Today’s Research Reports on Stocks to Watch: Ampio Pharmaceuticals and Ardelyx Inc.
Shares of both Ampio Pharmaceuticals and Ardelyx Inc. soared on Thursday after both companies had data news respectively. Ampio skyrocketed after announcing a publication of analysis of Ampion, the company’s low molecular weight fraction of human serum albumin (HSA) currently being developed for the treatment of pain due to osteoarthritis of the knee. Ardelyx announced positive data results from the Phase 3 T3MPO-2 trial of tenepanor, its irritable bowel syndrome drug.
RDI Initiates Coverage on:
Ampio Pharmaceuticals, Inc.
Ampio Pharmaceuticals, Inc. shares closed up 26.70% on Thursday with nearly 4.8 million shares traded. The stock even hit a new high of $1.34 during intra-day trading after the company announced that a manuscript titled: "LMWF-5A For The Treatment Of Severe Osteoarthritis Of The Knee: Integrated Analysis Of Safety And Efficacy" was accepted for publication in Orthopedics. Orthopedics is an international peer-reviewed journal in the field of Orthopedics. Ampion™ is in late-stage development to treat the signs and symptoms of severe osteoarthritis of the knee (OAK). The company’s Chief Scientific Officer, David Bar-Or commented, "This was a combined analysis of all completed single-injection Ampion™ randomized placebo-controlled trials to date, focusing on the subset of patients with severe (Kellgren-Lawrence [KL] grade 4) osteoarthritis of the knee (OAK). The objective of the study was to examine the safety and efficacy of an intra-articular injection of Ampion™ compared to a saline placebo control in patients with severe OAK. Safety and efficacy measurements, subject eligibility, treatment, randomization and blinding, were identical across all trials." Co-author Dr. Brian Cole commented, "These results are clinically important and provide support for Ampion™ for the indication of pain due to severe OAK."
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Ardelyx, Inc. shares closed up 44.44% yesterday with a little over 26 million shares traded compared to an average of roughly 300,000 shares. Shares started skyrocketing after the company announced Wednesday night, positive data from the Phase 3 T3MPO-2 trial of tenapanor, an irritable bowel syndrome drug. According to the results, 36.5% of the patients taking tenapanor were deemed responders. This means that the patient had at least a 30% reduction in abdominal pain as well as an increase in at least one spontaneous bowel movement in the same week for at least six of the 12 weeks the patient was treated. The company is expecting to submit a marketing application to the Food and Drug Administration in the second half of next year. According to the company’s CEO Mike Raab, the results mean a "game-changer for patients with IBS-C." IBS-C is IBS with constipation.
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Our Actionable Research on Ampio Pharmaceuticals, Inc. (NYSE: AMPE) and Ardelyx, Inc. (NASDAQ: ARDX) be downloaded free of charge at Research Driven Investing.
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