Why Is Precision Oncology-Focused Aprea Therapeutics Stock Trading Higher On Monday?
Portfolio Pulse from Vandana Singh
Aprea Therapeutics Inc (NASDAQ:APRE) announced FDA clearance for its IND application for APR-1051, a WEE1 kinase inhibitor aimed at treating cancers. The company plans to initiate a Phase 1 trial in 2024 and announced a private placement of up to $34 million to fund its development. APRE shares rose 6.17% to $7.57.
March 11, 2024 | 1:39 pm
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Aprea Therapeutics Inc announced FDA clearance for its IND application for APR-1051 and a private placement of up to $34 million to fund its development, leading to a 6.17% increase in its stock price.
The FDA clearance for APR-1051 represents a significant regulatory milestone for Aprea Therapeutics, indicating potential for future success in the oncology space. The announcement of a substantial private placement to fund the development of APR-1051 further boosts investor confidence, as it secures financial resources for the company's operations and research. These developments are likely to have a positive short-term impact on APRE's stock price, as evidenced by the 6.17% increase.
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