Form 4: Aprea Therapeutics Director Henneman John B III Acquires Common Stock and Warrants

Director John B Henneman III reports acquisition of Aprea Therapeutics common stock and warrants on March 13, 2024.

Summary

• On March 13, 2024, John B Henneman III, a director of Aprea Therapeutics, acquired 6,860 shares of common stock at $7.29 per share.
• Henneman also acquired Tranche A and Tranche B warrants.
• The Tranche A warrants are for 3,430 shares with an exercise price of $7.29 per share and expire on March 13, 2027, subject to certain conditions related to the Phase 2 dose announcement for ATRN-119 and the VWAP of the common stock reaching $14.58.
• The Tranche B warrants are for 3,430 shares with an exercise price of $9.1125 per share and expire on March 13, 2029, subject to certain conditions related to the Phase 2 dose announcement for APR-1051 and the VWAP of the common stock reaching $18.225.
• Following the transaction, Henneman directly owns 3,430 Tranche A warrants and 3,430 Tranche B warrants.

Sentiment

Score: 7

Explanation: Director's purchase of stock and warrants is generally a positive signal, suggesting confidence in the company's future, but the warrants' value is contingent on achieving specific milestones.

Positives

• Director's purchase of common stock and warrants may signal confidence in the company's future prospects.

Risks

• The warrants' expiration dates are contingent on the company achieving certain milestones related to Phase 2 dose announcements and stock price performance, which may not be realized.

Future Outlook

The value of the warrants is contingent on Aprea Therapeutics achieving certain clinical and market milestones, specifically the announcement of Phase 2 doses for ATRN-119 and APR-1051, and the company's stock price reaching certain levels.

Industry Context

This filing reflects insider activity, which is closely monitored by investors for signals about a company's prospects within the biotechnology industry. Director's purchases are often seen as a positive sign.

Comparison to Industry Standards

• Comparing Aprea Therapeutics to similar biotech companies like Relay Therapeutics or Black Diamond Therapeutics, insider transactions are a common occurrence.
• However, the specific terms of the warrants, such as the exercise prices and expiration conditions tied to clinical milestones, are unique to Aprea's situation and reflect the inherent risks and potential rewards of drug development.

Stakeholder Impact

• The director's purchase could positively influence shareholder sentiment.
• The potential success of ATRN-119 and APR-1051 will impact patients and the broader healthcare community.

Key Dates