Aptevo Therapeutics Inc Stock Price, News & Analysis

Aptevo Therapeutics (NASDAQ:APVO) has initiated the Phase 1b/2 'RAINIER' trial for its lead candidate mipletamig (formerly APVO436) in combination with venetoclax and azacitidine for frontline acute myeloid leukemia (AML) patients. The study aims to identify the recommended Phase 2 dose and evaluate safety, tolerability, and efficacy. Previous trials showed promising results, including a 75% complete response rate among frontline patients and efficacy outcomes more than double the benchmarks. The multi-center, open-label dose-finding study will enroll up to 39 patients across five dose levels. Primary endpoints include safety assessment, determining the maximum tolerated dose, and evaluating cytokine release syndrome incidence.

Aptevo Therapeutics (NASDAQ:APVO) reported its Q2 2024 financial results and provided a business update. Key highlights include:

• Successful completion of APVO436 dose expansion trial with a 91% clinical benefit rate
• Plans to initiate Phase 1b/2 dose optimization study for APVO436 in AML treatment
• Ongoing Phase 1 trial for ALG.APV-527 in solid tumors with promising preliminary data
• $2.75 million registered direct offering extending cash runway into 2025
• Q2 2024 net loss of $5.9 million or $1.67 per share, compared to $7.9 million or $53.95 per share in Q2 2023
• Cash position of $8.1 million as of June 30, 2024, with proforma $10.4 million including recent equity raise

Aptevo Therapeutics, a clinical-stage biotech firm, announced the closing of a $2.75 million offering. This includes the issuance of 5,339,806 shares of common stock or pre-funded warrants and 10,679,612 common warrants, priced at $0.515 per share. The warrants have an exercise price of $0.515 per share, becoming exercisable upon stockholder approval and expiring in five years. Roth Capital Partners acted as the placement agent. The net proceeds will fund clinical development, working capital, and general corporate purposes. Additionally, certain existing warrants have been amended to a reduced exercise price of $0.515 per share.

Aptevo Therapeutics (Nasdaq: APVO) announced a $2.75 million securities offering priced at-the-market under Nasdaq rules. The offering includes 5,339,806 shares of common stock or pre-funded warrants and warrants to purchase 10,679,612 shares at $0.515 per share. The offering is expected to close around July 1, 2024, with gross proceeds estimated at $2.3 million. The net proceeds will be used for clinical development, working capital, and general corporate purposes. Additionally, existing warrants issued in August 2023, November 2023, and April 2024 will be amended to have a reduced exercise price of $0.515 per share.

Aptevo Therapeutics (Nasdaq: APVO), a clinical-stage biotech firm, is attending the BIO International Convention in San Diego from June 3-6, 2024. The conference, the largest in the biotechnology sector, is projected to draw over 18,000 attendees globally. Representing Aptevo are Dr. Michelle N. Nelson, Director of Immunobiology, and SoYoung Kwon, SVP, General Counsel, and Head of Business Development. Aptevo specializes in immuno-oncology therapeutics using its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platforms.

Aptevo Therapeutics (NASDAQ: APVO) announced its participation in The Protein & Antibody Engineering Summit (PEGS) in Boston, MA, where they will present their strategies for designing bispecific drug candidates. Dr. Peter Pavlik, Senior Director of Protein Engineering, will lead the session, focusing on early functional screening and multiple screening formats to predict outcomes. The company has developed a portfolio of candidates, including clinical-stage APVO436 and ALG.APV-527 and preclinical APVO603, APVO711, and APVO442. Recent clinical updates include a breast cancer patient in the ALG.APV-527 trial showing stable disease for over eleven months and plans to start a dose optimization trial for APVO436 in AML patients in Q2 2024.

Aptevo Therapeutics Inc. reported positive outcomes from its clinical trials, with a breast cancer patient showing stable disease for over eleven months on a higher dose level. The company is set to start a dose optimization trial for APVO436 in 2Q 2024. Financially, Aptevo's cash position was $10.3 million as of March 31, 2024, with reduced research and development expenses and general administrative expenses. However, the company reported a net loss of $6.8 million for the quarter.