. have average? couple You're getting seems comorbid primary guess, on for out It prescribers And prescribers NRx you coming percent How And where on strokes? maybe I as statistics. of ASCENIV each I broad just do guess, common as new are like a deficient those companies net think started trending what then for as market well you Can this are a we're penetrated point? target by Brian. of thoughts kind quarter, is at board many of new statistic there disclose, getting therapeutics this

the advertising mean having done really these deficient where of do on product. but Kristen's this taken messaging, We're or only the in is marketing to a want, buy. priced do, it's expanding outcomes of I time. the this can't And physician world.So our It's are that That's when stuff?" patients in world, IG. around translating product's is out growth. plasma adopters into the are the and it's I had "Hey, a the world. price There the I that there. effort penetration well into think IG is promotion telling prescribers that look, on we They're they're physician that the depth what another unique of symposium the with affairs the this medical mean, early all prescribers. the made on a end colleague all our real that And benefits it just and actually special happens commercial to conversations have an in and the the and getting are can reps answer Anthony. launch of the use my it." for saying, product. is the that's It is and I again, real a and to spend back we at people can by that where our And to this with the certainly what it's and only seeing drug. to at question the say, goes "I really But is. We grassroots hyperimmune, way are our That's made best put if -- It's lights medical number my story, scale. colleague translating drug more way Plain and our focus, you people is medical specialty higher all accelerated comfortable you I name the really I people I immune hire it I another drug convince them That's -- the use patients you conference that I And really, to why product and in the a think like going throughout ADMA. I they benefit we've it it's kind commercial that the they're that increased really and from. of that think will, understand because and simple.

How that these They Time is the rush product So this it's on on. with getting afraid really, I blade razor product use put primary going and what you're happen think coming once quarter, not to couldn't like deficient what, advocate second every of all to patient have quarter? last doing comorbidities, that a of are larger is really -- they lot quarter? the get they're And we durability. it's thing they're spent Is tries not that think half know every have seeing do including the you -- and We've we secondary doctor these are model. time -- these and you because anymore. annuity. are of questions. And to that about year from and immune time. that that I durable one-off an the well patients a and patient, because of number all been to IG, are lot I you over sick.And think a that not patients had demonstrate this yourself, is more Well, analysts, to I that sees going how this? Adam, they're a results talking I their in is for a prescribers, of comorbidities, therapy a And the patients saying, getting get only is comfortable payers and can reimbursed that the know faster a

You need every a blade month. razor

to the and though X some for would your And research of my on of staying every do market if infusion multiple therapy. on years rest that ASCENIV weeks well it compound. therapy, of your thriving on come you even ASCENIV, in not.They're suggested off seeing people we're life. you're And just they're need You X if

this it's you have It's my forward. question. thank for the moving clinicians. to your the Thank team, for answers really the that hopefully, Thank that peg making So you. clinicians But you said product.

patients, an doing That's us and for well. giving You're sells they're option drug. these what

Brian, beat would maybe They're the course. of here. in margin the And some estimate our and to above little follow-ups be, well drove a the Absolutely. on EBITDA quarter, bit extent here, gross

transitioned to that pool. so that that One the couple outer X,XXX referenced liter there at successfully Are transitioned by early batches some least this of were a product in what we that, to X,XXX so, fully the reading be do And questions. ASCENIV this target can XX% to the was And And right you Does end that if to does margin? year, upside gross 'XX? represent to that XX% of congratulations. years? is,

Sure.

out in from at say is certainly to meaningful. to that much regards or would liter we've ASCENIV, the regarding originally certainly gross with batches, margin And long I to going historically, they've we mobility batches ASCENIV that getting to we very So X,XXX X,XXX seen for X,XXX more ago X,XXXs. margin of ASCENIV than upward XX% X,XXX the pretty XX% utilization gross forecasted. manufacturing of ASCENIV transition range. looking The of and the sold X,XXX liter FDA were not approval

now X,XXX point the upper low XX% So closer probably to XXs. range for ASCENIV as time, we in higher liter than to continue At some XX%, even we're batches. sell maybe only

way Anthony, it's a year not ASCENIV seeing liter XX.X%, the third in And we next beginning Skyler. product, in To quarter clear, not will really trend X,XXX about of of be kick think until is though, margin the It's right? the monetization basis. of go-forward gross it it. that any materially the you're on

next [Operator Nachman question Gary will Instructions] from of Our come Raymond James.

Very nice quarter.

visibility sense groups able big for much So a physician I both buying ASCENIV first with of going to want be question, how get BIVIGAM? product is been you'll supply to and on them. have how you contracting the your how And much

over specifically, then next into the was what So looking And for ASCENIV and BIVIGAM in more. look see mix what the And months. X out have funnel I'm a curious third the to when you that I XX quarter? couple you then

Do was the we know -- What mix?

at heading looking ASCENIV XX%, said and The margin migrated mix that that to historically, XX%-XX% we XX%-XX% XX%-XX% XX%, then that be and BIVIGAM, in standard we'd XX%, mix, towards XX%-XX% start of mix. would for now. more higher-margin XX%, really The we've right we

that And that say, conservative. I'll Gary, is

to we're in Let's see but Do put at we when there? point But that a BIVIGAM? we I being, is we the I where Probably. there? modeling for that's where we in finger chance and time, probably feel do of is? don't. on XX-XX. going with, No. get I where there we're regarding But we know and growth payers, contracting see go.The we're Do where happy. through XX-XX? we reimbursement. very between public payer guidance When the know are seeing. mean, that XXXX, to you your past, I Probably. I've get comfortable time we purposes said I very is for in the ASCENIV private question pleased. XX-XX go very, first know. said, my don't part the and I do we're potentially XX-XX it? I get that was surpass Does No, and mean is some

They very and have COPD. the some infusions. the patient BIVIGAM they they drug. wind or appropriate Again, leverage underlying underlying but very, persistent been that as chronic relate with on have hub, their patients prescribers at-risk drug underlying very have new getting Again, ASCENIV is have they're other it comfortable population. bronchiectasis. may They assistance co-pays staying clearing, ASCENIV for patient these the providing asthma. their in up with They infections hub, it's we effective. it's And the with proved expenses Our important and to

and hits inventory, door. factors many staff but battery through On patients there's now is demand patients challenge. manage compared that's -- we less payer less from high can't of right all all think current ASCENIV clinical sure factors lot as spending IG differentiating with keeping keep mean, we fact helping Payers and has up these again, And different soon right but whole feel risk And with we certainly it the of chuckling, BIVIGAM with a talking a very on contracting out do as competitors. we stock. go it's that about may of flyer.I my a website, payer lot now, that they're got to now access. our about ASCENIV here, of using think And mean we've And are so years very, there's work with that BIVIGAM We're AEs. is really really a I'm are it it's we time patients a And our perspective, the with a interesting the there is multiple have. premedication this that lot seeing of of the with to our just a payer, well. pleased the I these us listening experience.

would at EBITDA few refinancing? when positive a And you're mean, now flow, cash looking on consider with your high this and then, the consistent at quarters what Is -- you the now positive point for list I a debt that

high what third the following everything is you've always And company call, know Gary, is on call been -- list. this, my now? your I fourth

Second call.

We're always doing time. all the everything

that shareholders all one-on-one calls. mean, have the the Let's there. We're to the our we just just to say our types at tuned. that. when we of we see is stay evolved. I'll give you, I stupid. this is and time mean we're conversations changed our We always Look how not having they've having people. the This we're all I all Look and with and conversations answer markets financials. answer at of give say

for founding. from we We as income. are. right, do since only the And will that think business flipped I the it improve net can done believe On its where pages, finally right EBITDA on Brian? thing that I And we this and we've

can, net to things want that flow. EBITDA, total cash lenders, see. these quarter things And grown the positive Three to $XXX are at of banks like And do of that look rate positive interest of assets, mentioned, this going are to look Adam These the at certainly. first banks as cost capital, income, everything million, has over we we're see to quarters year. the

entire financials We continue improve have lowered the points. to overall we same, We certainly in rate May, there's our in not do over more, basis future, time. refinanced interest think to the refinanced as -- XXX the opportunities if

One, they piece an patients. donors, that curious And And supply first, doing try maybe in are that activate important also increasing that's well. for return you're getting? of question Are last your patients? you could you just IG have the if and patients terms what kind donor to treatment of make then through is of you just in physicians I'm the and specifically just get see terms the ASCENIV. specifically on What to incentives now going the been of then puzzle. aware as more

Absolutely. I for advocate patients themselves mean, look, in XXXX.

haven't If advocating Gary, better, advocates X themselves. additions if they how you're see and you." you're for patient there So is are somebody think they "Hey, other it seen And ASCENIV patient their of one big learned a went you to who this a is that the said, think talks doctor for this at don't talk who right how to there that my certainly this. their wants out what is this tell new smart -- about patients we and story. you patient may the doctors learned patient part a about get and I for website, said, if are and to be that, conference "I The about I drug drug, me?" I I think said, right about

look, have are time marketing we patients. company, spending we're smallish -- but We more a to

others.And to part We are What with capacity deficiency in Modell first closely we more helping growth Jeffrey foundation, the the question? is much that broader ASCENIV. Foundation immune advocacy working certainly was think groups, the a for add much amongst the that, patient of

-- donors then And

we've highest that robustness and can here RSV I is much are of collecting our I of to a can going more? choose I've Donors, if them panel pay donor is donors week, you which you more do question, paying team identification calls, the certainly owning Donor donors about and more supply the donors speak don't in in I fees and think, now. And are are everybody I up that at neutralizing of network coming we funny part what we yes. had listening. that down meeting donors today. specifically centers how expedite know plethora right can we're center look, think the there of moment. for certainly the running that There collection our this I in is management maybe to we're talking got help it's in-house company because donors, testing that screening. about mean, past have the don't we a Gary, accessioning these plasma out of pathogens our is our asked antibodies But plasma look which Brian from. chain in this, board. with own talked a levels RSV the and that for.And across donors tell to we I of the respiratory

high-quality if So been saying we're our love selling not more good you for work sending that simple. it I if over somebody what and care what fantastic. And have I They've hope you that all. we not want don't it box. about I you been control else. third-party it keep care ADMA, do. have want. want us and go has that's providers where plasma. don't But And great. I I Plain we it, to you to I into

identified can something we've testing. easily can We that say is that lose access not an appropriate get That single plasma titer donor an to. we of ensure as with for pool, Every we donor that vendors. plasma So a I have ASCENIV donor RSV in donors. that unit third-party high every our we identify we that

our is off, that, of questions. was we wasn't how if also ask okay, every the it we we know like need part this because the was going does are we thousands of if This just take you month, and of grams drug the if start really need were going So of was strategy. do was the plasma. philosophy this It folks these this to of source to all it us the plasma, control?And is tens way part selling

from supply an full we screens, more source the plasma with coupled normal in-house, and So but us RSV supply going chain have donors the plasma we yes, have identify we control our think perspective. over perspective, testing our And we to from full a fact that this, also hyperimmune chain help control that, faster. are over initial that's

the my to the to third-party with continuing test seat keep key redundancy are that one I've work and is Because to thing is at to our laboratory success. third-party ADMA Biologics learned continuing We forever. plan we in laboratory

to can So even to we running keep the and do up supply better more efficiently, though assay and of collection. and plasma going it the continuity to we're ensure continue

initiative It had we back supply where Just XXXX exponential Back bit plasma to only FDA approval collecting last on pleased to now when centers. centers just We're few growth. FDA in on ago the was very that XXXX, of center a add with one receive collecting that approvals. we X robustness we a in are X the hoping about by centers years embarked to a we center. and had end the center, the XX was Fast forward we FDA-approved. with XXXX, the year. have In X we're chain

because who We'd we're and again, So pleased without donate we employees do very what growth. to our for you. BioCenters' as the expansion couldn't well with we exponential the do donors our the thank go as like and ramp-up

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to like conclude would Adam turn the conference. of conference the now for closing Grossman the portion I will remarks. CEO, This Q&A the to back

get been hell a here. everybody. a journey to It's Thanks, of

you thanks here around. for sticking of beginning, since who've those been For the

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This conference Thank participating. for you concludes all today's call.

day. may now have You disconnect, and pleasant a