ADMA Biologics, Inc. (NASDAQ:ADMA) Q4 2022 Earnings Call Transcript

Adam Grossman: The prescriber universe for compromised patients in IG is certainly not infinite. There is a finite number of prescribers, and we’ve got a large amount of them who are believers in our products, who are believers in ASCENIV and who really understand now that this is really our third year of commercialization. I mean I think the message is out there. I think that the medical education work that we’ve done and our marketing activities have really carved out a nice niche for ASCENIV. And I think BIVIGAM, and some of the real-world evidence on great tolerability and efficacy, I think that this is really driving more awareness and increased utilization of the products. You asked something around reutilization of ASCENIV, and we’re always a little bit cautious, if I can say that, flipping the calendar here.

You never know what payers are going to do. You never know what occurs with Medicare and reimbursement. There’s always some level of uncertainty. So we have to hedge a little bit. But with where we sit today, knowing what I know about the first quarter, I mean I’m really happy with the work that our med affairs and our market access teams, all the work that they’ve been able to do, I mean we are seeing continued utilization. And I know that this is something that our shareholders have been asking me about for years. They see this durable growth, “Well, is it going to continue into next year?” And I’d say, “I think it will. Let’s flip the calendar and let’s see.” And it appears that, that utilization is continuing. It appears that patients are staying on therapy.

The docs are happy with the product. The patients who are thriving on the product certainly are advocating for themselves. And we built a night commercial and compliance infrastructure here to ensure that we have the data available to ensure the continued access of our products to patients who need it. So we feel real good about this. The $210 million includes, Anthony, existing prescribers. It includes new prescribers. We’ve got a very bullish commercial force right now, and they really feel like they’re making a difference. Whether I should talk about this or not, we had our national business meeting. We had a couple of patients who received ASCENIV come in and talk to our commercial force about what their real-world life experience was prior to being on ASCENIV.

And I think that, that really has reinvigorated and motivated our team to get out there and continuing to make a difference in patient lives. So the balls continue to bounce in our favor, and we’re really happy, and we’re going to keep making a good quality product and providing it out there and ensure the continuity of care. So we expect demand trends to continue, we expect utilization to increase and we feel very confident about exceeding that $210 million target that we’ve set.

Anthony Petrone: That’s great. And the last one for me, I’ll hop back in and let others jump in here. Just on ASCENIV production scale going to 4,400 liter, what is the timing of that? And then if you can, can you just give us the total population of pediatric PI patients? Assuming you secure that label, how many pediatric primary immune patients are that are out there in the United States? Again, congratulations.

Adam Grossman: No, thank you, Anthony. So the ASCENIV 4,400, this is one of those things that I’m sure some of my team here is laughing about it. It’s one of those things I swore I’d never do, but the demand has been fantastic. And this is really a tremendous milestone for us. I mean we’ve got great demand out there for ASCENIV. Making it at the 4,400-liter scale will give us more product faster. And what it does is it opens up production slots. So whether we’re making a 2,200-liter batch or a 4,400-liter batch, it uses the same production slot, same staff, same time. So this will allow us to make either more ASCENIV. It will allow us to make more BIVIGAM. It will allow us to utilize the plant’s total capacity faster. I didn’t look at the production schedule today, but I’ll say that we’re probably going to start sometime in the next calendar quarter, I think.