The following is a summary of the Aptose Biosciences Inc. (APTO) Q4 2023 Earnings Call Transcript:
Financial Performance:
In 2023, Aptose Biosciences managed to finance its activities through various sources, such as an ATM facility and a strategic investment by Hanmi Pharmaceutical.
The company closed financings with gross proceeds of $13.7 million in January.
The company ended the year with approximately $9.3 million, with a decrease in cash and investments of $27.7 million compared to December 2022.
The company recorded a net loss of about $51.2 million in 2023, translating into a $7.58 loss per share.
Having completed a financing campaign in January 2024, raising around $13.7 million, it is anticipated that the current resources will fund operations through August 2024.
Aptose raised $7.3 million through financing activities during 2023.
Business Progress:
Aptose's lead agent Tuspetinib, demonstrated powerful anti-leukemic activity and an excellent safety profile. The company plans to prioritize resources towards the TUS/VEN/HMA triplet study for frontline treatment of newly diagnosed AML patients.
Luxeptinib, another Aptose drug has completed patient enrollment and dosing in trials for B-cell malignancy and AML. A new G3 formulation with improved absorption and beter tolerance will be used for future studies.
The company is in ongoing discussions for potential partnerships for the development of tuspetinib. The launch of TUS/VEN/HMA registrational programs is expected in 2025.
Data presentation on single agent and doublet in relapsed/refractory patients at the EHA Conference is expected in June 2024.
The company has 15,706,810 common shares outstanding and 8,332,163 warrants at the end of 2023.
More details: Aptose Biosciences IR
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