Aptose Biosciences (APTO) is aware of reports related to Silicon Valley Bank (SIVB) and questions raised by interested parties. Aptose has not entered into a line of credit with SVB, and therefore has no exposure related to any credit facility. Aptose held a deposit account at SVB with approximately $0.3M in excess of the $250,000 FDIC-insured limit. Aptose does not believe these amounts represent a material portion of its cash and cash equivalents. The company does not expect any material impact on operations, payroll, or ongoing clinical trials. "Non-SVB institutions serve as custodians for investments held in Aptose’s name, and we envision no direct exposure to those investments as a consequence of a liquidity concern at SVB."
Published first on TheFly
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