Seeking Alpha

Ampio up in early trading on average volume

  • Shares of development stage Ampio Pharmaceuticals (AMPE +22.5%) are up in apparent response to Citi's initiation of coverage with a Buy rating. There is no particular news that justifies the move other that the firm's 10-Q filing yesterday. The company announced on April 21 that its wholly-owned subsidiary, Vyrix Pharmaceuticals, filed an S-1 to prepare for an IPO.
  • In Q1 Ampio burned $8.5M. It has cash and equivalents of $78.2M.
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Comments (5)
  • Chris Hofmann
    , contributor
    Comments (755) | Send Message
     
    It probably helps that Citi's buy rating had a $21 PT
    8 May 2014, 10:12 AM Reply Like
  • Stan Ackman
    , contributor
    Comments (1104) | Send Message
     
    Anyone bought at above $7 has tremendous risks. The $21 PT is for window shopping.
    8 May 2014, 10:17 AM Reply Like
  • olinickr
    , contributor
    Comments (10) | Send Message
     
    The use of the word "burn" implies a negative use of the capital. The company is making great strides and will not need cash until 2016.
    8 May 2014, 10:56 AM Reply Like
  • Nuz4
    , contributor
    Comments (2) | Send Message
     
    Agree on the cash and Volume is 4x the average is it not?
    8 May 2014, 02:49 PM Reply Like
  • BioResearch Alert
    , contributor
    Comments (7) | Send Message
     
    The Citicorp report has not been seen by very many yet, but it is so compelling that it will wind up on the desk of every fund manager and investor and is certain to drive prices much higher every day for quite a while.

     

    The report is very thorough and well done and finds AMPE shares EXTREMELY undervalued, but says that won't last for long because Ampio is quickly being discovered now.
    8 May 2014, 09:26 PM Reply Like
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