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Aptose Biosciences says immaterial financial exposure to Silicon Valley Bank
The Fly

Aptose Biosciences says immaterial financial exposure to Silicon Valley Bank

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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