Restricted cash equivalents consist of deposits in high interest savings accounts, money market funds and accounts with original maturities less than 90 days totaling $555 thousand (December 31, 2023 - nil).

On August 27, 2024, the Company and Hanmi Pharmaceutical Co. Ltd. (“Hanmi”) entered into a loan agreement, pursuant to which Hanmi agreed to loan $10 million to Aptose (the “Hanmi Loan Agreement”). Under the terms of the Hanmi Loan Agreement, the loan proceeds are restricted to be used for Tuspetinib-related business operation purposes, unless otherwise authorized by Hanmi. The use of the funds is also contingent upon the Company meeting specific manufacturing and clinical milestones. The restricted cash equivalents noted above reflects the balance, as of December 31, 2024, of the unspent proceeds associated with the Hanmi Loan Agreement. See Note 11, Related party transactions.