This morning the Adamis Pharmaceuticals Corp (NASDAQ:ADMP) stock has made a sharp move and already gained 12%. This move came after its product Tempol was identified by the National Institutes of Health as a potential COVID 19 treatment.
The researchers at the NIH conducted a study of cell structures and in that study, it was noticed that Tempol had the capability of limiting the COVID 19 virus. That is a significant development for the company considering the fact that the demand for COVID 19 medicine is still high.
More importantly, it should be noted that COVID 19 cases are still high in many countries across the world and hence, an international opportunity could be there for the taking as well. The company also announced today that the finding from the study conducted by the NIH also supports the protocol of the investigational drug application for the product. Investors might consider keeping an eye on the Adamis stock today.
Market Action
As of 1:06, ADMP stock has gained by 12% to $1.12. The stock has seen huge volume with more than 20.19 million shares already traded, well above its 30-day average volume of 6.67 million shares.
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