Adamis Pharmaceuticals Regains Compliance with NASDAQ Minimum Bid Price Requirement
August 05 2020 - 4:05PM
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced today
that it has received a letter from the NASDAQ Listing
Qualifications Staff (“Nasdaq”) notifying the company that as a
result of the closing bid price of the company’s common stock
having been at $1.00 per share or greater for at least
ten consecutive business days, the company has regained compliance
with Nasdaq’s minimum bid price requirement and the matter is now
closed.
Last year Adamis was notified by Nasdaq that it was not in
compliance with the minimum bid price rule because the closing bid
price of the company’s common stock had closed below $1.00 per
share for 30 consecutive business days, which is the minimum
required closing bid price for continued listing on the Nasdaq
Capital Market pursuant to Marketplace Rule 5550(a)(2). The
company received additional communications from Nasdaq on April
14th and April 21st indicating that ultimately extended the
deadline to regain compliance to December 21, 2020. From July
22, 2020 to August 4, 2020, the company’s closing bid price for
ADMP has been at $1.00 per share or greater.
About Adamis PharmaceuticalsAdamis
Pharmaceuticals Corporation is a specialty biopharmaceutical
company primarily focused on developing and commercializing
products in various therapeutic areas, including allergy,
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. Adamis’ naloxone injection product candidate,
ZIMHI, for the treatment of opioid overdose is currently under FDA
review with a target action date of November 15, 2020. Adamis
is developing additional products, including treatments for acute
respiratory diseases, such as COVID-19, influenza, asthma and
COPD. The company’s subsidiary, U.S. Compounding, Inc.,
compounds sterile prescription drugs, and certain nonsterile drugs
for human and veterinary use by hospitals, clinics, and surgery
centers throughout most of the United States.
Contact Adamis:Mark Flather Senior Director,
Investor Relations& Corporate Communications (858)
412-7951mflather@adamispharma.com
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