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Adamis Pharma Stock Jumps as FDA Clears Opioid-Overdose Treatment

Drug overdoses are the leading cause of death for people under age 50 in the U.S. Adamis just got FDA approval for an opioid-overdose treatment.

Shares of Adamis Pharmaceuticals  (ADMP) - Get Adamis Pharmaceuticals Corporation Report jumped on Monday after the U.S. Food and Drug Administration approved the drugmaker's opioid-overdose treatment.

Shares of Adamis on Monday closed 8.9% higher at $1.23. They've traded on Monday up as much as 31% at $1.48.

Zimhi is a high-dose naloxone injection product. Naloxone is generally considered the treatment of choice for immediate administration for an opioid overdose.

Adamis, San Diego, is working with a partner, US WorldMeds, "to make this much-needed, lifesaving product readily available to the market," Chief Executive Dennis Carlo said in a statement.

"Zimhi provides the highest systemic levels of naloxone compared to any of the nasal or intramuscular products currently available.”

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The company plans the full commercial launch of Zimhi in the first quarter. 

Drug overdoses killed nearly 97,000 people in the U.S. during the 12 months ended in March, according to the Centers for Disease Control and Prevention. That's a 29% increase over the previous 12-month period. 

Overdoses are now the leading cause of death for Americans under age 50, according to the CDC. 

Opioids like morphine, heroin, tramadol, oxycodone, hydrocodone and fentanyl are responsible for a substantial proportion of those deaths. 

Naloxone is an opioid antagonist that blocks or reverses the effects of the opioid, including extreme drowsiness, slowed breathing and loss of consciousness.