NEW YORK, NY / ACCESSWIRE / November 24, 2017 / Shares of Ampio blew up on Wednesday after encouraging data was published in a peer review journal about its Ampion serum that is being developed to treat the pain due to osteoarthritis of the knee. Shares of Agenus Inc. also closed higher despite any news, but it was a week ago that the company announced the receipt of a $4 million payment from Merck.
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Ampio Pharmaceuticals, Inc.
Ampio Pharmaceuticals, Inc. shares skyrocketed on Wednesday, closing the day up nearly 28% on colossal volume. The stock traded nearly 7 million shares compared to an average of just under 1 million shares. Ampio also hit a new high of $1.93 yesterday after the company announced that a manuscript entitled: "LMWF-5A for the Treatment of Severe Osteoarthritis of the Knee: Integrated Analysis of Safety and Efficacy" has been published as a feature article in a peer-reviewed journal called Orthopedics. The article features Ampion (LMWF-5A), a low molecular weight fraction of human serum albumin (HSA) currently being developed for the treatment of pain due to osteoarthritis of the knee. It describes the efficacy and safety of the treatment and the data from three single injection randomized controlled studies of severe osteoarthritis of the knee. According to the data, the treatment demonstrated a meaningful response.
Agenus Inc. shares closed up 7.20% on Wednesday with a little over 1.6 million shares traded. There was no remarkable news from the company but a week ago it was announced that the immuno-oncology company received a $4 million payment from Merck for the advancement of an undisclosed antibody under a license and research collaboration agreement. As part of the agreement, Merck is responsible for all future product development expenses for the selected antibody. CEO of Agenus, Garo Armen, Ph.D. commented, "We are very pleased with the progress of our collaboration with Merck and the advancement of this antibody towards the clinic. Our integrated antibody discovery platforms and expertise culminates in discovering antibodies for a broad range of targets, including challenging ones, as was the case with this particular candidate."
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