AMPIO to pay out $12.8 million in next eleven months- by Dec 2013 for two drug tests
This is from latest filing- that is why the drop.
On January 21, 2013, Ampio Pharmaceuticals, Inc. (“Ampio” or the “Company”) entered into a Master Service Agreement and Scope of Work (the “Ampion Agreement”) with a clinical research organization (the “Ampion CRO”). Pursuant to the Ampion Agreement, the Ampion CRO will provide study management services in connection with the Company’s clinical trial of Ampion TM for the treatment of osteoarthritis of the knee. The consideration payable by Ampio to the Ampion CRO in connection with these services totals approximately $6.8 million, which is expected to be paid over the course of the next eleven months, subject to the achievement by the Ampion CRO of specified milestones. The Ampion Agreement is effective as of January 21, 2013 and continues until the Ampion Agreement is terminated in accordance with its terms. Either party may terminate the Ampion Agreement with or without cause upon 30 days written notice.
On January 21, 2013, Ampio entered into a Master Services Agreement and Scope of Work (the “Optina Agreement”) with a clinical research organization (the “Optina CRO”). Pursuant to the Optina Agreement, the Optina CRO will provide clinical trial services in connection with the Company’s clinical trial of Optina TM for the treatment of diabetic macular edema. The consideration payable by Ampio to the Optina CRO in connection with these services totals approximately $6.0 million which is expected to be paid over the course of the next eleven months, based on specified milestones. The Optina Agreement is effective as of January 21, 2013 and continues until completion of the services, unless earlier terminated in accordance with the Optina Agreement.