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Aptevo Therapeutics Inc. (APVO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

APVO Quarterly Reports

Aptevo Therapeutics Inc.

CIK: 1671584 Ticker: APVO

Exhibit 99.1

 

 

 

For Immediate Release

 

 

Aptevo Therapeutics Reports First Quarter 2022 Financial Results and

Business Highlights

 

SEATTLE, WA – May 12, 2022

– Aptevo Therapeutics Inc. (“Aptevo” or the “Company”) (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 financial results and business highlights for the quarter ended March 31, 2022.

 

Business Highlights

Earned and collected a $10 million non-dilutive milestone payment related to 2021 sales of RUXIENCE®.  Additionally, based on RUXIENCE 2021 fourth quarter and full-year sales results, the Company is optimistic about the potential to earn additional non-dilutive milestones totaling $22.5 million over the next two years.

Reported that two patients with relapsed/refractory acute myeloid leukemia (AML) in its on-going Phase 1b trial evaluating adult patients with AML, achieved transplant-eligible status, and have received allogeneic stem cell transplants: 

 

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One patient received APVO436 in a monotherapy cohort of the trial and experienced significant reduction in bone marrow blasts

 

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Another patient received APVO436 in a combination therapy cohort of the trial and experienced a complete remission

Continued enrollment in the Company’s Phase 1b expansion trial evaluating APVO436 in adult patients with AML

Presented preclinical data for APVO442 in a poster session at the American Association for Cancer Research (AACR) Annual Meeting.

 

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The poster highlighted the potential of APVO442 to treat prostate cancer indications such as metastatic castration-resistant prostate cancer with increased benefit and decreased side effects relative to other potential therapeutics in the bispecific category

 

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APVO442 is a bispecific therapeutic candidate targeting prostate-specific membrane antigen (PSMA) and CD3, designed to redirect the patient's T cell-mediated tumor-fighting responses against PSMA-expressing solid tumors (prostate cancer)

 

“The first quarter was productive as we continued to advance both clinical and pre-clinical assets, all of which are based on the Company’s proprietary ADAPTIR and ADAPTIR-FLEX platforms.  Our Phase 1b expansion trial continues to enroll patients and we reported that two patients advanced to transplant after receiving APVO436 – one as a monotherapy and the other as a combination therapy.  We were also happy to report we earned a $10 million milestone payment related to 2021 sales of RUXIENCE.  Receipt of this non-dilutive payment underscores our ongoing commitment to delivering value to shareholders,” said Marvin White, President and CEO of Aptevo. “Looking ahead, we continue to progress the ALG.APV-527 program toward the clinic and remain on track for an IND submission and clinical trial initiation, later this year.  We also plan to release interim data from the APVO436 expansion trial and announce the addition of a new molecule to the preclinical pipeline later this year.”

 

 

 

 

 

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The following information was filed by Aptevo Therapeutics Inc. (APVO) on Thursday, May 12, 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-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 Operations (Unaudited)
Cash, Cash Equivalents And Restricted Cash - Additional Information (Details)
Cash, Cash Equivalents, And Restricted Cash
Cash, Cash Equivalents, And Restricted Cash (Tables)
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 - Additional Information (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Discontinued Operations - Summary Of Reconciliation Of Carrying Amounts Of Assets And Liabilities And Income (Loss) From Discontinued Operation (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 Rsu 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)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Components Of Lease Expense (Details)
Leases - Summary Of Right Of Use Assets Acquired Under Operating Leases (Details)
Liability Related To Sale Of Royalties
Liability Related To Sale Of Royalties (Tables)
Liability Related To Sale Of Royalties - Additional Information (Details)
Liability Related To Sale Of Royalties - Schedule Of Changes In The Liability Related To The Sale Of Royalties (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 Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
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)

Material Contracts, Statements, Certifications & more

Aptevo Therapeutics Inc. provided additional information to their SEC Filing as exhibits

Ticker: APVO
CIK: 1671584
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-22-019685
Submitted to the SEC: Thu May 12 2022 8:32:13 AM EST
Accepted by the SEC: Thu May 12 2022
Period: Thursday, March 31, 2022
Industry: Pharmaceutical Preparations

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