Acrivon Therapeutics Reports Increased Q3 Loss Amid Research Expansion

Published 6 hours agoACRV

Acrivon Therapeutics Reports Increased Q3 Loss Amid Research Expansion

Acrivon Therapeutics has reported a net loss of $22.4 million for the third quarter of 2024, marking a significant increase from the $14.5 million loss in the same period last year. The 54.5% rise in research and development expenses, which reached $18.9 million, largely contributed to this outcome, attributed to the progression of their ACR-368 program and the start of the ACR-2316 clinical trial. General and administrative expenses also saw a modest rise to $6.3 million, driven by increased personnel costs.

Acrivon's recent business highlights include promising interim results from a Phase 2b trial of ACR-368 showcased at the ESMO congress. The trial demonstrated a confirmed overall response rate of 62.5% in patients with high-grade endometrial cancer, indicating strong potential for this treatment. Additionally, the company successfully completed the enrollment for the first dose-escalation cohort in their Phase 1 study of ACR-2316, ahead of its anticipated schedule.

The company is keeping a robust cash position with $202.8 million in cash, cash equivalents, and marketable securities as of September 30, 2024. This reserve is expected to sustain their operations into the second half of 2026. These financial and clinical milestones highlight Acrivon’s ongoing efforts to enhance their oncology pipeline, aiming to meet critical needs in cancer therapy, as noted in Reuters’ coverage.

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