Aptose Biosciences Inc (APTO) Cotización

Well....a Phase III push for Tus is on the back burner again. First the company decides to go it alone but can't decide on a dosage. Then it wants to partner with a 2nd party.......and now a 3rd. Comments, anyone?

In some .38s looks bottomy typical hedgie beat down bio

APTO new 52=week low

APTO new 52 week low

Another reverse split seems inevitable. The cash infusion, hopefully, will hasten the company to eventually reach a Phase III status on Tusp sometime during my lifetime.

Bought some AH Friday. What a huge mistake.
Looks like today it will retrace back to $0.50 or lower.
Oh well.

APTO.....................................https://stockcharts.com/h-sc/ui?s=APTO&p=W&b=5&g=0&id=p86431144783

Buy

I’m in

APTO new 52 week low

APTO new 52 week low

True to form, no revenue projections for the foreseeable future has relegated APTO to a pre-reverse split value of $.05.

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Link
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APTO new 52 week low

Abstracts for EHA presentations are available. Title of one of two Tuspetinib abstracts is "SAFETY AND EFFICACY OF TUSPETINIB AS MONOTHERAPY ANDCOMBINED WITH VENETOCLAX IN A PHASE 1/2 TRIAL OF PATIENTS WITHRELAPSED OR REFRACTORY (R/R) ACUTE MYELOID LEUKEMIA (AML)". From the abstract: Objective responses were observed (overall CRc=16.9%) in pts receiving 80 mg TUS/400 mg VEN: FLT3-WT(n=49, CRc:14.3%), FLT3-MUT (n=15, CRc: 26.7%) including pts with prior FLT3i treatment (n=12, CRc=33.3%),prior VEN treated (n=48, CRc=16.7%), VEN-naïve (n=17, CRc= 17.6%), RAS-mutated (n=11, CRc=9.1%), andTP53 mutated (n=17, CRc=17.6%) pts. No objective responses were observed at 40mg TUS with VEN,indicating a dose-related response.

A new corporate presentation has been issued. It has updated clinical data with Tus/Ven doublet obtained in 60 evaluable patients. Previous analysis presented at ASH was done in 36 patients. Interesting, they show only waterfall plot on slide 16, no tables with all nuances. I manually counted all CRc there and ended up with number 11. So, it gives a CRc rate of 11/60, or 18%. In ASH presentation it was 9/36, or 25%. I think 18% is too low for evaluable population. Looks like Tus is not so powerful drug to be used as a single agent or in combination with Ven in R/R patients. Therefore, Aptose has no other choice but to run a triplet trial hoping for more favorable results.

Hi tartia. I sent you a message on the tcon board: Hi Tartia,
I have no idea how this is possible. I guess its dead now. What do you think?

20% probability of success
Published 03/27/2024, 05:28 PM
On Wednesday, Jones Trading adjusted its outlook on Aptose Biosciences (NASDAQ:APTO), lowering the price target to $5 from the previous $12, while maintaining a Buy rating on the company's stock. The adjustment comes as Aptose Biosciences shifts its development focus towards a new drug combination for treating Acute Myeloid Leukemia (AML).

The firm highlighted that Aptose's immediate strategy will concentrate on a triplet combination therapy involving tuspetinib, venetoclax, and HMA for first-line AML treatment. A pilot study for this combination is slated to begin in the summer, with initial findings expected to be presented at the American Society of Hematology (ASH) conference.

Meanwhile, the development for relapsed/refractory AML has been paused to improve strategic positioning, with data to be shared at the European Hematology Association (EHA) 2024 conference.

Jones Trading noted that if Aptose demonstrates clear clinical benefits in the first-line setting, it may lead to enhanced business development opportunities as compared to the relapsed/refractory AML setting. Still, the firm also pointed out that a capital overhang is a significant pressure point for both the stock and its clinical development progress.

The company's current cash position stands at $18.6 million, which is expected to fund operations through August 2024. Jones Trading has updated its financial model to reflect the new strategic direction towards first-line AML treatment, estimating unadjusted peak sales of approximately $250 million, assuming a 20% probability of success and a 40% market penetration among patients unfit for intensive chemotherapy.

In light of these developments and other minor changes across the model, Jones Trading reiterated its Buy rating but reduced the price target for Aptose Biosciences to $5. The firm believes that despite the lowered target, the company's stock remains a positive investment opportunity.
https://www.investing.com/news/company-news/aptose-biosciences-target-cut-maintains-buy-rating-on-new-drug-development-93CH-3355850

Asking ourselves the obvious question, is APTO any closer to commercialization of product? My answer is NO, and I imagine yet another reverse split will be on the horizon in a year. Dilutions will take the stock below $1.00 again without any announcements of a stand-alone Phase 3 test anywhere......IMHO.

Not sure that increase in plasma concentration from 1 uM to 2-3 uM will help much. They don't report responses in 11 new AML patients they studied. Most disappointing is that they stopped developing Tus/Ven doublet as potentially registrational combination. They have good data with Flt3mut patients and now instead of working in this direction, they offer you to focus on triple combination project for which they don't have any preliminary data. A lousy strategy and Rice is a lousy leader.

I was very happy to see that Lux is still alive. I don't think Aptose has the resources to develop it at this time. It's a shame. They really squandered this opportunity. In any event it is news that will keep my interest in Aptose alive. I haven't listened to the cc yet. They still have a huge $ problem and I think Hanmi is calling the shots.

Here is what Bejar said at ASH in December, “Brisk patient enrollment in our APTIVATE trial has led to a fast-growing database that includes many more patients at various stages of treatment. We look forward to reporting our next set of data in the first quarter of 2024.” I think, it should happen at earing call. Last chance to impress investors?

APTO under $2

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I still hold a speculative position in TCON. I am expecting binary news before EOM. Out of 46 pts. they had 4 responses by BICR and 7 by Investigator review. It is right on the edge of meeting the target. If met I see $1+ immediately, it not perhaps 10 cents immediately. If you want to discuss, let's do so on the Ihub TCON board.

I am watching a painful demise here for APTO.

Hi Tartia,
Are you still in TCON? I was thinking maybe they can actually indeed reach the 11.25% by BICR. Since beginning of 2023 thy are dosing with the double dose at 600. More data from that group could actually turn the needle. What do you think?
Greetings

APTO new 52 week lo

Unfortunately, I believe we have already seen a Hanmi takeover. They are just interested in TUS.

I think our only hope is a Hamni takeover.

This is what happens after reverse splits when there is no perceived improvement to the business plan........let alone revenues

APTO new 52 week low

I have been rotating from APTO primarily into VINC over the past month. Also holding VSTM and ONCT.

Some thoughts on Rice.
Rice has an interesting career. “He served as Head of the Laboratory of Antiviral Drug Mechanisms and Manager of the HIV Clinical Interface Laboratory for the National Cancer Institute (NCI), National Institutes of Health from 1992 to 1998. In this position, Dr. Rice directed the activities of several projects targeting new ways to treat HIV and other infectious diseases. From 1989 to 1992, he was professor of Pediatric Hematology and Oncology at Emory University School of Medicine, where he built a program to identify new molecular structures as antiviral targets”. So, he was in hematology/oncology, but it was not related to oncology. Then, from Aug 1998 to Aug 2003 he worked as a CEO of Achillion Pharmaceuticals, an anti-infective pharmaceutical company. Under his leadership no drug was approved. From 2003 to 2013 he served as a CEO of Cylene Pharmaceuticals. The company was working on oral CK2 protein kinase inhibitor, CX-4945, in patients with advanced solid tumors, or multiple myeloma. This drug is still in clinical trials, not even close to FDA approval. Their second drug was Quarfloxin, a selective binder for MYC GQ structure. Is it related to APTO-253? Anyway, later quarfloxin was discarded due to its poor bioavailability. Isn’t it a familiar theme? And from 2013 to the present, Rice has been a CEO of Lorus/Aptose Biosciences. The result of his work as a leader of Aptose is two failed drugs, APTO-253 and Luxeptinib. Point is that during his very long career in biotech industry as a CEO, Rice was not able to bring any drug to the market. I hope Tuspetinib is his last chance.

Would you like to share your greener pastures?

Hello All. I have not posted here in a while but have continued to follow the discussions. As always, thank you Decaf for the information you share.

After serious deliberation I decided it was time to begin liquidating my APTO shares. I have been selling for the past month. There is no ONE reason. It is a cumulation of factors. I feel that Rice has lost his credibility and APTO will struggle for the foreseeable future. I will continue to monitor and may buy back shares at a later date.
On to greener pasteurs.

Thanks decaf. Sounds like a good backup plan.

In recently posted Hanmi 2024 1Q IR presentation, you can see Tuspetinib data on slide 18. Nothing new there but you have an impression that it is their own data. If Aptose needs a partner to start triplet in 1st line patients, Hanmi would be the best candidate.
https://www.hanmipharm.com/file/admin/ir/1707107587558.pdf

I agree and yes I still own shares (unfortunately).

Hamni seems to have confidence in the drug. They can’t do any worse. Do you still own any shares? tia

No, it is not a solid backup plan. This company is a disaster, totally mismanged rersources and did not execute on the drugs they have or had.

Thanks decaf. Sounds like a solid backup plan. Hanmi definitely has the resources to finish the job.

It looks like Aptose can replace their curent employees with Koreans and Hanmi will pay them salary, bonuses etc. Is it a kind of takeover? Let's start from Rice.

From latest 8-K. Very interesting. What is a Hanmi's purpose?
"Hanmi will have the right to designate for employment one or more individuals that are legally able to work in the United States or Canada (each, an “Hanmi Nominee”) to a position or positions within Aptose in applicable areas based on each Hanmi Nominee’s skills, education and experience. The parties agreed that the Hanmi Nominee shall be subject to Aptose’s usual employment rules, practices, policies, evaluation procedures, as amended from time to time and Aptose shall retain the right, in its sole discretion, to terminate such Hanmi Nominee’s appointment with Aptose for violations of Aptose’s employment rules, practices, policies and procedures. The parties also agreed that the Hanmi Nominee shall be entitled to salary, bonus, vacation, incentive payments and bonuses, expenses, allowances and any applicable benefits in amounts and to the extent consistent with employees of Aptose serving or having recently served in a similar capacity with Aptose with such amounts to be reimbursed to Aptose by Hanmi. In the event that a visa or other permit is required to be obtained to permit the Hanmi Nominee to work in the United States or Canada the parties agreed that Aptose would use its commercially reasonable efforts to assist the Hanmi Nominee with obtaining such visa or permit. The parties agreed that upon the nomination of the Hanmi Nominee that the parties would enter into a separate service agreement to outline the specific terms and conditions of the Hanmi Nominee’s appointment".

Is anyone surprised? The company has a perpetual green light to nowhere.

APTO new 52 week low

What a piece of crap company. Total loss!

On page 7 under Key findings: "We are seeking a collaboration partner to study TUS as part of a TUS/VEN/HMA triplet in 1L newly diagnosed AML patients unfit for chemotherapy with or without FLT3 mutations".

How about a salary cut!?!?

"We expect to revise our current development as follows. Assuming the net proceeds from this offering and our existing cash, cash equivalents and short-term investments, a net proceeds from the concurrent private placement offering, a committed equity facility, and ATM we plan to, (i) complete our ongoing APTIVATE clinical trial studying TUS and TUS/VEN, (ii) pause enrollment in the LUX G3 study and (iii) evaluate other costs reductions in general and administrative expenses."
Not a word about registrational trial?

Thanks