DMK Pharmaceuticals Regains Full Rights from US WorldMeds for SYMJEPI® and Provides Corporate Update
28 Novembre 2023 - 2:05PM
DMK Pharmaceuticals Corporation (NASDAQ: DMK), a commercial stage
neuro-biotech company primarily focused on developing and
commercializing products for the treatment of opioid overdose and
substance use disorders, today announced that it is reacquiring the
rights to its SYMJEPI® (epinephrine) Injection 0.3mg and SYMJEPI®
(epinephrine) Injection 0.15mg products from USWM, LLC (“USWM” or
“US WorldMeds”). US WorldMeds previously held exclusive
distribution and commercialization rights for SYMJEPI® and ZIMHI®
(naloxone) products in the United States, and was responsible for
marketing, promotion and distribution efforts.
The Company is now actively seeking out-license opportunities
for SYMJEPI® in the US and globally, in addition to exploring other
options with a focus on maximizing value for shareholders.
“Given our renewed focus on our core business, we are taking
decisive actions that we believe will remove obstacles and improve
our ability to drive long-term growth,” said Eboo Versi, M.D.,
Ph.D., CEO of DMK Pharmaceuticals. “This represents an important
step in DMK’s ongoing transformation journey as we continue to
execute against our operating plan and review our existing business
relationships to ensure maximal benefit to DMK’s stakeholders and
patients.”
About DMK Pharmaceuticals
DMK Pharmaceuticals is a commercial stage neuro-biotech company
primarily focused on developing and commercializing products for
the treatment of opioid overdose and substance use disorders. DMK’s
commercial products approved by the FDA include ZIMHI® (naloxone)
Injection for the treatment of opioid overdose, and SYMJEPI®
(epinephrine) Injection for use in the emergency treatment of acute
allergic reactions, including anaphylaxis. The Company is focused
on developing novel therapies for opioid use disorder (OUD) and
other important neuro-based conditions where patients are currently
underserved. DMK believes its technologies are at the forefront of
endorphin-inspired drug design with its mono, bi- and
tri-functional small molecules that simultaneously modulate
critical networks in the nervous system. DMK has a library of
approximately 750 small molecule neuropeptide analogues and a
differentiated pipeline that could address unmet medical needs by
taking the novel approach to integrate with the body’s own efforts
to regain balance of disrupted physiology. The Company’s lead
clinical stage product candidate, DPI-125, is being studied as a
potential novel treatment for OUD. DMK also plans to develop the
compound for the treatment of moderate to severe pain. The
Company’s other development stage product candidates include
DPI-221 for bladder control problems and DPI-289 for severe end
stage Parkinson’s disease. For additional information about DMK
Pharmaceuticals, please visit our website and follow us on Twitter
and LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are identified by terminology such
as “may,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “target,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these terms or other similar words. Such forward-looking
statements include those that express plans, anticipation, intent,
contingencies, goals, targets or future development and/or
otherwise are not statements of historical fact. These statements
relate to anticipated future events or future results of
operations, including, but not limited to, statements concerning
(i) the ability of the Company to raise additional funds required
to sustain the Company’s ongoing operations and fund the
anticipated development activities regarding DPI-125, (ii) whether,
if successfully developed, DPI-125 will receive a more favorable
drug scheduling or be a more patient friendly treatment, (iii) the
potential benefits of DPI-125 if successfully developed, and (iv)
our ability to increase sales of our commercial products. These
statements are only predictions and involve known and unknown
risks, uncertainties, and other factors, which may cause Adamis’
actual results to be materially different from the results
anticipated by such forward-looking statements. These statements
also assume that the Company will have or be able to obtain
sufficient funding to support the activities described in this
press release, continue the Company’s operations and satisfy the
Company’s liabilities and obligations in a timely manner. There can
be no assurance that this will be the case. Also, such statements
assume that there are no significant unexpected developments or
events that delay or prevent such activities from occurring. The
Company will require additional funds to sustain operations,
satisfy our obligations and liabilities, and fund its ongoing
operations. There are no assurances that required funding will be
available at all or will be available in sufficient
amounts. Failure to timely obtain any required additional
funding, or unexpected developments or events, could delay the
occurrence of such events or prevent the events described in any
such statements from occurring which could adversely affect our
business, financial condition and results of operations. If we
cannot continue as a viable entity, we might be required to reduce
or cease operations or seek dissolution and liquidation or
bankruptcy protection, and our stockholders would likely lose most
or all of their investment in us. Accordingly, you should not rely
upon forward-looking statements as predictions of future events.
Adamis cannot assure you that the events and circumstances
reflected in the forward-looking statements will be achieved or
occur, and actual results could differ materially from those
projected in the forward-looking statements. You should not place
undue reliance on any forward-looking statements. Further, any
forward-looking statement speaks only as of the date on which it is
made, and except as may be required by applicable law, we undertake
no obligation to update or release publicly the results of any
revisions to these forward-looking statements or to reflect events
or circumstances arising after the date of this press release.
Certain of these risks and additional risks, uncertainties, and
other factors are described in greater detail in Adamis’ filings
from time to time with the SEC, including its annual report on Form
10-K for the year ended December 31, 2022, and subsequent filings
with the SEC, which Adamis strongly urges you to read and consider,
all of which are available free of charge on the SEC’s website at
http://www.sec.gov.
Investor and Media Contact:Maria YonkoskiICR
Westwicke203-682-7167
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