SAN FRANCISCO, March 30, 2026 /PRNewswire/ -- Investors in ADMA Biologics, Inc. (NASDAQ: ADMA) saw t...


    
    
    
          
		  
          
            
            
            ,  /PRNewswire/ -- Investors in ADMA Biologics, Inc. (NASDAQ: ADMA) saw the price of their shares slide over 16% on March 24, 2026 on short seller Culper Research's report, "ADMA Biologics Inc. (ADMA): Channel Stuffing, an Undisclosed Related Party Distributor, and -3.5% Real Growth in 2025 vs. +20% Reported."
The developments have prompted national shareholders rights firm Hagens Berman to investigate whether ADMA may have violated the federal securities laws.
The firm urges investors in ADMA who suffered significant losses to submit your losses now. The firm also encourages witnesses who may be able to assist in the firm's investigation to contact its attorneys.
Visit: www.hbsslaw.com/investor-fraud/admaContact the Firm Now: [email protected]                                       844-916-0895
ADMA Biologics, Inc. (ADMA) Investigation: 
ADMA Biologics is a U.S. based, end-to-end commercial biopharmaceutical company that manufactures, markets, and develops specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases.
One of the company's main products is ASCENIV, a product indicated for the treatment of Primary Humoral Immunodeficiency.
The investigation is focused on ADMA's repeated assurances that its financial statements have been prepared in accordance with Generally Accepted Accounting Principles ("GAAP") and that its internal control over financial reporting is effective.
Investors' expectations were dashed on March 24, 2026, when Culper published its findings. Among the matters Culper reported was ADMA's skyrocketing days sales outstanding ("DSO"), which Culper reported as 113 days as of December 31, 2025 compared to 43 days at the prior year end.
Culper explained the DSO spike, saying "[w]e spoke with two high-level employees at one of ADMA's two largest distributors, each of whom told us independently that starting in 2025, ADMA induced the distributor to stock excess ASCENIV by offering rebates and extended payment terms in order to meet order expectations[]" and explained that "[d]istributors take unwanted product without having to pay for it, ADMA books the revenues, and reports growth that was never there."
Culper also said "[w]e believe that, had ADMA held payment terms steady rather than extending terms to inflate reported revenues, the Company would have reported year-over-year revenue declines of 3% in 2025[,]" concluding that "more than the entirety of ADMA's reported growth is explained by channel stuffing."
Lastly, Culper accused ADMA of concealing sales to an undisclosed related party.
The market swiftly reacted, sending the price of ADMA shares down over 16% that day, and reportedly drawing a prominent analyst downgrade from overweight to neutral.
"We're investigating Culper's claims and, if true, whether ADMA may have violated applicable accounting rules including revenue recognition rules," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
If you invested in ADMA and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »
If you'd like more information and answers to frequently asked questions about the firm's ADMA investigation, read more »
Whistleblowers: Persons with non-public information regarding ADMA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens BermanHagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
SOURCE Hagens Berman Sobol Shapiro LLP

          
        

  

ADMA

ADMA Biologics, Inc. (ADMA) Crashes 16% Amid Scrutiny Over Skyrocketing Days Sales Outstanding That Short Seller Claims Points to Improper Channel Stuffing, Hagens Berman Investigating

ADMA's Share Price Plummets Amid Serious Allegations and Investigation

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SAN FRANCISCO, March 30, 2026 /PRNewswire/ -- Investors in ADMA Biologics, Inc. (NASDAQ: ADMA) saw t...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>ADMA Biologics faced a 16% stock drop after allegations of financial misconduct surfaced. Hagens Berman is investigating potential violations of securities laws, which could severely impact investor confidence and ADMA&#039;s financials.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>ADMA&#039;s stock dropped over 16% following Culper Research&#039;s allegations.</li><li>Culper claims ADMA engaged in channel stuffing to inflate revenues.</li><li>Hagens Berman is investigating possible violations of federal securities laws.</li><li>Days sales outstanding rose to 113 days, signaling financial distress.</li><li>Reported growth may not be genuine as real growth was -3.5% in 2025.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Culper Research (N/A)</strong>: Accusations from Culper significantly impacted ADMA’s share price.</li><li><strong>Hagens Berman (N/A)</strong>: The firm is investigating ADMA for potential securities violations.</li></ul>
  </section>

  <section data-block="category">
    <h3>Legal</h3>
    <p>This news fits the &#039;Legal&#039; category as it involves an investigation into possible violations of federal securities laws, affecting ADMA&#039;s credibility and market value.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Culper&#039;s claims of financial misrepresentation could lead to regulatory scrutiny.</li><li>The spike in days sales outstanding indicates potential cash flow issues.</li><li>Investors may react negatively to the Hagens Berman investigation outcomes.</li><li>Analyst downgrades could further erode market confidence in ADMA.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>ADMA&#039;s stock fell over 16% on March 24, 2026.</li><li>Days Sales Outstanding (DSO) increased from 43 to 113 days in 2025.</li><li>Culper alleges ADMA has engaged in channel stuffing for revenue inflation.</li><li>Reported growth of 20% in 2025 may mask a real decline of 3.5%.</li><li>Hagens Berman is investigating potential violations of securities laws.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>ADMA could face continued downward pressure in the coming months due to legal and operational concerns.</p>
  </section>
</section>


<article>
    <h2>ADMA Biologics, Inc. (ADMA) Faces 16% Stock Drop Amid Channel Stuffing Allegations</h2>
    <p>On March 24, 2026, investors in <strong>ADMA Biologics, Inc.</strong> (NASDAQ: ADMA) experienced a significant decline in their stock value, plummeting over <strong>16%</strong>. This drop occurred following a critical report by short seller Culper Research, which alleged serious financial irregularities related to channel stuffing practices.</p>
    
    <section>
        <h3>Investigation Launched by Hagens Berman</h3>
        <p>The explosive findings from Culper have prompted a national shareholder rights firm, <strong>Hagens Berman</strong>, to initiate an investigation into possible violations of federal securities laws by ADMA. Investors who believe they have incurred substantial losses are urged to report their experiences to the firm.</p>
        <p>For more information, investors may visit <a href="http://www.hbsslaw.com/investor-fraud/adma">Hagens Berman's website</a> or contact the firm directly at <strong>844-916-0895</strong>.</p>
    </section>

    <section>
        <h3>About ADMA Biologics</h3>
        <p>ADMA Biologics is a U.S.-based biopharmaceutical firm that specializes in manufacturing and developing biologics for treating patients with compromised immune systems. One of its flagship products, <strong>ASCENIV</strong>, is used to treat primary humoral immunodeficiency.</p>
        <p>Despite ADMA's assurances that its financial statements adhere to Generally Accepted Accounting Principles (<strong>GAAP</strong>), the investigation centers around concerns regarding the effectiveness of its internal controls over financial reporting.</p>
    </section>

    <section>
        <h3>Culper's Findings: Days Sales Outstanding (DSO) Spike</h3>
        <p>The crux of Culper's report highlighted a dramatic increase in ADMA's <strong>days sales outstanding</strong> (DSO), which soared to <strong>113 days</strong> as of December 31, 2025, compared to just <strong>43 days</strong> the previous year. This sharp spike raised alarms about the company’s revenue recognition practices.</p>
        <p>Culper claims its investigation revealed that ADMA allegedly encouraged distributors to stockpile ASCENIV products by offering <em>rebates</em> and <em>extended payment terms</em>. As a result, ADMA reportedly recognized revenue for products that were not actively sold to customers. The report concludes that much of ADMA's reported growth can be attributed to these questionable practices.</p>
    </section>

    <section>
        <h3>Market Reaction and Analyst Downgrade</h3>
        <p>The market reacted swiftly to these revelations, leading to an over <strong>16%</strong> decrease in ADMA’s share price on the day of the report’s release. Furthermore, a prominent analyst downgraded the stock from "overweight" to "neutral," reflecting a shift in sentiment among market watchers.</p>
        <p>“We’re investigating Culper’s claims and, if true, whether ADMA may have violated applicable accounting rules, including revenue recognition regulations,” stated <strong>Reed Kathrein</strong>, partner at Hagens Berman, who is leading the investigation.</p>
    </section>

    <section>
        <h3>Call for Whistleblowers</h3>
        <p>Hagens Berman encourages any individuals with non-public information regarding ADMA to come forward. The Securities and Exchange Commission (<strong>SEC</strong>) offers a whistleblower program that rewards informants with up to <strong>30%</strong> of any recovery resulting from their information.</p>
        <p>To learn more about whistleblower opportunities or if you have any details that could assist the investigation involving ADMA, contact <strong>Reed Kathrein</strong> at <strong>844-916-0895</strong> or email <a href="mailto:[email protected]">[email protected]</a>.</p>
    </section>

    <section>
        <h3>About Hagens Berman</h3>
        <p>Hagens Berman is a well-respected complex litigation firm dedicated to advocating for corporate accountability. With a strong track record of over <strong>$2.9 billion</strong> secured for their clients, Hagens Berman represents a wide array of stakeholders including investors, whistleblowers, and consumers impacted by corporate misconduct.</p>
    </section>
</article>

ADMA Biologics faced a 16% stock drop after allegations of financial misconduct surfaced. Hagens Berman is investigating potential violations of securities laws, which could severely impact investor confidence and ADMA's financials.

adma-biologics-inc-adma-crashes-16-amid-scrutiny-over-skyrocketing-days-sales-outstanding-that-short-seller-claims-points-to-improper-channel-stuffing-hagens-berman-investigating

ADMA Biologics, Inc. (ADMA) Crashes 16% Amid Scrutiny Over Skyrocketing Days Sales Outstanding That Short Seller Claims Points to Improper Channel Stuffing, Hagens Berman Investigating

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Legal

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