ADMA Biologics issued a press release refuting allegations made by short seller Culper Research, stating that demand for its ASCENIV product is growing and inventory levels are consistent with industry standards. The company provided specific inventory data and clarified ASCENIV's positioning as a late-line therapy for immune compromised patients.
Key takeaways
ADMA refuted allegations in a short report issued by Culper Research on March 24, 2026
Demand for ASCENIV has increased over the past two-plus years according to distributor and customer data
Distributor inventory days of coverage for ASCENIV were 128 days as of January 5, 2026 and 90 days as of March 22, 2026
Distributor inventory days of coverage for BIVIGAM were 129 days as of January 5, 2026 and 92 days as of March 22, 2026
ASCENIV is positioned as a late-line therapy for immune compromised individuals who are refractive to standard IG treatments
ADMA received unqualified audit opinions for FY 2024 and FY 2025 from a Big Four accounting firm