Aptevo Therapeutics (APVO, Financial) has successfully arranged a registered direct offering involving the sale of 2,324,000 shares of its common stock. These shares are being offered at a price of $0.862 per share. Roth Capital Partners has been designated as the exclusive placement agent to facilitate this transaction.
The company anticipates garnering approximately $2 million in gross proceeds from this initiative, a sum calculated before accounting for the fees charged by the placement agent and other associated offering expenses. Aptevo plans to allocate the net proceeds obtained from this offering towards the ongoing clinical development of its pipeline products, as well as to bolster its working capital and support other general corporate activities.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Aptevo Therapeutics Inc (APVO, Financial) is $21.00 with a high estimate of $21.00 and a low estimate of $21.00. The average target implies an upside of 2,699.73% from the current price of $0.75. More detailed estimate data can be found on the Aptevo Therapeutics Inc (APVO) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Aptevo Therapeutics Inc's (APVO, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
