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Exhibit 99.1
Aerpio Reports First Quarter 2019 Financial Results and Provides Business Update
On Track to Initiate Phase 1b Clinical Trial of Topical Drop Formulation of AKB-9778 for Primary Open-Angle Glaucoma (POAG) in the Second Quarter of 2019
CINCINNATI(BUSINESS WIRE) Aerpio Pharmaceuticals, Inc. (Nasdaq: ARPO), a biopharmaceutical company focused on developing compounds that activate Tie2 to treat ocular diseases and diabetic complications, today reported financial results for the first quarter ended March 31, 2019, and provided a business update.
Although the TIME-2b study of the Tie2 activator, AKB-9778, did not meet its primary endpoint in non-proliferative diabetic retinopathy (NPDR), we continue to be encouraged by pre-specified secondary endpoint data that suggest the potential for AKB-9778 to treat primary open-angle glaucoma (POAG) and possibly diabetic nephropathy, said Stephen Hoffman, M.D., Ph.D., Chief Executive Officer of Aerpio. In the near-term, our top priority is the development of our topical drop formulation of AKB-9778 for POAG, for which we expect to begin a Phase 1b clinical trial this quarter, with data anticipated by the end of the year. Our glaucoma program, combined with our license with Gossamer Bio, Inc. for GB004, a hypoxia inducible factor (HIF)-1 alpha stabilizer in clinical development for inflammatory bowel disease, represent two promising clinical-stage programs, each with near-term milestones. Additionally, we have reduced our company expenses and are committed to moving forward in a capital-efficient manner. Based on our current development plans, we have sufficient capital to fund our operations through at least the second quarter of 2021.
Recent Company Highlights and Upcoming Milestones
| Announced top-line results of the TIME-2b clinical trial designed to evaluate the safety and efficacy of AKB-9778, a Tie2 activator, in NPDR; the study did not meet its primary endpoint; however, the study generated encouraging data in a number of prespecified, key secondary endpoints, including reductions in urine albumin-to-creatinine ratio (UACR), a measure of kidney function, suggesting potential utility as a treatment for diabetic nephropathy, and reductions in intraocular pressure (IOP), suggesting potential utility in open-angle glaucoma; |
| Presented encouraging preliminary IOP data from the Companys TIME-2b study at the Association for Research in Vision and Ophthalmology Annual Meeting 2019; and, |
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Aerpio Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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Aerpio Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ARPO
CIK: 1422142
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-19-017966
Submitted to the SEC: Thu May 09 2019 4:06:39 PM EST
Accepted by the SEC: Thu May 09 2019
Period: Sunday, March 31, 2019
Industry: Pharmaceutical Preparations