BioCentury
ARTICLE | Finance

Form 10 for ADMA

Plasma therapeutics play ADMA raises $17.6M, reverse-merges for Form 10 listing

February 20, 2012 8:00 AM UTC

Investors in ADMA Biologics Inc.'s private placement don't mind holding a relatively illiquid stock, as the syndicate is expecting a Phase III data event before the company's cash runs out in 3Q13.

Last week, the company took its first steps down the Form 10 pathway by reverse-merging with a public shell company and raising $17.6 million through the sale of 1.8 million shares at $9.60. ADMA plans to list on the OTCBB exchange...