Ampio Pharmaceuticals, Inc. (AMPE), a biopharmaceutical company, has surged 20.52% in aftermarket trading session. Consequently, the stock was trading at $0.60 when last checked. During Wednesday’s regular trading session, the stock soared by 10.33% to close the day at $0.50. The surge in aftermarket came after the company released positive study results for Ampion.
Why AMPE Surging?
On Wednesday, after the closure of the market, AMPE announced the positive data from the modified Intent-to-Treat (mITT) population in its AP-013 study. The study relates to the Phase-3 clinical trial of the lead candidate of the company, Ampion™. The trial is being conducted in patients having severe osteoarthritis of the knee. The study was to confirm the efficiency observed in AP-003-A. It was powered to detect the difference in treatment in Ampion and saline control.
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New Appointment in BoD
On the 10th of February, AMPE announced the appointment of Elizabeth Varki Jobes, Esq. to the Board of Directors of the company. As a result of the appointment, the Board of Directors of the company expands from seven members to eight. Ms Jobes has experience of more than 3 decades in the resolution of compliance and legal matters. Currently, she is serving as the Senior Vice President and Global Chief Compliance Officer at Amryt Pharmaceuticals Inc.
Presentation at H.C. Wainwright Bioconnect Conference
On the 6th of January, AMPE reported that its executive management would present at the H.C. Wainwright Bioconnect Conference. The conference was to take place in virtual mode from 10th to 13th of January 2022. Chief Executive Officer of Ampio Pharmaceuticals, Michael Martino, was to present an updated overview regarding the Company’s prime product, i.e. Ampio.
What’s Ahead for AMPE?
Looking ahead, analysts are of the view that short-term indicators are positive for AMPE stock despite it being in a falling trend. Hence, at the current level, the stock holds the buying opportunity for the investors.