Aptevo Therapeutics Inc. announced the closing of its previously announced registered direct offering, which generated $2.0 million in gross proceeds. The offering involved the sale of 2,324,000 shares of the company's common stock.
The shares were sold at a purchase price of $0.862 per share, priced at-the-market under Nasdaq rules. Roth Capital Partners acted as the exclusive placement agent for this offering, facilitating the transaction.
This capital raise provides Aptevo with additional financial resources, which are vital for a clinical-stage biotechnology company. The funds will support the ongoing development of its novel immune-oncology therapeutics and help maintain its operational runway.
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