Aptevo Therapeutics Grosses USD 10 Million non-Dilutive Milestone Payment on Sales of RUXIENCE

Feb 9, 2022 By MarketDepth

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Aptevo Therapeutics Inc. (NASDAQ: APVO) reported that the company has earned a USD 10 Million non-dilutive milestone payment related to 2021 sales of RUXIENCE.  The company is optimistic about the potential of earning additional non-dilutive milestones that total USD 22.5 Million over the next two years.  The company has reported that its Phase 1b trial that is evaluating lead drug candidate APVO436 to treat acute myeloid leukemia continues to enroll new clinical trial sites as the first complete remission patient that was initially announced in 2021 is proceeding to transplant.  Due to related sales of RUXIENCE under terms of its royalty purchase agreement with HealthCare Royalty Management, LLC the company has earned a USD 10 Million milestone payment.  “We are very pleased to announce meaningful progress in our clinical work and to reinforce the strength of our financial position, especially during such a challenging time in the market. From our inception, Aptevo has remained committed to a focused business strategy designed to deliver results that will ultimately benefit patients,” said Marvin White, CEO. “On the clinical side, we are pleased to expand the number of trial sites as this increases the pool of patients potentially eligible to participate in the study. Further, we are happy to report that the patient we reported on in November, who achieved complete remission in the expansion trial, remains in remission and is proceeding to transplant. We wish them well.”

“Adding to Marvin’s comments about a previously reported complete remission patient, it’s encouraging that they are proceeding to transplant after receiving a combination of chemotherapy plus APVO436. Complete remission and transplant in patients who have failed prior frontline therapy such as this one, are indicators that the patient is making positive clinical progress in fighting this difficult-to-treat disease.”

Dirk Huebner, MD, Senior Medical Advisor