ADMA Biologics, Inc. (ADMA) saw its loss widen to $19.52 million, or $1.61 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $17.97 million, or $1.73 a share.
Revenue during the year surged 48.53 percent to $10.66 million from $7.18 million in the previous year. Gross margin for the year expanded 40 basis points over the previous year to 40.34 percent.
Operating loss for the year was $17.33 million, compared with an operating loss of $15.51 million in the previous year.
"During the recently completed fiscal year and into 2017, we have achieved significant progress towards transforming ADMA Biologics into a fully vertically integrated manufacturer and provider of commercial hyperimmune globulins and other plasma derived biological products," stated Adam Grossman, president and chief executive officer. "Since signing the definitive purchase agreement with Biotest to acquire certain manufacturing and therapy-related business unit assets in January 2017, we have been working aggressively on integration efforts and advancing toward the closing of this transformational transaction, which is anticipated to occur during the first half of 2017."
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