Aptevo Therapeutics Inc., a clinical-stage biotechnology company, reported a net loss of $26.0 million for the year ended December 31, 2025, compared to a net loss of $24.1 million for the previous year. The company's focus is on developing novel immunotherapy candidates for cancer treatment, utilizing its ADAPTIR and ADAPTIR-FLEX platform technologies. As of December 31, 2025, Aptevo held $21.6 million in cash and cash equivalents. The company's management has expressed substantial doubt about its ability to continue as a going concern for the next year.
Research and development expenses totaled $14.5 million in 2025, slightly increasing from $14.4 million in 2024. This rise was primarily driven by increased costs associated with the mipletamig program and employee-related expenses, partially offset by reduced spending on the ALG.APV-527 program following the conclusion of its dose escalation trial. General and administrative expenses also increased to $11.8 million in 2025 from $10.2 million in 2024, mainly due to higher employee, consulting, and legal costs. Other income, net, decreased from $0.5 million in 2024 to $0.3 million in 2025, primarily due to lower interest and rental income.
Aptevo is advancing two clinical candidates: mipletamig, a CD123xCD3 T cell engager in Phase 1b/2 development for frontline acute myelogenous leukemia (AML), and ALG.APV-527, targeting 4-1BB and 5T4, being evaluated for multiple solid tumor types. The company also has six preclinical candidates in development. A key operational development includes the ongoing RAINIER trial for mipletamig, with initial results showing favorable efficacy and safety outcomes. The company is also progressing IND-enabling studies for APVO603, a dual agonist bispecific ADAPTIR candidate.
To bolster its financial position, Aptevo entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville in June 2025, providing access to up to $25.0 million. An additional SEPA was established in January 2026, increasing potential funding by $60.0 million. As of December 31, 2025, $8.7 million remained available under the initial SEPA. The company also has an At-The-Market (ATM) offering agreement with Roth Capital Partners, although its current capacity is limited due to SEC regulations. Aptevo's strategy includes advancing its clinical programs, expanding its CD3-based portfolio, and establishing collaborative partnerships to broaden its pipeline and secure funding.
About Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer treatment. Utilizing proprietary ADAPTIR and ADAPTIR-FLEX modular protein platforms, it designs monospecific, bispecific, and multispecific antibody-based therapeutics targeting hematologic malignancies and solid tumors. Aptevo’s pipeline includes clinical and preclinical candidates that engage and modulate the immune system to enhance anti-tumor responses, serving oncology markets through innovative biologic drug development.
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