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Aptevo (APVO) Stock Plummets 79% in a Week: Here's Why
APVOAptevo Therapeutics(APVO) Zacks Investment Research·2024-04-16 17:51

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 1.35pershare,amountingto1.35 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 ...