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Wednesday, May 25, 2022

Aptevo Therapeutics Inc. (APVO) Stock Rising in Early Trading Following Yearly Financial Results Release.

Aptevo Therapeutics Inc. (APVO) is an early-stage biotherapeutics firm engaged in the development of innovative immunotherapeutics for treating cancer. The company seeks to enhance the treatment results of cancer patients.


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APVO stock price during the early trading session of March 24, 2022, as of the writing, rocketed by 24.05% to be $6.51

APVO: Key Financials

APVO issued its fiscal year 2021 annual financial report on March 24, 2022, for the year ended December 31, 2021. Some of the key points are mentioned below.

Revenue

The company posted royalty revenue of $12.2 million in fiscal 2021 versus fiscal 2020 when revenue was recorded to be $4.3 million. Its revenue grew by up to $7.98 million over the year.

EPS

Basic and diluted net loss per share in fiscal 2021 was $28.4 million or $6.07 corresponding to $17.7 million or $5.23 in the comparable fiscal 2020. The company’s EPS increased YoY.

APVO: Events and Happenings

On February 9, 2022, APVO updated on earning a $10 million non-dilutive breakthrough payment in association with the 2021 sales of RUXIENCE. In addition, it is hopeful about the likelihood of earning supplementary non-dilutive breakthroughs worth $22.5 million over the two years period. The company also reported that APVO436 which is in Phase 1 trial continued to register new trial sites.

On January 21, 2021, APVO reported about the retirement of Fuad El-Hibri, its board’s founding chairman with effect from April 1, 2022. Board member and vice-chairman John E. Niederhuber will assume the role of chairman of the board.

On December 15, 2021, APVO informed the press regarding the publication of its article regarding the mechanism of action of 4-1BB targeting bispecific antibodies in December’s issue of Nature Communications.

Conclusion

APVO stock is 23% down the year-to-date as the companies around the globe suffered in the pandemic. Its stock position became strong in the early trading of Thursday as the company announced its 2021 annual report. The company meets the analyst’s expectations in this regard.

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