Core Points - Aptose Biosciences Inc. has secured a short-term cash advance from Dr. William G. Rice to support near-term obligations and advance its clinical-stage oral kinase inhibitor, tuspetinib [1][2] - The cash advance is non-interest bearing, unsecured, and can be repaid at any time without penalty [2] - The advance is classified as a related-party transaction under Canadian securities laws, with exemptions from formal valuation and minority shareholder approval [3] - Without additional funding, Aptose may face insufficient financial resources to continue operations, potentially leading to insolvency proceedings [4] - Ms. Carol Ashe has resigned as a director of the Company, and the Company expresses gratitude for her contributions [5] Company Overview - Aptose Biosciences is a clinical-stage biotechnology company focused on developing precision medicines for oncology, particularly in hematology [6] - The lead product, tuspetinib, has shown efficacy as a monotherapy and in combination therapy for patients with relapsed or refractory acute myeloid leukemia (AML) and is being developed as a frontline triplet therapy for newly diagnosed AML [6]
Aptose Provides Corporate Updates
Globenewswire·2025-06-17 11:45