Lorus Therapeutics Implements Name Change to Aptose Biosciences
Aptose Biosciences. Inc.
PPS: 1.64 a/o 7/13/2017
Up 0.12 points or 7.89%
Market Value: $23,895,510 a/o July 12, 2017
Outstanding Shares: 15,721,388 a/o Dec 31, 2016
According to Aptoses’ website, Aptose Biosciences is a biotechnical company that looks to find treatments for cancers. These cancers include acute myeloid leukemia (AML), high-risk myelodysplastic syndromes (MDS) and other hematologic malignancies.
From their research, they have discovered that “CG026806 (CG’806) is a highly potent first-in-class pan-FLT3/BTK inhibitor.” This knowledge is aiding their fight against chronic lymphocytic leukemia (CLL), mantle cell lymphoma (MCL), large B cell lymphoma (DLBCL), and more. Aptose also has another program called APTO-253 which is also aiding to treat cancer.
William G. Rice, Ph.D. Chief Executive Officer (CEO)
Daniel D. Von Hoff, M.D., F.A.C.P. Senior Vice President, Medical Affairs
Stephen B. Howell, M.D. Acting Chief Medical Officer
Avanish Vellanki Chief Business Officer (CBO)
Gregory Chow Chief Financial Officer (CFO)
Institutional Ownership 11.11 %
Total Institutional Shares: 2,417,492
No Insider Traders
Possible Float: ~13,303,896
Looking at Aptoses’ income statement, they have a running loss with $0 in revenue. For the first quarter of 2017, the company had a net loss of ~$4,355,000. Also, over the course of the last year, the company has had a net loss of ~$17,910,000. Unless the company can create and sell one of their cures, Aptose will continue to run at a loss. If the company was to sell one of their cures, it comes down to how effective and efficient the drug is. These medicines would help it penetrate a full cancer treatments market. There is the possibility that the drugs and treatments could sell very well, but there is serious doubt that such an event will happen.
Aptoses’ balance statement shows that it has ~11,958,000 in on hand cash Q1 2017. From what we were able to find, the company is gaining on-hand cash from selling company shares to investors. In total, Aptose has a total of ~$12,676,000 in assets for Q1 2017. For accounts payable, Aptose has ~$2,340,000 in current liabilities. For shareholders equity, investors of Aptose have ~$235,869,000 in shares. The accumulated deficit for investors is ~$247,877,000.
On 6/8/2017, the company got rated as neutral by Rodman & Renshaw. Also, analysts rated the stock as a buy with a price target of $9. In forward-looking thoughts, $9 is a very optimistic number to put on a stock that currently doesn’t have any income, and is relying solely on investors. Our forward-looking though suggests that the stock will continue its period of consolidation until either they run out of funds or release a new product. Depending on the event, the price per share will reflect the positive or negative aspects of that event.
On 6/6/2017, the company held an annual meeting of shareholders. During this press release, the voting results for the company’s board of directors were released. Also, the company told shareholders that they displayed CG’806 in a presentation last month in Boston. From the press release, they stated that the product/treatment was performing well during their tests.