ADMP Adamis Pharmaceuticals Corporation

1.11
-0.13  -10%
Previous Close 1.24
Open 1.2
52 Week Low 0.27
52 Week High 2.34
Market Cap $155,709,966
Shares 140,279,249
Float 139,385,660
Enterprise Value $168,447,350
Volume 8,007,639
Av. Daily Volume 22,918,587
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Drug Pipeline

Drug Stage Notes
ZIMHI (naloxone HCI Injection)
Opioid overdose
CRL
CRL
CRL announced November 16, 2020.
APC-1000
Asthma/COPD
Phase 2
Phase 2
Phase 3 development on hold - noted May 9, 2019.
APC-8000 (sublingual tadalafil)
Erectile dysfunction
NDA Filing
NDA Filing
Refusal to file letter received February 26, 2019.
Symjepi - low dose
Anaphylaxis
Approved
Approved
FDA Approval announced September 27, 2018.
Epinephrine Pre-filled Syringe (PFS)
Emergency treatment of anaphylaxis.
Approved
Approved
CRL issued March 27 2015. CRL issued again June 6, 2016. Approval announced June 15, 2017 following third submission.

Latest News

  1. SAN DIEGO, Feb. 22, 2021 (GLOBE NEWSWIRE) --  Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) ("Company") announced today that the U.S. Food and Drug Administration ("FDA") has completed the safety review of the Company's Investigational New Drug ("IND") application and has concluded that Adamis may proceed with the proposed clinical investigation of Tempol for the treatment of COVID-19. The clearance to proceed follows the submission of an IND application to FDA and a Pre-IND meeting.

    The goal of the study titled, "A Phase 2/3, Adaptive, Randomized, Double-Blind, Placebo-Controlled Study to Examine the Effects of Tempol (MBM-02) on Preventing COVID-19 Related Hospitalization in Subjects with COVID-19 Infection," is to examine the safety…

    SAN DIEGO, Feb. 22, 2021 (GLOBE NEWSWIRE) --  Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) ("Company") announced today that the U.S. Food and Drug Administration ("FDA") has completed the safety review of the Company's Investigational New Drug ("IND") application and has concluded that Adamis may proceed with the proposed clinical investigation of Tempol for the treatment of COVID-19. The clearance to proceed follows the submission of an IND application to FDA and a Pre-IND meeting.

    The goal of the study titled, "A Phase 2/3, Adaptive, Randomized, Double-Blind, Placebo-Controlled Study to Examine the Effects of Tempol (MBM-02) on Preventing COVID-19 Related Hospitalization in Subjects with COVID-19 Infection," is to examine the safety and activity of Tempol in COVID-19 patients early in the infection. In addition to safety, the study will examine markers of inflammation and the rate of hospitalization for patients taking Tempol versus placebo early in COVID-19 infection. More details of the protocol can be found here or by searching Clinicaltrials.gov.

    "As the principal investigator of this study, I am excited to initiate this clinical trial to evaluate the role of Tempol to prevent serious complications and hospitalization in COVID-19 patients. We are in need of additional therapeutic options for COVID-19, and this novel antioxidant approach deserves a thorough investigation," noted Shyam Kottilil, MBBS, PhD, Professor of Medicine and Director of the Division of Clinical Care and Research at the Institute of Human Virology at the University of Maryland School of Medicine.

    Tempol has demonstrated both potent anti-inflammatory, anticoagulant, and antioxidant activity. Both inflammatory cytokines and reactive oxygen species (ROS) from cells of the immune system called macrophages and neutrophils damage the lung in Acute Respiratory Distress Syndrome (ARDS). In animal models, Tempol has been shown to decrease proinflammatory cytokines (cytokine storm), and through its potent antioxidant activity has been shown to decrease the harmful effects of ROS. In addition, Tempol has been shown to decrease platelet aggregation, a problem observed in many COVID-19 patients.

    Recently, in collaboration with investigators at the Human Immune Monitoring Center at Stanford University, preliminary data from a study to investigate the effects of Tempol on immune cells from COVID-19 patients showed that Tempol decreased cytokine production in stimulated COVID-19 positive human cells. Numerous published articles describing animal models of ARDS show Tempol caused a decrease in lung inflammation and preserved lung pathology associated with acute and chronic lung injury.

    Tempol has also been shown to have an impact on gene expression. Examples include:

    (1)   Glutathione s-transferase, regulators of oxidative stress - Tempol has been shown to significantly increase the enzyme gene expression, thereby protecting cells against the onslaught of oxidative stress from numerous sources;



    (2)   ADIPOQ gene, an inflammation regulatory gene - Tempol has been shown to significantly increase expression of ADIPQ, thereby regulating the expression of pro-inflammatory cytokines such as TNF∝ and IL-6; and



    (3)   HIF-1∝ and HIF-2∝, hypoxia inducible factors - Tempol has been shown to decrease the genes (HIF1∝ and HIF-2∝) associated with hypoxia. Hypoxia is a key indicator often associated with severe disease and poor outcome. Controlling hypoxia and the cytokine store can be considered essential to the successful treatment of COVID-19.



    Dr. Dennis J. Carlo, President and Chief Executive Officer of Adamis Pharmaceuticals commented: "With new mutations of COVID-19 continuing to occur, there is a distinct possibility that the current vaccines will be less effective. This also holds true for the current antibody products. As the virus continues to mutate, it is likely that this will have a negative impact on viral neutralization. This highlights how critically important it is to develop new therapeutic products. The consequences of cytokine storm caused by COVID-19 remain a major burden on our healthcare system, with few treatment options available. We are hopeful that this study will demonstrate the important role of Tempol in treating and preventing hospitalization and the severe after effects of COVID-19. If this trial is successful, we would likely petition the FDA to consider Emergency Use Authorization for Tempol as a therapeutic treatment for COVID-19".

    About Adamis Pharmaceuticals

    Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. The company's SYMJEPI (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. Adamis' naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose is currently under FDA review. Adamis is developing additional products, including treatments for acute respiratory diseases, such as COVID-19, influenza, asthma and COPD. The company's subsidiary, US Compounding Inc., compounds sterile prescription drugs, and certain nonsterile drugs for human and veterinary use by hospitals, clinics, surgery centers, and vet clinics throughout most of the United States.

       

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that express plans, anticipation, intent, contingencies, goals, targets or future development and/or otherwise are not statements of historical fact. These statements relate to future events or future results of operations, including, but not limited to the following statements: the company's beliefs concerning the safety and effectiveness of Tempol; the timing of commencement of enrollment of patients, conduct or completion of any studies or trials relating to Tempol including the trial discussed in this press release; the results of any studies or trials that the company may conduct relating to Tempol; the impact of Tempol on gene expression; the company's ability to commercialize the product candidates described in this press release, itself or through commercialization partners; the effectiveness of current or future COVID-19 vaccine products against new mutations of COVID-19; and other statements concerning our future operations and activities. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Adamis' actual results to be materially different from the results anticipated by such forward-looking statements. There can be no assurances regarding the timing of commencement of patient enrollment for trials or studies relating to Tempol, or regarding the timing of the conduct and completion of such clinical trials; that the Tempol trial discussed in this press release will be successful; that future trials or studies regarding Tempol will produce results regarding the impact of Tempol of gene expression or other results that are consistent with the results in previous studies or trials; that Tempol will be found to be safe and effective in the treatment of COVID-19 or any other indication; that we will apply for or that the FDA will grant any emergency use authorization for Tempol for Tempol as a therapeutic treatment for COVID-19; or regarding the effectiveness of current or future COVID-19 vaccine products against new mutations of COVID-19. We cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as may be required by applicable law, we undertake no obligation to update or release publicly the results of any revisions to these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Certain of these risks and additional risks, uncertainties, and other factors are described in greater detail in Adamis' filings from time to time with the SEC, including its annual report on Form 10-K for the year ended December 31, 2019 and subsequent filings with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC's web site at http://www.sec.gov.

    Contact Adamis



    Mark Flather

    Senior Director, Investor Relations

    & Corporate Communications

    Adamis Pharmaceuticals Corporation

    (858) 412-7951



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  2. SAN DIEGO, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) ("Company") today announced that it recently received a notice that one of its patent applications relating to its ZIMHI high dose naloxone injection product candidate, intended for the treatment of opioid overdose, was allowed by the U.S. Patent and Trademark Office. The allowed claims describe a naloxone composition at a dose greater than or equal to five milligrams configured for administration as an injection. The company believes this patent should protect and strengthen the existing intellectual property associated with the product candidate.

    According to new data from the U.S. Centers for Disease Control and Prevention ("CDC"), deaths from…

    SAN DIEGO, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) ("Company") today announced that it recently received a notice that one of its patent applications relating to its ZIMHI high dose naloxone injection product candidate, intended for the treatment of opioid overdose, was allowed by the U.S. Patent and Trademark Office. The allowed claims describe a naloxone composition at a dose greater than or equal to five milligrams configured for administration as an injection. The company believes this patent should protect and strengthen the existing intellectual property associated with the product candidate.

    According to new data from the U.S. Centers for Disease Control and Prevention ("CDC"), deaths from drugs overdoses have substantially accelerated amid the COVID-19 pandemic. The CDC data indicates that more than 81,000 drug overdose fatalities occurred in the U.S. between June 2019 and May 2020. This is the highest number of overdose deaths ever recorded in a year-long period. These numbers are expected to increase.

    Dr. Dennis J. Carlo, President and Chief Executive Officer of Adamis Pharmaceuticals, added, "The current opioid epidemic seems to be fueled by the more potent synthetic opioids such as fentanyl and its derivatives, and it has worsened during the COVID-19 pandemic. Concomitant with the rise of overdoses caused by synthetic opioids, deaths have risen despite increased availability of the current naloxone product. Administratively, too little too late can be life-threatening. The CDC has noted the need for multiple doses of the current nasal naloxone product, which suggests that a higher dose product may be necessary for the successful resuscitation of overdose victims. Additionally, there is concern that administering the nasal product could potentially put caregivers at risk of contracting COVID-19.

    "Our 5 mg dose of naloxone delivered by intramuscular or subcutaneous injection has demonstrated significantly higher availability (naloxone in the blood) at 2.5 and 5 minutes (critical period) when compared to the current FDA-approved product. This should translate into more successful reversal of toxicity caused by higher potency synthetic opioids and potentially save many lives. We look forward to meeting with the FDA to discuss the responses that we have submitted to the agency to the issues raised in the most recent complete response letter relating to our New Drug Application for ZIMHI, and will continue to work with the FDA towards our goal to get ZIMHI approved."

    About Adamis Pharmaceuticals

    Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. The company's SYMJEPI (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. Adamis' naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose is currently under FDA review. Adamis is developing additional products, including treatments for acute respiratory diseases, such as COVID-19, influenza, asthma and COPD. The company's subsidiary, US Compounding Inc., compounds sterile prescription drugs, and certain nonsterile drugs for human and veterinary use by hospitals, clinics, surgery centers, and vet clinics throughout most of the United States.

       

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future results of operations or future financial performance, including, but not limited to the following statements: the extent of intellectual property protection that may be afforded by any issued patents or patent applications relating to ZIMHI product or the company's other products and product candidates; the severity of, and reasons for, the current opioid crisis; the company's beliefs concerning the safety or effectiveness of its ZIMHI product; the company's beliefs concerning the ability of its ZIMHI product to reverse toxicity caused by higher potency synthetic opioids and potentially save lives; the company's beliefs concerning the ability of its product candidates to compete successfully in the market; the company's beliefs concerning its ability to satisfactorily respond to the matters raised in the FDA's complete response letter ("CRL"); the company's beliefs concerning the information, data and actions that the FDA may require in connection with responding to the most recent CRL relating to ZIMHI or resubmitting the company's New Drug Application (NDA) relating to ZIMHI; the company's beliefs concerning the timing and outcome of any meeting with the FDA or appeal and formal dispute resolution process that the company may initiate; the company's beliefs concerning the timing and outcome of the FDA's review of the company's NDA relating to the ZIMHI product or any resubmitted NDA; and the results of any future clinical trials that the company may conduct relating to ZIMHI. Statements in this press release concerning future events depend on several factors beyond the company's control, including receipt of adequate funding to support these activities, the absence of unexpected developments or delays, market conditions, and the regulatory approval process. The FDA may require additional studies, or other actions, data or information, prior to any resubmission of the NDA. There can be no assurances that the company will be able to satisfactorily respond to the matters raised in the FDA's CRL or concerning the timing of any resubmission by us of the NDA responding to the CRL, concerning the timing or costs of any additional actions that may be required in connection with any resubmission of the NDA, that the FDA will approve any resubmitted NDA relating to our ZIMHI product or concerning the timing of any future action by the FDA on our NDA, that the company will be successful in any formal dispute resolution appeal process with the FDA, or that the product will be able to compete successfully in the market if approved and launched. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Adamis' actual results to be materially different from these forward-looking statements. Certain of these risks, uncertainties, and other factors are described in greater detail in Adamis' filings from time to time with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC's web site at http://www.sec.gov. Except to the extent required by law, Adamis expressly disclaims any obligation to update any forward-looking statements. The company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

    Contact Adamis



    Mark Flather

    Senior Director, Investor Relations

    & Corporate Communications

    Adamis Pharmaceuticals Corporation

    (858) 412-7951



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  3. SAN DIEGO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), today announced the closing of its underwritten public offering of 46,621,621 shares of its common stock, including 6,081,081 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares, at the public offering price of $1.11 per share. As a result of the underwriters' exercise of the option, the aggregate gross proceeds to Adamis from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the company, was approximately $51.7 million.

    Raymond James & Associates, Inc. acted as the sole book-running manager for the offering.

    The company intends to use…

    SAN DIEGO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), today announced the closing of its underwritten public offering of 46,621,621 shares of its common stock, including 6,081,081 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares, at the public offering price of $1.11 per share. As a result of the underwriters' exercise of the option, the aggregate gross proceeds to Adamis from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the company, was approximately $51.7 million.

    Raymond James & Associates, Inc. acted as the sole book-running manager for the offering.

    The company intends to use the net proceeds from this offering for general corporate purposes, which may include, without limitation, expenditures relating to research, development and clinical trials relating to its products and product candidates, capital expenditures, manufacturing, hiring additional personnel, acquisitions of new technologies or products, the payment, repayment, refinancing, redemption or repurchase of existing or future indebtedness, obligations or capital stock, and working capital.

    The securities described above were offered by the company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-226100) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on July 18, 2018. A final prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida, or by telephone at (800) 248-8863, or e-mail at .

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adamis Pharmaceuticals Corporation

    Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. The company's SYMJEPI (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. Adamis' naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose is currently under FDA review. Adamis is developing additional products, including treatments for acute respiratory diseases, such as COVID-19, influenza, asthma and COPD. The company's subsidiary, US Compounding Inc., compounds sterile prescription drugs, and certain nonsterile drugs for human and veterinary use by hospitals, clinics, surgery centers, and vet clinics throughout most of the United States.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the public offering and the intended use of the net proceeds from the offering and statements about future developments relating to company's product candidates. Such forward-looking statements include those that express plans, anticipation, intent, contingencies, goals, targets or future development and/or otherwise are not statements of historical fact. These statements relate to future events or future results of operations, including, but not limited to, the company's beliefs concerning the following statements: the intended use of proceeds from the offering described in this press release; and future developments regarding the company's products and product candidates. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the company's actual results to be materially different from these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and should not be relied upon as representing the company's views as of any subsequent date, and except as may be required by applicable law, we expressly disclaim any, undertake no, obligation to update or release publicly the results of any revisions to these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Certain of these risks, uncertainties, and other factors are described in greater detail in Adamis' filings from time to time with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC's web site at http://www.sec.gov.

    Contact:

    Mark Flather

    Senior Director, Investor Relations

    & Corporate Communications

    Adamis Pharmaceuticals Corporation

    (858) 412-7951



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  4. SAN DIEGO, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease, announced today the pricing of its previously announced underwritten public offering of 40,540,540 shares of its common stock at a public offering price of $1.11 per share, resulting in gross proceeds of approximately $45,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company. All shares of common stock to be sold in the public offering are being sold by Adamis.

    The offering is expected…

    SAN DIEGO, Jan. 29, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease, announced today the pricing of its previously announced underwritten public offering of 40,540,540 shares of its common stock at a public offering price of $1.11 per share, resulting in gross proceeds of approximately $45,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company. All shares of common stock to be sold in the public offering are being sold by Adamis.

    The offering is expected to close on February 2, 2021, subject to the satisfaction of customary closing conditions. The company has also granted the underwriters a 30-day option to purchase up to 6,081,081 additional shares of its common stock to cover over-allotments, if any.

    Raymond James & Associates, Inc. is acting as the sole book-running manager for the offering.

    The company intends to use the net proceeds from this offering for general corporate purposes, which may include, without limitation, expenditures relating to research, development and clinical trials relating to its products and product candidates, capital expenditures, manufacturing, hiring additional personnel, acquisitions of new technologies or products, the payment, repayment, refinancing, redemption or repurchase of existing or future indebtedness, obligations or capital stock, and working capital.

    The securities described above are being offered by the company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-226100) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on July 18, 2018. A preliminary prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement and an accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida, or by telephone at (800) 248-8863, or e-mail at .

    Before investing in the offering, you should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus, which provide more information about the company and the offering.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adamis Pharmaceuticals Corporation

    Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. The company's SYMJEPI (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. Adamis' naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose is currently under FDA review. Adamis is developing additional products, including treatments for acute respiratory diseases, such as COVID-19, influenza, asthma and COPD. The company's subsidiary, US Compounding Inc., compounds sterile prescription drugs, and certain nonsterile drugs for human and veterinary use by hospitals, clinics, surgery centers, and vet clinics throughout most of the United States.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the public offering and the intended use of proceeds from the offering and statements about the progress of the company's product candidates. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the company's filings with the SEC, and represent the company's views only as of the date they are made and should not be relied upon as representing the company's views as of any subsequent date. The company's actual results may differ materially from those contemplated by these forward-looking statements. Except to the extent required by law, the company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

    Contact:

    Mark Flather

    Senior Director, Investor Relations

    & Corporate Communications

    Adamis Pharmaceuticals Corporation

    (858) 412-7951

     



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  5. SAN DIEGO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease, announced today that it intends to offer to sell shares of its common stock in an underwritten public offering. The company expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual…

    SAN DIEGO, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease, announced today that it intends to offer to sell shares of its common stock in an underwritten public offering. The company expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Raymond James & Associates, Inc. will act as the sole book-running manager for the proposed offering.

    The company intends to use the net proceeds from this offering for general corporate purposes, which may include, without limitation, expenditures relating to research, development and clinical trials relating to its products and product candidates, capital expenditures, manufacturing, hiring additional personnel, acquisitions of new technologies or products, the payment, repayment, refinancing, redemption or repurchase of existing or future indebtedness, obligations or capital stock, and working capital.

    The securities described above will be offered by the company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-226100) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on July 18, 2018. A preliminary prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863, by e-mail at , or by accessing the SEC's website at www.sec.gov.

    Before investing in the offering, you should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the company has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about the company.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adamis Pharmaceuticals Corporation

    Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease.  The company's SYMJEPI (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis.  Adamis' naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose is currently under FDA review.  Adamis is developing additional products, including treatments for acute respiratory diseases, such as COVID-19, influenza, asthma and COPD.  The company's subsidiary, US Compounding Inc., compounds sterile prescription drugs, and certain nonsterile drugs for human and veterinary use by hospitals, clinics, surgery centers, and vet clinics throughout most of the United States.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed public offering and the intended use of proceeds from the offering and statements about the progress of development of the company's product candidates. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the company's filings with the SEC, and represent the company's views only as of the date they are made and should not be relied upon as representing the company's views as of any subsequent date. The company's actual results may differ materially from those contemplated by these forward-looking statements. Except to the extent required by law, the company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

    Contacts:

    Mark Flather

    Senior Director, Investor Relations

    & Corporate Communications

    Adamis Pharmaceuticals Corporation

    (858) 412-7951



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