Financial Performance - Total revenue for Q1 2025 was $7.1 million, an increase from $5.4 million in Q1 2024, representing a 32.5% year-over-year growth[7] - Net income for Q1 2025 was $73.0 million, including a gain of $87.4 million from the sale of Aadi Subsidiary, compared to a net loss of $18.3 million in Q1 2024[7] - Basic net income per share for Q1 2025 was $1.84, compared to a loss of $0.68 per share in Q1 2024[16] Cash and Investments - Cash, cash equivalents, and short-term investments as of March 31, 2025, were $231.1 million, up from $47.2 million as of December 31, 2024[7] - The company expects to have approximately $185 million in cash and cash equivalents post-transaction payments, which is anticipated to fund operations into 2028[7] Operational Highlights - Operating expenses for Q1 2025 totaled $22.4 million, a decrease from $24.9 million in Q1 2024[16] - The company completed a $100 million PIPE financing and divested Aadi Subsidiary for $102.4 million[7] - The total assets as of March 31, 2025, were $234.0 million, significantly higher than $70.3 million as of December 31, 2024[14] Development Pipeline - The company aims to bring all three ADC assets to IND by mid-2026, with the first IND expected to be filed in Q4 2025[3] - The ADC portfolio targets PTK7, MUC16, and SEZ6, which are believed to have broad clinical impact potential comparable to established targets like HER2 and TROP2[3]
Aerpio Pharmaceuticals(AADI) - 2025 Q1 - Quarterly Results