Biotech Seeing Significant Buying Pressure Before The Opening Bell

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, July 17, 2024

A Washington-based biotech company is already stealing the spotlight so far during Wednesday’s premarket after it was announced that the company closed a roughly $2.75 million offering of common stocks and warrants.

While these types of events are sometimes viewed as dilutive, traders appear to be excited about the news as they’re currently bid for shares of Aptevo Therapeutics Inc. (Nasdaq:APVO) at $0.425/share (+26.87% implied open for sellers) at the time of writing. It should be an exciting session for this micro cap!

Aptevo Therapeutics Inc is a clinical-stage, research and development biotechnology company focused on developing novel immunotherapeutic candidates for the treatment of different forms of cancer. Its clinical candidate, APVO436, and preclinical candidates, ALG.APV-527 and APVO603, were developed using ADAPTIR modular protein technology platform. The versatile and robust ADAPTIR and ADAPTIR-FLEX platforms are designed to generate monospecific, bispecific, and multi-specific antibody candidates that are capable of enhancing the human immune system against cancer cells.

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