Adamis Pharmaceuticals Receives Another Milestone Payment

SAN DIEGO--(BUSINESS WIRE)--Adamis Pharmaceuticals Corporation (OTCBB: ADMP) previously entered into a common stock purchase agreement in November 2010 to allow an investor to purchase $10 million of common stock at $.25 per share. The investor purchased $5 million in November 2010 and the agreement provided for two subsequent closings of $2.5 million each if certain milestones have been achieved. The two sets of milestones primarily relate to our telomerase prostate cancer technology and to the Company’s APC-100 prostate cancer product candidate.