Business
Aptevo Therapeutics Reports Third Quarter Financial Results With Business Highlights
SEATTLE, WA / ACCESSWIRE / November 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 / November 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 September 30, 2021.Business HighlightsEnrollment and dosing have commenced in Part 2 (Expansion Phase) of Company's multicenter 5001 Phase 1B clinical trial to evaluate APVO436 in adult patients with acute myeloid leukemia (AML).Reported 3 publications in two peer-reviewed journals ( Cancers[Basel]) and Frontiers in Aging) regarding the salient features of the data obtained during Part 1 (Dose escalation phase) of the 5001 APVO436 Phase 1B trial.Participated in Euroleukemia2021 Meeting with an oral and a poster presentation.Showcased the Company's preclinical assets, APVO442 and APVO603, and their potential to improve efficacy in the treatment of solid tumors and participated in discussions about risk mitigation in cell engager candidates at the Virtual Cell Engager Summit.Presented the unique aspects of the Company's proprietary ADAPTIR AND ADAPTIR-FLEX platforms at the Cambridge Health Institute PEGS Virtual Conference.platforms at the Cambridge Health Institute PEGS Virtual Conference.\"I am excited about our clinical progress in the third quarter, as we initiated enrollment and dosing in our APVO436 Phase 1b expansion trial. We look forward to receiving data from this trial in the first half of next year and will use the outcomes to inform our go-forward clinical strategy for this promising lead clinical candidate with the potential to impact existing standard of care for acute myeloid leukemia,\" said Marvin White, President and CEO of Aptevo. \"During the quarter we were fortunate to present our clinical work in two peer-reviewed journals and to showcase our ADAPTIR and ADAPTIR-FLEX platforms at multiple industry conferences. We are well funded to continue our work for the next twelve months and look forward to reporting our progress.\"Third Quarter 2021 Financial Results SummaryCash Position : Aptevo had cash and cash equivalents as of September 30, 2021 totaling $53.4 million, including restricted cash of $1.3 million. The restricted cash is expected to b...