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

Annual report pursuant to Section 13 and 15(d)

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes To Financial Statements [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, 2023 and 2022, the total comprehensive loss is as follows:


	December 31, 2023			December 31, 2022
Loss attributed to US foreign operations	$	(45,652	)	$	(36,615	)
Loss attributed to Canadian operations		(5,555	)		(5,208	)
Loss before income taxes	$	(51,207	)	$	(41,823	)

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, 2022 – 26.5%) are as follows:


	Year ended December 31, 2023			Year ended December 31, 2022
Net loss	$	(51,207	)	$	(41,823	)
Statutory Canadian corporate tax rate		26.5	%		26.5	%
Computed expected tax recovery	$	(13,570	)	$	(11,083	)
Non-deductible permanent differences		873			1,376
Change in valuation allowance		13,059			10,821
Foreign tax rate differential		(677	)		(466	)
Prior year true-up adjustments		355			(703	)
Other		(40	)		55
	$	—		$	—

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, 2023			December 31, 2022
Net operating losses carried forward	$	73,552		$	60,092
Research and development expenditures		5,025			5,023
Property, equipment, and other intangible assets		7,321			7,264
Research and development tax credits		4,930			4,968
Financing costs		431			873
Right-of-use assets		19			2
Total deferred tax assets		91,278			78,222
Valuation allowance		(91,278	)		(78,222	)
Net deferred tax asset	$	—		$	—