Aptose Biosciences has announced private placement funding to raise ~USD 4.4 million. The transaction involves the sale of ~3.9 million of its common shares at USD 1.15 per share. In a concurrent private placement, the company has also decided to issue Series A warrants and Series B warrants, each for purchasing up to ~3.9 million common shares at an exercise price of USD 1.15 per share. H.C. Wainwright & Co. is the exclusive placement agent of the funding round, which is expected to be closed on June 3, 2024.

The company aims to use the net proceeds obtained from this offering for general corporate purposes and to supplement its working capital.

Aptose Biosciences is a biotechnology company specializing in developing novel therapies for hematologic malignancies. The company’s lead drug candidates include tuspetinib, an oral kinase inhibitor targeting key kinases involved in myeloid malignancies, and luxeptinib, which targets relapsed or refractory B-cell and myeloid malignancies.