12:32 PM EDT, 06/20/2025 (MT Newswires) -- Aptevo Therapeutics ( APVO ) said Friday it closed an $8 million direct offering of common stock and warrants.

The company said it sold about 2.47 million shares, or pre-funded warrants in lieu of shares, along with 12.33 million common stock warrants, at $3.25 per share.

Each share was sold with five warrants, which are exercisable at the same price following shareholder approval and will expire five years after that approval.

Net proceeds will support the clinical development of its drug candidates, as well as working capital and other general corporate purposes, according to the company.

Shares of Aptevo Therapeutics ( APVO ) were down more than 23% in recent trading.

Price: 3.93, Change: -1.20, Percent Change: -23.39