Why did Ampio Pharmaceuticals Inc. (AMPE) stock sink on Wednesday?

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SLGC Stock
SLGC Stock

Ampio Pharmaceuticals Inc. (AMPE) shares sank 15.41% in the after-hours on Wednesday, December 01, 2021, and closed the daily trading at $0.93 per share.  Even in the regular trading on Wednesday, AMPE’s stock lost 2.65%. AMPE shares have risen 20.31% over the last 12 months, and they have moved down 0.90% in the past week. Over the past three months, the stock has lost 32.52%, while over the past six months, it has declined 35.67%.

Let’s discuss its recent news and developments.


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AMPE latest news

On December 01, 2021, Ampio Pharmaceuticals hosted a business update call with its chairman and CEO, Mike Martino. There are no details available yet about the content of the call.

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AMPE recent corporate update

On November 22, 2021, Ampio Pharmaceuticals (AMPE announced that Mike Macaluso is taking a one-year medical leave of absence from his role as Chairman and CEO, effective immediately.

Ampio Board member Michael Martino has been appointed as Interim Chairman of the Board of Directors and CEO, effective immediately. Holli Cherevka continues in her role as President and COO.

AMPE latest financial results

On November 10, 2021, Ampio Pharmaceuticals, Inc. (AMPE) reported results for the three- and nine-month periods ended September 30, 2021.

Q3 2021 financial highlights

  • AMPE reported nil revenue in Q3 2021.
  • Total operating expenses were $3.85 million in Q3 2021 compared to $3.30 million in Q3 2020.
  • It suffered a net loss of $3.62 million or $0.02 net loss per common share in Q3 2021 compared to a net loss of $3.36 or $0.02 net loss per common share in Q3 2020.
  • As of September 30, 2021, Ampio had cash and cash equivalents totaling $17.1 million compared to $17.3 million on December 31, 2020.

AMPE new appointments

On October 13, 2021, Ampio Pharmaceuticals (AMPE), appointed Howard Levy, M.B.B.Ch., Ph.D., 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.

AMPE receive DCGI approval

On September 21, 2021, Ampio Pharmaceuticals (AMPE) received regulatory approval from the Drugs Controller General of India (DCGI) of the Central Drugs Standard Control Organization (CDSCO) in 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.

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Conclusion

Well, as of this writing we’re unable to find any recent news which could be linked with its poor performance on Wednesday. we have to wait and see what Ampio chairman said in a business call yesterday.

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