ADMA Biologics Announces $125 Million Accelerated Share Repurchase with JPMorgan as Part of a Planned $200 Million 2026 Total Share Repurchase Initiative

Rhea-AI Summary

ADMA (Nasdaq: ADMA) announced a 2026 capital return initiative targeting $200 million, including a $125 million accelerated share repurchase (ASR) with JPMorgan, and plans to complete the ASR within about five months.

The company will initially receive ~6.4 million shares (≈80% of expected ASR shares) based on a $15.57 close on Feb 27, 2026, and retains up to $500 million authorized repurchases.

Positive

• $125M ASR executed with JPMorgan
• Capital return target of $200M for 2026
• Initially received ~6.4M shares (~80% of ASR)
• Up to $500M total repurchase authorization

Negative

• Final ASR share count depends on VWAP and an agreed discount
• At settlement, company may need to deliver shares or pay cash
• Repurchases could limit near-term cash available for other investments

Key Figures

2026 capital return target: $200 million ASR size: $125 million Initial ASR shares: 6.4 million shares +5 more

8 metrics

2026 capital return target $200 million Planned 2026 total share repurchase initiative

ASR size $125 million Accelerated share repurchase with JPMorgan in 2026

Initial ASR shares 6.4 million shares Approximate initial shares received under ASR

Initial ASR proportion 80% Portion of total ASR shares delivered upfront

Reference share price $15.57 per share Closing price on February 27, 2026 used for initial ASR sizing

ASR duration five months Expected term to complete ASR

Repurchase authorization $500 million Total capacity under existing share repurchase program

Repurchases to date $160 million Cumulative repurchases since May 2025 including ASR

Market Reality Check

Price: $15.57 Vol: Volume 4,390,050 is 1.62x...

high vol

$15.57 Last Close

Volume Volume 4,390,050 is 1.62x the 20-day average of 2,711,983, indicating elevated pre-news activity. high

Technical Shares at $15.57 are trading below the 200-day MA at $17.42 and about 39.35% under the 52-week high of $25.67.

Peers on Argus

ADMA was up 2.57% while key biotech peers showed mixed moves: ZLAB +1.42%, ACAD ...

ADMA was up 2.57% while key biotech peers showed mixed moves: ZLAB +1.42%, ACAD +0.90%, MIRM +1.41%, PTGX +4.42%, and MTSR -0.34%. No peers appeared in the momentum scanner and there were no same-day peer headlines, suggesting this buyback news was more company-specific than sector-driven.

Historical Context

5 past events · Latest: Feb 25 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 25	Earnings results	Positive	+1.0%	Record FY2025 results with strong revenue, ASCENIV growth, and higher long-term guidance.
Feb 18	Earnings date set	Neutral	+0.3%	Announcement of Q4 and FY2025 earnings release date and accompanying conference call.
Jan 12	Preliminary results	Positive	-0.1%	Preliminary FY2025 revenue, cash position, raised 2026–2027 guidance, and SG‑001 plans.
Jan 05	Conference appearance	Neutral	+0.8%	Planned J.P. Morgan Healthcare Conference presentation and webcast details.
Nov 05	Earnings results	Positive	-8.7%	3Q 2025 revenue, profitability metrics, yield‑enhanced production, and raised guidance.

Pattern Detected

Recent fundamental updates have generally been positive, but share reactions have been mixed, with some strong earnings and guidance upgrades met by short-term selloffs.

Recent Company History

Over the last several months, ADMA has reported multiple record quarters and years, with FY2025 revenue reaching about $510–511M and strong growth from ASCENIV. Guidance has been raised repeatedly, including FY2026 revenue targets around $630–635M and adjusted EBITDA targets of $355–360M, and longer-term goals above $1.1B revenue and $700M adjusted EBITDA by 2029. The company has emphasized yield‑enhanced production, divestiture of plasma centers for $12M, a growing SG‑001 pipeline, and ongoing share repurchases, providing a backdrop of expanding profitability and active capital allocation for today’s buyback expansion.

Market Pulse Summary

This announcement detailed a substantial capital return plan, including a $125M accelerated share re...

Analysis

This announcement detailed a substantial capital return plan, including a $125M accelerated share repurchase as part of a $200M 2026 initiative and up to $500M authorized overall. It builds on prior repurchases of about $160M since May 2025 and follows record revenue and profitability. Investors may focus on execution of the ASR, future repurchase pace, and how these actions interact with ADMA’s growth investments and long-term guidance trajectory.

Key Terms

accelerated share repurchase, volume-weighted average price, rule 10b5-1 trading plans, sec rule 10b-18

4 terms

accelerated share repurchase financial

"including the execution of a $125 million accelerated share repurchase (“ASR”) agreement"

An accelerated share repurchase is a deal where a company hires a bank to buy back a large block of its own stock immediately on the open market, with the bank later settling the exact number of shares over time. For investors it matters because the immediate reduction in shares outstanding can raise per‑share earnings and often supports the stock price, but it also uses company cash or borrowing and can change liquidity and future growth funding.

volume-weighted average price technical

"based on the average of the daily volume-weighted average price of the Company’s common stock"

Volume-weighted average price (VWAP) is the average price of a stock over a specific time period where each trade is weighted by the number of shares traded, so larger trades influence the average more than small ones. Investors and traders use VWAP as a reference point to judge whether trades are happening at relatively good or poor prices—like checking the average price paid for an item at a market where bulk purchases count more than single-item buys.

rule 10b5-1 trading plans regulatory

"may include repurchases under Rule 10b5-1 trading plans or in other open market transactions"

Rule 10b5-1 trading plans are written, pre-arranged instructions that allow company insiders (such as executives or directors) to automatically buy or sell their company's stock at specified times or under set conditions, like a standing instruction or automated thermostat for trades. They matter to investors because these plans provide a legal defense against insider‑trading accusations and create predictable insider trading patterns that can help signal whether sales are routine portfolio management or potentially meaningful to the company’s outlook.

sec rule 10b-18 regulatory

"other open market transactions in accordance with SEC Rule 10b-18 over the course of 2026"

A U.S. Securities and Exchange Commission safe harbor that sets specific conditions companies must follow when repurchasing their own shares, so those buybacks are less likely to be treated as illegal market manipulation. Think of it as a set of guardrails — timing, volume, and method limits — that give investors more predictability about how buybacks may affect share supply, price support and management’s flexibility to return cash to shareholders.

AI-generated analysis. Not financial advice.

RAMSEY, N.J. and BOCA RATON, Fla., March 02, 2026 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), a U.S. based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics, today announced a capital return initiative target of approximately $200 million during 2026, including the execution of a $125 million accelerated share repurchase (“ASR”) agreement with JPMorgan Chase Bank, National Association (“JPMorgan”). The initiative underscores the Company’s strong financial position, durable free cash flow profile and confidence in its long-term growth trajectory.

“We believe ADMA’s common stock represents the most compelling near-term capital deployment opportunity available to the Company,” said Adam Grossman, President and Chief Executive Officer of ADMA. “Given our sustained revenue growth, expanding margins and an anticipated acceleration in go-forward cash flow generation, we believe we are well positioned to continue investing in our strategic growth initiatives while returning significant capital to stockholders. We view our common stock as meaningfully undervalued relative to the strength and durability of our business and remain highly confident in our ability to drive substantial long-term per-share value.”

Under the terms of the ASR agreement, ADMA will pay JPMorgan an aggregate upfront amount of $125 million and will initially receive approximately 6.4 million shares of its common stock on or about March 3, 2026, representing approximately 80% of the shares expected to be repurchased under the ASR, based on the closing price of ADMA’s common stock of $15.57 per share on February 27, 2026. The total number of shares ultimately repurchased will be based on the average of the daily volume-weighted average price of the Company’s common stock during the term of the ASR, less an agreed discount, and is expected to be completed within the next five months. At final settlement, the Company may receive additional shares or, under certain limited circumstances, may be required to deliver shares or make a cash payment, pursuant to the terms of the agreement.

The ASR agreement was executed pursuant to the Company’s existing share repurchase program, under which the Company has up to $500 million authorized for repurchases. The Company intends to be opportunistic in deploying these repurchases, which may include repurchases under Rule 10b5-1 trading plans or in other open market transactions in accordance with SEC Rule 10b-18 over the course of 2026, subject to market conditions and other factors.

Since the program’s authorization in May 2025, between prior repurchases and the ASR, ADMA will have repurchased approximately $160 million of its common stock to date. Management believes these actions enhance long-term stockholder value and reflect a disciplined and opportunistic approach to capital allocation.

About ADMA Biologics, Inc. (ADMA)

ADMA Biologics is a U.S. based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA)-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus. Additionally, ADMA is developing SG-001, a pre-clinical, investigative hyperimmune globulin targeting S. pneumonia. ADMA manufactures its immune globulin products and product candidates at its FDA-licensed plasma fractionation and purification facility located in Boca Raton, Florida. Through its ADMA BioCenters subsidiary, ADMA also operates as an FDA-approved source plasma collector in the U.S., which provides its blood plasma for the manufacture of its products and product candidates. ADMA’s mission is to manufacture, market and develop specialty plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases and management of immune compromised patient populations who suffer from an underlying immune deficiency, or who may be immune compromised for other medical reasons. ADMA holds numerous U.S. and foreign patents related to and encompassing various aspects of its products and product candidates. For more information, please visit www.admabiologics.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. (“we,” “our” or the “Company”). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as “confident,” “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “is likely,” “will likely,” “position us,” “view,” “positioned,” “support,” “should,” “could,” “would,” “may,” “potential,” “opportunity” or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, but are not limited to, statements about the Company’s long-term growth trajectory, capital deployment, cash flow forecast, strategic growth initiatives, value of our common stock, ability to deliver stockholder value, timing for completion of the ASR transaction, the number of shares to be purchased by JPMorgan under the ASR agreement, and additional purchases in 2026 under our share repurchase program. Actual events or results may differ materially from those described in this press release due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the SEC, including our most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.

INVESTOR RELATIONS CONTACT:
Argot Partners | 212-600-1902 | ADMA@argotpartners.com

FAQ

What did ADMA announce about its 2026 share repurchase plan (ADMA)?

ADMA announced a $200 million 2026 capital return initiative including a $125 million ASR. According to the company, the ASR is expected to complete within about five months and is part of a broader repurchase authorization.

How many shares will ADMA initially receive under the $125M ASR (ADMA)?

ADMA will initially receive approximately 6.4 million shares, representing about 80% of expected ASR shares. According to the company, this is based on the $15.57 closing price on February 27, 2026.

When will the ADMA ASR with JPMorgan settle and could additional payments occur?

The ASR is expected to complete within the next five months, with final settlement based on VWAP and an agreed discount. According to the company, additional shares or a cash payment may be required at final settlement.

How much buyback capacity does ADMA retain after the ASR (ADMA)?

ADMA has up to $500 million authorized for repurchases under its program. According to the company, the $125M ASR is drawn from this authorization and the firm will be opportunistic across 2026.

How much stock had ADMA repurchased before the March 2, 2026 ASR announcement (ADMA)?

Including prior repurchases and the ASR, ADMA will have repurchased approximately $160 million of common stock to date. According to the company, this reflects its capital allocation approach since May 2025 authorization.

Will ADMA use Rule 10b5-1 plans or open-market buys for 2026 repurchases (ADMA)?

ADMA intends to be opportunistic, which may include repurchases under Rule 10b5-1 trading plans or other open-market transactions in accordance with SEC Rule 10b-18. According to the company, deployment depends on market conditions.