Investor Alert

Jan. 16, 2019, 4:49 p.m. EST

Adamis stock surges on release of EpiPen alternative

Adamis Pharmaceuticals Corp. (NAS:ADMP) shares surged in the extended session Wednesday after the biotech company said its partner Sandoz Inc. launched an alternative to epinephrine auto-injectors like Mylan NV's EpiPen. Adamis shares rallied 14% after hours, after closing up 4.8% at $2.63 in regular trading Wednesday. Adamis said that Sandoz, which is part of Novartis AG (NYS:NVS) , launched Symjepi, a single-dose treatment for allergic reactions including anaphylaxis. "With recent news of epinephrine product shortages in the U.S., we worked together with Sandoz in getting this potentially life-saving quality product into the market as quickly as possible," said Dennis Carlo, chief executive at Adamis, in a statement.

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