Healthcare stock under pressure: Aprea Therapeutics Inc (NASDAQ: APRE)

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Aprea Therapeutics Inc (NASDAQ: APRE) stock fell 9.49% on 3rd January, 2020 (Source: Google finance) on concerns of its cash position. As of September 30, 2019, prior to completing its IPO on October 7, 2019, the company had $52.3 million of cash and cash equivalents compared to $65.7 million of cash and cash equivalents as of December 31, 2018. The company had reported the net loss of $6.2 million for the quarter ended September 30, 2019, compared to a net loss of $3.1 million for the quarter ended September 30, 2018.

The most advanced trial of the Company is a pivotal phase III trial of APR-246 with Vidaza for the frontline treatment of TP53 mutant MDS. The Initial information from this trial is anticipated in the second half of 2020.

Two phase 1b/2 investigator-initiated trials, one in the U.S. and one in France, testing APR-246 with Vidaza as frontline treatment in TP53 mutant MDS and AML patients are also ongoing. The biopharmaceutical company focused on the development and commercializing novel cancer therapeutics that reactivate mutant tumor suppressor protein p53, presented results at the 2019 ASH Annual Meeting from its U.S. Phase Ib/II clinical trial in MDS and AML in December. The trial is evaluating the safety and efficacy of APR-246 in combination with azacitidine for the treatment of TP53 mutated MDS and AML. The clinical trial is sponsored by the Moffitt Cancer Center with financial support from the MDS Foundation and the Aplastic Anemia and MDS International Foundation as administrator for the Evans MDS Clinical Research Consortium.

Moreover, as of the data cutoff, the overall response rate (ORR) in 33 evaluable MDS patients was 88%, with a 61% complete remission (CR) rate, by International Working Group (IWG) criteria. With a median duration of follow-up of 10.8 months, the median duration of response was 8.4 months and the median duration of CR was 7.3 months. Seventeen (52%) evaluable MDS patients discontinued therapy to go for the stem cell transplant. Median overall survival (OS) for all enrolled patients (n=55) was 10.8 months. Median OS in responding patients compared to non-responders was 13.7 vs. 3.9 months. Adverse events, regardless of causality, were mostly grade 1/2. Grade 3+ adverse events occurring in ≥20% of patients were limited to cytopenias and infection, which was consistent with underlying hematopoietic malignancies, and no exacerbation of the expected AZA-related safety profile has been observed.

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