On October 18, 2024, Marc Duey, a director at Aprea Therapeutics, Inc. (NASDAQ:APRE), sold 6,462 shares of the company's common stock. The shares were sold at a price of $4.578 each, amounting to a total transaction value of $29,583. Following this sale, Duey holds 233,651 shares directly. Additionally, Duey's spouse holds 602 shares indirectly, although Duey disclaims beneficial ownership of these securities. The sale was automatically executed by Duey's broker due to an insufficient cash position in his brokerage account.
In other recent news, Aprea Therapeutics has reported preliminary safety results from its ongoing Phase 1 trial, ACESOT-1051, which evaluates the potential of APR-1051 as a treatment for patients with advanced solid tumors. The early findings, presented at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics, suggest that the drug is safe and well-tolerated, with no hematologic toxicity observed. Philippe Pultar, MD, Senior Medical Advisor and Lead of WEE1 Clinical Development at Aprea, expressed optimism about the drug's safety profile and its potential as a selective WEE1 inhibitor.
The trial is currently in the dose escalation phase, with patients receiving daily oral doses for 28-day cycles. Additional sites for the trial are planned, with active enrollment at three U.S. locations. The study consists of two parts: the current dose escalation phase and a subsequent phase for dose optimization to determine the recommended Phase 2 dose. Further efficacy data from the study is anticipated in 2025.
These recent developments highlight Aprea Therapeutics' ongoing efforts in the field of precision oncology. The company's lead program, ATRN-119, is also in development for solid tumor indications. APR-1051 has recently entered clinical trials, representing another step forward in Aprea's pursuit of effective cancer treatments.
InvestingPro Insights
To provide additional context to Marc Duey's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Aprea Therapeutics, Inc. (NASDAQ:APRE).
According to InvestingPro data, Aprea Therapeutics has a market capitalization of $22.16 million USD, reflecting its current valuation in the biotech sector. The company's revenue for the last twelve months as of Q2 2024 stands at $1.28 million USD, with a remarkable revenue growth of 410.91% over the same period. This substantial growth indicates that Aprea is in a phase of rapid expansion, which could be of interest to investors considering the recent insider sale.
InvestingPro Tips highlight that Aprea Therapeutics holds more cash than debt on its balance sheet, suggesting a relatively strong financial position. This aligns with another tip indicating that the company's liquid assets exceed short-term obligations. These factors may provide some reassurance to shareholders in light of the director's stock sale.
However, it's important to note that Aprea is quickly burning through cash and is not profitable over the last twelve months. This context helps explain why the director's broker automatically executed the sale due to an insufficient cash position, as mentioned in the article.
The stock's price movements are described as quite volatile, which is reflected in the recent performance data. While Aprea has seen a strong return of 42.16% over the last month, its year-to-date price total return is -13.19%. This volatility underscores the importance of careful consideration for investors.
For those seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for Aprea Therapeutics, providing a deeper understanding of the company's financial health and market position.
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