On this news, the Company's share price fell $0.04, or 10%, to close at $0.18 per share on May 18, 2022. The Company also revealed "that certain Ampio personnel, including a former executive officer and certain former directors, facilitated the provision of Ampion for unauthorized use." Specifically, Defendants: (1) inflated the Company's true ability to successfully file a Biologics License Application for Ampion; (2) inflated the results of the AP-013 study and the timing of unblinding the data from the AP-013 study; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.