Adamis Pharmaceuticals shares soar with heavy trading volume

DMK Pharmaceuticals

01/08/2023 18:52

** Shares of Adamis Pharmaceuticals  ADMP.O  last up 162% after
surging as much as 500% earlier on Tuesday, with trading volume
on track for record levels with no new announcements from the
company on the day
   ** ADMP early on Monday announced it would fund a research
grant to Leiden University Medical Center (LUMC) Anesthesia and
Pain Research Unit to assess efficacy of 5mg intramuscular ZIMHI
- an ADMP drug, already approved by the FDA for the treatment of
opioid overdose - versus 4mg intranasal naloxone - comparable to
NARCAN, a treatment from Emergent Biosolutions  EBS.N 
        ** ADMP shares added just 3 cents to $1.43 on Monday
following that announcement
    ** Shares in Emergent, which was approved to sell Narcan
over the counter in March, were up 14.1% at $7.85 on Tuesday
    ** Last week, the U.S. Food and Drug Administration approved
the prescription-free sale of a second opioid overdose reversal
drug, its manufacturer Harm Reduction Therapeutics  
    ** ADMP shares last traded at $3.75 after earlier hitting a
high of $8.28 earlier in the session
    ** ADMP trading volume last at 17,158,991 compared with
10-day moving average of 1,615,215
        ** Tuesday's gains put ADMP market cap at ~$10.5 mln.
Over $80 mln worth of company's shares exchanged as of
mid-afternoon
  

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))