News Release

Adamis Pharmaceuticals Announces Closing of Public Offering of Common Stock and Exercise of Over-Allotment Option in Full

SAN DIEGO, Jan. 14, 2015 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (Nasdaq:ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in the therapeutic areas of respiratory disease, allergy, oncology and immunology, announced today the closing of its previously announced underwritten public offering of 2,000,000 shares of common stock at a public offering price of $5.00 per share, as well as 300,000 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters.

The net proceeds are expected to be approximately $10.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the company.

Oppenheimer & Co. Inc. acted as the sole book-running manager of the offering. CRT Capital Group LLC, Maxim Group LLC and Mizuho Securities USA Inc. acted as co-managers for the offering.

The company intends to use the net proceeds of the offering for general corporate purposes, which include, without limitation, hiring additional personnel and other expenditures relating to the company's anticipated commercial launch of its Epinephrine PFS syringe product (if the FDA grants marketing approval for the product), research and development and clinical trial expenditures, acquisitions of new technologies or products, the repayment, refinancing, redemption or repurchase of future indebtedness or capital stock and working capital.

The securities described above were issued by the company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-196976) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on July 2, 2014. A prospectus supplement and an accompanying prospectus relating to the offering was filed with the SEC on January 9, 2015. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting Oppenheimer & Co. Inc., Attention:  Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY  10004, or by telephone at (212) 667-8563, or by email at

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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the public offering and the intended use of proceeds from the offering and statements about the progress of the commercialization of its epinephrine pre-filled syringe product and the development of the company's product candidates.  These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the company's filings with the SEC, and represent the company's views only as of the date they are made and should not be relied upon as representing the company's views as of any subsequent date.  The company's actual results may differ materially from those contemplated by these forward-looking statements.  Except to the extent required by law, the company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.

Mark Flather
Director, Investor Relations & Corporate Communications
(858) 412-7951

Mark Gundy
External Investor Relations