Aptose Reports First Quarter 2025 Results

Core Insights - Aptose Biosciences is advancing its TUSCANY clinical trial of tuspetinib in combination with venetoclax and azacitidine for newly diagnosed acute myeloid leukemia (AML), showing promising safety and efficacy data [2][3][4] - The company reported a net loss of $5.5 million for Q1 2025, a decrease from $9.6 million in Q1 2024, indicating improved financial performance [8][14] - Aptose's common shares are now listed on the OTC Markets under the ticker "APTOF," enhancing accessibility for U.S. investors [4] Clinical Trial Progress - The TUSCANY trial has shown that patients receiving both 40 mg and 80 mg doses of tuspetinib achieved complete remissions, with no safety concerns reported [2][3][4] - In the first cohort, three patients on the 40 mg dose achieved complete remissions, while in the second cohort, all three patients on the 80 mg dose also achieved complete remissions [3][4] - The trial aims to create a mutation-agnostic triplet frontline therapy for AML patients, including those without FLT3 mutations [3] Financial Performance - Research and development expenses decreased to $2.3 million in Q1 2025 from $6.4 million in Q1 2024, primarily due to reduced clinical trial activities and lower personnel costs [8][12][15] - The company reported total cash, cash equivalents, and restricted cash of $4.7 million as of March 31, 2025, with expectations to fund operations until the end of May 2025 [14] - The net loss per share for Q1 2025 was $2.61, compared to $22.02 in Q1 2024, reflecting a significant reduction in losses [8] Corporate Developments - Aptose is preparing for upcoming milestones, including reporting maturing data from the TUSCANY trial at the European Hematology Association (EHA) meeting and the American Society of Hematology (ASH) conference [5][6][11] - The company has implemented financing and cost reduction efforts to extend its cash runway, indicating proactive management of financial resources [14]