Aerpio Prices $45M Public Offering, Moves to Nasdaq Capital Market

June 29, 2018: By Jon Swedien

Aerpio Pharmaceuticals announced June 26 that it intended to sell $45 million in common stock in an underwritten public offering.

The Cincinnati company also announced that it began trading on the Nasdaq Capital Market under the symbol “ARPO.”

The public offering included 11.7 million shares of common stock priced at $3.85 per share. The company granted underwriters a 30-day option to buy up to an additional 1.75 million shares to cover potential overallotments.

The firm said it expects net proceeds of about $41.8 million from its offering after deducting underwriting discounts, commissions, and estimated offering expenses.

Aerpio is focused on first-in-class treatments for ocular diseases. Its lead compound, AKB-9778, is a small molecule activator of the Tie2 pathway in clinical development for the treatment of non-proliferative diabetic retinopathy.

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