Aprea Therapeutics, Inc. (APRE), a clinical-stage biopharmaceutical company, has seen an increase of 17.32% in the premarket trading session. Consequently, APRE stock is trading at $5.69 at the time of this writing. Apparently, the reason for this increase seems to be the presentation of data at ESMO Congress 2021. On Monday, APRE stock closed the day after declining 4.15% in regular trading session.
APRE presented Data at ESMO
On Monday, 20th June, APRE announced to have presented data at European Society of Medical Oncology (ESMO) Congress 2021. The data was from ½ clinical trial in advanced solid tumors. The trial was meant to evaluate the efficacy and safety of eprenetapopt in combination with pembrolizumab. On cut-off date, i.e. 31st July, 33 patients were enrolled in the study, while 31 had begun the treatment. The phase-1 part was dose de-escalation design. In 6 patients, no-dose limiting toxicities were confirmed. Afterwards, a phase-2 expansion part began. Till cut-off date, 3 patients in GEJ cancer, 3 in urothelial cancer and 19 in NSCLC cohorts had been enrolled. In general, 25 patients showed mutation in TP53 gene. The company said that the trial is continued and exploratory studies are ongoing.
Q2 2021 financial results
On 12th August, APRE reported the unaudited quarterly results for second quarter of fiscal year 2021, ended 30th June 2021. According to the details, on 30th of June, the company had cash and cash equivalents of $69.8 million. The total assets stood at $71.54 million. Total liabilities were $10.59 million. The total operating expenses during the quarter stood at $9.99 million. During Q2 2020, the total operating expenses were $14.48 million. The net loss during the quarter stood at $10.25 million. During Q2 2020, the net loss was $16.36 million. The net loss per basic and diluted share during the quarter was $0.48. During equivalent period of 2020, the net loss per basic and diluted share was $0.78.
FDA placed hold over clinical trial
On same day, i.e. 12th August, APRE announced that US FDA had placed a hold over its clinical trial. The clinical trial was evaluating eprenetapopt with acalabrutinib or with venetoclax and rituximab in lymphoid malignancies. FDA had said that no additional patients could be enrolled in the trial until the hold is resolved. The patients on study deriving clinical benefit can continue to receive study treatment, FDA said. Subsequently, FDA also told Apera about a clinical hold on its lymphoid malignancy study. The company said that one CLL patient was currently on study treatment. It said that the patient was receiving eprenetapopt in combination with venetoclax and rituximab and has achieved complete remission.
What’s next for APRE?
Based on recent past performance, future appears positive for APRE stock. The stock has increased by 10% during past one week and 41% during last one month. The clinical trial carries out by the company would also impact the performance of APRE stock one way or other in the future. So, potential investors should keep a close watch on APRE.
