Aptose Biosciences closed an $8 million public offering, selling 40 million shares and 20 million warrants for funding.
Quiver AI Summary
Aptose Biosciences Inc. announced the successful completion of a public offering, raising $8 million by selling 40 million common shares at $0.20 each, along with warrants to purchase an additional 20 million shares at $0.25. The offering attracted participation from the company's CEO and various healthcare investors. The funds will be used for working capital and general corporate purposes. A.G.P./Alliance Global Partners acted as the sole placement agent for this transaction, which was conducted under a previously filed registration statement with the SEC. The company focuses on developing precision oncology treatments targeting hematologic malignancies, with a notable drug in their pipeline, tuspetinib, showing promise in treating acute myeloid leukemia.
Potential Positives
- Aptose has successfully closed a public offering, raising $8 million in gross proceeds, which can be utilized for working capital and general corporate purposes.
- The offering included participation from the CEO and both existing and new healthcare-focused investors, indicating strong confidence in the company's future prospects.
- The newly acquired funds will support Aptose's efforts in developing its pipeline of precision oncology therapies, addressing unmet medical needs in hematologic malignancies.
- The exercise of warrants at $0.25 per share over the next five years could provide additional capital for the company as its projects progress.
Potential Negatives
- The company raised capital at a low share price of $0.20, which may indicate weakness in its stock performance and investor confidence.
- Despite raising $8 million, the proceeds may not be sufficient to sustain operations and fund ongoing research and development of their oncology products.
- The issuance of warrants at an exercise price of $0.25 could dilute existing shareholders' equity if exercised, potentially impacting share value negatively.
FAQ
What is Aptose Biosciences' latest funding round?
Aptose Biosciences recently closed a public offering raising $8 million by selling 40 million common shares at $0.20 each.
Who participated in the offering?
The CEO and existing and new healthcare-focused investors participated in the offering.
What is the purpose of the proceeds from the offering?
The proceeds will be used for working capital and general corporate purposes.
Who is the placement agent for the offering?
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
Where can I find the final prospectus for the offering?
The final prospectus can be obtained on the SEC's website or from A.G.P./Alliance Global Partners.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$APTO Hedge Fund Activity
We have seen 8 institutional investors add shares of $APTO stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 175,000 shares (+10.2%) to their portfolio in Q3 2024
- SIGMA PLANNING CORP added 167,282 shares (+71.3%) to their portfolio in Q3 2024
- UBS GROUP AG added 133,476 shares (+inf%) to their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 30,427 shares (+inf%) to their portfolio in Q3 2024
- ANNANDALE CAPITAL, LLC added 26,666 shares (+inf%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 25,691 shares (-100.0%) from their portfolio in Q2 2024
- TD WATERHOUSE CANADA INC. removed 6,661 shares (-90.7%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN DIEGO and TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral targeted agents to treat hematologic malignancies, today announced the closing of its previously announced "reasonable best efforts" public offering with participation from the CEO and existing and new healthcare focused investors for the purchase and sale of 40,000,000 common shares at a price of $0.20 per share and warrants to purchase up to 20,000,000 common shares (the “Offering”). The warrants have an exercise price of $0.25 per share, are exercisable immediately and will expire five years from the issuance date. The Company received aggregate gross proceeds of $8 million, before deducting placement agent fees and other offering expenses, and intends to use the net proceeds from this Offering for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.
The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-281201) previously filed with the Securities and Exchange Commission ("SEC") on August 2, 2024, as amended, which was declared effective on November 21, 2024. This Offering was made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained on the SEC's website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected] .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Aptose
Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s lead clinical-stage, oral kinase inhibitor tuspetinib (TUS) has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML), and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com .
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws, including, but not limited to, statements relating to the intended use of proceeds and statements relating to the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “hope” “should”, “would”, “may”, “potential” and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant market and other conditions, business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market and economic conditions; unexpected manufacturing defects and other risks detailed from time-to-time in our ongoing current reports, quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
For further information, please contact:
Aptose Biosciences Inc. | |
Susan Pietropaolo | |
Corporate Communications & Investor Relations | |
201-923-2049 | |
[email protected] |