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Adamis Pharmaceutical Corp. (ADMP) Stock Declining in Early Trades Today, Here’s why.

Adamis Pharmaceutical Corp. (ADMP) is a clinical-stage biotherapeutics company associated with the development and commercialization of products related to allergy, opioid overdose, and respiratory or inflammatory disorders. SYMJEPI Injections are used in emergency treatment for anaphylaxis. ZIMHI Injections are utilized in opioid overdose while Tempol or APC410 is under the developmental phase for treating COVID-19 and other respiratory disorders patients.

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The price of ADMP stock during the regular trading on January 10, 2022, with a tremendous 26.9% leap was $0.73. At last check in the current market on January 11, 2022, the stock sink by 3.99%.

ADMP: Events and Happenings

On January 10, 2022, ADMP reported that it submitted a Fast Track Application to FDA for using Tempol for treating COVID-19. Tempol had reported antiviral, anti-inflammatory, and antioxidant activities. It has a unique safety profile and mechanism of action.

On December 01, 2021, ADMP reported that added data supported the naloxone hydrochloride dose for being suitable for successful resuscitation from fentanyl overdoses, thus it saves more lives.

On November 23, 2021, ADMP reported about the receipt of the notification from The Nasdaq Stock Market regarding regaining compliance with NASDAQ Marketplace, after the company’s filing of Quarterly Reports on Form 10-Q.

ADMP: Key Financials

On November 22, 2021, ADMP reported its financial results for the three months ended September 30, 2021. Some of the highlights are as follows

Revenue and Assets

Revenue for the third quarter of 2021 was $0.75 million as compared to the same period of 2020 when it was $0.86 million. Total current assets of the company for Q3 2021 were $41.8 million.

 Net Loss per Share

Basic and diluted net loss per share for Q3 2021 was $12.3 million or $0.08 per share as compared to the same period of 2020 when it was $11.3 million or $0.15 per share.

On October 18, 2021, ADMP reported about the approval granted by FDA to its ZIMHI 5 mg/0.5 mL product which is used for treating opioid overdose. On September 02, 2021, ADMP reported that it initiated the dosing of patients for Phase 2/3 clinical trial for Tempol.

Conclusion

ADMP stock showed a 10% incline in comparison to the last month. The analysts are attributing the increase to the company’s major pipeline products. Also, the company outperformed in the regular trading, but in the current aftermarket, the stock price fell possibly due to the company’s report regarding submission of fast-track application to FDA. The company has the potential to outpace its contemporaries through its research pipeline projects.

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