Aptevo Therapeutics Inc. (NASDAQ:APVO) climbed 10.4% in premarket trading on Friday after the company announced it has put in place a $60 million equity line of credit with Yorkville Advisors Global, LP.
Aptevo said the agreement gives it flexible access to capital, allowing the company to raise funds in stages and at times of its choosing, based on prevailing market conditions. When combined with existing cash resources, the facility is expected to extend Aptevo’s funding runway through 2029, supporting progress across key clinical and preclinical programs.
“This agreement offers added flexibility and control over how and when we access capital,” said Daphne Taylor, Chief Financial Officer at Aptevo. “Importantly, the fully leveraged facility plus cash on hand is sufficient to fund us for three years, into 2029. During this time, we plan to continue generating clinical data and advancing differentiated assets across the portfolio focusing on execution and value creation.”
The company said proceeds from the equity line will be used to support ongoing clinical trials, advance preclinical development and cover general corporate needs. Under the terms of the arrangement, Aptevo can elect—but is not required—to sell shares to Yorkville from time to time.
Aptevo’s pipeline includes five CD3-engaging therapeutic candidates, led by mipletamig, a CD123 x CD3 bispecific antibody currently being evaluated in a Phase 1b/2 study as a frontline treatment for acute myeloid leukemia. The company said mipletamig has been tested in more than 100 patients across three clinical trials, delivering high remission rates alongside a favourable safety profile.