APVO Stock Price Increases By 78.25%: Why It Happened

By Amit Chowdhry ● November 4, 2020
  • The stock price of Aptevo Therapeutics Inc (NASDAQ: APVO) increased by 78.25% as it went from $6.30 at the close on Monday to $11.23 at the close on Tuesday. This is why it happened.

The stock price of Aptevo Therapeutics Inc (NASDAQ: APVO) increased by 78.25% as it went from $6.30 at the close on Monday to $11.23 at the close on Tuesday. This is why it happened:

On Tuesday at 9:00 AM, the clinical-stage biotech company issued a press release providing an update on its ongoing APVO436 Phase 1 clinical trial.

APVO436 is known as a novel anti-CD123 x anti-CD3 targeted investigational bispecific antibody therapy that is being evaluated for the treatment of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) in a Phase 1/1b open-label, dose-escalation study evaluating the safety and pharmacokinetic profile. And Aptevo announced that based on preliminary data, a patient in cohort 6 of the clinical trial has shown complete remission.

The patient bone marrow blasts decreased from 29% at screen to 6% after the first cycle of treatment and to 0% after the second cycle of treatment. And the patient’s platelet count and absolute neutrophil count (ANC) met complete remission criteria (CR).

“We are greatly encouraged by the complete remission in the patient in cohort 6, which is a wonderful outcome for them,” said Marvin White, President and CEO of Aptevo Therapeutics. “We are now in a critical phase of the study, as pharmacokinetic modelling suggests that dosing in cohorts 5 through 8 is in a therapeutic range, which could result in potential clinical activity of the drug. We look forward to continuing the dose escalation and monitoring potential clinical responses as we advance through the upcoming dose cohorts.”

APVO436 was built with Aptevo’s next generation proprietary ADAPTIR protein therapeutic platform. By focusing on generating novel, targeted bispecific antibody-based immunotherapies for cancer, the ADAPTIR platform has several key advantages over other bispecific formats, derived in part from the flexible and modular nature of the ADAPTIR structure.

And Aptevo believes that its differentiated ADAPTIR bispecific technology platform has the potential to offer a more convenient and cost-effective solution compared to other immunotherapies like CAR-T therapies. Even though CAR-T therapies have proven effective in generating robust and durable treatment responses, they remain challenging and expensive for manufacturing and administering to patients.

In comparison, bispecific technologies may represent a simpler and more competitive ‘off-the-shelf’ solution in the rapidly advancing field of cancer immunotherapy.