- Aptevo Therapeutics (APVO, Financial) closes $2.0 million registered direct offering.
- Offering price set at $0.862 per share, conducted under Nasdaq market rules.
- Funds to support clinical development, working capital, and corporate purposes.
Aptevo Therapeutics Inc. (APVO), a clinical-stage biotechnology company, has successfully closed its $2.0 million registered direct offering. This transaction involved the sale of 2,324,000 shares of common stock at a price of $0.862 per share.
The offering was conducted at-the-market in accordance with Nasdaq rules, facilitated by Roth Capital Partners who served as the exclusive placement agent. The funds procured from this offering are earmarked for the continued clinical development of Aptevo's product candidates, as well as for working capital and other general corporate purposes.
These new funds were raised through a shelf registration statement on Form S-3 (File No. 333-284969), previously filed with the Securities and Exchange Commission (SEC). Aptevo Therapeutics continues to focus on advancing its novel immune-oncology therapeutics, utilizing proprietary ADAPTIR® and ADAPTIR-FLEX® platform technologies.
The $0.862 per share price reflects a 35.6% premium over the current trading price, which underscores investor confidence despite the biotech firm's small market capitalization of approximately $3.35 million. This strategic funding approach aims to strengthen Aptevo's financial position as it advances its clinical pipeline.
