Aptose Biosciences Inc.
APTOF evidence brief
What we can confirm
- Market Cap:
- $4.3M
What it means
What to watch
Prepared research question
What matters most for APTOF—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · APTOF
Aptose Biosciences Inc. is a clinical-stage precision oncology company developing tuspetinib, a novel kinase inhibitor, for frontline combination therapy in newly diagnosed acute myeloid leukemia (AML), but faces imminent financial distress.
Key risk: Imminent bankruptcy risk
Market Cap
$4.3M
Cash Runway
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Lead Asset
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Next Catalyst
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Financial data as of Mar 31, 2026.
Tracking 1 clinical trial for Aptose Biosciences Inc..
Aptose Biosciences Inc. is a clinical-stage precision oncology company developing tuspetinib, a novel kinase inhibitor, for frontline combination therapy in newly diagnosed acute myeloid leukemia (AML), but faces imminent financial distress.
- Aptose's lead program is tuspetinib (TUS), being developed for frontline combination therapy in newly diagnosed AML patients [sec_mda · as of 2026-03-31].
- The FDA granted orphan drug designation to tuspetinib for the treatment of AML in October 2018 [sec_mda · as of 2026-03-31].
- As of 2026-03-31, the company reported total revenue of $0.0M, net income of -$7.6M, and shareholders' equity of -$34.7M [sec].
- The company has disclosed a risk of imminent bankruptcy and needs substantial funding immediately to continue operations [sec_mda · as of 2026-05-13].
- Aptose is continuing a Phase 1/2 clinical trial (TUSCANY) evaluating tuspetinib in combination with venetoclax and azacitidine in newly diagnosed AML patients [sec_mda · as of 2026-03-31].
What works
- Tuspetinib has demonstrated an excellent safety profile and retains nanomolar potency against AML cells with resistance mechanisms to venetoclax, positioning it as a potential component of triplet therapy [sec_mda · as of 2026-03-31].
- The company completed a successful End of Phase 1 Meeting with the US FDA for tuspetinib, with all development paths remaining open, including a single-arm accelerated approval path [sec_mda · as of 2026-03-31].
- The National Cancer Institute (NCI) has selected the TUSCANY study for presentation at the 2025 ASH Annual Meeting, indicating external scientific interest [news · published 2025-11-03].
What to weigh
- Aptose has disclosed a risk of imminent bankruptcy and states it needs substantial funding immediately to continue operations [sec_mda · as of 2026-05-13].
- The company has no revenue and a negative shareholders' equity of -$34.7M as of 2026-03-31, reflecting a structurally challenged financial position [sec].
- Aptose has maximum obligations for clinical development and global regulatory milestones totaling $64.5 million for the first potential indication of tuspetinib, with additional sales-based milestones and royalty payments [sec_mda · as of 2026-03-31].
- The company's suppliers may choose to stop working on programs or change contract terms, and there are risks to maintaining an adequate supply of clinical drug product [sec_mda · as of 2026-05-13].
From the filings
Quoted directly from source documents.
Risk of imminent bankruptcy
“our risk of imminent bankruptcy;”
SEC MD&A · May 13, 2026
Tuspetinib orphan drug designation
“The FDA granted orphan drug designation to tuspetinib for the treatment of patients with AML in October 2018.”
SEC MD&A · March 31, 2026
Successful End of Phase 1 Meeting with FDA
“Aptose also reported completion of a successful End of Phase 1 Meeting with the US FDA for tuspetinib, that a monotherapy RP2D was selected as 80mg daily, and that all development paths remain open, including the single arm accelerated path.”
SEC MD&A · March 31, 2026
Need for immediate funding
“we need to obtain substantial funding immediately in order to continue operations and our exploration of strategic alternatives;”
SEC MD&A · May 13, 2026
Risks & what to watch (4)›
Key risks
- Imminent bankruptcy risk — Company has disclosed a risk of imminent bankruptcy and needs substantial funding immediately to continue operations [sec_mda · as of 2026-05-13].
- Negative shareholders' equity — Shareholders' equity is -$34.7M as of 2026-03-31, indicating liabilities exceed assets [sec].
- Supply chain vulnerability — Suppliers may stop working or change terms, and there are risks to maintaining clinical drug product supply [sec_mda · as of 2026-05-13].
- Milestone payment obligations — Up to $64.5M in development milestones due for first indication, plus sales milestones and royalties [sec_mda · as of 2026-03-31].
What to watch
- Ability to secure additional financing to avoid bankruptcy and continue operations [sec_mda · as of 2026-05-13].
- Clinical data from the TUSCANY trial, including CR/CRh and MRD negativity rates, expected over the next 6 to 12 months [sec_mda · as of 2026-03-31].
- Presentation of TUSCANY study data at the 2025 ASH Annual Meeting [news · published 2025-11-03].
- Progress of the arrangement to continue from the Canada Business Corporations Act to the Business Corporations Act (Alberta), expected to close in first half of 2026 [sec_mda · as of 2026-03-31].
Sources: News · SEC MD&A · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
4
Total value held
$40K
| Holder | Shares | Value |
|---|---|---|
| drw securities, llc | 19,761 | $33K |
| gleason group, inc. | 4,206 | $7K |
| farther finance advisors, llc | 10 | $17 |
| caldwell sutter capital, inc. | 2 | $3 |
Short Interest
as of May 20, 2026- % of float
- 2.6%
- Days to cover
- 0.1
- Shares short
- 53,154
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
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Frequently asked questions
What is the AI investment thesis for Aptose Biosciences Inc.?
Aptose Biosciences Inc. is a clinical-stage precision oncology company developing tuspetinib, a novel kinase inhibitor, for frontline combination therapy in newly diagnosed acute myeloid leukemia (AML), but faces imminent financial distress.
Who is the CEO of Aptose Biosciences Inc.?
Dr. William G. Rice Ph.D. is the chief executive officer of Aptose Biosciences Inc. (APTOF).
Where is Aptose Biosciences Inc. headquartered?
Aptose Biosciences Inc. (APTOF) is headquartered in Toronto, ON, Canada.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.