Aptevo Therapeutics Inc - APVO STOCK NEWS

Aptevo Therapeutics reported its 2021 financial results, revealing a net loss of $28.5 million or $6.07 per share, up from a loss of $17.8 million in 2020. The company achieved significant progress in its clinical trials, particularly with APVO436 for acute myeloid leukemia, showing a 27.5% clinical activity in 40 patients. Aptevo plans to submit an IND for ALG.APV-527 in late 2022 and reported a 185% increase in royalty revenue to $12.3 million, driven by Pfizer's RUXIENCE. Cash reserves stood at $46.3 million, sufficient for the next 12 months.

Aptevo Therapeutics (NASDAQ: APVO) announced a $10 million non-dilutive milestone payment related to RUXIENCE sales in 2021. The company anticipates additional milestones totaling $22.5 million over the next two years, based on optimistic sales forecasts. The Phase 1b trial for its lead candidate, APVO436, for acute myeloid leukemia (AML) continues to progress, enrolling new sites including MD Anderson Cancer Center. A patient in complete remission is set to advance to transplant, indicating positive clinical outcomes.

Aptevo Therapeutics announces the retirement of its founding chairman, Fuad El-Hibri, effective April 1, 2022. Vice Chairman John E. Niederhuber, M.D., will succeed him. Under El-Hibri's leadership, the company advanced its clinical-stage immuno-oncology platform, developing drug candidates like APVO436, currently in Phase 1b trials for acute myeloid leukemia. The transition is viewed positively by the company, expecting to build upon the foundation laid during El-Hibri's tenure.

Alligator Bioscience and Aptevo Therapeutics (NASDAQ: APVO) announced the publication of a significant article in Nature Communications regarding the mechanism of action of their 4-1BB targeting bispecific antibodies. The research, led by professor Ignacio Melero, reveals that bispecific antibodies like ALG.APV-527 induce a stronger immune response when they link co-stimulation directly to tumor cells. This publication validates the design of ALG.APV-527, which is advancing into Phase I clinical development and presents promising potential for cancer immunotherapy.

Aptevo Therapeutics (NASDAQ:APVO) provided a clinical update on its Phase 1b Expansion trial for APVO436 aimed at treating acute myeloid leukemia (AML). Preliminary results indicate one complete remission in a high-risk AML patient after combining chemotherapy with APVO436. Notably, this treatment exhibited a favorable safety profile, with no apparent toxicity. The trial's goal is to enhance remission quality by reducing measurable residual disease (MRD). Achieving MRD negativity is linked to improved survival rates in AML patients.

Aptevo Therapeutics (NASDAQ:APVO) announced the presentation of two abstracts at the 63rd American Society of Hematology Annual Meeting from December 11-14, 2021. The first abstract focuses on the CD3xCD123 Bispecific Antibody APVO436 for patients with relapsed/refractory AML or MDS, discussing tolerability and anti-neoplastic activity. The second abstract addresses the risk of Cytokine Release Syndrome in the same patient group. Both presentations will take place on December 13, 2021, from 6:00 PM-8:00 PM.

Aptevo Therapeutics reported its financial results for Q3 2021, highlighting a cash position of $53.4 million and a net loss of $7.0 million, or $1.43 per share. Royalty revenue from Pfizer's RUXIENCE was $3.1 million. The company initiated the expansion phase of its Phase 1B clinical trial for APVO436 in acute myeloid leukemia. Research and development expenses decreased slightly to $4.4 million, while general and administrative expenses rose to $3.5 million. Aptevo continues to progress with the ADAPTIR and ADAPTIR-FLEX platforms in various industry forums.

Alligator Bioscience and Aptevo Therapeutics announced the presentation of preclinical data for ALG.APV-527, a bispecific antibody targeting 4-1BB and tumor antigen 5T4, at the SITC Annual Meeting on November 13, 2021. The data suggest potential efficacy in eliciting antitumor responses with minimized systemic activation. The poster outlines a dual expression mechanism supporting clinical protocols and demonstrates enhanced immune-mediated tumor cell killing. This advancement supports the molecule's progression to a phase I clinical trial, indicating a promising future for treating 5T4-expressing solid tumors.

Aptevo Therapeutics (APVO) presented promising preclinical data on its bispecific antibody APVO603 at the SITC 2021 Annual Meeting. The data highlights APVO603's effectiveness in enhancing tumor cell lysis when combined with a bispecific T-cell engager. This dual 4-1BB and OX40 targeting approach may improve T cell responses against solid tumors while minimizing regulatory T cell suppression. CEO Marvin White expressed optimism about the results and the ongoing development of APVO603, which aims to deliver robust anti-tumor responses.