Aptose Biosciences (APS) AI Stock Analysis

• Market Cap: C$5.72M
• Dividend Yield: N/A
• Average Volume (3M): 3.35K
• Price to Earnings (P/E): ―
• Beta (1Y): -1.27
• Revenue Growth: N/A
• EPS Growth: 90.81%
• Country: CA
• Employees: 13
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -2.79
• Shares Outstanding: 2,552,429
• 10 Day Avg. Volume: 4,664
• 30 Day Avg. Volume: 3,346
• PEG Ratio: 0.06
• Price to Book (P/B): -34.40
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$2.41
• Price Target Upside: 7.59% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: C$2.50 ▲(11.61% Upside)

The score is held back primarily by very weak financial performance (no revenue, ongoing cash burn, negative equity and rising debt). Positive corporate catalysts (promising trial results and a pending acquisition) provide meaningful offset, while technical indicators are mixed-to-weak and valuation metrics are not supportive due to negative earnings and no dividend.

Positive Factors

Promising clinical data and acquisition catalyst

Robust clinical responses for lead asset tuspetinib plus a pending Hanmi acquisition represent structural validation of science and a durable strategic shift. An acquirer can supply capital, development expertise, and commercialization channels that materially de-risk long-term program funding and execution.

Focused precision oncology pipeline

A narrow, specialty focus on small-molecule precision therapies for hematologic cancers gives Aptose a durable strategic position. Deep scientific focus can create differentiated programs, higher probability of targeted approvals, and appeal to partners or acquirers seeking niche oncology assets.

Improving loss and cash burn trajectory

Net loss and operating cash outflows have meaningfully narrowed over recent periods, indicating improving cost control and lower near-term funding needs. Sustained improvement in burn rate enhances runway prospects and reduces—but does not eliminate—reliance on external capital.

Negative Factors

No revenue base

Zero operating revenue is a persistent structural weakness: without product sales the company depends on financing or transactions to fund R&D and trials. This removes operating cash inflows as a stabilizer, increasing execution and dilution risk over the medium term.

Negative equity and rising debt

Consistent negative equity alongside sharply higher debt signals material solvency and financing stress. This structural imbalance limits strategic flexibility, raises default or covenant risks, and heightens dependence on dilutive financings or transactional exits to sustain operations.

Persistent negative cash flow

Ongoing negative operating and free cash flow is a durable constraint: the company cannot self-fund development and will require external capital or partner support. Continued cash burn elevates dilution risk and can slow pipeline progress absent a financing or strategic transaction.

Aptose Biosciences Business Overview & Revenue Model

Company Description

Aptose Biosciences Inc., a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology primarily in the United States. Its clinical programs include APTO-253, which is in Phase 1a/b clinical trial for the treatment of patients with relapsed or refractory blood cancers, including acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (HR MDS); and HM43239 that is in Phase 1/2 clinical trial to treat patients with relapsed or refractory AML. The company also develops luxeptinib, which is in Phase 1a/b clinical trial for treating patients with relapsed or refractory B-cell malignancies, including chronic lymphocytic leukemia, small lymphocytic lymphoma, and various non-Hodgkin's lymphomas, as well as AML and HR MDS; and APL-581, a dual bromodomain and extra-terminal domain motif protein and kinase inhibitor program. It has agreements with CrystalGenomics, Inc. and OHM Oncology. The company was formerly known as Lorus Therapeutics Inc. and changed its name to Aptose Biosciences Inc. in August 2014. Aptose Biosciences Inc. was incorporated in 1986 and is headquartered in Toronto, Canada.

How the Company Makes Money

Aptose Biosciences generates revenue primarily through the development and potential commercialization of its proprietary drug candidates. The company seeks to monetize its innovations through strategic partnerships with larger pharmaceutical companies, licensing agreements, and eventual sales of approved therapeutics. Revenue streams may include upfront payments, milestone payments, royalties on product sales, and research and development funding from partners. As a clinical-stage company, Aptose's financial performance heavily depends on the successful clinical development, regulatory approval, and commercialization of its drug candidates.

Aptose Biosciences Financial Statement Overview

Summary

Aptose Biosciences exhibits significant financial challenges with no revenue and substantial losses. The company's negative equity and high liabilities further emphasize its financial instability. Cash flow is negative, indicating cash burn, although financing activities provide temporary liquidity.

Income Statement

Aptose Biosciences has consistently reported zero revenue over the analyzed periods, with significant negative EBIT and net income, indicating high operational losses. The lack of revenue growth and persistent negative profit margins suggest substantial challenges in generating income and controlling expenses.

Balance Sheet

The company's balance sheet shows negative stockholders' equity and high liabilities relative to assets, signaling financial instability and high leverage. The debt-to-equity ratio is not calculable due to negative equity, but the high total liabilities pose a risk. The negative equity ratio further highlights the company's financial distress.

Cash Flow

Aptose Biosciences exhibits negative operating and free cash flows, reflecting cash burn without revenue generation. The free cash flow to net income ratio is unfavorable due to negative values, and the operating cash flow further indicates cash inefficiency, though financing activities provide temporary liquidity support.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	-474.55K	-507.08K	-616.53K	-646.43K
EBITDA	-18.04M	-26.23M	-52.27M	-42.48M	-65.30M	-55.12M
Net Income	-19.29M	-25.43M	-51.21M	-41.82M	-65.35M	-55.24M
Balance Sheet
Total Assets	6.34M	10.13M	12.99M	51.03M	82.53M	126.26M
Cash, Cash Equivalents and Short-Term Investments	613.00K	6.15M	9.25M	46.96M	79.13M	122.39M
Total Debt	19.02M	10.64M	1.01M	1.30M	574.00K	1.07M
Total Liabilities	25.79M	14.67M	15.89M	13.29M	8.29M	7.35M
Stockholders Equity	-19.45M	-4.54M	-2.90M	37.74M	74.24M	118.92M
Cash Flow
Free Cash Flow	-24.21M	-35.98M	-44.62M	-32.35M	-43.52M	-33.97M
Operating Cash Flow	-24.21M	-35.98M	-44.59M	-32.32M	-43.30M	-33.89M
Investing Cash Flow	0.00	18.00K	9.96M	30.07M	-35.21M	12.63M
Financing Cash Flow	17.88M	33.41M	6.91M	116.00K	226.00K	58.81M

Aptose Biosciences Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.24
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:APS, the sentiment is Positive. The current price of 2.24 is above the 20-day moving average (MA) of 2.12, above the 50-day MA of 2.16, and above the 200-day MA of 2.09, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 57.09 is Neutral, neither overbought nor oversold. The STOCH value of 71.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:APS.

Aptose Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APS	51 Neutral	C$5.72M	-0.20	―	―	―	90.81%
XRTX	46 Neutral	C$5.64M	-1.23	-96.61%	―	―	-1939.32%
BETR	43 Neutral	C$6.84M	-3.38	―	―	―	62.43%
KNE	41 Neutral	C$8.17M	-3.69	―	―	―	―
BIOV	29 Underperform	$7.14M	-1.10	―	―	―	25.09%

Aptose Biosciences Corporate Events

Aptose’s Tuspetinib Shows Promising Results in AML Treatment

Aptose Biosciences announced promising results from its TUSCANY trial, showcasing the efficacy and safety of its lead compound, tuspetinib, in combination with venetoclax and azacitidine for treating newly diagnosed acute myeloid leukemia (AML) patients. The triple drug therapy demonstrated high clinical response rates, particularly at higher doses, and was effective across diverse genetic mutations, positioning Aptose as a significant player in addressing AML’s unmet needs.

The most recent analyst rating on (TSE:APS) stock is a Hold with a C$2.41 price target. To see the full list of analyst forecasts on Aptose Biosciences stock, see the TSE:APS Stock Forecast page.

Aptose Biosciences to be Acquired by Hanmi Pharmaceutical

Aptose Biosciences has entered into an agreement to be acquired by Hanmi Pharmaceutical, with minority shareholders receiving C$2.41 per share in cash. This acquisition will allow Aptose to continue the development of its promising AML treatment, tuspetinib, and marks Hanmi’s strategic entry into the North American market, potentially expanding its clinical and partnership opportunities.

The most recent analyst rating on (TSE:APS) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Aptose Biosciences stock, see the TSE:APS Stock Forecast page.

Aptose Biosciences Reports Promising Results in AML Therapy Trials

Aptose Biosciences announced promising results from its TUSCANY clinical trial, where the tuspetinib-based therapy showed excellent safety and complete responses in AML patients at increased dose levels. The company is now administering a 160 mg dose of tuspetinib, with previous doses achieving a 100% complete response rate, surpassing expectations. The data supports the use of tuspetinib with standard care across diverse AML populations, including those with adverse mutations, and has been accepted for presentation at the upcoming American Society of Hematology Annual Meeting.

The most recent analyst rating on (TSE:APS) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Aptose Biosciences stock, see the TSE:APS Stock Forecast page.