Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) stock soars by 16.32% in the current market trading session. Ampio Pharmaceuticals is a pharmaceutical firm specializing in the development of immunology-based treatments to treat common inflammatory diseases with few therapeutic choices.
AMPE stock’ Significant Development
Top-line data from AP-013 which is a randomised, saline-controlled, double-blind Phase III clinical study in order to test the safety of an intra-articular (IA) injection of Ampion in individuals with pain due to severe osteoarthritis of the knee, were released by Ampio Pharmaceuticals (OAK). Ampion exhibited a significant reduction in pain and recovery in function in severe OAK patients after 12 weeks in the research.
The AP-013 trial was the second of two Phase III pivotal trials necessary to prove the effectiveness of an IA injection of Ampion for the management of patients with severe OAK. After adopting AP-003-A as the first of two needed Phase III pivotal studies, the FDA recognized that Ampion had showed effectiveness in OAK patients. The FDA has designated severe OAK as an unmet medical need, and there are presently no FDA-approved medications for the treatment of pain associated with severe OAK, which Ampion is designed for.
Mike Macaluso, President & CEO of Ampio commented,
The company is thankful to all of the patients, scientists, and anyone who took part in this research and made it valuable. He is also delighted with their current cash and liquidity runway, which they believe is able to sustain their basic operations. It is also expected that it would feasibly cover their incremental spend for current and ongoing clinical trials for the next twelve months, while they continue to work on regulatory and partnering issues related to Ampion. With the aim of filing a BLA for Ampion, they will finish the evaluation of the AP-013 study and deliver all results to the FDA