For the third quarter ended September 30, 2021, the company reported financial results and provided an overview of its recent achievements. ADMA has made significant progress in its commercialization and production ramp-up. This achievement, along with its other financial milestones, would not have been possible if not for the dedicated efforts of its employees. The investments we made in our manufacturing facility and in the ADMA Biocenters plasma collection operations have produced positive results. As a result, we strengthened our balance sheets with the recent closing of our public equity offering. ADMA stock surges 9.2% in the pre-market trading today to $1.53.
ADMA BioCenters, the company’s plasma collection center segment, expects to have 10 facilities for collecting plasma that are licensed by FDA by year-end 2023. With the rapid expansion of its plasma collection network, as well as the establishment of its own internal plasma self-sufficiency, ADMA is well-equipped to meet the increasing demand for its products in the US. ADMA has successfully achieved commercial and regulatory milestones during the first half of 2021, which establish the Company as a vertically integrated manufacturer of finished dosage forms for the US IG market. With the completion of these activities, the Company has a clear path to profitability and is focused on unlocking its true value. On October 25, 2021, ADMA completed an underwritten public offering, which raised approximately $53.9 million. The Company’s strengthened cash position allows it to continue its efforts to raise additional capital.