SEATTLE, WA / ACCESSWIRE / September 16, 2024 / Aptevo Therapeutics Inc. Stock price history . (NASDAQ: ), a clinical-stage biotechnology company focused on developing novel immune oncology therapies based on its proprietary ADAPTIRâ„¢ and ADAPTIR-FLEXâ„¢ platform technologies, today announced that it has entered into a securities purchase agreement with a certain healthcare and institutional focus. investors to purchase (i) 9,090,910 shares of our common stock or warrants that have been funded in lieu thereof and (ii) warrants to purchase up to 18,181,820 shares of our common stock (“Common Warrants”) at a purchase price of $0.33 per share and The Common Warrants underlying the direct offering are listed at market prices in accordance with Nasdaq rules. Each share of common stock is offered together with two Common Warrants, each to purchase one share of common stock. The Common Warrants will have an exercise price of $0.33 per share, are exercisable upon shareholder approval, and will expire five years after the date of shareholder approval.
The offering is expected to close on or about September 18, 2024, subject to customary closing conditions. Roth Capital Partners is acting as the placement agent for the offer. Gross proceeds, before deducting placement agent fees and commissions and offering expenses, are estimated to be approximately $3.0 million. The company intends to use the net proceeds of the offering for clinical development of product candidates, working capital, and other general corporate purposes.
The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-281892), which was declared effective by the US Securities and Exchange Commission (“SEC”), on September 16, 2024. The offer is made only by means of a prospectus. A copy of the prospectus relating to and describing the terms of the offering may be obtained, when available, on the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 or by email at rothecm@roth.com. This press release is not and shall not constitute an offer to sell or solicitation of an offer to buy any securities, nor shall there be any sale of such securities in any country or jurisdiction where such offer, solicitation or sale is unlawful. prior to registration or qualification under the securities laws of other countries or jurisdictions. Any offer, if any, will be made only by means of a prospectus, including a prospectus supplement, forming part of the effective registration statement.
The Company has also agreed to convert existing warrants previously issued in July 2024, April 2024 and November 2023 to purchase up to 11,822,774 shares of the Company’s common stock and having an exercise price of $0.515 per share, effective at the closing of the offering. , existing warrants will have a reduced exercise price of $0.33 per share and will be exercisable upon stockholder approval.
Information about the company Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing novel immuno-oncology therapies for the treatment of cancer. Aptevo seeks to improve treatment outcomes for cancer patients. For more information, visit www.aptevotherapeutics.com.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, except for statements of historical fact, include, without limitation, statements regarding the completion, timing, size and use of the proceeds of the offering, satisfaction of customary closing conditions relating to offers and other statements containing the words “may,” “continue,” “believe,” “expect,” “optimism,” “potential,” “planned,” “promise,” “plan,” “will ” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Aptevo’s current intentions, beliefs and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statements will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo’s expectations. Investors, therefore, are cautioned not to place undue reliance on forward-looking statements.
There are a number of important factors that could cause Aptevo’s actual results to differ materially from those indicated by such forward-looking statements, including deterioration in Aptevo’s business or prospects; uncertainty related to market conditions, satisfaction of customary closing conditions related to supply and changes in regulatory, social, macroeconomic, and political conditions. For example, actual results may differ materially from those indicated by forward-looking statements as a result of various important factors, including the uncertainties inherent in the results of preliminary data and preclinical studies as a prediction of the results of later stage clinical trials, initiation, enrollment and patient maintenance, and the completion of clinical trials, the availability and timing of data from ongoing clinical trials, trial designs including combination therapies that may make it difficult to accurately determine the benefits of APVO436, expectations for the timing and steps required in the regulatory review process , expectations for regulatory approval, the impact of competitive products, our ability to enter into agreements with strategic partners or raise funds on acceptable terms or all and other matters that could affect the availability or commercial potential of Aptevo. potential product, business or economic disruptions due to disasters or other events, including natural disasters or public health crises such as the coronavirus (called COVID-19), geopolitical risks, including the current war between Russia and Ukraine, the war between Israel and Hamas, and macroeconomic conditions such as economic uncertainty, rising inflation and interest rates, increased market volatility and declining consumer confidence. These risks are not exhaustive, Aptevo faces known and unknown risks. Additional risks and factors that may affect results are set forth in Aptevo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent reports on Form 10-Q and current reports on Form 8 -K. It describes many, but not all, factors that could cause actual results to differ materially from Aptevo’s expectations in any statement. Any forward-looking statements speak only as of the date of this press release, and, except as required by law, Aptevo assumes no obligation to update any forward-looking statements to reflect new information, events, or circumstances.
IGNITION:
Miriam Weber Miller
Aptevo Therapeutics
Email: IR@apvo.com or Millerm@apvo.com
Phone: 206-859-6628
SOURCE: Aptevo Therapeutics
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