Equity (Tables)

12 Months Ended

Dec. 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 consolidated statements of operations as follows:

	For the Year Ended December 31,
(in thousands)	2020		2019
Research and development	$	471	$	486
General and administrative		784		1,112
Total stock-based compensation expense	$	1,255	$	1,598

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,
	2020	2019
Expected dividend yield	0.00%	0.00%
Expected volatility	87.78%	79.78%
Risk-free interest rate	1.97%	2.04%
Expected average life of options	7 years	5 years

Summary of Stock Option Activity

The following is a summary of option activity for the year ended December 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	$	64,830
Granted		201,306			7.88		—		—
Exercised		2,241			11.70		—		75,629
Forfeited		(325,904	)		31.84		—		—
Outstanding at December 31, 2020		212,581		$	8.32		8.78	$	5,906,007
Exercisable at December 31, 2020		59,711		$	8.60		7.40	$	1,677,094

Summary of RSU Activity

The following is a summary of restricted stock activity for the year ended December 31, 2020:

	Number of Units			Weighted Average Fair Value per Unit		Aggregate Fair Value
Balance at December 31, 2019		17,458		$	8.06	$	—
Granted		9,000			41.00		369,000
Vested		(10,815	)		8.06		69,865
Forfeited		(6,643	)		8.06		—
Outstanding at December 31, 2020		9,000		$	41.00	$	98,176
Expected to Vest		9,000		$	41.00	$	357,593