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Adamis Pharmaceuticals CEO Provides Update For Shareholders

SAN DIEGO, May 3, 2013 /PRNewswire/ -- Dennis J. Carlo, Ph.D., the President and Chief Executive Officer of Adamis Pharmaceuticals Corporation (OTCQB: ADMP), a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology, today provided the following letter to shareholders:

Dear Shareholder:

A number of stockholders have been asking me to comment on our developments; therefore I thought it might be appropriate to put my response in a letter to all of our shareholders.  We have been relatively quiet this past year, but at the same time, we have been busy trying to build our Company.  Results will speak for themselves, and we certainly have our challenges and obviously there are no assurances, but I am extremely excited and optimistic about our future.  Creating and developing the assets that we currently have has taken a considerable amount of time, dedication, effort and a "never give-up" attitude.  Having put many of the pieces of the puzzle together, I believe that we are poised to embark on a journey that will transform Adamis and could propel us to new levels.

We are laying the foundation to support a company that we believe has the potential to generate significant revenues, profits and shareholder value.  In both the specialty pharmaceutical and biotechnology areas, we have a platform technology, a clear business and financial model, an experienced management team, significant intellectual property, and very large (in some cases, billion dollar) potential markets for our product candidates.

This year our current objectives include:

  • Focusing on submitting our single dose epinephrine syringe for regulatory approval and sale next year
  • Completing the manufacture of our Beclomethasone-HFA product to initiate Phase III studies in asthma and COPD
  • Finalizing our allergic rhinitis product development in order to initiate Phase III clinical trials
  • Acquiring or in-licensing an established product or technology that, following regulatory marketing approvals, will compete in large (multi-billion dollar) product markets and will be synergistic with our existing assets.

On the Biotech side, we are focused on:

  • Completing our Phase I prostate cancer drug trial
  • Finalizing the activities necessary to begin a Phase I/II trial for our second prostate compound
  • Initiating a Phase II prostate cancer vaccine trial for TeloB-VAX.

If we are able to complete additional financing transactions and make progress on our objectives, we intend to take the necessary steps to be in a position to list our common stock on a national stock exchange such as the NYSE-Amex or NASDAQ.  An up-listing could lead to an increase in shareholder value, give Adamis more market exposure, increase liquidity and partnering activities and increase our shareholder base to include more fundamental health care investors.

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