By Chris Wack

Adamis Pharmaceuticals Corp. shares were up 16% in heavy trade to $1.30 after the company said the U.S. Food and Drug Administration has approved its Zimhi naloxone HCL injection 5 mg/0.5 mL product.

Volume for the stock was 122 million shares at 12:35 p.m. ET, compared to its 65-day average volume of 3.2 million shares. The stock has a public float of 147 million shares.

Adamis said Zimhi is a high-dose naloxone injection product FDA-approved for use in the treatment of opioid overdose.

Naloxone is an opioid antagonist and is generally considered the drug of choice for immediate administration for opioid overdose. It works by blocking or reversing the effects of the opioid, including extreme drowsiness, slowed breathing or loss of consciousness, Adamis said.

The company said it is preparing for the full commercial launch of Zimhi in the first quarter of 2022.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 18, 2021 12:53 ET (16:53 GMT)