On March 10, 2023 Aptose Biosciences Inc. ("Aptose" or the "Company") (Nasdaq: APTO; TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral kinase inhibitors to treat hematologic malignancies, reported related to Silicon Valley Bank ("SVB") and questions raised by interested parties (Press release, Aptose Biosciences, MAR 10, 2023, View Source [SID1234628547]).

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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 $0.3 million 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.