Aptose Reports First Quarter 2026 Results

• Aptose Biosciences reported Q1 2026 financial results with a net loss of $7.6 million, an increase from $5.5 million in the prior year period.
• Research and Development expenses rose to $3.6 million, driven by tuspetinib program costs of $2.9 million.
• Cash position stands at $4.1 million as of March 31, 2026, with management noting insufficient cash to fund operations independently without Hanmi advances.
• The acquisition by Hanmi Pharmaceutical Co. Ltd. has been delayed due to pending Korean regulatory approvals; the new target closing date remains May 2026.
• Clinical data from the Phase 1/2 TUSCANY trial (tuspetinib + venetoclax + azacitidine) was selected for an oral presentation at EHA 2026 in June.
• Aptose terminated the exclusive license rights for luxeptinib to CGI Invites Co., Ltd., winding down that program.

• The acquisition terms remain unchanged at C$2.41 per share, representing a 28% premium over the 30-day VWAP of C$1.88.
• The delay in closing was previously announced on April 30, 2026; therefore, this update is not unexpected and does not alter the fundamental transaction thesis.
• Increased cash burn ($7.6M loss vs $5.5M prior year) narrows the runway to less than two months without Hanmi support, but the company has an existing US$11.1 million facility with Hanmi to fund operations until closing.
• The stock price is trading at $2.34, very close to the offer price of C$2.41, indicating the market already prices in a high probability of deal completion.
• No material upside or downside surprise exists relative to previous expectations; the news confirms the status quo regarding the M&A timeline and financial burn rate.

• Aptose Biosciences is a clinical-stage biopharmaceutical company focused on oncology.
• Flagship Project: Tuspetinib (TUS), an oral pan-FLT3 inhibitor, being evaluated in combination with venetoclax and azacitidine for frontline treatment of newly diagnosed acute myeloid leukemia (AML).
• Clinical Trial: TUSCANY Phase 1/2 trial showing high response rates (90% overall CR/CRh) across diverse mutational subtypes including TP53-mutated disease.
• Secondary Program: Luxeptinib program has been wound down and license rights returned to CGI Invites Co., Ltd.