$APVO

Aptevo Therapeutics Inc.

CIK:0001671584|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ (3,696)	$ (3,328)	$ (7,620)	$ (6,961)
General and administrative	(2,747)	(2,898)	(5,660)	(5,745)
Loss from operations	(6,443)	(6,226)	(13,280)	(12,706)
Other income:
Other income, net	87	22	227	94
Net loss	(6,356)	(6,204)	(13,053)	(12,612)
Dividend attributable to down round feature of warrants			(97)	0
Net loss attributable to common stockholders	$ (6,356)	$ (6,204)	$ (13,150)	$ (12,612)
Basic and diluted net loss per share:
Basic net loss per share	$ (5.31)	$ (151.29)	$ (11.19)	$ (555.08)
Diluted net loss per share	$ (5.31)	$ (151.29)	$ (11.19)	$ (555.08)
Shares used in calculation:
Basic shares used in calculation	1,196,364	41,008	1,175,450	22,721
Diluted shares used in calculation	1,196,364	41,008	1,175,450	22,721

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net loss	$ (13,053)	$ (12,612)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	115	17
Non-cash lease expense	541	546
Depreciation and amortization	67	110
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	460	274
Accounts payable	285	(658)
Accrued expenses and other current liabilities	(1,146)	(657)
Operating lease liability	(688)	(688)
Net cash used in operating activities	(13,419)	(13,668)
Investing Activities
Net cash from investing activities	0	0
Financing Activities
Proceeds from issuance of common stock and pre-funded warrants exercise, net of issuance costs	1,598	14,364
Payments in lieu of fractional shares	(1)	0
Net cash provided by financing activities	1,597	14,364
Increase (decrease) in cash and cash equivalents	(11,822)	696
Cash and cash equivalents at beginning of period	21,619	8,714
Cash and cash equivalents at end of period	9,797	9,410
Supplemental Cash Flow Information
Dividend attributable to down round feature of warrants	97	0
Warrant modification - incremental value	$ 0	$ 586

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 9,797	$ 21,619
Prepaid expenses and other current assets	1,001	1,462
Total current assets	10,798	23,081
Property and equipment, net	236	303
Operating lease right-of-use asset	3,484	3,810
Total assets	14,519	27,194
Current liabilities:
Accounts payable	1,162	877
Accrued expenses and other current liabilities	3,107	4,307
Operating lease liability, current portion	919	866
Total current liabilities	5,188	6,050
Operating lease liability, current portion	3,290	3,763
Total liabilities	8,478	9,813
Stockholders' equity:
Preferred stock: $0.001 par value; 15,000,000 shares authorized, zero shares issued or outstanding
Common stock: $0.001 par value; 500,000,000 shares authorized; 1,418,952 and 997,830 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	114	114
Additional paid-in capital	294,191	292,382
Accumulated deficit	(288,264)	(275,115)
Total stockholders' equity	6,041	17,381
Total liabilities and stockholders' equity	$ 14,519	$ 27,194