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Aptevo Therapeutics Inc. (NASDAQ:APVO) jumped 46.10% to $2.06 during after-hours trading on Wednesday following breakthrough clinical results demonstrating its drug’s potential to redefine frontline AML treatment.
Check out the current price of APVO stock here.
The biotech company from Seattle reported that all patients in Cohort 3 of its Phase 1b/2 RAINIER trial went into complete remission. The trial is testing a treatment called mipletamig, combined with venetoclax and azacitidine, for newly diagnosed AML patients who can't handle strong chemotherapy.
No dose-limiting toxicities or cytokine release syndrome occurred across all RAINIER cohorts.
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“Cohort 3 demonstrates the kind of progress that changes expectations for frontline AML therapy,” said CEO Marvin White.
The frontline AML market is a multi-billion-dollar opportunity, with current standard treatments achieving lower remission rates than those seen in the RAINIER trial. Additionally, 40% of patients in the trial reached minimal residual disease-negative status, which is a key sign of a better prognosis.
Enrollment for Cohort 4 is ongoing at higher dose levels, with a conference presentation expected in fourth quarter.
APVO dropped by approximately 31.9% from its one-month peak of $2.07 to yesterday’s close of $1.41. Over the past year, it has lost 98.84%, and so far in 2025, it's down 98.36%.
The clinical-stage annual range is between $1.32 and $381.10. It has a market capitalization of $4.64 million and an average trading volume of 3.98 million shares.
Benzinga's Edge Stock Rankings show that APVO stock is trending negatively across all time periods. Discover insights into other biotech companies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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