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Amphastar Pharmaceuticals, Inc. increased the size of its Board of Directors from ten to eleven members and appointed Anthony Pierce as a Class III director, effective July 9, 2026. He will serve until the company’s 2028 annual meeting of stockholders, or earlier if he departs.
The Board determined that Mr. Pierce is independent under Nasdaq listing standards and noted there are no related-party arrangements or transactions requiring disclosure. His compensation includes an annual cash retainer of $55,000 (pro-rated for his start date) and an initial equity grant split 50% restricted stock units and 50% stock options with an aggregate grant date fair value of $300,000, vesting on the first anniversary of grant, subject to continued service. He will also enter into the company’s standard indemnification agreement.
Amphastar Pharmaceuticals reported that its subsidiary, International Medication Systems, received an FDA Warning Letter on July 2, 2026 for its drug manufacturing facility in South El Monte, California. The letter follows a December 2025 FDA inspection and cites violations of current Good Manufacturing Practice regulations.
The observations relate to investigation procedures, environmental monitoring and handling procedures, and manufacturing equipment. IMS has not been directed to stop or restrict product from the facility or conduct a further recall, and it continues to manufacture while implementing a remediation plan and risk assessment requested by the FDA.
The company is evaluating the impact on its operations and acknowledges there is no assurance the FDA will be satisfied with its response. Until the deficiencies are resolved to the FDA’s satisfaction, additional regulatory or legal action may be taken without further notice.
Amphastar Pharmaceuticals director Richard K. Prins reported new equity awards and prior gifting activity. On June 1, 2026 he received 8,143 shares of Common Stock in the form of restricted stock units, all vesting on June 1, 2027, and a stock option for 17,365 shares at an exercise price of $18.42 per share that also vests on June 1, 2027 and expires on June 1, 2036. A previously reported bona fide gift on August 19, 2024 transferred 1,500 shares of Common Stock. Following the latest transactions, he beneficially owned 37,598 shares as of June 1, 2026 after an account reconciliation noted in the filing.
Amphastar Pharmaceuticals, Inc. director Lee Howard reported routine equity compensation and related tax withholding. On June 1, 2026, he received 8,143 shares of Common Stock in the form of restricted stock units that will fully vest on June 1, 2027, and was granted stock options for 17,365 shares at an exercise price of $18.42 per share, expiring on June 1, 2036. On June 2, 2026, 769 shares of Common Stock were withheld to cover his tax liability from RSU vesting. After these transactions, he directly holds 159,350 shares of Common Stock.
Amphastar Pharmaceuticals director Michael A. Zasloff received new equity awards in the form of stock and options. On June 1, 2026, he was granted 8,143 shares of common stock represented by restricted stock units that vest on June 1, 2027. He also received a stock option for 17,365 shares of common stock at an exercise price of $18.42 per share, expiring on June 1, 2036, with all option shares vesting on June 1, 2027. Following these grants, he directly owns 37,667 shares of Amphastar common stock. These awards represent compensation rather than open-market purchases or sales.
Amphastar Pharmaceuticals director Diane G. Gerst received equity compensation consisting of 8,143 shares of common stock in the form of restricted stock units and a stock option for 17,365 shares at an exercise price of $18.42 per share. All RSUs and option shares vest on June 1, 2027. Following these awards, she directly holds 31,899 shares of common stock.
Amphastar Pharmaceuticals director David Russell Gaugh received new equity awards as part of his compensation. He was granted 8,143 shares of Common Stock in the form of restricted stock units, which fully vest on June 1, 2027. Following this grant, he directly holds 14,447 Common Stock shares. He was also awarded stock options covering 17,365 shares of Common Stock at an exercise price of $18.42 per share. All of these options vest on June 1, 2027 and expire on June 1, 2036, giving him the right to buy shares at that fixed price if the company performs well over time.
Amphastar Pharmaceuticals director Deflin Gayle received new equity compensation awards. On June 1, 2026, Gayle acquired 8,143 shares of Common Stock through restricted stock units that vest on June 1, 2027. Gayle also received stock options for 17,365 shares at an exercise price of $18.42 per share, with all option shares vesting on June 1, 2027 and expiring on June 1, 2036. Following the stock grant, Gayle directly holds 19,057 shares of Common Stock, in addition to the newly granted options. These are compensation-related awards rather than open-market purchases or sales.
Amphastar Pharmaceuticals, Inc. reported results from its annual stockholder meeting. Stockholders elected three directors — David Gaugh, William J. Peters, and Jacob Liawatidewi — to serve until the 2029 annual meeting. They also ratified Ernst & Young LLP as independent auditor for the fiscal year ending December 31, 2026.
Stockholders approved, on a non-binding basis, the compensation of the company’s named executive officers. In a separate advisory vote, stockholders indicated a preference for holding say‑on‑pay votes every year, and the board decided to schedule future advisory votes on executive compensation annually, with the next required frequency vote to occur no later than the 2032 annual meeting.
Amphastar Pharmaceuticals reported sharply lower profitability for the quarter ended March 31, 2026 despite essentially flat sales. Net revenues were $171.2 million versus $170.5 million a year earlier, but net income fell to $6.4 million from $25.3 million as cost of revenues and operating expenses increased.
Gross profit declined to $70.3 million from $85.3 million, while research and development, general and administrative, and other costs all rose. Diluted earnings per share were $0.14 compared with $0.51. Operating cash flow improved to $47.8 million, and the company ended the quarter with $171.2 million in cash, cash equivalents, and restricted cash and total assets of $1.65 billion, including significant BAQSIMI® product rights.