SAN DIEGO, Aug. 24, 2021 (World NEWSWIRE) — Adamis Pharmaceuticals Company (NASDAQ: ADMP) now announced that David C. Benedicto, who has been serving as the Company’s Main Accounting Officer, will thrive Robert O. Hopkins as Chief Monetary Officer, efficient quickly. Mr. Hopkins is departing to go after new options following serving the Organization for the past 14 several years. Administration has founded a detailed transition system to preserve comprehensive continuity throughout all finance capabilities as Mr. Hopkins departs.
Dr. Dennis J. Carlo, Main Govt Officer of Adamis, commented: “David has been an significant member of our finance team considering the fact that he joined Adamis nearly 7 several years in the past. In addition to possessing robust encounter in the biotechnology and pharmaceutical sectors, he is aware our property and pipeline exceedingly perfectly. Our management is self-assured that he is well prepared to step into the Main Money Officer position and oversee all of the Company’s finance functions. I also want to get the option to thank Robert for his many years of partnership and support to Adamis. Most a short while ago, he aided aid the sale of property of our US Compounding, Inc. subsidiary. We wish Robert nicely as he pursues new options.”
Mr. Benedicto has a lot more than two a long time of expertise operating in finance roles at general public and non-public businesses. Considering the fact that becoming a member of Adamis in late 2014, he has served as Controller and then as Chief Accounting Officer. He beforehand held a senior accounting manager part at Trius Therapeutics, Inc. prior to the business remaining obtained. He has also held controller positions and led finance capabilities at HERC Products and solutions, Inc. and BAE Techniques Inc. Mr. Benedicto is a CPA and a CMA (Qualified Management Accountant) and holds a bachelor’s degree in Accounting from the College of Saint La Salle and a Learn of Business enterprise Administration from the University of Redlands.
Deficiency Letter from Nasdaq
The Firm also announced that, as predicted, on August 20, 2021, it received a normal notification letter from the Listing Skills Department of The Nasdaq Stock Market place LLC notifying the Organization that, because the Firm has not well timed submitted its Quarterly Report on Form 10-Q for the period of time ended June 30, 2021, as very well as its 10-Q for the time period finished March 31, 2021, the Corporation does not comply with Nasdaq Market Rule 5250(c)(1), which demands timely filing of periodic reviews with the Securities and Trade Fee. In response to a earlier notification letter from Nasdaq relating to the Type 10-Q for the period of time ended March 31, 2021, the Business has beforehand submitted to Nasdaq a program to get back compliance. In link with its evaluation of the strategy, Nasdaq has requested that the Company submit an current system to get back compliance. The letter indicated that if Nasdaq accepts the approach, Nasdaq may possibly grant an exception of up to November 22, 2021, to regain compliance. If an exception is granted, the Corporation may get back compliance at any time throughout the permitted period upon filing the Form 10-Qs with the SEC, as very well as any other demanded periodic reports that are due in that interval. If Nasdaq does not acknowledge the Company’s plan, the Business will have the chance to attractiveness that decision to a Nasdaq Hearings Panel. The See was issued in accordance with regular Nasdaq methods and has no instant result on the listing of the Company’s prevalent inventory on the Nasdaq Cash Market place.
Adamis will give further data similar to the marketing of Mr. Benedicto, the separation of Mr. Hopkins and the NASDAQ deficiency letter in a Variety 8-K to be filed with the SEC.
About Adamis Prescription drugs
Adamis Prescribed drugs Company is a specialty biopharmaceutical firm mostly targeted on producing and commercializing items in various therapeutic parts, which includes allergy, opioid overdose, respiratory and inflammatory condition. The Company’s SYMJEPI (epinephrine) Injection products and solutions are permitted by the Food and drug administration for use in the crisis cure of acute allergic reactions, including anaphylaxis. The Company’s resubmitted New Drug Software (NDA) for its naloxone injection product or service candidate, ZIMHI, for the therapy of opioid overdose is at present beneath Food and drug administration assessment. Adamis is establishing supplemental products candidates, including solutions for acute respiratory illnesses, these kinds of as COVID-19, and radiation dermatitis. For further facts about Adamis Prescribed drugs, remember to pay a visit to www.adamispharmaceuticals.com.
Ahead Hunting Statements
In addition to historic data, this push launch is made up of ahead-hunting statements inside of the which means of the Non-public Securities Litigation Reform Act of 1995. This kind of ahead-seeking statements include people that specific options, anticipation, intent, contingencies, ambitions, targets or long term improvement and/or if not are not statements of historical truth. These statements relate to foreseeable future activities or foreseeable future results of operations, such as, but not restricted to the following statements: the Company’s beliefs about issues relating to the changeover of things to do and tasks subsequent the appointment of a new chief money officer the anticipated timing for the submitting of the Company’s Quarterly Reports on Variety 10-Q and our ability to regain compliance with the Nasdaq continued listing expectations the Company’s beliefs regarding the safety and effectiveness of its items and products candidates the Company’s capacity to efficiently commercialize the merchandise and item candidates explained in this press launch, by itself or by commercialization partners, and the Company’s beliefs regarding its product advancement routines and other statements regarding our long term functions, activities and financial success. These forward-on the lookout statements are based upon info that is now readily available to us and our existing anticipations, discuss only as of the day hereof, and are matter to various pitfalls and uncertainties, together with all those connected to no matter whether Nasdaq will settle for our program to get back compliance, our skill to file the Variety 10-Qs just before the time period specified in the Discover and our skill to regain compliance with the Nasdaq continued listing expectations. These statements are only predictions and involve regarded and mysterious pitfalls, uncertainties, and other things, which may possibly bring about Adamis’ genuine effects to be materially various from the effects predicted by these forward-on the lookout statements. We can not assess the impact of each factor on our business or the extent to which any issue, or combination of things, might trigger actual effects to vary materially from those people contained in any forward-looking statements. You should not place undue reliance on any forward-searching statements. Further, any ahead-wanting statement speaks only as of the date on which it is designed, and apart from as may perhaps be necessary by applicable law, we undertake no obligation to update or launch publicly the outcomes of any revisions to these forward-seeking statements or to mirror occasions or situation arising immediately after the date of this press release. Particular of these threats and extra hazards, uncertainties, and other elements are described in increased detail in Adamis’ filings from time to time with the SEC, such as its annual report on Sort 10-K for the calendar year ended December 31, 2020 and subsequent filings with the SEC, which Adamis strongly urges you to go through and look at, all of which are obtainable free of charge on the SEC’s net website at http://www.sec.gov.