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Summary
- Adamis stocks shot up by over 50 per cent on Friday morning, January 22.
- The shares had surged by about 75 per cent on Wednesday after it announced submitting an Investigational New Drug (IND) named Tempol to the FDA for a COVID-related clinical study.
- Stocks of this biopharmaceutical enterprise have ballooned by about 285 per cent in 2021 to date.
Stocks of Adamis Pharmaceuticals Corporation (NASDAQ:ADMP, ADMP:US) have been rallying for a while now after the company announced two important corporate developments this week.
Adamis stocks shot up by over 50 per cent on Friday morning, January 22, following the news of its SYMJEPI® drug being available to the subscribers of the Walgreens Prescription Savings Club program at a discounted price.
The shares had surged by about 75 per cent on Wednesday after it announced submitting an Investigational New Drug (IND) named Tempol to the US Food and Drug Administration (FDA) for a clinical study to see its potential to treat COVID-19.
Let’s find a little more about the recent stock performance of Adamis Pharmaceuticals to understand its profile better.
Adamis Pharmaceuticals Corporation (NASDAQ:ADMP, ADMP:US)
Current Stock Price: US$ 1.8
Stocks of this biopharmaceutical enterprise have ballooned by about 285 per cent in 2021 to date. The scrips were up by 130 per cent over the last three months and surged by almost 80 per cent in the last six months.
Adamis Pharmaceuticals saw over 40.8 million stocks exchange hands in the last 10 days, and record a price-to-book (P/B) ratio of 6.29 and a debt-to-equity (D/E) ratio of 0.25, as per the data available on the TMX Group platform.
©Kalkine Group 2020
On the financial front, Adamis reported a 27 per cent year-over-year (YoY) slip in its revenue of US$ 4.3 million for the third quarter of 2020, a decrease it attributed to the COVID-19 pandemic.
Adamis’ selling, general and administrative expenditure amounted to US$ 5.8 million, while its research and development costs stood at US$ 1.7 million in the Q3 2020 ending 30 September 2020.
The health care company’s cash and cash equivalents amounted to about US$ 12.4 million by the end of September 2020.
The amount of cash Adamis Pharmaceuticals had in hand at the end of the third quarter also included the net proceeds of about US$ 10.7 million from its equity offering held in September, the company said in its latest financial report.
