Nasdaq Grants Adamis Pharmaceuticals’ Request for Extension to Comply with Continued Listing Requirements
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) has received an extension from the Nasdaq Hearings Panel for continued listing, allowing until June 26, 2023, to comply with the $1.00 bid price requirement. This extension is conditional upon meeting certain interim milestones, including seeking shareholder approval for a reverse stock split. The company is focused on regaining compliance with Nasdaq listing standards. CEO David J. Marguglio expressed appreciation for the extension and emphasized efforts to meet the Panel's terms. Adamis specializes in products for opioid overdose, allergies, and respiratory diseases.
- Received extension from Nasdaq Hearings Panel until June 26, 2023, for compliance with listing requirements.
- Opportunity to implement a reverse stock split to meet bid price requirements.
- Must achieve a closing bid price of at least $1.00 per share for ten consecutive business days to maintain listing.
- Failure to comply within the set period could result in delisting from Nasdaq.
SAN DIEGO, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (NASDAQ: ADMP), a commercial-stage biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including opioid overdose, allergy, respiratory and inflammatory disease, today announced that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for continued listing on Nasdaq, pursuant to an extension through June 26, 2023 to evidence compliance with the
The Company’s continued listing is subject to the Company’s satisfaction of certain interim milestones, including the timely undertaking of certain corporate actions during the Compliance Period, including seeking shareholder approval for a reverse stock split of the Company’s common stock, and effecting a reverse stock split if required to achieve a closing bid price of at least
“We are most appreciative that the Panel has provided us with this extension,” said David J. Marguglio, Chief Executive Officer of Adamis. “We are committed to using our best efforts to take the actions required to satisfy the terms of the Panel’s extension and regain compliance with the Nasdaq listing standards. And at the appropriate time, I look forward to providing an update concerning the strategic and financing alternatives process that we first announced in early October 2022.”
About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including opioid overdose, allergy, respiratory and inflammatory disease. The Company’s ZIMHI® (naloxone) Injection product is approved for the treatment of opioid overdose. The Company’s SYMJEPI® (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. For additional information about Adamis Pharmaceuticals, please visit our website and follow us on Twitter and LinkedIn.
Contact:
Adamis Investor Relations
Robert Uhl
Managing Director
ICR Westwicke
619.228.5886
robert.uhl@westwicke.com
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