SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adamis Pharmaceuticals Corporation - ADMP
NEW YORK, March 30, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Adamis Pharmaceuticals Corporation ("Adamis" or the "Company") (NASDAQ: ADMP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Adamis and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 27, 2015, Adamis issued a press release announcing that it had received a Complete Response Letter ("CRL") from the U.S. Food & Drug Administration ("FDA") regarding the Company's New Drug Application ("NDA") for its Epinephrine Injection USP 1:1000 0.3mg Pre-filled Single Dose Syringe, or the Epinephrine PFS, product, for the emergency treatment of acute anaphylaxis, which is a severe allergic reaction. According to the Company, "on May 28, 2014, we submitted an NDA to the FDA pursuant to Section 505(b)(2) of the Food, Drug & Cosmetic Act, as amended, for approval of the Epinephrine PFS product. The Epinephrine PFS delivers a premeasured dose of ephinephrine for the emergency treatment of anaphylaxis.
A CRL is issued by the FDA's Center for Drug Evaluation and Research when it has completed its review of a file and questions remain that preclude the approval of the NDA in its current form.
The questions raised by the FDA in the CRL pertained to Chemistry, Manufacturing and Controls ("CMC") relating to the volume of dose delivered by the syringe, including the ability to deliver volume within the levels contained in the labeling claim and as required by the FDA."
On this news, shares of Adamis fell $1.41 per share to $3.98, or more than 26.16%, in intra-day trading on March 30, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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