Aprea Therapeutics Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Aprea Therapeutics, Inc. (Nasdaq: APRE), a biopharmaceutical company focusing on novel cancer therapeutics, has announced an underwritten public offering of its common stock. All shares in this offering will be sold by Aprea, and the underwriter is granted a 30-day option to purchase an additional 15% of the shares. The offering is subject to market conditions. This move is part of Aprea's strategy to further advance its synthetic lethality-based therapies targeting DNA damage response pathways, including its clinical-stage ATR inhibitor program. Maxim Group LLC is the sole book-running manager for this offering.

Positive

• The public offering aims to raise capital for advancing the development of Aprea's clinical programs.
• Aprea's focus on synthetic lethality-based cancer therapeutics has significant market potential.

Negative

• The public offering may lead to shareholder dilution.
• The offering's success is contingent on market conditions, creating uncertainty.

DOYLESTOWN, Pa., Feb. 22, 2023 (GLOBE NEWSWIRE) -- 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 it has commenced an underwritten public offering of shares of its common stock. All shares of common stock in the offering are to be sold by Aprea. In addition, Aprea intends to grant the underwriter in the offering a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Maxim Group LLC is acting as sole book-running manager of the proposed offering.

The public offering is being 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 securities may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering will be filed with the SEC, will form a part of the effective registration statement and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary 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 the timing, size and expected gross proceeds of the offering, the satisfaction of customary closing conditions related to the offering and sale of shares, the grant to the underwriter of an option to purchase additional shares, our ability to complete the contemplated offering 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.com
212-600-1902 

FAQ

What is the purpose of Aprea's public offering of common stock?

The offering aims to raise capital to support the development of Aprea's clinical programs.

Who is managing the public offering for Aprea Therapeutics?

Maxim Group LLC is the sole book-running manager for the public offering.

What percentage of additional shares can the underwriter purchase in Aprea's offering?

The underwriter has a 30-day option to purchase up to an additional 15% of the shares offered.

How is Aprea's public offering expected to affect shareholders?

The offering may result in shareholder dilution risks if additional shares are issued.

When was Aprea's effective shelf registration statement for the offering filed?

The effective shelf registration was filed with the SEC on November 12, 2020.