Adamis Pharmaceuticals Corporation - ADMP STOCK NEWS

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced financial results for the year ending December 31, 2022, reporting total net revenue of approximately $4.8 million, up from $2.2 million in 2021. The company also recorded a reduced net loss of $26.5 million compared to $45.8 million the previous year. Key developments include a merger agreement with DMK Pharmaceuticals to acquire around 750 small molecule neuropeptide analogs and ongoing government funding. Additionally, Nasdaq granted an extension for the company to regain compliance with its minimum bid price requirement until June 26, 2023. The company raised approximately $3 million through a securities purchase agreement to enhance working capital.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced an investor conference call scheduled for March 16, 2023, at 2:00 p.m. PT to discuss its fourth quarter and full year 2022 financial results. The results will be released at 1 p.m. PT the same day. David J. Marguglio, President and CEO, will lead the call alongside the management team, providing updates on recent developments and future goals. The call is accessible to the public, with a live audio webcast available. Adamis focuses on developing therapies for opioid overdose, allergies, and respiratory diseases, with FDA-approved products like ZIMHI and SYMJEPI.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced a securities purchase agreement with a healthcare-focused institutional investor for a direct offering of 16,500,000 shares and pre-funded warrants to purchase an additional 7,500,000 shares. Priced at $0.125 per share, the total proceeds are expected to reach approximately $3.0 million, intended for general working capital. The offering is anticipated to close around March 16, 2023, pending customary conditions. This issuance is under a shelf registration statement filed with the SEC, and further details will be available in a prospectus supplement.

Adamis Pharmaceuticals (NASDAQ: ADMP) announced its merger with DMK Pharmaceuticals, aimed at enhancing its therapeutic offerings, particularly in opioid use disorder (OUD). The merger will provide Adamis with DMK's library of 750 small molecule neuropeptide analogues and ongoing government funding. Eboo Versi, DMK's CEO, will lead the combined entity. The merger is contingent on stockholder approval and includes a reverse stock split of Adamis shares. The deal is seen as a strategic move to maximize shareholder value and address significant medical needs, with the potential for blockbuster products in the pipeline.

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.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) reported its Q3 2022 financial results, highlighting net revenue of approximately $1.5 million, up 98% from $760,000 in Q3 2021. A strategic review process is underway to maximize stockholder value, exploring options like sales or partnerships. Notable developments include a 90% increase in ZIMHI sales and a projected relaunch of SYMJEPI by Q1 2023 after a recall. However, the Phase 2/3 trial for Tempol in COVID-19 treatment failed to meet its primary endpoint, leading to halted development. The company is also liquidating assets from its former US Compounding business.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced an investor conference call on November 14, 2022, at 2:00 p.m. PT to discuss its Q3 2022 financial and operational results. This call will highlight recent developments and future objectives. The Q3 financial results are expected to be released after 1 p.m. PT on the same day. Adamis is focused on specialty biopharmaceutical products, particularly in allergy and opioid overdose treatments, including its FDA-approved products SYMJEPI® and ZIMHI®. A live webcast of the call will be accessible for public listening.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) has halted its Phase 2/3 clinical trial for Tempol aimed at treating early COVID-19 infection. The company is now exploring strategic and financing alternatives to maximize stockholder value, which may include selling its commercial products, merging, or seeking additional financing. Investment bank Raymond James & Associates has been engaged as a strategic advisor. The company has not set a timeline for this review process and warns that failure to secure a transaction may lead to bankruptcy or restructuring. Cost-cutting measures, including employee layoffs, are also under consideration.

Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced that its Phase 2/3 clinical trial of Tempol for COVID-19 failed to achieve its primary endpoint of clinical resolution at day 14 compared to placebo. The independent Data Safety Monitoring Board recommended halting the trial due to lack of efficacy, though no safety issues were identified. The trial enrolled 248 high-risk subjects, and the results raised speculation over the impact of vaccinations and variant strains on the findings. The company will analyze the data for potential future applications of Tempol.