Ampio Pharmaceuticals
Ampio Pharmaceuticals announced voluntary delisting from the NYSE American and SEC deregistration on March 25, 2024, while continuing to address pending legal proceedings and exploring options including liquidation or bankruptcy.
Company Overview
Ampio Pharmaceuticals focuses on advancing its pharmaceutical development programs. It faces ongoing legal proceedings and has taken various strategic actions to manage its current state. Recently, the board has made critical decisions impacting its operations and stock listings.
Voluntary Delisting and Deregistration
On March 25, 2024, Ampio Pharmaceuticals' Board of Directors decided to pursue voluntary delisting of the Company's common stock from the NYSE American. Post-delisting, the Company aims to suspend reporting obligations under Sections 13 and 15(d) of the Securities Exchange Act of 1934 and deregister its common stock under Section 12(b) of the Exchange Act.
Potential Company Liquidation
Ampio Pharmaceuticals' Board of Directors is considering several strategic options, including liquidation and dissolution, subject to Board and stockholder approval. This strategy aims to address the Company's financial standing and operational sustainability effectively.
Pending Legal Proceedings
Ampio Pharmaceuticals is working on resolving pending legal actions, as described in its Annual Report on Form 10-K. A notable update includes a settlement in principle for certain legal matters announced on January 12, 2024.
Audit Opinion
On April 3, 2024, Ampio Pharmaceuticals received an audit opinion with an emphasis on a going concern explanation, indicating the need for careful consideration of the Company’s financial viability.
Pharmaceutical Development Updates
Ampio Pharmaceuticals provided updates on pre-IND enabling studies on February 15, 2024. Additionally, on October 6, 2023, the Company selected Ascendia Pharmaceuticals, Inc. to offer CDMO services to support the clinical development of its OA-201 program.