ADMP - Adamis Pharma stock falls 9% despite better-than expected Q1 revenue

Adamis Pharma (NASDAQ:ADMP -9.4%) posted better-than expected Q1 revenue on Monday after markets closed. Quarterly revenue fell 14% Y/Y to $1.2M, but beat analysts estimate by $1.1M. Revenues consisted mostly of about  $1.1M of sales from opioid overdose treatment, Zimhi. The company said no revenues relating to epinephrine injection, Symjepi, were reported for the first quarter due to the manufacturing hold and the voluntary recall of certain lots. In March, the company had pulled Symjepi injections due to needle clogging risks. Research and development costs rose 91% Y/Y to $4.2M due to expenses relating to the trial of COVID-19 treatment candidate, Tempol. Quarterly net loss from discontinued operations was about $0.17M vs. loss of $1.5M, a year earlier. Transcript

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Adamis Pharma stock falls 9% despite better-than expected Q1 revenue