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Nearly half of US teens are online 'constantly,' Pew report findsVictoria's major regional hospitals are still showing financial red flags, with some also failing to provide the healthcare they pledged to provide, ACM can reveal. or signup to continue reading An analysis of the health services' 2023-24 annual reports, as well as their statements of priority - the contracts they sign with the Victorian government - showed many recorded operating deficits running into the tens of millions of dollars. It showed others were bailed out by the government with even greater sums, while some recorded huge deficits even after equally large bailouts. But the analysis showed a handful of services were also falling well short of their activity targets: the amount of clinical care they have contractually agreed to provide over the year. ACM has published since February, 2024 of Victoria's regional hospital system and to meet their activity targets. As these services negotiate with the government over their 2025 budgets and activity levels, the documents show most are still struggling to keep both their healthcare and budget under control. Nearly every major regional hospital in Victoria recorded a substantial deficit in 2023-24. ACM used the net result from transactions, which tallies revenue from transactions against expenses. The Department of Treasury and Finance calls it "a summary measure of the ongoing sustainability of operations". Bendigo Health notched a $27 million deficit, Goulburn Valley Health $42 million, Northeast Health Wangaratta $12 million and Albury Wodonga Health $51 million. The only two large regional health services with a surplus were Grampians Health ($44 million) and South West Healthcare ($27 million). But they were both only in the black because they each had money for their hospital redevelopments - $113 million for Grampians Health and $65 million for South West Healthcare - sitting on their ledger. Several services also received huge amounts of "supplemental funding" to keep them afloat during the year. Bendigo Health received $46 million, Northeast Health Wangaratta $28 million, and Albury Wodonga Health $55 million. Grampians Health received more than $75 million in supplemental funding. This was nearly four times the bailout funding received by Barwon Health in Geelong, a health service 50 per cent larger than Grampians Health. The data also showed every major regional health service failing to keep the required amount of cash on hand to pay staff and run its healthcare operations. The government mandate is for each service to have 14 days' operating cash available. Goulburn Valley Health and Albury Wodonga Health had just seven days' cash. South West Healthcare had 10. Northeast Health Wangaratta had two days' available cash. Both Grampians Health and Bendigo Health refused to say how many days' cash they had, but confirmed it was less than 14. ACM asked several of the health services what they were doing to get their budgets under control. Bendigo Health said it was still negotiating with the government over its 2024-25 budget, but was "committed to operating sustainably, ensuring that it delivers its promised activity while maintaining a balanced budget". South West Healthcare CEO Craig Fraser said the service had negotiated a "break even operational budget for 2024-25" with the government. "While it will require continued close budget management, we are confident it can be achieved placing us in a better financial and operational position," Mr Fraser said. Grampians Health didn't discuss its budget, but said it would "continue to work with the Department of Health to achieve financial sustainability". Albury Wodonga Health did not respond. Over the past year, we have improved access to care, particularly in the regional locations. The state government said its for 2024-25 had allowed a "reset" of health service budgets. The government has increased the funding it provides for each healthcare activity, which it said would offer health services a "fair price", paving the way for "greater financial certainty and stability to the sector". It also created a new entity, Hospitals Victoria, to keep the health services on a tighter financial leash. "We're working with health services to ensure every dollar is spent on delivering the frontline care Victorians need," a spokesperson said. A comparison of each health service's annual report with its statement of priority revealed several services delivering much less clinical care than promised. The statement of priority lists the contracted activity target, while the annual report records the actual number of activity units delivered. Each unit is worth about $5000 in funding to the health service. A big operation like a knee or hip replacement might cost five units, while a simple colonoscopy would cost just 0.4 units. The documents showed Grampians Health fell 5400 units (about $27 million or 2700 surgeries) short of its 2023-24 target. Goulburn Valley Health fell 6838 units short (about $34 million or 3400 surgeries), while South West Healthcare fell 4512 units short ($22.5 million or 2250 surgeries). The activity shortfalls are particularly concerning when 61,000 Victorians remain on the state's planned surgery wait lists and emergency department wait times are than metropolitan Melbourne. ACM understands South West Healthcare's outpatient activity shortfall was less severe than the figures reported in its statement of priority. Mr Fraser said the service treated 1200 more inpatients in 2023-24 than the year prior, as well as 7000 extra outpatients. A Grampians Health spokesperson said the organisation had "improved access to care, particularly in the regional locations, and enhanced care options though increased cross-campus collaboration". "Like many health services, Grampians Health is experiencing high demand and increasing numbers of complex cases," the spokesperson said. Correspondent covering key issues across regional Victoria, based in Melbourne. Correspondent covering key issues across regional Victoria, based in Melbourne. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. 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SAN DIEGO and TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. ("Aptose” or the "Company”) (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral targeted agents to treat hematologic malignancies, today announced the closing of its previously announced "reasonable best efforts" public offering with participation from the CEO and existing and new healthcare focused investors for the purchase and sale of 40,000,000 common shares at a price of $0.20 per share and warrants to purchase up to 20,000,000 common shares (the "Offering”). The warrants have an exercise price of $0.25 per share, are exercisable immediately and will expire five years from the issuance date. The Company received aggregate gross proceeds of $8 million, before deducting placement agent fees and other offering expenses, and intends to use the net proceeds from this Offering for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering. The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-281201) previously filed with the Securities and Exchange Commission ("SEC") on August 2, 2024, as amended, which was declared effective on November 21, 2024. This Offering was made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained on the SEC's website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected] . This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Aptose Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company's lead clinical-stage, oral kinase inhibitor tuspetinib (TUS) has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML), and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com . Forward Looking Statements This press release contains forward-looking statements within the meaning of Canadian and U.S. securities laws, including, but not limited to, statements relating to the intended use of proceeds and statements relating to the Company's plans, objectives, expectations and intentions and other statements including words such as "continue”, "expect”, "intend”, "will”, "hope” "should”, "would”, "may”, "potential” and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant market and other conditions, business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: our ability to obtain the capital required for research and operations; the inherent risks in early stage drug development including demonstrating efficacy; development time/cost and the regulatory approval process; the progress of our clinical trials; our ability to find and enter into agreements with potential partners; our ability to attract and retain key personnel; changing market and economic conditions; unexpected manufacturing defects and other risks detailed from time-to-time in our ongoing current reports, quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. For further information, please contact:PG&E is seeking a fresh increase in monthly bills — yet again — for its residential customers.
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