Aprea Therapeutics raises $30 million in private placement

Aprea Therapeutics Inc. (NASDAQ: APRE) completed a private placement financing that raised approximately $30 million in gross proceeds before fees and expenses. The clinical-stage oncology company announced March 30 that the offering was oversubscribed.

Soleus Capital led the financing, with participation from new investors including Vestal Point Capital and Squadron Capital Management, along with existing investors and company insiders.

The company will sell pre-funded warrants to purchase approximately 37.2 million shares of common stock at $0.807 per warrant, and standard warrants to purchase another 37.2 million shares. The standard warrants have an exercise price of $0.683 per share, are immediately exercisable upon issuance, and expire December 31, 2029, or 30 days after exercise of the pre-funded warrants.

Aprea plans to use the net proceeds for general corporate purposes and research and development expenses. The transaction is expected to close March 31, subject to customary closing conditions.

The company stated it will use the funds to enroll at least 50 patients with uterine serous carcinoma and patients with Cyclin E-overexpressing, platinum-resistant ovarian cancer in its ongoing ACESOT-1051 Phase 1 trial. Aprea expects to complete dose escalation of the trial in the second quarter of 2027 and anticipates the proceeds will extend its cash runway into the first quarter of 2028.

Oppenheimer & Co. Inc. served as lead placement agent, with Maxim Group LLC as co-lead placement agent. The securities were sold under Section 4(a)(2) of the Securities Act and Regulation D, and have not been registered. The company agreed to file a registration statement for resale of the securities.

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