Aptose Biosciences Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Notes To Financial Statements [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, 2022 and 2021, the total comprehensive loss is as follows:


	December 31, 2022			December 31, 2021
Loss attributed to US foreign operations	$	(36,615	)	$	(52,447	)
Loss attributed to Canadian operations		(5,208	)		(12,907	)
Loss before income taxes	$	(41,823	)	$	(65,354	)

Schedule of Effective Income Tax Rate Reconciliation

Major items causing the Company’s income tax rate to differ from the statutory rate of approximately 26.5% (December 31, 2021 – 26.5%) are as follows:


	Year ended December 31, 2022			Year ended December 31, 2021
Net loss	$	(41,823	)	$	(65,354	)
Statutory Canadian corporate tax rate		26.5	%		26.5	%
Computed expected tax recovery	$	(11,083	)	$	(17,319	)
Non-deductible permanent differences		1,376			3,707
Change in valuation allowance		10,821			15,274
Foreign tax rate differential		(466	)		(683	)
Prior year true-up adjustments		(703	)		(951	)
Other		55			(28	)
	$	—		$	—

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the unrecognized deferred tax assets are presented below:


	December 31, 2022			December 31, 2021
Net operating losses carried forward	$	60,092		$	49,286
Research and development expenditures		5,023			5,032
Property, equipment, and other intangible assets		7,264			7,261
Research and development tax credits		4,968			4,202
Financing costs		873			1,580
Right-of-use assets		2			40
Total deferred tax assets		78,222			67,401
Valuation allowance		(78,222	)		(67,401	)
Net deferred tax asset	$	—		$	—