By Josh Beckerman
Aptevo Therapeutics shares bounced back from Tuesday's 52-week low, more than doubling Wednesday after the company reported favorable results for its lead drug candidate in an acute myeloid leukemia study.
Shares were recently up 114% to $6.03. Volume was over 115 million shares by Wednesday afternoon, compared with a 65-day average of about 275,000. The stock is down about 93% this year. Its 52-week low was $2.81.
The company reported data from a Phase 1b/2 trial evaluating mipletamig in combination with standard-of-care venetoclax and azacitidine for newly diagnosed patients with acute myeloid leukemia who are unfit for intensive chemotherapy.
The mipletamig triplet therapy delivered remissions in 85% of evaluable frontline AML patients, Aptevo said. No dose-limiting toxicities were observed among evaluable patients, it added.
Aptevo also announced an $8 million registered direct offering. It agreed to sell 2.465 million shares or pre-funded warrants and 12.325 million warrants at price of $3.25 per share and associated warrants.
The company is offering the securities pursuant to a registration statement filed Monday.
On Tuesday, Aptevo reported a standby equity-purchase agreement with Yorkville Advisors for up to $25 million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 18, 2025 13:34 ET (17:34 GMT)
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