ArriVent BioPharma Reports Third Quarter 2026 Financial Results
ARR-217 dose optimization data are expected in the first half of 2027, followed by combination data in the second half.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
ArriVent BioPharma (AVBP) reported third-quarter 2026 results showing a wider net loss and continued advancement of its clinical pipeline. Quarterly collaboration revenue was $5 million, versus none a year earlier; net loss widened to $40.313 million from $34.978 million. Cash and investments totaled $393.2 million at September 30, which the company expects to fund operations to mid-2028.
Phase 3 FURVENT missed its primary endpoint: firmonertinib 240 mg produced median progression-free survival of 11.0 months versus 9.5 months with chemotherapy. ALPACCA enrollment continued. Preliminary ARR-217 results showed a 44.8% response rate, including confirmed and unconfirmed responses, in evaluable colorectal cancer patients receiving 6 mg/kg. ARR-002's U.S. Phase 1a/1b study dosed its first patient. ArriVent plans a FURVENT review update in the first quarter of 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Cash and investments of $393.2 million at September 30, 2026 are expected to fund operations to mid-2028.
- Moderate pointFURVENT confirmed response rate was 60% versus 33% with chemotherapy; safety was consistent with prior studies.
- Minor pointThird-quarter collaboration revenue reached $5 million, versus none in 2025; nine-month revenue matched those amounts.
- Minor pointALPACCA Phase 3 enrollment continued, evaluating firmonertinib against osimertinib or afatinib in first-line EGFR PACC-mutant lung cancer.
- Minor pointPreliminary ARR-217 response rate was 44.8%, including confirmed and unconfirmed responses, in evaluable colorectal cancer patients at 6 mg/kg.
9 minor points
- Minor pointARR-217 disease control rate was 93.1% in evaluable colorectal cancer patients treated at 6 mg/kg.
- Minor pointARR-217 Phase 1b dose optimization and expansion are ongoing.
- Minor pointARR-002 dosed its first patient in its U.S. Phase 1a/1b ovarian and endometrial cancer study.
- Minor point. Forward-looking: it has not happened yet and may not happen.ARR-217 Phase 1b dose optimization data are expected in the first half of 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.ARR-217 combination data with bevacizumab and with chemotherapy are expected in the second half of 2027.
- Minor pointNine-month operating cash use decreased to $122.2 million from $129.9 million in 2025.
- Minor pointNine-month research and development expense declined to $118.853 million from $121.176 million in 2025.
- Minor pointBasic and diluted loss per share narrowed to $0.81 quarterly and $2.82 year-to-date, versus $0.83 and $3.54.
- Minor pointNine-month interest and investment income increased to $8.651 million from $7.947 million in 2025.
Negative
- Major pointFURVENT missed its primary progression-free survival endpoint: 11.0 versus 9.5 months; hazard ratio 0.75, p=0.0654.
- Moderate pointThird-quarter net loss widened to $40.313 million from $34.978 million; nine-month loss widened to $133.526 million from $130.764 million.
- Moderate pointCommon shares outstanding increased to 51,212,170 at September 30, 2026, from 42,452,251 at December 31, 2025.
- Minor pointThird-quarter research and development expense rose to $38.897 million from $32.167 million in 2025.
- Minor pointGeneral and administrative expense rose to $9.479 million quarterly and $28.324 million year-to-date, versus $6.149 million and $17.535 million.
2 minor points
- Minor pointARR-217 adverse events were predominantly low-grade gastrointestinal and hematologic toxicities.
- Minor pointThird-quarter interest and investment income declined to $3.063 million from $3.338 million in 2025.
News Explained
At
Key Figures
- Median PFS
- 11.0 vs. 9.5 months
- FURVENT Phase 3; firmonertinib 240 mg vs. chemotherapy
- Hazard ratio
- 0.75
- FURVENT, firmonertinib 240 mg vs. chemotherapy
- P-value
- p=0.0654
- FURVENT, firmonertinib 240 mg vs. chemotherapy
- Confirmed objective response rate
- 60% vs. 33%
- FURVENT, firmonertinib 240 mg vs. chemotherapy; BICR
- Objective response rate
- 44.8%
- ARR-217 Phase 1; evaluable colorectal cancer patients treated at 6 mg/kg
- Disease control rate
- 93.1%
- ARR-217 Phase 1; evaluable colorectal cancer patients treated at 6 mg/kg
- Cash and investments
- $393.2 million
- As of September 30, 2026; expected to fund operations to mid-2028
- Net loss
- $133.5 million vs. $130.8 million
- Nine months ended September 30, 2026 vs. 2025
Previous Earnings Reports
-
Reported $373.1 million in cash and investments, with funding expected into 2028.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
adc medical
pfs medical
bicr medical
pharmacokinetics medical
drug-to-antibody ratio technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Continued enrollment in pivotal Phase 3 ALPACCA study in EGFR PACC-mutant NSCLC
- Presented encouraging Phase 1 data for ARR-217, a CDH17-targeted ADC for gastrointestinal malignancies at ESMO
- Dosed first patient in U.S. Phase 1a/1b study of ARR-002, a novel dual-target MUC16/NaPi2b tetravalent ADC, with initial focus in ovarian and endometrial cancers
- Strengthened clinical leadership with announcement of Priti Patel, M.D., M.S., as Chief Medical Officer, bringing extensive oncology development experience
- Cash and investments of
$393.2 million as of September 30, 2026 expected to fund operations to mid-2028
NEWTOWN SQUARE, Pa., Nov. 09, 2026 (GLOBE NEWSWIRE) -- ArriVent BioPharma, Inc. (Company or ArriVent) (Nasdaq: AVBP), a clinical-stage company dedicated to accelerating the global development of innovative biopharmaceutical therapeutics, today reported financial results for the third quarter ended September 30, 2026, and highlighted recent Company progress.
“Enrollment remains on track for our global Phase 3 ALPACCA trial in first line EGFR PACC mutant NSCLC patients. While FURVENT did not meet its primary endpoint, firmonertinib demonstrated clear antitumor activity, with an efficacy and safety profile consistent with prior studies. We are conducting a detailed review of the FURVENT study to better understand the totality of the data.,” said Bing Yao, Ph.D., CEO of ArriVent. “Our antibody-drug conjugate (ADC) portfolio is also advancing, with initial ARR-217 data showing promising antitumor activity and a manageable safety profile in colorectal cancer. In addition, we dosed the first patient in a Phase 1 study of ARR-002. We are encouraged by the momentum across our pipeline and excited about the opportunity to advance these programs toward new potential treatment options for patients with significant unmet needs.”
Third Quarter 2026 and Recent Highlights
Firmonertinib
- Continued Enrollment in Global Pivotal Phase 3 ALPACCA in PACC-Mutant NSCLC. The ALPACCA study is evaluating firmonertinib 240 mg against investigator’s choice of osimertinib or afatinib in first line patients with EGFR PACC mutant NSCLC. The study builds on encouraging Phase 1b FURTHER findings and includes an interim analysis of objective response rate to support a potential accelerated approval pathway, with PFS assessed for potential full approval.
- Reported Phase 3 FURVENT Results and Evaluating Next Steps. FURVENT did not meet its primary endpoint of progression-free survival (PFS) by blinded independent central review (BICR). At 240 mg, firmonertinib demonstrated median PFS of 11.0 months versus 9.5 months with chemotherapy (HR 0.75; p=0.0654), a confirmed objective response rate by BICR of
60% versus33% , and a safety profile consistent with prior studies. The Company is reviewing the full dataset, including differences between BICR and investigator-assessed PFS in the chemotherapy arm, to inform potential next steps.
ADC Pipeline
- Presented Phase 1 ARR-217 Data at ESMO. Preliminary Phase 1 data for ARR-217 (MRG007), a CDH17-targeted ADC being developed in partnership with Lepu Biopharma, was presented in a late breaking rapid oral presentation at the European Society for Medical Oncology (ESMO) Congress 2026. In evaluable patients with colorectal cancer treated at 6 mg/kg, the objective response rate, including confirmed and unconfirmed responses, was
44.8% and the disease control rate was93.1% . Adverse events were predominantly low-grade gastrointestinal and hematologic toxicities. Phase 1b dose optimization and expansion are ongoing. - Advanced ARR-002 into Clinical Development. Dosed the first patient in the U.S. Phase 1a/1b first-in-human study of ARR-002, a novel dual-target MUC16/NaPi2b tetravalent ADC. The dose-escalation and expansion study is evaluating safety, dosing and early signals of efficacy in patients with advanced or metastatic ovarian or endometrial cancer.
Corporate
- Strengthened Clinical Leadership. Announced Dr. Priti Patel, M.D., M.S., as Chief Medical Officer. Dr. Patel brings extensive experience, in particular late-stage development experience, in both large pharmaceutical and emerging biotech in global oncology development including AstraZeneca, Acerta and Onyx Pharmaceuticals. Prior to joining ArriVent, Dr. Patel served as Chief Medical Officer at Neoleukin Therapeutics and Vice President, Head of Hematology Clinical Development at AstraZeneca.
- Retirement of Dr. Stuart Lutzker. Stuart Lutzker, M.D., Ph.D., a co-founder of ArriVent, announced his retirement. Over the past five years, Dr. Lutzker served as the President of Research and Development and Board member. During his tenure, Dr. Lutzker led the research and development team and was the architect of our ADC pipeline including advancing ARR-217 and ARR-002 into the clinic. “Dr. Lutzker has been the driving force behind our R&D vision,” said Dr. Yao. “We are deeply grateful for his unwavering commitment and passion in advancing new therapies for patients. We thank him for all his contributions.”
Upcoming Milestones
- Firmonertinib update. We plan to provide an update on firmonertinib in the first quarter of 2027 around the review of the FURVENT study.
- Phase 1b Data for ARR-217. Phase 1b dose optimization data for ARR-217 in late line colorectal cancer are expected in the first half of 2027, and ARR-217 combination data with bevacizumab as well as combination data with chemotherapy are expected in the second half of 2027.
2026 Financial Results
- As of September 30, 2026, the Company had cash and investments of
$393.2 million , which is expected to fund operations to mid-2028. - Net cash used in operations was
$122.2 million and$129.9 million for the nine months ended September 30, 2026 and 2025, respectively. - Research and development expenses were
$118.9 million and$121.2 million for the nine months ended September 30, 2026 and 2025, respectively. - General and administrative expenses were
$28.3 million and$17.5 million for the nine months ended September 30, 2026 and 2025, respectively. - Net loss was
$133.5 million and$130.8 million for the nine months ended September 30, 2026 and 2025, respectively.
About ArriVent
ArriVent is a clinical-stage biopharmaceutical company dedicated to the identification, development, and commercialization of differentiated medicines to address the unmet medical needs of patients with cancers. ArriVent seeks to utilize its team’s deep drug development experience to maximize the potential of its lead development candidate, firmonertinib, and advance a pipeline of next-generation antibody drug conjugates, through approval and commercialization.
About Firmonertinib
Firmonertinib is an oral, highly brain-penetrant, and broadly active mutation-selective epidermal growth factor receptor (EGFR) inhibitor active against both classical and uncommon EGFR mutations, including PACC and exon 20 insertion mutations. Firmonertinib is approved in China for first-line advanced non-small-cell lung cancer (NSCLC) with EGFR exon 19 deletion or L858R mutations and for patients with previously treated locally advanced or metastatic NSCLC with EGFR T790M mutation, otherwise known as EGFR classical mutations. Firmonertinib is also approved in China for NSCLC with EGFR exon 20 insertion mutations in patients who had progressed during/after platinum chemotherapy or were intolerant to platinum chemotherapy.
Firmonertinib was granted U.S. Food and Drug Administration (FDA) Breakthrough Therapy Designation for the treatment of patients with previously untreated locally advanced or metastatic non-squamous NSCLC with EGFR exon 20 insertion mutations. Firmonertinib was also granted U.S. FDA Orphan Drug Designation for the treatment of NSCLC with EGFR mutations or human epidermal growth factor receptor 2 (HER2) mutations or HER4 mutations.
Firmonertinib is currently being studied in a global Phase 3 study in first line NSCLC patients with EGFR PACC mutations (ALPACCA; NCT07185997).
About EGFR mutant NSCLC
Globally, lung cancer is the leading cause of cancer-related deaths among men and women. NSCLC is the predominant subtype of lung cancer, accounting for approximately
About EGFR PACC mutations
P-loop and αC-helix compressing (PACC) EGFR mutations are a distinct set of approximately 70 mostly missense activating mutations within the kinase domain of EGFR. They are similar to exon 20 insertion mutations in narrowing the drug binding pocket to affect tyrosine kinase inhibitor activity. PACC mutations are diagnosed through commercially available NGS and most PCR tests. Patients with PACC mutations have limited treatment options, and there is no broadly utilized standard of care treatment for first-line PACC mutant patients.
About ALPACCA
ALPACCA is a global, pivotal 2 arm Phase 3 clinical trial of firmonertinib in first-line non-squamous locally advanced or metastatic NSCLC patients with PACC mutations being conducted jointly with our partner Allist (NCT07185997). The ALPACCA trial is evaluating firmonertinib 240 mg once daily versus investigator’s choice of osimertinib or afatinib in first-line patients with EGFR PACC mutant NSCLC. The 240 mg dose of firmonertinib was selected for pivotal development based on compelling data showing a 16-month median PFS and a confirmed
About ARR-217
ARR-217 (also known as MRG007) is a cadherin-17 (CDH17) targeted ADC, with a glycan-linked, exatecan-based payload. CDH17 is a membranous cell adhesion molecule and is frequently overexpressed in colorectal cancer (CRC) and several other gastrointestinal (GI) cancers, with limited expression in normal intestinal tissue and pancreatic duct. The differential expression profile in tumor versus normal tissue makes it an attractive target for antibody-drug conjugate (ADC) in GI cancers, particularly CRC. ARR-217 is currently being evaluated in a multi-center, Phase I study to evaluate the safety, tolerability, efficacy, and pharmacokinetics in patients with unresectable locally advanced or metastatic solid tumors (NCT07066657).
About ARR-002
ARR-002 (also known as AV-P138-ADC) is a first-in-class, Mucin-16 (MUC16) and sodium-dependent phosphate transport protein 2b (NaPi2b) dual-target, tetravalent (2+2 format) ADC, with site-specific conjugation to vcMMAE at a drug-to-antibody ratio (DAR) of 4. Both these cell surface antigens are expressed in solid tumors including ovarian and endometrial cancers with limited expression in normal tissues, making them ideal co-targets. ARR-002 is currently being evaluated in a multi-center, Phase I study to evaluate the safety, tolerability, efficacy, and pharmacokinetics in patients with ovarian and endometrial cancers (NCT07755436).
Forward-Looking Statements
This press release includes certain disclosures that contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans, cash runway, estimates of our addressable market, activity of our product candidates compared to available therapies, anticipated clinical milestones, the timing of our planned enrollment of the global pivotal Phase 3 study of firmonertinib in previously untreated NSCLC patients whose tumors contain EGFR PACC mutations, the advancement of the Phase 1 study for ARR-217 in gastrointestinal tumors and the timing of presentation of data from that study, the timing of the advancement of the Phase 1 study for ARR-002, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or the negative of these words or other similar terms or expressions. Forward-looking statements are based on ArriVent’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties that are described more fully in the section titled “Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on March 5, 2026, and our other filings with the Securities and Exchange Commission. Forward-looking statements contained in this press release are made as of this date, and ArriVent undertakes no duty to update such information except as required under applicable law.
| ARRIVENT BIOPHARMA, INC. | ||||||||
| BALANCE SHEETS | ||||||||
| (in thousands, except share and per share data) | ||||||||
| (Unaudited) | ||||||||
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 113,583 | $ | 45,540 | ||||
| Short-term investments | 279,640 | 267,281 | ||||||
| Prepaid expenses and other current assets | 23,392 | 20,076 | ||||||
| Total current assets | 416,615 | 332,897 | ||||||
| Right of use assets – operating leases | 302 | 13 | ||||||
| Deferred offering costs | 38 | 69 | ||||||
| Other assets | 134 | 190 | ||||||
| Total assets | $ | 417,089 | $ | 333,169 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 2,615 | $ | 5,934 | ||||
| Accrued expenses | 20,742 | 19,997 | ||||||
| Operating lease liabilities | 256 | 14 | ||||||
| Total liabilities | 23,613 | 25,945 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock | — | — | ||||||
| Common stock | 5 | 4 | ||||||
| Additional paid-in capital | 932,104 | 711,847 | ||||||
| Accumulated deficit | (538,167 | ) | (404,641 | ) | ||||
| Accumulated other comprehensive income (loss) | (466 | ) | 14 | |||||
| Total stockholders’ equity | 393,476 | 307,224 | ||||||
| Total liabilities and stockholders’ equity | $ | 417,089 | $ | 333,169 | ||||
| ARRIVENT BIOPHARMA, INC. | ||||||||||||||||
| STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||||||||||
| (in thousands, except share and per share data) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Collaboration revenue | $ | 5,000 | $ | — | $ | 5,000 | $ | — | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 38,897 | 32,167 | 118,853 | 121,176 | ||||||||||||
| General and administrative | 9,479 | 6,149 | 28,324 | 17,535 | ||||||||||||
| Total operating expenses | 48,376 | 38,316 | 147,177 | 138,711 | ||||||||||||
| Operating loss | (43,376 | ) | (38,316 | ) | (142,177 | ) | (138,711 | ) | ||||||||
| Interest and investment income | 3,063 | 3,338 | 8,651 | 7,947 | ||||||||||||
| Net loss | (40,313 | ) | (34,978 | ) | (133,526 | ) | (130,764 | ) | ||||||||
| Unrealized gain (loss) on marketable securities | (199 | ) | 226 | (480 | ) | 419 | ||||||||||
| Total other comprehensive gain (loss) | (199 | ) | 226 | (480 | ) | 419 | ||||||||||
| Total comprehensive loss | $ | (40,512 | ) | $ | (34,752 | ) | $ | (134,006 | ) | $ | (130,345 | ) | ||||
| Share information: | ||||||||||||||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.81 | ) | $ | (0.83 | ) | $ | (2.82 | ) | $ | (3.54 | ) | ||||
| Weighted-average shares of common stock outstanding, basic and diluted | 49,526,356 | 41,912,905 | 47,425,424 | 36,968,978 | ||||||||||||
Contact:
Joyce Allaire
LifeSci Advisors, LLC
jallaire@lifesciadvisors.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were ArriVent's third-quarter 2026 financial results?
ArriVent reported $5 million in collaboration revenue and a $40.313 million net loss for the three months ended September 30, 2026. A year earlier, collaboration revenue was zero and net loss was $34.978 million. Basic and diluted net loss per share was $0.81, versus $0.83.
Did ArriVent's FURVENT trial meet its primary endpoint?
FURVENT did not meet its primary endpoint of progression-free survival assessed by blinded independent central review. Firmonertinib 240 mg produced median progression-free survival of 11.0 months versus 9.5 months with chemotherapy, with a hazard ratio of 0.75 and p=0.0654.
What is ArriVent reviewing before deciding FURVENT's next steps?
ArriVent is reviewing the full FURVENT dataset, including differences between independent central review and investigator-assessed progression-free survival in the chemotherapy arm. The review is intended to inform potential next steps.
How could ArriVent's ALPACCA trial support regulatory approval?
ALPACCA includes an interim response-rate analysis to support a potential accelerated approval pathway, with progression-free survival assessed for potential full approval. The trial compares firmonertinib 240 mg once daily with the investigator's choice of osimertinib or afatinib in first-line EGFR PACC-mutant non-small-cell lung cancer.