Ampio Pharma slides after launching internal probe

Ampio Pharmaceuticals

17/05/2022 12:58

** Drug developer's shares  AMPE.A  fall 21.4% to 16 cents
premarket
    ** Stock among the top decliners across U.S. exchanges
before the bell 
    ** Co says it is in the process of conducting an internal
investigation into the clinical trial of its pain drug, and that
recent analyses suggest no meaningful effect in co's COVID-19
treatment trials  urn:newsml:reuters.com:*:nPn8Rz7yMa
    ** Says it is taking the assistance of outside legal counsel
on the probe 
    ** Last month, co said the U.S. FDA  did not agree with co's
proposal to consider an earlier trial of the drug, Ampion, as
basis for approval  urn:newsml:reuters.com:*:nL3N2WJ22M
    ** AMPE shares have fallen ~63% in value YTD 

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))