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16.05.2022 16:10
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PR Newswire
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Ampio Pharmaceuticals Reports First-Quarter Financial Results
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PR Newswire
ENGLEWOOD, Colo., May 16, 2022
ENGLEWOOD, Colo., May 16, 2022 /PRNewswire/ -- Ampio Pharmaceuticals, Inc. (NYSE American: AMPE), a biopharmaceutical company focused on the advancement of immunomodulatory therapies for the treatment of pain resulting from osteoarthritis in the knee and potentially other articular joints, today reported financial results for the first quarter ended March 31, 2022.
First Quarter Financial Results
- Net Loss: Net loss was $5.6 million for the first quarter of 2022 compared to net loss of $3.7 million for the first quarter of 2021. Further details on these variances are below.
- R&D Expenses: Research and development expenses were $3.7 million for the first quarter of 2022 compared to $2.3 million for the first quarter of 2021. The primary drivers of the increase were increases in (i) clinical trial and sponsored research expenses and (ii) salaries and professional fees.
- G&A Expenses: General and administrative expenses were $3.3 million for the first quarter of 2022 compared to $1.5 million for the first quarter of 2021. The primary drivers of the increase were increases in (i) salaries and professional fees and (ii) non-cash stock-based compensation expense.
- Cash Position / Liquidity: Cash and cash equivalents on March 31, 2022, totaled $28.8 million, compared to $33.9 million as of December 31, 2021. The decrease of $5.1 million is primarily attributable to cash required to fund business operations. Based on our current cash position and projection of operating expenses and capital expenditures, we believe that we will have sufficient liquidity to fund operations into the second half of 2023.
Further details on First Quarter 2022 Financials are included below:
| AMPIO PHARMACEUTICALS, INC. | ||||||
| | | | | | | |
| | | March 31, | | December 31, | ||
| | | 2022 | | 2021 | ||
| | | | | | | |
| Assets | | | | | | |
| Current assets | | | | | | |
| Cash and cash equivalents | | $ | 28,837,000 | | $ | 33,892,000 |
| Prepaid expenses and other | | | 1,070,000 | | | 1,740,000 |
| Total current assets | | | 29,907,000 | | | 35,632,000 |
| | | | | | | |
| Fixed assets, net | | | 2,302,000 | | | 2,564,000 |
| Right-of-use asset, net | | | 577,000 | | | 629,000 |
| Total assets | | $ | 32,786,000 | | $ | 38,825,000 |
| | | | | | | |
| Liabilities and Stockholders' Equity | | | | | | |
| Current liabilities | | | | | | |
| Accounts payable and accrued expenses | | $ | 5,208,000 | | $ | 4,811,000 |
| Lease liability-current portion | | | 318,000 | | | 311,000 |
| Total current liabilities | | | 5,526,000 | | | 5,122,000 |
| | | | | | | |
| Lease liability-long-term | | | 533,000 | | | 614,000 |
| Warrant derivative liability | | | 4,474,000 | | | 5,805,000 |
| Total liabilities | | | 10,533,000 | | | 11,541,000 |
| | | | | | | |
| Commitments and contingencies (Note 5) | | | | | | |
| | | | | | | |
| Stockholders' equity | | | | | | |
| Preferred Stock, par value $0.0001; 10,000,000 shares authorized; none issued | | | — | | | — |
| Common Stock, par value $0.0001; 300,000,000 shares authorized; shares issued and outstanding - 227,186,867 as of March 31, 2022 and 227,325,381 as of December 31, 2021 | | | 23,000 | | | 23,000 |
| Additional paid-in capital | | | 245,468,000 | | | 244,863,000 |
| Accumulated deficit | | | (223,238,000) | | | (217,602,000) |
| Total stockholders' equity | | | 22,253,000 | | | 27,284,000 |
| | | | | | | |
| Total liabilities and stockholders' equity | | $ | 32,786,000 | | $ | 38,825,000 |
| AMPIO PHARMACEUTICALS, INC. | ||||||
| | | | | | | |
| | | Three Months Ended March 31, | ||||
| | | 2022 | | 2021 | ||
| | | | | | | |
| Operating expenses | | | | | | |
| Research and development | | $ | 3,687,000 | | $ | 2,296,000 |
| General and administrative | | | 3,283,000 | | | 1,523,000 |
| Total operating expenses | | | 6,970,000 | | | 3,819,000 |
| | | | | | | |
| Other income | | | | | | |
| Interest income | | | 3,000 | | | 1,000 Werbung Mehr Nachrichten zur Ampio Pharmaceuticals Aktie kostenlos abonnieren
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