Aptevo Therapeutics shareholders approve all proposals at annual meeting

Aptevo Therapeutics Inc . (NASDAQ:APVO), a micro-cap biotech company with a market capitalization of approximately $12 million, announced Thursday that all eight proposals presented at its 2025 Annual Meeting of Stockholders were approved by shareholders. According to InvestingPro data, the company’s financial health score currently stands at 1.38, indicating significant challenges ahead. The meeting was held with a quorum present, according to a statement based on a recent SEC filing.

Shareholders elected Marvin L. White and John E. Niederhuber, M.D. to the board of directors, each to serve until the 2028 annual meeting. White received 443,945 votes in favor and 33,182 withheld, while Niederhuber received 444,661 votes in favor and 32,466 withheld. Both had 1,518,631 broker non-votes.

The appointment of Baker Tilly US, LLP as Aptevo’s independent registered public accounting firm for the year ending December 31, 2025, was ratified with 1,881,305 votes for, 32,267 against, and 82,186 abstentions.

Shareholders also approved an amendment to the company’s certificate of incorporation to allow a reverse stock split at a ratio between 1-for-6 and 1-for-20, at the discretion of the board. The proposal received 1,800,748 votes for, 186,323 against, and 8,684 abstentions.

Approval was granted for the issuance of more than 19.99% of Aptevo’s outstanding common stock under a Standby Equity Purchase Agreement with YA II PN, Ltd. (Yorkville), with 428,731 votes for and 44,523 against, and 3,873 abstentions.

Shareholders approved the Third Amended and Restated 2018 Stock Incentive Plan, with 433,274 votes for, 31,428 against, and 12,425 abstentions.

A non-binding advisory vote on executive compensation was also approved, with 417,118 votes for, 45,598 against, and 14,411 abstentions.

The meeting included approval for the issuance of more than 19.99% of common stock upon exercise of warrants issued under a Securities Purchase Agreement dated June 18, 2024. This proposal received 432,147 votes for, 37,374 against, and 7,606 abstentions.

Finally, shareholders authorized the company to adjourn the special meeting if necessary, with 1,784,375 votes for, 203,228 against, and 8,155 abstentions.

All information is based on a statement filed by Aptevo Therapeutics Inc. with the Securities and Exchange Commission.

In other recent news, Aptevo Therapeutics Inc. reported an 85% remission rate in frontline acute myeloid leukemia patients using its mipletamig treatment in combination with standard therapies. This outcome surpasses results from similar competitor studies. The company also regained compliance with Nasdaq’s listing requirements after raising approximately $15.9 million in equity, ensuring it meets the necessary stockholders’ equity threshold. Additionally, Aptevo completed an $8 million registered direct offering, selling shares and warrants to institutional investors. This offering was conducted at $3.25 per share under Nasdaq rules. Furthermore, Aptevo expanded its immuno-oncology pipeline by adding APVO455, a preclinical Nectin-4 x CD3 bispecific T-cell engager aimed at targeting solid tumors. APVO455 joins two other therapies in Aptevo’s CD3-engaging portfolio, including mipletamig and APVO442. These developments highlight Aptevo’s ongoing efforts to strengthen its financial position and advance its therapeutic offerings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.