NEW YORK, December 30, 2025, 13:35 ET — Regular session
Shares of ADMA Biologics fell 3.7% to $18.40 in afternoon trading on Tuesday, a steeper drop than the broader biotech group. The SPDR S&P Biotech ETF was down about 1.3%.
The pullback came as U.S. stocks steadied in holiday-thin trading ahead of minutes from the Federal Reserve’s December policy meeting, after the central bank delivered a 25-basis-point cut this month. Mark Hackett, chief market strategist at Nationwide, described recent positioning as “a healthy rebalancing of allocations.” 1
Biotechnology shares were among the laggards, with the NYSE Arca Biotechnology Index down about 1.1% earlier in the session, Nasdaq.com data showed. That backdrop can amplify moves in smaller names as year-end liquidity dries up. 2
ADMA last updated investors on Nov. 5, when it reported third-quarter revenue of $134.2 million, up 12% from a year earlier, and GAAP net income of $36.4 million. The company said the FDA’s lot release of its first “yield-enhanced” batches — a manufacturing change designed to get more product from each volume of plasma — should support gross margin expansion starting in the fourth quarter, and it raised its full-year 2025 revenue outlook to $510 million or more. It also lifted its 2026 revenue forecast to $630 million or more and projected 2026 adjusted EBITDA — a common proxy for operating profit that excludes items such as interest, taxes and depreciation — of more than $355 million. 3
A quarterly filing described ADMA’s core business as plasma-derived immune globulin, an antibody-rich therapy made from human plasma. It sells ASCENIV and BIVIGAM for patients with primary immunodeficiency, and Nabi-HB for certain hepatitis B exposures.
A Form 4 filing showed President and CEO Adam Grossman exercised options for 15,000 shares and sold 21,000 shares at $19.79 on Dec. 15. The filing said the trades were made under a Rule 10b5-1 plan, a pre-arranged program that sets trading instructions in advance.
Plasma-product peers were mixed: Grifols shares were up about 0.6% on Tuesday, while Takeda’s U.S.-listed shares slipped about 0.9%. ADMA’s sharper move left it trading more like a small-cap biotech than the diversified plasma majors.
For ADMA bulls, the near-term question is execution: whether higher output translates into sustained margin gains as the yield-enhanced process ramps. Any shift in plasma availability or payer coverage can flow quickly into quarterly numbers for a company of its size.
For bears, the concern is that quiet tape-plus-thin liquidity can turn routine sector weakness into an outsized drawdown, even without a company-specific headline. That dynamic tends to fade once trading volume normalizes in January.
The next scheduled checkpoint is the company’s fourth-quarter report. ADMA has not confirmed a publication date, but MarketBeat estimates an earnings release on March 2, 2026, based on prior reporting patterns. 4
Until that update, traders are likely to keep treating ADMA as a high-beta read on biotech sentiment and rate expectations — factors that can overpower company narratives on slower news days. Swings in the biotech ETFs often set the tone first.
