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Why Aptevo Therapeutics [NASDAQ: APVO] Skyrocketing Today?

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Aptevo Therapeutics Inc. [NASDAQ: APVO] kicked off the Monday session with a strong performance as its shares soared 89.87%. The strong performance of the company showed the positive sentiments of investors after it has shared an update on its ongoing APVO436 clinical trial.

A biotechnology company has reported that it has observed second complete remission in a Patient in cohort 6. Earlier, on November 6 the company has received the data regarding cohort 6. It has witnessed complete remission in the second patient.

Additionally, there are two patients who have showed the postive signs in cohort 6 of the clinical trial.

Shares of Aptevo Therapeutics Inc. [NASDAQ: APVO] went up 89.87% at $45.00 at the time of writing on Monday. It had recorded a trading volume of 3.01 million as compared to the average volume of 1.43 million.

Looking at its profitability, it has a return on assets (ROA) of -48.20% and returns on equity (ROE) of -137.20%. Focusing on its liquidity, it has a current ratio of 1.50. Furthermore, APVO has total market capitalization of $68.49 million at the time of writing.

A total of nine patients are enrolled in cohort 6 of the clinical trial. One patient has shown the stable disease status and 6 patients have experienced the progress in disease.

Furthermore, President and CEO of Aptevo Therapeutics, Marvin White, said that this is the greatest achievement of the company as two patients have shown the complete disappearacne of the disease. CEO revealed that the company has now started the enrollment for chort 8.

APVO436 is the bispecific antibody therapy that is manufactured on the next-generation proprietary ADAPTIR™ protein therapeutic platform of the Aptevo.

Additionally, this is an investigational therapy that is currently being assessed for the treatment of acute myeloid leukemia (AML).

Biotechnology company has also disclosed that it is scheduled to share two new new posters at the Society for Immunotherapy of Cancer’s (SITC) 35th Virtual Annual Meeting. The meeting to be held on November 9, 2020 to Saturday, November 14, 2020.

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