Adamis Pharmaceuticals Corp (NASDAQ:ADMP) Q2 2020 Earnings Conference Call - Final Transcript

Aug 20, 2020 • 04:30 pm ET


Adamis Pharmaceuticals Corp (NASDAQ:ADMP) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to Adamis Pharmaceuticals Corporation's Second Quarter 2020 Conference Call. [Operator Instructions] I would now like to turn the conference over to your host, Dr. Dennis Carlo, President and CEO. Thank you. You may begin.

Dennis J. Carlo

Thank you. Good afternoon and welcome to Adamis Pharmaceuticals' second quarter 2020 earnings conference call. I am Dr. Dennis Carlo, President and CEO of Adamis. Thank you for joining us today for an update, and welcome to our shareholders, analysts and anyone taking an interest in Adamis.

Joining me today is our Chief Financial Officer, Rob Hopkins; our Chief Medical Officer, Dr. Ron Moss; and our Chief Business Officer, Dave Marguglio. Once again, the format for this call will consist of some remarks from management, followed by an opportunity for some questions. This call is being webcast and will be available for replay in the Investors section of our website,

In today's call, we will make certain forward-looking statements regarding our business based on current expectations and current information. Those statements speak only as of today. And except as required by law, we do not assume any duty to update in the future any forward-looking statement made today. Of course, any forward-looking statements involve risks and uncertainties, and our actual results could differ materially from those anticipated by any forward-looking statements that we make today. Additional information concerning factors that could affect our business and financial results is included in our most recent annual report on Form 10-K with the Securities and Exchange Commission and in other subsequent filings that we make with the SEC. These are available at the SEC's website.

Since our call in May, California's COVID restrictions have eased somewhat, and we are no longer required to work remotely. However, we continue to take measures to safeguard and safety of our customers and employees. Most -- like most businesses, Adamis has been negatively impacted by both the pandemic and ensuing lockdowns, but we continue to try to minimize the impact as best we can, and things appear to be improving.

I'd now like to discuss a few points from our second quarter results and highlight a few items. As we discussed on our last earnings call, we supplemented our NDA for our high-dose naloxone product, ZIMHI, and the FDA has provided us with a target action date of November 15. We feel that the increased number of drug overdoses reported over the last few months and the increased use of fentanyl underscores the need for a high-dose naloxone product such as the ones we are in development. I feel confident that the FDA will approve our NDA at the conclusion of their review. And I feel very confident that the US WorldMeds will do an excellent job in selling and marketing our high-dose naloxone product.

Shifting to SYMJEPI, during the second quarter, we announced our agreement to terminate our marketing and distribution agreement with Sandoz and reassigned those rights to US WorldMeds under a new commercialization agreement. Adamis and US