Aerpio posts quarterly net income

Aerpio Pharmaceuticals reported a net income of $11.5 million, or $0.28 per share, in the third quarter of 2018 compared with a net loss of $4.6 million, or $0.17 per share, in 2017’s third quarter.
Revenue was $18.8 million in the quarter compared with no revenue a year ago, attributed to a licensing agreement, according to a press release.
Research and development costs for the quarter increased 48% while general and administrative expenses increased 81%.
Operating expenses totaled $7.6 million, including $0.8 million in non-cash stock compensation expense, compared with $4.8 million,

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