Adamis Reviewing Alternatives; May Seek Bankruptcy Protection

Adamis Pharmaceuticals has initiated a process to explore a range of strategic and financing alternatives following the halt of its Phase 2/3 clinical trial examining the effects of Tempol in high risk subjects with early COVID-19 infection.

• Co. says options include partnership or sale of commercial products SYMJEPI and ZIMHI, a merger, sale, or reverse merger, and/or seeking additional financing
• Adamis may be required to seek bankruptcy protection or other alternatives if the company’s unable to complete a transaction
• Sees expense reductions including headcount and reduction or discontinuation of certain product development programs

NOTE

• Adamis Pharmaceuticals Corp. rose 17.5% in ...