SEATTLE, WA and LUND, SWEDEN - Aptevo Therapeutics (NASDAQ:APVO) and Alligator Bioscience AB (ATORX) announced today that their collaborative Phase 1 clinical trial for ALG.APV-527 has shown positive interim results. The data will be presented at the European Society for Medical Oncology (ESMO) Annual Congress 2024 on Saturday in Barcelona, Spain.
The trial is a dose-escalation study aimed at evaluating the safety and preliminary anti-tumor activity of ALG.APV-527, a bispecific antibody targeting the 5T4 tumor antigen and the 4-1BB co-stimulatory receptor on T cells. The interim data suggest that the treatment has a favorable safety profile and signals of biological activity in patients with advanced solid tumors.
ALG.APV-527 is designed to be conditionally active, only stimulating immune cells when bound to both 4-1BB and 5T4, which is overexpressed in various solid tumors. This approach aims to enhance tumor-specific immune responses while minimizing systemic immune activation.
The Phase 1 trial follows a 3+3 design and is conducted across multiple U.S. sites, enrolling adults with solid tumors likely to express 5T4. Patients receive the treatment intravenously every two weeks, with the study assessing various aspects including safety, tolerability, pharmacokinetics, and pharmacodynamics.
The companies have expressed optimism based on preclinical studies published in Molecular Cancer Therapeutics, indicating that the molecule could lead to potent activity in tumor control.
Aptevo Therapeutics specializes in novel bispecific immunotherapies for cancer treatment, while Alligator Bioscience focuses on tumor-directed immuno-oncology antibody drugs. The collaboration on ALG.APV-527 is part of a broader portfolio that includes other promising drug candidates.
The press release also includes forward-looking statements regarding the potential efficacy and therapeutic use of ALG.APV-527, cautioning that results may differ due to various factors, including unforeseen adverse events and changes in regulatory conditions.
The information in this article is based on a press release statement from Aptevo Therapeutics and Alligator Bioscience.
InvestingPro Insights
Amidst the promising clinical trial results for ALG.APV-527, Aptevo Therapeutics (NASDAQ:APVO) has caught the attention of investors and industry observers. A critical InvestingPro Tip highlights the company's strong liquidity position, noting that APVO holds more cash than debt on its balance sheet. This financial stability could be a significant advantage as the company continues developing its immunotherapies.
Investors tracking Aptevo Therapeutics will find it relevant that the stock has experienced a significant return over the last week, with a 9.25% price total return. This short-term performance could reflect market optimism following the interim results from the clinical trial. However, potential investors should be aware of the company's historical performance, as the stock price has seen a considerable decline over the last year, with a 97.88% drop in the one-year price total return.
From a financial perspective, InvestingPro Data shows that Aptevo Therapeutics has a market capitalization of just $3.4 million, which is relatively small, suggesting a higher risk profile that is common among early-stage biotech companies. Additionally, the company's Price / Book ratio as of the last twelve months stands at 0.76, indicating that the stock may be undervalued relative to the company's book value.
For those considering an investment in Aptevo Therapeutics, there are additional InvestingPro Tips available that provide deeper insights, including analyses of the company's profitability and stock price volatility. In total, there are 13 more tips listed on InvestingPro, which could be instrumental in making a well-informed investment decision.
To explore these insights further, interested parties can visit InvestingPro's dedicated page for Aptevo Therapeutics at https://www.investing.com/pro/APVO.
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