Ampliphi Biosciences Corp (OTCMKTS:APHB) a firm active into the industry of formulation of bacteriophage-based antibacterial therapies provided corporate updates. The company said that it completed private placement of common stock worth $13 million from new and existing investors, including strategic partner Intrexon Corp (NYSE:XON). It appointed industry expert M. Scott Salka as the new CEO of the company.
Ampliphi Biosciences was granted European patent for its bacteriophage preparations to be administered with antibiotics for the cure of biofilm related infections that are caused by the bacterium ‘Pseudomonas aeruginosa.’ The company advanced plans to release nebulizer qualification trial results from the AmpliPhage-001 plan for curing Pseudomonas aeruginosa in patients suffering from mild to moderate cystic fibrosis.
It even moved forward with its plan to start clinical studies at the Walter Reed Clinical Trial Center in 2H2015 for AmpliPhage-002 for curing multi-drug resistant strains linked to Staphylococcus aureus. The company prime focus remains on development of AmpliPhage-004 and AmpliPhage-001. Ampliphi confirmed that it remains on track for listing on major national stock exchange.
The expert view
Jeremy Curnock Cook, the Chairman of Ampliphi Biosciences Corp (OTCMKTS:APHB), said that analyzing the advancements the company made to date in this year suggests reinforcement of company’s foundation. The company made several changes in its executive leadership team and made sustainable positive progress with planned clinical study programs. It even secured critical intellectual assets that would safeguard company’s platform technologies. The company is well-positioned in the industry to move forward with its plans to establish itself as the pioneering phage company in the world. Cook added that he is thrilled with the exciting prospects for the coming quarters.
In last trading session, the stock price of APHB declined more than 6% to close the trading session at $0.187. The decline came at a share volume of 2.69 million compared to average share volume of 524,544.