Shares of Adamis crater on CRL; Boris John­son promis­es to dou­ble de­men­tia re­search fund­ing

→ San Diego-based Adamis $ADMP saw its shares crater on the news that the FDA has re­ject­ed its ap­pli­ca­tion to mar­ket high-dose nalox­one in­jec­tion for the treat­ment of opi­oid over­dose. The stock dropped about 50%, falling deep in­to pen­ny stock ter­ri­to­ry. Ac­cord­ing to the biotech, the FDA had some out­stand­ing ques­tions on CMC that have to be re­solved ahead of any ap­proval.

→ Af­ter re­cent­ly pledg­ing £250 mil­lion in­to AI adop­tion in the NHS, UK Prime Min­is­ter Boris John­son vowed in his man­i­festo un­veiled on Sun­day to in­vest an ad­di­tion­al £83 mil­lion a year in­to de­men­tia re­search, dou­bling cur­rent fund­ing, over the next decade if the Con­ser­v­a­tive Par­ty pre­vails in the gen­er­al elec­tion. In ad­di­tion, the To­ries al­so promised to cre­ate a new £500 mil­lion fund for new med­i­cines treat­ing hard to cure dis­eases such as can­cer.

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