Aptose Bioscns Down 6.31% To $1.50 After Earnings Beat

Aptose Biosciences Inc (APTO) surpassed earnings projections on 3/26/2024 for Q4 2023.

Wall Street earnings per share (EPS) projections for Aptose Bioscns were at a loss of $1.59 per share. The company beat those estimates with an EPS loss of $1.44 per share. The loss of $1.44 per share (which represents a -9% EPS surprise) led to the company's profits rising 13% compared to last year when the firm reported an EPS loss of $1.65 per share. The increase in Aptose Bioscns's annual growth rate represents how the business is performing well amid recent economic conditions.

Aptose Bioscns reported a revenue of $0.00 in Q4 2023. The firm managed 0% growth year-over-year due to Aptose Bioscns reporting quarterly revenue of $0.00 in its year-ago quarter. Aptose Bioscns achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 6.31% to $1.50 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Aptose Bioscns a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 32. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Aptose Biosciences Inc is a clinical-stage biotechnology company committed to discovering and developing personalized therapies addressing unmet medical needs in oncology. The company has two clinical-stage programs and a second program that is discovery-stage and partnered with another company. Luxeptinib, its panFMS-like tyrosine kinase 3 / pan-Bruton's tyrosine kinase inhibitor, is enrolling patients in a Phase 1, multicenter, open label, dose-escalation study with expansions to assess the safety, tolerability, PK, and preliminary efficacy of CG-806 in patients with chronic lymphocytic leukemia (CLL/SLL) or non-Hodgkin lymphomas (NHL). HM43239 is an oral potent myeloid kinome inhibitor, targeting a constellation of kinases operative in myeloid malignancies.