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Last10K.com | 10-Q Quarterly Report Thu May 07 2020
Exhibit 99.1
Aerpio Reports First Quarter 2020 Financial Results and Provides
Business Update
Razuprotafib (formerly known as AKB-9778) Phase 2 Open Angle Glaucoma Trial
on Track for Third Quarter Start
CINCINNATI, Ohio, May 7, 2020 – Aerpio Pharmaceuticals, Inc. (“Aerpio”) (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, 2020, and provided a business update.
“We continue to be excited about our glaucoma program,” said Joseph Gardner, President and Founder. “The statistically significant reductions in intraocular pressure (IOP) together with the favorable tolerability profile observed in the Phase 1b study in combination with standard of care prostaglandin therapy were very encouraging. We look forward to continuing to evaluate razuprotafib in the planned 28-day Phase 2 open angle glaucoma (OAG) study which we currently expect to initiate in the third quarter.”
Recent Company Highlights and Upcoming Milestones
| • | Completed a Phase 1b clinical trial designed to assess the safety of the Company’s lead candidate, razuprotafib in the form of topical ocular drops, for patients with OAG and ocular hypertension (OH). |
| • | Presented promising IOP lowering data from the Company’s Phase 1b clinical trial of topical ocular formulation of razuprotafib in patients with OAG and OH in February 2020 at the Glaucoma 360 conference in San Francisco. The IOP lowering activity observed in the Phase 1b trial when razuprotafib was combined with a prostaglandin appeared comparable to or better than published Phase 3 data for marketed adjuvant therapies. |
| • | Manufactured drug product in preparation for upcoming Phase 2 study of razuprotafib topical drops. |
First Quarter 2020 Financial Highlights
As of March 31, 2020, cash and cash equivalents totaled $34.6 million, compared to $38.5 million as of December 31, 2019.
For the three months ended March 31, 2020, operating expenses totaled $4.1 million, a decrease of 53.4%, compared to $8.8 million for the same period in 2019.
The following information was filed by Aerpio Pharmaceuticals, Inc. (ARPO) on Thursday, May 7, 2020 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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Aerpio Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
- Voting Procedures
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- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
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Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Document And Entity Information
Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Operations And Comprehensive (Loss) Income (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Tables)
Accounts Payable And Accrued Expenses - Schedule Of Accounts Payable And Accrued Expenses (Detail)
Common Stock
Common Stock - Additional Information (Detail)
Employee Stock Purchase Plan
Employee Stock Purchase Plan - Additional Information (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Schedule Of Future Payments Related To Operating Leases Activities (Detail)
Leases - Summary Of Lease Cost And Information Related To The Right-Of-Use Assets And Operating Lease Liabilities (Detail)
License Agreement
License Agreement - Additional Information (Detail)
Nature Of Organization And Operations
Nature Of Organization And Operations - Additional Information (Detail)
Net And Comprehensive Loss Per Share Attributable To Common Stockholders
Net And Comprehensive Loss Per Share Attributable To Common Stockholders (Tables)
Net And Comprehensive Loss Per Share Attributable To Common Stockholders - Schedule Of Computation Of Basic And Diluted Net And Comprehensive Loss Per Share (Detail)
Net And Comprehensive Loss Per Share Attributable To Common Stockholders - Schedule Of Weighted Average Common Stock Equivalents Excluded From Calculation Of Diluted Net Loss Per Share (Detail)
Preferred Stock
Preferred Stock - Additional Information (Detail)
Restructuring
Restructuring - Additional Information (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Stock Options Valuation Assumptions (Detail)
Stock-Based Compensation - Summary Of Recognized Compensation Cost Related To Employee And Non-Employee Stock-Based Compensation Activity (Detail)
Stock-Based Compensation - Summary Of Stock Option Activity (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Schedule Of Assets Measured On Recurring Basis (Detail)
Material Contracts, Statements, Certifications & more
Aerpio Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ARPO
CIK: 1422142
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-022411
Submitted to the SEC: Thu May 07 2020 8:52:50 AM EST
Accepted by the SEC: Thu May 07 2020
Period: Tuesday, March 31, 2020
Industry: Pharmaceutical Preparations
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