Ampio Pharmaceuticals Inc. (AMPE) shares slumped 7.79% in after-hours on Wednesday, November 10, 2021, and closed the daily trading at $1.42. Even in the regular trading session, AMPE’s stock lost 5.52%. AMPE shares have risen 95.93% over the last 12 months, and they have moved down 7.23% in the past week. Over the past three months, the stock has gained 3.36%, while over the past six months, it has declined 15.38%.
Let’s see what are the latest news about the company?
AMPE latest news
On November 10, 2021, Ampio Pharmaceuticals, Inc. (AMPE), announced results for the three- and nine-month periods ended September 30, 2021.
Q3 2021 financial highlights
- Total operating expenses were $3.85 million compared to $3.30 million in Q3 2020.
- AMPE suffered a net loss of $3.63 million or a net loss of $0.02 per basic and diluted share in Q3 2021 compared to a net loss of $3.37 million or net loss of $0.02 per basic and diluted share in Q3 2020.
- The company did not report any revenue or sales for Q3 2021.
- As of September 30, 2021, the company had cash and cash equivalents totalling $17.1 million compared to $17.3 million on December 31, 2020.
AMPE corporate changes
On October 13, 2021, Ampio Pharmaceuticals (AMPE), appointed Howard Levy, M.B.B.Ch., PhD, M.M.M., as Chief Medical Officer (CMO) and J. Kevin Buchi and Michael Martino to the Ampio Pharmaceuticals Board of Directors.
Dr Levy, Mr Buchi, and Mr Martino both have extensive experience as CEOs, senior executives, and board members of both private and public biopharmaceutical and pharmaceutical companies.
The company also promoted Holli Cherevka to the position of President and Chief Operating Officer (COO).
AMPE received DCGI approval for AP-019 Phase II study
On September 21, 2021, the Drugs Controller General of India (DCGI) approved Ampio Pharmaceuticals (AMPE) Phase II AP-019 clinical trial in India. The study will utilize inhaled Ampion™ to treat those suffering from respiratory distress due to COVID-19.
India has experienced over 33 million infections and over 440 thousand reported coronavirus-related deaths since the pandemic began.
Ampion interrupts the hyperactive immune response associated with COVID-19 as an immunomodulatory agent with anti-inflammatory effects. The inhalation of Ampion allows the drug to directly target and attenuate inflammation in the lungs, caused by the Covid-19.
Conclusion
The recent financial results were the reason behind its negative performance on Wednesday. Still, the company is not generating and revenue and it reported a significant loss for Q3. We can expect it to further decline on Thursday as well.
