Home Trending Stocks Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) stock slumped in the afterhours trading session; here’s...

Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) stock slumped in the afterhours trading session; here’s why

At last check, in the after-hours trading session, ADMP stock had slumped by-7.48% to $0.99. ADMP stock previously closed the session at $1.07 gaining 40.07%. The stock volume traded for 52.04 million shares while the average trade volume for the past 3 months has been 6.66M.

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ADMP stock’s operational background

Adamis Pharmaceuticals Corporation is a biopharmaceutical company that specifically focuses on, designing, developing, and marketing products to deliver for the unmet needs of patients. Biopharma produces specialty treatments for the demand in the therapeutic market specifically for allergy and respiratory disease. The company operates in the United States.


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The product offerings of Adamis

Adamis’ leading candidate is a pharmaceutical product called Symjepi Injection which is an epinephrine pre-filled syringe (PFS). The purpose of Symjepiis for emergency treatment applications such as acute allergic reactions, like anaphylaxis. The company also provides treatment of asthma through its product known as fluticasone (APC-4000) which is a dry powder inhaler as well as beclomethasone (APC-1000) which is a metered-dose inhaler product for asthma.

Adamis Pharmaceuticals Corporation, besides respiratory and allergy treatments, has also created medicines to fight dysfunctions and addictions. Erectile dysfunction also has a treatment made by the company known as tadalafil (APC-8000) and for opioid overdose, the company has produced an injection product known as naloxone (APC-6000).

Furthermore, ADMP stock provides corticosteroids, therapies for hormone replacement, products that are outsourced to hospitals, urological products, pain-relieving topical compounds, and certain animal-related veterinary products.

Announcing the release of financial result for full-year 2020

On 15th April 2021, Adamis Pharmaceuticals Corporation announced that it has released its financial result for the full year 2020 that ended on 31st December 2020. The company is providing a business update as well.

The ADMP stock stated that it has had a significantly positive year that ended with major advancements. The momentum in the success of operations in 2020 has propelled the company’s performance growth for the year 2021. The company is aiming to penetrate the market with its product known as SYMJEPI which has been transitioned by Adamis Pharmaceutical Corps to US WorldMeds. US WorldMeds is the commercial partner of ADMP stock. The company intends to resubmit the NDA to the FDA for ZIMHI in the treatment of overdoses of opioids. The company’s product known as Tempol is a novel patented compound that is used for the treatment of respiratory diseases which recently contains COIVD 19 respiratory treatment.

Here are the financial highlights of the company for the full year 2020;

  • The ADMP stock gained revenue of $16.5 million for FY 2020 compared to $22.1 million for FY 2019.
  • The company faced increased Selling, general and administrative expenses of $30.6 million compared to $25.3 million in FY 2019.
  • The R$D investment and expenses equaled $8.3 million compared to $10.4 million for the year 2019.
  • The cash and equivalents for the company were approximately $6.9 million approximately.

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Adamis Pharmaceutical Corps has given a business update for 2021

Adamis Pharmaceutical Corps is looking forward to the approval and commercial launch of ZIMHI after it resubmits NDA to FDA within 45 days of its announcement. The company also aims to start phase 2/3 trial of Tempol for COVID-19 patients in Q2 2021 and ongoing penetration of SYMJEPI in the US.

 

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