tag:blogger.com,1999:blog-2080506270244832638.post1633951329585922703..comments2024-03-18T20:44:42.858-05:00Comments on Clark Street Value: Aptevo Therapeutics: Positive Trial Results, Tang Capital Offer, Proxy FightMDChttp://www.blogger.com/profile/10679835609782815537noreply@blogger.comBlogger66125tag:blogger.com,1999:blog-2080506270244832638.post-51618458344003636302023-07-18T10:56:09.141-05:002023-07-18T10:56:09.141-05:00Any thoughts on the recent APVO news and price dro...Any thoughts on the recent APVO news and price drop?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-65228949876106124852023-06-29T15:40:56.977-05:002023-06-29T15:40:56.977-05:00Ok, thanks!Ok, thanks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-65702521372614786092023-06-29T08:16:39.277-05:002023-06-29T08:16:39.277-05:00It is trading below cash, but hasn't "rai...It is trading below cash, but hasn't "raised the white flag" yet, but it is one that continue to occasionally keep an eye on.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-62528120473261166402023-06-28T21:17:24.871-05:002023-06-28T21:17:24.871-05:00Is it time to get back in?Is it time to get back in?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-78643061666397061172023-06-28T21:16:17.088-05:002023-06-28T21:16:17.088-05:00Anyone doing research on APVO? Trading under $1.50...Anyone doing research on APVO? Trading under $1.50/shareAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-88190565877935835732023-06-02T09:12:01.545-05:002023-06-02T09:12:01.545-05:00Nice post thank you TrevorNice post thank you TrevorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-82077387783435672162022-03-07T14:02:48.108-06:002022-03-07T14:02:48.108-06:00THXTHXAnonymoushttps://www.blogger.com/profile/06027930985721948539noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-53034831587510017262022-03-07T08:47:05.302-06:002022-03-07T08:47:05.302-06:00Sorry, I don't closely follow this one anymore...Sorry, I don't closely follow this one anymore, maybe others know more about the current situation.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-16040140028526570212022-03-06T03:03:22.485-06:002022-03-06T03:03:22.485-06:00Is there any news?
Is there any news?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-90197035163300636472021-11-24T07:59:43.194-06:002021-11-24T07:59:43.194-06:00And Tang sold part of his stake just prior? Would...And Tang sold part of his stake just prior? Would love to know the true back and forth between him and the board.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-11629071985745401732021-11-23T18:25:41.770-06:002021-11-23T18:25:41.770-06:00Today was interesting. Was encouraging to see the ...Today was interesting. Was encouraging to see the good news regarding that patient's complete remission.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-35260962896419848512021-08-18T11:51:32.768-05:002021-08-18T11:51:32.768-05:00Should mention that I've sold my position (I&#...Should mention that I've sold my position (I'm a pretty active tax loss harvester) for now, may look at it again if the facts change.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-88830794128031536602021-08-18T11:50:52.924-05:002021-08-18T11:50:52.924-05:00It doesn't sound like the company is going to ...It doesn't sound like the company is going to put itself up for sale until they have a clearer picture of their APVO436 asset, disappointing as a special situations investor, but if it works, I guess the payoff could be even bigger? Tough seeing the $50 offer where the stock is trading now, but also hard to know if Tang could actually execute on it? Just a puzzling situation as someone who knows nothing about biotech.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-134260177673599492021-08-18T10:43:17.435-05:002021-08-18T10:43:17.435-05:00Resurrecting this post...
Tang's 1,760,000 s...Resurrecting this post... <br /><br />Tang's 1,760,000 shares may or may not be under water. I didn't realize he owned 323,325 shares prior to the big purchase in Nov 2020.<br /><br />1,436,675 @ $17.30 (purchased on Nov 4-6, 2020)<br />0,323,325 @ ??? (owned prior to Nov 2020)<br /><br />8/16/2021 - SEC 13F-HR holding report<br />https://sec.report/Document/0001214659-21-008646/<br /><br />11/04/2020 - SEC Form 3 showing Tang already owned 323,325 shares<br />https://sec.report/Document/0001209191-20-057303/<br /><br />Any thoughts on what might happen next?Patrickhttps://www.blogger.com/profile/07899811189313061863noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-75758029049336418972021-06-28T16:22:46.074-05:002021-06-28T16:22:46.074-05:00Non-binding proposal to sell the company passed, b...Non-binding proposal to sell the company passed, but APVO made sure to include this in the results:<br /><br />"The Company’s proxy solicitor, Okapi Partners LLC, has informed the Company that a majority of the votes cast by the holders of all of the shares of common stock present or represented by proxy at the Annual Meeting and voting on such proposal, other than those cast by Tang Capital Management, LP and Aptevo’s Board and management, voted against this proposal."<br /><br />Doesn't sound like a management team that intends on following through here.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-22936695410899803912021-06-21T12:05:36.422-05:002021-06-21T12:05:36.422-05:00Yeah, that makes sense. Good point.Yeah, that makes sense. Good point.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-38830757997530725152021-06-21T11:53:38.220-05:002021-06-21T11:53:38.220-05:00I don't know if it matters too much, if they r...I don't know if it matters too much, if they run a full/complete process then there should be enough bidders other than Tang, but I'm unsure if they run the process that they'll actually sell. Given how aggressive Tang was, hard to fully believe they're interested in selling the company. Still holding, but again, its small, maybe my smallest position.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-9855944605385549102021-06-21T11:51:05.208-05:002021-06-21T11:51:05.208-05:00Not knowledgeable, but I would assume Tang wouldn&...Not knowledgeable, but I would assume Tang wouldn't removed the offer if it would have invalidated proposal 4, but crazier things have happened.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-71394142356195198162021-06-21T09:59:10.081-05:002021-06-21T09:59:10.081-05:00I don't know about legal terms, but the propos...I don't know about legal terms, but the proposal 4 (Tang Stockholder proposal) of the AGM says "RESOLVED, that Stockholders of Aptevo Therapeutics Inc. (“Aptevo”) request that, in light of the pending offer to acquire the outstanding stock of Aptevo for $50 per share, the Aptevo Board of Directors immediately commence a process to sell Aptevo to the highest bidder, consistent with its fiduciary duty to maximize stockholder value."<br /><br />My doubt is that Tang withdraw the 50$ offer, so this kind of invalid the proposal 4, because right now there are not 50$ offer...<br /><br />So the proposal is to ask shareholder if we want that management commence the process to sell, but this is based on the Tang proposal that begins with "RESOLVED, that Stockholders of Aptevo Therapeutics Inc. (“Aptevo”) request that, in light of the pending offer to acquire the outstanding stock of Aptevo for $50 per share" but this 50$ doesn't exist anymore so maybe is invalid the proxy proposal 4. But I am not sure about that. Do you have any thoughts or knoledge about this legal proxies?<br /><br /> Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-51269193843913390242021-06-21T08:35:32.155-05:002021-06-21T08:35:32.155-05:00Hi
Tang have withdrawn the acquisition proposal.
...Hi<br /><br />Tang have withdrawn the acquisition proposal.<br />"We very much appreciate your decision to add to Aptevo’s proxy statement Tang Capital Partners’ advisory proposal seeking shareholder approval to commence a process to sell Aptevo to the highest bidder. In light of this decision, we hereby withdraw our nomination of Thomas Wei and myself as directors for election at the 2021 annual meeting. Additionally, since the Company is unwilling to enter into a confidentiality agreement without a standstill provision, we hereby withdraw our acquisition proposal. Should the Company be willing to enter into a confidentiality agreement without a standstill provision, we would be happy to consider a new acquisition proposal"<br /><br />What are your thoughts on that. If the proposal 4 of the proxy have green light do you thing that they will be force to negociate with Tang again?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-55776499681906778662021-06-21T05:58:17.407-05:002021-06-21T05:58:17.407-05:00Hi MDC
Thank you for your great blog and investme...Hi MDC<br /><br />Thank you for your great blog and investment process.<br /><br />Are you going to vote the proposal 4 of Aptevo Therapeutics Inc.- BLUE CARD Annual Meeting : "FOR" ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-3955429640693099262021-06-05T18:00:15.085-05:002021-06-05T18:00:15.085-05:00https://ir.revivapharma.com/static-files/d94c51b1-...https://ir.revivapharma.com/static-files/d94c51b1-1317-474a-8cb2-15b80147df1d <br />TANG CAPITAL MANAGEMENT, LLC<br />Tang Capital Partners. Tang Capital Partners beneficially owns 1,350,180 shares of the Issuer’s Common Stock, which consists of: (i)<br />1,200,000 shares of the Issuer’s Common Stock and (ii) 150,180 shares currently issuable upon exercise of Warrants (as defined below).<br />Tang Capital Partners owns 4,533,300 of the Issuer’s Investor Warrants and 3,333,300 of the Issuer’s Pre-Funded Warrants (together, the<br />“Warrants,” each as defined in the Issuer's Prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on<br />May 28, 2021).<br />Each Investor Warrant is exercisable for 0.75 of a share of the Issuer’s Common Stock. The Investor Warrants are immediately exercisable<br />and expire five years from the date of issuance. Tang Capital Partners may not exercise any portion of the Investor Warrants for shares of<br />Common Stock if, as a result of the exercise, Tang Capital Partners, together with its affiliates and any other person or entity acting as a<br />group, would own more than 9.99% of the Issuer’s outstanding shares of Common Stock after exercise. However, Tang Capital Partners<br />may increase such percentage to any other percentage, not in excess of 19.99% (to the extent such limit is required under applicable<br />Nasdaq rules), by providing written notice to the Issuer, provided that any increase in such percentage shall not be effective until 61 days<br />after notice is provided to the Issuer.LazkoAVhttps://www.blogger.com/profile/13405658276362672596noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-79677123092370414062021-05-16T02:16:16.537-05:002021-05-16T02:16:16.537-05:00Are you sure the APVO royalty is 2.5%.
I don'...Are you sure the APVO royalty is 2.5%.<br /><br />I don't believe the royalty percentage has been made public by either Pfizer or emergent or aptevo.<br /><br />There is a significant chance the royalty is significantly more than 2.5% given what healthcare royalty paid for just the first 3 years at 100% and last 4 years at 50% of the royalty (the 1st 3 years are the least profitable and her paid 35M for them, if ruxiance is a 300M drug by year 3 the royalty would only be get them about 12M by year 3 at 2.5%.... it is much more likely the royalty is high single digits to low-mid double digits based on industry norms) Dexion10https://www.blogger.com/profile/10592667738347856800noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-13497340741153274852021-05-13T11:25:40.522-05:002021-05-13T11:25:40.522-05:00That seems very unlikely, their cash is fairly pre...That seems very unlikely, their cash is fairly precious and they need access to the public markets for further capital raises, I would think the settlement discussions with Tang are more around either running a process or adding him to the board.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-8146155183981177432021-05-11T15:36:44.210-05:002021-05-11T15:36:44.210-05:00For what it's worth, there is a rumor on Twitt...For what it's worth, there is a rumor on Twitter (Marc Keiser, @BearBull_Trader) that APVO may be trying to buy out Tang in the $25-30 range and take the whole thing private. The annual meeting has been pushed to June 25th, about a month later than in the past.Patrickhttps://www.blogger.com/profile/07899811189313061863noreply@blogger.com