Aptevo Therapeutics Inc Stock Price, News & Analysis

Aptevo Therapeutics Inc. (NASDAQ:APVO) announced an unsolicited non-binding offer from Tang Capital Partners, LP to acquire all outstanding shares of Aptevo not already owned for $50.00 per share. The Board of Directors will evaluate this proposal while fulfilling their fiduciary duties. They caution that no decisions have been made and that there are no guarantees of an accepted definitive offer. Shareholders do not need to act at this time. Aptevo is a biotechnology company focused on developing immuno-oncology therapeutics using its ADAPTIR™ technology.

Aptevo Therapeutics and Alligator Bioscience announced a partnership to advance ALG.APV-527, a bispecific antibody targeting solid tumors expressing 5T4. The drug is entering Phase 1 clinical development, with plans to file for Clinical Trial Authorization in early 2021.

Recent data from another candidate, APVO436, showing complete remission in patients enhances confidence in ALG.APV-527's potential. The collaboration aims to explore licensing opportunities as clinical development progresses.

Aptevo Therapeutics reported a net loss of $6.8 million for Q3 2020, slightly improved from $6.9 million in Q3 2019. The company generated $1.5 million in royalties from Pfizer's RUXIENCE, resulting in a 209% increase from the previous quarter. R&D expenses decreased to $4.5 million from $7.6 million in 2019, primarily due to COVID-19 impacts. Aptevo's cash reserves stood at $27.5 million, extending its runway into 2022. The Phase 1/1b trial for APVO436 continues, with promising preliminary results showing complete remission in two patients.

Aptevo Therapeutics Inc. (NASDAQ:APVO) announced its participation in the 35th Virtual Annual Meeting of the Society for Immunotherapy of Cancer (SITC) from November 9-14, 2020. The company will present two posters showcasing advances in its therapies: APVO603, which enhances anti-tumor responses, and ALG.APV-527, which shows a favorable safety profile. Live Q&A sessions for both presentations are scheduled for November 11 and 13. These developments highlight Aptevo's commitment to innovative cancer treatment using its proprietary ADAPTIR bispecific technology.

Aptevo Therapeutics has announced a significant update on its APVO436 Phase 1 trial for acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

On November 6, the company reported a second complete remission in Cohort 6, bringing the total to two out of nine patients in this group. Data showed one patient with stable disease, while six experienced disease progression. Enrollment in Cohort 8 has commenced, and preliminary pharmacokinetic modeling indicates potential for clinical activity in upcoming cohorts.

Aptevo's proprietary ADAPTIR platform underpins this promising therapy, positioning it as a cost-effective alternative to traditional CAR-T therapies.

Aptevo Therapeutics (NASDAQ:APVO) has adopted a limited duration stockholder rights plan to protect its interests and those of its shareholders. Effective from November 8, 2020, the plan will distribute one right for each share of common stock, with a record date of November 23, 2020. The rights become exercisable if a person or group acquires 10% or more of the company's stock without Board approval, allowing existing shareholders to purchase additional shares at a favorable valuation. The plan is set to expire on November 8, 2021.

Aptevo Therapeutics announced significant progress in its ongoing APVO436 Phase 1 clinical trial for treating acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). A patient in cohort 6 achieved complete remission, with bone marrow blasts decreasing from 29% to 0% after two cycles of treatment. As dosing continues in cohort 7, pharmacokinetic modeling suggests dosing in cohorts 5-8 may yield further clinical responses. Aptevo’s ADAPTIR™ technology is highlighted as a more convenient and cost-effective option compared to traditional CAR-T therapies.

Aptevo Therapeutics (NASDAQ:APVO) announced progress in its APVO436 Phase 1/1b clinical trial, with two patients dosed in cohort 7. A total of 30 patients have been treated, showing no dose-limiting toxicities or drug-induced anti-drug antibodies to date. Preliminary evidence suggested clinical responses in some patients, particularly in cohort 4, which is noteworthy despite one patient's disease progression. The trial is entering a critical stage, with dosing now in a therapeutic range, enhancing prospects for clinical activity.

Aptevo Therapeutics (NASDAQ: APVO) released its second quarter 2020 financial results, reporting a net loss of $6.8 million or $2.10 per share, a significant decrease from a $13.3 million loss in Q2 2019. The company generated $0.5 million in royalty revenue from Pfizer's RUXIENCE sales, marking its entry into non-dilutive revenue streams. Cash and equivalents stood at $10.2 million, bolstered by a $25 million loan, ensuring operations through Q3 2021. Clinical developments include completion of cohort 6 in the APVO436 trial for AML and high-grade MDS, with promising preclinical data for ALG.APV-527.