Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) Q4 2022 Earnings Call Transcript

David Marguglio: Again, this is a huge part of the proxy statement. It will include a discussion of the process, the background of the transaction and our reasons for entering into the merger agreement with DMK. But to directly answer the question today, it was a strategy that we and Raymond James considered and we’re open to, but no offers were received for the outright purchase of the company.

Robert Uhl: All right. Final question, why should investors be excited about this merger with DMK?

David Marguglio: I think there are many reasons for investors to be excited. But to me, the most important reason is to highlight Eboo himself. So why don’t I let him have the final comment.

Dr. Eboo Versi: Thanks, David. I want to emphasize the synergy I see in this proposed merger. Although DMK’s development program represents a significant enhancement and strategy away from the 505(b)(2) branded generic products to higher-value, new chemical entities, I believe there exists significant synergies between the 2 companies. There is synergy in pairing an approved treatment for opioid use disorder with a development candidate to treat and possibly prevent opioid addiction, synergy in having a risk-diversified portfolio, synergy in the skill sets for Adamis and DMK management teams. In short, we had the opportunity to significantly improve the sales of ZIMHI given the changing market perceptions and the enhanced awareness by governmental and other agencies of the opioid crisis now that COVID is no longer dominating the news cycle.

In the long term, we have the opportunity of getting approval of novel blockbuster products. I am very optimistic about the prospects of the combined company.

Robert Uhl: All right. Thank you, everyone. That brings us to the end of our call today. Thank you for joining and for your interest in Adamis Pharmaceuticals. Have a nice evening, everyone.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.