Adamis Pharmaceuticals (ADMP) Stock Sees Selling Pressure After The Big Rally

On Tuesday, the Adamis Pharmaceuticals (NASDAQ:ADMP) stock emerged as a notable gainer and soared by 40%. However, this morning the story has turned on its head for the Adamis stock and so far it has declined by 19.50%.

Adamis Pharmaceuticals (ADMP) Stock Sees Selling Pressure After The Big Rally

More importantly, there has been no news about the stock that could have led to such volatility in price action. However, investors who might be interested in the company could consider taking a look at a key development from last month.

Back on April 12, Adamis provided an update regarding the New Drug Application for its high dose naloxone injection that is meant for treating opioid overdose. It was announced that Adamis was part of Type A meeting with the United States Food and Drug Administration. At the meeting, the additional information provided by Adamis were reviewed.

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The agency did not give the company any specific timeline with regards to the review. However, considering the current volatility in the stock, investors could consider keeping Adamis on their watch lists.

At the time of writing, ADMP stock is down 19.43% at $0.86, off the session low of $0.81.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.