Aerpio Pharmaceuticals Inc (NASDAQ: ARPO) is headed up in the market this morning after the company announced that it presented new data. As you could imagine, the data was positive, exciting investors and sending the stock up. Today, we’ll talk about:
- The data;
- what we’re seeing from ARPO stock as a result; and
- what we’ll be watching for ahead.
ARPO Announces Data Presentation
As mentioned above, Aerpio Pharmaceuticals is seeing gains early on in the trading session this morning after announcing that it presented data. The announcement came by way of press release early this morning.
In the release, ARPO said that it presented data showing the potential of AKB-9778. The treatment is a VE-PTP inhibitor and Tie2 activator that is being developed to lower intra-ocular pressure.
The company presented the data as part of a special session titled “The Role of the Tie2 Pathway in Ocular Disease.” The presentation was given at The Association for Research in Vision and Ophthalmology (ARVO) 2019 Annual Meeting.
ARPO said that the data was collected from two Phase 2 clinical trials, known as TIME-2 and TIME-2b. The data proved to be positive, showing that a twice daily administration of the treatment was safe, well tolerated, and effective in the reduction of intraocular pressure.
In a statement, Stephen Hoffman, M.D., CEO at ARPO, had the following to offer:
Although the TIME-2 and TIME-2b studies were designed to evaluate conditions other than glaucoma and included subcutaneous administration rather than a topical ocular formulation, which is typically used for this disease, we were encouraged by the consistent IOP reductions observed in two different studies.
In addition, these results are consistent with what we observed in preclinical studies in animal models, including a study presented at this conference on April 29. We are looking forward to initiating clinical development of a topical ocular formulation of AKB-9778 in the second quarter of 2019.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Aerpio Pharmaceuticals, the news proved to be positive.
After all, clinical stage biotech companies are heavily reliant on positive data. With positive data being presented, it only makes sense that excited investors are pushing the stock up in the market this morning.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:02), ARPO is trading at $1.06 per share after a gain of $0.04 per share or 3.92% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ARPO. In particular, we’re interested in following the company’s continued work to develop AKB-9778 as the data is promising to date. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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