Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) jumped 3% after announcing patient dosing commencement in its Phase 2/3 clinical study for Tempol. Tempol is an oral antiviral treatment the company is developing to treat adult patients with COVID-19 infection. The antiviral product has demonstrated in preclinical studies that it has antioxidant, anti-inflammatory, and antiviral activity. Adamis is expected to recruit 248 patients in the study.
Principal study investigator ShyamKottilil said that the timing of the study is vital at the moment given the spread of the delta variant and breakthrough infections in individuals that have received the vaccine. Kottilil added that Tempol would be an essential anti-inflammatory and antiviral countermeasure once proven to be effective and safe in the study.
CEO and President Dennis J. Carlo said that they are delighted to commence phase 2/3 clinical trial dosing for Tempol, which has shown encouraging preclinical data in various inflammation and infection disease models. Therefore, in the coming weeks, ADMP is worth keeping an eye on.
Market Reaction:
On Thursday, ADMP stock moved up 2.70% at $1.14 with more than 4.15 million shares, compared to its average volume of 7.66 million shares. The stock has moved within a range of $1.1200 – 1.1700 after opening the trade at $1.16.
