U.S. markets open in 2 hours 15 minutes
  • S&P Futures

    3,891.00
    -7.75 (-0.20%)
     
  • Dow Futures

    31,476.00
    -33.00 (-0.10%)
     
  • Nasdaq Futures

    13,248.25
    -31.50 (-0.24%)
     
  • Russell 2000 Futures

    2,264.00
    -10.80 (-0.47%)
     
  • Crude Oil

    60.71
    +0.07 (+0.12%)
     
  • Gold

    1,726.20
    +3.20 (+0.19%)
     
  • Silver

    26.34
    -0.34 (-1.27%)
     
  • EUR/USD

    1.2029
    -0.0030 (-0.25%)
     
  • 10-Yr Bond

    1.4460
    0.0000 (0.00%)
     
  • Vix

    23.40
    -4.55 (-16.28%)
     
  • GBP/USD

    1.3917
    -0.0004 (-0.03%)
     
  • USD/JPY

    106.9290
    +0.1990 (+0.19%)
     
  • BTC-USD

    48,796.97
    +1,059.86 (+2.22%)
     
  • CMC Crypto 200

    982.75
    -3.90 (-0.40%)
     
  • FTSE 100

    6,619.82
    +31.29 (+0.47%)
     
  • Nikkei 225

    29,408.17
    -255.33 (-0.86%)
     

Adamis (ADMP) Submits Tempol IND for COVID-19, Shares Soar

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

Shares of Adamis Pharmaceuticals Corporation ADMP surged 77.6% after it submitted an investigational new drug (IND) application to the FDA to begin a clinical study onTempol for thetreatment and prevention ofCOVID-19. The submission of the IND was done after the company had a Pre-IND meeting with the FDA, in which the agency gave specific recommendations on Chemistry, Manufacturing and Controls (CMC) and Clinical aspects to be included in the IND.

In the past year, shares of the company have increased 194.8% compared with the industry’s growth of 5%.

 

The company plans to seek government and/or non-government funding to conduct the study.

Tempol has demonstrated a unique antioxidant and anti-inflammatory activity in pre-clinical studies. Tempol specifically targets Acute Respiratory Distress Syndrome (ARDS), which is the major cause of death inCOVID-19 patients. The study data showed that Tempol lowered the harmful effects of reactive oxygen species (ROS). Further, tempol decreased platelet aggregation, a problem that is observed in many COVID-19 patients.

Tempol has also been effective in decreasing the genes related to hypoxia. Hypoxia is detrimental with severe disease and a poor outcome. Controlling hypoxia and the cytokine storm can be considered essential to the successful treatment of COVID-19.

Per Adamis, tempol could play a vital role not only in the treatment of COVID-19 but actually in preventing hospitalization. 

Adamis in-licensed tempol from Matrix. The license includes the worldwide use of Tempol for the treatment of all respiratory diseases, including asthma, respiratory syncytial virus, influenza and COVID-19.  

Several other companies have also come up with treatments for this virus. In November 2020, the FDA granted emergency use authorization to two monoclonal antibody treatments –Eli Lilly’s LLY bamlanivimab and a combination of casirivimab and imdevimab, made by Regeneron REGN. Both treatments have been approved for non-hospitalized adults and children above the age of 12 with mild to moderate COVID-19 symptoms who are at risk for developing severe COVID-19 or being hospitalized for it.

Gilead Sciences’ GILD antiviral drug, Veklury (remdesivir), was approved by the FDA in October 2020 to treat COVID-19. The drug may be used to treat adults and children aged 12 years and older and weighing at least 88 pounds, who have been hospitalized for COVID-19. 

 

Adamis Pharmaceuticals Corporation Price

Adamis Pharmaceuticals Corporation Price
Adamis Pharmaceuticals Corporation Price

Adamis Pharmaceuticals Corporation price | Adamis Pharmaceuticals Corporation Quote

 

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Regeneron Pharmaceuticals, Inc. (REGN) : Free Stock Analysis Report
 
Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report
 
Eli Lilly and Company (LLY) : Free Stock Analysis Report
 
Adamis Pharmaceuticals Corporation (ADMP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research