Aptevo Therapeutics Inc. — Form 10-Q

Aptevo Research and Development LLC (Aptevo's subsidiary) entered into a 50/50 cost-sharing collaboration with Niowave, Inc. dated May 25, 2026, to develop oncology radiopharmaceutical products combining Aptevo's proprietary molecules with Niowave's Actinium-225 radioisotopes. Concurrently, Niowave purchased 98,522 shares of Aptevo common stock at an initial price (price redacted [***]), with rights to purchase up to 150,574 additional shares during a 3-year exercise period, capped at 19.99% beneficial ownership and $8.00 warrants. Development costs split equally; revenue from third-party licensees allocated 50/50 (or per cost-share ratio if unequal). Terminating party receives 2–8% royalty on net sales depending on development stage at exit.