Business
Aptevo Therapeutics Reports 2019 Financial Results and Provides Business Update
Advances Dose-Escalation Phase 1/1b Study of APVO436 for Treatment ofAcute Myeloid Leukemia and High-Grade Myelodysplastic SyndromeReports Preliminary
About this update from Aptevo Therapeutics Inc.
[{"type":"text","content":"Advances Dose-Escalation Phase 1/1b Study of APVO436 for Treatment ofAcute Myeloid Leukemia and High-Grade Myelodysplastic SyndromeReports Preliminary Evidence of Clinical Activity of APVO436;Dosing in Cohort 6 to Begin ShortlyAchieves Record Annual IXINITY® Net Revenue of $32.4 MillionRepresenting 41% Increase Over 2018Sells Worldwide Commercial Rights to IXINITY to Medexus Pharmaceuticalsfor Estimated Proceeds in Excess of $100 Million; Positions Aptevo as a ‘Pure Play' Biotechnology Company SEATTLE, WA / ACCESSWIRE / March 25, 2020 / Aptevo Therapeutics Inc. (Nasdaq:APVO), a biotechnology company focused on developing novel immuno-oncology therapeutics based on its proprietary ADAPTIR™ bispecific technology platform, today reported its financial results for the year ended December 31, 2019 and provided an update on its ADAPTIR pipeline.\"2019 was a transformative year for Aptevo as we executed on our strategy to divest a non-core commercial asset - our IXINITY hemophilia B treatment, positioning Aptevo as a ‘pure play' biotechnology organization with a productive and novel technology platform,\" said Marvin L. White, President and Chief Executive Officer. \"The transaction, which we completed in February 2020, provided non-dilutive funding for Aptevo, strengthening our balance sheet, and most importantly, streamlining our focus on our ADAPTIR bispecific antibody platform, which we believe holds the greatest promise for long-term value creation.We anticipate that 2020 will be an especially important year for Aptevo, as multiple ADAPTIR programs continue to advance through and towards clinical development. APVO436, our lead ADAPTIR candidate, is being investigated for the treatment of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS.)Our progress in 2020 will mark a pivotal stage in the development program for APVO436 as we continue enrollment in dose cohorts 6 through 8 during the year in our ongoing Phase 1/1b clinical study. Pharmacokinetic modeling suggests that this is the dose range in which clinical activity could become apparent. Preliminary data from a patient in cohort 4 showed a \"marrow complete response\" suggesting evidence of early clinical activity of APVO436, so we are very encouraged and excited to monitor and report accumulating data from this study throughout the year.Also, earlier this year we...