ADMA Biologics, Inc. (ADMA) saw its loss widen to $6.54 million, or $0.51 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.61 million, or $0.43 a share.
Revenue during the quarter grew 23.78 percent to $2.63 million from $2.12 million in the previous year period. Gross margin for the quarter contracted 185 basis points over the previous year period to 38.52 percent.
Operating loss for the quarter was $5.94 million, compared with an operating loss of $4.16 million in the previous year period.
"Throughout the first quarter of 2017, we continued to collaborate with Biotest Pharmaceuticals on our integration plan, and we look forward to completing and consummating our transformative transaction to acquire certain manufacturing and therapy-related business assets of Biotest Pharmaceuticals, expected to occur in June 2017," stated Adam Grossman, president and chief executive officer of ADMA. "Also during the first quarter of 2017, we entered into a long-term lease where we plan to construct our third ADMA BioCenter and expand our plasma collection network in Georgia. We are also encouraged by our continued quarter over quarter revenue growth generated from our plasma centers during the first quarter of 2017."
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