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Here's Why Ampio Pharmaceuticals Stock Is Surging Today

TheMotleyFool

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Here's Why Ampio Pharmaceuticals Stock Is Surging TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of Ampio Pharmaceuticals (NYSEMKT: AMPE) are on the rise after the company released a positive second-quarter earnings report this morning. News of progress with the company's experimental COVID-19 treatment, Ampion, pushed the stock 17.5% higher as of 1:06 p.m. on Thursday.

This clinical-stage drugmaker didn't have any product revenue to report, but progress with an experimental COVID-19 treatment encouraged investors to drive the stock higher. After losing $3.6 million during the second quarter, Ampio Pharmaceuticals finished June with $20.5 million in cash on its balance sheet.

Image source: Getty Images.

Source Fool.com

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