0001104659-26-028068
SEC filingAprea Therapeutics, Inc. (APRE) reported a net loss of $12.6 million for FY 2025, an improvement from $13.0 million in FY 2024, driven by reduced operating expenses to $13.5 million from $15.8 million, despite grant revenue declining to $286K from $1.5 million. Research and development expenses fell to $7.0 million from $9.4 million, while general and administrative held steady at $6.5 million. Loss from operations narrowed to $13.2 million from approximately $14.3 million. Cash used in operations was $12.9 million, with net cash provided by financing of $4.6 million, resulting in an $8.3 million decrease in cash, cash equivalents, and restricted cash to $21.6 million. Balance sheet shows $15.9 million total assets, including $14.6 million cash, and $12.4 million stockholders' equity. EPS improved to -$1.93 from -$2.35. The company faces going concern doubts with cash insufficient for 12 months, advancing APR-1051 Phase 1 trial with early proof-of-concept and pausing ATRN-119 monotherapy for combinations. Strategic focus on synthetic lethality oncology pipeline amid liquidity challenges.
Aprea Therapeutics reported FY 2025 net loss of $12.6 million ($-1.93 per share) on $0.29 million grant revenue, improving from $13.0 million loss ($-2.35 per share) on $1.5 million revenue in FY 2024. Operating expenses declined 15% to $13.5 million, with R&D at $7.0 million (down 25%) and G&A at $6.5 million (flat). Loss from operations narrowed to $13.2 million. Total comprehensive loss was $12.6 million. Balance sheet reflects $15.9 million assets, $14.6 million cash, $2.8 million current liabilities, and $12.4 million equity. Going concern uncertainty noted due to insufficient cash runway.
Grant revenue of $286K in FY 2025 declined sharply 81% from $1.5 million in 2024, reflecting reduced reimbursable R&D activities. No other revenue sources disclosed. As a clinical-stage biopharma, revenue remains minimal, tied to grants amid pipeline advancement in APR-1051 and ATRN-119 programs. No geographic or segment revenue breakdown provided.
No gross profit applicable due to grant revenue structure without COGS. Operating margin effectively -4,600% on low revenue base, improved from prior year due to expense cuts. Net margin similarly negative. Cost structure shows R&D 52% of op ex (down from 59%), G&A 48%. Stock-based compensation $478K, other income $634K offset some losses.
Operating cash use $12.9M, investing -$15K, financing +$4.6M (from $5.0M stock issuance net of costs). Net change -$8.3M, ending $21.6M total cash/restricted. Assets $15.9M (current $15.6M), liabilities $2.8M current, equity $12.4M (APIC $356.7M offset by $333.6M deficit). Series A preferred $0.7M outstanding. No debt.
Management highlights APR-1051 Phase 1 progress with unconfirmed partial responses, dose escalation to complete Q3 2026, data Q2 2026. ATRN-119 RP2D set, monotherapy paused for combinations (radiation, ADCs, I/O). Preclinical APR-1602 IND-enabling Q4 2026. Seeks financing amid cash shortfall; risks include trial delays, competition in WEE1/ATR inhibitors, going concern.