Adamis Enjoys Stock Spike on FDA Approval
Adamis Pharmaceuticals Corp (NASDAQ: ADMP) rose Thursday following news that the company has submitted prior approval supplement to the Food and Drug Administration for pediatric version of Symjepi.
A news release out Wednesday revealed the San Diego- based company Symjepi (epinephrine) Injection 0.3mg is an FDA-approved product, for the emergency treatment of allergic reactions (Type I) including anaphylaxis, designed for patients weighing 66 pounds or greater. The pediatric version (0.15mg) is intended to potentially treat patients weighing 33-65 pounds.
Both Symjepi products are intended to provide two single-dose syringes of epinephrine (adrenaline), which is considered the drug of choice for immediate administration in acute anaphylactic reactions to allergic reaction to foods (such as nuts), insect stings or bites, drugs and other allergens, as well as idiopathic or exercise-induced anaphylaxis.
CEO Dennis Carlo commented, “With this submission we are excited to take another step forward to provide this potentially life-saving treatment to a broader range of patients that are at risk of anaphylaxis."
Carlo continued, "I know there is great interest in the commercial plan for Symjepi. We are in confidential discussions with several potential partners. We remain committed to bring Symjepi to market and intend to announce our commercial plan once definitive arrangements have been finalized."
Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company focused on developing and commercializing products in the therapeutic areas of respiratory disease and allergy.
The stock soared 40 cents, or 11.4%, to $3.90.