Aptose Reports Immaterial Financial Exposure to Silicon Valley Bank
SAN DIEGO and TORONTO, March 10, 2023 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (Nasdaq: APTO; TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral kinase inhibitors to treat hematologic malignancies, is aware of reports related to Silicon Valley Bank (“SVB”) and questions raised by interested parties.
- SAN DIEGO and TORONTO, March 10, 2023 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (Nasdaq: APTO; TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral kinase inhibitors to treat hematologic malignancies, is aware of reports related to Silicon Valley Bank (“SVB”) and questions raised by interested parties.
- Aptose has not entered into a line of credit with SVB, and therefore has no exposure related to any credit facility.
- Aptose held a deposit account at SVB with approximately $0.3 million in excess of the $250,000 FDIC-insured limit.
- Aptose does not believe these amounts represent a material portion of its cash and cash equivalents.