ADMA Biologics Inc (NASDAQ: ADMA) rose after the company disclosed that its subsidiary, ADMA BioCenters, received approval from the Food and Drug Administration for third plasma collection center.
The Marietta, Ga.-based company prides itself on being a vertically integrated commercial biopharmaceutical company that develops, manufactures and markets specialty plasma-based biologics for the treatment of Primary Immune Deficiency Disease and the prevention and treatment of certain infectious diseases.
The facility commenced operations and initiated source plasma collection last December, and is now FDA licensed to collect and enter into interstate commerce to sell and use the human source plasma for further manufacturing in the U.S.
"FDA approval of our third plasma collection facility is an important milestone that enables us to continue to internally supply a portion of our raw material, as well as collect other hyperimmune source plasma for the manufacturing of ADMA’s products in our Boca Raton, FL facility or for sale to other customers," said Adam Grossman, ADMA Biologic CEO.
Plasma can be used for the manufacture of a variety of live-saving and life-sustaining therapies. Plasma centers provide local economies with financial resources through employment opportunities and compensation to local residents for their generous plasma donations.
At over 12,000 square feet, the new ADMA BioCenters facility is anticipated to support approximately 50 donor beds at peak capacity and is expected to employ up to 50 staff members
Shares in ADMA acquired 16 cents, or 2.7%, to $6.06
