Why Ampio Pharmaceuticals Stock Is Trading Higher Today

Ampio Pharmaceuticals Inc AMPE shares are trading higher Wednesday after the company announced top-line results from the AP-013 Phase III study of Ampion in patients suffering from severe osteoarthritis of the knee (OAK).

Ampion demonstrated a statistically significant reduction in pain and improvement in function at 12 weeks in severe OAK patients.

Ampio’s current cash runway is expected to provide sufficient near-term liquidity to support its existing business operations.

Ampio said it plans to meet with the Food and Drug Administration to discuss the Phase III results and a Biologics License Application.

“I am also very pleased with our current cash and liquidity runway, which we believe is sufficient to support our basic operations and expected incremental spend for current and ongoing clinical trials for approximately twelve months, while we continue regulatory and partnering discussions related to Ampion," said Mike Macaluso, president and CEO of Ampio.

"We will complete the analysis of the AP-013 study and present all data to the FDA with the goal of filing a BLA for Ampion," he added.

AMPE Price Action: Ampio has traded as high as $2.98 and as low as 72 cents over a 52-week period.

The stock was up 14.20% at $1.65 at time of publication.

Photo: Angelo Esslinger from Pixabay.