Aerpio Pharmaceuticals Inc. (ARPO) shares surged 3.55% to $1.72 in the premarket on Thursday, May 27, 2021. ARPO ‘s stock price remained unchanged in the morning session Wednesday. ARPO shares have surged 116.11% over the last 12 months, and they have moved down 23.87% in the past week. Over the past three months, the stock has lost 4.52%, while over the past six months, it has added 3.68%.
Let’s see what’s happening in the recent past with Aerpio Pharmaceuticals Inc?
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Abstract presentation at ASCO annual meeting
On May 19, 2021, Aerpio Pharmaceuticals, Inc. provided an update about the abstract presentation by the Aadi Bioscienceat the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting which held onMay 16, 2021.
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Aerpio entered into an agreement and Plan of Merger among Aerpio, Aadi, and Aspen Merger Subsidiary, Inc.
New data about razuprotafib (AKB-9778)
On May 18, 2021, Aerpio Pharmaceuticals Inc revealed the new data about its experimental COVID-19 drugrazuprotafib (AKB-9778), which can potentially protect against profound endothelial dysfunction, a condition that can lead to blood vessel dysfunction.
Researchers found that the activation of the Tie2 receptor, AKB-9778 can reversed the prothrombotic state (abnormal blood clotting) induced by COVID-19 plasma in primary endothelial cells.
The reverse merger agreement with Aadi Bioscience
On May 17, 2021, Aerpio Pharmaceuticals Inc announced to merge with Aadi Bioscience.
According to the agreement, the new entity will operate under the Aadi Bioscience moniker and focus on advancing Aadi’s lead product candidate, Fyarrotm (sirolimus albumin-bound nanoparticles for injectable suspension; nab-sirolimus; ABI-009).
Neil Desai will lead the combined company and it will be headquartered in Los Angeles, California.
Recent financial results announcement
On May 17, 2021, Aerpio Pharmaceuticals, Inc released its financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- Net loss attributable to common stockholders was $4.4 million, or $0.09 per common share in Q1 2021, compared to $3.9 million, or $0.10 per common share, in Q1 2020.
- Research and development expenses were $2.2 million for Q1 2021 compared to $1.8 million in the three months ended March 31, 2020.
- General and administrative expenses were $2.1 million in Q1 2021 compared to $2.3 million, in Q1 2020.
- The total operating expenses were $5.6 million for Q1 2021 compared to $4.1 million for the same period in 2020.
- Aerpio Pharmaceuticals had cash and cash equivalents totalled $39.0 million on March 31, 2021, compared to $42.6 million as of December 31, 2020.
Conclusion
Well, as of this writing there is no recent news for the past week but there are some important developments that we have discussed and it is hard to predict how ARPO will perform in the coming days.