Investment Thesis
Aptevo Therapeutics is in severe financial distress with collapsing revenue (-74.7% YoY), massive operating losses (-$20.3M on only $3.1M revenue), and negative free cash flow of -$20.4M. Despite adequate liquidity, the company is burning cash at an unsustainable rate with no clear path to profitability, characteristic of a pre-revenue or failed-asset biotech with fundamental business viability concerns.
APVO Strengths
- Strong current ratio of 4.03x provides near-term liquidity runway
- Zero long-term debt eliminates bankruptcy risk from leverage
- Maintains $21.1M cash balance for operational continuity in short-term
APVO Risks
- Revenue collapse of 74.7% YoY indicates loss of commercial traction or product failure
- Operating burn rate of $20.3M annually with only $3.1M revenue is unsustainable
- Negative free cash flow of -$20.4M will deplete $21.1M cash within ~12 months at current burn rate
- Severely negative margins (operating -652%, net -647%) indicate no viable business model
- Pharmaceutical sector with failed commercial execution faces high risk of total equity loss
Key Metrics to Watch
- Quarterly revenue trend - any stabilization or further deterioration
- Cash burn rate and runway months - critical given current trajectory
- Operating expense reduction initiatives - cost control measures
- Quarterly operating cash flow - whether negative trends persist
- Any new partnership, licensing, or asset sale announcements
APVO Financial Metrics
APVO Profitability Ratios
APVO Balance Sheet & Liquidity
APVO 5-Year Financial Trend
5-Year Trend Summary: Aptevo Therapeutics Inc.'s revenue has declined by 90% over the 5-year period, indicating business contraction. The most recent EPS of $-2,316.83 indicates the company is currently unprofitable.
APVO Growth Metrics (YoY)
APVO Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2023 | $3.1M | $2.8M | $-0.50 |
| Q2 2023 | $3.1M | $2.8M | $-0.72 |
| Q1 2023 | $3.1M | $2.8M | $0.26 |
| Q3 2022 | $3.1M | -$7.0M | $-1.43 |
| Q2 2022 | $3.1M | -$7.3M | $-1.75 |
| Q1 2022 | $2.4M | -$7.3M | N/A |
| Q3 2021 | $1.5M | $2.9M | N/A |
| Q2 2021 | $473.0K | $2.9M | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
APVO Capital Allocation
APVO SEC Filings
Access official SEC EDGAR filings for Aptevo Therapeutics Inc. (CIK: 0001671584)