Aptevo Therapeutics Shares Drop 25% Despite Positive AML Trial Data

(RTTNews) - Aptevo Therapeutics Inc. (APVO) shares fell 24.53 percent to $5.10, down $1.64 on Tuesday, even after the company released encouraging interim clinical data for its AML therapy candidate mipletamig.

The stock is currently trading at $5.10 compared with its previous close of $6.735. Shares opened at $5.54 and traded between $4.94 and $5.90 during the session on the Nasdaq. Trading volume reached about 803,492 shares, significantly above the average volume of about 177,861 shares.

Aptevo reported interim results showing mipletamig combined with venetoclax and azacitidine achieved an 86 percent clinical benefit rate in newly diagnosed acute myeloid leukemia patients who are elderly or unfit for intensive chemotherapy. The study also showed 79 percent of patients achieved complete remission or complete remission with incomplete recovery, with no cases of cytokine release syndrome reported.

The stock has traded in a 52-week range of $4.94 to $1,299.60.