In continuing with the swift progress that Ampio Pharmaceuticals (AMPE) has been making on all pipeline fronts over the past months, the company announced this week that it has reached an agreement with the Therapeutic Goods Administration, Canberra, Australia, on a plan of drug manufacture and quality control for Zertane.
Zertane is a treatment for premature ejaculation (PE) for which Ampio is seeking regional partners to commercialize. An agreement was announced last year to bring the product to market in South Korea, and a similar commercialization plan for Brazil was announced last month.
In gaining a foothold in the Australian market, Ampio should then follow suit and seek a regional partner to compete with Johnson and Johnson's (JNJ) Priligy, which is already approved in Australia, according to Monday's press release.
Ampio's share price spiked by ten percent on the news with volume trading within norms.
As noted in the VFC's Stock House Weekly Stock Watch this week, AMPE had been trading towards the lower end of its recent trading range and might have been due for a little bump.
Also of note, Ampio has provided updates on its other two flagship products over the past few months, too.
Positive trial news for Optina in the treatment of Diabetic Macular Edema (DME) sent shares quickly to the four dollar mark last month, while the most recent update on Ampion, which has shown to be successful in multiple trials as an anti-inflammatory, also provided encouragement for the potential of the pipeline.
Multiple pipeline catalysts are still pending for later this year as the company starts to set its sights on the FDA.
Disclosure: Long AMPE.