Aprea Therapeutics Secures Private Placement Financing Of Upto $34 Mln

(RTTNews) - Aprea Therapeutics, Inc. (APRE), a clinical stage biopharmaceutical company, Monday announced a securities purchase agreement with certain institutional investors to raise up to $34 million, constituting $16 million in upfront funding and up to $18 million in potential warrant exercise proceeds.

The company intends to use the proceeds of a private placement for financing Phase 1 ACESOT-1051 clinical trial as well as Phase 1/2a clinical trial or AR-276-01. It expects the funding to be sufficient to support Aprea into 2026.

The fundraising is led by Sphera Healthcare along with healthcare-focused investors, such as Nantahala Capital, DAFNA Capital Management, Exome Asset Management and Stonepine Capital Management, among others, as well as certain Company insiders.

The company also announced the issue of 2,194,788 shares of its common stock or pre-funded warrants, and accompanying warrants at a combined price of $7.29 per share.

The private placement is expected to close on or about March 13.

Currently, Aprea's stock is moving down 0.56 percent to $7.12 on the Nasdaq.