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Aptevo Therapeutics Inc. (APVO) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Aptevo Therapeutics Inc.

CIK: 1671584 Ticker: APVO

 

EXHIBIT 99.1

 

For Immediate Release

 

 

 

APTEVO THERAPEUTICS REPORTS THIRD QUARTER 2019 FINANCIAL RESULTS

 

Reports Record Net Revenue for IXINITY;

Achieves 55% Increase in Year-over-Year Quarterly Net Revenue

 

Advances APVO436 Phase 1/1b Clinical Study in AML/MDS

 

 

SEATTLE, WA – November 7, 2019

-- Aptevo Therapeutics Inc. (Nasdaq: APVO), a biotechnology company focused on developing novel oncology and hematology therapeutics, today provided a business review and reported its financial results for the third quarter ended September 30, 2019.

 

“Net revenue for IXINITY® in the third quarter of 2019 reached a record level at $9 million, representing an increase of approximately 55% year-over-year and 22% quarter-over-quarter,” said Marvin L. White, President and Chief Executive Officer.  “Our commercial organization has done a fantastic job leveraging the launch of our new 3000 IU assay and continuing to grow awareness and market share.  Based on unit volume, the third quarter of 2019 was our best quarter ever in terms of new patient conversions.  In addition to the launch of the new larger presentation we will also be commencing a pediatric study of IXINITY with the goal of obtaining a pediatric label expansion for IXINITY in the United States. We’re excited about these latest growth initiatives and continue to be very pleased with the growth trend for IXINITY and the momentum we are building around this product.”

 

“Our lead ADAPTIR™ clinical candidate, APVO436, is an optimized bispecific antibody that features improvements over earlier ADAPTIR candidates, including an extended half-life, enhanced potency, desirable manufacturing properties and the potential for reduced immunogenicity.  As we reported in our recent conference call, APVO436 is currently being evaluated in a Phase 1/1b clinical study in patients with acute myeloid leukemia and high-grade myelodysplastic syndrome and continues to make solid progress,” continued Mr. White.  “This is a particularly important phase of the development program for APVO436 as the preclinical and pharmacokinetic models suggest that in the upcoming dose cohorts we may achieve dose levels of APVO436 with potential clinical effect.  We expect to report ongoing progress from the APVO436 Phase 1/1b study over the next several quarters as more clinical data emerge.”

 

 

 

 

 

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The following information was filed by Aptevo Therapeutics Inc. (APVO) on Thursday, November 7, 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Cash, Cash Equivalents And Restricted Cash - Additional Information (Details)
Cash, Cash Equivalents And Restricted Cash - Schedule Of Cash, Cash Equivalents And Long-Term Restricted Cash (Details)
Cash, Cash Equivalents, And Restricted Cash
Cash, Cash Equivalents, And Restricted Cash (Tables)
Collaboration Agreements
Collaboration Agreements - Additional Information (Details)
Debt
Debt - Additional Information (Details)
Discontinued Operations - Additional Information (Details)
Discontinued Operations ??? Milestone Payment
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)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Lease Expense (Details)
Leases - Summary Of Future Minimum Lease Payments (Details)
Leases - Summary Of Right Of Use Assets Acquired Under Operating Leases (Details)
Nature Of Business And Significant Accounting Policies
Nature Of Business And Significant Accounting Policies (Policies)
Nature Of Business And Significant Accounting Policies - Additional Information (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Summary Of Potentially Dilutive Shares Excluded From Calculation Of Net Loss Per Share (Details)
Revenue Reserves
Revenue Reserves (Tables)
Revenue Reserves - Summary Of Product Revenue Allowance And Reserve Categories (Details)
Ticker: APVO
CIK: 1671584
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-19-041524
Submitted to the SEC: Thu Nov 07 2019 7:53:22 AM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Monday, September 30, 2019
Industry: Pharmaceutical Preparations

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