Dawson James launched coverage of Adamis Pharmaceuticals (NASDAQ:ADMP) with a “buy” rating and $5 price target. The stock closed at $1.30 on July 1.
Adamis and marketing partner, Novartis, have stocked hospitals and clinics with Symjepi, an epinephrine EpiPen, for emergency treatment of allergic reaction, including anaphylaxis, in advance of a major retail launch this fall, writes analyst Jason Kolbert.
“We believe that with a combination of competitive pricing, ease of use, and Novartis’ marketing acumen, Symjepi can flourish,” he added.
Mr. Kolbert said Adamis’ easy-to-inject version of Naloxone for the emergency treatment of opioid overdoses “remains on track for approval on Oct. 31, 2019.”
Adamis also aims to enter the $3-billion erectile dysfunction market with its sublingual formulation of tadalafil, the active compound in Cialis. This product is currently ready to move into the pivotal stage.
In addition, Adamis is pursuing two inhalable oral steroid treatments for asthma, with the hope of delivering equivalent efficacy at lower doses, Mr. Kolbert said. APC-1000 is a hydrofluoroalkane inhalable steroid in Phase 3 and APC-4000 is a dry powder inhaler in Phase 2.