SAN DIEGO and TORONTO, Jan. 20,
2015 /PRNewswire/ - Aptose Biosciences Inc. (NASDAQ: APTO,
TSX: APS), a clinical-stage company developing new therapeutics and
molecular diagnostics that target the underlying mechanisms of
cancer, announced today that Dr. Bradley
Thompson has been appointed to the Audit Committee, and that
the NASDAQ Stock Market ("NASDAQ") has notified the Company it has
regained compliance with Listing Rule 5605 to maintain three
independent members on the Audit Committee.
On December 15,
2014, Dr. Brian Underdown, a
member of the Board of Directors and Audit Committee, resigned from
the Aptose Board of Directors in conjunction with the appointment
of Dr. Erich Platzer to the Board.
This left the Audit Committee with only two independent members
until Dr. Bradley Thompson was
formally appointed to the committee. As previously reported on
January 15, 2015 in the Company's 6K
filing with the Securities and Exchange Commission, on January 13, 2015 the Company received, as
expected, a notification letter from NASDAQ stating that the
Company no longer complied with NASDAQ's audit committee
requirements of maintaining committee membership by at least three
independent directors as set forth in Listing Rule 5605 due to the
resignation of Dr. Brian
Underdown, which was previously reported on
December 15, 2014, in its Form 6-K
filing with the Securities and Exchange Commission. The NASDAQ
letter was issued in accordance with standard NASDAQ
procedures.
Consistent with Listing Rule 5605(c)(4), NASDAQ provided the
Company a cure period in order to regain compliance as follows:
- until the earlier of the Company's next annual shareholders'
meeting or December 15, 2015; or
- if the next annual shareholders' meeting is held before
June 15, 2015, then the Company must
evidence compliance no later than June 15,
2015.
On January 16, 2015 the Company
appointed Dr. Bradley Thompson to
the Audit Committee and was notified by NASDAQ today that the
Company has regained compliance with Listing Rule 5605.
About Aptose Biosciences
Aptose Biosciences is a clinical-stage
biotechnology company committed to discovering and developing
personalized therapies that address unmet medical needs in
oncology. Aptose is advancing new therapeutics focused on novel
cellular targets on the leading edge of cancer research coupled
with companion diagnostics to identify the optimal patient
population for its products. Aptose's lead anticancer agent
APTO-253 is under development for AML, MDS and other hematologic
malignancies. For further information, please visit
www.aptosebiosciences.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws.
Such statements include, but are not limited to, statements
relating to the Company's plans, objectives, expectations and
intentions and other statements including words such as "continue",
"expect", "intend", "will", "should", "would", "may", and other
similar expressions. Such statements reflect our current views with
respect to future events and are subject to risks and uncertainties
and are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by us are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors could
cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements described in this press release. Such expressed or
implied forward looking statements could include, among others: our
ability to obtain the capital required for research and operations;
the inherent risks in early stage drug development including
demonstrating efficacy; development time/cost and the regulatory
approval process; the progress of our clinical trials; our ability
to find and enter into agreements with potential partners; our
ability to attract and retain key personnel; changing market
conditions; and other risks detailed from time-to-time in our
ongoing quarterly filings, annual information forms, annual reports
and annual filings with Canadian securities regulators and the
United States Securities and Exchange Commission.
Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
SOURCE Aptose Biosciences Inc.