Intrinsic value of Adamas Pharmaceuticals - ADMS

Previous Close

$11.52

  Intrinsic Value

$0.61

stock screener

  Rating & Target

str. sell

-95%

Previous close

$11.52

 
Intrinsic value

$0.61

 
Up/down potential

-95%

 
Rating

str. sell

We calculate the intrinsic value of ADMS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1
  1
  2
  3
  4
  6
  8
  10
  13
  17
  21
  26
  31
  37
  44
  51
  58
  67
  75
  85
  95
  105
  116
  128
  140
  152
  165
  179
  193
  207
Variable operating expenses, $m
  58
  89
  133
  193
  272
  374
  502
  660
  849
  1,072
  1,331
  1,628
  1,962
  2,334
  2,745
  3,193
  3,678
  4,199
  4,756
  5,347
  5,971
  6,629
  7,320
  8,043
  8,798
  9,585
  10,405
  11,258
  12,145
  13,067
Fixed operating expenses, $m
  28
  28
  29
  29
  30
  31
  31
  32
  33
  34
  34
  35
  36
  37
  37
  38
  39
  40
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
  51
  52
Total operating expenses, $m
  86
  117
  162
  222
  302
  405
  533
  692
  882
  1,106
  1,365
  1,663
  1,998
  2,371
  2,782
  3,231
  3,717
  4,239
  4,797
  5,389
  6,014
  6,673
  7,365
  8,089
  8,845
  9,633
  10,454
  11,308
  12,196
  13,119
Operating income, $m
  -84
  -116
  -160
  -219
  -298
  -399
  -526
  -681
  -868
  -1,089
  -1,344
  -1,637
  -1,967
  -2,334
  -2,739
  -3,180
  -3,658
  -4,172
  -4,721
  -5,303
  -5,919
  -6,568
  -7,248
  -7,961
  -8,705
  -9,480
  -10,288
  -11,129
  -12,003
  -12,911
EBITDA, $m
  -84
  -115
  -158
  -217
  -295
  -395
  -521
  -675
  -860
  -1,078
  -1,331
  -1,621
  -1,947
  -2,311
  -2,711
  -3,148
  -3,622
  -4,130
  -4,673
  -5,250
  -5,860
  -6,502
  -7,175
  -7,880
  -8,617
  -9,385
  -10,184
  -11,016
  -11,882
  -12,781
Interest expense (income), $m
  0
  9
  1
  2
  4
  6
  9
  13
  18
  24
  31
  39
  49
  61
  73
  88
  103
  120
  139
  159
  180
  203
  227
  252
  278
  306
  335
  365
  396
  429
  463
Earnings before tax, $m
  -94
  -116
  -162
  -223
  -304
  -408
  -539
  -699
  -892
  -1,120
  -1,384
  -1,686
  -2,027
  -2,407
  -2,826
  -3,284
  -3,779
  -4,311
  -4,880
  -5,484
  -6,122
  -6,794
  -7,500
  -8,239
  -9,011
  -9,815
  -10,653
  -11,525
  -12,432
  -13,374
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -94
  -116
  -162
  -223
  -304
  -408
  -539
  -699
  -892
  -1,120
  -1,384
  -1,686
  -2,027
  -2,407
  -2,826
  -3,284
  -3,779
  -4,311
  -4,880
  -5,484
  -6,122
  -6,794
  -7,500
  -8,239
  -9,011
  -9,815
  -10,653
  -11,525
  -12,432
  -13,374

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  27
  42
  62
  90
  127
  175
  235
  308
  396
  501
  622
  760
  916
  1,090
  1,281
  1,491
  1,717
  1,960
  2,220
  2,496
  2,788
  3,095
  3,417
  3,755
  4,107
  4,475
  4,858
  5,256
  5,670
  6,100
Adjusted assets (=assets-cash), $m
  27
  42
  62
  90
  127
  175
  235
  308
  396
  501
  622
  760
  916
  1,090
  1,281
  1,491
  1,717
  1,960
  2,220
  2,496
  2,788
  3,095
  3,417
  3,755
  4,107
  4,475
  4,858
  5,256
  5,670
  6,100
Revenue / Adjusted assets
  0.037
  0.024
  0.032
  0.033
  0.031
  0.034
  0.034
  0.032
  0.033
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
  0.034
Average production assets, $m
  3
  4
  7
  10
  14
  19
  25
  33
  42
  54
  66
  81
  98
  116
  137
  159
  184
  210
  237
  267
  298
  331
  365
  401
  439
  478
  519
  562
  606
  652
Working capital, $m
  -10
  -15
  -23
  -33
  -47
  -65
  -87
  -114
  -147
  -185
  -230
  -281
  -339
  -403
  -474
  -551
  -635
  -725
  -821
  -923
  -1,031
  -1,144
  -1,263
  -1,388
  -1,519
  -1,654
  -1,796
  -1,943
  -2,096
  -2,255
Total debt, $m
  7
  20
  38
  64
  97
  140
  194
  260
  339
  433
  542
  666
  807
  963
  1,136
  1,324
  1,528
  1,747
  1,981
  2,229
  2,492
  2,768
  3,058
  3,362
  3,679
  4,010
  4,354
  4,713
  5,085
  5,473
Total liabilities, $m
  24
  37
  56
  81
  114
  157
  211
  277
  357
  450
  559
  684
  824
  981
  1,153
  1,341
  1,545
  1,764
  1,998
  2,246
  2,509
  2,785
  3,076
  3,379
  3,697
  4,027
  4,372
  4,730
  5,103
  5,490
Total equity, $m
  3
  4
  6
  9
  13
  17
  23
  31
  40
  50
  62
  76
  92
  109
  128
  149
  172
  196
  222
  250
  279
  309
  342
  375
  411
  447
  486
  526
  567
  610
Total liabilities and equity, $m
  27
  41
  62
  90
  127
  174
  234
  308
  397
  500
  621
  760
  916
  1,090
  1,281
  1,490
  1,717
  1,960
  2,220
  2,496
  2,788
  3,094
  3,418
  3,754
  4,108
  4,474
  4,858
  5,256
  5,670
  6,100
Debt-to-equity ratio
  2.520
  4.810
  6.200
  7.070
  7.630
  8.000
  8.260
  8.430
  8.560
  8.650
  8.720
  8.770
  8.810
  8.840
  8.860
  8.880
  8.900
  8.910
  8.920
  8.930
  8.940
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -94
  -116
  -162
  -223
  -304
  -408
  -539
  -699
  -892
  -1,120
  -1,384
  -1,686
  -2,027
  -2,407
  -2,826
  -3,284
  -3,779
  -4,311
  -4,880
  -5,484
  -6,122
  -6,794
  -7,500
  -8,239
  -9,011
  -9,815
  -10,653
  -11,525
  -12,432
  -13,374
Depreciation, amort., depletion, $m
  1
  1
  1
  2
  3
  4
  5
  7
  8
  11
  13
  16
  20
  23
  27
  32
  37
  42
  47
  53
  60
  66
  73
  80
  88
  96
  104
  112
  121
  130
Funds from operations, $m
  -93
  -115
  -160
  -221
  -301
  -404
  -534
  -692
  -883
  -1,109
  -1,371
  -1,670
  -2,008
  -2,384
  -2,799
  -3,252
  -3,742
  -4,269
  -4,832
  -5,430
  -6,063
  -6,728
  -7,427
  -8,159
  -8,923
  -9,719
  -10,549
  -11,413
  -12,310
  -13,243
Change in working capital, $m
  -4
  -5
  -8
  -10
  -14
  -18
  -22
  -27
  -33
  -39
  -45
  -51
  -58
  -64
  -71
  -77
  -84
  -90
  -96
  -102
  -108
  -114
  -119
  -125
  -130
  -136
  -142
  -147
  -153
  -159
Cash from operations, $m
  -89
  -110
  -153
  -211
  -287
  -387
  -511
  -665
  -851
  -1,070
  -1,326
  -1,619
  -1,950
  -2,320
  -2,728
  -3,174
  -3,658
  -4,179
  -4,736
  -5,328
  -5,955
  -6,615
  -7,308
  -8,034
  -8,792
  -9,584
  -10,408
  -11,265
  -12,157
  -13,084
Maintenance CAPEX, $m
  -1
  -1
  -1
  -1
  -2
  -3
  -4
  -5
  -7
  -8
  -11
  -13
  -16
  -20
  -23
  -27
  -32
  -37
  -42
  -47
  -53
  -60
  -66
  -73
  -80
  -88
  -96
  -104
  -112
  -121
New CAPEX, $m
  0
  -2
  -2
  -3
  -4
  -5
  -6
  -8
  -9
  -11
  -13
  -15
  -17
  -19
  -20
  -22
  -24
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -39
  -41
  -43
  -44
  -46
Cash from investing activities, $m
  -1
  -3
  -3
  -4
  -6
  -8
  -10
  -13
  -16
  -19
  -24
  -28
  -33
  -39
  -43
  -49
  -56
  -63
  -70
  -76
  -84
  -93
  -100
  -109
  -118
  -127
  -137
  -147
  -156
  -167
Free cash flow, $m
  -90
  -112
  -156
  -215
  -293
  -394
  -522
  -678
  -867
  -1,090
  -1,349
  -1,647
  -1,983
  -2,358
  -2,772
  -3,224
  -3,715
  -4,242
  -4,806
  -5,405
  -6,039
  -6,707
  -7,409
  -8,143
  -8,910
  -9,711
  -10,544
  -11,412
  -12,314
  -13,252
Issuance/(repayment) of debt, $m
  -96
  13
  19
  25
  33
  43
  54
  66
  79
  94
  109
  125
  140
  156
  172
  188
  204
  219
  234
  248
  263
  276
  290
  304
  317
  331
  344
  358
  373
  387
Issuance/(repurchase) of shares, $m
  187
  118
  164
  226
  308
  413
  545
  706
  901
  1,130
  1,396
  1,700
  2,043
  2,425
  2,845
  3,305
  3,802
  4,336
  4,906
  5,511
  6,151
  6,825
  7,532
  8,273
  9,046
  9,852
  10,691
  11,565
  12,473
  13,417
Cash from financing (excl. dividends), $m  
  91
  131
  183
  251
  341
  456
  599
  772
  980
  1,224
  1,505
  1,825
  2,183
  2,581
  3,017
  3,493
  4,006
  4,555
  5,140
  5,759
  6,414
  7,101
  7,822
  8,577
  9,363
  10,183
  11,035
  11,923
  12,846
  13,804
Total cash flow (excl. dividends), $m
  1
  19
  26
  36
  48
  61
  77
  94
  113
  134
  155
  178
  200
  223
  246
  269
  291
  312
  334
  354
  375
  394
  414
  433
  453
  472
  492
  511
  532
  553
Retained Cash Flow (-), $m
  -187
  -118
  -164
  -226
  -308
  -413
  -545
  -706
  -901
  -1,130
  -1,396
  -1,700
  -2,043
  -2,425
  -2,845
  -3,305
  -3,802
  -4,336
  -4,906
  -5,511
  -6,151
  -6,825
  -7,532
  -8,273
  -9,046
  -9,852
  -10,691
  -11,565
  -12,473
  -13,417
Prev. year cash balance distribution, $m
  157
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -29
  -99
  -137
  -190
  -260
  -352
  -468
  -612
  -787
  -996
  -1,241
  -1,522
  -1,842
  -2,201
  -2,599
  -3,036
  -3,511
  -4,023
  -4,572
  -5,157
  -5,777
  -6,431
  -7,118
  -7,839
  -8,593
  -9,380
  -10,200
  -11,053
  -11,941
  -12,864
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -27
  -91
  -119
  -156
  -202
  -255
  -316
  -383
  -452
  -522
  -589
  -650
  -701
  -739
  -763
  -771
  -764
  -741
  -704
  -655
  -598
  -534
  -467
  -399
  -334
  -274
  -219
  -171
  -130
  -97
Current shareholders' claim on cash, %
  50.0
  4.8
  0.5
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Adamas Pharmaceuticals, Inc. is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues. It has developed a portfolio of chrono-synchronous therapies to address chronic neurologic disorders. Its first product candidate is ADS-5102, a chrono-synchronous amantadine therapy, for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson's disease (PD). It has completed Phase II proof-of-concept study of ADS-5102 in these patients. Its Phase III clinical program included three placebo-controlled trials: EASED, EASE LID and EASE LID 3. Its second product candidate is ADS-4101, an extended-release version of single-agent compound for the treatment of epilepsy (partial onset seizures).

FINANCIAL RATIOS  of  Adamas Pharmaceuticals (ADMS)

Valuation Ratios
P/E Ratio -4.2
Price to Sales 253.6
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow -5.3
Price to Free Cash Flow -5.1
Growth Rates
Sales Growth Rate -50%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -44.3%
Ret/ On Assets - 3 Yr. Avg. -24%
Return On Total Capital -48.4%
Ret/ On T. Cap. - 3 Yr. Avg. -26.3%
Return On Equity -48.4%
Return On Equity - 3 Yr. Avg. -26.3%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -5900%
EBITDA Margin - 3 Yr. Avg. -2906%
Operating Margin -6100%
Oper. Margin - 3 Yr. Avg. -2972%
Pre-Tax Margin -6000%
Pre-Tax Margin - 3 Yr. Avg. -2939.3%
Net Profit Margin -6000%
Net Profit Margin - 3 Yr. Avg. -2860.7%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 17.7%
Payout Ratio 0%

ADMS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ADMS stock intrinsic value calculation we used $0.571 million for the last fiscal year's total revenue generated by Adamas Pharmaceuticals. The default revenue input number comes from 0001 income statement of Adamas Pharmaceuticals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ADMS stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ADMS is calculated based on our internal credit rating of Adamas Pharmaceuticals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Adamas Pharmaceuticals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ADMS stock the variable cost ratio is equal to 6300%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $27 million in the base year in the intrinsic value calculation for ADMS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.1% for Adamas Pharmaceuticals.

Corporate tax rate of 27% is the nominal tax rate for Adamas Pharmaceuticals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ADMS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ADMS are equal to 314.4%.

Life of production assets of 2.6 years is the average useful life of capital assets used in Adamas Pharmaceuticals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ADMS is equal to -1087.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $66.126 million for Adamas Pharmaceuticals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 26.982 million for Adamas Pharmaceuticals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Adamas Pharmaceuticals at the current share price and the inputted number of shares is $0.3 billion.

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COMPANY NEWS

▶ Adamas to Present at Three November Investor Conferences   [Nov-09-18 01:49PM  GlobeNewswire]
▶ Adamas: 3Q Earnings Snapshot   [Nov-01-18 05:52PM  Associated Press]
▶ Why Adamas Pharmaceuticals, Inc. Stock Sank in September   [Oct-12-18 09:00AM  Motley Fool]
▶ Adamas Announces New Employment Inducement Grant   [Oct-05-18 05:51PM  GlobeNewswire]
▶ Adamas Announces New Employment Inducement Grant   [Sep-12-18 04:30PM  GlobeNewswire]
▶ Adamas Announces New Employment Inducement Grant   [Aug-08-18 04:30PM  GlobeNewswire]
▶ Adamas: 2Q Earnings Snapshot   [05:59PM  Associated Press]
▶ Adamas Announces New Employment Inducement Grant   [Jul-09-18 04:39PM  GlobeNewswire]
▶ Adamas Announces New Employment Inducement Grant   [Jun-08-18 05:55PM  GlobeNewswire]
▶ Adamas to Present at Two Upcoming Investor Conferences   [Jun-07-18 04:30PM  GlobeNewswire]
▶ Adamas Announces New Employment Inducement Grant   [May-09-18 04:05PM  GlobeNewswire]
▶ Adamas: 1Q Earnings Snapshot   [May-03-18 06:29PM  Associated Press]
▶ Adamas to Present at Two Upcoming Investor Conferences   [May-02-18 03:22PM  GlobeNewswire]
▶ Adamas to Present at Two Upcoming Investor Conferences   [Mar-06-18 02:35PM  GlobeNewswire]
▶ New Strong Sell Stocks for February 26th   [Feb-26-18 04:59AM  Zacks]
▶ Here's Why Adamas Pharmaceuticals Dropped Today   [Feb-23-18 12:35PM  Motley Fool]
▶ Adamas reports 4Q loss   [Feb-22-18 04:59PM  Associated Press]
▶ Why Adamas Pharmaceuticals Fell Today   [Feb-20-18 02:21PM  Motley Fool]
▶ 3 Biotech Stocks To Avoid   [10:07AM  Forbes]
▶ Adamas Announces New Employment Inducement Grant   [Feb-09-18 05:26PM  GlobeNewswire]
▶ Adamas Announces Pricing of Public Offering of Common Stock   [Jan-23-18 08:29PM  GlobeNewswire]
▶ 7 Stocks Ready to Jump Another 30% in 2018   [Dec-19-17 01:37PM  InvestorPlace]
▶ Adamas Announces New Employment Inducement Grant   [Dec-08-17 04:05PM  GlobeNewswire]
▶ 9 Stocks Steven Cohen Keeps Buying   [Nov-22-17 03:57PM  GuruFocus.com]
▶ Adamas Announces New Employment Inducement Grant   [Nov-08-17 04:17PM  GlobeNewswire]
▶ 3 Biotech Stocks That Soared This Week: Are They Buys?   [Nov-04-17 03:02PM  Motley Fool]
▶ Adamas reports 3Q loss   [Nov-02-17 05:26PM  Associated Press]

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