Aptevo Therapeutics (APVO) : 4-year performance

Aptevo Therapeutics (APVO) : 3-year performance

Aptevo Therapeutics (APVO) : pricing of equity offering

 

Aptevo Therapeutics (APVO) slumps on almost 13x higher volume in response to its public offering of 19.85M shares of common stock and warrants to purchase up to the same number of shares at a price of $1.00 per share and warrant.

• The company is also offering pre-funded warrants to purchase up to 2.15M common shares at $0.01 per share and related warrants to purchase up to 2.15M common shares at $1.30 at a combined price of $0.99.
• Total gross proceeds should be ~$22.00M. Closing date is March 11.
• Yesterday's close was $1.48.

Aptevo Therapeutics (APVO) : Piper Jaffray initiates coverage

Piper Jaffray initiated coverage Aptevo Therapeutics. Price target $6, overweight rating.

** charts day before earnings **

 

Aptevo Therapeutics (APVO)

Aptevo Therapeutics and MorphoSys (MPSYY) end joint development and commercialization agreement for MOR209/ES414; Aptevo regains worldwide rights - preliminary phase I data show markedly lower anti-drug antibody titers

• Co announced the end of its partnership with MorphoSys AG for the joint worldwide development and commercialization of MOR209/ES414, a targeted immunotherapeutic for the treatment of metastatic castration resistant prostate cancer (mCRPC). Aptevo will regain worldwide development and commercialization rights for MOR209/ES414 (now known as APVO414) and intends to continue to advance APVO414 through the completion of Stage 1 of an ongoing Phase 1 continuous infusion, dose-escalation clinical study evaluating the safety, tolerability and clinical activity of escalating doses of APVO414 in patients with mCRPC.
• In the initial cohorts of the Phase 1 dose escalation study, twelve patients with mCRPC were treated with weekly intravenous infusions of APVO414. Seven of these patients (58%) developed ADA with very high titers (as high as 1:250,000). None of the patients had any adverse reactions due to the ADA, but patients with high ADA titers cleared the drug from their blood to undetectable levels. The amended protocol utilizes continuous intravenous infusion and two cohorts of patients have completed dosing without any dose limiting toxicities. Three of six patients (50%) developed ADA but with markedly lower titers of ADA (1:160 or 1:320). Additionally, drug was detected in the serum of all patients.

Aptevo Therapeutics also signs agreement for up to $74.5 million to sell hyperimmune commercial products; provides significant non-dilutive funding to execute R&D Strategy

• Co has agreed to sell its three marketed hyperimmune products, WinRho SDF, HepaGam B, and VARIZIG, to Saol Therapeutics for total consideration of up to $74.5 million.
• Under the terms of a definitive purchase agreement executed by the companies, Saol Therapeutics will acquire the three hyperimmune products currently marketed by Aptevo: WinRho SDF for autoimmune platelet disorder and hemolytic disease of the newborn; HepaGam B for the prevention of Hepatitis B following liver transplantation and for treatment following hepatitis B exposure; and VARIZIG for treatment following exposure to varicella zoster virus for individuals with compromised immune systems. The transaction is valued at up to $74.5 million, including an upfront payment of $65 million, and an additional potential milestone payment of up to $7.5 million related to the achievement of gross profit milestones. In addition, Aptevo may receive up to $2 million related to collection of certain accounts receivable after the closing.
• The transaction is expected to be completed in 2017.Aptevo anticipates that proceeds from the sale of the three hyperimmune products will be used to (i) satisfy its current debt obligation to MidCap Financial, and (ii) advance its clinical and preclinical ADAPTIR candidates.

** charts the day before  **

 

Aptevo Therapeutics (APVO) began trading on Nasdaq on 22 July 2016

Aptevo (NASDAQ:APVO) is a recent spinoff from Emergent BioSolutions (NYSE:EBS), an underfollowed biodefense company.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 121
• Headquarters: Seattle, WA
• Founded: 2016
• http://www.aptevotherapeutics.com

Ticker: APVO


A record high of $8.29 in late July.