Why Is Aptevo Therapeutics (APVO) Stock Down 56% Today?

Aptevo Therapeutics (NASDAQ:APVO) stock is falling on Thursday after the clinical-stage biotechnology company priced a public offering for its shares.That public offering has Aptevo Therapeutics selling 3.4 million shares of APVO stock at a price of $1.35 each. The shares also come with warrants to purchase another 6.8 million shares of the company’s stock.Aptevo Therapeutics notes that the exercise price for the warrants in this offer is also$1.35 per share. The warrants are exercisable immediately and ex ...