Aptevo Therapeutics Inc. (NASDAQ: APVO) completed a 1‑for‑18 reverse stock split of its common shares on December 29, 2025, at 5:01 p.m. ET. The split consolidates the company’s outstanding shares from roughly 18 million to about 1 million, preserving the overall market capitalization while raising the per‑share price to satisfy Nasdaq’s minimum bid‑price and equity thresholds.
The board approved the split ratio on December 17, 2025, and shareholders gave their consent on July 24, 2025. This is the fifth reverse split in the company’s history, following 1‑for‑44 (March 6, 2024), 1‑for‑37 (December 4, 2024), 1‑for‑20 (May 27, 2025) and 1‑for‑14 (March 27, 2020). The action is part of Aptevo’s ongoing effort to maintain Nasdaq listing status after repeated notifications of non‑compliance with the exchange’s minimum bid‑price and equity requirements.
Aptevo remains a clinical‑stage biotechnology company focused on immune‑oncology therapeutics. The company has been raising capital through equity offerings to extend its cash runway and has reported net losses in 2025, with no revenue expected through 2026. The repeated need for reverse splits signals persistent financial pressure and a low share price that investors view as a risk factor. The company’s pipeline—comprising Mipletamig for acute myeloid leukemia, APVO451, and the trispecific antibody ALG.APV‑527—remains its primary growth engine, but the lack of current revenue and ongoing capital needs temper optimism.
CEO Marvin White emphasized that the company is “energized by the expansion of our differentiated CD3 bispecific portfolio” and highlighted progress in clinical development as a key strategic priority. White’s remarks underscore the company’s focus on advancing its pipeline while navigating the financial challenges that necessitate actions such as the reverse split.
Investors reacted negatively to the announcement, citing concerns about Aptevo’s repeated need for reverse splits and its ongoing unprofitability. The market’s response reflects apprehension about the company’s ability to sustain a share price above Nasdaq’s minimum threshold and its capacity to generate revenue in the near term.
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