Aravive, Inc. (Nasdaq: ARAV) announced the successful completion of its Phase 1b trial for AVB-500 in platinum-resistant ovarian cancer, achieving an overall response rate (ORR) of 60% in untreated patients. The firm is on track to discuss a potential pivotal trial with the FDA and initiate a Phase 1b/2 trial for AVB-500 in clear cell renal cell carcinoma in the second half of 2020. Financially, Aravive reported zero revenue for Q2 2020, a net loss of $5.0 million, and maintains a cash position of $60.1 million, sufficient to fund operations into 2022.
Aravive, Inc. (Nasdaq: ARAV) announced the successful completion of the Phase 1b trial for its AVB-500 drug candidate in platinum-resistant ovarian cancer. A recommended Phase 2 dose of 15 mg/kg has been selected. The trial included 84 subjects, indicating AVB-500 was well-tolerated, with no dose-limiting toxicities. Preliminary efficacy data show a promising overall response rate, particularly in patients achieving a minimum efficacious concentration. Aravive plans to discuss these results and the Phase 2/3 trial strategy with the FDA by year-end 2020.
Aravive, Inc. (Nasdaq: ARAV) announced its inclusion in the Russell 2000® and Russell 3000® Indexes, effective June 29, 2020. This marks a significant milestone for the clinical-stage biopharmaceutical company, which is focused on developing treatments for cancer and fibrosis. CEO Gail McIntyre stated that this inclusion is expected to enhance the company's visibility and positively impact stock liquidity. The Russell indexes are utilized by approximately $9 trillion in assets, indicating the potential for increased interest from institutional investors.
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