Aptevo Therapeutics Inc.

Aptevo Therapeutics Inc. has entered into Amendment No. 6 to its Rights Agreement, originally dated November 8, 2020. This amendment extends the Final Expiration Date of the agreement to October 23, 2027. Additionally, the Purchase Price for the contingent rights to purchase preferred stock has been adjusted to $14.56 per one one-thousandth of a share.

Aptevo Therapeutics Inc. raised approximately $4.5 million in gross proceeds through a combination of warrant inducement letters and a private placement. Existing warrant holders exercised up to 254,922 shares for cash at a reduced price of $4.03 per share, generating about $1.0 million. In consideration, the company issued new unregistered inducement warrants for up to 1,274,610 shares. Additionally, a private placement sold up to 861,708 unregistered shares (or pre-funded warrants) and common warrants for up to 4,308,540 shares, all at $4.03 per share. The net proceeds will be used for working capital and general corporate purposes.

Aptevo Therapeutics Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on August 21, 2026. Key proposals for stockholder vote include the election of two directors, ratification of the independent auditor, an advisory vote on executive compensation, and approval of the Fourth Amended and Restated 2018 Stock Incentive Plan. The company also noted recent changes in its board leadership structure, with Marvin L. White becoming Executive Chair and Jeffrey G. Lamothe assuming the role of President and CEO.

Aptevo Therapeutics Inc. announced a new solid tumor strategy and the filing of a patent application for a proprietary Nectin-4 x PD-L1 dual-targeting backbone. The company believes this technology will strengthen its oncology pipeline, support multiple therapeutic approaches from a single platform, and expand potential partnering opportunities. This versatile backbone is designed to be adapted for various cancer-fighting methods, including radiopharmaceuticals and T-cell engagers, by targeting Nectin-4 and PD-L1 in solid tumors.

Aptevo Therapeutics Inc. secured a $1.5 million non-dilutive research grant from the Andy Hill Cancer Research Endowment (CARE) Fund. This funding will support Investigational New Drug (IND)-enabling studies for APVO451, the company's trispecific antibody candidate for solid tumor indications. The project period is expected to extend through June 2028, with funding provided on a reimbursement basis and subject to milestone achievement.

Aptevo Therapeutics Inc. and Niowave, Inc. announced a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, combining Aptevo's proprietary molecules and multispecific antibody platforms with Niowave's radioisotopes and supply capabilities. Concurrently, Niowave made an initial equity investment of approximately $500,000 in Aptevo, acquiring 98,522 common shares and warrants for 53,201 shares, representing an initial 7.9% ownership. Niowave has the potential to increase its stake to up to 19.99% through additional purchases and warrant exercises. This partnership marks Aptevo's expansion into the radiopharmaceutical therapeutic development space.

Aptevo Therapeutics Inc. reported a net loss of $(6.7) million for the first quarter of 2026, an increase from $(6.4) million in the prior year. The company disclosed substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows from operations. Cash and cash equivalents decreased to $14.5 million as of March 31, 2026, despite raising $0.9 million through common stock issuance in the quarter and an additional $0.2 million subsequently.

Aptevo Therapeutics provided a Q1 2026 business update, highlighting strong clinical data for its lead candidate, Mipletamig, in frontline acute myeloid leukemia (AML). The company reported an 87% clinical benefit rate and 81% remission (CR or CRi) with no cytokine release syndrome. Aptevo also secured a $60 million equity line of credit, enhancing financial flexibility through 2029, and completed an executive leadership transition with Jeff Lamothe appointed CEO.

Aptevo Therapeutics reported new clinical results from its RAINIER frontline acute myeloid leukemia (AML) trial, demonstrating an 87% clinical benefit rate and an 81% remission rate across 31 evaluable patients. These results significantly outperform historical benchmarks, showing strong clinical activity and a favorable safety profile. The company is on track to complete the Phase 1b dose-optimization trial and select the recommended Phase 2 dose in 2026, with the program now entering its final stage of dose optimization.