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ADMA Biologics down 7% following stock offering

  • ADMA Biologics (NASDAQ:ADMA) is down 7% in after-hours trading after the plasma-derived biologics company announced a public offering of common stock.
  • ADMA (ADMA) did not disclose the size of the offering.
  • The company said the proceeds would be used to accelerate commercialization and production activities, complete plasma center buildout and obtain FDA approvals, conclude post FDA marketing approval research and development projects, and for general corporate purposes.
  • Raymond James, Cantor Fitzgerald, and Mizuho Securities are acting as joint book-runners.
  • ADMA hit a 52-week high on Nov. 15, a few days after reporting a Q3 earnings beat.