Aptose Biosciences Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Note 10 - Commitments and Contingencies

Note 10 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Commitments and Contingencies

10.

Commitments and Contingencies

Operating Leases

The Company leases office space in San Diego, California, pursuant to a lease agreement that is scheduled to expire on May 31, 2026. The Company leased office space in Toronto, Ontario, Canada, which expired on June 30, 2024. The Company has not included any extension periods in calculating its right-of-use assets and lease liabilities. The Company also enters into leases for small office equipment.

Minimum payments, undiscounted, under our operating leases are as follows:


Years ending December 31,	Amount
2025	$	117
2026		197
Total minimum lease payments		314
Less: imputed interest		(9	)
Present value of lease liabilities		305
Less: current portion of lease liability		(305	)
Lease liability, non-current	$	—

The following table presents the weighted average remaining term of the leases and the weighted average discount rate:


	September 30, 2025			December 31, 2024
Weighted-average remaining term – operating leases (years)		0.7			1.4
Weighted-average discount rate – operating leases		7.90	%		7.90	%

Lease liability, current portion	$	305		$	428
Lease liability, long-term portion		—			193
Total	$	305		$	621

Operating lease costs and operating cash flows from our operating leases are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Operating lease cost	$	107	$	107	$	321	$	331
Operating cash flows from operating leases	$	116	$	112	$	345	$	346

As of September 30, 2025 and December 31, 2024, the Company did not have any significant leases that have not yet commenced that would create significant rights and obligations for the Company.

Retention Bonuses

The Company has entered into retention award agreements with its senior leadership team and certain other key employees. In the event of a change in control, subject to the terms of these agreements, retention bonuses will be payable in an aggregate amount of $1.0 million. As the events triggering the retention bonuses are outside the control of the Company and given the level of uncertainty surrounding such a transaction, the expense related to these payments would not be recognized until the event occurs.