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Levi & Korsinsky has notified investors that it has commenced an investigation into ADMA Biologics, Inc. (NASDAQ: ADMA) regarding potential violations of federal securities laws.
During ADMA Biologics’ Q4 2025 earnings call, CEO Adam Grossman said ASCENIV achieved $363 million in net revenue, representing 51% year-over-year growth.
Culper Research, in a short report, disputed the sustainability of that growth, alleging it was driven by “classic channel stuffing.” ADMA’s annual report, meanwhile, described its commercial execution as “expected to accelerate demand utilization while maintaining cost discipline.”
According to Culper, members of ADMA’s distributor attested that underlying demand “is not really growing.”
The article highlights a divergence between ADMA’s reported results and the allegations. It states there is a gap between reported 20% revenue growth and an alleged 3% decline.
ADMA stock reportedly dropped sharply immediately after the short-seller report was published on March 24, 2026, and continued to fall in the following days.
The notice also states that investors who suffered losses on ADMA Biologics securities may explore potential recovery under federal securities laws by contacting Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or calling (212) 363-7500.

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