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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Adamis Pharmaceuticals Corporation    ADMP

ADAMIS PHARMACEUTICALS CORPORATION

(ADMP)
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ADAMIS PHARMACEUTICALS CORP : Other Events (form 8-K)

11/16/2020 | 05:26pm EST

Item 8.01 Other Events

On November 16, 2020, Adamis Pharmaceuticals Corporation ("Adamis" or the "Company") issued a press release announcing that after the close of U.S. markets on November 13, 2020, it received a Complete Response Letter ("CRL") from the U.S. Food & Drug Administration ("FDA") regarding the Company's resubmitted New Drug Application ("NDA") for its ZIMHI™ high-dose naloxone injection product for the treatment of opioid overdose. A CRL is issued by the FDA'sCenter for Drug Evaluation and Research when it has completed its review of a file and questions remain that preclude the approval of the NDA in its current form. The CRL stated that the FDA determined that it cannot approve the Company's NDA in its present form and provided recommendations needed for resubmission. The questions raised by the FDA related generally to new Chemistry, Manufacturing and Controls (CMC) issues. The Company is reviewing the CRL, plans to provide the FDA with additional analysis and information in order to attempt to satisfy the CRL items, and intends to request a Type A meeting or consider other options to resolve the issues.

A copy of the Company's press release is attached hereto as Exhibit 99.1 is incorporated into this item by reference.

Forward Looking Statements

This Current Report on Form 8-K 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 its ability to satisfactorily respond to the matters raised in the FDA's CRL; the company's beliefs concerning the information, data and actions that the FDA may require in connection with any resubmitted NDA relating to ZIMHI; the company's beliefs concerning the results of any future studies or clinical trials that the company may conduct relating to ZIMHI or its other products or product candidates; 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; the company's beliefs concerning its ability to commercialize ZIMHI and its other products and product candidates; the company's beliefs concerning the ability of its product candidates to compete successfully in the market; the company's beliefs concerning the safety and effectiveness of ZIMHI; the company's beliefs concerning its commercialization strategies; and the company's beliefs concerning the anticipated timing of any commercial launch of its ZIMHI product. 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. The FDA may require additional studies, and/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, or that the product will be able to compete successfully in the market if approved and launched. In addition, forward-looking statements concerning our anticipated future activities assume that we are able to obtain sufficient funding to support such activities and continue our operations and planned activities. As discussed in our filings with the Securities and Exchange Commission, we will require additional funding, and there are no assurances that such funding will be available if required. 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, 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, any forward-looking statements in this Report speak only as the date of this Report, and Adamis expressly disclaims any obligation to update any forward-looking statements.

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Financials (USD)
Sales 2020 18,3 M - -
Net income 2020 -33,9 M - -
Net Debt 2020 - - -
P/E ratio 2020 -4,02x
Yield 2020 -
Capitalization 168 M 168 M -
Capi. / Sales 2020 9,19x
Capi. / Sales 2021 6,61x
Nbr of Employees 151
Free-Float 98,6%
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Mean consensus HOLD
Number of Analysts 2
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Last Close Price 1,79 
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Managers and Directors
NameTitle
Dennis J. Carlo President, Chief Executive Officer & Director
Richard C. Williams Chairman
Karen K. Daniels Vice President-Operations
Robert O. Hopkins Chief Financial Officer, Secretary & VP-Finance
Ronald B. Moss Chief Medical Officer
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