Ampio Pharmaceuticals Inc (NYSEAMERICAN: AMPE) is having a strong start to the trading session this morning, and for good reason. The company announced a clinical update, exciting investors who are pushing the stock on a run for the top. Today, we’ll talk about:
- The update;
- what we’re seeing from AMPE stock as a result; and
- what we’ll be watching for ahead.
AMPE Announces Clinical Update
As mentioned above, Ampio Pharmaceuticals is having an incredibly strong start to the trading session this morning after the company announced a clinical update.
In a press release issued early this morning, AMPE said that it has received an initial response from the U.S. Food and Drug Administration, Office of Tissue and Advanced Therapy division. The response was regarding the company’s submission of a a proposed trial design for the treatment of KL4 Osteoarthritis patients with Ampion.
The company said that the trial design includes concurrent controls and would be carried out under a Special Protocol Assessment.
In a statement, Michael Macaluso, CEO at AMPE, had the following to offer:
A SPA is an agreement between the sponsor and FDA that the trial design, clinical endpoints, and statistical analyses could support marketing approval. The recently received FDA correspondence included guidance and questions that require a response from Ampio, which is routine under these circumstances. We are preparing our response to their comments that will include additional questions to allow maximum clarity. We will provide an update as soon as this process is completed.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Ampio, the news proved to be positive. The company is making progress with regard to a proposed trial, exciting investors and sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:25), AMPE is trading at $0.66 per share after a gain of $0.04 per share or 6.43% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMPE. In particular, we’re interested in following the story surrounding the company’s continued work ot bring its Ampion treatment to the market for an expanding number of indications. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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