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Ampio Pharma says eye drug trial can go ahead

GREENWOOD VILLAGE, Colo. (AP) -- Biotech drugmaker Ampio Pharmaceuticals Inc. said Tuesday the Food and Drug Administration accepted its application to start testing the eye drug Optina.

Optina is designed to treat diabetic macular edema, which can cause blurred vision and blindness. Ampio said it plans to start clinical studies of the drug in the first quarter of 2013. Based on earlier FDA decisions, Optina could be approved based on the results of a single successful clinical trial.

Ampio is also studying an inflammation drug called Ampion and premature ejaculation treatments called Zertane and Zertane-ED. The company completed its initial public offering in July, and it does not have any approved drugs.

Shares of Ampio rose 12 cents, or 2.5 percent, to $5.01 in morning trading.