On March 02, Ampio Pharmaceuticals Inc. (AMPE) announced positive data from Phase 3 clinical trial of AmpionTM in severe osteoarthritis of the knee (OAK). Consequently, the stock remained bullish in the following sessions.
During the regular session, the stock fluctuated between a high of $0.51 and a low of $0.45. At an above-average volume of 5.9 million shares, AMPE stock closed the session in the green with a good gain of 10.33%. After closing the session at a value of $0.50 per share, the stock continued to hike in the after hours. As the company held a webinar in the after-hours to discuss the data along with its analysis, the stock added a further 21.00%. Hence, the stock was trading at $0.61 apiece in the after-hours on Wednesday. The after-hours volume remained more than the regular session’s average at 3.68 million shares.
The biopharmaceutical company, Ampio Pharmaceuticals Inc. has a market capitalization of $103.34 million. Currently, the company has 227.13 million shares outstanding in the market. In the past five days, the stock has added 16.74% while losing 11.93% year to date.
AP-013 Positive Data
The company’s AP-013 study was designed for the confirmation of the efficacy of Ampion as observed in the first AP-003-A trial. Moreover, the trial was also detecting the difference between Apmion and saline control.
Commenced in June 2019, the trial suffered a loss of huge data due to the pandemic. As per the FDA’s recommendation, the company conducted a sensitivity analysis for the impact of Covid-19 on the study. Thus, AMPE proposed a modified Intent-to-Treat (mITT) population for evaluating the efficacy.
On Wednesday, the company reported positive data from the mITT population in its phase 3 AP-013 trial. The data confirmed the results of AP-003-A and supported the safety and efficacy of Ampion for the treatment of OAK.
Additionally, FDA has confirmed the company’s Type C Meeting request.
AMPE Financial Summary
On November 10, 2021, the company declared its financial results for the third quarter of 2021 along with future guidance.
In Q3 2021, AMPE incurred a net loss of $0.02 per diluted share against $0.06 in the previous-year period.
The company had cash and cash equivalents of $17.1 million at the end of Q3 2021. AMPE believed the cash and cash equivalents along with external sources of liquidity to be enough for funding its operations through Q1 2023.
