Ampio rails against FDA ruling as stock crashes
It was a black, black Wednesday for Ampio Pharmaceuticals (NYSE: AMPE) as its stock slumped to a value of just $0.61.
That represents a 79% decline in a day and in after-hours trading the value slipped by a further 26%, hinting at a tough day to come on Thursday too.
The reason for the investor desertion was that the US Food and Drug Administration (FDA) ruled that a further study was needed for the company’s treatment of osteoarthritis of the knee, to support a marketing application.
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