Aptose Biosciences initiated with a Speculative Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Aptose Biosciences (APTO) with a Speculative Buy rating and $12.50 price target Aptose is focused on developing their lead asset, tuspetinib, for acute myeloid leukemia, which has already been studied in over 150 AML patients with relapsed/refractory disease and has “so far proven safe and shown good efficacy signals in this difficult-to-treat subpopulation of the disease,” the analyst tells investors. The firm’s sum-of-the parts analysis values royalties for tuspetinib for AML at $8.25 per share and other technology and cash at $4.25 per share, the analyst noted.