Aptose Biosciences Inc. (NASDAQ:APTO) Stock Corrects 15% in a Month: A Good Opportunity?
Aptose Biosciences Inc. (NASDAQ:APTO) dropped 15% in a month after the company announced that it would report its financial results and offer a corporate update for the quarter ending June 30, 2021, on August 3, 2021. Recently, the company released corporate highlights from the EHA 2021 virtual congress.
The event focused current Luxeptinib clinical status. Luxeptinib is the company’s oral first-in-class BTK and FLT3 kinase inhibitor that is in phase 1a/b studies. One study is in refractory or relapsed acute myeloid leukemia patients, and the second study is in refractory or relapsed B cell malignancies patients.
CEO William Rice said that the recent clinical studies have shown that luxeptnib to be an active drug in various indications across lymphoid and myeloid malignancies, which agrees with the company’s hypotheses from a broad preclinical work portfolio. He said that they are encouraged with the anti-tumor activity shown even in clinically challenging and heavily pre-treated patients. In the coming months, APTO is a stock to watch.
Market Reaction:
On Tuesday, APTO stock fell 1.38% at $2.85 with more than 673k shares, compared to its average volume of 1.23 million shares. The stock has moved within a range of $2.8200 – 2.9300 after opening the trade at $2.93. Over the past 52-week, the stock has been trading within a range of $2.7500 – 7.2700.
