11:35 AM EDT, 06/18/2025 (MT Newswires) -- Aptevo Therapeutics ( APVO ) said Wednesday it has entered into agreements with certain investors for a registered direct offering with expected gross proceeds of approximately $8 million.

The agreements are for around 2.5 million shares of its common stock or pre-funded warrants as an alternative, as well as warrants to purchase up to about 12.3 million shares at $3.25 per share and associated common warrants, the company said.

The common warrants will have an exercise price of $3.25 per share, are exercisable upon stockholder approval, and will expire five years following the date of stockholder approval, Aptevo said.

The offering is expected to close on or about June 20. Aptevo said it intends to use the net proceeds from the offering for the continued clinical development of its product candidates, working capital, and other general corporate purposes.

In a separate, earlier release Wednesday, Aptevo Therapeutics ( APVO ) said that its mipletamig combination therapy achieved an 85% remission rate in frontline acute myeloid leukemia patients.

Shares were up 125% in recent trading.

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