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Aerpio Pharmaceuticals, Inc. (ARPO) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

SEC Filings

Aerpio Pharmaceuticals, Inc.

CIK: 1607678 Ticker: ARPO

Exhibit 99.1

 

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Aerpio Reports First Quarter 2021 Financial Results

and Provides Business Update

 

   

Ended first quarter 2021 with $39.0 million in cash and cash equivalents

 

   

Subsequent to March 31, 2021, Aerpio entered into an agreement and plan of merger with Aadi Bioscience, Inc.

CINCINNATI, Ohio, May 17, 2021 – Aerpio Pharmaceuticals, Inc. (“Aerpio”) (Nasdaq: ARPO), a biopharmaceutical company focused on developing compounds that activate Tie2, today reported financial results for the first quarter ended March 31, 2021 and provided a business update.

Key Business Update:

 

   

On May 16, 2021, Aerpio entered into an agreement and plan of merger with Aadi Bioscience, Inc., a Delaware company (“Aadi”), and Aspen Merger Subsidiary, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Aerpio (“Merger Sub”), wherby Merger Sub will merge with and into Aadi with Aadi surviving as a wholly-owned subsidiary of Aerpio. The proposed merger was approved by the members of the board of directors of Aerpio (the “Board”) and the Board resolved to recommend approval of the proposed merger agreement to Aerpio’s shareholders. The closing of the proposed Aadi merger is subject to approval of the Aerpio shareholders and the satisfaction of certain closing conditions, including approval by Aerpio’s shareholders, the completion of the PIPE financing described below and other customary closing conditions.

 

   

Following the proposed merger, Aerpio will change its name to “Aadi Bioscience, Inc.” and the combined public company will focus on advancing Aadi’s lead product candidate, FYARROTM (sirolimus albumin-bound nanoparticles for injectable suspension; nab-sirolimus; ABI-009).

 

   

In connection with the execution of the proposed merger with Aadi, Aerpio entered into subscription agreements to raise an aggregate of $155 million in a Private Investment in Public Equity (“PIPE”) financing in shares of common stock and pre-funded warrants to purchase Aerpio common stock. The financing is expected to be consummated concurrently with the closing of the proposed merger, subject to customary closing conditions, and is contingent on the closing of the proposed merger.

 

   

If Aerpio is unable to satisfy the closing conditions in Aadi’s favor or if other applicable closing conditions are not satisfied, Aadi will not be obligated to complete the proposed merger. Under certain circumstances, Aerpio would be required to pay Aadi a termination fee of $2 million.


The following information was filed by Aerpio Pharmaceuticals, Inc. (ARPO) on Monday, May 17, 2021 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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Assess how Aerpio Pharmaceuticals, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Aerpio Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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  • Executive Team
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Inside Aerpio Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

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 (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)
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 Basic And Diluted Net And Comprehensive 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)
Subsequent Events
Subsequent Events - Additional Information (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: 0001564590-21-028204
Submitted to the SEC: Mon May 17 2021 8:56:58 AM EST
Accepted by the SEC: Mon May 17 2021
Period: Wednesday, March 31, 2021
Industry: Pharmaceutical Preparations

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