Aptevo Therapeutics
APVONASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $1.08 Prior regular-session close from the quote source.
- $0.74–$0.83 Regular-session low and high so far today.
- 605.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $0.74–$27.72 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own APVO if APVO is a distressed clinical-stage option on mipletamig’s CD123xCD3 AML data and the reusable CRIS-7/ADAPTIR immunotherapy platform, not a proven operating business yet.
APVO price history
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Investment thesis
What must happen next
Mipletamig must keep showing that adding its CD123xCD3 mechanism to venetoclax plus azacitidine improves frontline AML outcomes without CD3-driven toxicity; that differentiation is the near-term path to partner interest and later-stage development.StrengtheningMateriality: High
Item 1 says RAINIER initial frontline AML results showed favorable efficacy and safety outcomes better than those observed in the completed dose-expansion phase, with strong remission across cohorts. If the RAINIER signal holds, the lead asset can reprice the company; if it fails, most of the near-term equity value disappears.
Watch: A RAINIER update shows remission depth or durability no better than venetoclax plus azacitidine alone.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says RAINIER initial frontline AML results showed favorable efficacy and safety outcomes better than those observed in the.
Open source ↗The CRIS-7 CD3 binding domain must prove reusable across ADAPTIR and ADAPTIR-FLEX molecules, so mipletamig’s safety experience lowers perceived risk for the broader five-molecule CD3 portfolio rather than remaining a one-asset anomaly.HoldingMateriality: High
Item 1 says Aptevo wholly owns ADAPTIR and ADAPTIR-FLEX and has two clinical candidates plus six preclinical candidates. If platform read-through is real, Aptevo owns multiple shots on goal; if not, the company is essentially a single-asset AML speculation.
Watch: IND-enabling toxicology for additional CRIS-7 CD3 candidates shows the clean mipletamig safety profile does not translate.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says Aptevo wholly owns ADAPTIR and ADAPTIR-FLEX and has two clinical candidates plus six preclinical candidates.
Open source ↗Aptevo must convert cash plus the 2026 equity-line facility into enough runway to reach clinical value inflections; otherwise the science may survive while current shareholders are diluted out.HoldingMateriality: Medium
Cash and cash equivalents were $21.6 million at December 31, 2025. Funding terms determine whether positive data accrues to today’s owners or mainly to future financiers.
Watch: Low share price, Nasdaq issues, or weak trading liquidity make the equity line unusable on acceptable terms.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were $21.6 million at December 31, 2025.
Open source ↗ALG.APV-527 creates real upside only if its 4-1BB/5T4 design preserves liver-safety differentiation and produces activity beyond stable disease; otherwise it remains secondary to mipletamig in capital allocation.HoldingMateriality: Medium
Item 1 says ALG.APV-527 targets 4-1BB and 5T4 and is designed to reactivate antigen-primed T cells to kill tumor cells. A stronger solid-tumor signal would add a second value driver; weak activity would narrow the thesis back to AML.
Watch: Future ALG.APV-527 data show liver toxicity, weak tolerability, or no objective responses in 5T4-expressing tumors.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says ALG.APV-527 targets 4-1BB and 5T4 and is designed to reactivate antigen-primed T cells to kill tumor cells.
Open source ↗
Full investment case & evidence
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Original research
Mipletamig must keep showing that adding its CD123xCD3 mechanism to venetoclax plus azacitidine improves frontline AML outcomes without CD3-driven toxicity; that differentiation is the near-term path to partner interest and later-stage development. If the RAINIER signal holds, the lead asset can reprice the company; if it fails, most of the near-term equity value disappears.
The CRIS-7 CD3 binding domain must prove reusable across ADAPTIR and ADAPTIR-FLEX molecules, so mipletamig’s safety experience lowers perceived risk for the broader five-molecule CD3 portfolio rather than remaining a one-asset anomaly. If platform read-through is real, Aptevo owns multiple shots on goal; if not, the company is essentially a single-asset AML speculation.
Aptevo must convert cash plus the 2026 equity-line facility into enough runway to reach clinical value inflections; otherwise the science may survive while current shareholders are diluted out. Funding terms determine whether positive data accrues to today’s owners or mainly to future financiers.
ALG.APV-527 creates real upside only if its 4-1BB/5T4 design preserves liver-safety differentiation and produces activity beyond stable disease; otherwise it remains secondary to mipletamig in capital allocation. A stronger solid-tumor signal would add a second value driver; weak activity would narrow the thesis back to AML.
All standing thesis claims
Original report summary
APVO is a distressed clinical-stage option on mipletamig’s CD123xCD3 AML data and the reusable CRIS-7/ADAPTIR immunotherapy platform, not a proven operating business yet.
Bull case and bear case
Bull case and bear case for Aptevo Therapeutics
Where the evidence on Aptevo Therapeutics stands: Holding on the latest evidence (Oct 21, 2026). Of its 4 thesis points, 1 strengthening and 3 holding.
Bull case: what the evidence supports
Mipletamig must keep showing that adding its CD123xCD3 mechanism to venetoclax plus azacitidine improves frontline AML outcomes without CD3-driven toxicity; that differentiation is the near-term path to partner interest and later-stage development.
The CRIS-7 CD3 binding domain must prove reusable across ADAPTIR and ADAPTIR-FLEX molecules, so mipletamig’s safety experience lowers perceived risk for the broader five-molecule CD3 portfolio rather than remaining a one-asset anomaly.
Aptevo must convert cash plus the 2026 equity-line facility into enough runway to reach clinical value inflections; otherwise the science may survive while current shareholders are diluted out.
ALG.APV-527 creates real upside only if its 4-1BB/5T4 design preserves liver-safety differentiation and produces activity beyond stable disease; otherwise it remains secondary to mipletamig in capital allocation.
Bear case: what would count against it
A RAINIER update shows remission depth or durability no better than venetoclax plus azacitidine alone.
IND-enabling toxicology for additional CRIS-7 CD3 candidates shows the clean mipletamig safety profile does not translate.
Low share price, Nasdaq issues, or weak trading liquidity make the equity line unusable on acceptable terms.
Thesis-Break Engine
Thesis-break watch · Aptevo Therapeutics
No break has crossed Aptevo Therapeutics’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedOther material event.
Aptevo Therapeutics filed an SEC 8-K on 2026-10-14: Other material event. It is a dated development that tests the current thesis.
- MixedOther material event.
Aptevo Therapeutics filed an SEC 8-K on 2026-09-24: Other material event. It is a dated development that tests the current thesis.
- MixedOther material event.
Aptevo Therapeutics filed an SEC 8-K on 2026-09-03: Other material event. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A RAINIER update shows remission depth or durability no better than venetoclax plus azacitidine alone.
- IND-enabling toxicology for additional CRIS-7 CD3 candidates shows the clean mipletamig safety profile does not translate.
- Low share price, Nasdaq issues, or weak trading liquidity make the equity line unusable on acceptable terms.
- Future ALG.APV-527 data show liver toxicity, weak tolerability, or no objective responses in 5T4-expressing tumors.
APVO news
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Financial statements
APVO income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
APVO: quick answers
- When does Aptevo Therapeutics (APVO) report earnings next?
- Aptevo Therapeutics's next results were projected for November 5, 2026, from the dates of its own results filings with the SEC, and it has not filed them yet. It last reported on August 14, 2026. Earnings calendar
- What is APVO's short interest?
- As of October 30, 2026, 71,260 APVO shares were sold short, down 26.2% from the count before. At the stock's average daily volume that is 1.9 days to cover. FINRA publishes the count twice a month. APVO short interest history
- Have members of Congress traded APVO?
- 1 trade in APVO has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed APVO trade