APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On October 3, 2019, Aptevo Therapeutics Inc. (Aptevo) issued a press release providing estimated net product sales of IXINITY for the third quarter of 2019. A copy of Aptevos press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this report, including the exhibit hereto, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission (the SEC) made by Aptevo, whether made before, on or after the date hereof, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 3, 2019, Aptevo announced a temporary reduction in the base salary of each of its executive officers by 20%, effective November 1, 2019.
Item 8.01 Other Events.
On October 3, 2019, Aptevo announced its decision to discontinue further development of APVO210, a novel investigational bispecific antibody candidate under development for the treatment of autoimmune diseases. The decision followed the review of data from the Phase 1 multiple ascending dose (MAD) clinical study of APVO210 in healthy volunteers that suggests that APVO210 would not meet the desired target product profile for future commercialization. Specifically, the clinical data showed evidence of increasing titers of anti-drug antibodies (ADA) with repeated doses of APVO210, which had varying impact on APVO210 drug levels in subjects blood.
Item 9.01. Financial Statements and Exhibits.
| 99.1 | Press Release dated October 3, 2019. |