Aptevo Therapeutics (APVO) AI Stock Analysis

• Market Cap: $8.40M
• Dividend Yield: N/A
• Average Volume (3M): 11.64M
• Price to Earnings (P/E): ―
• Beta (1Y): <0.01
• Revenue Growth: N/A
• EPS Growth: 99.02%
• Country: US
• Employees: 37
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -40.14
• Shares Outstanding: 936,139
• 10 Day Avg. Volume: 7,942,705
• 30 Day Avg. Volume: 11,635,265
• PEG Ratio: <0.01
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.05
• Enterprise Value/Market Cap: -0.81
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 95.32
• Enterprise Value/Ebitda: 0.26
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $9.00 ▲(1375.41% Upside)

The score is held down primarily by very weak financial performance (no revenue, large ongoing losses, and heavy cash burn) and bearish technical signals (price far below key moving averages with negative MACD). Positive corporate developments—especially the extended funding runway and encouraging trial results—partially offset these risks but are not enough to overcome the current fundamentals and momentum.

Positive Factors

Proprietary CD3 platform

Aptevo’s CRIS-7-derived CD3 binding domain and multispecific design enable tumor-localized T-cell and APC activation, reducing systemic toxicity risk. This platform-level differentiation supports durable competitive advantage in engineering safer T-cell engagers for solid tumors and broad pipeline extension.

Strong clinical validation (RAINIER)

Consistent high remission rates and a clean safety profile in frontline AML materially de-risk mipletamig and validate the CD3-engager approach. Durable clinical validation improves regulatory and commercial prospects, strengthens partner/partnering appeal, and supports continued investment in related programs.

Extended funding runway

The $60M standby equity line materially extends discretionary access to capital and funding runway into 2029, enabling multi-year clinical development without immediate emergency financing. This structural liquidity supports program continuity and strategic flexibility through key late-stage readouts.

Negative Factors

No commercial revenue

Zero trailing revenue and persistent operating losses mean the business cannot self-fund R&D or commercialization. Over months this forces dependence on external capital, raises execution risk for advancing multiple programs, and reduces buffer for clinical or regulatory setbacks.

Heavy cash burn

Sustained negative operating and free cash flow near -$26M TTM creates ongoing financing needs. Even with recent facilities, continued cash burn increases probability of further dilutive raises or program delays, constraining long-term strategy and heightening sensitivity to clinical timers.

Balance sheet fragility

While debt is modest today, negative ROE and historical leverage volatility reflect financial fragility if losses persist. This limits non-dilutive financing options, narrows strategic flexibility for M&A or partnerships, and raises the risk profile if pipelines require additional capital to reach commercialization.

Aptevo Therapeutics Business Overview & Revenue Model

Company Description

Aptevo Therapeutics Inc., a clinical-stage biotechnology company, focuses on developing immunotherapeutic candidates for the treatment of various forms of cancer in the United States. Its lead clinical candidate is APVO436, a bispecific T-cell engaging antibody candidate that is in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome. The company's preclinical candidates also include ALG.APV-527, an investigational bispecific ADAPTIR candidate that features a mechanism of action to target 4-1BB (CD137) and 5T4, a tumor antigen expressed in various types of cancers; and APVO603, a dual agonist bispecific antibody to target 4-1BB and OX40. It also develoes APVO442, a bispecific candidate based on the ADAPTIR-FLEX platform technology to enhance biodistribution of drugs to PSMA positive tumors for treatment of prostate cancer. The company has a collaboration and option agreement with Alligator Bioscience AB to develop ALG.APV-527. Aptevo Therapeutics Inc. was incorporated in 2016 and is headquartered in Seattle, Washington.

How the Company Makes Money

Aptevo Therapeutics generates revenue through a combination of product development partnerships, licensing agreements, and research and development collaborations. A significant portion of its revenue comes from milestone payments, royalties, and upfront fees associated with its collaborations and licensing deals. For instance, Aptevo partners with other pharmaceutical companies to co-develop and commercialize its therapeutic candidates, which allows it to share development risks and benefits. Additionally, as its drug candidates progress through clinical trials and potentially reach the market, Aptevo stands to earn revenue from product sales, contingent on successful regulatory approvals and market adoption. Strategic partnerships and collaborations thus play a crucial role in Aptevo's revenue generation, supplementing its efforts to advance its proprietary platforms and therapeutic candidates.

Aptevo Therapeutics Financial Statement Overview

Summary

Financial quality is very weak: revenue is zero in recent periods, losses remain large and persistent (deeply negative EBIT/EBITDA and net income), and cash burn is heavy with deeply negative operating and free cash flow. The balance sheet is somewhat better in the latest period with positive equity and modest leverage, but negative ROE and ongoing burn keep financing risk high.

Income Statement

Operating performance remains very weak. In TTM (Trailing-Twelve-Months), revenue is zero and gross profit is slightly negative, while operating losses are substantial (EBIT and EBITDA deeply negative) and net income is also materially negative. The company has shown no meaningful recent top-line traction (revenue is also zero in 2024 and 2023), and profitability has not stabilized—losses remain large and persistent despite some year-to-year fluctuations.

Balance Sheet

The balance sheet is mixed but somewhat improved versus the most stressed periods. In TTM (Trailing-Twelve-Months), debt is modest relative to equity (debt-to-equity ~0.65) and equity is positive, which provides some cushion. However, returns on equity are sharply negative in TTM (Trailing-Twelve-Months), reflecting ongoing losses, and prior years show volatility in leverage (notably very high debt-to-equity in 2021), underscoring financial risk if losses persist.

Cash Flow

Cash burn is heavy and ongoing. In TTM (Trailing-Twelve-Months), operating cash flow and free cash flow are both deeply negative (roughly -$26M), indicating the business is not self-funding. While free cash flow growth is positive in TTM (Trailing-Twelve-Months) after a weaker 2024, cash generation remains meaningfully negative and closely tracks net losses, which increases financing dependence.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	3.11M	12.29M	4.31M
Gross Profit	-71.00K	-352.00K	0.00	3.11M	12.29M	-13.54M
EBITDA	-26.41M	-23.78M	-28.31M	-27.74M	-20.26M	-26.19M
Net Income	-26.47M	-24.13M	-17.41M	8.03M	-28.46M	-17.75M
Balance Sheet
Total Assets	27.00M	15.59M	24.84M	34.22M	56.60M	53.55M
Cash, Cash Equivalents and Short-Term Investments	21.06M	8.71M	16.90M	22.64M	45.04M	39.98M
Total Debt	3.99M	4.63M	5.40M	9.54M	16.71M	27.41M
Total Liabilities	9.60M	10.84M	12.62M	16.24M	55.38M	36.95M
Stockholders Equity	17.39M	4.75M	12.22M	17.97M	1.22M	16.59M
Cash Flow
Free Cash Flow	-26.11M	-23.79M	-11.73M	-21.05M	-22.39M	-29.41M
Operating Cash Flow	-26.11M	-23.79M	-11.73M	-21.02M	-21.68M	-29.32M
Investing Cash Flow	0.00	0.00	0.00	-29.00K	-713.00K	28.03M
Financing Cash Flow	39.42M	15.60M	6.00M	-2.62M	26.16M	23.87M

Aptevo Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.61
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APVO, the sentiment is Negative. The current price of 0.61 is below the 20-day moving average (MA) of 13.04, below the 50-day MA of 19.67, and below the 200-day MA of 81.45, indicating a bearish trend. The MACD of -3.50 indicates Positive momentum. The RSI at 26.42 is Positive, neither overbought nor oversold. The STOCH value of 50.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for APVO.

Aptevo Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EDSA	50 Neutral	$12.33M	-1.10	-99.57%	―	―	30.29%
LSTA	48 Neutral	$18.35M	-1.00	-71.45%	―	―	15.32%
MBRX	45 Neutral	$12.47M	-0.07	―	―	―	79.31%
APVO	43 Neutral	$8.40M	>-0.01	-256.30%	―	―	99.02%
ALLR	42 Neutral	$18.31M	-0.75	-122.61%	―	―	99.82%

Aptevo Therapeutics Corporate Events

Aptevo Therapeutics Secures $60 Million Equity Financing Facility

On January 8, 2026, Aptevo Therapeutics entered into a $60 million standby equity purchase and equity line of credit arrangement with Yorkville Advisors, giving the company the right, but not the obligation, to sell common shares over 36 months under market-based pricing, within Nasdaq share caps and a 9.99% ownership limit for Yorkville. The structure, which carries relatively modest fees, is expected—together with Aptevo’s existing cash—to extend the company’s funding runway into 2029, supporting ongoing and planned clinical and preclinical development of its multispecific oncology pipeline while preserving strategic flexibility and incremental, discretionary access to capital for general corporate and R&D purposes.

The most recent analyst rating on (APVO) stock is a Hold with a $0.59 price target. To see the full list of analyst forecasts on Aptevo Therapeutics stock, see the APVO Stock Forecast page.

Aptevo Therapeutics Implements 1-for-18 Reverse Stock Split

On July 24, 2025, Aptevo Therapeutics’ stockholders approved a range of potential reverse stock split ratios, after which the board on December 17, 2025 selected a 1-for-18 ratio and filed an amendment to the company’s certificate of incorporation, effective at 5:01 p.m. Eastern Time on December 29, 2025, to implement the reverse split. At the effective time, every 18 shares of issued and outstanding common stock was combined into one share with the same par value, with proportional adjustments made to equity awards and warrants, fractional stock positions settled in cash (or rounded up in the case of warrant exercises), and the overall percentage ownership of stockholders largely unchanged; the stock will begin trading on a split-adjusted basis on Nasdaq on December 30, 2025 under a new CUSIP, a move that can support compliance with listing standards and potentially improve the stock’s marketability.

The most recent analyst rating on (APVO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Aptevo Therapeutics stock, see the APVO Stock Forecast page.

Aptevo Therapeutics Announces Promising RAINIER Trial Results

On December 9, 2025, Aptevo Therapeutics announced promising results from its Phase 1b/2 RAINIER trial for mipletamig in combination with azacitidine and venetoclax for newly diagnosed AML patients unfit for intensive chemotherapy. The trial demonstrated high remission rates and a compelling safety profile, with 100% of patients remaining free of cytokine release syndrome. The results underscore mipletamig’s potential as part of a frontline AML regimen, with the study continuing to enroll patients for further evaluation.

The most recent analyst rating on (APVO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on Aptevo Therapeutics stock, see the APVO Stock Forecast page.