Business
Aptevo Therapeutics Reports Second Quarter Financial Results with Business Highlights
SEATTLE, WA / ACCESSWIRE / August 12, 2021 / Aptevo Therapeutics Inc. ("Aptevo" or "the Company") (NASDAQ:APVO), a clinical-stage biotechnology company
About this update from Aptevo Therapeutics Inc.
[{"type":"text","content":"SEATTLE, WA / ACCESSWIRE / August 12, 2021 / Aptevo Therapeutics Inc. (\"Aptevo\" or \"the Company\") (NASDAQ:APVO), a clinical-stage biotechnology company focused on developing novel immuno-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, today reported its financial results and business highlights for the quarter ended June 30, 2021.Business HighlightsAnnounced results from the Company's Phase 1 dose escalation trial evaluating lead ADAPTIR candidate, APVO436, for the treatment of acute myeloid leukemia and myelodysplastic syndromes (AML/MDS). Results showed that APVO436 was generally well tolerated and demonstrated a manageable side effect profile. Further, APVO436 showed preliminary single agent activity and an acceptable benefit to risk profile in patients with relapsed, advanced stage AML.Activation of the Company's Phase 1 dose expansion trial to evaluate APVO436 in adult patients with acute myeloid leukemia (AML) in a multi-center, multi-arm trial using the active recommended Phase 2 dose of 18mcg identified in the dose escalation part of the study. The expansion trial will include five discreet cohorts of 18 patients each (N=90) who will receive APVO436 in combination and monotherapy.Announced inclusion in the Russell Microcap® Index at the conclusion of the 2021 annual reconstitution. Aptevo's inclusion in the index became effective after US market close on Friday, June 25, 2021.\"The second quarter was an exciting time for Aptevo as we announced results from our APVO436 Phase 1 dose escalation trial in AML/MDS patients, with both encouraging safety results and observed signs of clinical activity. These results drove the design and activation of the dose expansion part of the trial. This trial is currently recruiting and we anticipate dosing the first patient soon,\" said Marvin White, President and CEO of Aptevo. He added, \"We were also very pleased to be added to the Russell Microcap®, as this is a tangible indicator of our growth in the last year, achieved by a team of professionals who are singularly focused on bringing new therapeutic solutions to patients in need.\"Second Quarter 2021 Financial Results SummaryCash Position: Aptevo had cash and cash equivalents as of June 30, 2021 totaling $61.7 million, including restricted cash of $1.3 million. The restricted cash...