Adamis Pharmaceuticals Corp (NASDAQ: ADMP) shares were down 14% in early trading Thursday. On Wednesday, shares jumped 78% to 1.43, likely on the FDA news. The biopharmaceutical firm announced a request to the FDA for the investigational use of its COVID-19 treatment drug Tempol.
The meeting that followed the request tendered by Adamis Pharmaceuticals gave FDA-specific guidelines regarding the drug’s chemistry, manufacturing, and clinical aspects.
Currently, the pharmaceutical firm plans to seek government and private arbitration for the funding to study the treatment and a preventive measure of COVID-19
Its drug Tempol showed anti-inflammatory, anticoagulant, and anti-oxidant activity in patients. The cells are affected by inflammatory cytokines and reactive oxygen species that are because of Acute Respiratory Distress Syndrome, which is the main cause of lung capacity been degraded. Tempol used shows a decrease in cytokines and with its dosage shows signs of a decrease in the effect of reactive oxygen species. The drug also shows evidence of decrease platelet agitation, a problem that was observed and found in COVID-19 patients.
Many experts claim the drug plays a pivotal role not only in combatting COVID-19 but actually will be possible in decreasing hospitalization. These claims will help cut healthcare costs to a substantial amount. With new mutations popping up all over the world, a new form of treatment and therapies should be reviewed.
The company is famous for its epinephrine injection, which is useful to treat acute allergic reactions such as anaphylaxis. Its injection is FDA-approved for emergency use. The company also makes sterile drugs for humans and animals.