Ampio Pharma: Drops after pricing deep-discounted stock deal

Ampio Pharmaceuticals

17/06/2019 13:41

(Updates, adds pricing info)
    ** Ampio Pharmaceuticals  AMPE.N  down 26% premarket after
co prices its follow-on
    ** Co says will raise up to $12 mln by selling 25.3 mln
shares and anticipates selling an additional 4.7 mln shares in
offering priced at $0.40, a 43% discount to stock's last sale
 urn:newsml:reuters.com:*:nPn3CvYVja
    ** Intends to use net proceeds for full cost of its AP-013
clinical trial pursuant to recently announced special protocol
assessment (SPA), and other general corp purposes
    ** Early Fri, co said it received FDA approval of its SPA of
clinical protocol for lead drug Ampion  urn:newsml:reuters.com:*:nPn1hfQcpa
    ** Ampion is an injectable drug being developed to treat
severe osteoarthritis of the knee
    ** Stock offering represents ~27% of co's total shares
outstanding, per Refinitiv data
    ** ~380K AMPE shares have traded before the bell, roughly
80% of the 10-DMA volume
    ** AMPE shares up 77% YTD following 90% plunge in 2018

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