Yesterday, Adamis Pharmaceuticals Corp (NASDAQ:ADMP) was in the news after the company announced that its product Zimhi was approved by the United States Food and Drug Administration.
It goes without saying that it was a major development for the company and the Adamis stock ended the day with gains of 8%. It should be noted at the same time that the Adamis stock is up by as much as 16% over the past week. Zimhi is a naloxone injection of a higher dose which is meant for treating cases of opioid overdose and the approval is a major milestone for the company.
The opioid crisis has been one of the more problematic health crises in the United States in recent years and the possibility of tackling that problem could open up a massive market opportunity for Adamis.
Hence, it was no surprise that the trading volume in the stock went up several folds following the announcement from Adamis. It is however going to be interesting to see if the trading volumes remain at that level in the coming days. At this point in time, it is a stock that could be added to the watch lists by investors.
