Here's Why Ampliphi Biosciences Corp (NYSEMKT:APHB) Is Running Right Now

Since we last covered Ampliphi Biosciences Corp (NYSEMKT:APHB), the company has been a real slow burner.At the time, May 5, Ampliphi shares went for around $1.20 apiece.During the nearly 6 months subsequent to this, price dipped to below one dollar for a period but gradually recovered heading into early October and, at the end of last week, once again reached $1.20 a share. APHB Daily ChartAt the start of this week, however, we've seen a spike in volume and a run towards $1.52 – 26% up on last week's pricing. At first glance, there is very little in terms of development that could be driving the action. There has been nothing filed with the the SEC and the most recent press release came this time last week, outlining the fact that management is set to present at two upcoming conferences.That's a development, but it's hardly a 26% revaluation catalyst.So what's moving the stock?Well, last time we covered it, we suggested that Ampliphi was an intriguing play but one that was very much under the radar. The company is at the preclinical stage with the whole of its development pipeline and doesn't expect to move into the clinic with any of its lead programs before mid next year at the earliest.Normally, a company in this sort of position doesn't really have much to offer investors by way of reward potential, in the sense that it's very difficult to judge the potential impact of an asset (a development stage asset, that is) when there's no data available as to how it might work in humans.That's normally.In this situation, however, things are a little different.Ampliphi is working to develop and bring to market antibiotics in target indications that are currently suffering from reduced efficacy of standard of care due to antibiotic resistance. Antibiotic resistance is a major problem globally right now, but especially in developed regions like the US, where overprescription has led to the developing of resistant bacteria and, by proxy, a dramatic reduction in the number of cases for which standard antibiotics bring about effective treatment.This rapid need for new antibiotics has led to an expanded access program (also called compassionate use), which allows patients to take drugs that are yet to be tested on humans if other SOC therapies have proven ineffective and if they are in real danger of death without a fresh asset treatment.The way it works is that a company submits an emergency IND to the FDA and the FDA green lights it to allow dosing.The upshot of this is that a company can start to collect data from in-human dosing before a drug moves into the clinic officially. This gives the company in question a jump on the standard clinical trial process and that's exactly what we've seen here.Ampliphi has two development assets (both targeting antibacterial resistance), one called AB-SA01 and another called AB-PA01 targeting S. aureus and P. aeruginosa respectively.Mid-September, the company treated a patient with SA01 and back in August did the same with PA01.The data from these dosings, therefore, are what we think is driving the action we've seen of late. And not only that, but we think it plays into the latest development mentioned above – the upcoming presentation by management.If the presentation is able to show that the drug was effective in these patients that don't have any other options available to them, it could serve as an early glimpse into potential future efficacy and could, in turn, really get this stock running ahead of the company taking both assets into standard clinical trials early to mid next year.Check out our previous coverage of APHB here. We will be updating our subscribers as soon as we know more. For the latest updates on APHB, sign up below!Image courtesy of NIAID via FlickrDisclosure: We have no position in APHB and have not been compensated for this article.