Aravive Inc. (ARAV) stock price remained unchanged on Tuesday, March 16, 2021, but it gained 8.13% in the after-hours trading as ARAV Stock announced its financial results for the fourth quarter and full-year ended December 31, 2020, around 4 pm on Tuesday.
- ARAV Revenue for the three months and twelve months ended December 31, 2020, was $5.7 million for both periods.
- It spent $9.7 million on operating expenses in the reported quarter and $36.5 million for the whole year
- Aravive reported a net loss of $4.0 million, $0.25 per share for the reported quarter and $30.5 million, $1.93 per share for the full year 2020.
- ARAV had cash and cash equivalents of $60.5 million on December 31, 2021, compared to $65.1 million as of December 31, 2019.
- FDA guided ARAV on a registrational Phase 3 trial design for AVB-500 in PROC and initiated the trial during the first quarter of 2021. The global randomized trial will enrol 300-500 patients and will evaluate the efficacy and tolerability of AVB-500 at a dose of 15 mg/kg in combination with paclitaxel vs paclitaxel monotherapy.
- Aravive dosed its first patient in its Phase 1b/2 trial of AVB-500 in ccRCC during the first quarter of 2021. The Phase 1b portion of the trial is expected to enrol up to 18 patients in three dosing arms (15 mg/kg, 20 mg/kg and 25 mg/kg) to evaluate tolerability, pharmacokinetics, pharmacodynamics, and clinical activity of AVB-500 in combination with cabozantinib. Aravive expects to report topline data from the Phase 1b portion of the trial in the second half of 2021.
- Aravive signed a license agreement with 3D Medicines Inc. for the development and commercialization of AVB-500 in China Hong Kong, Macau, and Taiwan. ARAV will get $12 million and is eligible to receive up to $207 million in development and commercial milestone payments and also a percentage form net sales of AVB-500 in Greater China.
Participation in Society of Gynecologic Oncology Annual Meeting
On March 12, 2021, ARAV announced that it is going to present updated data from its Phase 1b trial evaluating AVB-500 in platinum-resistant ovarian cancer (PROC) at the 2021 Society of Gynecologic Oncology Annual Meeting on Women’s Cancer. the meeting is scheduled to held virtually on March 19-25, 2021.
Participation in virtual investors conferences
Aravive, Inc. participated and conducted meeting virtually at the H.C. Wainwright Global Life Sciences Conference which took place on March 9-10, 2021.
Aravive stock is also going to participate virtually in the Oppenheimer 31st Annual Healthcare Conference scheduled for Thursday, March 18, 2021, at 8:00 a.m. ET.
Aravive, Inc. was founded in 2008 and is based in Houston, United States. ARAV is a clinical-stage oncology company developing transformative therapeutics designed to stop the advancement of life-threatening diseases.