What are the investment strengths of Aptevo Therapeutics Inc (APVO)?

Trading at 0.24x book value with negative EV - any positive clinical data or partnership creates asymmetric upside from 4.2M market cap base Clean balance sheet with 0.23 debt/equity and 17M working capital provides flexibility for strategic options without creditor pressure

What are the investment risks for Aptevo Therapeutics Inc (APVO)?

Zero revenue with -152% ROE TTM and 26.5M annual net loss - fundamentally uninvestable without clinical catalyst that may never materialize Chronic dilution risk: 18.3M raised vs 4.2M market cap means existing shareholders face 4x+ dilution to fund operations through any milestone

Aptevo Therapeutics Inc

APVO

—

Aptevo Therapeutics Inc AI Insights

Informational only. Not investment advice.

As of 2025-12-17

Snapshot

Zero revenue TTM with 26.7M operating loss - pure clinical-stage biotech burning 14.9M on R&D annually[Total Revenue TTM]
Negative EV (-12.9M) as 21.1M cash exceeds 4.2M market cap - market pricing in near-certain failure[Enterprise Value]
Cash runway ~9 months at -6.7M operating burn rate; 18.3M equity raise in period bought time[Cash Flow from Continuing Operating Activities]

Watch Triggers

Cash and Equivalents: Falls below 10M — Triggers forced financing at distressed terms or strategic sale
Total Revenue TTM: Any revenue recognition >0 — Would signal partnership deal or milestone payment - thesis-changing
Shares Outstanding: Increases >50% from 4.0M — Massive dilution would confirm capital desperation

Bull Case

Trading at 0.24x book value with negative EV - any positive clinical data or partnership creates asymmetric upside from 4.2M market cap base

P/B RatioEnterprise ValueMarket Cap TTM

Clean balance sheet with 0.23 debt/equity and 17M working capital provides flexibility for strategic options without creditor pressure

Debt to EquityWorking CapitalTotal Debt

Bear Case

Zero revenue with -152% ROE TTM and 26.5M annual net loss - fundamentally uninvestable without clinical catalyst that may never materialize

Total Revenue TTMROE TTMNet Income TTM

Chronic dilution risk: 18.3M raised vs 4.2M market cap means existing shareholders face 4x+ dilution to fund operations through any milestone

Net Common Stock IssuanceMarket Cap TTMShares Outstanding

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

25%

Leverage APVO's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.

Take Me to The Editor

Forward Thesis

Cash runway exhaustion by Q3 2026 will force dilutive financing or strategic transaction

3-12mhigh

21.1M cash vs 6.7M quarterly burn rate
Zero revenue pipeline with no near-term commercialization
Recent 18.3M raise signals ongoing capital dependency

Cash and Equivalents: 21.1MOperating Cash Flow TTM: -6.7MNet Common Stock Issuance: 18.3M

Valuation Context

Caveats

Public Strategies Rankings

See how Aptevo Therapeutics Inc ranks across different investment strategies.

Leverage APVO's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.

APVO Fundamentals

Manufacturing → Chemical Manufacturing

Metric	Value	YoY Growth	Industry Percentile
Market Cap	$1.7M		—
Enterprise Value	$-15.37M		—
P/E Ratio	0.00		—
Total Revenue - TTM	$0		—
Earnings Per Share (diluted) - TTM	$7,758.20		—
Operating Margin - TTM	0%	0.0%	—
Net Margin - TTM	0%	0.0%	—
Free Cash Flow - TTM	$-26.11M		—
Return on Common Equity - TTM	-2.4	+5.2%	—
Beta 5Y (Monthly)	unknown		—

APVO Dividend History

No dividends

APVO Stock Splits

5 stock splits

12/30/2518:1 split

05/27/2520:1 split

12/04/2437:1 split

03/06/2444:1 split

03/27/2014:1 split

APVO SEC Filings

Filing Date	Report Date	Report Type	Filing Link
11/06/25	09/30/25	10-Q	0001193125-25-269598
08/11/25	06/30/25	10-Q	0000950170-25-106247
05/15/25	03/31/25	10-Q	0000950170-25-072622
02/14/25	12/31/24	10-K	0000950170-25-020467
11/07/24	09/30/24	10-Q	0000950170-24-122837
08/08/24	06/30/24	10-Q	0000950170-24-093366
05/08/24	03/31/24	10-Q	0000950170-24-055096
03/05/24	12/31/23	10-K	0000950170-24-025428
11/14/23	09/30/23	10-Q	0000950170-23-063379
08/10/23	06/30/23	10-Q	0000950170-23-040983
05/11/23	03/31/23	10-Q	0000950170-23-020870
03/30/23	12/31/22	10-K	0000950170-23-010757
11/10/22	09/30/22	10-Q	0001564590-22-037287
08/11/22	06/30/22	10-Q	0001564590-22-029025
05/12/22	03/31/22	10-Q	0001564590-22-019685
03/24/22	12/31/21	10-K	0001564590-22-011575
11/12/21	09/30/21	10-Q	0001564590-21-056494
08/12/21	06/30/21	10-Q	0001564590-21-043955
05/11/21	03/31/21	10-Q	0001564590-21-026319
03/31/21	12/31/20	10-K	0001564590-21-016875
11/10/20	09/30/20	10-Q	0001564590-20-053058
08/14/20	06/30/20	10-Q	0001564590-20-040295
05/13/20	03/31/20	10-Q	0001564590-20-025066
03/25/20	12/31/19	10-K	0001564590-20-012791
11/07/19	09/30/19	10-Q	0001564590-19-041524
08/09/19	06/30/19	10-Q	0001564590-19-031118
05/09/19	03/31/19	10-Q	0001564590-19-017616
03/18/19	12/31/18	10-K	0001564590-19-008184
11/14/18	09/30/18	10-Q	0001564590-18-029562
08/09/18	06/30/18	10-Q	0001564590-18-020781
05/10/18	03/31/18	10-Q	0001564590-18-012733
03/13/18	12/31/17	10-K	0001564590-18-005384
11/13/17	09/30/17	10-Q	0001564590-17-023382
08/10/17	06/30/17	10-Q	0001564590-17-017132
05/12/17	03/31/17	10-Q	0001564590-17-010737
03/31/17	12/31/16	10-K	0001564590-17-005738
11/14/16	09/30/16	10-Q	0001564590-16-029292
08/25/16	06/30/16	10-Q	0001564590-16-024734
07/13/16	03/31/16	IPO-Q	0001193125-16-647395
07/13/16	12/31/15	IPO-Q	0001193125-16-647395
11/14/16	09/30/15	10-Q	0001564590-16-029292
08/25/16	06/30/15	10-Q	0001564590-16-024734
07/13/16	03/31/15	IPO-Q	0001193125-16-647395