“We have controlled ourselves to achieve all of our internal goals for 2021,” said Dennis J. Carlo, Ph. D. , president and chief executive officer of Adamis Pharmaceuticals. “Among them, we began enrolling patients in a phase 2/3 clinical trial that compared Tempol as a remedy for COVID-19, resubmitted our NDA for ZIMHI, and subsequently obtained FDA approval. “
Product and pipeline updates and corporate developments
ZIMHI
SYMJEPI
TEMPORARY
COMPOUND IN THE UNITED STATES
Financial results
Despite significant accumulation in SYMJEPI’s retail scripts and unit sales in 2021 compared to 2020, reported net income from ongoing operations for the year ended December 31, 2021 was $2. 2 million compared to $2. 8 million in 2020, reflecting the effect and having an effect of a $2. 0 million reserve reflected in the financial statements of the Company in connection with the withdrawal of SYMJEPI.
Following the voluntary retirement of SYMJEPI in March, we have set aside approximately $2. 0 million in earnings relief for the year ending in 2021. The company may recover part or all of the cost of recalling certain third-party components, depending on our manufacturer’s conditions. However, the amount of charge and recovery cannot be made in our minds at this time.
Selling, general and administrative expenses for the years ended December 31, 2021 and 2020 were $16. 1 million and $20. 1 million, respectively. The minimization is basically due to minimizing expenses similar to legal fees, repayment similar to layoffs of workers, adding the repayment lost in shares, and depreciation and amortization.
The investigation and expenses were approximately $11. 3 million and $8. 0 million for fiscal years ending December 31, 2021 and 2020, respectively. Increased R expenses
Net loss from discontinued operations for the twelve months ended December 31, 2021 and 2020 $11. 2 million and $13. 5 million, respectively. The decrease in loss is basically due to compensation with the gain on the sale of assets.
Cash and cash equivalents as of December 31, 2021 totaled approximately $23. 2 million. In 2022, the Company expects to earn additional income resulting from the amounts payable to Adamis in connection with the sale of some of USC’s assets to Fagron and the disposition of the remaining USC Assets, which consist of land, buildings, machinery and equipment.
Conference
Adamis will be hosting a convention call and live webcast today, March 31, 2022, at 2 p. m. commercial developments and activities.
U. S. Call(Toll Free): 1-877-423-9813 Toll Free/International: 1-201-689-8573 Conference ID: 13727967
You will also be able to enjoy a live audio webcast of the convention call through this link. If you are unable to participate in the live call, there will be a replay some time after the live event. To pay attention to To listen to the replay, stop at the Adamis Investor Relations segment events page of the company’s online page in http://ir. adamispharmaceuticals. com/presentations.
About Adamis Farmacéutica
Adamis Pharmaceuticals Corporation is a specialized biopharmaceutical company primarily focused on the progression and commercialization of products in a variety of healing areas, including allergies, opioid overdoses, respiratory and inflammatory diseases. The company’s SYMJEPI® (epinephrine) injection products are FDA approved for use in the emergency remedy of acute allergic reactions, adding anaphylaxis. The company’s injectable product ZIMHI™ (naloxone) is approved for the treatment of opioid overdose. Tempol is in progress for the treatment of COVID-19 patients and clinical phase 2/3 the trial is underway. To learn more about Adamis Pharmaceuticals, visit our online page and follow us on Twitter and LinkedIn.
Adamis’ Forward-Looking Statements
This press release comprises forward-looking messages within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking messages include explicit plans, anticipations, intentions, contingencies, long-term goals, purposes or progressions and/or are not a different way s indeed ancient. These are related to long-term occasions or long-term operating effects, adding, among others, the following: the Company’s ideals related to the ability of its products and product applicants to be competitive in the market position; the Company’s ideals related to the defense and effectiveness of SYMJEPI, ZIMHI or its other products and product applicants; the Company’s ability to effectively advertise products and product applicants, either by itself or through marketing partners; the timing of our ZIMHI product announcement launch; long-term progression and regulatory moves related to applicants for the Company’s products; Company ideals related to the effects of any long-term study or clinical trial the Company may conduct in connection with Tempol or its other products or product applicants; the Company’s ideals related to the expected completion dates of clinical trials; the Company’s ideals regarding the benefits, enforceability, and scope of coverage of intellectual assets that are granted through patents and patent programs that it owns or has licensed and its rights under license agreements applicable law, and your ability to enforce your patents and other intellectual property rights opposed to third parties; the Company’s expectations related to long-term growth; expectations and expectations related to the Company’s strategies, objectives, long-term goals and achievements; and others related to our operations, activities and long-term monetary effects. We may not achieve one or more of the long-term goals or milestones described in the press release, either on time or at all. In addition, forward-looking statements related to our long-term planned activities assume that we have sufficient investment to support those activities and continue our planned operations and activities. Statements in this press release relating to long-term events feature several things that are beyond the Company’s control, including the absence of unforeseen progressions or delays, market position situations and the regulatory approval process. These statements are only predictions and involve known and unknown hazards, uncertainties and other things, which could possibly cause the Company’s actual effects to differ materially from the effects expected through those forward-looking statements. We cannot assess the impact of each thing on our business or the extent to which any single thing, or a combination of things, may also cause actual effects to differ materially from those contained in forward-looking statements. . You deserve not to place undue trust in forward-thinking people. Furthermore, any forward-looking statement speaks only as of the date it was made and, except as required by applicable law, we assume no legal responsibility to update or publicly disclose the effects of any revisions to such forward-looking statements. s forward-looking or to reflect occasions or occurrences after the date of this news release. Some of those dangers and additional perils, uncertainties and other things are described in greater detail in Adamis’s filings from time to time with the SEC, adding his Annual Report on Form 10-K for the fiscal year ended December 31. of 2021 and later years. . Documents filed with the SEC, which Adamis encourages you to read and consider, all of which are available free of charge on the SEC’s website at http://www. sec. gov.
Contact:
Adamis Investor Relations Robert UhlMANAGING DIRECTOR Westwicke 619. 228. 5886[email protected]
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