Aptose Biosciences Inc.(APTO), a biotechnology company focus ed on developing innovative therapeutics, has released its Condensed Consolidated Interim Financial Statements for the second quarter of 2023. The financial report reveals a net loss of $14.1 million for the quarter, and the company reported no revenue during the period. The financial data indicates the company's current financial position, including its assets, liabilities, and shareholders' equity.
Aptose Biosciences Inc. reported total assets of $26.6 million as of June 30, 2023, compared to $51.0 million as of December 31, 2022. The company's assets include cash and cash equivalents of $8.4 million, investments totaling $14.9 million, and prepaid expenses of $1.7 million. Current assets decreased from $49.5 million at the end of 2022 to $25.3 million in the second quarter of 2023.
On the liability side, the company reported total liabilities of $12.8 million as of June 30, 2023, compared to $13.3 million at the end of 2022. Current liabilities include accounts payable of $3.5 million, accrued liabilities of $8.1 million, and current portion of lease liability of $387 thousand.
Aptose Biosciences Inc. reported a net loss of $14.1 million for the three months ended June 30, 2023, compared to a net loss of $10.6 million for the same period in 2022. The company's operating expenses for the quarter amounted to $14.5 million, including $10.6 million in research and development expenses and $3.9 million in general and administrative expenses.
The company's shareholders' equity as of June 30, 2023, was reported at $13.8 million, a decrease from $37.7 million at the end of 2022. Share capital, which includes common shares with no par value, was $439.1 million, and additional paid-in capital amounted to $71.1 million. The company reported a deficit of $492.1 million.
Aptose Biosciences Inc. has faced financial challenges in the second quarter of 2023, recording a net loss of $14.1 million and no revenue. The company's financial statements reflect a decrease in both assets and shareholders' equity, indicating potential difficulties in generating positive financial outcomes in the short term. As Aptose Biosciences continues its research and development efforts in the biotechnology sector, investors and stakeholders will closely monitor its financial performance in the coming quarters.