Aptevo Therapeutics(APVO) - 2025 Q3 - Quarterly Results

Clinical Trials and Product Development - 89% of evaluable frontline AML patients achieved remission with mipletamig in combination therapy across two trials, including 100% remission in Cohort 3 of the RAINIER trial[3] - Aptevo introduced its first trispecific T-cell engagers, APVO451 and APVO452, expanding its oncology portfolio to five CRIS-7-derived CD3-targeting molecules[4] - Aptevo's pipeline now includes six preclinical candidates targeting various solid tumors, leveraging its proprietary ADAPTIR and ADAPTIR-FLEX platforms[18] Financial Performance - The company raised $18.7 million in Q3 2025 and an additional $4.1 million post-quarter, extending its cash runway into Q4 2026[10] - Cash and cash equivalents totaled $21.1 million as of September 30, 2025, increasing to $25.2 million after additional fundraising[10] - Research and development expenses rose to $4.0 million in Q3 2025, up from $3.1 million in Q3 2024, primarily due to increased mipletamig and employee costs[11] - General and administrative expenses increased to $3.6 million in Q3 2025, compared to $2.1 million in Q3 2024, mainly due to higher employee costs[12] - Aptevo reported a net loss of $7.5 million or $2.23 per share for Q3 2025, compared to a net loss of $5.1 million or $357.86 per share in Q3 2024[12] - The total assets of Aptevo increased to $26.996 million as of September 30, 2025, from $15.591 million at the end of 2024[15] - The company’s accumulated deficit reached $269.2 million as of September 30, 2025, compared to $247.6 million at the end of 2024[15] Risks and Uncertainties - Aptevo's actual results may differ materially from forward-looking statements due to various risks, including clinical trial uncertainties and regulatory changes[21] - The company faces known and unknown risks that could impact the availability or commercial potential of its product candidates[21] - Macroeconomic conditions such as rising inflation, interest rates, and decreased consumer confidence are potential factors affecting Aptevo's performance[21] - The ongoing geopolitical risks, including the war between Russia and Ukraine, may also influence the company's business environment[21] - Aptevo does not assume any obligation to update forward-looking statements unless required by law[21]