From the press release.
A CRL is issued by the FDA's Center for Drug Evaluation and Research when it has completed its review of a file and questions remain that preclude the approval of the NDA in its current form.
ADMP closed yesterday (02015.03.29) $5.39. It opened today at $4.19 and closed at $3.83, down almost 29% (intra-day low was 3.56). Volume was 1.86 million vs. 0.19 million. 52-week range: $2.62 - $7.26.
Since the news was released some shareholder class action lawsuits are been initiated.