Equity (Tables)

3 Months Ended

Mar. 31, 2020

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 Condensed Consolidated Statements of Operations as follows:

	For the Three Months Ended March 31,
(in thousands)	2020		2019
Research and development	$	170	$	251
General and administrative		243		343
Total stock-based compensation expense	$	413	$	594

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 Three Months Ended March 31,
	2020	2019
Expected dividend yield	0.00%	0.00%
Expected volatility	83.64%	75.00%
Risk-free interest rate	1.42%	2.52%
Expected average life of options	5 years	7 years

Summary of Stock Option Activity

The following is a summary of option activity for the three months ended March 31, 2020:

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Term		Aggregate Intrinsic Value
Balance at December 31, 2019		334,938		$	29.89		7.28	$	—
Granted		94,538			6.97		—		—
Forfeited		(40,849	)		21.24		—		—
Outstanding at March 31, 2020		388,627		$	25.77		7.32	$	—
Exercisable at March 31, 2020		191,446		$	36.05		5.27	$	—

Summary of RSU Activity

The following is a summary of RSU activity for the three months ended March 31, 2020:

	Number of Units			Weighted Average Fair Value per Unit		Aggregate Fair Value
Balance at December 31, 2019		17,458		$	8.06	$	—
Forfeited		(5,103	)		8.06		—
Outstanding at March 31, 2020		12,355		$	8.06	$	61,655
Expected to Vest		12,355		$	8.06	$	61,655