Aptevo Therapeutics $2.0 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
Aptevo Therapeutics (Nasdaq: APVO), a clinical-stage biotechnology company specializing in immune-oncology therapeutics, has announced a $2.0 million registered direct offering of common stock. The company will sell 2,324,000 shares at $0.862 per share, with the offering expected to close around April 22, 2025.
Roth Capital Partners is serving as the exclusive placement agent. The proceeds will support clinical development of product candidates, working capital, and general corporate purposes. The offering is being conducted under an existing shelf registration statement on Form S-3 previously filed with the SEC.
Aptevo Therapeutics (Nasdaq: APVO), un'azienda biotecnologica in fase clinica specializzata in terapie di immuno-oncologia, ha annunciato un offerta diretta registrata da 2,0 milioni di dollari di azioni ordinarie. La società venderà 2.324.000 azioni a 0,862 dollari per azione, con la chiusura dell'offerta prevista intorno al 22 aprile 2025.
Roth Capital Partners agisce come agente di collocamento esclusivo. I proventi sosterranno lo sviluppo clinico dei candidati al prodotto, il capitale operativo e le finalità aziendali generali. L'offerta viene effettuata nell'ambito di una dichiarazione di registrazione esistente su modulo S-3 precedentemente depositata presso la SEC.
Aptevo Therapeutics (Nasdaq: APVO), una empresa biotecnológica en etapa clínica especializada en terapias de inmuno-oncología, ha anunciado una oferta directa registrada de 2,0 millones de dólares de acciones ordinarias. La compañía venderá 2.324.000 acciones a 0,862 dólares por acción, con el cierre de la oferta previsto alrededor del 22 de abril de 2025.
Roth Capital Partners actúa como agente de colocación exclusivo. Los ingresos apoyarán el desarrollo clínico de los candidatos a producto, el capital de trabajo y los propósitos corporativos generales. La oferta se realiza bajo una declaración de registro existente en el Formulario S-3 previamente presentada ante la SEC.
Aptevo Therapeutics (나스닥: APVO)는 면역 항암 치료제를 전문으로 하는 임상 단계 바이오테크 기업으로, 200만 달러 규모의 등록 직접 공모를 발표했습니다. 회사는 2,324,000주를 주당 0.862달러에 판매할 예정이며, 공모 마감일은 2025년 4월 22일경으로 예상됩니다.
Roth Capital Partners가 단독 배정 대행사로 활동합니다. 이번 공모 자금은 제품 후보물질의 임상 개발, 운전자본 및 일반 기업 목적에 사용될 예정입니다. 공모는 SEC에 사전 제출된 기존의 S-3 양식 등록 명세서에 따라 진행됩니다.
Aptevo Therapeutics (Nasdaq : APVO), une société biotechnologique en phase clinique spécialisée dans les thérapies d'immuno-oncologie, a annoncé une offre directe enregistrée de 2,0 millions de dollars d'actions ordinaires. La société vendra 2 324 000 actions au prix de 0,862 dollar par action, avec une clôture prévue de l'offre autour du 22 avril 2025.
Roth Capital Partners agit en tant qu'agent de placement exclusif. Les fonds serviront à soutenir le développement clinique des candidats médicaments, le fonds de roulement et les besoins généraux de l'entreprise. L'offre est réalisée dans le cadre d'une déclaration d'enregistrement existante sur le formulaire S-3 déposée précédemment auprès de la SEC.
Aptevo Therapeutics (Nasdaq: APVO), ein biotechnologisches Unternehmen in der klinischen Phase, das sich auf Immunonkologie-Therapeutika spezialisiert hat, hat ein direktes registriertes Angebot über 2,0 Millionen US-Dollar von Stammaktien angekündigt. Das Unternehmen wird 2.324.000 Aktien zu je 0,862 US-Dollar verkaufen, wobei der Abschluss des Angebots voraussichtlich um den 22. April 2025 erfolgt.
Roth Capital Partners fungiert als exklusiver Platzierungsagent. Die Erlöse werden die klinische Entwicklung von Produktkandidaten, das Betriebskapital und allgemeine Unternehmenszwecke unterstützen. Das Angebot erfolgt im Rahmen einer bestehenden Shelf-Registrierungserklärung auf Formular S-3, die zuvor bei der SEC eingereicht wurde.
- Secured $2.0 million in additional funding through registered direct offering
- Funding will support continued clinical development of product candidates
- Low offering price indicates potential undervaluation of stock
- Dilutive impact on existing shareholders
- Small offering size suggests funding runway
Insights
Aptevo's $2M offering severely dilutes existing shareholders, representing over 60% of current market cap despite providing needed clinical development funding.
Aptevo Therapeutics has announced a
The offering is priced "at-the-market," which means shareholders aren't facing the additional negative impact of a discounted share price that's common in biotech fundraising. However, the dilution remains substantial - this offering represents approximately
For clinical-stage biotechnology companies like Aptevo, which is developing novel immune-oncology therapeutics, regular capital infusions are essential to fund research and development activities. The company has specifically indicated that proceeds will support continued clinical development of its product candidates based on their proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, along with working capital needs.
The transaction is expected to close around April 22, with Roth Capital Partners serving as the exclusive placement agent. This capital raise should provide Aptevo with additional runway to advance its clinical programs, but comes at a considerable cost to shareholder value due to the substantial dilution.
Small-cap biotechnology companies often face difficult tradeoffs between raising necessary capital and minimizing dilution. In this case, the relative size of the offering compared to the company's market value indicates a significant ownership rebalancing that overshadows the positive aspect of securing additional development funding.
SEATTLE, WASHINGTON / ACCESS Newswire / April 21, 2025 / Aptevo Therapeutics Inc. (Nasdaq:APVO) ("Aptevo" or the "Company"), a clinical-stage biotechnology company focused on developing novel immune-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, announced today that it has entered into definitive securities purchase agreements for the purchase and sale of 2,324,000 shares of the Company's common stock in a registered direct offering (the "offering") at a purchase price of
Roth Capital Partners is acting as the exclusive placement agent for the offering.
Aptevo expects the gross proceeds from the offering to be approximately
A shelf registration statement on Form S-3 (File No. 333-284969) relating to the shares of common stock to be issued in the registered direct offering was previously filed with the Securities and Exchange Commission (the "SEC") and is currently effective. The registered direct offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the registered direct offering that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, by phone at (800) 678-9147 or by email at rothecm@roth.com.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of common stock, nor will there be any sale of the shares of common stock in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About Aptevo Therapeutics
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing novel bispecific immunotherapies for the treatment of cancer. The company has two clinical candidates. Mipletamig is currently being evaluated in RAINIER, a 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, only active upon simultaneous binding to 4-1BB and 5T4, is being co-developed with Alligator Bioscience and is being evaluated in a Phase 1 clinical trial for the treatment of multiple solid tumor types likely to express 5T4. The Company has three pre-clinical candidates with different mechanisms of action designed to target a range of solid tumors. All pipeline candidates were created from two proprietary platforms, ADAPTIR® and 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, statements regarding the completion, timing, size and use of proceeds of the offering, the satisfaction of customary closing conditions related to the offering and any other statements containing the words "may," "continue to," "believes," "expects," "optimism," "potential," "designed," "promising," "plans," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Aptevo's current intentions, beliefs, and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement.
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; uncertainties related to market conditions, the satisfaction of customary closing conditions related to the offering, compliance with Nasdaq listing requirements, 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 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 APVO436, 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 such as the coronavirus (referred to as COVID-19), geopolitical risks, including the current war between Russia and Ukraine, war between Israel and Hamas, and macroeconomic conditions such as economic uncertainty, rising inflation and interest rates, increased 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 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
Aptevo Therapeutics
Email: IR@apvo.com or Millerm@apvo.com
Phone: 206-859-6628
SOURCE: Aptevo Therapeutics
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