Ampio Pharmaceuticals, Inc. (AMPE) Accused of Using Trade Secrets to Enhance Its Product
According to the recent class action complaint, Ampio Pharmaceuticals, Inc. (AMPE) reported in an SEC filing that the company had successfully completed a pivotal clinical trial for Ampion, AP-003-A, and subsequently reported positive results from its AP-003-C trial. As the U.S. Food and Drug Administration (“FDA”) required two pivotal trials in support of a Biologics License Application (“BLA”) for Ampion, Ampio, encouraged by the results, predicted Ampion would serve as a safe and effective treatment for patients. However, on August 7, 2018, Ampio revealed that the FDA did not consider the AP-003-C trial to be an adequate and well-controlled clinical trial. Further, the FDA recommended that Ampio perform an additional randomized trial in order to support a BLA. On this news, Ampio’s stock price plummeted over 78% to close at $0.61 per share on August 8, 2018.