Aptose Biosciences Faces Nasdaq Delisting Warning

TL;DR

Nasdaq says Aptose stock price too low, needs to fix by Jan 2025 or get booted.

AI Summary

Aptose Biosciences Inc. announced on July 16, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules, specifically related to the minimum bid price requirement. The company has until January 13, 2025, to regain compliance. This filing also includes financial statements and exhibits, and a Regulation FD disclosure.

Why It Matters

Failure to regain compliance with Nasdaq's minimum bid price rule could lead to the delisting of Aptose Biosciences' stock, potentially impacting its liquidity and investor confidence.

Risk Assessment

Risk Level: medium — The company is at risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement, which could negatively affect its stock value and investor access.

Key Numbers

• January 13, 2025 — Compliance Deadline (The date by which Aptose Biosciences must regain compliance with Nasdaq's minimum bid price rule.)

Key Players & Entities

• Aptose Biosciences Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Listing Exchange
• July 16, 2024 (date) — Date of Notice
• January 13, 2025 (date) — Compliance Deadline

FAQ

Key Financial Figures

• $1.00 — mmon shares have been below the minimum $1.00 per share required for continued listin

Filing Documents

• f8k_071924.htm (8-K) — 17KB
• exh_991.htm (EX-99.1) — 6KB
• 0001171843-24-004037.txt ( ) — 223KB
• gnw-20190101.xsd (EX-101.SCH) — 3KB
• gnw-20190101_def.xml (EX-101.DEF) — 25KB
• gnw-20190101_lab.xml (EX-101.LAB) — 33KB
• gnw-20190101_pre.xml (EX-101.PRE) — 22KB
• f8k_071924_htm.xml (XML) — 3KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 16, 2024, Aptose Biosciences Inc. (the "Company") received a deficiency letter (the "Deficiency Letter") from the Nasdaq Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last thirty (30) consecutive business days, the closing bid price for the Company's common shares have been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Deficiency Letter has no immediate effect on the listing of the Company's common shares, and its common shares will continue to trade on The Nasdaq Capital Market under the symbol "APTO" at this time. The Company's common shares continue to trade on the Toronto Stock Exchange ("TSX") under the symbol "APS". The Company's listing on the TSX is independent and will not be affected by the Nasdaq listing status. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given one hundred and eighty (180) calendar days, or until January 10, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before January 10, 2025, the bid price of the Company's common shares closes at $1.00 per share or more for a minimum of ten (10) consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with the Minimum Bid Price Requirement by January 10, 2025, the Company may be afforded a second one hundred and eighty (180) calendar day period to regain compliance. The Company intends to monitor the closing bid price of its common shares and may, if appropriate, consider available options to regain compliance with the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be a

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On July 19, 2024, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. In accordance with General Instruction B.2 of Form 8-K, the information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit No. Description of Exhibit 99.1 Press Release dated July 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Aptose Biosciences Inc. Date: July 19, 2024 By: /s/ Fletcher Payne Fletcher Payne Senior Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR