Adamis Urges Shareholders to Maintain Momentum with Current Board
San Diego-headquartered biopharmaceutical firm Adamis Pharmaceuticals has sent a letter to stockholders urging them to re-elect all the five members of its board as part of a strategic move to continue and maintain its current growth initiatives.
The letter was sent ahead of the annual shareholders' meeting scheduled for July 16. The board emphasized that keeping the board seats occupied by the same individuals is critical to the company's progress.
In order to elect the full five-member slate back to their seats, shareholderes must vote on the White Proxy Card. Adamis currently led by Dennis J. Carlo, Ph.D. as President and Chief Executive Officer.
The call comes at a high time for the biopharma, as it is conducting phase 2 of 3 clinical trials for the effectiveness of Tempol to treat COVID-19. In addition, Adamis owns the exclusive global license to use Tempol for a wide range of respiratory conditions, including influenza, asthma, respiratory syncytial virus, and COVID-19.
In its research so far, Tempol has shown favorable anticoagulant, anti-inflammatory, and antioxidant effects. The drug targets ARDS specifically, which is the major cause of death among those who have been diagnosed with COVID-19.
Tempol was also observed to reduce lung inflammation and preserve lung pathology linked to chronic and acute lung illnesses.
Researchers also found that the drug can reduce platelet aggregation and clotting, which has also been high among COVID-19 patients. Adamis claims that Tempol has been applied to multiple clinical studies enough for them to conclude that it is safe to use.
"Phase 2/3 clinical trial start-up activities are underway for examining the effects of Tempol in the treatment of COVID-19. Commenced activities include site identification and initiation, data base production, vendor management, and the establishment of an independent data safety monitoring board of infectious disease experts, which will review the safety and efficacy of the trial. Clinical trial drug product and placebo have also been obtained," the letter said.
The board identified the members of the Data Safety Monitoring Board that is overseeing Phase 2, such as Dr. Roya Steigbigel (Stony Brook School of Medicine), Dr. Michael Ison (Northwestern University Feinberg School of Medicine), Dr. Cameron Wolfe (Duke University School of Medicine), and Dr. Shmuel Shoham (Johns Hopkins University School of Medicine). This four-person team will manage and monitor the trial, ensure the integrity of the research, and the safety of the participants. Phase 2 will begin in the third quarter of 2021.
Beyond COVID-19 and board updates, Adamis has had busy several months with a host of other projects, particularly in treating opioid overdose. Early in June, the company announced it is developing several new medications in its pipeline, including the SYMJEPI (epinephrine) injection and ZIMHI (naloxone) injection.
Before it closed its letter, Adamis condoned the "seemingly unlawful, disingenuous, and disruptive efforts" of a shareholder, Jerald A. Hammann, who has filed lawsuits against the company and some board members. Hamman owns 1,000 shares in the company. Adamis wrote that investors should reject Hamman's "attacks and mischaracterizations."