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SEATTLE - Aptevo Therapeutics Inc. (NASDAQ:APVO), a biotech company with a current market capitalization of $2.73 million, has closed its previously announced registered direct offering, raising approximately $8 million in gross proceeds, according to a statement released Friday. According to InvestingPro data, the company’s shares have shown significant volatility, with a notable return of nearly 17% over the past week.
The clinical-stage biotechnology company sold 2,465,000 shares of common stock or pre-funded warrants, along with warrants to purchase up to 12,325,000 additional shares. The offering was priced at $3.25 per share with associated warrants under Nasdaq rules. InvestingPro analysis indicates the company faces financial challenges, with a current ratio of 0.67 suggesting short-term obligations exceed liquid assets.
Each share came with five common warrants, each allowing the purchase of one additional share at an exercise price of $3.25. These warrants will become exercisable upon stockholder approval and will expire five years after that approval.
Roth Capital Partners served as the placement agent for the transaction. Aptevo plans to use the net proceeds to continue clinical development of its product candidates, for working capital, and other general corporate purposes.
The securities were offered through registration statements that became effective on June 18, 2025. The company’s filing included Form S-1 (File No. 333-288061) and Form S-1MEF (File No. 333-288134).
Aptevo Therapeutics focuses on developing immune-oncology therapies based on its proprietary ADAPTIR and ADAPTIR-FLEX platform technologies. The company aims to improve treatment outcomes for cancer patients through its clinical programs. InvestingPro reveals additional insights about the company’s financial health, with an overall score of 1.4 (labeled as ’WEAK’). Subscribers can access 12 more exclusive ProTips and detailed financial metrics to make more informed investment decisions.
The offering was made only by means of a prospectus forming part of the effective registration statement.
In other recent news, Aptevo Therapeutics reported compelling results for its mipletamig treatment, achieving an 85% remission rate in frontline acute myeloid leukemia (AML) patients unfit for intensive chemotherapy. This outcome was part of the ongoing Phase 1b/2 RAINIER trial, demonstrating a strong safety profile with no cytokine release syndrome observed. The company also announced the addition of APVO455, a preclinical Nectin-4 x CD3 bispecific T-cell engager, to its immuno-oncology pipeline. This new therapy targets solid tumors such as bladder, breast, non-small cell lung cancer, and head and neck cancers. Furthermore, Aptevo secured approximately $8 million through a registered direct offering, with plans to use the proceeds for clinical development and general corporate purposes. The company enacted a 1-for-20 reverse stock split to maintain compliance with Nasdaq listing standards, reducing outstanding shares significantly. Aptevo’s recent developments reflect its ongoing focus on developing novel bispecific immunotherapies based on its proprietary ADAPTIR and ADAPTIR-FLEX platform technologies.
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