Here’s Why Adamis Pharmaceuticals Shares Surged 19 Percent

02:34 12/06/2017

A series of positive press releases this past few days including an FDA approval in mid June has helped lift shares of Adamis Pharmaceuticals Corporation ADMP  . The stock popped over 19 percent today piercing through the 50 & 200 day moving averages with a high of day of $5.05 and a closing quote right below the $5.00 mark.

On Monday Adamis announced that it has submitted an investigational new drug (IND) application to the U.S. Food and Drug Administration (FDA) to begin testing the drug compound naloxone in human patients. Naloxone is an opioid antagonist used to treat narcotic overdoses.

The company intends to develop a naloxone injection product candidate utilizing the same patented SymjectTM syringe drug delivery platform used in Adamis’ approved SymjepiTM product, which is an epinephrine injection drug/device combination for the emergency treatment of acute allergic reactions including anaphylaxis.

Symjepi is a syringe prefilled with the hormone epinephrine, which helps stop life-threatening allergic reactions from insect stings and bites, foods such as nuts and eggs, or certain medications.

Symjepi also is smaller than EpiPen, so it's easier to fit in a pocket or purse. Most children and adults with severe food or insect allergies carry a device wherever they go and leave a spare at home, school or work.

Last week Adamis announced the submission of a prior approval supplement to the U.S. Food and Drug Administration (“FDA”) for a pediatric version (0.15mg) of Symjepi™. Being an FDA approved product, Symjepi (epinephrine) Injection 0.3mg is for the emergency treatment of allergic reactions, 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.

Dr. Dennis Carlo, President and CEO of Adamis, stated, “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."

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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