Aptevo Therapeutics Inc. reported its financial results for the quarter ending September 30, 2024, alongside a comprehensive business update. The company initiated the mipletamig Phase 1b/2 dose optimization trial, known as 'RAINIER,' for frontline Acute Myeloid Leukemia (AML) patients. This trial was informed by positive safety, tolerability, efficacy, and durability data from its completed dose escalation trial.
During the third quarter, Aptevo also presented interim data from its ALG.APV-527 Phase 1 trial in multiple solid tumors at the European Society for Medical Oncology Congress. This presentation highlighted the ongoing progress and potential of another key pipeline candidate. The company indicated that additional favorable data for ALG.APV-527 would be presented at the Society for Immunotherapy of Cancer Conference on November 8th.
To support its ongoing research and development efforts, Aptevo successfully raised $5.75 million during the quarter. This capital infusion is crucial for a clinical-stage biotechnology company that relies on external funding to advance its product candidates through various development phases.
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