Aptevo Provides State of the Business Report and 2025 Financial Results
Rhea-AI Summary
Aptevo Therapeutics (Nasdaq:APVO) reported 2025 financial results and a business update on March 26, 2026. Clinical data for mipletamig showed an 86% clinical benefit rate in 28 frontline AML patients and no cytokine release syndrome observed to date. The company expanded its CD3 multispecific portfolio and established a $60 million equity line; year-end cash was $21.6 million, with resources expected to fund operations into Q4 2026.
Positive
- Mipletamig delivered an 86% clinical benefit rate in 28 frontline AML patients
- Remission rates: 79% CR/CRi and 61% complete remission (reported vs. ven/aza historical rates)
- No cytokine release syndrome observed in frontline patients treated to date
- $60M equity line established, providing capital flexibility and potential support into 2029 if fully utilized
Negative
- Net loss attributable to common shareholders of $27.5M for 2025
- Cash runway limited: current resources expected to support operations only into Q4 2026
- Basic and diluted net loss per share was $87.27 for 2025, reflecting significant per‑share loss dynamics
News Market Reaction – APVO
In the Mar 26 session, APVO gained 1.92%, reflecting a mild positive market reaction. Argus tracked a trough of -11.2% from its starting point during tracking.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 06 | 3Q25 earnings update | Positive | +2.8% | 3Q25 results, 89% remission data, two trispecifics launched, runway into 4Q26. |
| Aug 11 | 2Q25 earnings update | Positive | -4.9% | 2Q25 results, 85% remission, new CD3 bispecific and expanded equity line. |
| May 14 | 1Q25 earnings update | Positive | +0.0% | 1Q25 results with 90% remission in RAINIER and no CRS reported. |
| Feb 14 | 2024 results update | Positive | -8.2% | 2024 results showing strong AML and solid tumor data with favorable safety. |
| Nov 07 | 3Q24 earnings update | Positive | +19.8% | 3Q24 results, RAINIER initiation, solid tumor stable disease data and funding. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings/business updates for APVO have often produced mixed reactions: most releases highlighted positive clinical progress and strengthened cash, yet price responses split between gains and selloffs, suggesting event-specific positioning and dilution concerns play a role.
Across prior earnings and annual results since Nov 2024, Aptevo consistently paired financial updates with mipletamig progress and CD3 portfolio expansion. Remission rates in frontline AML remained high, safety signals were favorable, and cash runway steadily extended via financings and equity lines. Price reactions were sometimes negative even on clinically strong news, indicating that dilution risk and losses weighed on sentiment. Today’s 2025 results and business update continue this pattern of strong AML data, a broader CD3 pipeline, and extended runway into 4Q26 and beyond.
Key Terms
cytokine release syndrome medical
trispecific medical
measurable residual disease medical
allogeneic stem cell transplant medical
cd3 binding domain medical
equity line facility financial
down round feature financial
warrants financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Latest mipletamig data delivers
Company expands CD3 pipeline and introduces first trispecific drug candidates
SEATTLE, WA / ACCESS Newswire / March 26, 2026 / Aptevo Therapeutics Inc. (Nasdaq:APVO), a clinical-stage biotechnology company developing novel immune-oncology therapeutics based on its proprietary ADAPTIR TM and ADAPTIR-FLEX TM platform technologies, today reported financial results for the year ended December 31, 2025 and provided a business update highlighting recent clinical progress, pipeline expansion and capital strategy.
"2025 was a year of meaningful progress across our clinical programs, pipeline strategy and capital position," said Marvin White, President and Chief Executive Officer of Aptevo Therapeutics. "Most importantly, recently reported mipletamig data continue to demonstrate encouraging remission outcomes together with a favorable safety profile, including no cytokine release syndrome observed in frontline patients treated to date. These results support the potential for mipletamig to enhance frontline AML treatment alongside existing standard-of-care therapy."
White continued, "During the year we also expanded our CD3 pipeline, introduced our first trispecific programs and strengthened our access to capital to support continued execution. As I transition into the role of Executive Chair and Jeff Lamothe assumes the responsibilities of President and Chief Executive Officer, I am confident in the Company's ability to build on this momentum."
Highlights
Aptevo entered 2026 with momentum:
Mipletamig Clinical Performance: Mipletamig in triplet combination therapy continues to outperform standard of care ven/aza 1 in unfit frontline patients with acute myeloid leukemia (AML). This further validates a differentiated safety profile, including no cytokine release syndrome in frontline patients, suggesting it is additive to the current standard of care
Expanded CD3 portfolio: the addition of three new multispecific candidates, leveraging the Company's proprietary application of its differentiated CRIS7-derived CD3 binding domain, including the introduction of its first two trispecific assets
These additions emphasize the breadth and modularity of the ADAPTIR and ADAPTIR-FLEX platforms and position the Company to address a wider range of tumor targets and combination strategies across immune-oncology
Strengthened Financial Capacity: In 2026, the Company established a
$60 million equity line facility, providing additional access to capital, subject to market conditions and the Company's capital deployment strategy. If fully utilized, this facility, together with current resources, is expected to support operations into 2029.
Encouraging Frontline AML Data
Updated interim results from 28 evaluable frontline AML patients 2 treated with mipletamig in combination with ven/aza demonstrate an emerging clinical profile that is additive in combination with standard of care. The triplet regimen delivered an
Among patients achieving remission,
Importantly, no cytokine release syndrome has been observed in frontline patients treated to date. Outcomes from the mipletamig triplet compare favorably with historical results reported for the ven/aza doublet and support the potential for mipletamig to enhance frontline AML therapy for older and/or unfit patients.
"Mipletamig continues to demonstrate encouraging remission outcomes together with a consistently favorable safety profile," said Dirk Huebner, M.D., Chief Medical Officer of Aptevo Therapeutics. "The absence of cytokine release syndrome in frontline patients underscores the potential advantage of our differentiated CD3 design in combination treatment settings."
Huebner added, "Four patients treated to date have proceeded to allogeneic stem cell transplant, representing the most favorable treatment outcome in AML and an uncommon achievement in the older and/or unfit frontline population."
A Differentiated CD3 Platform
During 2025 Aptevo expanded its CD3 portfolio with three new multispecific candidates, including the Company's first two trispecific drug candidates designed to address complex solid tumor microenvironments.
All programs leverage Aptevo's proprietary CRIS-7-derived CD3 binding domain, designed to promote targeted T-cell activation while reducing systemic immune overstimulation. Clinical experience with mipletamig, now evaluated in more than 120 patients across three trials, provides early validation of this design approach.
The Company now has a five-molecule CD3 portfolio spanning hematologic malignancies and solid tumors, including programs targeting AML, prostate cancer and Nectin-4-expressing tumors.
Capital Strategy and Financial Flexibility
Aptevo ended 2025 with
In 2026, the Company also established a
1 DiNardo et al. N Engl J Med 2020;383:617-29
2 Total frontline patients include 4 from the completed dose escalation trial and 24 from the ongoing RAINIER dose optimization trial
2025 Summary Financial Results
Cash Position: Aptevo had cash and cash equivalents as of December 31, 2025, totaling
Research and Development Expenses: Research and development expenses was
General and Administrative Expenses: General and administrative expenses increased by
Other Income Net: Other Income, net was
Net Loss Attributable to Common Shareholders: For the years ended December 31, 2025, and 2024, Aptevo had a net loss of
Dividend Attributable to Down Round Feature of Warrants: This non-cash amount reflects the impact of reducing the exercise price of the Company's June 2025 warrants from the original
Aptevo Therapeutics Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
December 31, 2025 | December 31, 2024 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 21,619 | $ | 8,714 | ||||
Prepaid expenses and other current assets | 1,462 | 1,945 | ||||||
Total current assets | 23,081 | 10,659 | ||||||
Property and equipment, net | 303 | 543 | ||||||
Operating lease right-of-use asset | 3,810 | 4,389 | ||||||
Total assets | $ | 27,194 | $ | 15,591 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 877 | $ | 1,242 | ||||
Accrued expenses and other current liabilities | 4,307 | 4,197 | ||||||
Operating lease liability, current portion | 866 | 768 | ||||||
Total current liabilities | 6,050 | 6,207 | ||||||
Operating lease liability, net of current portion | 3,763 | 4,629 | ||||||
Total liabilities | 9,813 | 10,836 | ||||||
Stockholders' equity: | ||||||||
Preferred stock: issued or outstanding | - | - | ||||||
Common stock: and 4,051 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 114 | 84 | ||||||
Additional paid-in capital | 292,382 | 252,248 | ||||||
Accumulated deficit | (275,115 | ) | (247,577 | ) | ||||
Total stockholders' equity | 17,381 | 4,755 | ||||||
Total liabilities and stockholders' equity | $ | 27,194 | $ | 15,591 | ||||
Aptevo Therapeutics Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
For the Year Ended December 31, | ||||||||
2025 | 2024 | |||||||
Operating expenses: | ||||||||
Research and development | $ | (14,540 | ) | $ | (14,378 | ) | ||
General and administrative | (11,772 | ) | (10,224 | ) | ||||
Loss from operations | (26,312 | ) | (24,602 | ) | ||||
Other income: | ||||||||
Other income, net | 345 | 472 | ||||||
Net loss | $ | (25,967 | ) | $ | (24,130 | ) | ||
Dividend attributable to down round feature of warrants | (1,571 | ) | - | |||||
Net loss attributable to common stockholders | $ | (27,538 | ) | $ | (24,130 | ) | ||
Basic and diluted net loss per share: | $ | (87.27 | ) | $ | (31,460.23 | ) | ||
Shares used in calculation: | 315,535 | 767 | ||||||
About Aptevo Therapeutics
Aptevo Therapeutics Inc. (Nasdaq:APVO) is a clinical-stage biotechnology company focused on developing novel bispecific and trispecific immunotherapies for the treatment of cancer. The Company has two clinical candidates. Mipletamig is currently being evaluated in RAINIER, a two-part Phase 1b/2 trial for the treatment of frontline acute myeloid leukemia in combination with standard-of-care venetoclax + azacitidine. Mipletamig has received orphan drug designation ("orphan status") for AML according to the Orphan Drug Act. ALG.APV-527, a bispecific conditional 4-1BB agonist, designed to only be active upon simultaneous binding to 4-1BB and 5T4, is being co-developed with Alligator Bioscience and was most recently evaluated in a Phase 1 clinical trial for the treatment of multiple solid tumor types likely to express 5T4. The Company has six preclinical candidates with different mechanisms of action designed to target a range of solid tumors. All pipeline candidates were created from two proprietary platforms, ADAPTIRand ADAPTIR-FLEX. The Aptevo mission is to improve treatment outcomes and transform the lives of cancer patients. For more information, please visit www.aptevotherapeutics.com.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, Aptevo's expectations about the activity, efficacy, safety, tolerability and durability of its therapeutic candidates and potential use of any such candidates, including in combination with other drugs, as therapeutics for treatment of disease, its expectations regarding the effectiveness of its ADAPTIR and ADAPTIR-FLEX platforms, statements related to the progress of Aptevo's clinical programs, including statements related to anticipated clinical and regulatory milestones, whether further study of mipletamig in a Phase 1b dose optimization trial focusing on multiple doses of mipletamig in combination with venetoclax + azacitidine on a targeted patient population will continue to show remissions, let alone at a rate of
There are several important factors that could cause Aptevo's actual results to differ materially from those indicated by such forward-looking statements, including a deterioration in Aptevo's business or prospects; further assessment of preliminary or interim data or different results from later clinical trials; adverse events and unanticipated problems, adverse developments in clinical development, including unexpected safety issues observed during a clinical trial; and changes in regulatory, social, macroeconomic and political conditions. For instance, actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties inherent in the results of preliminary or interim data and preclinical studies being predictive of the results of later-stage clinical trials, initiation, enrollment and maintenance of patients, and the completion of clinical trials, the availability and timing of data from ongoing clinical trials, the trial design includes combination therapies that may make it difficult to accurately ascertain the benefits of mipletamig, expectations for the timing and steps required in the regulatory review process, expectations for regulatory approvals, the impact of competitive products, our ability to enter into agreements with strategic partners or raise funds on acceptable terms or at all and other matters that could affect the availability or commercial potential of Aptevo's product candidates, business or economic disruptions due to catastrophes or other events, including natural disasters or public health crises , geopolitical risks, including the current war between Russia and Ukraine, the war between United States and Iran and any other military event that could evolve out of any of the current conflicts, and macroeconomic conditions such as economic uncertainty, imposition of tariffs, rising inflation and interest rates, continued market volatility and decreased consumer confidence. These risks are not exhaustive, Aptevo faces known and unknown risks. Additional risks and factors that may affect results are set forth in Aptevo's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and its subsequent reports on Form 10-Q and current reports on Form 8-K. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Aptevo's expectations in any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not assume any obligation to update any forward-looking statement to reflect new information, events, or circumstances.
CONTACT:
Miriam Weber Miller
VP, Investor Relations & Corporate Communications
Aptevo Therapeutics
Email: IR@apvo.com or Millerm@apvo.com
Phone: 206-859-6628
SOURCE: Aptevo Therapeutics
View the original press release on ACCESS Newswire