How low can these Colorado biotech's shares go?

Last week, shares in Ampio Pharmaceuticals Inc. were trading at more than $3. Today, they're trading around 37 cents. It hasn't been a pretty freefall for the Douglas County biotech's shares (NYSE: AMPE). The freefall started yesterday, when Ampio announced that the U.S. Food and Drug Administration wanted more testing on Ampio's knee osteoarthritis drug Ampion. A current trial that would support the safety and efficacy of Ampion "does not appear to provide sufficient evidence of effectiveness,"…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news