Aptevo Therapeutics announces $2 million stock offering

SEATTLE - Aptevo Therapeutics Inc. (NASDAQ:APVO), a biotech firm engaged in the development of cancer immunotherapies, has entered into agreements for a registered direct offering of common stock which is expected to close on April 22, 2025, with Roth Capital Partners serving as the exclusive placement agent. The sale of 2,324,000 shares is priced at $0.862 per share, aiming to raise approximately $2 million before fees and expenses. The offering comes as the stock has experienced significant volatility, with InvestingPro data showing a 90% decline over the past six months and current market capitalization of just $2.9 million.

The proceeds are intended for clinical development of the company’s product pipeline, working capital, and other corporate purposes. Aptevo’s ongoing projects include the RAINIER trial for Mipletamig in acute myeloid leukemia and a Phase 1 trial for ALG.APV-527 targeting multiple solid tumor types. According to InvestingPro analysis, the company maintains a current ratio of 1.72 and holds more cash than debt on its balance sheet, though analysts do not expect profitability in the current fiscal year.

The offering relies on a shelf registration statement previously filed with the SEC and is made through a prospectus supplement part of the effective registration statement. The company has cautioned that the forward-looking statements in the press release are subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations.

Aptevo’s pipeline features candidates derived from its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platforms, including three pre-clinical candidates targeting various solid tumors. The company’s mission is to transform cancer treatment outcomes.

This funding move comes amidst a backdrop of regulatory, market, and macroeconomic uncertainties, including the ongoing impact of COVID-19 and geopolitical tensions. The company’s statements include the usual caveats regarding the predictive value of preliminary and preclinical data, regulatory processes, potential competitive products, and partnership or funding opportunities.

The information presented here is based on a press release statement and does not imply an endorsement of Aptevo’s claims or future prospects. Investors are advised to consider the inherent risks detailed in Aptevo’s SEC filings, including its most recent Annual Report and subsequent current reports on Form 8-K. InvestingPro subscribers can access 10+ additional investment tips and comprehensive financial metrics to better evaluate the company’s investment potential.

In other recent news, Aptevo Therapeutics announced a registered direct offering involving 1,764,710 common stock shares and warrants for up to 3,529,420 shares at a combined price of $1.19 per share and warrant. The offering is expected to generate approximately $2.1 million in gross proceeds, which will be directed toward clinical development, working capital, and general corporate purposes. Roth Capital Partners serves as the exclusive placement agent for this transaction. Additionally, Aptevo has amended certain existing warrants to reduce their exercise price to $1.19 per share, effective upon the offering’s closing. In its pipeline, Aptevo is advancing APVO603, a bispecific antibody in the preclinical phase targeting solid tumors, which has shown potential to enhance T cell and NK cell activity. The company’s lead candidate, Mipletamig, is in a Phase 1b/2 trial for acute myeloid leukemia, demonstrating a 100% remission rate in early results. Another candidate, ALG.APV-527, is in a Phase 1 trial for solid tumors, with positive safety and tolerability outcomes. Aptevo’s efforts are supported by its proprietary ADAPTIR® and ADAPTIR-FLEX® platforms, which underpin its development of innovative cancer treatments.

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