ADMA Biologics (NASDAQ:ADMA) is experiencing a significant pre-market plunge of 9.82% on Thursday, following a disappointing after-hours trading session on Wednesday. The sharp decline comes in the wake of the company's second-quarter financial results release, which revealed mixed performance metrics.
While ADMA Biologics met earnings expectations with $0.14 per share, representing a 7.69% year-over-year increase, the company's quarterly sales fell short of analyst estimates. ADMA reported revenue of $121.98 million, missing the consensus forecast of $122.67 million by 0.56%. Despite the miss, this figure still represents a 13.80% increase compared to the same period last year.
The market's reaction appears to be driven by the sales miss, overshadowing the company's year-over-year growth and in-line earnings. Investors seem to have expected stronger results, particularly in terms of revenue growth. The pre-market plunge follows a significant after-hours drop of over 10% on Wednesday, indicating that market participants are reassessing their expectations for the biopharmaceutical company. This movement highlights the market's sensitivity to even slight misses in revenue projections for growth-oriented companies in the biotech sector.
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