ADMA Biologics Inc (NASDAQ:ADMA) stock soars as much as 23% in the pre-open session after the company receives FDA approval for increased IVIG production scale.
This morning, the company said that the U.S. FDA has granted approval for the Company’s expanded manufacturing process, enabling fractionation and purification of a 4,400-liter plasma pool for the manufacture of Intravenous Immune Globulin (“IVIG”).
“The FDA approval of the 4,400-liter IVIG plasma pool production scale process is a transformative milestone for the ADMA organization and will allow the Company to produce significantly more IVIG for the U.S. market and for patients living with immune deficiencies,” said Adam Grossman, President and Chief Executive Officer of ADMA.
This certainly is good news for shareholders and that’s why we are witnessing a nice upmove. ADMA stock has surged almost 255 over the past week. The stock is up another 22.63% at $2.33 in the pre-market session.
The stock looks to be in a breakout as it has crossed 50-Day and the 200-Day moving average price of $2.05 and $2.31 respectively.
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