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Saturday, June 19, 2021

Here is why Aptose Biosciences Inc. (APTO) stock fluctuated?

Aptose Biosciences Inc. (APTO) stock price faced fluctuation on Tuesday, March 23, 2021. It lost 5.90% in the morning session but then gained 47.14% in the extended trading session as the company announced its financial results.


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Q4 financial results

The APTO suffered a net loss of $14.7million or $0.17 per share for the quarter ended December 31, 2020, compared to $7.7 million or $0.13 per sharefor the quarter ended December 31, 2019.

Full-year 2020 Highlights

  • The net loss for the year ended December 31, 2020, was $55.2 million ($0.67 per share), compared to $26.3 million ($0.52 per share) for the year ended December 31, 2019.
  • As of December 31, 2020, total cash and cash equivalents and investments were $122.4 million.
  • R&D expenses for the full year 2020 were $29.3 million compared to $16.8 million for the prior year.
  • The APTO spent $26.5 million in General and Administrative expenses for the year ended December 31, 2020, compared with $10.0 million for the comparative period in 2019

Corporate updates

  • The APTO, Executive Vice President and Chief Financial Officer, Gregory Chow is resigning and will be joining a private Biopharma company.
  • On March 16, 2021, the APTO appointed Dr Rice as Chief Accounting Officer and JotinMarango, M.D., PhD, Chief Business Officer will assume Chief Financial Officer duties until a permanent replacement is announced.

About APTO

Aptose Biosciences is a science-driven clinical-stage biotechnology company developing first-in-class targeted agents to address the unmet clinical need in chronic lymphocytic leukemia (CLL), non-Hodgkin’s lymphoma (NHL), acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), and other hematologic malignancies. APTO was founded in 1986 and its headquarter is in Toronto, Canada. The Company has two clinical-stage investigational products for hematologic malignancies:

Conclusion:  it is very hard to predict the future stock price of APTO as the company’s recent financial figures are not very positive for the investors but their pipeline products can bring major changes in the future.

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