,  /PRNewswire/ -- Investors in ADMA Biologics, Inc. (NASDAQ: ADMA) saw the price of their shares sl...

,  /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/adma
Contact 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 Shares Plummet as Short Seller Raises Serious Allegations

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>,  /PRNewswire/ -- Investors in ADMA Biologics, Inc. (NASDAQ: ADMA) saw the price of their shares sl...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>ADMA Biologics&#039; stock dropped sharply due to accusations of financial misrepresentation including channel stuffing. The situation prompted an investigation by Hagens Berman regarding potential violations of federal securities laws, which could significantly impact investor confidence and stock valuation.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>ADMA shares fell over 16% following a critical report from Culper Research.</li><li>Culper accused ADMA of channel stuffing and financial misrepresentation.</li><li>ADMA&#039;s days sales outstanding surged to 113 days by December 2025.</li><li>Hagens Berman is investigating potential securities law violations by ADMA.</li><li>Analysts downgraded ADMA from overweight to neutral post-report.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>ADMA Biologics, Inc. (ADMA)</strong>: Faced allegations that may severely impact financial credibility.</li><li><strong>Hagens Berman (N/A)</strong>: Leading the investigation into ADMA&#039;s financial practices.</li><li><strong>Culper Research (N/A)</strong>: Published a report that negatively influenced ADMA&#039;s stock price.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This situation falls under Corporate Developments, as it directly relates to ADMA&#039;s financial practices and investor confidence, which is critical for stock valuation.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Culper Research&#039;s findings could lead to further declines in ADMA&#039;s share price.</li><li>An ongoing investigation by Hagens Berman may uncover serious liabilities for ADMA.</li><li>Responses from ADMA regarding allegations will be critical to shaping market sentiment.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>ADMA shares declined over 16% on March 24, 2026.</li><li>Days sales outstanding increased from 43 to 113 days year-over-year.</li><li>Culper claims ADMA&#039;s revenue growth was artificially inflated by channel stuffing.</li><li>Hagens Berman is investigating potential violations of GAAP by ADMA.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should consider shorting ADMA pending further investigation developments within 3-6 months.</p>
  </section>
</section>


<article>
    <h2>ADMA Biologics, Inc. (ADMA) Shares Plunge 16% Amid Channel Stuffing Allegations</h2>
    <p>On March 24, 2026, shares of ADMA Biologics, Inc. (NASDAQ: ADMA) experienced a dramatic decline of over <strong>16%</strong> following a report by short seller Culper Research. The report, titled "<em>ADMA Biologics Inc. (ADMA): Channel Stuffing, an Undisclosed Related Party Distributor, and -3.5% Real Growth in 2025 vs. +20% Reported</em>," has prompted an investigation by the national shareholders rights law firm Hagens Berman.</p>

    <section>
        <h3>Investigation Details</h3>
        <p>The investigation aims to determine if ADMA Biologics has violated federal securities laws. Hagens Berman is urging investors who have incurred significant losses to report their losses and is also seeking witnesses to aid in the investigation.</p>
        <ul>
            <li>ADMA Biologics is a biopharmaceutical company specializing in specialty biologics.</li>
            <li>The company’s primary product, ASCENIV, treats patients with Primary Humoral Immunodeficiency.</li>
        </ul>
    </section>

    <section>
        <h3>Financial Concerns Raised by Culper Research</h3>
        <p>Culper Research's report highlighted a concerning increase in ADMA's days sales outstanding (DSO), which surged from <strong>43 days</strong> at the end of the previous year to <strong>113 days</strong> as of December 31, 2025. This spike raised alarms about potential accounting irregularities.</p>
        <p>Culper's findings indicated that ADMA might have engaged in <strong>channel stuffing</strong>—a practice where companies induce distributors to buy excess inventory to inflate revenue reports. These findings included allegations that ADMA incentivized its distributors to stockpile ASCENIV by offering rebates and extended payment terms.</p>
    </section>

    <section>
        <h3>Market Reaction</h3>
        <p>The evidence presented triggered an immediate market reaction, resulting in a substantial drop in ADMA's share price and prompting analysts to downgrade the stock from <strong>overweight</strong> to <strong>neutral</strong>.</p>
        <p>Reed Kathrein, a partner at Hagens Berman, stated, “We are investigating Culper's claims and, if true, whether ADMA has violated applicable accounting regulations, including revenue recognition rules.”</p>
    </section>

    <section>
        <h3>Call for Investors and Whistleblowers</h3>
        <p>Investors in ADMA who believe they have suffered substantial losses are encouraged to reach out to Hagens Berman. Additionally, individuals with non-public information regarding ADMA's practices are urged to consider their options, potentially through the SEC Whistleblower program, which offers rewards of up to <strong>30%</strong> of any successful recovery.</p>
        <p>For more information, interested parties can visit <a href="http://www.hbsslaw.com/investor-fraud/adma">Hagens Berman's website</a> or contact the firm directly at 844-916-0895 or via email at <a href="mailto:Reed.kathrein@hbsslaw.com">Reed.kathrein@hbsslaw.com</a>.</p>
    </section>

    <section>
        <h3>About Hagens Berman</h3>
        <p>Hagens Berman is a leading plaintiffs' rights law firm that focuses on complex litigation related to corporate accountability. The firm represents a wide range of clients, including investors, whistleblowers, and consumers, and has achieved significant outcomes in corporate negligence cases. To learn more about Hagens Berman and their successes, visit <a href="http://www.hbsslaw.com">hbsslaw.com</a>.</p>
    </section>
</article>

ADMA Biologics' stock dropped sharply due to accusations of financial misrepresentation including channel stuffing. The situation prompted an investigation by Hagens Berman regarding potential violations of federal securities laws, which could significantly impact investor confidence and stock valuation.

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

Corporate Developments

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