Aptevo Therapeutics Inc. APVO
We are a clinical-stage, research and development biotechnology company focused on developing novel immunotherapy candidates for the treatment of different forms of cancer. We have developed two versatile and enabling platform technologies for rational design of precision immune modulatory drugs and have two clinical candidates and six preclinical candidates currently in development. Clinical candidate mipletamig is a CD123xCD3 T cell engager currently being clinically evaluated in the RAINIER trail, part one of a Phase 1b/2 program initiated in August 2024 for the treatment of frontline acute myelogenous leukemia (AML) in combination with standard of care venetoclax + azacitidine. Clinical candidate ALG.APV-527 targets 4-1BB (co-stimulatory receptor) and 5T4 (tumor antigen). The compound is designed to reactivate antigen-primed T cells to specifically kill tumor cells and is currently being evaluated for the treatment of multiple solid tumor types, potentially including breast, cervical, non-small- cell-lung, prostate, renal, gastric, colorectal and bladder cancers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $3.1M | $12.3M | $4.3M | $32.4M | $23.1M | $14.7M | $10.0M |
| Cost of revenue | — | — | — | — | — | — | $19.9M | $11.2M | $5.0M | $12.5M |
| Gross profit | — | — | — | — | — | — | $12.5M | $11.9M | $9.6M | -$2.5M |
| R&D | $14.5M | $14.4M | $17.1M | $17.9M | $19.0M | $17.9M | $24.8M | $35.4M | $29.0M | $29.1M |
| SG&A | $11.8M | $10.2M | $11.8M | $13.9M | $14.7M | $14.0M | $16.2M | $28.1M | $34.6M | $36.2M |
| Operating income | -$26.3M | -$24.6M | -$28.9M | -$28.6M | -$21.4M | -$27.5M | -$41.0M | -$51.7M | -$53.9M | -$138.8M |
| Pre-tax income | -$26.0M | -$24.1M | -$18.6M | $7.0M | -$29.4M | -$30.9M | -$43.1M | -$53.7M | -$55.9M | -$139.6M |
| Income tax | $0 | — | — | — | — | — | — | — | $23.3M | $19.7M |
| Net income | -$26.0M | -$24.1M | -$17.4M | $8.0M | -$28.5M | -$17.8M | -$40.4M | -$53.7M | $7.0M | -$112.4M |
| EPS, basic | -87.27 | -31,460.23 | -2,316.83 | 1.57 | -6.07 | — | — | — | — | — |
| EPS, diluted | -87.27 | -31,460.23 | -2,316.83 | 1.57 | -6.07 | -5.23 | -13.86 | -2.39 | 0.33 | -5.55 |
| Shares, diluted (wtd. avg.) | $315.5K | $767 | $7.5K | $5.1M | $4.7M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $21.6M | $8.7M | $16.9M | $22.6M | $45.0M | $40.0M | $12.4M | $30.6M | $7.1M | $9.7M |
| Short-term investments | — | — | — | — | — | — | — | — | $73.7M | $44.8M |
| Receivables | — | — | — | — | — | — | $7.0M | $5.2M | $2.1M | $307.0K |
| Inventory | — | — | — | — | — | — | $6.1M | $1.8M | $1.0M | $461.0K |
| Total current assets | $23.1M | $10.7M | $19.1M | $27.4M | $52.6M | $47.3M | $30.0M | $48.7M | $95.1M | $71.4M |
| Property, plant and equipment | $303.0K | $543.0K | $895.0K | $1.5M | $2.4M | $2.8M | $3.9M | $5.2M | $5.8M | $5.9M |
| Goodwill | — | — | — | — | — | — | — | — | — | $29.2M |
| Other intangibles | — | — | — | — | — | — | $4.4M | $5.2M | $6.1M | $6.9M |
| Total assets | $27.2M | $15.6M | $24.8M | $34.2M | $56.6M | $53.5M | $53.4M | $67.5M | $117.0M | $91.9M |
| Accounts payable | $877.0K | $1.2M | — | — | — | — | — | — | — | — |
| Short-term debt | — | — | — | $2.0M | $11.7M | $5.0M | $19.9M | — | $3.3M | — |
| Total current liabilities | $6.0M | $6.2M | $7.2M | $8.7M | $34.8M | $14.5M | $38.2M | $17.6M | $18.5M | $19.5M |
| Long-term debt | — | — | $0 | $1.5M | $3.7M | $28.2M | — | $19.3M | $15.7M | $18.4M |
| Total liabilities | $9.8M | $10.8M | $12.6M | $16.2M | $55.4M | $37.0M | $41.6M | $37.1M | $35.0M | $41.3M |
| Retained earnings | -$275.1M | -$247.6M | -$223.4M | -$206.0M | -$214.1M | -$185.6M | -$167.9M | -$127.4M | -$73.7M | -$80.7M |
| Total equity | $17.4M | $4.8M | $12.2M | $18.0M | $1.2M | $16.6M | $11.8M | $30.4M | $82.0M | $50.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.6M | -$23.8M | -$11.7M | -$21.0M | -$21.7M | -$29.3M | -$42.4M | -$51.4M | -$41.6M | -$36.9M |
| Depreciation and amortisation | $240.0K | $352.0K | $567.0K | $901.0K | $1.1M | $1.4M | $2.2M | $2.4M | $3.1M | $3.4M |
| Stock-based compensation | $96.0K | $1.1M | $2.2M | $1.8M | $1.6M | $1.3M | $1.6M | $2.1M | $4.9M | $3.8M |
| Capital expenditure | — | — | — | $29.0K | $713.0K | $88.0K | $153.0K | $976.0K | $1.4M | $2.5M |
| Investing cash flow | $0 | $0 | $0 | -$29.0K | -$713.0K | $28.0M | $4.1M | $72.8M | $29.5M | -$47.4M |
| Financing cash flow | $38.5M | $15.6M | $6.0M | -$2.6M | $26.2M | $23.9M | $20.1M | -$787.0K | $19.5M | $89.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-126278.
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