While the company's shares continue to be traded on the Toronto Stock Exchange under the ticker "APS," the Nasdaq's notice does not impact its TSX listing. Aptose Biosciences (NASDAQ:APTO) has stated that it will monitor the closing bid price of its common shares and may consider other options to regain compliance with Nasdaq's requirements.However, there is no guarantee that the company will be able to meet the Minimum Bid Price Requirement or comply with other Nasdaq Listing Rules. With an EBITDA of -$36.15 million in the last twelve months and rapidly depleting cash reserves, as highlighted in InvestingPro's comprehensive analysis (which includes 11 additional key insights), the company's efforts to address these challenges will be closely watched by shareholders and market observers in the coming weeks.
While the company's shares continue to be traded on the Toronto Stock Exchange under the ticker "APS," the Nasdaq's notice does not impact its TSX listing. Aptose Biosciences has stated that it will monitor the closing bid price of its common shares and may consider other options to regain compliance with Nasdaq's requirements.However, there is no guarantee that the company will be able to meet the Minimum Bid Price Requirement or comply with other Nasdaq Listing Rules. With an EBITDA of -$36.15 million in the last twelve months and rapidly depleting cash reserves, as highlighted in InvestingPro's comprehensive analysis (which includes 11 additional key insights), the company's efforts to address these challenges will be closely watched by shareholders and market observers in the coming weeks.
While the company's shares continue to be traded on the Toronto Stock Exchange under the ticker "APS," the Nasdaq's notice does not impact its TSX listing. Aptose Biosciences has stated that it will monitor the closing bid price of its common shares and may consider other options to regain compliance with Nasdaq's requirements.
However, there is no guarantee that the company will be able to meet the Minimum Bid Price Requirement or comply with other Nasdaq Listing Rules. The company's efforts to address this issue will be closely watched by shareholders and market observers in the coming weeks.
This news is based on a recent SEC filing by Aptose Biosciences Inc.
In other recent news, Aptose Biosciences has maintained its share target and Buy rating, as confirmed by H.C. Wainwright, following the company's announcement of a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI). The agreement aims to further the clinical development of tuspetinib (TUS), specifically exploring its use in combination with targeted therapies for treating acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). This research will be part of the NCI Cancer Therapy Evaluation Program's myeloMATCH trials.
Beyond the myeloMATCH program, Aptose is progressing with a triplet combination regimen of TUS, venetoclax (VEN), and azacitidine (AZA) for newly diagnosed AML patients who are ineligible for chemotherapy. This is being carried out through the Phase 1/2 TUSCANY trial, which is set to commence dosing TUS at 40 mg, with plans to increase dosage pending positive safety assessments. The TUSCANY trial protocol has been submitted to participating sites, reviewed by the FDA, and the study is expected to begin in the fourth quarter of 2024.
Other recent developments include Aptose Biosciences' plans to present CR/safety data from the APTIVATE TUS+VEN doublet study and provide dosing accrual updates for the triplet study at the American Society of Hematology (ASH) meeting in the fourth quarter of 2024. The company also aims to enroll two dose cohorts in the triplet study and report on complete remission, minimal residual disease, and safety data for the triplet study in the first half of 2025. By 2025, Aptose plans to present maturing data for the triplet study at the European Hematology Association (EHA), finalize the TUS dose for the Phase 2/3 pivotal trials at ASH 2025, and prepare for Phase 2 of the Phase 2/3 pivotal program.
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