Tue, May 14, 9:13 PM (220 days ago)
Aptose Biosciences Inc. reported a net loss of $9.6 million for Q1 2024, a decrease from $13.7 million in Q1 2023. The company’s cash and cash equivalents stood at $7.3 million, with total assets of $12.8 million. Research and development expenses dropped to $6.4 million from $8.8 million, primarily due to reduced activity in the APTIVATE clinical trial and lower manufacturing costs. General and administrative expenses also fell to $3.3 million from $5.3 million, attributed to lower professional fees and stock-based compensation. Aptose raised $11.8 million through equity financing in Q1 2024. The firm faces substantial doubt about its ability to continue as a going concern beyond August 2024 without additional financing. Management is exploring various funding options to support future operations.