Aptevo reports 2022 net income of $8.0M on $37.2M gain; cash down to $22.6M

Aptevo Therapeutics Inc.

Net income of $8.0M ($1.57 diluted EPS) vs net loss of $28.5M in 2021; includes $37.2M gain on extinguishment of royalty liability.
Royalty revenue fell to $3.1M from $12.3M due to amendment of royalty purchase agreement with HCR.
Cash and equivalents $22.6M at Dec 31, 2022, down from $45.0M a year earlier.
APVO436 Phase 1b data showed activity in AML; Phase 2 planned for 2H23. ALG.APV-527 Phase 1 first patient dosed Feb 2023.
Preclinical candidate APV0711 (anti-PD-L1/anti-CD40) filed provisional patent; preclinical studies initiated Q1 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Aptevo Therapeutics Inc. reported year ended December 31, 2022 results: revenue $22.6 million.

Period: year ended December 31, 2022
Revenue: $22.6 million
Result: reported results

Exact text from the filing

preliminary results from the study later this year.” 3 2022 Summary Financial Results Cash Position: Aptevo had cash and cash equivalents as of December 31, 2022 totaling $22.6 million. Royalty Revenue: Royalty revenue for the period covered by this report reflects revenue recorded only in the first quarter of 2022 due to our Amendment to Royalty Purchase

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Source: SEC EDGAR

accession 0000950170-23-010755

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