The company's capital base has eroded significantly, with total assets declining from $48.1 million in 2026Q1 to $15.9 million by 2025Q4, reflecting a heavy reliance on intangible clinical assets.
| Total Current Assets | 47.25M | 15.56M | 23.58M | 22.52M | 30.15M | 56.58M | 92.42M | 133.04M | 66M | 24.73M |
| Cash & Short-Term Investments | 46.47M | 14.6M | 22.85M | 21.61M | 28.79M | 53.08M | 89.02M | 130.09M | 65.68M | 24.4M |
| Cash Only | 46.47M | 14.6M | 22.85M | 21.61M | 28.79M | 53.08M | 89.02M | 130.09M | 65.68M | 24.4M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 779.24K | 961.9K | 726.25K | 914.27K | 1.37M | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 866.95K | 372.15K | 403.35K | 129.08K | 2.32K | 239.05K | 388.51K | 563.14K | 24.56K | 30.46K |
| Property, Plant & Equipment | 54.38K | 59.81K | 81.52K | 88.36K | 2.32K | 209.68K | 359.13K | 563.03K | 24.45K | 30.34K |
| Fixed Asset Turnover | 1.89x | - | 18.43x | 6.60x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 582.34K | 0 | 40.17K | 40.72K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 271.16K | 312.35K | 281.66K | 0 | 0 | 29.37K | 29.38K | 107 | 111 | 121 |
| Total Assets | 48.11M | 15.93M | 23.98M | 22.65M | 30.16M | 56.82M | 92.81M | 133.61M | 66.02M | 24.76M |
| Asset Turnover | 0.00x | - | 0.06x | 0.03x | - | - | - | - | - | - |
| Asset Growth % | 15.38% | -33.55% | 5.87% | -24.89% | -46.93% | -38.77% | -30.54% | 102.37% | 166.63% | - |
| Total Current Liabilities | 5.3M | 2.76M | 3.36M | 4.39M | 3.2M | 7.32M | 15.33M | 9.06M | 4.87M | 4.3M |
| Accounts Payable | 2.94M | 713.67K | 1.35M | 1.67M | 842.75K | 1.77M | 4.5M | 2.18M | 1.74M | 1.66M |
| Days Payables Outstanding | 261.31 | - | 52.71 | 86.46K | 18.75 | 2.38K | 7.16K | 4.67K | 76.34K | 76.47K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 528.97K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.78M | 770.56K | 465.01K | 1.17M | 960.36K | 1.42M | 1.52M | 961.79K | 2.5M | 1.92M |
| Current Ratio | 8.92x | 5.63x | 7.01x | 5.14x | 9.42x | 7.73x | 6.03x | 14.68x | 13.56x | 5.75x |
| Quick Ratio | 8.92x | 5.63x | 7.01x | 5.14x | 9.42x | 7.73x | 6.03x | 14.68x | 13.56x | 5.75x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 727.36K | 1.31M | 1.31M | 1.31M | 0 | 78.85K | 302.62K | 112.59M | 56.23M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 78.85K | 302.62K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 727.36K | 1.31M | 1.31M | 1.31M | 0 | 0 | 0 | 112.59M | 56.23M |
| Total Liabilities | 5.3M | 3.49M | 4.67M | 4.39M | 4.51M | 7.32M | 15.41M | 9.36M | 117.46M | 60.53M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 190.47K | 335.16K | 544.95K | 0 | 0 |
| Net Debt | -46.47M | -14.6M | -22.85M | -21.61M | -28.79M | -52.89M | -88.68M | -129.54M | -65.68M | -24.4M |
| Debt / Equity | 0.00x | - | - | - | - | 0.00x | 0.00x | 0.00x | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 3.70x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | -83.30x | - | -240.19x | -179.47x | -85320.18x | -999999.00x |
| Total Equity | 42.82M | 12.44M | 19.31M | 18.26M | 25.64M | 49.51M | 77.4M | 124.24M | -51.44M | -35.77M |
| Equity Growth % | 42.75% | -35.56% | 5.71% | -28.78% | -48.2% | -36.03% | -37.71% | 341.55% | -43.82% | - |
| Book Value per Share | 5.57 | 1.90 | 3.50 | 5.05 | 309.51 | 46.51 | 73.24 | 123.64 | -73.09 | -50.82 |
| Total Shareholders' Equity | 42.82M | 12.44M | 19.31M | 18.26M | 25.64M | 49.51M | 77.4M | 124.24M | -51.44M | -35.77M |
| Common Stock | 11.98K | 8.19K | 5.48K | 3.74K | 2.65K | 1.09K | 21.19K | 21.02K | 127.09K | 126.84K |
| Retained Earnings | -336.93M | -333.64M | -321.04M | -308.08M | -293.8M | -181.13M | -144.01M | -90.53M | -62.47M | -46.94M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -10.63M | -10.63M | -10.63M | -10.61M | -10.62M | -10.36M | -10.04M | -11.53M | -8.76M | -8.29M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, APRE's total assets have declined from $48.1 million in 2026Q1 to $15.9 million by 2025Q4, reflecting a rapid depletion of resources as the company funds its clinical-stage pipeline without any offsetting revenue streams to stabilize the balance sheet.
The sharp contraction in total assets over the observed period suggests that the company is consuming its primary liquidity to sustain R&D operations. This downward trajectory in asset value indicates that the firm is nearing a critical inflection point where external financing will be required to maintain its current clinical development pace.
Based on the company's reported figures, cash reserves plummeted from $46.5 million in 2026Q1 to $14.6 million in 2025Q4, signaling a significant reduction in the firm's operational buffer and increasing the urgency for a strategic partnership or dilutive capital raise to ensure continued viability.
While the current ratio remains above 5.0, this metric is somewhat deceptive given the lack of revenue and the high fixed costs associated with clinical trials. Investors should monitor the cash-to-burn ratio closely, as the current liquidity position appears insufficient to support long-term clinical development without further capital infusion.
According to the company's balance sheet data, the accumulated deficit has reached $333.6 million as of 2025Q4, which highlights the substantial historical value destruction that continues to weigh heavily on the firm's equity base and complicates future capital raising efforts.
The persistent growth of the accumulated deficit underscores the company's inability to generate profitable operations to date. This trend suggests that equity holders face significant dilution risk, as the company must likely issue new shares to offset the ongoing erosion of its book value.
As indicated by the provided data, the company maintains negligible net PPE of $59.8K, which suggests that the firm's value is almost entirely tied to intangible clinical assets rather than tangible infrastructure, making the balance sheet highly sensitive to potential impairment or clinical trial failure.
The absence of significant tangible assets means that the company's book value provides little downside protection for investors. Any negative clinical readout for the ATRN-119 program could lead to a rapid reassessment of the firm's remaining intangible value, potentially rendering the current equity valuation unsustainable.
Quick answers to the most common questions about buying APRE stock.
As of 2025, Aprea Therapeutics, Inc. (APRE) had total assets of $15.9M including $15.6M in current assets.
Aprea Therapeutics, Inc. (APRE) carries total debt of $0.0M, offset by $14.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Aprea Therapeutics, Inc. (APRE) has total shareholders' equity (book value) of $12.4M ($1.90 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Aprea Therapeutics, Inc. (APRE) reported a current ratio of 5.63x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.