The stock of Ampio Pharmaceuticals Inc (NYSEAMERICAN:AMPE) closed at $2.18 losing 4.80% in yesterday’s trading session. The 50% jump in the shares of Ampio witnessed on Thursday’s trading session was great news for those that had invested in it. But to this point many are still not able to comprehend how that came into play.
The Phase 3 clinical trial that was conducted previously indicated that Ampion, which happens to be the company’s knee osteoarthritis drug met its primary endpoint.
Ampio Chairman and CEO Michael Macaluso recently commented in relation to the new development. He outlined that as a company they were delighted by the positive Phase 3 data expressing great optimism that it was going to address an unmet medical need. The new solution will help minimize pain among the various patients around the globe. The other thing is that it will improve function as well as the quality of life in a rather meaningful way.
According to him, the product was going to play a huge role serving as a safe and effective treatment for an incurable, progressive disease that has over the years afflicted over 200 million people around the world. In the U.S alone, the condition has afflicted about 21 million and it is great news to all of them a solution has been found.
He added that they were going to try their level best to collaborate with the U.S. Food and Drug Administration and that soon they will be able to submit their Biologics License Application (BLA) for Ampion.
If everything moves according to plan and the product gets approved, it will then make Ampion the first intra-articular injection ever developed to deal with the signs and symptoms of patients struggling with severe osteoarthritis of the knee.
One of the researchers said, “Ampion was well tolerated with treatment-emergent adverse events (TEAEs) comparable to those of placebo in all single-injection studies of Ampion. There were no drug-related serious TEAEs associated with the Ampion arm. The safety and tolerability profile of Ampion is consistent with previous studies.”
To this point in time, Ampion has been administered to about 900 patients.