Adamis Pharmaceuticals Stock Soars To More Than Double - What's Going On?
Portfolio Pulse from Vandana Singh
Adamis Pharmaceuticals Corporation's stock price has more than doubled, following the sale of assets related to its discontinued pharmacy compounding business to FarmaKeio Pharmacy Network for around $2 million. The company also announced a research grant to the Leiden University Medical Center Anesthesia and Pain Research Unit. Additionally, Adamis merged with DMK Pharmaceuticals Corporation and announced a 1-for-70 reverse stock split in May.
August 04, 2023 | 10:14 am
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Adamis Pharmaceuticals' stock price has surged following the sale of assets, a research grant announcement, and a merger with DMK Pharmaceuticals.
The sale of assets has likely provided Adamis with additional capital, which is generally viewed positively by investors. The research grant could potentially lead to new product developments, which could increase future revenues. The merger with DMK Pharmaceuticals could result in synergies and increased market share, which could also boost future revenues and profits.
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