Adamis Pharmaceuticals Corporation Stock Price, News & Analysis

Adamis Pharmaceuticals Corporation (Nasdaq: ADMP) has announced the pricing of a public offering of 40,540,540 shares of common stock at $1.11 per share, expected to raise approximately $45 million before expenses. The offering is set to close on February 2, 2021, with underwriters granted an option to purchase an additional 6,081,081 shares. Proceeds will support general corporate purposes, including R&D, capital expenditures, and potential acquisitions. The offering is registered under an existing shelf registration statement with the SEC.

Adamis Pharmaceuticals Corporation (Nasdaq: ADMP) has announced plans for an underwritten public offering of its common stock, with expectations to allow underwriters a 30-day option to purchase an additional 15%. The offering is contingent on market conditions and details regarding its size and terms remain uncertain. Proceeds from this offering will be utilized for general corporate purposes, potentially including research and development, clinical trials, and working capital. Raymond James & Associates, Inc. will act as the sole book-running manager.

Adamis Pharmaceuticals (NASDAQ: ADMP) partnered with Stanford University to study Tempol's effects on immune cells from COVID-19 patients. Preliminary findings indicate that Tempol reduces cytokine levels from activated cells, potentially aiding in the treatment of COVID-19. Tempol has shown significant anti-inflammatory and antioxidant properties in previous studies, which may mitigate acute respiratory distress syndrome symptoms. The company plans to submit final data for peer review and seeks funding for further clinical studies. The recent exercise of warrants has provided additional capital to support these efforts.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced a non-binding letter of intent for the sale of its subsidiary, US Compounding Inc. (USC). The proposed transaction could generate gross consideration between $10-20 million, subject to various conditions and negotiations. The deal may include cash, a promissory note, and performance-based payments. Completion depends on regulatory approvals, buyer licensing, and other customary conditions, with no guarantees on final terms or closure timing. This move aligns with Adamis' strategic focus on its core pharmaceutical operations.

Ovarian cancer poses serious challenges globally, with over 240,000 diagnoses annually. BioVaxys Technology Corp. has initiated a clinical program for BVX-0918A, aiming to address unmet needs in Stage III and IV ovarian cancer. The company plans to seek compassionate use approval in the EU and will submit a clinical trial application later this year. Additionally, they completed a preclinical program for the SARS-CoV-2 vaccine candidate BVX-0320 with promising results. Ongoing clinical trials and advancements in immunotherapy are pivotal in shaping the future of cancer treatment.

Adamis Pharmaceuticals (NASDAQ: ADMP) announced that its SYMJEPI® (epinephrine) Injection products are now part of the Walgreens Prescription Savings Club, offered at a competitive price of $99.99 for a two-pack. This price is the lowest available for epinephrine products in the market. The SYMJEPI products, available in 0.3mg and 0.15mg dosages, are essential for treating acute allergic reactions. CEO Dr. Dennis J. Carlo expressed enthusiasm over the partnership, highlighting the company's commitment to making SYMJEPI the most affordable epinephrine product available.

Adamis Pharmaceuticals (NASDAQ: ADMP) announced the submission of an Investigational New Drug (IND) application to the FDA for Tempol, aimed at treating COVID-19. This follows a Pre-IND meeting where the FDA provided recommendations on the application. Tempol is known for its anti-inflammatory and antioxidant properties, showing promise in reducing lung inflammation and preventing platelet aggregation. With over 23 million COVID-19 cases in the US, the company emphasizes the urgent need for new treatments as variants may evade current vaccines.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced its response plan to a Complete Response Letter (CRL) from the FDA for its New Drug Application (NDA) regarding ZIMHI™, a high-dose naloxone injection for opioid overdose. The CRL, received on November 13, noted deficiencies that must be addressed before approval. Adamis aims to resolve these issues and will submit its responses by year-end, subsequently requesting a Type A meeting with the FDA. The increased opioid overdoses and recent market gaps position ZIMHI as a potential life-saving product.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced that it received a Complete Response Letter (CRL) from the FDA for its New Drug Application (NDA) regarding ZIMHI™, a high-dose naloxone injection for opioid overdose treatment. The CRL indicates that the NDA is not approvable in its current form due to Chemistry, Manufacturing, and Controls (CMC) issues. Importantly, the FDA did not raise concerns about previously noted testing issues. Adamis plans to address the CRL's concerns and will request a Type A meeting with the FDA to discuss next steps.