UPDATE: ADMP has received FDA approval for their epinephrine syringe.
Adamis Pharmaceuticals Corp (NASDAQ: ADMP) is halted at the moment, and many are wondering what's happening. However, we believe that we know the reason for the halt. It all has to do with an FDA decision that could be coming down the line relatively soon.
ADMP Halted Ahead Of FDA Decision
As mentioned above, Adamis Pharmaceuticals was halted recently. A special thanks goes to our partners at Trade Ideas for alerting us to the halt. While many are wondering why the halt is taking place, we believe that it has to do with a decision that's soon to come from the FDA.
The company is awaiting a decision from the FDA surrounding a pre-filled epinephrine syringe. The syringe is expected to serve as a low cost alternative to the EpiPen, which is made by Mylan (MYL). While the FDA has rejected the product twice in the past, ADMP believes that this application will be the one that leads to approval as the company believes it has addressed all concerns associated with the most recent rejection.
The FDA could rule on the epinephrine syringe as soon as today. While no one knows if this is indeed the reason for the halt on the stock, it would definitely make sense.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ADMP. In particular, we're interested in the reason for the halt. While we believe that it is associated with the FDA decision, no one can be sure as of yet. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
Update: News is coming down the wire that the FDA has approved the epinephrine syringe submitted by ADMP.
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