SAN DIEGO, Sept. 17, 2022 (GLOBE NEWSWIRE) — The class: Law firm for shareholder rights Robbins LLP reminds investors that it has filed a class action lawsuit on behalf of all individuals who purchased or otherwise acquired Ampio Pharmaceuticals, Inc. (“Ampio”) AMPE Common Stock between December 29, 2020 and August 3, 2022 against the Company and certain officers of the Company, including for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and U.S. Rule 10b -5 of the Securities and Exchange Commission, published below.
Additional information regarding misconduct by Ampio Pharmaceuticals, Inc. can be found here here.
What is it about in this case: Ampio Pharmaceuticals, Inc. (AMPE) is accused of misrepresenting the effectiveness of its drug Ampion®
The lawsuit stems from the Company’s misrepresentations regarding the ability of Ampion, its lead product, to treat individuals with inflammatory conditions including, but not limited to, severe osteoarthritis of the knee (“OAC”). From 2010 to around March 2022, Ampio conducted numerous clinical studies and analyzes to determine the effectiveness of Ampion. Although confidentially advertised on numerous occasions that Ampion demonstrated a statistically significant reduction in pain associated with symptomatic moderately severe OAC, the company failed to bring Ampion to market. On May 16, 2022, the Company announced that it had formed a special committee to conduct an internal investigation focused on the statistical analysis of Ampio’s AP-013 clinical study and the unauthorized provision of Ampion, which has not yet been approved by the US -US Food and Drug Administration approved. Then, on August 3, 2022, Ampio announced that “at the time of the March 2020 interim per-protocol analysis, the senior staff were aware that the AP-013 study had not demonstrated efficacy for Ampion on its co-primary endpoints has pain and function, and that these individuals have the results of the AP-013 study and the timing of unblinding from…
