Why Is Immuno-Oncology Focused Aptevo Therapeutics Stock Trading Higher On Thursday?
Portfolio Pulse from Vandana Singh
Aptevo Therapeutics Inc (NASDAQ:APVO) and Alligator Bioscience AB released interim Phase 1 trial data for ALG.APV-527, showing positive signs in treating solid tumors. The trial, over 50% enrolled, demonstrated the treatment's tolerability, ongoing dose escalation, and biological activity without serious side effects. APVO's stock rose 18.8% to $7.60.
March 07, 2024 | 6:45 pm
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POSITIVE IMPACT
Aptevo Therapeutics Inc's stock rose 18.8% to $7.60 after positive interim data from a Phase 1 trial of ALG.APV-527 for solid tumors.
The positive interim data from the Phase 1 trial of ALG.APV-527, showing tolerability and biological activity without serious side effects, likely contributed to investor optimism, driving up APVO's stock price. The absence of increased cytokine release, a potential side effect, further supports the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100