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Ampio Pharmaceuticals, Inc. (AMPE) recently provided a stockholder update detailing operational progress and financial strategy. They are developing OA-20X, a new series of formulations based on past research into osteoarthritis (OA) treatments. The company conducted tests using validated rodent models showing promising results in cartilage protection and pain reduction. These proprietary formulations, distinct from earlier products, are set for clinical development in Q3 2023. Additionally, Ampio has streamlined operations to enhance cost-effectiveness, reducing staff and subleasing facilities, expected to save approximately $4.6 million annually. While optimism surrounds the OA-20X program, the company cautioned about financial uncertainties and ongoing legal proceedings that could impact its future.
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