|Bid||1.9500 x 900|
|Ask||1.9600 x 2900|
|Day's Range||1.5400 - 1.8700|
|52 Week Range||0.7210 - 2.3100|
|Beta (5Y Monthly)||1.67|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 17, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.50|
Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Aerpio Pharmaceuticals, Inc. (NASDAQ: ARPO) and Aadi Bioscience, Inc. is fair to Aerpio shareholders. Under the merger, Aadi shareholders will receive newly issued shares of Aerpio common stock. On a pro forma basis, Aerpio shareholders will own approximately 33.2% of the combined company upon the closing of the merger prior to the additional PIPE financing transaction. Following the closing of the concurrent PIPE financing, Aerpio shareholders will own approximately 14.7% of the combined company.
Aerpio Pharmaceuticals Inc (NASDAQ: ARPO) unveiled new data suggesting that its experimental COVID-19 drug, razuprotafib (AKB-9778), can potentially protect against profound endothelial dysfunction, a condition that can lead to blood vessel dysfunction. According to a preprint published in medRxiv, researchers found that by activating the Tie2 receptor, AKB-9778 reversed the prothrombotic state (abnormal blood clotting) induced by COVID-19 plasma in primary endothelial cells (those that provide signaling between the bloodstream and surrounding tissue). During inflammation triggered by COVID-19, the Tie2 antagonist angiopoietin-2 (Angpt-2) is released from activated endothelial cells and inhibits Tie2, potentially leading to thrombosis. "Our findings provide a novel rationale for current trials of Tie2 activating therapy with AKB-9778 in severe COVID-19 disease," the researchers wrote. The data is not peer-reviewed yet. Yesterday, Aerpio announced a reverse merger agreement with Aadi Bioscience. Price Action: ARPO shares trading 8.4% lower at $1.52 during the premarket session on the last check Tuesday. See more from BenzingaClick here for options trades from BenzingaAerpio Pharmaceuticals Announces Reverse Merger Agreement With Aadi Bioscience© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Aerpio Pharmaceuticals Inc (NASDAQ: ARPO) has agreed to merge with a privately-held Aadi Bioscience. Following the proposed merger, 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). Aerpio has entered into PIPE financing of $155 million led by Acuta Capital Partners, KVP Capital, and other institutional investors. With the cash expected from both companies at closing, the net proceeds of the PIPE financing are expected to fund the company into 2024. The combined company will be led by Aadi's chief executive officer, Neil Desai, and headquartered in Los Angeles, California. Aadi's board members Neil Desai and Richard Maroun; Aadi's board observer Karin Hehenberger; and current Aerpio board members Anupam Dalal and Caley Castelein will be members of the board of directors of the combined company. In addition, Behzad Aghazadeh, managing partner of Avoro Capital Advisors and Avoro Ventures, will also join the board. Under the terms of the merger agreement, shareholders of Aadi will receive shares of newly issued Aerpio common stock. On a pro forma basis, shareholders of Aadi will own approximately 66.8%, and shareholders of Aerpio will own about 33.2% of the combined company before the additional PIPE financing transaction. The merger agreement has been approved by the boards of directors of both companies and is expected to close in the third quarter of 2021 Ladenburg Thalmann is acting as financial advisor to Aerpio for the transaction, and Perella Weinberg Partners and Piper Sandler are acting as financial advisors to Aadi. Price Action: ARPO shares are up 17.2% at $1.36 in the premarket session on the last check Monday. See more from BenzingaClick here for options trades from BenzingaBristol Myers Unveils More Mavacamten Data To Backup Case For Heart DrugSeelos Therapeutics' SLS-002 Shows Clinically Meaningful Efficacy As Anti-Depressive, Anti-Suicidal Therapeutic After Single Dose© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.