On Thursday, H.C. Wainwright reaffirmed its Buy rating and $20.00 stock price target for Aprea Therapeutics (NASDAQ:APRE), a biopharmaceutical company focused on developing and commercializing novel cancer therapies. With a current market capitalization of approximately $20 million and trading at $3.67, InvestingPro analysis suggests the stock is currently undervalued.
The average analyst price target ranges from $11 to $20, indicating significant potential upside. The firm's analyst emphasized Aprea's recent clinical pipeline update and its projected milestones for the year ahead. Aprea is concentrating on advancing its two precision oncology programs, APR-1051 and ATRN-119, which are being developed for the treatment of solid tumors.
Aprea's management anticipates having approximately $22.8 million in cash by the end of 2024, which they believe should be sufficient to support all ongoing operations for at least the next 12 months. According to InvestingPro data, the company maintains a strong current ratio of 7.28, indicating solid short-term liquidity, though investors should note the company is currently burning through cash at a significant rate.
Two key InvestingPro Tips highlight that while Aprea holds more cash than debt, it's not expected to be profitable this year. The company is currently enrolling patients into Cohort 4 of the ACESOT-1051 Phase 1 clinical trial, which is assessing APR-1051 in advanced solid tumors with certain biomarkers.
Notably, no hematologic toxicity has been reported thus far. A first look at the open-label safety and efficacy data for APR-1051 is expected by mid-2025, with the recommended phase 2 dose (RP2D) anticipated in early 2026.
The ATRN-119 program is also making progress in the Phase 1/2a ABOYA-119 study, which involves patients with advanced solid tumors that have mutations in specific DDR-related genes. The trial has completed its first five dose cohorts, ranging from 50 mg to 550 mg once daily.
The company has observed preliminary clinical benefits at 50 mg and 200 mg doses and has proposed a protocol amendment to test a 1500 mg once-daily dose and twice-daily doses between 400 mg and 750 mg. This amendment aims to optimize dosing and scheduling early in the development process. Similar to APR-1051, no hematologic toxicity has been reported for ATRN-119. The Phase 1 readout for ABOYA-119 is expected in the second half of 2025.
By maintaining the Buy rating and setting a $20 price target, H.C. Wainwright continues to show confidence in Aprea's strategic focus and execution on its clinical development programs. The company is poised to disclose a third candidate, another DDR (NYSE:SITC) inhibitor, soon, which could potentially expand its oncology pipeline further.
Despite posting a YTD return of 11.55%, the stock remains below its 52-week high of $8.85. For deeper insights into Aprea's financial health and additional analyst perspectives, investors can access 6 more exclusive ProTips and comprehensive financial metrics through InvestingPro.
In other recent news, Aprea Therapeutics announced preliminary safety results from its ongoing Phase 1 trial, ACESOT-1051, evaluating APR-1051, a new cancer drug. The trial aims to determine the safety and preliminary efficacy of APR-1051 for patients with advanced solid tumors.
Early findings suggest the drug is safe and well-tolerated with no hematologic toxicity observed. The trial is currently in the dose escalation phase, with patients receiving daily oral doses for 28-day cycles.
The company's Senior Medical (TASE:PMCN) Advisor, Philippe Pultar, expressed optimism about the drug's safety profile and its potential as a selective WEE1 inhibitor, crucial in the DNA damage response pathway. Aprea believes that APR-1051 could address the liabilities seen with other WEE1 inhibitors and may offer improved pharmacokinetic properties without the risk of QT prolongation.
Enrollment for the trial is active at three locations in the U.S., with additional sites planned. Further efficacy data from the study is anticipated in 2025. These are some of the recent developments at Aprea Therapeutics.
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