Ampio shares rise on bullish online report

Stock Market Predictions

(Global Markets) - Shares of Ampio Pharmaceuticals Inc rose as much as 39 percent on Friday after an investment website said it expects Ampio to be the next "blockbuster" stock.

With 3 blockbuster drugs, Ampio is all primed up for loads of news about clinical trials, the FDA and potential partners, Seeking Alpha said in a report published on Friday.

Ampio's drug to treat premature ejaculation is in a late-stage study, while its diabetes related eye disease and anti-inflammation drugs have completed mid-stage trials.

The website said Ampio's stock could follow hot stocks such as Arena Pharmaceuticals, Vertex Pharmaceuticals and Onyx Pharmaceuticals.

The company's shares were up 32 percent at $5.20, making them one of the top percentage gainers on Friday on the Nasdaq. They touched a high of $5.49 earlier in the day.

(Reporting by Prateek Kumar in Bangalore; Editing by Roshni Menon)