Why Aptevo Therapeutics Stock Is Getting Obliterated

Aptevo Therapeutics Inc APVO shares are trading lower by after the company priced its $5 million public offering of 8,064,517 shares at 62 cents per share.

The 8,064,517 shares of common stock at $0.62 per share will be sold alongside Series A and Series B Warrants for the same number of shares.

The offering is expected to close on or around August 4, with anticipated gross proceeds of approximately $5 million, to be used for working capital purposes.

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According to data from Benzinga Pro, APVO has a 52-week high of $7.20 and a 52-week low of $0.58.