Why Aptose Biosciences Stock Is Skyrocketing Today

Shares of Aptose Biosciences (NASDAQ: APTO) were skyrocketing 70.6% higher as of 11:39 a.m. EDT on Wednesday. The huge gain came after the company provided a fourth-quarter update following the market close on Tuesday that featured new results from an early-stage clinical study evaluating luxeptinib in treating acute myeloid leukemia (AML).

Aptose announced "encouraging anti-leukemic activity" has been observed so far in its phase 1 study of luxeptinib in treating AML. That's perhaps an understatement. One patient in the study has experienced a complete remission with no safety issues. The company also stated that luxeptinib was "broadly potent against AML cells, suggesting potential across [the] entire AML patient population."

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Source Fool.com