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Aptevo Therapeutics Inc. (APVO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Aptevo Therapeutics Inc.

CIK: 1671584 Ticker: APVO

Exhibit 99.1

 

Aptevo Therapeutics Highlights Key 2019 Priorities

ADAPTIR™ Bispecific Antibody Candidates Poised to Progress in Clinical Development

APVO436 Advancing in Phase 1 Clinical Trial for Acute Myeloid Leukemia;
APVO210 Beginning Phase 1 Clinical Trial in Q1 2019;
ALG.APV-527 Progressing with CTA Submission in H2 2019

Projecting 1/3 Cash Burn Reduction in 2019

Launching New Growth Initiatives for IXINITY

SEATTLE, Jan. 07, 2019 (GLOBE NEWSWIRE) --  Aptevo Therapeutics Inc. (Nasdaq: APVO), a biotechnology company focused on developing novel oncology and hematology therapeutics, today outlined key priorities for the Company in 2019 centered around anticipated progress in its ADAPTIR bispecific antibody portfolio, new growth initiatives for its marketed hemophilia B product, IXINITY, and a significant reduction in Aptevo’s anticipated cash burn rate in 2019.

“The past year represented a period of solid execution for Aptevo as we delivered on our goal of advancing our ADAPTIR platform to have key programs progressing in the clinic in 2019,” said Marvin L. White, President and Chief Executive Officer.  “Most notably our lead next-generation ADAPTIR candidate, APVO436, commenced patient dosing in the fourth quarter of 2018 and we expect to begin enrollment in a Phase 1 clinical study of APVO210 this quarter.  In addition, in conjunction with our partner, Alligator Bioscience, we expect to file a Clinical Trial Authorisation submission (CTA) later this year in Europe to commence a Phase 1 study of ALG.APV-527, an exciting bispecific candidate that engages T cells through the co-stimulatory receptor, 4-1BB, illustrating the versatility of our ADAPTIR platform to develop novel bispecifics with unique mechanisms of action.  We look forward to advancing each of these programs in 2019 and reporting preliminary safety and efficacy data as enrollment progresses.”

“Our commercial organization has also been very successful expanding our IXINITY business,” continued Mr. White. “With U.S. sales more than doubling in 2018 to approximately $23 million, Aptevo announced new growth initiatives which we plan to implement in 2019 to further expand the market opportunity for IXINITY in the U.S. and internationally. These include, seeking a pediatric label expansion for IXINITY, as more than a third of patients with Hemophilia B in the U.S. are under the age of 13; introducing a more desirable and convenient 3,000 IU assay for patients, and finally, pursuing ex-US licensing and partnership opportunities for IXINITY to expand our footprint internationally.”

“We project our cash burn rate in 2019 will be in the range of $36-40 million compared to $55-60 million in 2018. The three major elements contributing to this reduction are (i) the completion of clinical trial manufacturing activities for both the APVO436 and APVO210 in 2018; (ii) increased IXINITY profitability anticipated in 2019; and (iii) the previously announced discontinuation of our legacy programs.  With this reduction in our cash requirements, combined with our current cash at year-end of $38 million, the cash flow anticipated from IXINITY, along with the proceeds we may elect to access under our $35 million share purchase agreements with Lincoln Park Capital, we believe Aptevo is well positioned to advance our objectives and reach important clinical milestones over the next 12-18 months, setting the stage for an important value creation period.” concluded Mr. White. 

 


The following information was filed by Aptevo Therapeutics Inc. (APVO) on Wednesday, January 9, 2019 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 Comprehensive Loss
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 Payment In Connection With Credit Agreement (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 Financial Assets Measured At Fair Value (Parenthetical) (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)
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 - Schedule Of Inventories (Details)
Investments
Investments (Tables)
Investments - Schedule Of Short-Term Investments (Details)
Investments - Schedule Of Short-Term Investments (Parenthetical) (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)
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)
Nature Of Business And Significant Accounting Policies - Schedule Of Major Customers Concentration Risk Percentage (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Additional Information (Details)
Net Income (Loss) Per Share - Computation Of Basic And Diluted Net Income (Loss) Per Share (Details)
Net Income (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, Plant And Equipment (Details)
Revenue Reserves
Revenue Reserves (Tables)
Revenue Reserves - Summary Of Receivable Related Allowances And Revenue Related Liabilities (Details)
Sale Of Hyperimmune Business
Sale Of Hyperimmune Business (Tables)
Sale Of Hyperimmune Business - Additional Information (Details)
Sale Of Hyperimmune Business - Summary Of Components Attributable To Hyperimmune Business Presented As Income From Discontinued Operations (Details)
Sale Of Hyperimmune Business - Summary Of Components Attributable To Hyperimmune Business Presented As Income From Discontinued Operations In Consolidated Statements Of Operations (Details)
Sale Of Hyperimmune Business - Summary Of Reconciliation Of Carrying Amounts Of Assets And Liabilities Of Hyperimmune Assets Held For Sale, Net In Consolidated Balance Sheet (Details)
Ticker: APVO
CIK: 1671584
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-008184
Submitted to the SEC: Mon Mar 18 2019 9:33:46 AM EST
Accepted by the SEC: Mon Mar 18 2019
Period: Monday, December 31, 2018
Industry: Pharmaceutical Preparations

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