Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Stock-based Compensation Expense Includes Amortization of Stock Options and Restricted Stock Units Granted

Stock-based compensation expense includes amortization of stock options and RSUs granted to employees and non-employees and has been reported in our consolidated statements of operations as follows:

	For the Year Ended December 31,
(in thousands)	2022		2021
Research and development	$	196	$	510
General and administrative		1,606		1,133
Total stock-based compensation expense	$	1,802	$	1,643

Assumptions used in Valuing the Stock Options Granted under Black-Scholes Valuation Model

Aptevo utilizes the Black-Scholes valuation model for estimating the fair value of all stock options granted. Set forth below are the assumptions used in valuing the stock options granted:

	For the Year Ended December 31,
	2022	2021
Expected dividend yield	0.00%	0.00%
Expected volatility	106.24%	99.15%
Risk-free interest rate	1.71%	0.61%
Expected average life of options	5 years	5 years

Summary of Stock Option Activity

The following is a summary of option activity for the year ended December 31, 2022:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Term		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021		334,412		$	19.17		8.70	$	43,210
Granted		69,588			5.54		—		—
Exercised		(85	)		6.97		—		21
Forfeited		(39,649	)		25.61		—		—
Outstanding at December 31, 2022		364,266			15.77		7.39		—
Exercisable at December 31, 2022		187,838		$	13.73		6.33		—
Vested and expected to vest at December 31, 2022		321,078		$	15.77		7.21	$	—

Summary of RSU Activity

The following is a summary of restricted stock activity for the year ended December 31, 2022:

	Number of Units			Weighted Average Fair Value per Unit
Outstanding at December 31, 2021		56,810		$	30.66
Granted		199,604			5.05
Vested		(17,903	)		30.43
Forfeited		(14,736	)		21.08
Outstanding at December 31, 2022		223,775		$	8.47
Expected to Vest		223,775		$	8.47