What Are Limiting Factors In Animal Pharmaceuticals Industry

, /PRNewswire/ -- Ampio Pharmaceuticals, Inc. (NYSE American: AMPE), a biopharmaceutical company focused on the advancement of immunomodulatory therapies for the treatment of pain resulting from osteoarthritis in the knee and potentially other articular joints, today reported financial results for the outset quarter ended March 31, 2022.

Beginning Quarter Financial Results

Net Loss: Net loss was $5.half dozen million for the first quarter of 2022 compared to net loss of $iii.7 million for the first quarter of 2021. Farther details on these variances are beneath.
R&D Expenses: Research and evolution expenses were $3.vii meg for the first quarter of 2022 compared to $2.three million for the first quarter of 2021. The principal drivers of the increase were increases in (i) clinical trial and sponsored research expenses and (2) salaries and professional fees.
Thousand&A Expenses: Full general and administrative expenses were $3.3 million for the beginning quarter of 2022 compared to $one.5 million for the first quarter of 2021. The primary drivers of the increase were increases in (i) salaries and professional person fees and (2) non-cash stock-based compensation expense.
Cash Position / Liquidity: Cash and cash equivalents on March 31, 2022, totaled $28.eight one thousand thousand, compared to $33.9 million as of Dec 31, 2021. The decrease of $5.1 one thousand thousand is primarily owing to cash required to fund business operations. Based on our current cash position and projection of operating expenses and upper-case letter expenditures, we believe that we will accept sufficient liquidity to fund operations into the second half of 2023.

Farther details on First Quarter 2022 Financials are included below:

AMPIO PHARMACEUTICALS, INC. Condensed Balance Sheets (unaudited)

	March 31,		December 31,
	2022		2021

Assets
Electric current assets
Cash and cash equivalents	$	28,837,000	$	33,892,000
Prepaid expenses and other		one,070,000		1,740,000
Full electric current assets		29,907,000		35,632,000

Fixed avails, net		ii,302,000		ii,564,000
Right-of-use nugget, net		577,000		629,000
Total assets	$	32,786,000	$	38,825,000

Liabilities and Stockholders' Equity
Electric current liabilities
Accounts payable and accrued expenses	$	5,208,000	$	four,811,000
Lease liability-electric current portion		318,000		311,000
Total electric current liabilities		5,526,000		5,122,000

Lease liability-long-term		533,000		614,000
Warrant derivative liability		4,474,000		5,805,000
Total liabilities		10,533,000		xi,541,000

Commitments and contingencies (Note five)

Stockholders' equity
Preferred Stock, par value $0.0001; x,000,000 shares authorized; none issued		—		—
Common Stock, par value $0.0001; 300,000,000 shares authorized; shares issued and outstanding - 227,186,867 equally of March 31, 2022 and 227,325,381 as of December 31, 2021		23,000		23,000
Additional paid-in capital		245,468,000		244,863,000
Accumulated deficit		(223,238,000)		(217,602,000)
Total stockholders' equity		22,253,000		27,284,000

Total liabilities and stockholders' equity	$	32,786,000	$	38,825,000

AMPIO PHARMACEUTICALS, INC. Condensed Statements of Operations (unaudited)

	3 Months Ended March 31,
	2022		2021

Operating expenses
Enquiry and development	$	3,687,000	$	ii,296,000
General and administrative		3,283,000		1,523,000
Total operating expenses		half-dozen,970,000		3,819,000

Other income
Interest income		3,000		i,000
Derivative proceeds		1,331,000		151,000
Total other income		1,334,000		152,000

Internet loss	$	(5,636,000)	$	(3,667,000)

Internet loss per common share:
Basic	$	(0.02)	$	(0.02)
Diluted	$	(0.03)	$	(0.02)

Weighted average number of common shares outstanding:
Bones		226,083,328		195,387,047
Diluted		226,110,693		200,752,267

About Ampio Pharmaceuticals, Inc.

Ampio Pharmaceuticals, Inc. is a biopharmaceutical company primarily focused on the advancement of immunology-based therapies for the potential treatment of multiple inflammatory atmospheric condition (e.grand., osteoarthritis of the knee (OAK) and other articular joints). Ampio's lead drug is Ampion™.

Forward-Looking Statements

This printing release contains forrard-looking statements that are made pursuant to the condom harbor provisions of the Private Securities Litigation Reform Human action of 1995. Any statements contained in this press release that are not statements of historical fact may be accounted to be forwards-looking statements. Without limiting the foregoing, words such equally "may," "will," "await," "believe," "anticipate," or "estimate" or comparable terminology are intended to identify forward-looking statements. Forrard-looking statements are subject to diverse risks and uncertainties that could crusade bodily results to differ materially from those expressed or implied in such statements.

Such forward-looking statements include, for example, statements near Ampio's projection of operating expenses, capital expenditures and future liquidity. The risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forrard-looking statements include the take a chance factors described in the Ampio'due south Annual Report on Form 10-K for the year ended December 31, 2021, and other factors set along in Ampio's filings with the Securities and Exchange Commission, including Ampio's Quarterly Report on Form x-Q for the quarter ended March 31, 2022.

The forward-looking statements in this printing release speak simply equally of the appointment of this press release. Except as required past law, Ampio assumes no obligation to update or revise these forward-looking statements for any reason, except as required past constabulary.

Investor and Media Contacts:

Tony Russo or Nic Johnson
Russo Partners
[email protected]
[email protected]
[email protected]

SOURCE Ampio Pharmaceuticals, Inc.