ADMA Biologics Inc. (NASDAQ:ADMA) has pushed back against allegations contained in a report released by Culper Research on March 24, saying the document includes “misleading, false and inaccurate statements” and relies on “speculative assertions derived from unidentified and unreliable sources.”
Culper Research disclosed that it holds a short position in ADMA shares. The firm has previously published similar critical reports on publicly traded companies after establishing short positions.
ADMA said it remains committed to accurately reporting its operating and financial performance and to ensuring that its public disclosures comply with U.S. Securities and Exchange Commission requirements and U.S. Generally Accepted Accounting Principles. The company added that it is currently reviewing the claims raised in the report.
ADMA Biologics is a commercial-stage biopharmaceutical company focused on the development, manufacturing and commercialization of plasma-derived biologics. Its product portfolio currently includes three therapies approved by the U.S. Food and Drug Administration: ASCENIV and BIVIGAM, both used to treat primary humoral immunodeficiency, and NABI-HB, which provides enhanced immunity against hepatitis B.
The company operates an FDA-licensed plasma fractionation facility in Boca Raton, Florida, and collects plasma through its ADMA BioCenters subsidiary. In addition, ADMA is developing SG-001, a pre-clinical investigational therapy targeting Streptococcus pneumoniae.