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Aptevo Therapeutics Inc. (APVO) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Aptevo Therapeutics Inc.

CIK: 1671584 Ticker: APVO

 

Exhibit 99.1

 

For Immediate Release

 

 

APTEVO THERAPEUTICS REPORTS 2016 FINANCIAL RESULTS

AND PROVIDES BUSINESS UPDATE

 

Advances Multiple Clinical and Preclinical Candidates Based on the Company’s

Novel ADAPTIR™ Protein Therapeutic Platform

 

Achieves 30% Increase in Year-Over-Year Product Sales Revenue

 

 

SEATTLE, WA – March 31, 2017

-- Aptevo Therapeutics Inc. (Nasdaq: APVO), a biotechnology company focused on developing novel oncology and hematology therapeutics, today reported its financial results for the year ended December 31, 2016 and provided an update on its commercial portfolio and pipeline programs.

 

“Following the successful completion of our spin-off from Emergent BioSolutions (Emergent), Aptevo commenced operations in August 2016 as an independent company with a finely-tuned agenda and focused mission to serve our patients and shareholders,” said Marvin L. White, President and Chief Executive Officer.  “The combination of our novel ADAPTIR™ protein therapeutic platform with multiple clinical and preclinical candidate opportunities and a well-established commercial product portfolio makes Aptevo well positioned to leverage the opportunities inherent in our commercial and R&D portfolios to unlock value for shareholders.”  

 

2016 Operational Highlights

 

Commercial Portfolio:

 

 

Achieved 30% increase in year-over-year product sales revenue

 

Continued to expand awareness of IXINITY within the Hemophilia B community following its U.S. launch in mid-2015

 

Resolved ongoing bulk drug substance manufacturing challenges and resumed routine manufacturing operations, which the company believes will avert a supply interruption of IXINITY

 

Pipeline:

 

 

Initiated the amendment to a Phase 1 continuous infusion, dose escalation study of MOR209/ES414 to evaluate safety and tolerability in patients with metastatic castration-resistant prostate cancer

1

 


The following information was filed by Aptevo Therapeutics Inc. (APVO) on Friday, March 31, 2017 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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Aptevo Therapeutics Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

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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 Comprehensive Loss
Consolidated Statements Of Operations
401(k) Savings Plan
401(k) Savings Plan - Additional Information (details)
Debt
Debt (tables)
Debt - Additional Information (details)
Debt - Schedule Of Five Year Payments On Debt (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 (tables)
Fair Value Measurements - Additional Information (details)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value (details)
Fair Value Measurements - Summary Of Reconciliation Of Liabilities Measured At Fair Value Using Significant Unobservable Inputs (level 3) (details)
Impairment Of Intangible Assets, In-process Research And Development And Goodwill
Impairment Of Intangible Assets, In-process Research And Development And Goodwill - Additional Information (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (details)
Income Taxes - Schedule Of Benefit From Income Taxes Differs From Amount Of Taxes Determined By Applying U.s. Federal Statuary Rate To Loss Before Benefit From Income Taxes (details)
Income Taxes - Schedule Of Net Deferred Tax Asset (liability) (details)
Income Taxes - Schedule Of Reconciliation Of Unrecognized Tax Benefits (details)
Income Taxes - Summary Of Significant Components Of Provisions For Income Taxes Attributable To Operations (details)
Intangible Assets, Net
Intangible Assets, Net (tables)
Intangible Assets, Net - Additional Information (details)
Intangible Assets, Net - Schedule Of Future Amortization Expense (details)
Inventories
Inventories (tables)
Inventories - Additional Information (details)
Inventories - Schedule Of Inventories (details)
Investments
Investments (tables)
Investments - Schedule Of Short-term Investments (details)
Leases And Contingencies
Leases And Contingencies (tables)
Leases And Contingencies - Additional Information (details)
Leases And Contingencies - Summary Of Future Minimum Lease Payments Under Operating Lease Agreements (details)
Morphosys Collaboration Agreement
Morphosys Collaboration Agreement - 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 - Additional Information (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 - Summary Of Property, Plant And Equipment (details)
Restatement
Restatement (tables)
Restatement - Additional Information (details)
Restatement - Balance Sheet Impact (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (tables)
Selected Quarterly Financial Data (unaudited) - Additional Information (details)
Selected Quarterly Financial Data (unaudited) - Balance Sheet Impact (details)
Selected Quarterly Financial Data (unaudited) - Income Statement Impact (details)
Selected Quarterly Financial Data (unaudited) - Unaudited Quarterly Consolidated Statement Of Operations Data (details)
Selected Quarterly Financial Data (unaudited) - Unaudited Quarterly Consolidated Statement Of Operations Data (parenthetical) (details)
Subsequent Events
Subsequent Events - Additional Information (details)
Ticker: APVO
CIK: 1671584
Form Type: 10-K Annual Report
Accession Number: 0001564590-17-005738
Submitted to the SEC: Fri Mar 31 2017 10:06:15 AM EST
Accepted by the SEC: Fri Mar 31 2017
Period: Saturday, December 31, 2016
Industry: Pharmaceutical Preparations

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