LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has initiated an investigation on behalf of Ampio Pharmaceuticals, Inc. (“Ampio” or the “Company”) (US NYSE: AMPE) regarding the Company’s possible violations of federal securities laws.
If you have suffered a loss on your Ampio investments or would like to inquire about possible claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/ cases/ampio-pharmaceuticals-inc-1/. You may also contact Charles H. Linehan of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] to learn more about your rights.
On April 20, 2022, Ampio announced that the United States Food and Drug Administration (“FDA”) had responded negatively to its Type C meeting request for the Company’s AP-013 clinical trial and that the FDA had concluded that the Company should have requested the FDA’s approval of changes made to the data analysis before analyzing and unblinding the data. On this news, the Company’s stock price fell $0.09, or 26%, to close at $0.25 per share on April 21, 2022.
Then, on May 16, 2022, Ampio announced that it had formed a special committee to conduct an internal investigation focused on Ampio’s AP-013 clinical trial and the unauthorized supply of its anti-inflammatory drug Ampion to the use by persons not participating in clinical trials. On this news, the Company’s stock price fell $0.04, or 10%, to close at $0.18 per share on May 18, 2022.
Then, on August 3, 2022, Ampio revealed that, as of March 2020, “senior executives were aware. . . that the AP-013 trial did not demonstrate the efficacy of Ampion on its co-primary endpoints of pain and function; and that these individuals have not fully reported the results of the AP-013 trial and the timing of the unblinding of the AP-013 trial data.” The Company also disclosed “that certain members of the Ampio personnel, including a former officer and certain former directors, facilitated the provision of Ampion for unauthorized use.”
On this news, Ampio’s stock fell $0.06, or 37.5%, to close at $0.10 per share on August 3, 2022, hurting investors.
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Notice of denunciation: People with nonpublic information about Ampio should consider their options to help the investigation or take advantage of the SEC’s whistleblower program. Under this program, whistleblowers who provide original information can receive rewards of up to 30% of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected]
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