Exhibit 99.1



Aerpio Reports First Quarter 2017 Financial Results

May 16, 2017 08:00 AM Eastern Daylight Time

CINCINNATI—(BUSINESS WIRE) Aerpio Pharmaceuticals, Inc. (“the Company”), a biopharmaceutical company focused on advancing first-in-class treatments for ocular diseases, today reported financial results for the first quarter ended March 31, 2017.

“In the first quarter, we announced our $40 million private placement and completed our reverse merger transaction,” said Joseph H. Gardner, CEO of Aerpio. “This new capital enables us to further the development of our product candidates, including the initiation of our planned Phase 2b clinical trial of AKB-9778 in patients with moderate to severe diabetic retinopathy. We look forward to the progress of this trial.”

Financial Highlights

As of March 31, 2017, the Company had cash and cash equivalents and short term investments of $35.2 million, compared to $1.6 million as of December 31, 2016. During the three months ended March 31, 2017, the Company received net proceeds of $37.2 million from the previously announced March 2017 financing as well as $0.3 million in January from an extension to the Aerpio senior secured convertible note financing in March 2016.

The following table summarizes our results of operations for the periods presented:


     Three Months Ended March 31,  
     2017      2016  

Operating expenses:


Research and development

   $ 2,255,584      $ 2,989,558  

General and administrative

     2,504,001        1,215,885  







Total operating expenses

     4,759,585        4,205,443  







Operating loss

     (4,759,585      (4,205,443

Grant income

     35,657        8,670  

Interest (expense) income, net

     (271,775      1,078  

Other income, net

     —          997  







Total other (expense) income, net

     (236,118      10,745  







Net loss and comprehensive loss

   $ (4,995,703    $ (4,194,698







The following information was filed by Aerpio Pharmaceuticals, Inc. (ARPO) on Tuesday, May 16, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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