Aptevo Therapeutics (APVO) AI Stock Analysis

• Market Cap: $7.52M
• 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: 997,830
• 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: 0.32
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -34.07
• Enterprise Value/Ebitda: -0.09
• 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: $6.50 ▲(965.57% Upside)

The score is held down primarily by very weak financial performance (no revenue, large ongoing losses, and heavy cash burn) and a strong technical downtrend. Offsetting this somewhat are positive corporate events—extended financing runway and encouraging trial results—while valuation offers limited support due to the company’s loss-making profile.

Positive Factors

Extended Funding Runway

The $60M standby equity facility materially extends discretionary financing into 2029, reducing immediate liquidity pressure and enabling multi-year clinical development. This structural access to capital supports planned trials and pipeline advancement while preserving strategic flexibility for R&D execution.

Promising RAINIER Trial Results

Strong safety and remission signals in the RAINIER trial provide clinical validation for mipletamig in frontline AML settings. Durable efficacy and clean safety profile enhance the drug's development pathway, increase the platform's scientific credibility, and materially improve longer-term commercial and partnership prospects if confirmed in later phases.

Leadership Continuity

Internal CEO succession and board expansion emphasize continuity and institutional knowledge retention. Promoting an operator with finance and operational experience reduces execution risk, helps preserve strategic momentum for clinical programs, and supports consistent capital and trial management during the next development phase.

Negative Factors

No Revenue

The company reports zero recent revenue, reflecting lack of commercialized products and reliance on clinical success to generate future sales. Absence of top-line cash inflows makes the business structurally dependent on external financing and partnerships for survival and scale, increasing long-term execution risk.

Heavy Cash Burn

Operating and free cash flow are deeply negative (~-$26M TTM), indicating persistent cash consumption to fund R&D and operations. Sustained burn necessitates repeated capital raises or licensing deals, which dilute shareholders and constrain strategic optionality if clinical timelines slip or costs rise.

Persistent Operating Losses

Substantial, sustained operating losses and negative returns on equity show profitability is not near-term. Continued negative EBITDA limits reinvestment capacity and increases reliance on external capital; if clinical or regulatory setbacks occur, the company's financial resilience could be quickly strained.

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

Overall fundamentals are weak: revenue is zero in recent periods, losses remain substantial (deeply negative EBIT/EBITDA and net income), and operating/free cash flow are heavily negative (~-$26M TTM). The balance sheet is somewhat less stressed with positive equity and modest leverage (debt-to-equity ~0.65 TTM), but persistent cash burn and lack of revenue traction dominate risk.

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: Negative
• RSI: Positive
• STOCH: Positive

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 8.60, below the 50-day MA of 14.80, and below the 200-day MA of 52.48, indicating a bearish trend. The MACD of -2.01 indicates Negative momentum. The RSI at 24.48 is Positive, neither overbought nor oversold. The STOCH value of 13.20 is Positive, 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
LSTA	52 Neutral	$40.22M	-2.15	-71.45%	―	―	15.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EDSA	50 Neutral	$10.25M	-0.85	-99.57%	―	―	30.29%
MBRX	45 Neutral	$12.69M	-0.07	―	―	―	79.31%
APVO	43 Neutral	$7.52M	>-0.01	-256.30%	―	―	99.02%
ALLR	40 Underperform	$15.50M	-0.55	-122.61%	―	―	99.82%

Aptevo Therapeutics Corporate Events

Aptevo Therapeutics Announces CEO Transition and Leadership Changes

On February 3, 2026, Aptevo Therapeutics announced that President and Chief Executive Officer Marvin White, who has led the company since 2016, will retire from the CEO role effective April 1, 2026, becoming Executive Chair while current Chief Operating Officer Jeff Lamothe is promoted to President and CEO and appointed to the board, expanding it from six to seven members. The leadership reshuffle, which also sees current Chairman John E. Niederhuber, M.D., move to Lead Independent Director, is positioned as a continuity-focused transition at what management describes as an inflection point marked by a clinically validated platform, expanded oncology pipeline, and strengthened balance sheet; compensation adjustments, severance-plan changes aligning Executive Chair benefits with CEO-level protections, and Lamothe’s operational and financial track record underscore Aptevo’s intent to maintain strategic momentum and support its next phase of growth in cancer immunotherapies.

The most recent analyst rating on (APVO) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on Aptevo Therapeutics stock, see the APVO Stock Forecast page.

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.