The following is a summary of the Aptose Biosciences Inc. (APTO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Aptose Biosciences reported a net loss of $9.6 million, or a $0.73 loss per share for Q1 2024, improving from prior year's Q1 loss of $13.7 million or a $2.22 loss per share.

• The company held approximately $9.3 million in cash and cash equivalents at the end of Q1 2024.

• Research and development expenses for Q1 2024 were approximately $6.4 million, compared to $8.8 million in Q1 2023.

• General and administrative expenses for Q1 2024 were $3.3 million, reducing by $2 million compared to the same period in 2023.

• The total outstanding share count is 16,309,393 shares as of May 14.

Business Progress:

• Aptose Biosciences is developing Tuspetinib, its lead clinical asset, as a part of a triple therapy for treating new AML patients. Phase I/II trials reported promising safety profiles.

• A protocol for the TUS-VEN-HMA triple combination therapy has been submitted to the FDA, has obtained the fast track status, and received orphan drug designation. Clinical trials for new patients are planned for later in the year.

• Aptose reported positive results from single-agent activity studies and shown efficacy in combination with venetoclax in blast reduction for relapsed/refractory patients.

• The company additionally aims for Tuspetinib to become a new standard-of-care therapy for newly diagnosed AML patients, addressing the urgent need for effective and safe treatment against AML.

• Aptose regained NASDAQ listing compliance and has outlined major milestones for 2024 and 2025, including reporting results for single and double agent activities, initiating the dosing of newly diagnosed patients in triplet studies, and completing enrollment of the study in the first half of 2025.

More details: Aptose Biosciences IR

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