Adamis Pharmaceuticals Stock Soars To More Than Double - What's Going On?

Adamis Pharmaceuticals Corporation ADMP shares are trading higher today, and the stock began trading on the REG SHO Threshold Security List.

Monday, the company, in an SEC filing, said it sold certain assets related to its discontinued pharmacy compounding business. The company sold the land, building, and certain intellectual property assets related to its discontinued compounding business to FarmaKeio Pharmacy Network for around $2 million.

On Friday, Adamis announced to fund an unrestricted research grant to the Leiden University Medical Center Anesthesia and Pain Research Unit.

The objective of this collaboration with Adamis will be to assess the efficacy of 5mg intramuscular Zimhi versus 4mg of intranasal naloxone, which is comparable to Narcan and the respective number of doses required to reverse fentanyl-induced respiratory depression.

Adamis stock is gaining on heavy volume, with a session volume of 15.74 million shares traded, compared to the trailing 100-day volume of 154.573K shares.

According to data from Benzinga Pro, CFRX has a 52-week high of $28 and a 52-week low of $1.31.

Adamis Pharmaceuticals merged with DMK Pharmaceuticals Corporation after the company initiated a process to explore a range of strategic and financing alternatives.

The company also announced a 1-for-70 reverse stock split in May.

Price Action: ADMP shares are up 176.20% at $3.95 on the last check Tuesday.