Aptevo Therapeutics announces at-the-market offering

Aptevo Therapeutics Inc . (NASDAQ:APVO), a biotechnology company based in Seattle, Washington, with a market capitalization of $2.18 million, has entered into an At The Market Offering Agreement with Roth Capital Partners (WA:CPAP), LLC, according to a recent 8-K filing with the Securities and Exchange Commission. The company’s stock, which currently trades at $0.67, has experienced significant volatility, declining over 97% in the past year. InvestingPro analysis indicates the stock is currently trading below its Fair Value. The agreement, dated today, allows Aptevo to offer and sell shares of its common stock from time to time through Roth.

The company intends to offer shares with an aggregate offering price of up to $2,959,952, under a shelf Registration Statement on Form S-3, which was declared effective on February 26, 2025. The sales of the shares may be conducted as an "at the market offering," as defined by the Securities Act of 1933.

Roth Capital Partners will receive a commission of 3.0% of the gross sales price for the shares sold under the agreement. The actual proceeds to Aptevo from this offering will depend on the number of shares sold and the market prices at the time of sale. Aptevo has agreed to indemnify Roth against certain liabilities, including under the Securities Act.

In connection with the offering, Aptevo provided a preliminary cash and cash equivalents balance of approximately $2.1 million as of March 31, 2025. This amount is subject to finalization of the company’s financial statements for the quarter. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, though its overall financial health score is categorized as WEAK. InvestingPro subscribers have access to 10+ additional financial insights about APVO’s current position. The company also received net proceeds of approximately $1.9 million and $1.8 million from registered direct offerings that closed on April 4, 2025, and April 22, 2025, respectively.

The company’s financial position as of March 31, 2025, is not yet finalized and is subject to the completion of the condensed consolidated financial statements for the quarter. Aptevo’s independent registered public accounting firm has not reviewed these preliminary figures.

This report is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. Aptevo cautions investors not to place undue reliance on these statements, which are subject to change. The company does not undertake any obligation to update the forward-looking statements provided in this report. Investors should note that the company’s next earnings report is scheduled for May 9, 2025, with analysts currently not anticipating profitability this year, projecting an EPS of -$7.11 for FY2025.

In other recent news, Aptevo Therapeutics has been active with several developments aimed at advancing its cancer treatment pipeline. The company announced a $2 million stock offering, with the proceeds earmarked for clinical development and corporate purposes. This offering is part of a broader strategy to support ongoing trials, including the RAINIER trial for Mipletamig in acute myeloid leukemia and a Phase 1 trial for ALG.APV-527 targeting solid tumors. Additionally, Aptevo initiated another securities purchase agreement for a registered direct offering and warrants sale, anticipating gross proceeds of approximately $2.1 million. The net proceeds are also intended for clinical development and working capital.

In the realm of preclinical research, Aptevo reported progress on its compound APVO603, a bispecific antibody for solid tumors, showing potential in enhancing immune responses. The company’s pipeline includes other promising candidates like APVO711 and APVO442, which emphasize Aptevo’s focus on innovative cancer therapies. Meanwhile, Aptevo’s lead candidate, Mipletamig, is showing promising results in a Phase 1b/2 trial, with a 100% remission rate in a specific cohort for acute myeloid leukemia. Analysts from Roth Capital Partners are involved as placement agents in Aptevo’s financial activities, reflecting continued interest and support from the investment community.

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