Adamis Pharmaceuticals Changes Name to DMK Pharmaceuticals to Reflect New Strategic Focus
08 9월 2023 - 1:00AM
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP), a
commercial-stage biopharmaceutical company, today announced the
company changed its name to DMK Pharmaceuticals Corporation in
order to better reflect its new strategic focus on advancing small
molecules for the treatment of substance use disorders. In
conjunction with the name change, the company’s common stock is
expected to trade under the new Nasdaq ticker symbol “DMK” on or
about September 8, 2023. The CUSIP number for the common stock,
00547W307, will remain unchanged.
“The new DMK Pharmaceuticals is committed to
developing groundbreaking and innovative therapies to establish
itself as a leader in the treatment of substance abuse including
opioid and alcohol use disorders,” said Eboo Versi, MD, PhD, CEO of
Adamis, “Rebranding the company signifies our new strategic vision
and reinforces our commitment to a renewed corporate strategy.
Along with our flagship approved treatment for emergency treatment
of opioid overdose, ZIMHI, our lead clinical stage compound,
DPI-125 will be our core focus. DPI-125 is a novel molecule for the
treatment of opioid use disorder. Currently approved therapies are
old and the vast majority of sufferers are not getting this medical
treatment. I believe this is because they have unfavorable drug
scheduling resulting in limited access, and in many cases, patients
have to undergo opioid withdrawal symptoms prior to starting
treatment. It is my belief that DPI-125, if successfully developed,
will receive a more favorable drug scheduling and be a more
‘patient friendly’ treatment. DPI-125 is also being developed for
the treatment of moderate to severe pain. If clinical studies
confirm what we suspect from animal studies, this drug will not be
addictive and as such could even help to reduce the incidence of
opioid use disorder.”
DMK expects several potential significant
milestones for DPI-125 by the end of 2024 including: manufacture of
a transdermal delivery system; results of a respiratory depression
safety study compared to fentanyl; results of a pharmacokinetic
study in humans; and results of an abuse liability study compared
to current treatments for OUD and pain relief, in each case
assuming the availability of adequate funding and no unexpected
developments or delays. There can be no assurances that any of
these milestones will be achieved or will be achieved within the
anticipated time periods.
About DMK Pharmaceuticals
DMK Pharmaceuticals is a commercial stage
neuro-biotech company primarily focused on developing and
commercializing products for the treatment of opioid overdose and
substance use disorders. DMK’s commercial products approved by the
FDA include ZIMHI® (naloxone) Injection for the treatment of opioid
overdose, and SYMJEPI® (epinephrine) Injection for use in the
emergency treatment of acute allergic reactions, including
anaphylaxis. The Company is focused on developing novel therapies
for opioid use disorder (OUD) and other important neuro-based
conditions where patients are currently underserved. DMK believes
its technologies are at the forefront of endorphin-inspired drug
design with its mono, bi- and tri-functional small molecules that
simultaneously modulate critical networks in the nervous system.
DMK has a library of approximately 750 small molecule neuropeptide
analogues and a differentiated pipeline that could address unmet
medical needs by taking the novel approach to integrate with the
body’s own efforts to regain balance of disrupted physiology. The
Company’s lead clinical stage product candidate, DPI-125, is being
studied as a potential novel treatment for OUD. DMK also plans to
develop the compound for the treatment of moderate to severe pain.
The Company’s other development stage product candidates include
DPI-221 for bladder control problems and DPI-289 for severe end
stage Parkinson’s disease. For additional information about DMK
Pharmaceuticals, please visit our website and follow us on Twitter
and LinkedIn.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are identified by
terminology such as “may,” “should,” “expects,” “plans,”
“anticipates,” “could,” “intends,” “target,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or
“continue” or the negative of these terms or other similar words.
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 anticipated future events or future
results of operations, including, but not limited to, statements
concerning (i) the ability of the Company to raise additional funds
required to sustain the Company’s ongoing operations and fund the
anticipate development activities regarding DPI-125, (ii) whether,
if successfully developed, DPI-125 will receive a more favorable
drug scheduling or be a more patient friendly treatment, and (iii)
the potential benefits of DPI-125 if successfully developed. 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 the results
anticipated by such forward-looking statements. These statements
also assume that the Company will have or are able to obtain
sufficient funding to support the activities described in this
press release, continue the Company’s operations and satisfy the
Company’s liabilities and obligations in a timely manner. There can
be no assurance that this will be the case. Also, such statements
assume that there are no significant unexpected developments or
events that delay or prevent such activities from occurring. The
Company will require additional funds to sustain operations,
satisfy our obligations and liabilities, and fund its ongoing
operations. There are no assurances that required funding will be
available at all or will be available in sufficient
amounts. Failure to timely obtain any required additional
funding, or unexpected developments or events, could delay the
occurrence of such events or prevent the events described in any
such statements from occurring which could adversely affect our
business, financial condition and results of
operations. If we cannot continue as a viable
entity, we might be required to reduce or cease operations or seek
dissolution and liquidation or bankruptcy protection, and our
stockholders would likely lose most or all of their investment in
us. Accordingly, you should not rely upon forward-looking
statements as predictions of future events. Adamis cannot assure
you that the events and circumstances reflected in the
forward-looking statements will be achieved or occur, and actual
results could differ materially from those projected in the
forward-looking statements. 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 and additional risks, uncertainties, and
other factors are described in greater detail in Adamis’ filings
from time to time with the SEC, including its annual report on Form
10-K for the year ended December 31, 2022, and subsequent filings
with the SEC, which Adamis strongly urges you to read and consider,
all of which are available free of charge on the SEC’s website at
http://www.sec.gov.
Investor and Media Contact:Robert
UhlICR Westwicke619.228.5886
Adamis Pharmaceuticals (NASDAQ:ADMP)
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Adamis Pharmaceuticals (NASDAQ:ADMP)
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