ADMA Biologics Faces Class Action Over Alleged Revenue Inflation

The legal action, filed by Levi & Korsinsky, centers on a stark discrepancy between ADMA’s financial reporting and findings published by Culper Research. While ADMA reported $362.5 million in ASCENIV revenue for 2025—a figure touted as 20% year-over-year growth—independent analysis suggests the product actually faced a 3% decline. The complaint alleges that the company shipped excess inventory to distributors to artificially inflate demand, while simultaneously failing to disclose transactions with Genesis BioPharma Services, an entity reportedly operating out of ADMA’s own headquarters.

Investors who purchased ADMA securities during the specified period are now eligible to join the recovery effort. The lawsuit contends that ADMA’s internal controls were inadequate and that the premium pricing of ASCENIV, marketed at approximately $900 per gram, triggered widespread pushback from payors and providers. With the lead plaintiff deadline set for August 10, 2026, the firm is seeking to address the impact of these alleged misrepresentations on shareholder value following the sharp stock decline that accompanied the March 2026 report.