Adamis an­nounces merg­er four months af­ter PhII/III miss

In a bid to stay afloat, Adamis Phar­ma­ceu­ti­cals will merge with DMK Phar­ma­ceu­ti­cals. The merg­er comes just four months af­ter its stock crashed fol­low­ing a Phase II/III tri­al fail­ure. The com­pa­ny said it was look­ing at oth­er op­tions, in­clud­ing bank­rupt­cy pro­tec­tion.

The cur­rent CEO of DMK, Eboo Ver­si, will take over as CEO of the com­bined com­pa­ny once the deal is com­plet­ed.

“I be­lieve by com­bin­ing Adamis’ com­mer­cial prod­ucts and de­vel­op­ment in­fra­struc­ture with DMK’s clin­i­cal-stage pro­grams and li­brary of small mol­e­cules, un­der Dr. Ver­si’s lead­er­ship, the new com­pa­ny will have the po­ten­tial to de­vel­op mul­ti­ple ground­break­ing treat­ments and ul­ti­mate­ly grow share­hold­er val­ue,” David Mar­guglio, CEO of Adamis, said in a state­ment.

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