Shares of Adamis Pharmaceuticals Corp. shot up 58% toward a six-month high in premarket trade Monday, after the maker a competitor to Mylan N.V.'s EpiPen announced a distribution and commercialization agreement with Novartis AG's Sandoz Inc. unit for https://www.marketwatch.com/story/you-still-cant-buy-this-epipen-competitor-eight-months-later-2018-02-27. Under terms of the deal, Adamis will receive an upfront fee and performance based milestone payments from Sandoz, in exchange the U.S. commercial rights to Symjepi, and Adamis and Sandoz will share the net profits equally. "We believe the financial terms of this agreement have the potential to bring meaningful recurring revenue to Adamis and we look forward to growing, and possibly expanding, this partnership with Sandoz based on the future success of Symjepi in the market," said Adamis Chief Executive Dennis Carlo. Symjepi had been approved last July, but it was delayed in coming to market to compete with Mylan's EpiPen while Adamis searched for a commercial partner. Novartis' stock slipped 1% in premarket trade, while Mylan shares were indicated down about 0.1%. Over the past three months, Adamis's stock had lost 5.9%, Mylan shares shed 8.6% and the S&P 500 gained 5.3%.