Aptose Biosciences drops on stock deal

Aptose Biosciences

16/07/2020 12:45

** U.S.-listed shares of Aptose Biosciences Inc  APTO.O 
down ~12% at $5.51 premarket after Canadian blood cancer drug
developer raises equity
    ** Co sells 10.5 mln shares at $5.25, ~16% discount to
stock's Weds close, raises $55 mln  urn:newsml:reuters.com:*:nGNX7XQ4Rk
    ** Aptose says to use net proceeds to accelerate and expand
clinical trials for CG-806 for APTO-253, among other uses
    ** Co has ~89.3 mln shares outstanding for $555 mln market
cap, per Refinitiv data
    ** Piper Sandler acting as sole active book-running manager
for offering
    ** U.S-listed shares on Weds rose 10.2% to $6.26. Stock's
1-yr low is $1.82 (Oct 23) and 1-yr high is $9.25 (Feb 20)

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))