Aptose Biosciences Receives Notice from Nasdaq Regarding Minimum Bid Price Requirement – Special Shareholders’ Meeting Scheduled for January 27

On January 14, 2025, Aptose Biosciences Inc. (NASDAQ: APTO) received a letter from the Nasdaq Listing Qualifications Department, notifying the company that for the last thirty consecutive business days, the closing bid price for its common shares fell below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market.

The company has until March 31, 2025, to regain compliance with the Minimum Bid Price Requirement. In response, Aptose Biosciences has scheduled a Special Shareholders’ Meeting for January 27, 2025, aiming to seek approval for a reverse stock split to potentially increase the company’s stock price.

While the company plans to monitor the closing bid price and explore available options to meet the compliance requirements, Aptose Biosciences stated that there is no guarantee of regaining compliance or meeting other Nasdaq Listing Rules.

The listing of Aptose Biosciences’ common shares on the Toronto Stock Exchange (TSX) under the symbol “APS” remains unaffected by the Nasdaq listing status. The company will present its plan of compliance to the hearings panel in an effort to address the Nasdaq Minimum Bid Price Requirement.

This information was disclosed in a Form 8-K filing with the Securities and Exchange Commission on January 21, 2025. The report was signed by Fletcher Payne, Senior Vice President and Chief Financial Officer of Aptose Biosciences Inc.

In an embedded Interactive Data File within the report, the company provided additional details regarding the situation and its intended course of action to regain compliance.

For further updates on Aptose Biosciences’ compliance efforts and the outcome of the upcoming Special Shareholders’ Meeting, investors are advised to stay tuned for future announcements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Aptose Biosciences’s 8K filing here.

About Aptose Biosciences

Aptose Biosciences Inc, a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology in Canada. Its lead clinical program is APTO-253, which is a Phase I clinical trial for the treatment of patients with relapsed or refractory hematologic malignancies.