Why Is ADMA Biologics Stock Down Today?

ADMA Biologics, Inc. (ADMA) fell 6.472% in the fifteen minutes after its Q2 2026 report, even though the quarter showed real improvement: total revenue of $124.4 million, up 2% year-over-year, with gross margin expanding to 69% from 55% a year earlier. GAAP net income rose 11% to $37.8 million, with basic EPS of $0.17, and adjusted EBITDA grew 22% to $61.8 million.

ADMA is a biopharmaceutical company focused on plasma-derived specialty biologics — immunoglobulins — for immunodeficient patients and those at risk of infectious disease. Its lead product, ASCENIV, grew revenue 24% to $102.9 million, continuing to outperform on rising physician adoption and higher patient utilization; CEO Adam Grossman said June delivered the strongest sequential month-over-month utilization growth since the first half of 2024. Full-year 2026 guidance was reaffirmed at $530-560 million in revenue, $265-300 million in adjusted EBITDA, and $170-200 million in adjusted net income.

ADMA also kept buying back stock, repurchasing about 7.1 million shares in the quarter (13.8 million year-to-date) under its roughly $200 million annual buyback program. On the pipeline side, its SG-001 candidate is advancing toward conformance-lot manufacturing in the second half of 2026, targeting an FDA pre-IND submission by year-end.