Adamis Pharma (ADMP) Plunges 28% As Covid Drug Candidate Shows No Efficacy
Adamis Pharma (ADMP) fell 28% on news of their clinical trial. Adamis released interim analysis of their Phase 2/3 trial of Tempol in high-risk subjects with Covid-19. The trial did not meet its primary endpoint, and based on the recommendation from the DSMB, the Company has halted the trial.
“We are obviously disappointed that the study did not meet its endpoints,” said Ron Moss, MD, Chief Medical Officer of Adamis. “Much of the preclinical work on Tempol for COVID-19 examined the effects of the drug on severe illness. This trial did not meet its primary endpoint, but we are exploring the possibility that vaccinations and the less virulent variants (Omicron) during the trial period may have obscured an effect of Tempol. This speculation is based on the lower-than-expected observed hospitalization rate in this trial (less than 1%) compared to other COVID-19 treatment trials. We will continue to analyze the data to determine if we believe Tempol can be utilized in other COVID patient populations including those with more severe illness or immunocompromised. I would like to thank our clinical research partners, the trial investigators and all the trial subjects for their participation.”
About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a specialty 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 has been conducted. For additional information about Adamis Pharmaceuticals, please visit our website and follow us on Twitter and LinkedIn.