Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -213%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Weak multi-year price returns
2Y Excs Rtn is -136%, 3Y Excs Rtn is -171%

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -27 Mil

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -558%

Key risks
APVO key risks include [1] a high probability of bankruptcy driven by significant operating losses and a limited cash runway, Show more.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -213%
1 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -136%, 3Y Excs Rtn is -171%
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -27 Mil
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -558%
6 Key risks
APVO key risks include [1] a high probability of bankruptcy driven by significant operating losses and a limited cash runway, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

Aptevo Therapeutics (APVO) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Positive clinical trial results for mipletamig in Acute Myeloid Leukemia (AML) significantly bolstered investor confidence. Aptevo Therapeutics reported an 87% clinical benefit rate and an 81% remission rate (CR/CRi) in 31 evaluable frontline AML patients treated with mipletamig in combination with venetoclax and azacitidine, substantially outperforming benchmarks. The RAINIER trial also demonstrated a favorable safety profile with no cytokine release syndrome (CRS) observed in frontline patients, and is on track for completion and Phase 2 dose selection by the end of fiscal year 2026.

2. Enhanced financial flexibility and an extended cash runway reassured investors about the company's operational stability. Aptevo secured a new $60 million Standby Equity Purchase Agreement (SEPA), which is expected to extend the company's capital access into fiscal year 2029. This financing mechanism, combined with holding $14.5 million in cash as of March 31, 2026 (the end of fiscal Q1 2026), provided a crucial lifeline for the clinical-stage biotechnology firm, which reported no revenue in fiscal Q1 2026.

Show more
Updated on 7/1/2026

Aptevo Therapeutics (APVO) stock has gained about 5% since 3/31/2026 because of the following key factors:

1. Positive clinical trial results for mipletamig in Acute Myeloid Leukemia (AML) significantly bolstered investor confidence. Aptevo Therapeutics reported an 87% clinical benefit rate and an 81% remission rate (CR/CRi) in 31 evaluable frontline AML patients treated with mipletamig in combination with venetoclax and azacitidine, substantially outperforming benchmarks. The RAINIER trial also demonstrated a favorable safety profile with no cytokine release syndrome (CRS) observed in frontline patients, and is on track for completion and Phase 2 dose selection by the end of fiscal year 2026.

2. Enhanced financial flexibility and an extended cash runway reassured investors about the company's operational stability. Aptevo secured a new $60 million Standby Equity Purchase Agreement (SEPA), which is expected to extend the company's capital access into fiscal year 2029. This financing mechanism, combined with holding $14.5 million in cash as of March 31, 2026 (the end of fiscal Q1 2026), provided a crucial lifeline for the clinical-stage biotechnology firm, which reported no revenue in fiscal Q1 2026.

3. Strategic collaborations and non-dilutive grant funding diversified the pipeline and provided external validation. Aptevo launched a strategic collaboration with Niowave for radiopharmaceutical therapeutic development in late fiscal Q2 2026, which included a strategic equity investment from Niowave. Additionally, Aptevo received a $1.5 million non-dilutive research grant from the Andy Hill CARE Fund to support IND-enabling work for APVO451, a trispecific immunotherapy candidate for solid tumors, in fiscal Q2 2026.

4. A generally improved sentiment in the broader biotechnology sector provided a favorable market backdrop. The first half of fiscal year 2026 saw an acceleration in the biotechnology sector's upswing, characterized by an increase in mergers and acquisitions (M&A) activity and improving financing conditions. Layoffs in the biopharma industry eased in fiscal Q2 2026, and investment continued to be driven by biopharmaceutical advancements and AI-driven drug discovery, rather than speculative endeavors.

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Stock Movement Drivers

Fundamental Drivers

The 4.7% change in APVO stock from 3/31/2026 to 7/4/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)33120267042026Change
Stock Price ($)4.274.474.7%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)11-5.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/4/2026
ReturnCorrelation
APVO4.7% 
Market (SPY)14.5%18.1%
Sector (XLV)11.7%-7.3%

Fundamental Drivers

The -52.6% change in APVO stock from 12/31/2025 to 7/4/2026 was primarily driven by a -78.8% change in the company's Shares Outstanding (Mil).
(LTM values as of)123120257042026Change
Stock Price ($)9.434.47-52.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)01-78.8%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/4/2026
ReturnCorrelation
APVO-52.6% 
Market (SPY)9.5%22.5%
Sector (XLV)6.2%11.5%

Fundamental Drivers

The -91.9% change in APVO stock from 6/30/2025 to 7/4/2026 was primarily driven by a -99.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020257042026Change
Stock Price ($)54.904.47-91.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)01-99.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/4/2026
ReturnCorrelation
APVO-91.9% 
Market (SPY)21.6%20.1%
Sector (XLV)23.1%10.0%

Fundamental Drivers

The -100.0% change in APVO stock from 6/30/2023 to 7/4/2026 was primarily driven by a -100.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)63020237042026Change
Stock Price ($)855676.804.47-100.0%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)01-100.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/4/2026
ReturnCorrelation
APVO-100.0% 
Market (SPY)74.0%7.2%
Sector (XLV)29.1%11.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
APVO Return-79%-71%-92%-99%-99%-53%-100%
Peers Return-14%-22%18%-9%7%36%5%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
APVO Win Rate0%33%0%42%17%57% 
Peers Win Rate40%47%50%53%47%51% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
APVO Max Drawdown-84%-76%-93%-99%-99%-60% 
Peers Max Drawdown-43%-50%-35%-46%-47%-23% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: XNCR, MGNX, ZYME, AMGN, REGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)

How Low Can It Go

EventAPVOS&P 500
2020 COVID-19 Crash
  % Loss-54.7%-33.7%
  % Gain to Breakeven120.7%50.9%
  Time to Breakeven38 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-32.1%-3.7%
  % Gain to Breakeven47.2%3.9%
  Time to Breakeven209 days6 days

Compare to XNCR, MGNX, ZYME, AMGN, REGN

In The Past

Aptevo Therapeutics's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventAPVOS&P 500
2020 COVID-19 Crash
  % Loss-54.7%-33.7%
  % Gain to Breakeven120.7%50.9%
  Time to Breakeven38 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-32.1%-3.7%
  % Gain to Breakeven47.2%3.9%
  Time to Breakeven209 days6 days

Compare to XNCR, MGNX, ZYME, AMGN, REGN

In The Past

Aptevo Therapeutics's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Aptevo Therapeutics (APVO)

Aptevo Therapeutics Inc. (APVO) is a clinical-stage biotechnology company dedicated to developing innovative immunotherapeutic candidates for the treatment of various forms of cancer. The company leverages its proprietary bispecific antibody platforms, including ADAPTIR and ADAPTIR-FLEX, to create novel therapies designed to harness the body's immune system to fight cancer cells.

The company's lead clinical candidate is APVO436, a bispecific T-cell engaging antibody currently in Phase 1b clinical trials for acute myelogenous leukemia (AML) and myelodysplastic syndrome (MDS). Beyond APVO436, Aptevo has a robust preclinical pipeline featuring several bispecific candidates. These include ALG.APV-527, being developed in collaboration with Alligator Bioscience AB, which targets 4-1BB and 5T4 for various cancers; APVO603, a dual agonist bispecific antibody targeting 4-1BB and OX40; and APVO442, designed to enhance drug delivery to PSMA-positive tumors for prostate cancer.

Aptevo Therapeutics primarily serves the oncology market, focusing on developing treatments for patients suffering from challenging cancers such as acute myelogenous leukemia, myelodysplastic syndrome, and prostate cancer, as well as other solid tumors targeted by their preclinical programs. As a clinical-stage company, its ultimate goal is to bring these novel immunotherapies to patients, healthcare providers, and the broader pharmaceutical market globally.

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1. An early-stage Amgen, but singularly focused on developing innovative bispecific immunotherapies for cancer.

2. Like a startup Genentech (Roche), specializing in next-generation antibody-based immunotherapies for cancer.

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  • APVO436: A bispecific T-cell engaging antibody candidate in Phase 1b clinical trial for acute myelogenous leukemia and myelodysplastic syndrome.
  • ALG.APV-527: An investigational bispecific ADAPTIR candidate designed to target 4-1BB (CD137) and 5T4 for various types of cancers.
  • APVO603: A dual agonist bispecific antibody preclinical candidate targeting 4-1BB and OX40.
  • APVO442: A bispecific candidate utilizing ADAPTIR-FLEX platform technology to enhance drug biodistribution to PSMA positive tumors for prostate cancer treatment.

AI Analysis | Feedback

Aptevo Therapeutics Inc. (APVO) is a clinical-stage biotechnology company focused on the development of immunotherapeutic candidates for various forms of cancer. As such, the company is primarily engaged in research and development, and conducting clinical trials for its drug candidates (e.g., APVO436, ALG.APV-527, APVO603, APVO442).

At this stage, Aptevo Therapeutics does not have commercialized products on the market and therefore does not have major customers (either other companies or individuals) in the traditional sense of selling goods or services.

The company does have a collaboration and option agreement with Alligator Bioscience AB for the development of ALG.APV-527, which represents a partnership for drug development rather than a customer relationship.

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  • Lonza Group AG (LONN)

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Marvin L. White President and Chief Executive Officer

Marvin L. White currently serves as President and Chief Executive Officer of Aptevo Therapeutics and has been a Board Member since August 2016. Effective April 1, 2026, he will transition to the role of Executive Chair. Prior to Aptevo, he served as Chief Financial Officer of St. Vincent Health. Before that, Mr. White was Chief Financial Officer of LillyUSA, a subsidiary of Eli Lilly and Company, where he also held leadership positions in Corporate Finance and Investment Banking. Earlier in his career, he held leadership positions at General Motors, Hewlett-Packard, and Motorola, including financial roles in their Japan, South Asia, and Latin America Cellular Group. Mr. White is also a Director on the Board at OneAmerica Financial Partners, Delta Dental of Washington, and Emergent Biosolutions.

Daphne Taylor Senior Vice President and Chief Financial Officer

Daphne Taylor leads Finance, Investor Relations, and IT for Aptevo Therapeutics. She previously served as Aptevo's Senior Vice President of Finance, holding responsibility for strategic planning, budgeting, treasury activities, and financial reporting and compliance. Ms. Taylor brings over 25 years of financial experience from the life sciences and technology industries. Before joining Aptevo, she served as Chief Financial Officer at BioLife Solutions.

Jeff Lamothe Executive Vice President and Chief Operating Officer

Jeff Lamothe currently serves as Executive Vice President and Chief Operating Officer at Aptevo Therapeutics, where he leads the Clinical, Research & Development, Quality, Manufacturing, and Operations organizations. Effective April 1, 2026, Mr. Lamothe will be promoted to President and Chief Executive Officer and will join the company's Board of Directors. He previously served as Aptevo's Executive Vice President and Chief Financial Officer. Prior to Aptevo, he was Vice President of Finance in the Biosciences Division at Emergent BioSolutions. Mr. Lamothe assumed this role following Emergent's acquisition of Cangene Corporation in 2014, where he had been Chief Financial Officer. His extensive career, spanning over 25 years, includes experience in CEO, COO, and CFO roles across several industries, including serving as President and Chief Executive Officer of Kitchen Craft Cabinetry and Chief Financial Officer of Smith Carter Architects and Engineers Incorporated.

Dirk Huebner, M.D. Chief Medical Officer

Dr. Dirk Huebner serves as Chief Medical Officer, bringing approximately 29 years of academic and industry-based clinical drug development experience in the biotech and pharmaceutical industries. He has led multiple clinical programs across all stages of development, from Phase 1 through Phase 3 registration trials. Before joining Aptevo, Dr. Huebner served as CMO and Senior Medical Advisor for Mersana from November 2018 to January 2021, where he established their clinical development department. His previous roles include leadership positions in global clinical drug development at Takeda, Genzyme, Roche, and Bristol-Myers Squibb.

AI Analysis | Feedback

Aptevo Therapeutics (APVO) faces significant risks primarily due to its financial standing and the inherent challenges of clinical-stage biotechnology development. The key risks to Aptevo Therapeutics are:
  1. Financial Viability and Need for Additional Capital: Aptevo Therapeutics has a history of losses and a stated uncertainty about achieving profitability, which raises concerns about its ability to continue as a going concern. The company consistently requires additional capital to fund its operations and advance its clinical programs, and there is no guarantee it can raise these funds on acceptable terms. This is further highlighted by a reported high probability of financial distress and substantial shareholder dilution in the past year.
  2. Clinical Development and Regulatory Approval Risks: As a clinical-stage biotechnology company, Aptevo Therapeutics' future success is heavily dependent on the successful outcome of its ongoing clinical trials and its ability to obtain regulatory approvals for its product candidates. The process of advancing drugs through costly late-stage trials and securing regulatory authorization is complex, lengthy, and carries a high degree of uncertainty.
  3. Potential Nasdaq Delisting: The company faces the risk of potential delisting from the Nasdaq Capital Market if it fails to maintain compliance with listing requirements. Such a delisting would significantly and adversely affect the liquidity and market price of Aptevo's common stock, making it more challenging to raise capital and diminishing investor confidence.

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The addressable markets for Aptevo Therapeutics' main clinical-stage product candidates are as follows:

  • APVO436 (Acute Myelogenous Leukemia - AML): The global acute myelogenous leukemia treatment market was estimated at USD 3.47 billion in 2024 and is projected to reach USD 6.29 billion by 2030. Another estimate places the global market at USD 2.1 billion in 2023, with a projection to reach USD 5.1 billion by 2032. The North American market held a 37.6% share of the global market in 2024, with the U.S. specifically accounting for 90.9% of the North American market.
  • APVO436 (Myelodysplastic Syndrome - MDS): The global myelodysplastic syndrome drugs market was valued at USD 4.55 billion in 2024 and is anticipated to reach approximately USD 11.17 billion by 2034. Another source indicates the global market size was USD 2.8 billion in 2023, with an estimated growth to USD 5.5 billion by 2032. The U.S. myelodysplastic syndrome drugs market was estimated at nearly USD 2,000 million (USD 2 billion) in 2023 and accounted for 30% of the global market in 2024. North America dominated the global market with a revenue share of 36% in 2024.
  • APVO442 (Prostate Cancer): The global prostate cancer therapeutics market was estimated at USD 17.0 billion in 2024 and is projected to reach USD 31.99 billion by 2030. Another report estimates the global market to grow from US$ 13.22 billion in 2024 to US$ 28.10 billion by 2033. The North American prostate cancer therapeutics market dominated the global market with a 40.8% revenue share in 2024, with the U.S. market being the largest within North America. The total Prostate Cancer Treatment Market Size in the 7MM (7 Major Markets) was nearly USD 12,300 million (USD 12.3 billion) in 2023, with the U.S. accounting for the largest share.

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Expected Drivers of Future Revenue Growth for Aptevo Therapeutics (APVO)

Over the next 2-3 years, Aptevo Therapeutics' future revenue growth is anticipated to be driven by the advancement of its clinical and preclinical pipeline, as well as strategic partnerships. As a clinical-stage biotechnology company, its revenue trajectory will primarily depend on achieving key developmental and regulatory milestones for its novel immunotherapeutic candidates.

  • Advancement of Mipletamig (APVO436) in Acute Myeloid Leukemia (AML): Mipletamig, also known as APVO436, is Aptevo's lead clinical candidate, a bispecific T-cell engaging antibody. It is currently being evaluated in a Phase 1b/2 trial for frontline AML in combination with standard-of-care venetoclax and azacitidine. Positive interim data from earlier trials reported high remission rates (up to 89% in evaluable frontline AML patients across two trials) and no observed cytokine release syndrome, distinguishing it from other therapies in this space. Successful progression through these later-stage trials, potentially leading to accelerated regulatory pathways or significant licensing agreements, is a key driver for future revenue.
  • Clinical Progress and Potential Partnerships for ALG.APV-527 in Solid Tumors: The investigational bispecific ADAPTIR candidate, ALG.APV-527, is being co-developed with Alligator Bioscience AB for the treatment of various solid tumor types. Preliminary data from its Phase 1 trial, reported in late 2024, indicated that the trial met endpoints for adequate exposure, safety, tolerability, and biological activity, with 56% to 60% of evaluable patients achieving stable disease. Further positive clinical development of ALG.APV-527 could lead to milestone payments from the existing collaboration or attract new partnerships, contributing to revenue growth.
  • Expansion and Partnering of the Trispecific Pipeline (APVO451 and APVO452): Aptevo expanded its oncology pipeline in late 2025 with the introduction of new trispecific candidates, APVO452 and APVO451. APVO452 targets prostate cancer, while APVO451 is designed for multiple solid tumor types, both leveraging the company's proprietary ADAPTIR-FLEX platform. Although these are preclinical programs, their successful advancement and the potential for new licensing deals or collaborations based on this expanded pipeline could become significant revenue drivers in the mid to long term.
  • Strategic Collaborations and Licensing of Proprietary ADAPTIR™ and ADAPTIR-FLEX™ Platform Technologies: Aptevo's core strength lies in its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, which enable the development of bispecific and trispecific antibodies. Future revenue growth can be generated through new strategic partnerships and licensing agreements where other pharmaceutical companies utilize Aptevo's platform to develop their own therapeutic candidates, providing upfront payments, research funding, and potential milestone payments and royalties on future sales.

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Share Issuance

  • Aptevo Therapeutics raised $18.7 million net in Q3 2025 through its Standby Equity Purchase Agreement with Yorkville and an At-The-Market (ATM) agreement, with an additional $4.1 million net raised in October 2025.
  • In the second quarter of 2025, the company raised approximately $15.9 million in gross proceeds from various equity offerings, including an $8 million registered direct offering.
  • Aptevo executed two reverse stock splits, a 1-for-20 split in May 2025 and a 1-for-18 split in December 2025, primarily to maintain Nasdaq listing compliance.

Inbound Investments

  • In January 2026, Aptevo secured a $60 million equity line of credit with Yorkville Advisors to fund ongoing clinical development, advance preclinical programs, and for general corporate purposes, extending its funding runway into 2029.
  • The company raised $18.7 million net in Q3 2025 and an additional $4.1 million net in October 2025 through a Standby Equity Purchase Agreement and an At-The-Market offering.
  • In Q2 2025, Aptevo raised approximately $15.9 million in gross proceeds from various equity offerings.

Capital Expenditures

  • Aptevo Therapeutics invested $0 in capital expenditures in Q3 2024.
  • The company's Net Property, Plant & Equipment balance ranged between approximately $3.96 million and $6.77 million from 2020 to Q3 2025.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Aptevo Therapeutics Earnings Notes12/16/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

APVOXNCRMGNXZYMEAMGNREGNMedian
NameAptevo T.Xencor Macrogen.ZymeworksAmgen Regenero. 
Mkt Price4.4715.004.7126.31374.15654.2720.66
Mkt Cap0.01.10.32.0202.068.01.5
Rev LTM0971578137,22014,920127
Op Inc LTM-27-212-64-11410,5683,843-45
FCF LTM-27-189-72-788,5973,791-49
FCF 3Y Avg-25-159-86-788,8703,561-51
CFO LTM-27-187-70-7510,7565,013-48
CFO 3Y Avg-25-151-84-7510,3484,568-50

Growth & Margins

APVOXNCRMGNXZYMEAMGNREGNMedian
NameAptevo T.Xencor Macrogen.ZymeworksAmgen Regenero. 
Rev Chg LTM--23.5%2.0%-13.0%9.1%5.9%2.0%
Rev Chg 3Y Avg-8.6%61.3%-5.5%12.5%6.4%8.6%
Rev Chg Q--86.2%57.5%-91.1%5.8%19.0%5.8%
QoQ Delta Rev Chg LTM--22.5%5.1%-23.3%1.3%4.0%1.3%
Op Inc Chg LTM-10.7%-27.1%36.0%-5.8%41.9%-2.4%-4.1%
Op Inc Chg 3Y Avg4.1%-11.2%-5.0%-54.3%8.8%-6.3%-5.7%
Op Mgn LTM--217.9%-40.5%-140.2%28.4%25.8%-40.5%
Op Mgn 3Y Avg--140.9%-176.2%-183.4%24.6%28.1%-140.9%
QoQ Delta Op Mgn LTM--76.6%8.2%-53.0%3.7%-0.1%-0.1%
CFO/Rev LTM--191.6%-44.5%-92.7%28.9%33.6%-44.5%
CFO/Rev 3Y Avg--126.4%-115.3%-106.0%30.7%32.6%-106.0%
FCF/Rev LTM--194.0%-45.6%-95.4%23.1%25.4%-45.6%
FCF/Rev 3Y Avg--132.0%-118.4%-110.8%26.4%25.5%-110.8%

Valuation

APVOXNCRMGNXZYMEAMGNREGNMedian
NameAptevo T.Xencor Macrogen.ZymeworksAmgen Regenero. 
Mkt Cap0.01.10.32.0202.068.01.5
P/S-11.61.924.25.44.65.4
P/Op Inc-0.2-5.3-4.7-17.219.117.7-2.4
P/EBIT-0.2-7.9-5.2-17.717.213.1-2.7
P/E-0.2-6.5-4.2-19.125.915.4-2.2
P/CFO-0.2-6.1-4.3-26.118.813.6-2.2
Total Yield-553.8%-15.3%-23.5%-5.2%6.4%7.1%-10.3%
Dividend Yield0.0%0.0%0.0%0.0%2.6%0.6%0.0%
FCF Yield 3Y Avg-910.6%-17.1%-47.3%-7.5%5.2%4.3%-12.3%
D/E0.90.20.10.00.30.00.1
Net D/E-2.1-0.2-0.4-0.20.2-0.1-0.2

Returns

APVOXNCRMGNXZYMEAMGNREGNMedian
NameAptevo T.Xencor Macrogen.ZymeworksAmgen Regenero. 
1M Rtn-12.0%24.9%10.8%4.8%8.3%4.1%6.5%
3M Rtn7.2%17.1%53.4%2.0%8.3%-14.0%7.8%
6M Rtn-52.4%0.5%192.5%-1.2%15.9%-15.5%-0.3%
12M Rtn-91.8%78.1%241.3%104.1%29.2%20.2%53.7%
3Y Rtn-100.0%-38.2%-11.0%207.0%81.6%-8.1%-9.5%
1M Excs Rtn-9.6%35.5%18.0%10.8%15.6%10.2%13.2%
3M Excs Rtn-6.6%5.9%48.6%-12.4%-7.1%-29.5%-6.9%
6M Excs Rtn-60.9%-8.7%193.4%-9.4%7.0%-23.7%-9.0%
12M Excs Rtn-112.3%65.1%253.1%91.3%11.9%2.2%38.5%
3Y Excs Rtn-170.9%-111.0%-81.5%150.7%13.4%-78.8%-80.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20232022202120202019
Discovery and development of novel oncology therapeutics031240
Total031240


Net Income by Segment
$ Mil20252024
Discovery and development of novel oncology therapeutics-26-24
Total-26-24


Assets by Segment
$ Mil20242023202220212019
Discovery and development of novel oncology therapeutics1625345753
Total1625345753


Price Behavior

Price Behavior
Market Price$4.47 
Market Cap ($ Bil)0.0 
First Trading Date07/20/2016 
Distance from 52W High-92.3% 
   50 Days200 Days
DMA Price$4.82$12.83
DMA Trenddownup
Distance from DMA-7.3%-65.2%
 3M1YR
Volatility58.9%96.6%
Downside Capture117.50385.63
Upside Capture88.093.70
Correlation (SPY)19.2%19.5%
APVO Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.720.391.061.271.540.71
Up Beta0.03-1.370.791.621.580.34
Down Beta2.191.811.46-0.250.650.69
Up Capture-18%-1%93%60%4%-7%
Bmk +ve Days11244067140429
Stock +ve Days714265394287
Down Capture89%71%122%212%193%113%
Bmk -ve Days10172358112321
Stock -ve Days13263570153447

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with APVO
APVO-91.7%96.2%-2.12-
Sector ETF (XLV)21.4%15.6%1.0510.2%
Equity (SPY)21.7%12.5%1.2920.1%
Gold (GLD)23.1%27.7%0.73-6.7%
Commodities (DBC)21.3%18.6%0.90-3.6%
Real Estate (VNQ)13.6%13.8%0.683.3%
Bitcoin (BTCUSD)-42.0%42.7%-1.1516.5%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with APVO
APVO-95.0%148.1%-1.38-
Sector ETF (XLV)7.2%14.9%0.3012.2%
Equity (SPY)13.3%17.1%0.6011.4%
Gold (GLD)17.9%18.3%0.79-0.4%
Commodities (DBC)6.9%19.5%0.255.6%
Real Estate (VNQ)3.1%18.9%0.0610.8%
Bitcoin (BTCUSD)12.2%53.8%0.418.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with APVO
APVO-80.8%127.9%-0.74-
Sector ETF (XLV)10.6%16.6%0.5213.8%
Equity (SPY)15.4%18.0%0.7314.5%
Gold (GLD)12.1%16.1%0.61-0.4%
Commodities (DBC)5.7%18.0%0.257.8%
Real Estate (VNQ)5.5%20.7%0.2311.6%
Bitcoin (BTCUSD)59.0%66.2%0.998.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 5312026-0.1%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest2.2 days
Basic Shares Quantity1.1 Mil
Short % of Basic Shares7.5%

Earnings Returns History

Updated 6/16/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/13/20260.7%-4.3%0.4%
3/26/2026-5.3%-7.5%9.1%
11/6/20250.0%-1.4%-15.6%
8/11/2025-4.9%-11.5%-32.3%
5/15/2025-3.0%-9.1%-44.5%
2/14/2025-8.2%-4.7%-27.5%
11/7/202419.8%-5.9%1.6%
8/8/20240.5%-0.1%-20.7%
...
SUMMARY STATS   
# Positive1068
# Negative111513
Median Positive5.1%12.6%3.1%
Median Negative-5.3%-7.5%-20.7%
Max Positive32.8%22.5%25.4%
Max Negative-11.6%-36.5%-44.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/13/20260.7%-4.3%0.4%
3/26/2026-5.3%-7.5%9.1%
11/6/20250.0%-1.4%-15.6%
8/11/2025-4.9%-11.5%-32.3%
5/15/2025-3.0%-9.1%-44.5%
2/14/2025-8.2%-4.7%-27.5%
11/7/202419.8%-5.9%1.6%
8/8/20240.5%-0.1%-20.7%
5/8/2024-11.6%-28.6%-26.9%
3/5/2024-8.6%-29.3%-39.0%
11/14/20236.8%13.0%-2.1%
8/10/2023-9.7%-18.2%-18.0%
5/11/2023-2.3%-2.9%-9.8%
11/10/20222.5%12.3%25.4%
8/11/2022-1.8%-13.6%-14.6%
5/12/202211.3%22.5%4.2%
3/24/202232.8%16.0%-10.7%
11/12/2021-8.7%-36.5%-36.2%
8/12/20213.5%5.2%1.9%
5/11/2021-1.1%4.9%20.5%
11/10/20209.1%-6.2%0.4%
SUMMARY STATS   
# Positive1068
# Negative111513
Median Positive5.1%12.6%3.1%
Median Negative-5.3%-7.5%-20.7%
Max Positive32.8%22.5%25.4%
Max Negative-11.6%-36.5%-44.5%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/13/202610-Q
12/31/202503/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/11/202510-Q
03/31/202505/15/202510-Q
12/31/202402/14/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/08/202410-Q
12/31/202303/05/202410-K
09/30/202311/14/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/30/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
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Report DateFiling DateFiling
03/31/202605/13/202610-Q
12/31/202503/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/11/202510-Q
03/31/202505/15/202510-Q
12/31/202402/14/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/08/202410-Q
12/31/202303/05/202410-K
09/30/202311/14/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/30/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202103/24/202210-K
09/30/202111/12/202110-Q
06/30/202108/12/202110-Q
03/31/202105/11/202110-Q
12/31/202003/31/202110-K
09/30/202011/10/202010-Q
06/30/202008/14/202010-Q
03/31/202005/13/202010-Q
12/31/201903/25/202010-K
09/30/201911/07/201910-Q
06/30/201908/09/201910-Q

Insider Activity

Updated 4/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Grant, Grady Iii DirectBuy111220251.4913,51320,13420,136Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Grant, Grady Iii DirectBuy111220251.4913,51320,13420,136Form
Core Cache Last Updated: 7/4/2026