Aptose Biosciences Faces Nasdaq Delisting Warning

TL;DR

Nasdaq warning for Aptose: need $1+ bid price by Oct 28 or get booted.

AI Summary

Aptose Biosciences Inc. announced on October 1, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has been granted a period until October 28, 2024, to regain compliance by meeting the minimum bid price requirement of $1.00 per share.

Why It Matters

Failure to regain compliance could lead to Aptose Biosciences' shares being delisted from the Nasdaq, 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 within the specified timeframe.

Key Numbers

• $1.00 — Minimum Bid Price (Requirement to remain listed on Nasdaq)

Key Players & Entities

• Aptose Biosciences Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Listing Exchange
• October 1, 2024 (date) — Date of Notice
• October 28, 2024 (date) — Compliance Deadline
• $1.00 (dollar_amount) — Minimum Bid Price Requirement

FAQ

Key Financial Figures

• $2,500,000 — oration did not comply with the minimum $2,500,000 stockholders' equity requirement for co

Filing Documents

• f8k_100324.htm (8-K) — 24KB
• 0001171843-24-005511.txt ( ) — 197KB
• apto-20241001.xsd (EX-101.SCH) — 3KB
• apto-20241001_lab.xml (EX-101.LAB) — 33KB
• apto-20241001_pre.xml (EX-101.PRE) — 22KB
• f8k_100324_htm.xml (XML) — 4KB

01

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on April 2, 2024, Aptose Biosciences Inc. (the " Corporation ") received a notice from the Nasdaq Listing Qualifications Department (the " Listing Department ") stating that the Corporation did not comply with the minimum $2,500,000 stockholders' equity requirement for continued listing set forth in Listing Rule 5550(b). On May 17, 2024, the Corporation received an extension until September 30, 2024 to comply with the requirement. As of September 30, 2024, the Corporation had not gained compliance with the requirement. Accordingly, on October 1, 2024, the Corporation received a staff determination letter from the Listing Department stating that the Corporation did not meet the terms of the extension because it did not complete its proposed financing initiatives to regain compliance. The Corporation intends to timely request an appeal and hearing. The hearing request will automatically stay Nasdaq's delisting of the Corporation's common shares pending the Panel's decision. At or prior to the hearing, the Corporation will endeavor to present to Nasdaq information demonstrating that it has regained compliance with the continued listing standards under the Nasdaq Listing Rules, or alternatively a plan to regain compliance and a request for an extension of time to effectuate the plan. Notwithstanding the foregoing, there can be no assurance that the Corporation will regain compliance with the continued listing standards under the Nasdaq Listing Rules, or that the Panel will grant the Corporation an extension of time to regain compliance, in the event the Corporation requests such an extension.

Forward-Looking Statements

Forward-Looking Statements This report contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this report are forward-looking statements. Forward-looking statements contained in this report may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will", "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Corporation's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Corporation's control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those described more fully in the section titled " Risk Factors " of the Corporation's Annual Report on Form 10-K for the year ended December 31, 2023 and the Corporation's other reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Corporation undertakes no duty to update such information except as required under applicable law. 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: October 4, 202

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