Once again Aptose Biosciences (APTO) has exited a major medical meeting leaving investors hungry for more and punishing the stock as a result. The data that Aptose did provide at this year's American Society of Hematology meeting weren't bad, but they also didn't add much to the positive side of the scale, leaving investors still wondering whether the company's lead drug (CG-806) is truly an up-and-comer in AML and B-cell malignancies.
I believe there are some positives to draw from the data provided by Aptose, but significant questions and risks remain. Between expanded dosing at 750mg in B-cell malignancies (CLL in particular) and the AML program, Aptose should have more information to offer investors in the first half of 2021. In the meantime, though, the shares may well struggle to regain the momentum they had going into the ASH meeting, as I don't see any thesis-changing events prior to those 2021 presentations.
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Aptose Shares Sell Off As The Market Wanted More Than Further Signs And Portents
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