Aptose Biosciences(APTO) - 2025 Q3 - Quarterly Results

Financial Performance - For the third quarter ended September 30, 2025, Aptose reported a net loss of $5.1 million, a decrease of $1.8 million compared to a net loss of $7.0 million for the same period in 2024[10] - The total operating expenses for the third quarter were $4.9 million, compared to $7.0 million for the same period in 2024[10] - The accumulated deficit as of September 30, 2025, was $558.7 million, an increase from $541.0 million at the end of 2024[14] - Aptose Biosciences reported a net loss of $5.2 million for the quarter, compared to a net loss of $4.8 million in the same quarter last year, reflecting a 8.3% increase in losses year-over-year[23] Research and Development - Research and development expenses for the quarter were $2.2 million, down from $4.7 million in the comparable period in 2024, primarily due to reduced activity in the APTIVATE clinical trial[15][18] - The program costs for tuspetinib were $1.4 million for the quarter ended September 30, 2025, compared to $4.1 million for the same period in 2024[18] - The company is committed to advancing its research in precision medicine, with a focus on biomarker-driven therapies[23] - Aptose is advancing its lead drug candidate, APTO-253, into a Phase 1b clinical trial, with initial data expected in Q2 2024[23] Cash and Financing - As of September 30, 2025, the company had cash, cash equivalents, and restricted cash equivalents totaling $1.6 million, down from $6.7 million at the end of 2024[12][17] - The company is actively pursuing financing and cost reduction efforts to extend its cash runway due to insufficient cash to fund operations[17] - The company ended the quarter with cash and cash equivalents of $30.1 million, which is expected to fund operations into the second half of 2024[23] Clinical Trials and Data - The company achieved complete response (CR) or complete response with partial hematologic recovery (CRh) in 100% of patients (6/6) treated at the higher dose levels of 80 mg and 120 mg of tuspetinib in combination with venetoclax and azacitidine[3][4] - The company reported a 15% increase in patient enrollment for its clinical trials compared to the previous quarter[23] - The company plans to present updated data from the TUSCANY trial at the American Society of Hematology (ASH) Annual Meeting scheduled for December 6-9, 2025[4] Strategic Initiatives - The company has initiated a strategic review of its pipeline to prioritize assets with the highest potential for value creation[23] - Aptose is exploring partnerships to enhance its research capabilities and accelerate the development of its drug candidates[23] - Aptose plans to expand its market presence by targeting additional oncology indications for its drug candidates[23] - The company is focused on cost management strategies, aiming to reduce operational expenses by approximately 10% in the upcoming fiscal year[23] - Aptose anticipates revenue generation from potential licensing agreements in the next 12 months[23]