Aptose Biosciences Enters Material Definitive Agreement
Ticker: APTOF · Form: 8-K · Filed: Aug 30, 2024 · CIK: 882361
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, corporate-history
TL;DR
Aptose Biosciences just signed a big deal, creating a new financial obligation. Keep an eye on this.
AI Summary
On August 27, 2024, Aptose Biosciences Inc. entered into a material definitive agreement, creating a direct financial obligation. The company, formerly known as Lorus Therapeutics Inc. and Imutec Pharma Inc., is involved in the biological products sector.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Aptose Biosciences, which could impact its future operations and financial health.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement and creating a financial obligation can introduce new risks related to the terms of the agreement and the company's ability to meet its obligations.
Key Players & Entities
- Aptose Biosciences Inc. (company) — Filer
- August 27, 2024 (date) — Date of earliest event reported
- Lorus Therapeutics Inc. (company) — Former company name
- Imutec Pharma Inc (company) — Former company name
FAQ
What type of material definitive agreement did Aptose Biosciences Inc. enter into?
The filing states that Aptose Biosciences Inc. entered into a material definitive agreement, creating a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details of the agreement are not provided in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on August 27, 2024.
What are the former names of Aptose Biosciences Inc. mentioned in the filing?
The filing mentions that Aptose Biosciences Inc. was formerly known as Lorus Therapeutics Inc. and prior to that, Imutec Pharma Inc.
What is the Standard Industrial Classification (SIC) code for Aptose Biosciences Inc.?
The SIC code for Aptose Biosciences Inc. is 2836, which corresponds to Biological Products (No Diagnostic Substances).
What is the business address of Aptose Biosciences Inc.?
The business address of Aptose Biosciences Inc. is 66 Wellington Street West, Suite 5300, TD Bank Tower Box 48, Toronto, A6, M5K 1E6.
Filing Stats: 815 words · 3 min read · ~3 pages · Grade level 10.1 · Accepted 2024-08-30 16:35:07
Key Financial Figures
- $10,000,000 — der agreed to lend to the Company up to $10,000,000 (the " Loan "). The Loan is secured and
Filing Documents
- f8k_083024.htm (8-K) — 17KB
- exh_991.htm (EX-99.1) — 6KB
- 0001171843-24-005003.txt ( ) — 222KB
- 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_083024_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On August 27, 2024, Aptose Biosciences Inc. (the " Company ") entered into a facility agreement (the " Agreement ") among the Company and Hanmi Pharmaceutical Co., Ltd. (the " Lender ") pursuant to which the Lender agreed to lend to the Company up to $10,000,000 (the " Loan "). The Loan is secured and repayable by the Company in full on January 31, 2027 (the " Maturity Date "), and may be prepaid without penalty at any time. The Loan bears interest at six percent per annum, payable in arrears every three months beginning on September 30, 2024 until the Maturity Date. If the Company and Lender amend the license agreement dated November 4, 2021 between Lender and the Company, or enter into a collaboration agreement or (the " Future Collaboration Agreement "), the Loan principal and accrued and unpaid interest under the Agreement (the " Converted Loan Amount ") will automatically be converted to the Lender's prepayment of future milestone obligations under the Future Collaboration Agreement. Upon conversion, the Converted Loan Amount will be deemed fully paid and satisfied under the Agreement, and the future milestone obligations by the Lender under the Future Collaboration Agreement will be deemed prepaid by the Lender up to the amount of the Converted Loan Amount. The foregoing summary of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the Agreement which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending September 30, 2024. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On August 30, 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. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated August 30, 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: August 30, 2024 By: /s/ William G. Rice, Ph.D. William G. Rice, Ph.D. Chairman, President, and Chief Executive Officer