Aptose Biosciences Files Q2 2024 10-Q

TL;DR

Aptose Bio's Q2 10-Q is in: financials and ops update.

AI Summary

Aptose Biosciences Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its operations. Key financial data and operational highlights are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Aptose Biosciences, crucial for understanding the company's trajectory in the biotechnology sector.

Risk Assessment

Risk Level: medium — Biotechnology companies often carry higher risk due to the nature of drug development and regulatory hurdles.

Key Numbers

• N/A — Revenue (Specific revenue figures are not immediately apparent in the provided snippet.)
• N/A — Net Income/Loss (Specific net income or loss figures are not immediately apparent in the provided snippet.)
• N/A — Cash and Equivalents (Specific cash and equivalents figures are not immediately apparent in the provided snippet.)

Key Players & Entities

• Aptose Biosciences Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240808 (date) — Filing date
• Lorus Therapeutics Inc. (company) — Former company name

FAQ

Filing Documents

• apto-20240630.htm (10-Q) — 1533KB
• apto-ex31_1.htm (EX-31.1) — 15KB
• apto-ex31_2.htm (EX-31.2) — 12KB
• apto-ex32_1.htm (EX-32.1) — 6KB
• apto-ex32_2.htm (EX-32.2) — 6KB
• img239728486_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-094205.txt ( ) — 6448KB
• apto-20240630.xsd (EX-101.SCH) — 1123KB
• apto-20240630_htm.xml (XML) — 998KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 4

– Financial Statements

Item 1 – Financial Statements 4

– Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 20

– Qualitative and Quantitative Disclosures about Market Risk

Item 3 – Qualitative and Quantitative Disclosures about Market Risk 36

– Controls and Procedures

Item 4 – Controls and Procedures 36

—OTHER INFORMATION

PART II—OTHER INFORMATION 37

– Legal Proceedings

Item 1 – Legal Proceedings 37

– Risk Factors

Item 1A – Risk Factors 37

– Exhibits

Item 6 – Exhibits 38

Signatures

Signatures 39 1 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities law, which we collectively refer to as "forward-looking statements". Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may," "would," "could,, "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "continue," "hope," "foresee" or the negative of these terms or other similar expressions concerning matters that are not historical facts. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others: our risk of imminent bankruptcy; we need to obtain substantial funding immediately in order to continue operations and our exploration of strategic alternatives; if a financing is completed, it may not be a large enough financing to fully fund the company operations, as such the use of proceeds used during a subsequent bankruptcy proceeding to settle existing liabilities; our suppliers or clinical sites may choose to implement work stoppage on key programs, change the terms of contracts or terminate contracts for key programs; our conversations with partners to renegotiate existing product license agreements may not be successful; our lack of product revenues and net losses and a history of operating losses; our compliance plans to address various notifications from Nasdaq and whether such compliance plans will be accepted by Nasdaq; our early stage of development, particularly th

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

– FINA NCIAL STATEMENTS

ITEM 1 – FINA NCIAL STATEMENTS Condensed Consolidated Interim Financial Statements (Unaudited) APTOSE BIOSCIENCES INC. For the three months and six months ended June 30, 2024 and 2023 4 APTOSE BIOSCIENCES INC. Condensed Consolidated Interim Statements of Financial Position (Expressed in thousands of US dollars) (unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 8,330 $ 9,252 Prepaid expenses 1,236 2,042 Other current assets 593 600 Total current assets 10,159 11,894 Non-current assets: Property and equipment 34 152 Right-of-use assets, operating leases 756 943 Total non-current assets 790 1,095 Total assets $ 10,949 $ 12,989 Liabilities and Shareholders' Equity Current liabilities: Accounts payable to related parties — $ 2,554 Accounts payable 7,111 3,492 Accrued liabilities 5,196 8,829 Current portion of lease liability, operating leases 404 394 Total current liabilities 12,711 15,269 Non-current liabilities: Lease liability, operating leases 414 621 Total liabilities 13,125 15,890 Shareholders' equity: Share capital: Common shares, no par value, unlimited authorized shares, 18,109,393 and 7,942,363 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 452,294 444,806 Additional paid-in capital 82,275 72,146 Accumulated other comprehensive loss ( 4,316 ) ( 4,316 ) Deficit ( 532,429 ) ( 515,537 ) Total shareholders' equity ( 2,176 ) ( 2,901 ) Total liabilities and shareholders' equity $ 10,949 $ 12,989 The accompanying notes are an integral part of these condensed consolidated interim financial statements (unaudited). Going concern, see Note 2. Commitments, see Note 8. Related party transactions, see Note 9. Subsequent events, see Note 12. 5 APTOSE BIOSCIENCES INC. Condensed Consolidated

View Full Filing

View this 10-Q filing on SEC EDGAR