APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

ME Staff 8-k
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APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01.

On October 11, 2019, Aptevo Therapeutics Inc. (the “Company”) submitted to the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) an application to transfer the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market. On October 16, 2019, the Company received notice from Nasdaq that its application to transfer listing of its common stock had been approved. The transfer will be effective at the opening of business on October 18, 2019. The Company will continue to trade under the symbol “APVO.”

The Nasdaq Capital Market is a continuous trading market that operates in the same manner as The Nasdaq Global Market. All companies listed on The Nasdaq Capital Market must meet certain financial requirements and adhere to Nasdaq’s corporate governance standards. The Company believes it is in compliance with all applicable criteria for continued listing on The Nasdaq Capital Market, but for the $1.00 bid price requirement, as previously announced on a Current Report on Form 8-K filed by the Company on April 23, 2019. The Company is eligible for an additional 180-day period (through April 13, 2020) to regain compliance with the minimum bid price, which requires that the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days. In the event that the Company is not able to regain compliance during the additional 180-day compliance period, the Company intends to effect a reverse stock split, if necessary. If the Company cannot demonstrate compliance by April 13, 2020 or the Company does not comply with the terms of the extension, Nasdaq will issue a delisting letter. In the event the Company receives notice that its common stock is being delisted, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a Hearing Panel.


About APTEVO THERAPEUTICS INC. (NASDAQ:APVO)

Aptevo Therapeutics Inc. is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform. The Company has approximately four products in the areas of hematology and infectious diseases, as well as various investigational-stage product candidates in immuno-oncology. The Company’s investigational-stage product candidates include MOR209/ES414, ES210, ES425, Otlertuzumab and 5E3. Its technology can produce monospecific and multispecific immunotherapeutic proteins that bind to various targets. The Company’s marketed products are WinRho SDF (Rho(D) Immune Globulin Intravenous (Human)), HepaGam B (Hepatitis B Immune Globulin Intravenous (Human)), VARIZIG (Varicella Zoster Immune Globulin (Human)), and IXINITY (coagulation factor IX (recombinant)).