Adamis Pharmaceuticals Announces Private Placement

SAN DIEGO, CA--(Marketwired - Aug 19, 2014) - Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) announced today that it has completed a private placement financing transaction pursuant to which it issued 1,418,439 shares of Series A Convertible Preferred Stock to a fundamental healthcare institutional fund and received gross cash proceeds of approximately $5,000,000. The preferred stock is convertible into common stock at a conversion ratio of 1-to-1 at the option of the investor and has no preference to the common shares. The Company also issued to the investor warrants to purchase a number of shares of common stock equal to the number of shares of preferred stock purchased by the investor. The warrants, which are exercisable for a period of five years, have an exercise price of $3.40 per share and are callable for cash.

Net proceeds from this financing will be used for general corporate purposes, including without limitation to help prepare for the anticipated marketing and sales launch of the company's epinephrine pre-filled syringe product. In May 2014, the company filed a New Drug Application with the FDA under section 505(b)(2) of the Food, Drug & Cosmetic Act for marketing approval of its pre-filled single dose syringe (PFS) product, for the emergency treatment of allergic reactions (Type I) including anaphylaxis. On July 29, 2014, the company announced that the FDA had accepted the NDA for review.

"We believe this transaction is beneficial to our shareholders. We always review opportunities to raise additional capital to help support and accelerate our development activities and product pipeline, especially when it comes from a highly-respected fundamental healthcare fund. We believe this funding will provide enough capital to support the company through the anticipated launch of our first product, the epinephrine pre-filled syringe," said Dr. Dennis J. Carlo, CEO and President of Adamis.

CRT Capital Group, LLC acted as a financial advisor for the placement. Additional information about the transaction is contained in the company's Form 8-K filing with the Securities and Exchange Commission.

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company focused on developing and commercializing products in the therapeutic areas of respiratory disease, allergy, oncology and immunology. The company's current specialty pharmaceutical product candidates include the Epinephrine Injection PFS syringe product for use in the emergency treatment of anaphylaxis, APC-1000 and APC-5000 for the treatment of asthma and chronic obstructive pulmonary disease, and APC-3000, an HFA inhaled nasal steroid product for the treatment of allergic rhinitis. The company's vaccine product candidates and cancer drug product candidates under research and development include TeloB-VAX, a cell-based therapeutic cancer vaccine and three drugs, APC-100, APC-200, and APC-300, for the treatment of prostate cancer.