TORONTO—Aptose Biosciences Inc. (NASDAQ:APTO), a company specializing in the development of novel therapeutics to treat cancer, announced the results of its Annual and Special Meeting of Shareholders held on Monday. Shareholders voted in favor of all proposed items, including the election of directors and the re-appointment of the company's independent registered public accounting firm.
The election of directors saw seven nominees appointed to the board, each set to serve until the 2025 Annual General Meeting. Notably, Ms. Carol G. Ashe received 95.91% of votes in favor, while Dr. William G. Rice, also the company's Chairman, President, and CEO, received 83.76% support.
KPMG LLP was re-appointed as Aptose Biosciences (NASDAQ:APTO)' independent registered public accounting firm for the fiscal year ending December 31, 2024, with a substantial majority of 94.68% of votes in favor.
Additionally, a non-binding resolution regarding the compensation of the company's named executive officers was approved with 80.67% of the votes cast. Shareholders also supported the potential issuance of common shares in excess of 19.99% of outstanding shares to certain warrant holders, in compliance with Nasdaq Listing Rules, with an 83.07% majority.
Lastly, a measure allowing for meeting adjournments, if necessary, to solicit additional proxies received 84.40% approval, ensuring flexibility in governance proceedings.
The meeting's outcomes reflect shareholder confidence in the current management and strategic direction of Aptose Biosciences. The company's focus remains on advancing its pipeline of cancer treatments and fulfilling its mission in the biopharmaceutical industry.
This report is based on a press release statement and provides a summary of the key decisions taken during Aptose Biosciences Inc.'s recent shareholder meeting.
In other recent news, Aptose Biosciences has seen significant developments, including adjustments to its share target by both H.C. Wainwright and Canaccord Genuity. H.C. Wainwright has reduced the price target to $7.00, citing valuation and funding concerns, while reaffirming a Buy rating. Canaccord Genuity has also reduced its price target to $6.00, anticipating a delay in the approval process for Aptose Biosciences' lead drug candidate, tuspetinib.
The company is also making strides in funding, initiating a registered direct offering and concurrent private placement to raise approximately $4.43 million. This move, managed exclusively by H.C. Wainwright & Co., involves the sale of 3,855,000 common shares and the issuance of series A and B warrants.
On the clinical front, Aptose Biosciences is focusing on developing tuspetinib as part of a novel triple drug combination therapy for frontline acute myeloid leukemia treatment, as highlighted in their first-quarter earnings call. These are the recent developments for the company.
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