Bioscience outfit Aptose (NASDAQ:APTO) stock is experiencing a boost this morning, fueled by the company’s newest research updates and earnings report.
In a Tuesday afternoon conference call, Aptose provided its earnings report. The company, which specializes in developing products to target underlying causes of leukemia and lymphoma, is very positive on the report.
Overall, the company reported a net loss of $14.7 million in Q4 2020, a loss of about 17 cents per share. This compares to Q4 2019’s losses of $7.7 million, or a loss of about 13 cents per share. The loss for the year was $55.2 million, or 67 cents per share, compared to 2019’s losses of $26.3 million, or 52 cents per share.
Executive Vice President Greg Chow is assuaging APTO stock investors who may be tense seeing the losses. He is calling the company’s current circumstances the “best financial and operational condition,” it has ever been in. That is because the company now possesses over two years of funding. Cash and equivalents are up by about $122 million for the company, enough to take it through the first half of 2023.
The real joyous moment for investors in the report is the pipeline update from Aptose regarding its product developments. It is in the midst of three escalating clinical trials, and a breakthrough seems to be rapidly approaching. A major product launch could be in cards soon.
The Bottom Line on APTO Stock
Chiefly, the company’s update on its two luxeptinib trials have been showing promise. The company is escalating dosages in these trials as the drug is demonstrating its anti-cancer capabilities. Namely, tumor reduction and lymphocytosis reducing abilities encourage shareholders. Aptose is also reporting a positive outlook for its third trial drug, APTO-253, in treating broad oncological issues down the line.
All of this great news is leading to rocket-ship moves in APTO stock this morning. The stock is up by over 70% today and seems to be continuing upward.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.