Amphastar Pharmaceuticals, Inc.
AMPH evidence brief
What we can confirm
- BioSniper Score:
- 3.4 / 10
- Market Cap:
- $975.4M
- Next Catalyst:
- Patent_Expiry · Sep 23, 2039
What it means
What to watch
Prepared research question
What matters most for AMPH—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · AMPH
Amphastar Pharmaceuticals is a biopharmaceutical company focused on developing, manufacturing, and marketing injectable and inhalation products, including generics, biosimilars, and proprietary drugs, with a recent FDA approval for Ipratropium Bromide HFA and a milestone payment from BAQSIMI.
Key risk: Regulatory approval uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 2 clinical trials · 1 catalyst for Amphastar Pharmaceuticals, Inc..
Amphastar Pharmaceuticals is a biopharmaceutical company focused on developing, manufacturing, and marketing injectable and inhalation products, including generics, biosimilars, and proprietary drugs, with a recent FDA approval for Ipratropium Bromide HFA and a milestone payment from BAQSIMI.
- Cash & equivalents of $223.6M as of 2026-06-30 [sec]
- Total revenue of $183.9M for Q2 2026 [sec]
- Net income of $30.3M for Q2 2026 [sec]
- FDA approved Ipratropium Bromide HFA inhalation aerosol in February 2026, launched in April 2026 [sec_mda · as of 2026-08-06]
- First annual net sales milestone for BAQSIMI achieved in June 2026, triggering a $100.0M payment due in Q3 2026 [sec_mda · as of 2026-08-06]
What works
- Revenue exceeded Wall Street expectations in Q2 2026, with sales up 5.4% year on year to $183.9 million [news · published 2026-08-11]
- The company believes its cash reserves, operating cash flows, and borrowing availability will fund operations for at least the next 12 months [sec_mda · as of 2026-08-06]
- Amphastar is positioned to benefit from new launches, biosimilars, and a shift toward higher-value generics [news · published 2026-08-31]
What to weigh
- Working capital decreased $110.1 million to $367.8 million at June 30, 2026, compared to $477.9 million at December 31, 2025 [sec_mda · as of 2026-08-06]
- Research and development expenses increased due to higher clinical trials costs, primarily for insulin pipeline products [sec_mda · as of 2026-08-06]
- There is no assurance as to the receipt of regulatory approval for any product candidates or the timing of product launches, which could be lengthy or ultimately unsuccessful [sec_mda · as of 2026-08-06]
From the filings
Quoted directly from source documents.
FDA approval and launch of Ipratropium Bromide HFA
“In February 2026, the FDA approved our Ipratropium Bromide HFA inhalation aerosol, 17 mcg/actuation, which we launched in April 2026.”
SEC MD&A · August 6, 2026
BAQSIMI milestone payment
“In June 2026, we achieved the first annual net sales milestone for BAQSIMI ® , with sales of $175.0 million for the contract year, under the asset purchase agreement, or the Purchase Agreement, with Eli Lilly & Company, or Lilly. That milestone triggered a payment of $100.0 million which is due in the third quarter of 2026.”
SEC MD&A · August 6, 2026
Revenue beat expectations in Q2 2026
“Pharmaceutical company Amphastar Pharmaceuticals (NASDAQAMPH) reported revenue ahead of Wall Street’s expectations in Q2 CY2026, with sales up 5.4% year on year to $183.9 million.”
News · August 11, 2026
Working capital decrease
“Working capital decreased $110.1 million to $367.8 million at June 30, 2026, compared to $477.9 million at December 31, 2025.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2039-09-23 · Patent_Expiry · GLUCAGON — Patent_Expiry: NDA210134 — Patent expiry for GLUCAGON NDA210134, which may open market opportunities for generic competition.
Risks & what to watch (3)›
Key risks
- Regulatory approval uncertainty — No assurance of regulatory approval for product candidates; timelines could be lengthy or unsuccessful [sec_mda · as of 2026-08-06]
- Rising R&D expenses — R&D expenses increased due to clinical trials for insulin pipeline and inhalation candidates [sec_mda · as of 2026-08-06]
- Working capital decline — Working capital fell $110.1M to $367.8M at June 30, 2026 from $477.9M at Dec 31, 2025 [sec_mda · as of 2026-08-06]
What to watch
- BAQSIMI milestone payment of $100.0M due in Q3 2026 [sec_mda · as of 2026-08-06]
- Progress of biosimilar insulin aspart candidates in Phase 3 trials [catalyst]
- FDA action on one ANDA and one biosimilar insulin candidate currently on file [sec_mda · as of 2026-08-06]
- Patent expiry of GLUCAGON NDA210134 on 2039-09-23 [catalyst]
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
Net income $30M
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~4727d
0 buys · 2 sells (180d)
Catalysts
Regulatory
Financials
Short Interest
as of Apr 19, 2026- % of float
- 16.3%
- Days to cover
- 5.6
- Shares short
- 3,527,477
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
AMPH short interestGovernance
Frequently asked questions
What is the AI investment thesis for Amphastar Pharmaceuticals, Inc.?
Amphastar Pharmaceuticals is a biopharmaceutical company focused on developing, manufacturing, and marketing injectable and inhalation products, including generics, biosimilars, and proprietary drugs, with a recent FDA approval for Ipratropium Bromide HFA and a milestone payment from BAQSIMI.
What is Amphastar Pharmaceuticals, Inc.'s next catalyst?
Amphastar Pharmaceuticals, Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA210134" — expected September 23, 2039.
Who is the CEO of Amphastar Pharmaceuticals, Inc.?
Dr. Yongfeng Zhang Ph.D. is the chief executive officer of Amphastar Pharmaceuticals, Inc. (AMPH).
Where is Amphastar Pharmaceuticals, Inc. headquartered?
Amphastar Pharmaceuticals, Inc. (AMPH) is headquartered in Rancho Cucamonga, CA, United States.
What therapeutic areas does Amphastar Pharmaceuticals, Inc. focus on?
Amphastar Pharmaceuticals, Inc. develops therapies across Metabolic, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.