08:02 AM EDT, 03/27/2026 (MT Newswires) -- ADMA Biologics ( ADMA ) on Friday refuted allegations in a March 24 report by Culper Research.

The company said that demand for its ASCENIV product "is real and growing," citing data provided by the company's distribution partners and direct customers.

ADMA also said Culper's "allegations of channel-stuffing" showed a misunderstanding of the commercial dynamics of the market.

"The company believes that these inventory levels are consistent with industry peers and are appropriately sized," ADMA said.

The company also said Culper misrepresents ASCENIV's competitive positioning in the market.

"As a late line therapy for patients who have failed standard IG, ASCENIV is in a different category and commands premium pricing. The Short Report's citation of new launches of normal course immune globulin products as creating competitive pressure for ASCENIV utilization is grossly misguided," the company said.

Culper did not immediately reply to MT Newswires' request for comment.