Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) has disclosed that it has submitted the Investigational New Drug (IND) application to FDA for Tempol. The purpose of this IND is to get authorization for the use of Tempol to cure the COVID-19 patients.
The company is also planning to search for administration & non-administration grant to examine the therapy and prevention of COVID-19 with Tempol. It has been observed that Tempol is proven to be useful in the cure of patients with COVID-19 as this drug has been demonstrated to reduce platelet accumulation. Platelets problem is the main issue noted in many COVID-19 patients.
Various studies have demonstrated that ARDS animal models suggest that Tempol induces a reduction in lung inflammation and preserves acute and chronic lung injury-related lung pathology. Tempol has been shown to lessen the genes that are linked to hypoxia. A primary indicator often associated with serious illness and a bad outcome is hypoxia. For the effective cure of COVID-19, management of hypoxia & the cytokine storm can be deemed to be needed.
Share of Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) skyrocketed 72.80% at $1.39 during the trading session of Wednesday. It has recorded a trading volume of 158.09 million as compared to the average volume of 5.67 million. In the past 52-weeks of trading, this company’s share has fluctuated between the low range of $0.27 and the high range of $1.51. Adamis Pharmaceuticals Corporation has a total market capitalization of $78.33 million.
CEO & President of Adamis has commented that the world is now facing a pandemic and a novel virus has infected nearly 23 million people around the globe so there is a need for more and more cure of COVID-19. The firm believed that Tempol not only helps in the therapy of COVID-19 patients but also helps in reducing the hospital admission rate. As time passes, new variants of the virus are now emerging and there is a necessity for new cure as well.