Aptevo posts Q2 net loss $5.9M, cash $8.1M; APVO436 Phase 1b/2 trial to begin

Aptevo Therapeutics Inc.

2024-Q2 EPS reported -$6.02

Net loss of $5.9M ($1.67/sh) vs $7.9M ($53.95/sh) in Q2 2023; R&D spend down 33% to $3.6M.
Cash $8.1M at June 30; proforma $10.4M including $2.75M July direct offering, extending runway into 2025.
APVO436 Phase 1b/2 dose optimization trial for AML expected to start in Q3 2024; prior expansion showed 91% clinical benefit rate.
ALG.APV-527 solid-tumor trial >90% enrolled; data showed durable stable disease in two heavily pretreated breast cancer patients.
Max tolerated dose not yet reached for ALG.APV-527; dosing continues in cohort five.

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