Benzinga | Apr 27, 2021 10:39AM EDT

Ampio Pharma's Inhaled COVID-19 Treatment Shows 78% Improvement In All-Cause Mortality

* Ampio Pharmaceuticals Inc (NYSE: AMPE) revealed positive results from its AP-014 Phase 1 trial utilizing inhaled Ampion in treating respiratory distress in COVID-19 patients.

* The study met its primary endpoint and showed an even greater improvement in all-cause mortality over patients treated using Standard of Care (SOC) than initially reported.

* Mortality in the SOC group was 24%, while that in the group treated with SOC and Ampion was only 5%,

* Preliminary results reported in March showed a lower all-cause mortality rate of 8% in the Ampion group, compared to 21% in the standard of care alone.

* The average hospital length of stay was four days less for the Ampion group than the patients receiving SOC.

* Separately, the Phase 1 study using Ampion to address the respiratory symptoms experienced by COVID-19 "Long Haulers" is awaiting Investigational Review Board approval and is expected to commence enrollment shortly.

* Ampio also received a positive response from the FDA on its plans for its Phase 3 trial utilizing intra-articular injection of Ampion for treating osteoarthritis of the knee.

* The company will provide updates on its plans for this trial at its upcoming May 5th earnings call.

* Price Action: AMPE shares are down 3.2% at $1.93 in market trading hours on the last check Tuesday.