Anyone see the S-1 amendment filed today? 1-17 reverse split ratio, $39 million to be raised (was $26 million in the initial S-1), $10 approximate initial price target after RS and Nasdaq listing
NASDAQ listing approved and filed today
CERTNAS Documents Certification by the National Association of Securities Dealers Automated Quotation approving securities for listing
Acc-no: 9999999997-13-017230 (34 Act) Size: 1 KB 2013-12-12 001-36242
The big question is where what will the market cap be after the dust settles from the reverse split, Nasdaq listing and capital raise of $39 million. The current market cap is about $50 million.
Reelly brokerbuz? Where did you get this information? "the offering will close tonight and we will see the adjusted price in the morning." There wasn't a PR issued by the company stating such, so how do you know that?
cheknin, Nasdaq listing approved and S-1 effective today with a significant increase in funding from the initial offering. Reverse split next. Any other questions?
Yes, but a good starting point with the recapitalization of admp. With nasadaq listing, funding for epi approval and cancer clinical trials, full ownership of 3 M Taper, and extremely low float (only 6.1 million shares outstanding), the "new Adamis" will see a valuation reset by the market within the next few months as the market and institutions digest and analyze
There is currently ZERO institutional ownership, being that ADMP has been an OTC stock until last week. It should be interesting when that starts to happen, because as we all know, this is what really drives stocks up or down
Would be nice to see a press release soon from Adamis confirming the final payment to 3M to fully acquire the Taper product.
Adamis Gets 3M's Taper DPI Tech License
By Zacks Equity Research August 9, 2013 6:10 PM
Emerging pharmaceutical firm Adamis Pharmaceuticals Corporation (ADMP) has recently acquired the exclusive license to 3M Company's (MMM) Taper Dry Powder Inhaler (:DPI) technology. With an additional payment, Adamis will also be entitled to acquire this technology currently under development phase. According to the agreement, Adamis made an initial payment to exclusively license the Taper technology through Dec 31, 2013 and will make an additional payment before the same date to fully acquire the Taper technology.
The DPI technology will be used for the treatment of asthma and chronic obstructive pulmonary disease. This technology can be used with single or combination drugs and is very competitive in comparison to other similar products available in the market.
3M remains focused on inventing new products and maintaining its competitive advantage worldwide. The rise in demand for such innovative 3M product services and technology is likely to augment its overall revenues. 3M is one of the leaders to develop this novel inhalation drug delivery technology and has more than 50 years of expertise in this field.
With this acquisition, Adamis will be able to strengthen its respiratory product pipeline. The exclusive license and acquisition of the 3M Taper DPI technology provide Adamis with an opportunity in the branded generic asthma/COPD market and is expected to help the company to generate additional returns for its shareholders. GlaxoSmithKline's (GSK) Advair Diskus is a competitor of the Taper technology.
The dust is settled on the recapitalization, funding and Nasdaq listing. Now it's time for management to execute for it's shareholders in 2014. Here are some of your objectives to carry out for the coming year, Adamis management team: Complete the acquisition of the Taper product from 3M, get the EPI filed with FDA for approval, report APC 100 clinical trial results, start TeloBvax phase II clinical trials and clinical trials for the other pharma and biotech products, do a licensing deal on the C31G product or file an NDA with FDA for approval, do development licensing deals with large pharma for one or more products. And while they are at it, coverage initiation from a few analysts like Cowen & Co. would be nice.
"Pursuant to the terms of the agreement, Adamis made an initial non-refundable payment to 3M of $3 million and obtained an exclusive worldwide license to the assets and intellectual property in all indications in the dry powder inhalation field through December 31, 2013. The agreement provided that upon a subsequent closing payment by Adamis of an additional $7 million before December 31, 2013, and satisfaction of other customary closing conditions, ownership of the assets and intellectual property would be transferred to Adamis, with Adamis granting back to 3M a license to the intellectual property assets outside of the dry powder inhalation field. At a closing held on December 27, 2013, the Company made the additional $7 million payment to 3M, and ownership of the assets and intellectual property were transferred to the Company as contemplated by the agreement."
In the same 8K filing today they also announced they pay off of the outstanding notes..
'As contemplated by the registration statement, the Company used approximately $7.25 million of the proceeds from the offering to pay in full all amounts owed under the Notes. As a result, the Notes are no longer outstanding. "
Strange that this compound is not mentioned in their pipeline on the web site or in the S-1 public offering filings? Do they not want investors to know about this for some weird reason? It's a phase 3 product that should included in the pipeline, but is curiously not.
Adamis Announces Positive Results of Study Concerning C31G in Treating Herpes Simplex Virus (HSV) Eye Infection
Adamis Pharmaceuticals Corporation (OTCQB: ADMP) today announced that a recently published study conducted by university researchers found that the company's antimicrobial and spermicidal agent, C31G, was effective in treating Herpes Simplex Virus (HSV) in an eye infection (ocular keratitis) animal model. Adamis previously reported that C31G successfully completed a Phase 3 contraceptive clinical trial in humans conducted by the National Institute of Child Health and Human Development.
Dr. James M. Hill from Louisiana State University Health Science Center and several other investigators demonstrated that in their study C31G was effective in treating HSV in an animal model of eye infection using live rabbits. The rabbit eye model utilized for the study mimics the disease in humans. In the same study the researchers also reported that ocular administration of C31G was safe and well tolerated, confirming earlier clinical studies that established C31G safety and tolerability in other applications. The study titled "The antimicrobial agent C31G is effective for therapy for HSV-1 ocular keratitis in the rabbit eye model" appears in the latest issue of the scientific journal Antiviral Research.
The same could be said about their allergy and respiratory products; how do they move the cancer products forward any differently than could the C31G? Revenue is revenue, no matter what product would produce it. Something is amiss here. Why would a compound that has successfully completed phase 3 not be mentioned in the company's pipeline and in the S1 for potential investors to see? Makes no sense at all
Would need to search through SEC filings, but my guess is that there is probably some restriction or huge payout to the former Cellegy management and / or shareholders that would be really bad for Adamis. Maybe some type of dilutive deal that would adversely effect Adamis, so they are sitting on it until they can work something out. Outside of that, it would be a really bad decision to have not pursue the approval or licensing of this phase 3 compound.
Found it in the 10K. This looks like the problem with C31G. It's quite shocking this was either intentionally withheld or mistakenly left out of the prospectus to potential investors in the offering that just closed....
"Before considering any actions to seek regulatory approval for a C31G product, further meetings with the FDA would likely be required to discuss the regulatory pathways for submitting an NDA for marketing approval, including whether any additional trials will be required before an NDA is submitted. In considering commercialization alternatives, we will likely seek to enter into an out-licensing or similar transaction with organizations that have a focus or business unit in the area of contraception. The C31G product candidate is held by our Biosyn, Inc. subsidiary and was acquired in 2004 with Cellegy’s acquisition of Biosyn. Provisions in the acquisition agreement between Biosyn and Cellegy, and in certain of the funding agreements and other agreements relating to the C31G product, provide for payments to the former Biosyn shareholders upon marketing approval by the FDA (or, in certain circumstances, certain foreign regulatory authorities) of C31G for one or more indications and payments to certain other third parties in the event of sales or other revenues relating to C31G or certain other events. In addition, sale or out-licensing of the C31G product candidate may require the consent of one or more such third parties. As a result, commercialization of the product may require renegotiation of the provisions relating to the former Biosyn shareholders and such third parties. Accordingly, there can be no assurances that we will be able to successfully conclude a transaction involving C31G or concerning the amounts that we might receive from any such transaction, or that any C31G product will be submitted for regulatory approval or will be approved or marketed."
So essentially, C31G is being held hostage by former Biosyn/Cellegy shareholders because the Adamis management team has not renegotiated the deal yet. What are they waiting for, and why would Adamis sit on such a valuable asset for so long when all they need to do is renegotiate the old deal with Biosyn?