Adamis Pharma Shares Fall Despite US Patent Covering Naloxone

U.S. Patent and Trademark Office has allowed a patent to one of the patent applications by Adamis Pharmaceuticals Corp (NASDAQ: ADMP) related to its ZIMHI high-dose naloxone injection product candidate, intended for opioid overdose.
The allowed claims comprise a naloxone composition at a dose greater than or equal to five milligrams configured for administration as an injection.
"Our 5 mg dose of naloxone delivered by intramuscular or subcutaneous injection has demonstrated significantly higher availability (naloxone in the blood) at 2.5 and 5 minutes (critical period) when compared to the current FDA-approved product", said Dr. Dennis J. Carlo, President, and CEO.
Last year, the company received an FDA response letter for the ZIMHI application for opioid overdose, citing Chemistry, Manufacturing, and Controls issues.
The company says it looks forward to meeting with the FDA to discuss the responses submitted to the agency's response letter for ZIMHI.
Price Action: ADMP stock is down 7.01% at $1.46 in market trading hours on last check Wednesday.