Ampio Provides Update on Clinical Trials for Ampion™ Treatment of COVID-19 Patients

Ampio Pharmaceuticals, Inc., a biopharmaceutical company focused on the advancement of immunology-based therapies for prevalent inflammatory conditions, announced an update on the launch of a new global clinical trial for intravenous ("IV") treatment of COVID-19 with Ampion and provided updates on its ongoing U.S. trial for inhalation treatment of COVID-19.

In vitro, Ampion interrupts the hyper-active immune response, known as the cytokine storm, which is directly associated with the more serious symptoms of COVID-19. The benefit of this effect from Ampion is currently being studied in multiple human clinical trials. The latest updates on these trials include:

• Initiation of a global clinical trial for IV treatment of COVID-19 patients, including in out-patient settings

• A global study has been initiated in Israel and the U.S. with the focus on patient safety and efficacy, as measured by improvement in the clinical course of the disease and related outcomes for patients with moderate to severe COVID-19. Ampion IV treatment targets systemic inflammation in the body of patients with moderate to severe COVID-19 symptoms. In addition, this study will assess the effect of Ampion IV treatment in both a hospital setting and as a therapy for out-patient care.

• U.S. based clinical trial underway for inhalation treatment of COVID-19 patients expands to new hospitals

• A Phase I clinical trial is ongoing, with the primary focus to evaluate the impact of inhaled Ampion treatment in patients with respiratory distress due to COVID-19. The trial is currently ongoing with no drug-related serious adverse events ("SAEs") reported to date. The rate of enrollment is expected to increase once requisite front-line workers receive the recently released COVID-19 vaccines. Additional hospitals are also being added to the inhalation study with the goal to conclude enrollment in January. Inhaled Ampion targets inflammation in the lung and is currently being investigated to determine whether its use will improve the clinical outcome for patients with COVID-19. Of note, there have been no drug-related SAEs to date in the inhaled clinical trial.

"While the vaccine will hopefully help many people avoid the more serious complications of COVID-19, the rollout of vaccines will take time and is unlikely to ever reach 100% of the public," said Michael Macaluso, Chairman and Chief Executive Officer of Ampio Pharmaceuticals. "We will no doubt continue to need treatments to provide the essential relief and improve outcomes for patients. We are especially excited to begin the testing of Ampion for COVID-19 in an outpatient setting."

About Ampio Pharmaceuticals

Ampio Pharmaceuticals, Inc. is a development stage biopharmaceutical company primarily focused on the development of Ampion, our product candidate, to treat prevalent inflammatory conditions for which there are limited treatment options. Ampio's lead drug, Ampion, is backed by an extensive patent portfolio with intellectual property protection extending through 2032, and will be eligible for 12-year FDA market exclusivity upon approval as a novel biologic under the biologics price competition and innovation act ("BPCIA").