Why Did Aptevo Therapeutics Stock Jump 25% Today?

Aptevo Therapeutics Inc APVO shares are trading higher Thursday after the company reported 2021 financial results. 

Aptevo said royalty revenue totaled $12.3 million in 2021, up from royalties of $4.3 million in 2020. The company reported a net loss of $28.5 million or $6.07 per share, which was worse than the net loss of $17.8 million or $5.23 per share during the prior year.

Aptevo said it had cash and cash equivalents of $46.3 million at the end of 2021.

Aptevo is a clinical-stage biotechnology company focused on developing novel immuno-oncology therapeutics for the treatment of different forms of cancer.

See Also: Why Ampio Pharmaceuticals Stock Is Rising Today

APVO 52-Week Range: $4.40 - $32.57

The stock was up 25.2% at $6.56 at publication time.

Photo: Belova59 from Pixabay.