0001193125-26-126278
SEC filingAptevo Therapeutics Inc. reported a net loss of $26.0 million for the fiscal year ended December 31, 2025, compared to a net loss of $24.1 million in the prior year. The company's loss from operations was $26.3 million, driven by research and development expenses of $14.5 million and general and administrative expenses of $11.8 million. Cash and cash equivalents stood at $21.6 million as of year-end, with a net cash increase of $12.9 million for the year, primarily from $38.5 million in financing activities, including equity offerings. The company's accumulated deficit reached $275.1 million, and management has concluded that substantial doubt exists about its ability to continue as a going concern. Key forward-looking items include the clinical development of mipletamig and ALG.APV-527, reliance on additional funding, and potential milestone payments from Medexus related to IXINITY.
Aptevo Therapeutics Inc. reported a net loss of $26.0 million for the fiscal year ended December 31, 2025, compared to a net loss of $24.1 million in the prior year. The loss from operations was $26.3 million, primarily driven by research and development expenses of $14.5 million and general and administrative expenses of $11.8 million. Other income, net contributed $0.3 million. The net loss attributable to common stockholders was $27.5 million, which includes a $1.6 million dividend attributable to the down round feature of warrants. Basic and diluted net loss per share were both -$87, based on 316,000 basic and diluted shares used in calculation. The company ended the year with cash and cash equivalents of $21.6 million, an increase of $12.9 million from the prior year-end, supported by $38.5 million in net cash provided by financing activities.
No revenue figures were disclosed for the fiscal year 2025. The company is a clinical-stage biotechnology company with no products approved for commercial distribution. Its financial results are driven by research and development activities and general administrative expenses, with no segment or geographic revenue breakdown provided in the filing.
The company reported a loss from operations of $26.3 million for FY 2025. Research and development expenses were $14.5 million, with $7.1 million allocated to clinical programs (mipletamig: $6.6 million, ALG.APV-527: $0.5 million) and $7.5 million to preclinical programs and general research. General and administrative expenses were $11.8 million, up from $10.2 million in the prior year, primarily due to higher employee, consulting, and legal costs. The company's accumulated deficit reached $275.1 million as of December 31, 2025.
Net cash used in operating activities was $25.6 million for FY 2025, primarily due to the net operating loss and changes in working capital. Net cash provided by financing activities was $38.5 million, mainly from $37.9 million in net proceeds from the issuance of common stock and $0.6 million from the exercise of common warrants. Cash and cash equivalents were $21.6 million as of December 31, 2025. Total assets were $27.2 million, with total current assets of $23.1 million. Total liabilities were $9.8 million, and total stockholders' equity was $17.4 million. The company has access to additional funding through Standby Equity Purchase Agreements with Yorkville, with $67.5 million aggregate capacity remaining as of the filing date.
The company's future success depends on developing its product candidates, including mipletamig and ALG.APV-527, and raising additional capital. Management has concluded that substantial doubt exists about the company's ability to continue as a going concern for the one-year period from the financial statement issuance date. Key risk factors include a history of losses, potential delisting from Nasdaq if listing requirements are not met, reliance on additional funding, dependence on key personnel, clinical trial delays, competition, and macroeconomic conditions. The company may receive up to $5.8 million in milestone payments from Medexus related to IXINITY sales. Future capital requirements will depend on clinical development costs, partnership opportunities, and the ability to secure financing on acceptable terms.