The share price of Ampio pharmaceutical (AMPE) increased after the market close on March 3 after the company announced the Q4 2020 results and also provide an update about their business. On March 3, 2021, the share price dropped 12.54% in the normal trading session and closed at $1.43 per share. Today in pre-market trading, the share price went up by16%.
Financial Results for Year Ended December 31, 2020
For the year 2020, the company’s Cash and cash equivalents were $17.3 million compared to $6.5 million on December 31, 2019
The company spent $9.2 million in Research and development expenditures for FY 2020 compared to $12.6 million for the same period in 2019. The decrease was due to the AP-013 study being temporarily paused due to the pandemic breakout.
The other expenses such as General and administrative expenseswere $6.7 million for the year ended December 31, 2020. The company had a miscellaneous expense of $5.0 million in the reported year.
The company had a net loss of $15.9 million or $0.09 on a fully diluted per share basis in the reported year compared to a net loss of $13.6 million, or $0.14 on a fully diluted per share basis, for the same period in 2019. The high net loss is due to the reduction in income due to a derivative loss on previously issued investor warrants
The total shares of common stock outstanding were 193,378,996 on December 31, 2020, compared to 158,644,757 on December 31, 2019.
Company’s business update:
The President and CEO of the company Mr Michael Macaluso explained that the FDA has replied to them back to expand our IV and Inhalation Covid-19 studies, utilizing Ampion. Now the company can conduct a randomized, double-blinded, placebo-controlled Phase II trial in each. He also said that the Ampion has provided a detailed proposal to the FDA in response to their recent guidance regarding the status of our Osteoarthritis of the Knee (OAK) Phase III clinical trial, which is paused as a result of the COVID pandemic.
The company is going to hosta Conference Call for the Investment Community this afternoon beginning at 4:30 PM ET and will cover the following topic.
COVID-19 Platform / Pipeline Overview and Update
- AP-014 (inhaled) and AP-016 (intravenous) clinical trial update
- Possibility of obtaining an Emergency Use Authorization (EUA) from the FDA for inhaled and intravenous Ampion
OAK Clinical Trial 2021 Timeline / Update
- Ampio’s Osteoarthritis of the Knee (OAK) Phase III trial being conducted under a Special Protocol Assessment (SPA) with the FDA
- Ampio harmonizes steps for the OAK Phase III trial with the FDA guidance during the COVID-19 health emergency and submitted a SPA amendment to the FDA
PASC/long-haulier and Other Clinical Trial 2021 Timelines / Updates
- Status of PASC/long-haulier Study
- Kidney Disease
- Pediatric diseases
The company is going to participate in the virtual H.C. Wainwright Global Life Sciences Conference scheduled for Tuesday, March 9, 2021, through Wednesday, March 10, 2021.The video webcast presentation will be available for viewing on-demand beginning Tuesday, March 9, 2021, at 7:00 am (EST). only registered persons would be able to access the event video.
For more information and to register for the conference, please visit Ampio’s website here.
Webcast link: https://journey.ct.events/view/9d6b477a-99ab-451d-a4da-