AMPE - Ampio drops amid plans to end studies for COVID-19 therapy

Ampio Pharmaceuticals (NYSE:AMPE), a company focused on immunomodulatory therapies, is trading lower in the post-market Thursday as investors react to its plans to discontinue the COVID-19 program for experimental therapy Ampion. Issuing a letter to shareholders, Ampion (AMPE) Chief Executive Mike Martino noted that as previous announced in May, the program consisting of three clinical trials; AP-017, AP-018 and AP-019 failed to show a clinically meaningful treatment effect. The trials did not reach the primary endpoints, mortality and time to mechanical ventilation with statistical significance, he explained. “Given these results and the changing Covid treatment landscape, we believe it would be an unwise use of investor funds to continue the COVID-19 program at this time,” Martino added. Last April, the company said that the FDA did not agree to consider a late-stage trial called AP-013 as a second pivotal trial to support the efficacy of an intra-articular injection of Ampion

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Ampio drops amid plans to end studies for COVID-19 therapy