Adamis Pharmaceuticals Corporation (ADMP) experienced an increase of 42.92% in premarket after ADMP Receives FDA Approval for ZIMHI. However, the last trading session concluded at $1.13 with an increase of 2.73%.
ADMP Receives FDA Approval for ZIMHI
ADMP announced on 18th October 2021 that ZIMHI product has been authorized by the U.S. Food and Drug Administration (FDA). ZIMHI is an FDA-approved high-dose naloxone injection for the treatment of opioid overdose. Moreover, it acts by preventing or reversing the opioid’s effects, such as severe sleepiness, decreased breathing, and loss of consciousness.
Drug overdoses resulted in roughly 96,779 fatalities in the United States for the 12-month period as stated by ADMP. According to figures provided by the Centers for Disease Control and Prevention (CDC), there was a 29 percent increase over the previous 12-month period. Moreover, drug overdoses are now the top cause of death among Americans under the age of 50. Lastly, the higher intramuscular doses of naloxone in ZIMHI should result in more rapid and higher levels of naloxone in the systemic circulation, which in turn, should result in more successful resuscitations
New Appointment to Board of Directors
ADMP announced that Meera J. Desai, Ph.D., is the new director and member of the company’s board of directors on 4th October 2021. Dr. Desai is the founder and managing partner of Karana Biotech. It is a boutique consultancy business located in Silicon Valley that helps pharmaceutical and biotech companies through complicated international licensing, marketing, and other strategic deals. Moreover, she was the head of corporate development at AcelRx Pharmaceuticals prior to launching Karana Biotech. Dr. Desai formerly worked at Novartis Pharmaceuticals, Nektar Therapeutics, and ALZA Corporation in the pharmaceutical development field. Later, she joined ADMP.
Drew University awarded her a Bachelor of Arts in chemistry, and Iowa State University awarded her a Doctorate in Analytical Chemistry. Dr. Desai will serve on the Adamis Board’s Audit, Compensation, and Nominating and Governance committees. The company happily welcomes Dr. Desai to the Board of Directors and looks forward to collaborating with her to create long-term value. Her extensive experience in worldwide pharmaceutical licensing, as well as her background in medication research and commercialization, will assist ADMP in fine-tuning the business strategy in order to maximize our product pipeline.
Phase 2/3 Clinical Trial for Tempol in the Treatment of COVID-19
ADMP reported on 2nd September 2021 that Tempol, an oral antiviral product candidate, is being tested in adult patients with proven COVID-19 infection in a Phase 2/3 clinical study. Firstly, Tempol possesses antiviral, anti-inflammatory, and antioxidant properties, according to preclinical research. Secondly, Tempol has recently been recognized by the National Institutes of Health (NIH) as a possible COVID-19 home therapy.
This therapy would certainly avoid serious illness. Thirdly, Tempol appeared to have a significant antiviral effect against the virus that causes COVID-19 in laboratory experiments, according to recent NIH research. Lastly, Tempol might possibly lessen COVID-19 symptoms by relaxing inflammation, preserving organs from injury, and minimizing platelet clumping.
