Aptose Shares Look Undervalued Ahead Of Value-Driving Efficacy Data

It’s tough to hold early-stage biotechs through all the ups and downs of the market, and Aptose Biosciences (APTO) shareholders have had their patience tested lately, as the shares have fallen about 6% since early August (my last update) and were down roughly 25% from a recent plateau around $6 before a positive post-earnings bump. You could spend a lot of time debating and speculating on why the stock sold off (including funds repositioning ahead of the election), but the reality is that this is just sometimes what happens with early-stage biotechs.

As things stand now going into the American Society of Hematology meetings in early December (virtual meetings this year, of course), I see no reason to shift my view that Aptose has an intriguing, high-potential, but still very high-risk primary asset in CG-806 and an arguably unappreciated, but very high-risk asset in APTO-253. While there are preliminary signs of efficacy for CG-806, I believe it will take clear formal responses (partial responses or, ideally, complete responses) to really bring the spotlight onto this promising hematology asset.

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Aptose Shares Look Undervalued Ahead Of Value-Driving Efficacy Data