Latest biotech-on-biotech merger sees aimless Adamis snapped up by DMK

This time it’s Adamis Pharmaceuticals, which was left floundering after its sole remaining clinical asset—a COVID-19 antiviral called Tempol—flunked a phase 2/3 trial last September. It sent the biotech on a hunt for “strategic alternatives,” leading it to accept a merger with neurology-focused DMK Pharmaceuticals.