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SEATTLE - Aptevo Therapeutics Inc. (NASDAQ:APVO), whose stock has declined over 96% year-to-date according to InvestingPro data, has secured approximately $8 million in gross proceeds through a registered direct offering priced at-the-market under Nasdaq rules, according to a press release issued Wednesday.
The clinical-stage biotechnology company, currently valued at $6.5 million in market capitalization, entered into securities purchase agreements with healthcare-focused and institutional investors to sell 2,465,000 shares of common stock or pre-funded warrants at $3.25 per share. Each share comes with five common warrants to purchase additional shares at the same price.
The common warrants will be exercisable upon stockholder approval and will expire five years after that approval date. The offering is expected to close around June 20, 2025, subject to customary closing conditions.
Roth Capital Partners is serving as 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 company focuses on developing immune-oncology therapeutics based on its proprietary ADAPTIR and ADAPTIR-FLEX platform technologies. The securities are being offered through a registration statement on Form S-1 that was declared effective by the SEC on June 18, 2025.
This financing comes as Aptevo continues advancing its clinical programs, including development of novel immuno-oncology therapies for cancer treatment. With a weak financial health score and current ratio of 0.67 according to InvestingPro analysis, the company faces significant operational challenges. The offering details were disclosed in a company press release statement. (Discover 12 additional InvestingPro Tips and comprehensive financial metrics with an InvestingPro subscription.)
In other recent news, Aptevo Therapeutics has reported significant developments in its ongoing clinical trials for mipletamig, a treatment for acute myeloid leukemia (AML). The company announced an impressive 85% remission rate in frontline AML patients, which outperforms results from competitor studies. This data comes from the Phase 1b/2 RAINIER trial, where no cytokine release syndrome was observed, highlighting the treatment’s favorable safety profile. Additionally, Aptevo has enacted a reverse stock split at a 1-for-20 ratio to maintain compliance with Nasdaq listing standards. The company also filed a prospectus supplement for a common stock offering, allowing for the potential sale of shares to raise capital. This move is part of an At The Market Offering Agreement with Roth Capital Partners, LLC. Aptevo’s financial report showed a net loss of $6.3 million for the quarter ending March 31, 2025, with a cash position of $2.1 million, excluding recent fundraising efforts. The company continues to focus on developing bispecific immunotherapies, with multiple data readouts anticipated later in the year.
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