Adamis Gains Footing on Citing Goals, Accomplishments

Adamis Pharmaceuticals Corp (NASDAQ: ADMP) shares rose Friday, after the company issued an update on accomplishments for 2017 and goals for 2018.

Highlights from last year included: New Drug Application (“NDA”) for Symjepi TM (epinephrine) Injection 0.3mg product, was approved by the U.S. Food and Drug Administration (“FDA”) for the treatment of allergic reactions (Type I) including anaphylaxis.

What’s more, a supplemental New Drug Application (“sNDA”) was submitted for the lower dose Symjepi TM (epinephrine) Injection 0.15mg product for patients weighing 33-65 pounds.

An Investigational New Drug (“IND”) application was submitted to the FDA for a Naloxone injection product candidate, which uses the same approved injection device, for the treatment of opioid overdose.

As well, the number of outstanding warrants was reduced through exercise transactions, which the company believes improved its balance sheet.

The company’s U.S. Compounding, Inc. subsidiary applied for a patent and began marketing a novel equine ulcer product for which the company believes there could be a significant market.

Some of the company’s accomplishments during 2018 include the following:

In January, an IND application was submitted to the FDA for a beclomethasone HFA (APC-1000) product candidate and in February, the company received approval from the FDA to proceed with Phase 3 clinical studies.

Also, in February, Adamis received correspondence from the FDA indicating that the agency had determined that the company’s sNDA for Symjepi ™ (epinephrine) Injection 0.15mg was sufficiently complete to permit a substantive review and indicated that no potential review issues were identified as of the date of the agency’s communication.

Shares in Adamis hiked 12.5 cents, or 3.3%, to $3.88.