Investigation Opened on Behalf of ADMA Biologics Shareholders

Levi & Korsinsky notifies investors of potential securities law violations by the biotech company.

Apr. 6, 2026 at 4:42am

Got story updates? Submit your updates here. ›

Levi & Korsinsky, a nationally-recognized securities litigation firm, has commenced an investigation into ADMA Biologics, Inc. (NASDAQ: ADMA) concerning potential violations of federal securities laws. The investigation follows a short-seller report that alleges discrepancies between the company's reported revenue growth and statements from distributors about underlying demand.

Why it matters

The gap between ADMA's reported 20% revenue growth and the alleged 3% decline represents a substantial divergence that could have significant implications for investors. The investigation by Levi & Korsinsky, a firm with a track record of securing hundreds of millions for aggrieved shareholders, suggests the potential for legal action and a recovery of losses under federal securities laws.

The details

On the Q4 2025 earnings call, ADMA Biologics CEO Adam Grossman stated that the company's ASCENIV product achieved $363 million in net revenue, representing 51% year-over-year growth. However, a short-seller report by Culper Research contends that this growth was driven by "classic channel stuffing" rather than underlying demand. The report further claims that members of ADMA's distributor attested that "underlying demand 'is not really growing.'" This gap between the reported 20% revenue growth and the alleged 3% decline represents a substantial divergence that led to a sharp drop in ADMA's stock price following the publication of the short-seller report.

  • On March 24, 2026, Culper Research published its short-seller report on ADMA Biologics.
  • ADMA Biologics reported its Q4 2025 earnings in early 2026.

The players

ADMA Biologics, Inc.

A biopharmaceutical company that develops, manufactures, and markets specialty plasma-derived biologics for the treatment of immunodeficient patients.

Adam Grossman

The CEO of ADMA Biologics, Inc.

Culper Research

A short-seller research firm that published a report alleging discrepancies in ADMA Biologics' reported revenue growth.

Levi & Korsinsky LLP

A nationally-recognized securities litigation firm that has commenced an investigation into ADMA Biologics, Inc. concerning potential violations of federal securities laws.

Joseph E. Levi

An attorney at Levi & Korsinsky LLP who is leading the investigation into ADMA Biologics.

Got photos? Submit your photos here. ›

What they’re saying

“ASCENIV achieved $363 million in net revenue, representing 51% year-over-year growth.”

— Adam Grossman, CEO, ADMA Biologics, Inc.

“Underlying demand 'is not really growing.'”

— ADMA Biologics distributor

What’s next

The judge in the case will decide on Tuesday whether or not to allow Levi & Korsinsky to proceed with the investigation on behalf of ADMA Biologics shareholders.

The takeaway

This case highlights the importance of scrutinizing a company's financial reporting and the potential consequences of discrepancies between reported performance and actual market conditions. The investigation by Levi & Korsinsky, a firm with a track record of securing substantial recoveries for investors, suggests that ADMA Biologics shareholders may have a path to recouping losses if the allegations of securities law violations are substantiated.