Aptose Closes $4.43M At-the-Market Registered Direct Offering

Aptose Biosciences Inc., an innovative clinical-stage biotechnology company focusing on precision oncology, has successfully concluded a significant financial transaction. The company, listed on NASDAQ as APTO and on the Toronto Stock Exchange as APS, completed a registered direct offering under Nasdaq rules, securing approximately $4.43 million in gross proceeds. This offering involved 3,855,000 of its common shares priced at $1.15 each.

In conjunction with the direct offering, Aptose also conducted a private placement, issuing unregistered series A and B warrants to purchase an equal number of common shares at the same exercise price of $1.15 per share. The series A warrants will expire five years from the date of shareholder approval, while the series B warrants will expire eighteen months after the same approval date. These warrants become exercisable once shareholder approval is obtained regarding the issuance of shares upon exercise.

H.C. Wainwright & Co. played a pivotal role as the exclusive placement agent in this financial endeavor. The net proceeds from this offering are intended to support Aptose's working capital and general corporate purposes, furthering the company’s mission in the oncology sector.

The shares offered in the direct offering were registered under a "shelf" registration statement on Form S-3, initially filed with the SEC in October 2022 and declared effective later that month. The offering was conducted solely by means of a prospectus, with supplementary documentation filed with the SEC and available on their website.

Aptose's pipeline includes promising small molecule therapeutics targeting hematologic malignancies. One of its lead products, tuspetinib, is an oral kinase inhibitor for treating relapsed or refractory acute myeloid leukemia (AML). It has shown potential as both a standalone treatment and in combination therapies and is being developed as a frontline triplet therapy for newly diagnosed AML. Another key product, luxeptinib, is also under clinical development, targeting both lymphoid and myeloid malignancies.

The company's commitment to developing precision medicines aims to address critical unmet medical needs in oncology. Aptose's strategy includes creating therapies that work effectively as single agents and in combination with other treatments, minimizing overlapping toxicities.

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