Aprea Therapeutics(APRE) - 2025 Q3 - Quarterly Results

Financial Performance - As of September 30, 2025, Aprea reported cash and cash equivalents of $13.7 million, down from $22.8 million as of December 31, 2024, indicating a decrease of approximately 40%[8] - The company reported an operating loss of $3.1 million for Q3 2025, an improvement from an operating loss of $4.1 million in Q3 2024, reflecting a reduction of about 24%[13] - The net loss for Q3 2025 was $3.0 million, or $0.47 per basic share, compared to a net loss of $3.8 million, or $0.64 per basic share, in the same period of 2024, representing a reduction of about 21% in net loss per share[13] - Total operating expenses for Q3 2025 were $3,119,236, down from $4,451,637 in Q3 2024, representing a decrease of approximately 30%[19] - Net loss for Q3 2025 was $(2,972,410), an improvement from $(3,783,769) in Q3 2024, indicating a reduction in losses[19] - Total comprehensive loss for the nine months ended September 30, 2025, was $(10,146,094), compared to $(10,057,386) for the same period in 2024[19] Research and Development - Research and Development (R&D) expenses decreased to $1.6 million in Q3 2025 from $2.8 million in Q3 2024, a decline of approximately 43%[13] - Research and development expenses for the nine months ended September 30, 2025, were $6,034,196, compared to $7,004,451 for the same period in 2024, reflecting a decrease of about 14%[19] - The recommended Phase 2 dose (RP2D) for ATRN-119 was identified as 1,100 mg once daily, following the completion of the dose-escalation study[9] - Aprea is considering combination strategies for ATRN-119 with radiation or checkpoint inhibitors to enhance clinical impact[3] - In the ongoing Phase 1 ACESOT-1051 trial for APR-1051, 3 out of 4 patients (75%) in the 100 mg once daily cohort achieved stable disease[5] Assets and Equity - Aprea's total assets as of September 30, 2025, were reported at $14.3 million, down from $24.0 million as of December 31, 2024, reflecting a decrease of approximately 40%[17] - Total stockholders' equity decreased to $10.9 million as of September 30, 2025, from $19.3 million at the end of 2024, a decline of about 44%[17] Revenue and Income - Grant revenue for Q3 2025 was $1,848, compared to $354,621 in Q3 2024, showing a significant increase[19] - Interest income for Q3 2025 was $150,669, compared to $348,741 in Q3 2024, showing a decline of approximately 57%[19] - Total other income for Q3 2025 was $144,978, down from $313,247 in Q3 2024, indicating a decrease of approximately 54%[19] Shareholder Information - The weighted average common shares outstanding for Q3 2025 were 6,372,938, an increase from 5,939,755 in Q3 2024[19] - The net loss per share attributable to common stockholders for Q3 2025 was $(0.47), an improvement from $(0.64) in Q3 2024[19] Currency Impact - Foreign currency translation resulted in a loss of $(1,117) in Q3 2025, contrasting with a gain of $23,557 in Q3 2024[19] Cash Runway - The company has cash runway projected into the fourth quarter of 2026, indicating sufficient funds to meet operational needs[2]