APTO - Aptose Biosciences stock falls 6% as net loss widens Y/Y

Aptose Biosciences (APTO -5.9%) stock declined following its Q4 and full year 2021 results. Full year 2021 net loss widened to -$65.35M, compared to net loss of -$55.24M in 2020. The company said the increased net loss was due to $12.5M in license fees paid to Hanmi for development rights of HM43239; a combined increase in program costs and related personnel expenses of ~$4.2M on its luxeptinib development program; and higher cash-based general and administrative expenses of ~$1.5M, and lower finance income of ~$0.4M; offset by a decrease of $8.6M in stock-based compensation expense. Research and development expenses were $45.99M, compared to $29.29M in 2020. As of Dec. 31, 2021 total cash and cash equivalents and investments were $79.1M. The company noted that cash and available capital provide it sufficient resources to fund its operations into Q4 of 2023.

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Aptose Biosciences stock falls 6% as net loss widens Y/Y