SAN DIEGO, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a patent application (U.S. Patent Application No. 15/914,804) describing its equine ulcer treatment product. The allowed claims recite methods of treating gastrointestinal ulcers using a combination of omeprazole and fenbendazole.
Adamis already has an issued United States Patent (U.S. 10,137,111) which recites compositions including omeprazole and fenbendazole. The current allowance strengthens Adamis’ position in the equine treatment market.
Ulcers are common in the majority of horses that are subject to stress and can affect horses at any age. Examples of horses under stress include racehorses, endurance horses, dressage horses, hunters, jumpers, 3-day eventers and any type of rodeo horse. In general, horses that are in active training tend to have a prevalence of ulcers in the range of 90 to 95%. Historically, ulcers have been known to negatively affect feeding habits and performance on the track.
Dr. Dennis J. Carlo, President and Chief Executive Officer of Adamis Pharmaceuticals, stated, “Sales of our horse ulcer product have continued to grow since we introduced it last year. We continue to see positive outcomes on horses using our product and we are excited that the intellectual property for this product has expanded. We recently performed before and after gastric scopes, using our product, at the private racing stable of one of the most prestigious horse farms in the world. Our product exceeded their expectations and they have moved all their private horses to using our product. The farm has produced 8 Kentucky Derby winners, 5 Horse of the Year honors, and 2 Triple Crown winners.”
Dr. Carlo also stated, “As we forecasted on the first quarter call, U.S. Compounding continued to improve during the second quarter and we would expect the division to be net positive to Adamis in the second half of 2019.”
About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including respiratory disease, allergy and opioid overdose. The company’s SYMJEPI (epinephrine) Injection 0.3mg and SYMJEPI (epinephrine) Injection 0.15mg products were approved by the FDA for use in the emergency treatment of acute allergic reactions, including anaphylaxis. In July, Sandoz, a division of Novartis Group, announced it had fully launched both in the U.S. Please refer to www.SYMJEPI.com for additional product information. Adamis is developing additional products, including a naloxone injection product candidate, ZIMHI, for the treatment of opioid overdose, and a metered dose inhaler and dry powder inhaler product candidates for the treatment of asthma and COPD. The company’s subsidiary, U.S. Compounding, Inc., compounds sterile prescription drugs, and certain nonsterile drugs for patients, animals, hospitals, clinics and surgery centers throughout most of the United States.
Adamis Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future results of operations, including, but not limited to the following statements: the outcome of any further studies or trials relating to the USC compound to help manage ulcers in horses; the company’s success in marketing and selling equine ulcer treatment products; the company’s ability to successfully develop additional veterinary products and product candidates; the company's beliefs concerning the ability of its products and product candidates to compete successfully in the market; the company's beliefs concerning the safety and effectiveness of its products and product candidates; the company’s beliefs concerning the benefits and intellectual property protection afforded by its patents and patent applications and its ability to enforce its patents and other intellectual property rights against third parties; and the company’s beliefs concerning the future performance and results of its U.S. Compounding, Inc. subsidiary. There are no assurances concerning the commercial success of the company’s veterinary compound for management of ulcers in horses or the benefits to the company of patents or other intellectual property rights relating to such products. In addition, results in any subsequent studies concerning the ulcer compound for horses may be different from the study described in this press release. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Adamis' actual results to be materially different from those contemplated by these forward-looking statements. Certain of these risks, uncertainties, and other factors are described in greater detail in Adamis’ filings from time to time with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC's web site at http://www.sec.gov. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except to the extent required by law, Adamis expressly disclaims any obligation to update any forward-looking statements.