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Aptevo Therapeutics Inc. (APVO) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Aptevo Therapeutics Inc.

CIK: 1671584 Ticker: APVO

 

                     EXHIBIT 99.1

 

 

For Immediate Release

 

APTEVO THERAPEUTICS REPORTS 2021 FINANCIAL RESULTS AND

PROVIDES BUSINESS UPDATE

 

SEATTLE, WA – March 24, 2022

– Aptevo Therapeutics Inc. (Nasdaq: APVO), a clinical-stage biotechnology company focused on developing novel immuno-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, today reported its financial results for the year ended December 31, 2021 and provided 2021 business highlights.

 

“2021 was an eventful year for Aptevo Therapeutics.  A year of progress against a backdrop of macro challenges at both the industry and global levels.  Among our achievements was completing and announcing positive results for our Phase 1b dose escalation trial for lead drug candidate APVO436 in the treatment of acute myeloid leukemia, or AML, and myelodysplastic syndrome, or MDS.  Those results showed a positive safety and tolerability profile and encouraging signs of clinical activity.  More specifically, of 40 evaluable patients, promising clinical activity was observed in 11 of 40 or 27.5%, including two complete remissions among AML patients and three complete marrow responses among MDS patients,” said Marvin L. White, President and Chief Executive Officer.  

Mr. White continued, “Also, on the APVO436 front, we initiated the second part of that trial -- a dose expansion phase -- structured as a multi-center, multi cohort study that will evaluate up to 90 adult AML patients in both monotherapy and in combination with standard of care chemotherapies.  Most exciting, we announced a complete remission in the fourth quarter and have since shared that this patient is proceeding to transplant.  Our pipeline also continues to progress, as we plan to file an Investigational New Drug Application (IND) for ALG.APV-527 for the treatment of solid tumors, later this year.  We are excited about the opportunity to expand our clinical programs and view our progress as continued validation of our technology platforms.”  

“From a financial perspective we have sufficient cash for at least the next 12 months.  Importantly, completion of enrollment of the APVO436 expansion trial and initiation of the ALG.APV-527 clinical program are expected inside this cash window,” he concluded.

 

 

 

 

 

 

 

 

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The following information was filed by Aptevo Therapeutics Inc. (APVO) on Thursday, March 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Aptevo Therapeutics Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Changes In Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
401(K) Savings Plan
401(K) Savings Plan - Additional Information (Details)
Cash, Cash Equivalents, And Restricted Cash
Cash, Cash Equivalents, And Restricted Cash (Tables)
Cash, Cash Equivalents, And Restricted Cash - Additional Information (Details)
Cash, Cash Equivalents, And Restricted Cash - Schedule Of Cash, Cash Equivalents And Restricted Cash, Both Current And Long-Term Portion (Details)
Collaboration Agreements
Collaboration Agreements - Additional Information (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Future Principal And Interest Payments In Connection With The Credit Agreement (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Equity
Equity (Tables)
Equity - Additional Information (Details)
Equity - Assumptions Used In Valuing The Stock Options Granted Under Black-Scholes Valuation Model (Details)
Equity - Summary Of Restricted Stock Activity (Details)
Equity - Summary Of Stock Option Activity (Details)
Equity - Summary Of Stock-Based Compensation Expense Includes Amortization Of Stock Options And Restricted Stock Units Granted (Details)
Fair Value Measurements
Fair Value Measurements - Additional Information (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Loss From Continuing Operations Before Income Taxes (Details)
Income Taxes - Schedule Of Reconciliation Of Federal Statutory Income Tax Rate To Effective Income Tax From Continuing Operations (Details)
Income Taxes - Schedule Of Tax Effects Of Temporary Differences Give Rise To Significant Portions Of Deferred Tax Assets And Deferred Tax Liabilities (Details)
Leases And Contingencies
Leases And Contingencies (Tables)
Leases And Contingencies - Additional Information (Details)
Leases And Contingencies - Components Of Lease Expense (Details)
Leases And Contingencies - Summary Of Future Minimum Lease Payments (Details)
Leases And Contingencies - Summary Of Right Of Use Assets Acquired Under Operating Leases (Details)
Liability Related To Sale Of Future Royalties
Liability Related To Sale Of Future Royalties (Tables)
Liability Related To Sale Of Future Royalties - Additional Information (Details)
Nature Of Business And Significant Accounting Policies
Nature Of Business And Significant Accounting Policies (Policies)
Nature Of Business And Significant Accounting Policies (Tables)
Nature Of Business And Significant Accounting Policies - Additional Information (Details)
Nature Of Business And Significant Accounting Policies - Schedule Of Estimated Useful Lives Of Property And Equipment (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Computation Of Basic And Diluted Net Loss Per Share (Details)
Net Loss Per Share - Summary Of Potentially Dilutive Shares Excluded From Calculation Of Net Loss Per Share (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Property And Equipment, Net - Summary Of Property And Equipment (Details)
Sale Of Aptevo Biotherapeutics - Gain Of Sale Of Business (Details)
Sale Of Aptevo Biotherapeutics - Summary Of Reconciliation Of Carrying Amounts Of Assets And Liabilities And Income (Loss) From Discontinued Operation (Details)
Schedule Of Changes In The Liability Related To The Sale Of Future Royalties (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Ticker: APVO
CIK: 1671584
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-011575
Submitted to the SEC: Thu Mar 24 2022 8:30:47 AM EST
Accepted by the SEC: Thu Mar 24 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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