APVO Faces Second Major Reverse Stock Split: What's Behind Aptevo Therapeutics' Aggressive Corporate Action?

Aptevo Therapeutics Inc. (APVO), a clinical-stage biotech firm, is executing its second reverse stock split this year, marking a significant restructuring of its capital structure. The company will consolidate its shares on a 1-for-18 basis, with the split taking effect on December 29, 2025, at 5:01 p.m. Eastern Time, ahead of resumed trading on Nasdaq Capital Market at market open the following day.

The Numbers Behind the Split

The reverse stock split will dramatically reduce APVO’s share count from approximately 18 million outstanding shares to roughly 1 million shares. Each existing holder will see their stake consolidated automatically—18 shares transforming into a single share of Common Stock. The par value remains fixed at $0.001 per share, keeping the fundamental share structure intact despite the consolidation.

This marks the second consolidation within a calendar year for the biotechnology company. A prior 1-for-20 reverse stock split was executed on May 27, 2025, indicating management’s repeated efforts to stabilize the company’s market position and meet exchange listing requirements.

Market Context and Trading Performance

The timing of this corporate action comes as APVO stock has experienced substantial volatility throughout the year. Trading ranges have spanned from $0.50 to $109.80, reflecting the extreme swings characteristic of clinical-stage biotech investments. On Friday, the shares closed 34.73% lower at $0.60, underscoring the challenging environment facing the company as it implements this second structural adjustment.

The consecutive reverse splits within months suggest Aptevo’s management is navigating significant market pressures while maintaining its position on the Nasdaq Capital Market, a key milestone for maintaining public company status in the competitive biotech sector.