Aptevo Q1 net loss $6.8M; breast cancer patient stays on ALG.APV-527 >11 months

Aptevo Therapeutics Inc.

2024-Q1 EPS reported -$9.95

Net loss $6.8M ($9.95 per share) vs net income $2.8M ($17.38 per share) in Q1 2023.
Cash $10.3M at March 31, 2024; pro forma $14.3M after April equity raise.
Heavily pretreated breast cancer patient in ALG.APV-527 Phase 1 achieved stable disease, remains on therapy >11 months, safely transitioned to higher dose.
APVO436 Phase 1b/2 frontline AML dose optimization trial initiation expected Q2 2024; partnered with Prometrika.
R&D expenses down $0.4M to $3.8M; G&A down $0.4M to $3.2M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Aptevo Therapeutics Inc. reported the quarter ended March 31, 2024 results: net income a net loss of $6.8 million or $9.95 per share, EPS $9.95 per share.

Period: the quarter ended March 31, 2024
Net income: a net loss of $6.8 million or $9.95 per share
EPS: $9.95 per share
Result: reported results

Exact text from the filing

Aptevo Therapeutics Inc. (Nasdaq: APVO), a clinical-stage biotechnology company focused on developing novel immune-oncology therapeutics based on its proprietary ADAPTIRTM and ADAPTIR-FLEXTM platform technologies, today reported financial results for the quarter ended March 31, 2024 and provided a business update.

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Source: SEC EDGAR

accession 0000950170-24-055087

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