Aptevo Therapeutics Announces 1-for-18 Reverse Stock Split

Rhea-AI Summary

Aptevo Therapeutics (NASDAQ:APVO) will implement a 1-for-18 reverse stock split, effective December 29, 2025 at 5:01 p.m. ET, with split-adjusted trading expected to begin on Nasdaq at market open on December 30, 2025.

Every 18 pre-split shares will convert into one post-split share, reducing outstanding common stock from approximately 18 million to approximately 1 million (subject to rounding and issuances). The company will not change its trading symbol APVO. Outstanding options, RSUs, warrants and equity-plan share counts will be adjusted; fractional shares will be cashed out. The split was approved by stockholders July 24, 2025 and the board set the final ratio on December 17, 2025.

Positive

• Reverse split ratio is 1-for-18
• Outstanding shares reduced from ~18M to ~1M
• Effective time set for Dec 29, 2025 5:01 p.m. ET
• Trading on Nasdaq will be split-adjusted at market open Dec 30, 2025

Negative

• No fractional shares issued; affected holders receive cash payment
• All options, RSUs, warrants and equity-plan shares will be adjusted

News Market Reaction

-34.73% 5.5x vol

54 alerts

-34.73% News Effect

-43.1% Trough in 2 hr 24 min

-$8M Valuation Impact

$16M Market Cap

5.5x Rel. Volume

On the day this news was published, APVO declined 34.73%, reflecting a significant negative market reaction. Argus tracked a trough of -43.1% from its starting point during tracking. Our momentum scanner triggered 54 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $8M from the company's valuation, bringing the market cap to $16M at that time. Trading volume was exceptionally heavy at 5.5x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Reverse split ratio: 1-for-18 Pre-split shares: approximately 18 million Post-split shares: approximately 1 million +5 more

8 metrics

Reverse split ratio 1-for-18 Reverse stock split of common shares

Pre-split shares approximately 18 million Outstanding common stock before reverse split

Post-split shares approximately 1 million Outstanding common stock after reverse split

Effective time 5:01 p.m. ET, Dec 29, 2025 Reverse split effectiveness

Split-adjusted trading Dec 30, 2025 Nasdaq Capital Market split-adjusted start date

Par value $0.001 per share Par value of common stock unchanged post-split

Share price $0.9301 Last price before reverse split news

52-week high vs price -99.15% Distance from 52-week high of $109.8

Market Reality Check

Price: $6.95 Vol: Volume 907,703 is at 0.84...

normal vol

$6.95 Last Close

Volume Volume 907,703 is at 0.84x the 20-day average, suggesting no unusual pre-news activity. normal

Technical Shares at 0.9301 are trading below the 200-day MA of 7.2, reflecting a prolonged downtrend ahead of the reverse split.

Peers on Argus

APVO was down 8.81% while closely ranked biotech peers showed mixed moves (e.g.,...

1 Up

APVO was down 8.81% while closely ranked biotech peers showed mixed moves (e.g., XBIO -0.9%, ONCO -7.88%, QNRX +5.14%), pointing to a largely stock-specific setup rather than a broad sector trend.

Historical Context

5 past events · Latest: Dec 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 09	Clinical data update	Positive	-7.5%	Strong RAINIER AML data with high remission and clean safety profile.
Nov 10	Preclinical data	Positive	+6.1%	First trispecific APVO451 data showing tumor-localized immune activation.
Nov 06	Earnings and update	Positive	+2.8%	Q3 results, strong AML remission data and expanded CD3 portfolio plus financing.
Oct 08	Conference plans	Neutral	-2.8%	Announcement of multiple Q4 conference presentations and investor meetings.
Sep 16	Clinical data update	Positive	+4.2%	RAINIER Cohort 3 showing 100% remission and favorable safety in AML.

Pattern Detected

Recent clinically positive or strategic news often saw modest price gains, but one major positive data update drew a negative reaction, showing occasional divergence between fundamentals and trading.

Recent Company History

Over the last six months, Aptevo reported multiple positive AML data updates and new trispecific programs, alongside financing that lifted cash to $21.1M and extended runway into 4Q26. A prior 1-for-20 reverse split in May 2025 sharply reduced outstanding shares. Several scientifically strong announcements saw mixed price reactions, including a -7.46% move after compelling RAINIER data and a +6.12% move on APVO451 preclinical results. Today’s reverse split fits into this pattern of corporate actions reshaping the capital structure amid ongoing clinical progress.

Market Pulse Summary

The stock dropped -34.7% in the session following this news. A negative reaction despite the mechani...

Analysis

The stock dropped -34.7% in the session following this news. A negative reaction despite the mechanical nature of a reverse split would have fit APVO’s history of volatility around capital structure events. The stock was already down 99.15% from its $109.8 52-week high and trading well below the 200-day MA, so additional pressure could have reflected investor caution about dilution and prior reverse split outcomes, including a -21.05% move after the May 2025 split, rather than any new clinical signal.

Key Terms

reverse stock split, par value, Nasdaq Capital Market, options, +4 more

8 terms

reverse stock split financial

"today announced that it will conduct a reverse stock split of its outstanding shares"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

par value financial

"common stock, par value $0.001 per share ("Common Stock")"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

Nasdaq Capital Market regulatory

"trading on the Nasdaq Capital Market, on a split-adjusted basis"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

options financial

"All outstanding options, restricted stock units, warrants, and other securities"

Options are contracts that give investors the right to buy or sell an asset at a specific price within a certain time frame. They function like a reservation or a ticket that allows for potential profit or protection against price changes, making them useful tools for managing investment risks or speculating on market movements.

restricted stock units financial

"All outstanding options, restricted stock units, warrants, and other securities"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

warrants financial

"All outstanding options, restricted stock units, warrants, and other securities"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

proxy statement regulatory

"available in the Company's definitive proxy statement filed with the U.S. SEC"

A proxy statement is a document companies send to shareholders ahead of a meeting that lays out the items up for a vote—like who will sit on the board, executive pay, and major corporate decisions—and provides background so shareholders can decide how to cast their votes or appoint someone to vote for them. Think of it as an agenda plus a ballot and briefing notes, important because the outcomes can change control, strategy, and value.

Form 8-K regulatory

"and a Current Report on Form 8-K which the Company plans to file"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

AI-generated analysis. Not financial advice.

SEATTLE, WA / ACCESS Newswire / December 26, 2025 / Aptevo Therapeutics Inc. (NASDAQ:APVO), a clinical-stage biotechnology company focused on developing novel immune-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, today announced that it will conduct a reverse stock split of its outstanding shares of common stock, par value $0.001 per share ("Common Stock"), at a ratio of 1-for-18 (the "Reverse Stock Split").

The Reverse Stock Split is expected to become effective on December 29, at 5:01 p.m. Eastern Time (the "Effective Time"), with shares expected to begin trading on the Nasdaq Capital Market, on a split-adjusted basis, at market open on December 30, 2025. In connection with the Reverse Stock Split, every 18 shares of Common Stock issued and outstanding as of the Effective Time will be automatically converted into one share of Common Stock. No change will be made to the trading symbol for the Common Stock, "APVO," in connection with the Reverse Stock Split.

The Reverse Stock Split was approved by the Company's stockholders at the Company's Annual Meeting of Stockholders held on July 24, 2025 (the "Annual Meeting") to be effected in the Board's discretion within approved parameters. Following the Annual Meeting, the final ratio was approved by the Company's Board on December 17, 2025.

The Reverse Stock Split will reduce the number of shares of outstanding Common Stock from approximately 18 million shares (as of the date of this press release) to approximately 1 million shares, subject to adjustment for rounding, as discussed below and potential additional issuances through the effective date of the Reverse Stock Split.

The Reverse Stock Split will affect all issued and outstanding shares of Common Stock. All outstanding options, restricted stock units, warrants, and other securities entitling their holders to purchase or otherwise receive shares of Common Stock will be adjusted as a result of the reverse split, as required by the terms of each security. The number of shares available to be awarded under the Company's equity incentive plans will also be appropriately adjusted. Following the reverse split, the par value of the Common Stock will remain unchanged at $0.001 par value per share. The Reverse Stock Split will not change the authorized number of shares of Common Stock or preferred stock. No fractional shares will be issued in connection with the Reverse Stock Split, and stockholders who would otherwise be entitled to receive a fractional share of Common Stock will be entitled to receive a cash payment (without interest).

Additional information regarding the Reverse Stock Split is available in the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission ("SEC") on July 3, 2025, and a Current Report on Form 8-K which the Company plans to file following the Effective Time.

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, only 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.

Forward-Looking Statements
This press release includes "forward-looking statements", including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions provided under federal securities laws, including under The Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, our ability to continue as a going concern; 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 and adverse developments in clinical development, including unexpected safety issues observed during a clinical trial; and changes in regulatory, social, macroeconomic and political conditions. These risks are not exhaustive, the Company faces known and unknown risks. Additional risks and factors that may affect results of the Company are set forth in the Company's filings with the SEC, 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 the Company's expectations in any forward-looking statement. Readers are cautioned not to place undue reliance upon any forward-looking statements, including but not limited to statements about the effectuation of the Reverse Stock Split. These reports and filings are available at www.sec.gov and are available for download, free of charge, soon after such reports are filed with or furnished to the SEC, on the "Investors" page of the Company's website at www.apvotherapeutics.com. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, the Company does not assume any obligation to update any forward-looking statement to reflect new information, events, or circumstances.

Contact:
Miriam Weber Miller
Head, 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

FAQ

What is the reverse stock split ratio for Aptevo (NASDAQ:APVO)?

Aptevo is implementing a 1-for-18 reverse stock split.

When does the Aptevo (APVO) reverse split become effective?

The Reverse Stock Split is effective Dec 29, 2025 at 5:01 p.m. ET.

When will APVO shares trade on a split-adjusted basis on Nasdaq?

Split-adjusted trading is expected to begin at market open on Dec 30, 2025.

How many Aptevo shares will be outstanding after the 1-for-18 reverse split?

Outstanding common stock is expected to fall from about 18 million to about 1 million, subject to rounding.

Will Aptevo change its ticker symbol after the reverse split?

No. The company will continue to trade under the ticker APVO.

What happens to fractional shares and equity awards in Aptevo's reverse split?

No fractional shares will be issued; holders of fractional shares will receive a cash payment, and options, RSUs, warrants and plan shares will be adjusted per their terms.