$APVO
Aptevo Therapeutics Inc.

2016 Q4 Form 10-Q Financial Statement

#000156459016029292 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $8.769M $9.405M $6.562M
YoY Change 5.83% 43.33%
Cost Of Revenue $5.080M $6.163M $3.525M
YoY Change -3.05% 74.84%
Gross Profit -$2.300M $3.242M $3.037M
YoY Change -175.41% 6.75%
Gross Profit Margin -26.23% 34.47% 46.28%
Selling, General & Admin $8.210M $11.68M $8.513M
YoY Change -41.94% 37.2%
% of Gross Profit 360.27% 280.31%
Research & Development $6.360M $7.114M $7.712M
YoY Change -14.17% -7.75%
% of Gross Profit 219.43% 253.93%
Depreciation & Amortization $450.0K $2.370M $1.690M
YoY Change -44.44% 40.24%
% of Gross Profit 73.1% 55.65%
Operating Expenses $14.57M $18.79M $16.23M
YoY Change -32.39% 15.83%
Operating Profit -$14.55M -$86.57M -$13.19M
YoY Change -21.34% 556.39%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$390.0K -$493.0K $84.00K
YoY Change 3800.0% -686.9%
Pretax Income -$14.95M -$87.06M -$13.10M
YoY Change -19.25% 564.36%
Income Tax -$1.100M -$15.32M -$424.0K
% Of Pretax Income
Net Earnings -$14.95M -$71.74M -$12.68M
YoY Change -16.49% 465.78%
Net Earnings / Revenue -170.44% -762.8% -193.23%
Basic Earnings Per Share -$3.55
Diluted Earnings Per Share -$10.31M -$3.55 -$8.745M
COMMON SHARES
Basic Shares Outstanding 20.25M 20.24M
Diluted Shares Outstanding 20.24M

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.50M $60.70M
YoY Change 1084.78%
Cash & Equivalents $9.676M $10.89M $3.477M
Short-Term Investments $44.80M $49.80M
Other Short-Term Assets $2.026M $4.200M
YoY Change -11.91%
Inventory $6.639M $11.57M
Prepaid Expenses
Receivables $4.284M $2.958M
Other Receivables $0.00 $0.00
Total Short-Term Assets $71.41M $79.43M
YoY Change 103.26%
LONG-TERM ASSETS
Property, Plant & Equipment $5.910M $6.139M
YoY Change 41.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.600M
YoY Change
Total Long-Term Assets $20.44M $21.19M
YoY Change -77.93%
TOTAL ASSETS
Total Short-Term Assets $71.41M $79.43M
Total Long-Term Assets $20.44M $21.19M
Total Assets $91.86M $100.6M
YoY Change -28.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.50M $9.000M
YoY Change 3.96%
Accrued Expenses $4.000M $3.400M
YoY Change 21.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $19.54M $15.23M
YoY Change -2.0%
LONG-TERM LIABILITIES
Long-Term Debt $18.38M $18.11M
YoY Change
Other Long-Term Liabilities $469.0K $433.0K
YoY Change 560.56%
Total Long-Term Liabilities $18.85M $18.54M
YoY Change 26452.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.54M $15.23M
Total Long-Term Liabilities $18.85M $18.54M
Total Liabilities $41.29M $36.87M
YoY Change 5.47%
SHAREHOLDERS EQUITY
Retained Earnings -$80.69M -$65.75M
YoY Change -65.22%
Common Stock $151.3M $149.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.57M $63.75M
YoY Change
Total Liabilities & Shareholders Equity $91.86M $100.6M
YoY Change -28.11%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$14.95M -$71.74M -$12.68M
YoY Change -16.49% 465.78%
Depreciation, Depletion And Amortization $450.0K $2.370M $1.690M
YoY Change -44.44% 40.24%
Cash From Operating Activities -$6.660M -$140.0K -$9.360M
YoY Change -13.28% -98.5%
INVESTING ACTIVITIES
Capital Expenditures -$580.0K $50.00K -$440.0K
YoY Change 11.54% -111.36%
Acquisitions
YoY Change
Other Investing Activities $4.920M -$49.80M $0.00
YoY Change
Cash From Investing Activities $4.350M -$49.76M -$440.0K
YoY Change -936.54% 11209.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.110M 55.29M 9.220M
YoY Change -88.14% 499.67%
NET CHANGE
Cash From Operating Activities -6.660M -140.0K -9.360M
Cash From Investing Activities 4.350M -49.76M -440.0K
Cash From Financing Activities 1.110M 55.29M 9.220M
Net Change In Cash -1.200M 5.390M -580.0K
YoY Change -203.45% -1029.31%
FREE CASH FLOW
Cash From Operating Activities -$6.660M -$140.0K -$9.360M
Capital Expenditures -$580.0K $50.00K -$440.0K
Free Cash Flow -$6.080M -$190.0K -$8.920M
YoY Change -15.08% -97.87%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2016Q3 us-gaap Inventory Net
InventoryNet
11574000
CY2016Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2958000
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6456000
CY2015Q4 us-gaap Inventory Net
InventoryNet
20322000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
35134000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.05
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20229849
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
20248824
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10894000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4637000
CY2015Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
1376000
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
CY2015Q4 apvo In Process Research And Development
InProcessResearchAndDevelopment
41800000
CY2016Q3 apvo Intangible Assets Net Excluding Goodwill And In Process Research And Development
IntangibleAssetsNetExcludingGoodwillAndInProcessResearchAndDevelopment
15055000
CY2015Q4 apvo Intangible Assets Net Excluding Goodwill And In Process Research And Development
IntangibleAssetsNetExcludingGoodwillAndInProcessResearchAndDevelopment
17441000
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3818000
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
400000
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
49785000
CY2016Q3 us-gaap Assets Current
AssetsCurrent
79429000
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6139000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
9405000
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
433000
CY2016Q3 us-gaap Liabilities
Liabilities
36873000
CY2015Q4 us-gaap Liabilities
Liabilities
23838000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-71254000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
183000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.55
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2099000
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.63
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.82
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20235987
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20229849
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20231910
us-gaap Share Based Compensation
ShareBasedCompensation
822000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-71747000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13104000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-97498000
us-gaap Net Income Loss
NetIncomeLoss
-41419000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1986000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8748000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1933000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2067000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7712000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22851000
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11680000
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7114000
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
20246355
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
71000
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
20246355
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65746000
CY2016Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
18111000
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
63750000
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
100623000
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
0
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-231988000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
88618000
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
20000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
112456000
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
0
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6441000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
27512000
dei Trading Symbol
TradingSymbol
APVO
dei Entity Registrant Name
EntityRegistrantName
APTEVO THERAPEUTICS INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001671584
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
9405000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
6562000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
19704000
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2343000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4179000
CY2015Q4 us-gaap Assets
Assets
112456000
CY2015Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
10084000
us-gaap Sales Revenue Net
SalesRevenueNet
25315000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3334000
CY2016Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
640000
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
19943000
CY2015Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
3318000
us-gaap Sales Revenue Net
SalesRevenueNet
27665000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28900000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-417000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-230000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-42830000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-29000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1411000
us-gaap Share Based Compensation
ShareBasedCompensation
2067000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2912000
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-17000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-71758000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
16235000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
11696000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-261000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
66000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3497000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4093000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-1376000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1475000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1619000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-1155000
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
244000
apvo Increase Decrease In Provision For Charge Backs
IncreaseDecreaseInProvisionForChargeBacks
208000
apvo Increase Decrease In Provision For Charge Backs
IncreaseDecreaseInProvisionForChargeBacks
296000
CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
3525000
CY2015Q4 us-gaap Goodwill
Goodwill
13902000
CY2016Q3 us-gaap Assets
Assets
100623000
CY2016Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
8951000
CY2016Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3429000
CY2016Q3 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
183000
CY2015Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
444000
CY2016Q3 apvo Provision For Chargebacks
ProvisionForChargebacks
2030000
CY2015Q4 apvo Provision For Chargebacks
ProvisionForChargebacks
2238000
CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3843000
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
15233000
CY2016Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
3096000
CY2015Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
506000
CY2016Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
149493000
CY2016Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-17000
CY2016Q3 apvo Contribution Receivable From Former Parent
ContributionReceivableFromFormerParent
20000000
CY2015Q4 apvo Former Parent Investment In Subsidiary
FormerParentInvestmentInSubsidiary
320606000
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2015Q3 apvo Contracts Grants And Collaborations Revenue
ContractsGrantsAndCollaborationsRevenue
121000
apvo Contracts Grants And Collaborations Revenue
ContractsGrantsAndCollaborationsRevenue
153000
apvo Contracts Grants And Collaborations Revenue
ContractsGrantsAndCollaborationsRevenue
5611000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
6163000
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8513000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29958000
CY2016Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
55702000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
55702000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-493000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
84000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-424000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-17000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12680000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-97486000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-41419000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-506000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-694000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-594000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3425000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1968000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-30197000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-41076000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1012000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
49802000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-51735000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1012000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-493000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
18038000
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-400000
apvo Proceeds From Payment For Former Parent Upon Spin Off Net Of Receivable
ProceedsFromPaymentForFormerParentUponSpinOffNetOfReceivable
45000000
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
25549000
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
42650000
apvo Contingent Consideration Payments
ContingentConsiderationPayments
678000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
88189000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
41972000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6257000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-116000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3593000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3477000
us-gaap Interest Paid
InterestPaid
261000
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
46394000
apvo Stockholders Equity Net Transfers From Former Parent
StockholdersEquityNetTransfersFromFormerParent
24155000
us-gaap Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Chargebacks, Rebates, and other Discounts</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Aptevo markets and sells its products through commercial wholesalers (direct customers) who purchase the products at a price referred to as the wholesale acquisition cost (WAC). Additionally, Aptevo may enter into separate agreements with indirect customers to acquire its products for a contracted price that is less than the product&#8217;s WAC. The indirect customers, such as group-purchasing organizations, physician practice-management groups and hospitals, continue to purchase Aptevo&#8217;s products from the wholesalers, but at their respective contractual prices. Per its wholesaler agreements, Aptevo guarantees to credit the wholesaler for the difference between the WAC and the indirect customers&#8217; contracted price. This credit is referred to as a chargeback and revenues from product sales are recorded net of estimated chargebacks. Adjustments to the chargeback provisions are made periodically to reflect new facts and circumstances, therefore historical experience may not be indicative of current and/or future results.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All revenues from product sales are also recorded net of applicable allowances for sales and government rebates, special promotional programs, and discounts. These allowances are estimated based on historical payment experience, historical relationship to revenues, estimated customer inventory levels, contract terms, and actual discounts offered. In arriving at these estimates, Aptevo further utilizes information received from third parties including market data, inventory reports from major wholesalers, historical information and analysis. These estimates are subject to the inherent limitations of estimates that rely on third-party data, as certain third-party information may itself rely on estimates and reflect other limitations.</p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially subject Aptevo to concentrations of credit risk consist primarily of cash and cash equivalents, certain investments and accounts receivable. Aptevo places its cash and cash equivalents with high quality financial institutions and may maintain cash balances in excess of insured limits. Management believes that the financial risks associated with its cash and cash equivalents are minimal.</p></div>
apvo Date Of Spinoff
DateOfSpinoff
2016-08-01
CY2016Q3 apvo Proceeds From Payment For Former Parent Upon Spin Off Net Of Receivable
ProceedsFromPaymentForFormerParentUponSpinOffNetOfReceivable
45000000
CY2016Q3 us-gaap Due From Other Related Parties
DueFromOtherRelatedParties
20000000
CY2016Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
35000000
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3500000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2016Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
54995000
CY2016Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2016Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
apvo Future Royalty Payments Expected
FutureRoyaltyPaymentsExpected
0
apvo Royalty Agreement Expiration Date
RoyaltyAgreementExpirationDate
2016-06-30
CY2015Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
444000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
19000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
280000
CY2016Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
4644000
CY2015Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
6520000
CY2016Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1652000
CY2015Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4730000
CY2016Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5278000
CY2015Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9072000
CY2016Q3 us-gaap Inventory Write Down
InventoryWriteDown
2900000
us-gaap Line Of Credit Facility Frequency Of Payment And Payment Terms
LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms
The loan repayment will include interest (no principal) through August 2018. Commencing in August 2018, the payments will include principal and interest and will be repaid in full on February 1, 2021 (54 months).
CY2016Q3 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P54M
CY2016Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2021-02-01
us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
LIBOR
CY2016Q3 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0760
CY2016Q3 apvo Credit Agreement Exit Fee Percentage
CreditAgreementExitFeePercentage
0.0575
CY2016Q3 apvo Credit Agreement Prepayment Fee Percentage For First Year
CreditAgreementPrepaymentFeePercentageForFirstYear
0.04
CY2016Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
41800000
CY2016Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
13900000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1333000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2067000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
281000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
822000

Files In Submission

Name View Source Status
0001564590-16-029292-index-headers.html Edgar Link pending
0001564590-16-029292-index.html Edgar Link pending
0001564590-16-029292.txt Edgar Link pending
0001564590-16-029292-xbrl.zip Edgar Link pending
apvo-10q_20160930.htm Edgar Link pending
apvo-20160930.xml Edgar Link completed
apvo-20160930.xsd Edgar Link pending
apvo-20160930_cal.xml Edgar Link unprocessable
apvo-20160930_def.xml Edgar Link unprocessable
apvo-20160930_lab.xml Edgar Link unprocessable
apvo-20160930_pre.xml Edgar Link unprocessable
apvo-ex311_6.htm Edgar Link pending
apvo-ex312_8.htm Edgar Link pending
apvo-ex321_9.htm Edgar Link pending
apvo-ex322_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending