March 7, 2018 / 12:59 PM / a year ago

BUZZ-Aptose Biosciences: Soars on license deal with OHM Oncology

** Canadian drug developer’s U.S.-listed shares up 22 pct at $3.88 premarket

** Second-top pct gainer among Nasdaq-listed stocks

** Co announces global license deal with privately held OHM Oncology for development and commercialization of cancer drug, APL-581, as well as related molecules and kinase inhibitor program

** Aptose will retain reacquisition rights to certain molecules, while OHM will have the rights to develop and sublicense all other molecules

** Under this deal, Aptose will receive a nominal upfront cash payment and is eligible to receive up to $125 mln of additional payments based on the achievement of certain development, regulatory and sales milestones, as well as significant royalties

** APTO up ~42 pct this year (Reporting by Akankshita Mukhopadhyay in Bengaluru)

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