Good morning, everyone. We're excited to be continuing our 44th annual JP Morgan healthcare conference. My name is Roland Ye, and I'm an associate on the Healthcare Investment Banking team here at JP Morgan. Today it's my pleasure to introduce ADMA Biologics and its Founder, President, and CEO, Adam Grossman. We'll have time for a Q&A at the end. And with that, I'll turn it over to Adam.
Thank you very much, Roland. Thank you very much to the entire JPMorgan Healthcare Banking team for the invitation. We are a public company. We trade under the symbol ADMA on the Nasdaq. Please refer to our forward-looking statements and other disclosures on our website and in our Form 10-K and 10-Q filings. So who we are? ADMA is a specialty producer of unique plasma-derived biologics. We mainly produce IVIG products, which are basically extracting all of the antibodies out of human plasma. We have three FDA-approved commercial products. We just pre-announced this morning $510 million or more in total revenue of our commercial organization. And we're very pleased with how the year ended up.
Based on this pre-announcement, this would include a fourth quarter revenue number of greater than $139 million, with EBITDA of $77 million-$78 million or more, and net income of about $50 million or more, which is a substantial step up from the third quarter of 2025. We've got IP that protects our lead product ASCENIV through June of 2035. This IP is around how we test and identify which donors have high titers to respiratory virus antibodies, as well as we have IP around the composition by which we formulate the product and the resulting antibody profile of the drug. So we feel that we've got a really good moat around what we do and that we're protected for long term and ensuring long-term growth and viability of our drugs from third-party competitors. We have a capital-efficient R&D pipeline.
We also announced this morning that we're advancing SG01 in the preclinical setting. We have plans later this year to hold pre-IND meetings and get a lot of that work out of the way with FDA so that we can advance this product. It's not currently in our 2029 multi-year guidance. We are forecasting $1.1 billion in revenue or more by 2029. We did pre-announce today that we anticipate EBITDA margin or EBITDA generation of about $700 million in 2029. That does not include any accretion from SG01. We have a diversified network for plasma collection. We currently operate 10 plasma centers. We did announce also this morning that we are divesting of three of those centers.
In combination with the divestiture of these three centers, we're also signing another long-term third-party supply contract, taking our total number of plasma centers that we collect from 250 up to 280. About 85% of the raw material that we use to make ASCENIV is collected from these third parties. Then we have control over all the normal source plasma that we use to make BIVIGAM and other plasma for R&D in our existing collection network. Headquartered in Ramsey, New Jersey, our manufacturing campus and operations and the majority of ADMA staff is in Boca Raton, Florida, and our headquarters for our plasma center has moved to North Carolina. We are a U.S.-based producer of these products. Our Most Favored Nation is the U.S. We are the last U.S. domiciled producer of intravenous immune globulins in the U.S.
We have end-to-end control of all of our supply chain in the United States. So we have very low risk of any tariff implication. We have no import-export issues. And we're also insulated from any potential MFN issues because we only sell our products commercially in the United States. We're among an elite group of specialty biologic manufacturers. There are seven companies that can produce these products. All products sold in the United States must be produced from U.S. plasma in FDA-approved manufacturing facilities. So there's really very little risk from low-cost competition coming from the developing world or emerging markets. And we're really very proud of the growth that we've seen in the U.S. Most recently, we are, or I should say, we are the first company to receive FDA approval for a yield enhancement manufacturing strategy.
I'll talk a little bit in more detail about the financial implications, but from the same starting raw material, we have invented a process to allow us to extract 20% more finished goods from the same starting plasma, providing more product to sell from this scarce raw material, as well as expanding gross margins and profitability. 645 hardworking full-time dedicated employees, again, all based in the U.S., and again, we've got an infrastructure that supports insulation from a number of the noise out there that may be affecting others in our industry. We talked a little bit about our plasma supply network. Again, this morning, we announced the divestiture of three of these plasma centers. These centers, we carry on our financials at about $1.9 million in total for the three of them. We're selling these centers for $12 million in gross proceeds. We'll bring $10 million into the company.
And also following the divestiture, we will retain the ability to collect the high titer RSV plasma from these centers, as well as expand our third-party plasma collection network. Last year at JPMorgan, we were very proud to announce the signing of long-term agreements with two very stable and well-known companies in the plasma space, Grifols and Kedrion. We're very thankful for their partnership. They've been great suppliers. They're great companies to work with. And now we're going to be augmenting that supply base with this new third-party contract, expanding the total number of centers to over 280. It's about a 5% hit rate of plasma donors that have the antibody profile that we're looking for. All of the science and testing we do in-house using our patented and proprietary microneutralization assay. So we control all the science and the identification of these donors.
Our third parties have agreed to all of our volume requests for 2026. And we feel very, very bullish about the forward-looking opportunity with them. To give you some background on the IG space, in 2024, it's reported to be a greater than $13 billion market. This market is forecasted to grow to over $30 billion by 2033. And the pie chart on the bottom of this slide, ADMA is growing. We now represent about a 3% slice of the U.S. immunoglobulin pie. There was about 135 million g of IG infused in 2024. And we're very proud of our ability to continue to penetrate this market and run between the toes of some giant companies with our differentiated immune globulin portfolio. PI is a significant market opportunity.
At a high level, there are about 250,000 or more of these patients that suffer from one or more forms of a genetic condition called primary humoral immunodeficiency. This renders your immune system to not function properly. And the only way that you can live a normal, healthy life is to receive immune globulin infusions every three to four weeks for the rest of your life. So this market continues to grow. IVIG products are also widely used in secondary immune deficient populations. These are areas like cancer, bone marrow transplant, solid organ transplant therapy, as well as in autoimmune disease patients where we're seeing robust utilization of monoclonal antibodies that knock out T and B cell function. When we dig a little deeper into the primary immune deficiency market, we look at the patient profile for ASCENIV differently.
We take a different approach to segmenting the appropriate use case for a primary immune deficient patient. And not all of these patients who receive IVIG thrive. They survive. They don't die, but they're not thriving. They continue to experience chronic and persistent recurrent respiratory virus infections. They get hospitalized. About 10% of these patients or more suffer from bronchiectasis, which may lead them to need a lung transplant throughout their treatment journey. And about 30% of PI patients are diagnosed with some type of chronic lung condition. So when you put all of this together, we really believe that we have a total addressable market of about 25,000 of these 250,000 patients that we target with ASCENIV. ADMA's unique IG offering is ASCENIV. ASCENIV is a polyclonal immunoglobulin that's manufactured by blending donors that are tested to have high titers against respiratory syncytial virus blended with normal source plasma.
Again, we are the only company globally that has this IP and this technology to make a product in this methodology. The expanding real-world evidence, we announced this morning in the press release that we've really been seeing dramatic improvements in the outcomes in the real-world clinical setting. And these are very hard things to put together in a clinical trial because the majority of patients who would benefit from ASCENIV would potentially be excluded from these types of clinical trials. They are problematic patients. They have tons of comorbidities. They're on a multitude of different concomitant medications. But we really are excited about the compelling real-world evidence that is demonstrating significant reductions in infections switching from standard IG to ASCENIV, as well as a reduction in hospitalizations. Many of these publications report, in as early as six months, they're seeing these benefits.
This is what is going to continue to expand and drive utilization and growth of ASCENIV, both in the government pay and the commercial payer setting. As I talked about, we have a battery of patient advocates. The company has recently started direct-to-patient medical education programs. These are proving to be extremely fruitful and beneficial in the U.S. The right way to get good care from your clinician is to advocate for yourself. We are now teaching, educating, and arming the patient and the patient advocacy community with more data to be able to present to their clinicians to see if ASCENIV is the right drug for them. This slide really breaks down the total addressable market. Again, patients that have recurrent refractory, they're just not responding well to their standard IG. They've had their dose increased. They've had the frequency of infusion increased. They've changed brands.
They've switched to subQ and back to IV and back to subQ. There are thousands of these patients in the U.S. So we are focused on about 10% of this population. So we estimate, and again, based on some analysts and some other industry reports, that we are low in our estimates. But we feel pretty good that there are at least 25,000 patients that are in our total addressable market. There's high demand for ASCENIV, especially in light of the real-world data and evidence that is being published. And we're pleased that we've grown penetration. And we're now about over 4% of our total addressable market. What's been the barrier to growth as we entered JPMorgan last year was raw material supply. And throughout 2025, we really alleviated that raw material supply burden. And we're seeing that continue to unfold favorably for the business.
So not only are we generating more revenue from ASCENIV than we were previously, our production mix throughout the back half of 2025 was shifting more heavily to ASCENIV production. And you're going to see that continue throughout 2026. As we push towards the end of the decade to the 2029 target guidance of $1.1 billion or more, about 90% of our revenue, we believe, would be generated from ASCENIV at that time. And we'd be a little bit over 50%, potentially closer to 60% of production throughput. So there is additional capacity and growth beyond that $1.1 billion number from ASCENIV. And we believe that that is an opportunity that we're going to capitalize on. We have an innovative commercial model. About 99% of our business is in the outpatient ambulatory infusion setting.
These are patients that are receiving home infusion or they go to a freestanding independent infusion clinic. There are national and regional infusion companies who we partner with to service immunoglobulin for the primary immune and secondary immune deficient patient populations. And we announced this morning in our press release that we have diversified our distribution base even further. We announced that we've signed an agreement with McKesson Specialty. They have a very large presence in the immunology and oncology setting. And we think that by adding McKesson, this is going to help expand the reach for different sites of care that we haven't been able to reach with our existing big three distributors. And we're very proud to be working with all of our distribution partners. We target clinical immunologists primarily, as well as infectious disease physicians who see immune deficient patients.
We do call on, and we do see some sporadic inpatient hospital-based use, mainly in pediatrics, for rescue therapy of treating an immune-compromised person with a respiratory tract infection that is not responding well to antibiotics and antivirals that are out there. Upside and growth opportunities. I talked about our yield enhancement strategy. We received approval for this strategy in April of 2025. We commenced commercial-scale production of yield enhancement in May of 2025. In the fourth quarter, and I mean, what's attributing to the revenue growth from a product perspective, as well as the outsized EBITDA contribution, is all coming from mix being more ASCENIV sales, but also 100% of the ASCENIV sold in the fourth quarter was from yield-enhanced batches. The majority of BIVIGAM sold in the fourth quarter was from yield-enhanced batches. We've successfully commenced commercial-scale production.
2026 is going to be our first full year of yield-enhanced production. Again, the production cycle time of our business is very different. So just to make sure for anybody new to the story here, it takes us seven to nine months to produce a batch of drug. We can't do it any faster than that. That's the industry. That's all fractionators, large and small. So seven to nine months. So the product that we are selling today, we made nine months ago. So that's, call it, May. There's significant upside here. Again, 20% more finished goods from the same starting raw material plasma. We believe that there's significant revenue and earnings upside potential from yield enhancement and outsized EBITDA contribution. Again, with our out-year 2029 guidance, we're currently guiding to a 64% EBITDA contribution margin. So very excited about this.
Hats off to our team for being the first company to get this approved by the FDA. We've talked a little bit about our capital-efficient pipeline, and we gave some updates this morning. I'll touch on ASCENIV for pediatrics. We expect to expand the label for ASCENIV in the pediatric population, adding age group two to 12 sometime this year. We think that that will assist with commercial payers getting access, and also, there could be additional upside from utilization in pediatrics from a hospital-based therapy. Our lead pipeline program is something that I'm truly excited about. We successfully demonstrated the proof of concept in preventing and treating the infection in an animal model, and we've been working very, very diligently on the formulation of the drug. This is a product that's slightly easier to make than ASCENIV. It's not naturally occurring antibody.
We take commercially available strep pneumonia vaccines, of which there are two that are preferred, and we immunize one group of donors with vaccine A, another group of donors with vaccine B, and then we combine that plasma together to manufacture a hyperimmunoglobulin that also meets the FDA criteria for IVIG, so in our pre-announcement or in our business update press release this morning, we announced that we plan to submit a pre-IND package in 2026, and we believe that we've got some pretty good shots on goal to get this drug directly into registrational studies, and it's not currently contemplated in our 2029 out-year guidance forecast, but we do think that there's a potential that should things go right, that we could have the product approved within that timeframe.
Again, capital-efficient, we think it could be at least a $300 million-$500 million or more revenue-generating opportunity for the business in line with the margin profile of a product like ASCENIV. We have IP on SG01 that runs through 2037. And again, as we continue to develop and learn more about the plasma donors and on how we're manufacturing the product, we feel very good about the ability to extend these patents into the future. We have an experienced senior leadership team and board of directors that has successfully commercialized a number of biotech companies. We feel that we are right-sized and that we've got all the experience in place to continue to create value for shareholders, buying back stock, returning capital in a very efficient manner. Our financials, just to put some graphics around some of the growth that we are experiencing here.
But all financial metrics that we guided to for 2025, we believe that we've met or exceeded $510 million of revenue, $235 million of EBITDA, and greater than $158 million of net income, forecasting $635 million top line for 2026, $360 million of EBITDA. And for 2027, we've just provided guidance for the first time for 2027 of $775 million in top line revenue and $455 million of EBITDA. This is being driven by, again, mix shift of selling more ASCENIV, production mix shift of making more ASCENIV, and in extracting more operational efficiencies and costs.
With the sale of these plasma centers, we're extracting about $13 million-$15 million of operating costs out of the business, as well as we feel that there are other opportunities for us to realize more margin accretion from additional areas of our manufacturing process that we do see losses in further enhancing yield enhancement as we continue to march down the field to the end of the decade. 2025 preliminary unaudited financials. Again, these are not audited numbers, but we're guiding over $510 million-$511 million of revenue, $88 million of cash at the end of the quarter, which implies a greater than $40 million operating cash flow. We did buy back stock all throughout last year. We continue to believe that the stock is undervalued. We have a very supportive Board of Directors that is going to continue to return capital to shareholders through share buybacks.
That's who we are. Very proud of the work that we're doing. Again, thank you to JPMorgan and to all the ADMA folks out there. Thanks for giving me good stuff to talk about. So with that, we can open up to some questions.
If anyone have any questions, please just raise your hand, and we'll pass you the mic.
Yeah, hi. Just a clarification on 4Q. Did you guys have any plasma sales that were unrelated to BIVIGAM or ASCENIV? And also, with the new McKesson relationship, did you have any stocking in 4Q relating to the new distributor? Thank you.
No stocking from McKesson in the fourth quarter. It was down to the wire signing that agreement. That agreement got done right before Christmas, but they did not place any stocking order. And you will see some plasma revenue. But as I alluded to earlier in the talk, you will see a product step up of at least $15 million from third quarter to fourth quarter revenue. We sold some hepatitis B plasma in the fourth quarter. This is under a contract that we have with a South Korean fractionator where we collect this high-titer plasma and sell it to them. The majority of the plasma revenue that quarter came from that contract. There were no bolus sales, if you will, of any meaningful size of normal source plasma in the quarter.
Thank you very much. Wissam from Tabuk Pharmaceuticals, a leading Saudi pharma company. Question for ADMA in relation to export from the U.S. for markets in the emerging markets like Saudi. Is there any strategy towards expanding into these markets? I understand there is raw material issues. In case there is plasma collected for contract at your site using the dossier, would you consider export to Saudi?
So we certainly would consider any and all business opportunities that are out there. But what I can say is that we still are not able to support the demand that is in the United States. So from our perspective, all of our capacities being earmarked to growing our penetration in the U.S. domestic market. And at the present time, our strategy is focused solely on making products for the U.S. However, if there is an opportunity ex-U.S., there is certainly something that we can talk about. But at the present time, we're dealing with an IG market in the U.S. that is historically undersupplied. And especially as it pertains to ASCENIV, there are more patients out there that want to be on therapy than we can produce drug for right now. So we're continuing to expand our raw material collections.
We're continuing to manufacture and shift our production mix to make more ASCENIV. And as we continue to grow, maybe we'll get there. But that 4% plus penetration into our TAM leaves a lot of headroom for us to grow here domestically in the U.S.
Okay. Maybe I'll ask the next question. So you provide a strong fiscal year 2025 guidance and operated a multifaceted revenue model. Can you walk us through the drivers behind that sizable step up between Q3 and Q4 in product-level revenue?
Sure. In the third quarter, as the gentleman in the audience asked and as you're referring to, we had a $13.8 million sale of normal source plasma at a negative gross margin in the third quarter. Product-level revenues from Q2- Q3 were relatively flat, around $120 million-$121 million. In the fourth quarter, what you're seeing is that step up at least $15 million from a product-level perspective. BIVIGAM in the third quarter, we spoke about, got hit from some competitive market dynamics, some new entrants were launching into the market. And it was just high single digits, low double-digit millions in revenue that we did not see in the third quarter that occurred in the second. We did see BIVIGAM recover meaningfully in the fourth quarter. But really, the outsized revenue growth and contribution was from yield enhancement.
Again, 100% of the ASCENIV sold in the fourth quarter is from yield-enhanced drug, and that's why you're seeing not only that $15 million plus in product-level sales, but you're seeing we didn't report gross margins. I may know what the number is. The only way that you could get to the EBITDA guide that we have put out this morning of about $77 million-$78 million is from outsized contribution from ASCENIV from yield enhancement. Again, fourth quarter, the majority of product sales were from yield-enhanced ASCENIV and BIVIGAM. All ASCENIV was yield-enhanced, and for 2026, the current guidance is for a full year of yield-enhanced product revenue generation.
And maybe just a follow-up to that, fourth quarter margins also expanded meaningfully, as you may have mentioned. And how should investors think about that margin profile as a baseline within your forward-looking guidance framework?
Sure. We're guiding to, I want to say, keep me honest here, Skyler. It's 20% revenue CAGR, well, 20% revenue CAGR to 2029, 30% EBITDA CAGR to 2029. So we believe that there is certainly more room for margin to expand on us being more efficient from an operational basis. You see us divesting of these plasma centers, reducing operating costs. I mean, that should drop straight to the bottom line. And there are other levers that we can pull with additional waste streams that we can recapture more yield, I think, as we get into the out years. So we think gross margins are going to continue to expand. We're guiding to, I guess it's a 64% EBITDA contribution margin in 2029. We think that that is certainly conservative based on everything that we see out there. But we'd like to give conservative guidance that's certainly reasonable and meaningful.
We're going to do everything we can in our power to beat these guidance estimates that we're providing today.
All right. Any questions from the room? I want to ask a follow-up to that as well. So in terms of guidance beyond 2029 and on your pipeline optionality, how should we think about long-term growth opportunities, including the potential contribution and development pathway of SG01?
Sure. So I think that the $1.1 billion target for 2029 is just a milestone. Certainly, with all the data that I've seen and the conversations with KOLs and our Scientific Advisory board, I feel that SG01 has the potential to even be a bigger product and reach a broader set of patients than ASCENIV does today. As I've been speaking about our manufacturing production mix, it'll run this year at about a 50/50 mix between ASCENIV and BIVIGAM. I like BIVIGAM. It's a good drug. It's profitable, but it's highly competitive. I think investors saw that it is subject to some of the competitive dynamics that are out there in the standard IG space where ASCENIV is insulated from those competitive dynamics. We've only seen ASCENIV grow in the face of this increased competition.
I look at our plant as, well, I've got 50% of the capacity or so that I can use to make either more ASCENIV or SG01 or other follow-on products. I mean, in light of some of the noise coming out of Washington, D.C., we're really taking a critical look out there at the conversations around vaccinations. We think that we're really uniquely positioned to capitalize on some of the dislocations that we may see into the future here. We've got a capital-efficient R&D pipeline. I mean, we already make IG. Whether you're making BIVIGAM, ASCENIV, SG01, essentially, it's the same manufacturing process from a manufacturing plant perspective. All the science is done upfront in identifying or securing the raw material that has the high-titer antibodies in it.
So we've got a plant that loves to make IG, and it's making it very efficiently right now with some of the best yields in the industry, if not the best. So substituting that standard IG BIVIGAM capacity for higher margin, unique, differentiated, patented immune globulin products into the future, I think, could compound growth substantially well north of the $1.1 billion that we're guiding to for 2029.
All right. So I guess another question on your decision to sell the plasma center. Could you walk us through the strategic rationale behind that decision and how you're thinking about the operational and efficiency benefits you expect to realize from that?
Sure. It's interesting, and look, we listen to our shareholders, plain and simple. Look, from my perspective, and whether I should be saying this on a recorded line, I mean, I look at plasma. It's got a 10-year shelf life. I love it. I want all the plasma I can have because if I have that inventory, I know I can continue to make drug into the future. If you look at COVID as an example, the reason why the industry was able to continue to keep up with supply is that all manufacturers stock 6- 12 months of raw material inventory, but again, not to keep referring to the gentleman who asked the question about the plasma sale, but that took some investors by surprise.
We don't want to be in the business of collecting inventory and it's sitting there, and then we sell it at a negative margin. I mean, that doesn't do anybody any favors, and it's not the right way to run a public company, so in lieu of us building inventory that we just don't believe we're going to use, I mean, we're making less BIVIGAM, plain and simple, BIVIGAM is made from normal source plasma, so the hit rates that I've referred to, about 5% of plasma donors have the antibody profile that we're looking for to make ASCENIV. So that means you have to collect a lot of normal source plasma in order to get that 5% or so of high-titer plasma, so by divesting of these three centers, we are managing the amount of normal source that we're going to be vertically integrated and collecting.
We still have access to the high-titer donors that we've cultivated relationships and goodwill with at these centers. So we have a 10-year supply agreement for plasma from those centers, plus additional plasma from this third-party collector. So we're just taking a critical look at the business. I think it's a maturation of the way our board and management team is looking at the company. There's no sense in keeping dead weight just because we've invested in it and we built it. If it makes sense to keep, we're going to keep it. If it doesn't make sense to keep, you see that we're going to monetize it and provide long-term benefits for the business. So the rationale there is that we don't want to overcollect. We don't want to build inventory bigger than it needs to be. And we feel really proud of getting this done.
And quite frankly, the diversification of our third-party procurement provider network is something that is extremely valuable to the board of directors and the management team here because that's our life. 85% plus of our raw material now is coming from our third-party suppliers. So the more, the better. If someone has a problem, we still can ensure the continuity of supply.
All right. Question from the room or? Adam, you mentioned earlier that you were able to achieve a 20% increase in manufacturing yield. Would you be able to talk about the significance of that, especially in the backdrop of the competitive landscape nowadays in the U.S.?
Sure. So there's yield enhancement across the entire plasma landscape. You're seeing a number of new devices and new methodologies in plasma collection where you're able to collect more plasma per donation. A number of the large fractionators out there, the global multinational fractionators, have announced these yield enhancement strategies. They announced them many years ago at JPMorgan. I think some of them have some portions of their yield enhancement coming online, but a lot of them aren't going to come online until 2030 or beyond. Our ability to bring yield enhancement on as quickly as possible, I think, just speaks to our nimble footprint. We've got one plant. We make IVIG, and we only sell it in the domestic market. So we don't have a number of different geographies that we have to get regulatory approval in.
Really, I just think it speaks to the innovation and manufacturing prowess that we have at ADMA Biologics. We come up with very creative ways to extract this, and we announce it. We execute it. There's no BS at our company. We just get it done. I think it also speaks to the relationship that we have with the U.S. FDA. This was all done in conjunction with getting feedback from the agency. I think that we've done a great job at being able to demonstrate the commercial scalability and viability of yield enhancement. Really, what we got approved last year is really just phase one. I love when I see our lab people every month, and they give me an update on what's next and what's next. I think we've got a couple of tricks up our sleeves.
I think that the team, if they have anything to say about it, they want to extract even more yield out of the plasma that we have. I think that this behooves itself well for fractionators. I think that we are getting better at what we do and being able to extract more bulk drug and finished goods out of the same starting raw material. I think that from a plasma collection standpoint, you're seeing more efficiency there. I think the number of plasma collections are coming down. You're seeing other manufacturers and collectors of plasma shutting down their plasma centers, whereas ADMA's monetizing them. I do think that yield enhancement is here to stay, and you're going to see it across the industry and abroad, broadly very, very soon.
All right. Yeah. Can we have the mic over here? It's right there.
Maybe just to clarify, so I think you mentioned that there's about 10% of the PI population that can be targeted by ASCENIV. Is the target to get from 4% penetration today to that 10% level? That is ADMA's target to get to that level. And what gives you the visibility to, I guess, reach that? And do you need, I guess, those more novel indications that you kind of mentioned in pneumonia to get there or whether you can sort of break that down in terms of patient types or disease types?
Sure. So we believe that there are 25,000 PI patients that are not doing well on their current IG therapy. Again, we've penetrated about 4%, so over 1,000 patients or so we have on drug today. Our plant has a 400,000-liter capacity. With our manufacturing yields, this side of yield enhancement, that would give us probably enough product to support, call it maybe 8,000 to 10,000 patients. It is weight-based dosing. So yes, it's my goal to provide ASCENIV to every patient that wants it. But with our existing manufacturing infrastructure, we can only supply roughly about half of our total addressable market. I'm not guiding to it, but you're asking the question. If 100% of ADMA's current manufacturing capacity was earmarked to ASCENIV, this would be well north of a $1.5 billion-$1.8 billion revenue opportunity. So certainly much more than what we're guiding to for 2029.
Our goal is, and we have visibility into the fact that our specialty pharmacy partners, the home infusion partners, clinical immunologists, they tell us that they've got patients that want drug. And I think as we're able to collect more plasma, manufacture more drug, there is no manufacturer of IG that outdates their product. If you make it, it gets utilized and sold. So we're going to continue to keep blinders on, block and tackle, make more drug, collect more plasma, make more drug, sell more drug. And we're going to march down the field to get as close to hitting that 25,000 patients as we possibly can. I did announce last year that we acquired a building a few doors down from our existing manufacturing campus. And the strategy there is we need more cold chain storage, supply chain warehousing capabilities.
But our existing plant, there are some offices in that plant. My office is in the same building as the plant. It doesn't need to be there. So if we move offices to the new building, we believe that we've got the ability to potentially expand the GMP manufacturing footprint at least 30% to maybe even 50% or 100% doubling of our manufacturing capacity for modest capital investment in a very shortened timeline from greenfielding a new plant. So we really think that we're setting the business up for long-term success. And I'm getting all these hands waving and signals. And I just want to thank JPMorgan and everybody for their attention and time. And go, ADMA. Thank you, team, so much for doing a great job. I love you all.
Thank you, Adam.
Thank you, everybody.
Thank you.
Take care. Donate plasma, save a life.