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SEATTLE - Aptevo Therapeutics Inc. (NASDAQ:APVO), a biotech firm specializing in cancer immunotherapies, has initiated a securities purchase agreement for a registered direct offering of 1,764,710 common stock shares. The company, currently valued at $2 million in market capitalization, has seen its stock price decline 99% over the past year, though it showed signs of recovery with a 10% gain in the past week. Concurrently, the company will sell warrants to purchase up to 3,529,420 shares in a private placement. Both transactions are set at a combined price of $1.19 per share and accompanying warrant, with the offering expected to close on or about April 4, 2025, pending customary closing conditions. According to InvestingPro data, Aptevo maintains a positive aspect by holding more cash than debt on its balance sheet, though analysts don’t expect profitability this year. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
The warrants, exercisable upon shareholder approval following issuance, will be valid for five years from the initial exercise date. Roth Capital Partners is the exclusive placement agent for this offering. Aptevo anticipates gross proceeds of approximately $2.1 million, before placement agent fees and other estimated expenses are deducted. The company plans to allocate the net proceeds towards clinical development of its product candidates, working capital, and general corporate purposes.
Aptevo’s securities offering is based on an effective shelf registration statement previously filed with the SEC. The prospectus supplement, part of the registration statement, will be filed with the SEC, and electronic copies will be available on the SEC’s website or through Roth Capital Partners.
Additionally, the company has agreed to amend certain existing warrants issued on December 12, 2024, reducing their exercise price to $1.19 per share, with the adjustment effective upon the offering’s closing.
Aptevo Therapeutics is engaged in advancing novel bispecific immunotherapies for cancer treatment, with two clinical candidates and three pre-clinical candidates developed from its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platforms. The company’s mission is to transform cancer treatment outcomes. InvestingPro analysis indicates the company currently trades below its Fair Value, with a current ratio of 1.72 suggesting adequate liquidity to meet short-term obligations. Discover detailed valuation metrics and comprehensive financial analysis with an InvestingPro subscription.
The press release includes forward-looking statements, and investors are cautioned that actual results could vary due to underlying assumptions or known and unknown risks and uncertainties. Factors that may affect Aptevo’s actual results include market conditions, regulatory approvals, competitive products, and other risks detailed in the company’s SEC filings.
This news is based on a press release statement and does not constitute an offer to sell or a solicitation to buy Aptevo’s common stock.
In other recent news, Aptevo Therapeutics has reported advancements in its cancer treatment pipeline, particularly with its preclinical compound APVO603. This bispecific antibody is designed to target solid tumors by stimulating immune responses through the 4-1BB and OX40 receptors, potentially offering a safer and more effective treatment option. The company’s preclinical studies suggest that APVO603 could enhance T cell and NK cell activity, which may lead to improved tumor destruction and reduced immune exhaustion. Additionally, Aptevo’s clinical development includes Mipletamig, which is in a Phase 1b/2 trial for acute myeloid leukemia, showing a 100% remission rate in early results. Another candidate, ALG.APV-527, is being tested in collaboration with Alligator Bioscience for solid tumors, with positive safety and tolerability outcomes. Aptevo’s pipeline also features APVO711 and APVO442, targeting various cancer types, showcasing their focus on innovative immunotherapies. The company utilizes its proprietary ADAPTIR® and ADAPTIR-FLEX® platforms to support these developments. These recent updates highlight Aptevo’s ongoing efforts in advancing cancer treatment options.
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