Home Top Movers Why is Aptose Biosciences Inc. (APTO) stock gaining today?

Why is Aptose Biosciences Inc. (APTO) stock gaining today?

Shares of the Aptose Biosciences Inc. (APTO) stock were gaining in the pre-market session today on June 14, 2021, despite no recent activity by APTO stock today. The APTO stock price saw a push of 4.26% to reach $3.92 a share at the time of this writing. APTO stock went down at the previous closing by 32.01% after the release of highlights of Luxeptinib at the EHA2021 virtual congress. Let’s check out more about APTO stock.

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What’s Happening?

After experiencing a huge fall at previous trading, the Aptose stock has again found momentum though its rising per-share price has nothing to do with any recent news related to it or any recent analyst upgrade. However, on June 11, 2021, Aptose stock presented the highlights of the clinical status of luxeptinib at the EHA2021 Virtual Congress (EHA).


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Management View on Luxeptinib

The CEO of the Aptose stock said that the luxeptinib proved to be an active drug for several indications across both lymphoid and myeloid malignancies according to the clinical experience of the Aptose staff which shows the consistency with the hypothesis from the Aptose portfolio of pre-clinical work. The CEO further said that they are encouraged to get more exposure to this antitumor activity in the patients who were previously treated with heavy doses of other drugs and were clinically challenged by continuing the trials with heavy doses of luxeptinib in order to evaluate the potential of the drug for a longer-term.

Brief Highlights of Luxeptinib clinical program

In the phase 1a/b study of luxeptinib in patients with relapsed or refractory AML, Aptose moved to the third cohort in which patients are treated with 750mg dose of the drug and management is planning to increase the dose further and aiming to inspect the genotypes of the disease under monotherapy and combination therapy programs in future.

In the Phase 1a/b study of luxeptinib in B-cell malignancies, all the leading indicators of clinical activity had been delivered by treating participant patients with intermediate dose levels. Currently, the Aptose team is treating patients with B-cell malignancies by 750mg dose and looking forward to further increase the dose level as well as the extension of treatment duration.

Conclusion:

Aptose stock is hot among the investors so far despite the absence of any particular reason related to APTO stock. The clinical trials of luxeptinib are expected to continue with high doses in the future. The future of the stock greatly depends on the further results of Luxeptinib.

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