Aptevo Therapeutics Inc 2025年度报告

None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YESնNOշ Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YESնNOշ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. YESշNOն Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).YESշNOն Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oremerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company”in Rule 12b-2 of the Exchange Act: Accelerated filerնSmaller reporting companyշEmerging growth companyն Large accelerated filerնNon-accelerated filerշ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.ն Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.ն If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.ն Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation receivedby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).ն Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YESնNOշ The aggregate market value of common stock held by non-affiliates of the Registrant as of June 30 , 2025, the last business day of the Registrant’s mostrecently completed second fiscal quarter, was $9.8 million, based upon the closing price of the Registrant’s common stock on the Nasdaq Stock Market LLCon June 30, 2025, the last trading day of the fiscal quarter. Excludes an aggregate of 0 shares of the Registrant’s common stock held as of such date by officers, directors, and stockholders that the registrant hasconcluded are or were affiliates of the Registrant. Exclusion of such shares should not be construed to indicate that the holder of any such shares possessesthe power, direct or indirect, to direct or cause the direction of the management or policies of the Registrant or that such person is controlled by or undercommon control with the Registrant. As of March 26, 2026, the number of shares of Registrant’s common stock outstanding was 1,181,725. Table of Contents PART I Item 1.Business1Item 1A.Risk Factors25Item 1B.Unresolved Staff Comments63Item 1C.Cybersecurity63Item 2.Properties64Item 3.Legal Proceedings64Item 4.Mine Safety Disclosures64 Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities65Item 6.Not applicable65Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations66Item 7A.Quantitative and Qualitative Disclosures About Market Risk73Item 8.Financial Statements and Supplementary Data74Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure99Item 9A.Controls and Procedures99Item 9B.Other Information99Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections99 PART III Item 10.Directors, Executive Officers and Corporate Governance100Item 11.Executive Compensation111Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters117Item 13.Certain Relationships and Related Transactions, and Director Independence120Item 14.Principal Accountant Fees and Services121 PART IV Item 15.Exhibits, Financial Statement Schedules123Item 16.Form 10-K Summary131 In this Annual Report on Form 10-K, “we,” “our,” “us,” “Aptevo,” and the “Company” refer to Aptevo TherapeuticsInc. and, where appropriate, its consolidated subsidiaries. PART I Cautionary Note Regarding Forward