Stock Alert: Aptevo Jumps 15% On Positive Data In Blood Cancer Trial

(RTTNews) - Shares of Aptevo Therapeutics Inc. (APVO) are gaining over 15% on Tuesday morning after the clinical-stage biotechnology company announced first complete remission in ongoing Phase 1 trial for blood cancer.

APVO is currently trading at $7.30, up $1.00 or 15.87%, on the Nasdaq.

Aptevo Therapeutics, a clinical-stage biotechnology company focused on developing novel immuno-oncology therapeutics based on its proprietary ADAPTIR platform, announced that, based on preliminary data, a patient in cohort 6 of ongoing APVO436 Phase 1 clinical trial has shown complete remission.

APVO436 is a novel anti-CD123 x anti-CD3 targeted investigational bispecific antibody therapy being evaluated for the treatment of acute myeloid leukemia and myelodysplastic syndrome.

Acute myeloid leukemia is a type of cancer of the blood and bone marrow with excess immature white blood cells. Myelodysplastic syndrome are a group of disorders caused when something disrupts the production of blood cells.

According to Webmd, complete remission means that tests, physical exams, and scans show that all signs of your cancer are gone. Some doctors also refer to complete remission as "no evidence of disease. That doesn't mean you are cured.