SAN DIEGO, Aug. 10, 2022 (GLOBE NEWSWIRE) —
SYMJEPI ® (epinephrine) Injection TEMPOL Financial Results Conference Call Information Management will host a live webcast/conference call today, August 10, 2022 at 4:30 p.m. ET / 1:30 p.m. PT, during which Company executives will review financial information for the second quarter of 2022 and provide a corporate update. U.S. Dial-in (Toll Free): (877) 423-9813 A live audio webcast of the conference call will also be available via this link. If you are unable to participate in the live call, a replay will be available shortly after the live event. To listen to the replay please visit the events page of the Adamis investor relations section of the company website at http://ir.adamispharmaceuticals.com/presentations. About Adamis Pharmaceuticals Adamis Pharmaceuticals Corporation is a commercial-stage biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. The Company’s SYMJEPI® (epinephrine) Injection products are approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. The Company’s ZIMHI™ (naloxone) Injection product is approved for the treatment of opioid overdose. Tempol is in development for the treatment of patients with COVID-19 and a Phase 2/3 clinical trial is underway. For additional information about Adamis Pharmaceuticals, please visit our website and follow us on Twitter and LinkedIn. Forward Looking Statements Contact:
Toll/International Dial-in: (201) 689-8573
Conference ID: 13731678
This press release 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: statements concerning the Company’s Phase 2/3 clinical trial for Tempol; statements concerning the activities and process of the DSMB, the timing and outcome of that process, and any subsequent meetings or interactions between the Company and the FDA following the DSMB review; the Company’s beliefs concerning the mechanisms of action, safety and effectiveness of Tempol and the potential commercial success of Tempol, if approved; the timing, progress or results of the Company’s Phase 2/3 clinical trial for Tempol or other studies or trials relating to Tempol; the Company’s beliefs concerning the timing and outcome of the investigation, and corrective and preventing actions, relating to the SYMJEPI manufacturing hold and product recall, and concerning the timing of resumption of manufacturing and commercial sales of SYMJEPI; the Company’s beliefs concerning the progress and success of the commercial launch of ZIMHI; the Company’s beliefs concerning the ability of its products and product candidates to compete successfully in the market; the Company’s beliefs concerning the safety and effectiveness of SYMJEPI, ZIMHI or its other products and product candidates; the Company’s ability to successfully commercialize the products and product candidates, itself or through commercialization partners; future development and regulatory actions concerning the Company’s product candidates; the Company’s beliefs concerning the benefits, enforceability, and extent of intellectual property protection afforded by patents and patent applications that it owns or has licensed and its rights under applicable license agreements, and its ability to enforce its patents and other intellectual property rights against third parties; statements about the Company’s strategies, objectives, future goals and achievements; and other statements concerning our future operations, activities and financial results. We may not achieve one or more of the target future milestones or achievements described in the press release either within the anticipated time periods or at all. In addition, forward-looking statements concerning our anticipated future activities assume that we have sufficient funding to support such activities and continue our operations and planned activities. Statements in this press release concerning future events depend on several factors beyond the Company’s control, including the absence of unexpected developments or delays, market conditions, and the regulatory approval process. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, which may cause the Company’s actual results to be materially different from the results anticipated by such forward-looking statements. We cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any 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, 2021, 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 web site at http://www.sec.gov.
Adamis Investor Relations
Robert Uhl
Managing Director
ICR Westwicke
619.228.5886
ADAMIS PHARMACEUTICALS CORPORATION AND SUBSIDIARIES | ||||||||
CONSOLIDATED BALANCE SHEET DATA (Unaudited) | ||||||||
June 30, 2022 | December 31, 2021 | |||||||
Cash and Cash Equivalents | $ | 8,875,925 | $ | 23,220,770 | ||||
Total Current Assets | 15,320,615 | 35,203,622 | ||||||
Total Assets | 17,694,435 | 38,297,987 | ||||||
Total Liabilities | 10,652,292 | 12,415,209 | ||||||
Accumulated Deficit | (296,837,649 | ) | (278,085,813 | ) | ||||
Total Stockholders’ Equity | 7,042,143 | 25,882,778 |
ADAMIS PHARMACEUTICALS CORPORATION AND SUBSIDIARIES | |||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS DATA (Unaudited) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||
Revenue, net | $ | 39,847 | $ | 1,275,474 | $ | 1,194,361 | $ | 2,608,153 | |||||||
Cost of Goods Sold | 689,178 | 1,796,243 | 2,152,760 | 3,641,480 | |||||||||||
Selling, General and Administrative Expenses | 4,205,934 | 4,934,491 | 7,588,630 | 8,452,542 | |||||||||||
Research and Development | 3,320,654 | 2,196,721 | 7,542,179 | 4,446,465 | |||||||||||
Loss from Operations | (8,175,919 | ) | (7,651,981 | ) | (16,089,208 | ) | (13,932,334 | ) | |||||||
Total Other Income (Expense), net | (159,535 | ) | (44,574 | ) | (2,436,000 | ) | (7,686,907 | ) | |||||||
Net Loss Applicable to Common Stock | $ | (8,397,221 | ) | $ | (9,313,730 | ) | $ | (18,751,836 | ) | $ | (24,692,964 | ) | |||
Basic & Diluted Loss Per Share | $ | (0.06 | ) | $ | (0.06 | ) | $ | (0.13 | ) | $ | (0.18 | ) | |||
Basic & Diluted Weighted Average Shares Outstanding | 149,815,683 | 148,886,141 | 149,717,104 | 139,228,658 | |||||||||||