Aprea Therapeutics(APRE) - 2025 Q1 - Quarterly Results

Financial Performance - Aprea reported cash and cash equivalents of $19.3 million, down from $22.8 million as of December 31, 2024, providing runway into early Q2 2026[15]. - The company incurred an operating loss of $4.1 million for Q1 2025, compared to an operating loss of $3.1 million in Q1 2024[15]. - Aprea reported a net loss of $3.9 million ($0.66 per basic share) for Q1 2025, compared to a net loss of $2.8 million ($0.67 per basic share) in Q1 2024[15]. - Total current assets decreased to $19.8 million as of March 31, 2025, from $23.6 million as of December 31, 2024[19]. - Total stockholders' equity decreased to $15.5 million as of March 31, 2025, from $19.3 million as of December 31, 2024[19]. - Grant revenue for Q1 2025 was $162,463, a decrease of 57.4% compared to $380,569 in Q1 2024[20]. - Total operating expenses increased to $4,248,045 in Q1 2025, up 20.3% from $3,530,239 in Q1 2024[20]. - Net loss for Q1 2025 was $3,932,659, representing an increase of 40% from a net loss of $2,810,091 in Q1 2024[20]. - Net loss per share attributable to common stockholders was $0.66 in Q1 2025, slightly improved from $0.67 in Q1 2024[20]. - Weighted-average common shares outstanding increased to 5,993,866 in Q1 2025, compared to 4,198,326 in Q1 2024[20]. - Total other income decreased to $152,923 in Q1 2025, down 55% from $339,579 in Q1 2024[20]. - Interest income, net, was $204,726 in Q1 2025, a decrease of 27.7% from $283,403 in Q1 2024[20]. - The comprehensive loss for Q1 2025 was $3,932,016, compared to a comprehensive loss of $2,825,174 in Q1 2024[20]. Research and Development - Research and Development (R&D) expenses increased to $2.5 million in Q1 2025 from $1.6 million in Q1 2024, primarily due to the initiation of clinical trials for APR-1051 and ATRN-119[15]. - Aprea's ATR inhibitor, ATRN-119, showed early evidence of anti-tumor activity with tumor shrinkage of 7%, 14%, and 21% in three patients at the 550 mg twice daily dose level[2]. - The ongoing ACESOT-1051 trial for the WEE1 inhibitor APR-1051 is advancing, with patients now being dosed at 100 mg once daily, and preliminary efficacy data is expected in the second half of 2025[3]. - The recommended Phase 2 dose (RP2D) for ATRN-119 is expected to be identified in the first half of 2026, with preliminary safety and efficacy data anticipated in the second half of 2025[6]. - Aprea entered into a Material Transfer Agreement with MD Anderson Cancer Center to support preclinical research on APR-1051 for treating head and neck squamous cell carcinoma[9].