Aptevo Therapeutics Inc - APVO STOCK NEWS

Aptevo Therapeutics (APVO) announced remarkable results from Cohort 1 of its RAINIER frontline acute myeloid leukemia (AML) Phase 1b trial. All patients achieved remission within 30 days, with two out of three patients reaching complete remission with minimal residual disease (MRD)-negative status, indicating 100% elimination of cancer cells.

The company's bispecific antibody, mipletamig, being tested in combination with venetoclax and azacitidine, demonstrated consistent success across trials, with 86% of patients achieving remission within 30 days of first treatment. Notably, one MRD-negative patient had a TP53 mutation, typically associated with poor prognosis. The drug continues to show favorable safety and tolerability profiles, with Cohort 2 enrollment now beginning.

Aptevo Therapeutics (NASDAQ:APVO) has revealed details about APVO442, its preclinical bispecific antibody designed to target prostate cancer. The antibody, developed using the proprietary ADAPTIR-FLEX platform, aims to provide precise tumor targeting while minimizing side effects.

APVO442 binds to Prostate-Specific Membrane Antigen (PSMA) on prostate cancer cells and activates T cells within the tumor for enhanced targeted killing. Preclinical studies show the molecule effectively localizes to solid tumors while avoiding unwanted binding to circulating immune cells.

The development addresses a significant market opportunity, with prostate cancer being the second most common cancer in men, affecting approximately 300,000 new cases annually in the US. The therapeutic treatment market, currently valued at $14 billion, is projected to grow to over $24 billion in the next decade.

Aptevo Therapeutics (NASDAQ:APVO) announced a 1-for-37 reverse stock split effective December 3, 2024, with split-adjusted trading beginning December 4. The move aims to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The split will reduce outstanding shares from approximately 18.5 million to 0.5 million. The reverse split will affect all issued shares, outstanding options, restricted stock units, warrants, and other securities. The company will round up fractional shares to the next whole share, while maintaining the current trading symbol 'APVO' and $0.001 par value per share.

Aptevo Therapeutics (NASDAQ:APVO) announced that Peter Pavlik, PhD, Senior Director of Protein Engineering, will chair a session and present at Cambridge Healthcare Institute's Pep Talk conference in January 2025. The presentation will showcase how Aptevo uses its ADAPTIR and ADAPTIR-FLEX platforms to accelerate cancer therapy development. Dr. Pavlik will demonstrate the company's modular biotherapeutic approach using clinical candidates Mipletamig and ALG.APV-527 as examples. The company currently has five compounds in clinical and preclinical development and plans to introduce a new molecule in early 2025.

Aptevo Therapeutics (NASDAQ:APVO) provided updates on its oncology pipeline focusing on bispecific antibodies for cancer treatment. The company highlighted two clinical programs: mipletamig for AML, which showed 90% reduction in leukemic blasts in its first Phase 1b/2 trial patient, and ALG.APV-527 for solid tumors, which demonstrated positive safety and 56% stable disease rate in Phase 1. The pipeline includes three preclinical candidates: APVO711, APVO603, and APVO442. The company expects the bispecifics market to grow by 44% through 2030 and plans to add another asset to its pipeline soon.

Aptevo Therapeutics (NASDAQ: APVO) reports promising early results from its RAINIER trial, where the first patient treated with mipletamig achieved a 90% reduction in leukemic blasts within 30 days. The trial evaluates mipletamig as a frontline therapy for Acute Myeloid Leukemia (AML) in combination with venetoclax and azacitidine. The triplet combination therapy targets AML through multiple mechanisms, potentially improving patient outcomes, particularly in elderly patients with treatment options. Previous trials demonstrated favorable safety profiles with manageable cytokine release syndrome levels, along with compelling response and durability of remission.

Aptevo Therapeutics (APVO) and Alligator Bioscience reported positive preliminary data from their Phase 1 trial of ALG.APV-527, a first-in-class bispecific antibody for solid tumors. The trial met key endpoints for safety, tolerability, and biological activity. 56% of evaluable patients (9/16) achieved stable disease, including a colon cancer patient stable for over 6 months and a breast cancer patient stable for over 11 months. Notably, no serious liver toxicity was observed, distinguishing it from other 4-1BB targeting treatments. Biomarker analysis confirmed immune activation in the tumor microenvironment, supporting the drug's mechanism of action.

Aptevo Therapeutics (NASDAQ:APVO) reported Q3 2024 financial results and clinical progress. The company initiated the mipletamig Phase 1b/2 'RAINIER' trial for frontline AML treatment and presented positive interim data for ALG.APV-527 in solid tumors, showing 60% of evaluable patients achieving stable disease. Financial results showed cash position of $7.8 million, reduced R&D expenses to $3.1 million (down from $3.9 million), and decreased G&A expenses to $2.1 million (down from $2.7 million). The company reported a net loss of $5.1 million ($0.48 per share) and raised $5.75 million through financings during the quarter.

Aptevo Therapeutics (NASDAQ:APVO) and Alligator Bioscience (ATORX) announced they will present new positive interim data from their Phase 1 trial of ALG.APV-527 at the SITC 2024 conference. The presentation will showcase results from the dose escalation phase evaluating ALG.APV-527 monotherapy in multiple solid tumor types. The poster presentation, titled 'Preliminary results from a phase I dose escalation study of ALG.APV-527, a 5T4 × 4-1BB bispecific antibody,' will demonstrate favorable safety and biological activity in patients with advanced solid tumors. The presentation is scheduled for November 8, 2024, at SITC 2024 in Houston, Texas.