Aptevo (APVO) Stock Plummets 79% in a Week: Here's Why

Aptevo Therapeutics (APVO) is a clinical-stage pharmaceutical company focused on developing novel therapies targeting cancer indications.In the past week, the company’s stock lost 79.0%. This downside came after management came out with a secondary issue of 3.4 million shares of its common stock to the public at an issue price of $1.35 per share, amounting to $4.6 million in gross proceeds. The issue was closed on Apr 15.Per the public offer’s terms, each common stock will be accompanied by two warrants. Ea ...