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Aprea Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in cash and cash equivalents to $26,249,625 from $21,606,820 at the end of 2023. This increase is attributed to proceeds from issuance of common stock and pre-funded warrants.
Total operating expenses for the quarter were $4,451,637, compared to $3,842,318 in the same quarter of the previous year. The increase is primarily due to higher research and development expenses.
Research and development expenses rose to $2,846,399 from $2,122,603, driven by increased costs related to the clinical trials of ATRN-119 and APR-1051.
General and administrative expenses decreased to $1,605,238 from $1,719,715, primarily due to reduced insurance costs.
Net loss for the quarter was $3,783,769, compared to $3,204,515 in the previous year. The increase in net loss is attributed to higher operating expenses.
Aprea reported a net loss per share of $0.64, compared to $0.86 in the previous year, reflecting an increase in weighted-average common shares outstanding.
The company had a working capital of $22,847,932 as of September 30, 2024. Aprea believes its cash balance will be sufficient to fund operations through at least the next twelve months.
The filing details the company's focus on developing ATRN-119 and APR-1051, with ongoing clinical trials and preclinical studies aimed at advancing these product candidates.
Aprea continues to explore strategic collaborations and licensing opportunities to support its development programs and potential commercialization efforts.
The company acknowledges risks associated with its business, including potential delays in clinical trials, regulatory challenges, and reliance on third-party manufacturers.
Aprea emphasizes its commitment to advancing its pipeline of synthetic lethality-based cancer therapeutics and addressing unmet medical needs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aprea Therapeutics Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.