Aprea Therapeutics Announces Closing of $5.5 Million Underwritten Public Offering of Common Stock
28 February 2023 - 8:05AM
Aprea Therapeutics, Inc. (Nasdaq: APRE) (“Aprea”, or the
“Company”), a biopharmaceutical company focused on developing novel
synthetic lethality-based cancer therapeutics targeting DNA damage
response (DDR) pathways, today announced the closing of its
previously announced underwritten public offering of 1,050,000
shares of its common stock at a public offering price of $5.25 per
share. Gross proceeds from the offering before deducting
underwriting discounts and commissions and offering expenses are
approximately $5.5 million. In addition, Aprea has granted the
underwriter a 30-day option to purchase up to an additional 157,500
shares of common stock.
The net proceeds received from the public
offering will enable the Company to continue developing its
clinical asset, ATRN-119, its pre-clinical asset ATRN-W1051 and for
general corporate purposes.
Maxim Group LLC acted as sole book-running
manager for the offering.
The public offering was made pursuant to an
effective shelf registration statement on Form S-3, as amended
(File No. 333-250041), previously filed with the U.S. Securities
and Exchange Commission (SEC) on November 12, 2020 and declared
effective on November 30, 2020. The final terms of the offering are
disclosed in the final prospectus supplement which has been filed
with the SEC. Copies of the final prospectus supplement and
accompanying prospectus relating to the public offering may also be
obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th
Floor, New York, NY 10022, Attention: Prospectus Department, or by
telephone at (212) 895-3745 or by email at
syndicate@maximgrp.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Aprea Therapeutics
Aprea Therapeutics, Inc. is a biopharmaceutical
company headquartered in Doylestown, Pennsylvania, focused on
developing and commercializing novel synthetic lethality-based
cancer therapeutics targeting a critical pathway and some of the
most central targets in DDR and cancer progression. The Company’s
lead program is ATRN-119, a clinical-stage small molecule ATR
inhibitor being developed for solid tumor indications. The
Company’s WEE1 inhibitor is being advanced to IND submission.
Forward Looking Statement
Certain information contained in this press
release includes “forward-looking statements,” within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
related to the anticipated offering. We may, in some cases use
terms such as “future,” “predicts,” “believes,” “potential,”
“continue,” “anticipates,” “estimates,” “expects,” “plans,”
“intends,” “targeting,” “confidence,” “may,” “could,” “might,”
“likely,” “will,” “should” or other words that convey uncertainty
of the future events or outcomes to identify these forward-looking
statements. Our forward-looking statements are based on current
beliefs and expectations of our management team that involve risks,
potential changes in circumstances, assumptions, and uncertainties.
Any or all of the forward-looking statements may turn out to be
wrong or be affected by inaccurate assumptions we might make or by
known or unknown risks and uncertainties. These forward-looking
statements are subject to risks and uncertainties including risks
related to our intended use of proceeds and the other risks set
forth in our filings with the U.S. Securities and Exchange
Commission. For all these reasons, actual results and developments
could be materially different from those expressed in or implied by
our forward-looking statements. You are cautioned not to place
undue reliance on these forward-looking statements, which are made
only as of the date of this press release. We undertake no
obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.
Investors and Media:
aprea@argotpartners.com212-600-1902
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