Adamis Pharmaceuticals Corp (NASDAQ:ADMP) issued an update on the development of exploring commercialization options pertaining to the commercial release of its SymjepiTM Injection 0.3mg offering, for the emergency cure of allergic reactions including anaphylaxis.
Dr. Dennis J. Carlo, the CEO and President of Adamis, expressed that as reflected in their earlier statements, since obtaining FDA approval last year they have involved in a confidential procedure with the objective to maximize the value of this resource, including looking for a commercial partner to release Symjepi in the U.S. He knows several investors have become upset with the time that this procedure has taken. Carlo said that he is frustrated that the procedure is taking longer than they initially anticipated. However, this procedure has been neither linear or simple. They remain committed to launching Symjepi to the market.
While the procedure is still ongoing, they are now in talks with two prospective partners. He is assured both groups are efficient of producing value for Symjepi in the industry. Each group is involved in what they consider are later phases of diligence, which may comprise talks with prospective drug buyers, distributors and wholesalers, that they consider will help enhance their commercial plans. Though of course no assurances are probable, his belief is that they are finally approaching the conclusion of this procedure, and he is hopeful that their next communication will be to report a definitive deal and offer information relating when Symjepi may be accessible in the market.
Symjepi Injection 0.3mg marks as an FDA-approved offering, for the emergency cure of allergic reactions including anaphylaxis, intended for subjects weighing 66 pounds or greater. Additionally, to the 0.3 mg offering, Adamis has earlier reported that the FDA had approved its prior authorization supplement for a lower-dose version of Symjepi planned to potentially treat subjects weighing 33-65 pounds.