Ampio Pharmaceuticals, Inc. (AMPE): Business Model Canvas [Dec-2025 Updated]

Honestly, looking at the Business Model Canvas for Ampio Pharmaceuticals, Inc. right now isn't about finding the next blockbuster drug; it's about managing a controlled corporate exit as of late 2025. After the August 2024 Plan of Dissolution, the entire structure pivots to minimizing overhead-like realizing about $4.6 million in annual savings from facility subleases-and methodically settling liabilities, most notably the $3 million shareholder class action. You need to see the details below to understand how the remaining cash and IP portfolio are being marshaled to maximize the final distribution for former shareholders, because this canvas is a masterclass in winding down, not scaling up.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Key Partnerships

You're looking at the key relationships Ampio Pharmaceuticals, Inc. maintained, especially as the company moved through its dissolution process following stockholder approval of the Plan of Dissolution on August 15, 2024. Since Ampio is dissolved as of August 16, 2024, these partnerships are primarily focused on winding down administrative, legal, and financial obligations rather than active commercial operations.

The structure of these final, critical partnerships reflects the company's focus on resolving past liabilities and managing shareholder interests under the court-supervised wind-down.

The key partners involved in this final phase include:

• Legal counsel for ongoing securities litigation and settlement administration.
• Transfer Agent (Equiniti) for shareholder communication and potential distribution.
• Landlords/Lessees for subleasing facilities to realize annual savings of about $4.6 million.
• Former Contract Research Organizations (CROs) for winding down clinical trial obligations.

The securities litigation settlement, which was preliminarily approved in September 2024, is a major focus for these legal partnerships. The settlement fund was established at $3,000,000 plus any earned interest. The Lead Counsel for the Lead Plaintiffs intended to ask the Court for 28% of this Settlement Fund, plus up to $75,000 in reimbursement for expenses incurred in prosecuting the lawsuit. The estimated average recovery for eligible class members, after deducting attorneys' fees, expenses, and administrative costs, was projected to be $0.015 per share. The final hearing on this settlement was scheduled for February 19, 2025.

Here's a quick look at the financial components tied to these winding-down activities:

The facility management strategy directly impacts the remaining cash available for distribution. The goal was to realize annual savings of approximately $4.6 million through subleasing arrangements, which is a critical cash conservation measure given the company's dissolution status and the need to satisfy all outstanding legal obligations before any potential distribution to stockholders. Honestly, managing these fixed costs down to near zero is essential when you're in a liquidation scenario.

The relationship with Equiniti, the transfer agent, is vital for the final step: communicating with stockholders and administering any potential distribution of residual cash following the settlement of all legal matters, including the securities litigation. As of late 2024, Ampio stated its intent was to distribute any cash remaining after settling legal obligations, subject to Delaware Chancery Court approval. What this estimate hides is the final net cash balance after all wind-down costs are paid.

For former Contract Research Organizations (CROs), the partnership focus shifted entirely to closure. This involved finalizing data reconciliation, terminating ongoing service agreements, and settling any final invoices related to the terminated OA-201 program. While specific 2025 expense figures for these wind-downs aren't public now that reporting has ceased, the overall cash conservation plan was designed to cover these final operational settlements.

You should check the final court filings from early 2025 for the exact amounts paid out to the Lead Plaintiffs' counsel versus the final administrative costs handled by the Claims Administrator, Simpluris Inc., to get the precise final cash position. Finance: draft 13-week cash view by Friday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Key Activities

You're looking at the final, critical operational steps for Ampio Pharmaceuticals, Inc. as it winds down under the August 2024 Plan of Dissolution. The key activities right now are all about final financial closure and asset disposition, not R&D.

Managing cash conservation and minimizing administrative overhead

The focus here is on extending the runway to cover final obligations, especially given the company's historical cash burn and deficit position. The company had an accumulated deficit of $240.5 million as of September 30, 2023. While cash on hand was $4.08 Million USD as of December 2023, the increase/decrease in cash for the quarter ending 2023-12-31 was $-8.56M. The company's Cash Ratio stood at 1.72 as of the most recent reporting period, which suggests strong short-term liquidity relative to current liabilities, but this is within the context of a planned dissolution. The stock price as of October 22, 2025, was $0.003100 USD.

Key actions related to overhead reduction stem from the March 2024 decision to pursue delisting and deregistration, which was intended to reduce the significant operating expense related to Exchange Act and NYSE American reporting requirements.

• Discontinued development of Ampion, withdrawing 3 Investigational New Drug (IND) applications.
• The company previously focused on reducing personnel expense corresponding to the conclusion of Ampion development efforts.

Settling the $3 million shareholder class action lawsuit

This activity was a major focus for early 2025, aimed at resolving litigation to finalize the wind-down process. The settlement fund agreed upon was $3,000,000. The structure of the payout involved specific allocations:

The deadline for investors to submit claims was January 13, 2025, with the Final Approval Hearing set for February 19, 2025. This covered stock purchased between December 29, 2020, and August 2, 2022.

Fulfilling statutory requirements of the August 2024 Plan of Dissolution

The key activities here involve compliance with the formal plan adopted in August 2024, which mandates the orderly wind down of operations. This includes fulfilling all necessary filings to exit reporting requirements under the Exchange Act, a process initiated around April 2024 with the intent to file Form 15 to suspend reporting obligations.

Liquidating remaining corporate assets, including intellectual property

This activity is the final stage to generate cash for remaining obligations and potential stockholder distributions, though it is noted that following dissolution, it is unlikely cash would be available for stockholder distributions. The company relies on patents and proprietary rights for its intellectual property.

• The company discontinued development of Ampion, concluding all development efforts on that platform.
• The company's ability to pay obligations upon liquidation was unclear as of the March 27, 2023, 10-K filing, given its liquidity position and pending legal matters.

Finance: finalize Q3 2025 asset valuation report by next Tuesday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Key Resources

You're looking at the core assets Ampio Pharmaceuticals, Inc. (AMPE) has on hand as it navigates its wind-down process as of late 2025. Honestly, the key resources now are less about growth and more about managing final legal and administrative obligations.

Remaining cash and cash equivalents for legal and administrative costs are definitely thin. The last reported figure for Cash and Short Term Investments, as of the fiscal year end December 31st, 2023, was $4.09 million USD. By November 2025, the Enterprise Value was reported as -$4.08 million, which suggests the accessible cash balance is likely significantly depleted after covering ongoing legal proceedings and administrative wind-down expenses since that 2023 filing.

Minimal remaining personnel focused on finance and corporate governance are retained primarily to execute the orderly wind down of operations and manage the cash conservation plan, as outlined in early 2024 communications. Specific headcount numbers for these functions in late 2025 aren't public, but the focus is on essential oversight for closure, not ongoing development.

The intellectual property portfolio represents the most significant potential residual value, though its worth is heavily impacted by recent clinical outcomes. The company's strategy hinges on the potential sale or licensing of these assets, or their use in resolving outstanding matters. Here's a snapshot of the key drug candidates:

Corporate records necessary for legal and regulatory closure are a critical, non-financial resource. These include all historical drug development data, SEC filings, and internal governance documents required to satisfy ongoing legal proceedings and the final deregistration steps the company planned to initiate around April 2024. You need these records to properly finalize all obligations.

The structure supporting these resources involves the remaining Board committees, such as the Audit Committee, which oversees the financial reporting and asset disposition during this final phase. The company's public reporting has been scaled back following the voluntary delisting, meaning transparency on these internal resources is now limited to what is required for final regulatory wind-down.

• Last reported total current assets (Dec 31, 2023): $5.74 million USD.
• Last reported total liabilities (Dec 31, 2023): $2.38 million USD.
• The company's stated goal is to ensure sufficient cash to fund an orderly wind down.
• The intellectual property is the primary focus for maximizing any remaining stockholder value.

Finance: draft 13-week cash view by Friday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Value Propositions

You're looking at the Value Propositions for Ampio Pharmaceuticals, Inc. (AMPE) as of late 2025, which, frankly, centers less on product delivery and more on financial and legal closure, given the company's strategic shift.

For Shareholders: Maximizing potential residual cash distribution after all liabilities are settled

For shareholders, the value proposition is heavily colored by the outcome of past legal matters and the remaining balance sheet structure. Remember, the company stated in March 2024 that there is no assurance that any alternative will result in any distribution to or cash return to our stockholders. Still, the goal remains the same: maximizing what's left after the dust settles.

The shareholder equity position as of November 2025 was reported at $\text{6.44}$ million USD. This figure sits against the total liabilities, which were $\text{7.56}$ million USD in the same period. This suggests a deficit between total liabilities and total equity on paper, which complicates any residual distribution scenario.

A concrete, past financial event impacting this group was the $\text{\$3M}$ Shareholder Settlement, where the claim deadline was set for January 13, 2025. For those who filed, the estimated average recovery, assuming a $\text{25\%}$ participation rate, was around $\text{\$0.08}$ per share. The company previously noted in its 2022 filings that if it ceased operations and liquidated assets, it was unlikely cash would be available for distributions to stockholders.

Here's a quick look at the key balance sheet components as of the latest available data:

For Creditors: Orderly and legal resolution of all outstanding financial obligations

For creditors, the value proposition is tied directly to the company's ability to service its obligations, particularly the current ones, through its available assets. The focus here is on the Total Liabilities figure of $\text{7.56}$ million USD as of November 2025.

The immediate concern for creditors involves the current obligations, which stood at $\text{4.28}$ million USD in current liabilities in November 2025. This is the amount that needs to be addressed first in any wind-down or restructuring scenario.

The company has taken steps to conserve cash, including expected annual savings of approximately $\text{\$4.6}$ million from streamlining operations. This cash conservation effort directly supports the ability to meet financial obligations, which is the primary value for creditors.

The resolution process is framed by these key financial realities:

• Total Liabilities stood at $\text{7.56}$ million USD as of November 2025.
• Total Current Liabilities were $\text{4.28}$ million USD in November 2025.
• The company is focused on cash conservation measures.

For Regulators: Compliance with all final legal and dissolution reporting requirements

The value proposition for regulators, like the Securities and Exchange Commission (SEC), is the commitment to a clean, legal exit from active public reporting. Ampio Pharmaceuticals, Inc. announced in March 2024 its determination to voluntarily delist its common stock from the NYSE American and pursue SEC deregistration.

This action directly addresses the regulatory burden. The plan involved filing a Form 15 with the SEC around April 15, 2024, to suspend reporting obligations under the Exchange Act, which includes Forms 10-K, 10-Q, and 8-K.

The key compliance points are:

• Intent to file Form 15 to suspend reporting obligations.
• The process aims to terminate other SEC filing requirements upon the effectiveness of deregistration.
• The company is navigating the resolution of pending legal proceedings.

Finance: draft 13-week cash view by Friday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for Ampio Pharmaceuticals, Inc. as of late 2025, and honestly, it's less about selling a product and more about managing the final administrative wind-down following the dissolution approved in August 2024. The relationship with the former customer base-the stockholders-is now almost entirely transactional and governed by legal necessity.

Transactional communication with shareholders via the transfer agent

The primary point of contact for former stockholders regarding their equity is through the designated transfer agent, Equiniti. This communication is strictly transactional, dealing with the mechanics of any final cash distribution, which is contingent on settling all legal obligations and receiving approval from the Delaware Chancery Court. As of November 28, 2025, the remaining market capitalization stood at a nominal $5.9K, which gives you a sense of the scale of assets being managed through this final process. You should direct any specific questions about stockholdings to your broker or Equiniti, as the company itself is dissolved.

• Address stockholding questions to Equiniti.
• Cash distribution timing is subject to court approval.
• The company discontinued development of Ampion in February 2024.

Formal legal and administrative correspondence with legal counsel and courts

This is where the bulk of the remaining activity lies. The company's focus is on finalizing the settlement of past litigation. You'll recall the securities fraud class action and the consolidated derivative actions. A settlement in principle was reported in January 2024, and the Court preliminarily approved the securities settlement on September 24, 2024. This proposed settlement created a $3,000,000 Settlement Fund, plus interest, less fees and expenses. The deadline for stockholders to object or exclude themselves from this settlement was January 29, 2025. All ongoing administrative correspondence is channeled through legal counsel to the Delaware Chancery Court to secure the final order necessary to distribute any remaining cash after these obligations are met. The company voluntarily delisted and began SEC deregistration in April 2024, meaning formal SEC reporting relationships have been terminated.

Here's a quick look at the key administrative touchpoints governing the final phase:

Minimal, necessary contact with vendors for contract termination

With the dissolution effective August 16, 2024, and the discontinuation of the OA-201 program in February 2024, the need for ongoing vendor relationships has dropped to near zero. Any remaining contact is purely administrative, focused on finalizing any outstanding termination clauses or settling final invoices related to the wind-down of operations and the cessation of clinical development activities. The relationship is defined by closure, not ongoing service provision. The company's operational footprint is minimal, reflecting the focus on asset liquidation and legal finalization rather than business continuity.

• OA-201 program terminated in February 2024.
• Vendor contact limited to contract finalization.
• Reporting obligations under the Exchange Act terminated in April 2024.

Finance: draft 13-week cash view by Friday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Channels

You're looking at the channels Ampio Pharmaceuticals, Inc. uses to communicate with stakeholders and facilitate post-operational activities as of late 2025, given the company's wind-down status following the termination of its primary development program.

Corporate website for dissolution updates and official notices

The corporate website remains a primary, albeit static, channel for official notices related to the company's ongoing wind-down and the suspension of its SEC reporting obligations. Key contact points listed for inquiries include:

• Chief Executive Officer email: mmartino@ampiopharma.com
• General and Proxy inquiries email: info@ampiopharma.com

The company completed its voluntary delisting from the NYSE American on or about April 14, 2024, and intended to suspend its reporting obligations by filing Form 15 around April 15, 2024.

Legal administrators for processing shareholder settlement claims

The processing of past shareholder claims is managed through a court-appointed administrator, a critical channel for former investors seeking recovery from the settled litigation. The proposed settlement amount is $3,000,000.

Here are the key details regarding the settlement administration:

The distribution of the Net Settlement Fund to eligible Settlement Class Members is contingent upon the Court's final approval, which was sought in February 2025.

OTC Pink Market for common stock trading (following voluntary delisting in 2024)

Following the voluntary delisting from the NYSE American in 2024, Ampio Pharmaceuticals, Inc. common stock trades on the OTC Markets, specifically the OTC Pink Market, under the ticker AMPE. This is the current venue for any remaining public trading activity. The operational scale is minimal, reflecting the company's wind-down status.

Current trading metrics as of December 3, 2025, illustrate this:

The stock has shown extreme price compression, with the market cap at $5.9K as of November 28, 2025, compared to a historical high market cap of 34.12M since March 10, 2010. Trading volume is also thin, with an average daily volume of 1.32K shares.

Finance: review the cash position against the remaining administrative costs by next Tuesday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Customer Segments

You're looking at the final stages of a company's financial obligations, not a growth market. For Ampio Pharmaceuticals, Inc. (AMPE) as of late 2025, the customer segments are essentially the parties due a final distribution or settlement payment stemming from past corporate or legal actions, not product sales.

The primary focus is on resolving the securities litigation, which dictates the largest defined financial outflow. This means the 'customers' are claimants against the corporate estate or the legal entities managing that distribution.

Former shareholders of AMPE common stock seeking final distribution

This group consists of investors who acquired Ampio common stock during the defined class period and submitted a valid claim form by the deadline of January 13, 2025.

• Purchased or acquired AMPE common stock between December 29, 2020, and August 2, 2022.
• Eligible to share in the distribution of the Net Settlement Fund.
• The estimated average recovery per share, after deductions for fees and expenses, was approximately $0.015 per share.
• If 100% of eligible investors filed claims, the estimated average recovery was $0.02 per share before deductions.

Legal administrators and claimants involved in the $3 million settlement

This segment includes the court-appointed administrators and the legal counsel managing the distribution of the $3,000,000 Settlement Fund. Their role is to process claims and deduct their approved fees and expenses from the gross fund before the remainder goes to the shareholders.

Here's a quick math breakdown of the initial $3,000,000 fund allocation, which directly impacts the Net Settlement Fund available for claimants:

Remaining creditors and vendors with outstanding invoices

This segment represents entities that provided goods or services to Ampio Pharmaceuticals, Inc. and hold outstanding invoices. While the securities settlement is a defined financial event, the status and total amount owed to general creditors are not publicly detailed in the same manner as the class action settlement. Still, these parties are crucial stakeholders in any final corporate wind-down or asset distribution process post-litigation resolution.

• These parties are generally addressed through bankruptcy proceedings or direct liquidation agreements, which are separate from the securities class action.
• The company's financial reporting, such as the Amended Annual Report (10-k/a) filed as of November 25, 2025, would contain the latest figures on total liabilities, though specific vendor balances aren't itemized here.
• The priority of payment for these creditors relative to the settlement fund is a key financial consideration in the overall wind-down strategy.

Finance: draft 13-week cash view by Friday.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Cost Structure

The Cost Structure for Ampio Pharmaceuticals, Inc. as of late 2025 reflects a significant shift towards wind-down activities following the voluntary delisting and intent to terminate SEC reporting obligations announced in early 2024.

The primary cost drivers are concentrated in final legal obligations, minimal essential overhead, and the execution of the deregistration process. Here is a breakdown of the relevant financial figures:

You should note the following specific cost elements that feed into the overall structure:

• Legal and professional fees for dissolution and litigation defense, which historically included significant amounts for investigations and lawsuits, such as the \$4.4 million increase in professional fees noted in 2022 related to legal costs.
• Minimal remaining personnel costs for essential corporate functions, which were \$1,141,000 for salaries and benefits in 2021, increasing to \$1,485,000 in 2022 before expected reductions for wind-down.
• Facility and office sublease costs, targeting annual savings of \$4.6 million, which aligns with the prior facility lease expiring in September 2024.
• Administrative costs for SEC deregistration and final reporting, which follow the filing of Form 15 to suspend obligations like Forms 10-K, 10-Q, and 8-K.

The litigation component includes the one-time cost associated with the securities settlement:

• The proposed Settlement Fund was set at \$3,000,000 plus interest.
• Attorneys for Lead Plaintiffs sought 28% of the Settlement Fund plus up to \$75,000 for expenses.
• Lead Plaintiffs sought an award of up to \$5,000 for reasonable costs and expenses.

General and Administrative expenses in the last reported full year totaled \$11,466,000, a significant increase from the \$8,671,000 reported the prior year.

Ampio Pharmaceuticals, Inc. (AMPE) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Ampio Pharmaceuticals, Inc. (AMPE) as of late 2025. Given the company's status as a pre-revenue stage biopharmaceutical entity, the revenue profile is heavily weighted toward non-operating sources, which is typical for a firm focused on preclinical development like their AR-300 program. Honestly, the core business activity isn't selling drugs yet; it's about managing capital until a major clinical or strategic event occurs.

The structure of revenue streams reflects a company in a holding or transition phase, relying on its existing financial assets rather than product sales. To be fair, this is a common, albeit precarious, position for many development-stage biotechs.

Interest income generated from remaining cash reserves is a key component. Based on the latest available income statement data for the nine months ended September 30, 2023, the company recognized $0.1 million in interest income, which was partially offset by a derivative gain of $1.2 million for that period. This income is directly tied to the size and management of their liquid assets.

Potential proceeds from the sale or licensing of residual intellectual property (IP) remain a theoretical, high-impact stream. While Ampio Pharmaceuticals, Inc. has historically held a portfolio of patents, including those related to their discontinued Ampion product and the ongoing AR-300 development, there are no publicly reported figures for 2025 regarding any specific licensing agreements or asset sales. The IP strategy remains a potential lever for future capital events, but it hasn't translated into realized revenue for the current period.

The required figure for operating revenue from drug sales or development activities in 2025 is $0. This aligns with the company's historical reporting as a pre-revenue stage entity focused on preclinical work, as confirmed by their 2022 filings.

Here's a quick look at the latest concrete financial figures we have to anchor these revenue expectations:

The reliance on interest income is a function of the cash balance. You'll want to track the cash flow statement closely, as the burn rate dictates how long this interest income stream can persist without new financing or a strategic transaction. The cash balance as of September 30, 2023, was $5.375 million, adjusted for a 20-to-1 reverse stock split effected in September 2023.

The potential for IP monetization is a binary event-it's either zero or a significant, non-recurring cash infusion. The company's focus on AR-300 preclinical data is the primary driver for any future value realization, which could lead to licensing deals, but that isn't a predictable revenue stream right now.

For your planning, keep an eye on these key areas that feed into the revenue picture:

• Cash burn rate from operating expenses.
• Progress and data readouts for the AR-300 program.
• Any public statements regarding strategic alternatives, including potential M&A or asset divestitures.

Finance: draft 13-week cash view by Friday.