Aprea Therapeutics(APRE) - 2025 Q4 - Annual Results

Financial Performance - Aprea reported a net loss of $2.5 million ($0.32 per basic share) for Q4 2025, an improvement from a net loss of $2.9 million ($0.49 per basic share) in Q4 2024[12]. - For the full year 2025, Aprea reported a net loss of $12.6 million ($1.93 per basic share), compared to a net loss of $13.0 million ($2.35 per basic share) in 2024[12]. - Net loss for the year ended December 31, 2025, was $12,599,569, compared to a net loss of $12,958,711 in 2024, indicating a 2.8% improvement[21]. - The net loss per share attributable to common stockholders for 2025 was $1.93, compared to $2.35 in 2024, reflecting an improvement of approximately 17.9%[21]. Cash and Assets - Cash and cash equivalents as of December 31, 2025, were $14.6 million, down from $22.8 million as of December 31, 2024[14]. - Total assets decreased from $23,979,493 in 2024 to $15,933,401 in 2025, a decline of approximately 33.5%[20]. - Total stockholders' equity decreased from $19,307,455 in 2024 to $12,441,682 in 2025, a decline of approximately 35.4%[20]. - The number of common shares outstanding increased from 5,481,055 in 2024 to 8,192,538 in 2025, an increase of about 49.4%[20]. Revenue and Expenses - Grant revenue for the year ended December 31, 2025, was $285,759, down from $1,502,581 in 2024, representing an 81% decrease[21]. - Total operating expenses decreased from $15,822,236 in 2024 to $13,519,595 in 2025, a reduction of about 14.5%[21]. - Research and development expenses for the year ended December 31, 2025, were $7,043,035, down from $9,363,537 in 2024, a decrease of approximately 25%[21]. - General and administrative expenses increased slightly from $6,458,699 in 2024 to $6,476,560 in 2025, an increase of about 0.3%[21]. - General and Administrative (G&A) expenses for Q4 2025 were $1.6 million, up from $1.1 million in Q4 2024, mainly due to increased personnel costs[12]. Research and Development - Research and Development (R&D) expenses for Q4 2025 were $1.0 million, significantly lower than $2.4 million in Q4 2024, primarily due to reduced costs associated with clinical trials[12]. - The ongoing ACESOT-1051 trial of APR-1051 has shown early clinical proof-of-concept with two patients achieving unconfirmed partial responses[5]. - APR-1051 is being evaluated in patients with PPP2R1A mutations, with one patient showing a 50% reduction in target lesion size and a significant drop in CA-125 levels[6][7]. - Aprea plans to enrich patient enrollment in the ACESOT-1051 trial for endometrial, colorectal, and HPV+ tumors, with further updates expected in Q2 2026[11]. - The recommended Phase 2 dose for ATRN-119 was determined to be 1,100 mg for once daily dosing, with further enrollment paused to explore combination approaches[11]. Financing Activities - Aprea completed two private placements in December 2025 and January 2026, raising gross proceeds of approximately $3.1 million and $5.6 million, respectively[11].