Financial Performance - The net loss for Q2 2024 was $18.8 million, compared to a net loss of $13.9 million in Q2 2023, representing a 35% increase in losses year-over-year[6]. - The total operating expenses for Q2 2024 were $21.4 million, compared to $15.5 million in Q2 2023[13]. - The weighted-average common stock outstanding for Q2 2024 was approximately 36.1 million shares, compared to 21.9 million shares in Q2 2023[13]. Research and Development - Research and development expenses increased to $15.0 million in Q2 2024 from $10.5 million in Q2 2023, primarily due to ongoing development of ACR-368 and increased personnel costs[6]. - ACR-368 demonstrated a confirmed overall response rate (ORR) of 50% in OncoSignature-positive patients with gynecological cancers, including a 60% ORR in endometrial cancer[3]. - ACR-2316, a selective WEE1/PKMYT1 inhibitor, is on track for a Phase 1 clinical study initiation in Q4 2024[4]. - The Phase 1 clinical study of ACR-2316 will be enriched for tumor types predicted to be sensitive to monotherapy through AP3-based indication finding[5]. - The company plans to present updated clinical data for ACR-368 at the ESMO conference on September 14, 2024[5]. Funding and Financial Position - The company executed an oversubscribed private placement financing of $130 million, indicating strong investor support[4]. - As of June 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $220.4 million, expected to fund operations into the second half of 2026[7].

Financial Performance - Acrivon Therapeutics has incurred net losses of $35.3 million and $26.7 million for the six months ended June 30, 2024, and 2023, respectively, with an accumulated deficit of $151.7 million as of June 30, 2024[90]. - The company expects to continue incurring significant operating losses and will require substantial additional funding to support ongoing operations and growth strategies[92]. - The net loss for the three months ended June 30, 2024, was $18.8 million, compared to a net loss of $13.9 million for the same period in 2023, reflecting an increase of $4.9 million[107]. - Net cash used in operating activities was $31.0 million for the six months ended June 30, 2024, compared to $20.5 million for the same period in 2023, an increase of $10.5 million[119]. - Research and development expenses for the six months ended June 30, 2024, totaled $26.5 million, up from $20.3 million in the same period in 2023, an increase of $6.2 million[113]. - General and administrative expenses for the six months ended June 30, 2024, were $12.6 million, compared to $9.6 million for the same period in 2023, reflecting a $3.0 million increase[114]. - Research and development expenses increased to $15.0 million for the three months ended June 30, 2024, compared to $10.5 million for the same period in 2023, representing a $4.5 million increase[108]. - General and administrative expenses were $6.4 million for the three months ended June 30, 2024, up from $5.0 million in the same period in 2023, marking a $1.4 million increase[110]. - Total other income, net was $2.6 million for the three months ended June 30, 2024, compared to $1.6 million for the same period in 2023, an increase of $1.0 million[111]. Cash and Funding - As of June 30, 2024, Acrivon had cash, cash equivalents, and investments totaling $220.4 million, expected to fund operations into the second half of 2026[93]. - Acrivon entered into a PIPE agreement to issue 8,235,000 shares at $8.50 per share, raising aggregate net proceeds of $123.8 million after fees[89]. - The company raised $123.2 million in net cash from financing activities for the six months ended June 30, 2024, primarily from a private placement[121]. - The company plans to finance cash needs through equity offerings, debt financings, and collaborations, which may dilute existing stockholder ownership[127]. - Future capital requirements will depend on various factors, including the costs of clinical development, regulatory review, and commercialization activities[124]. - The company may require additional capital for in-licenses or acquisitions of other drug candidates[123]. Drug Development and Clinical Trials - Acrivon is advancing its lead candidate ACR-368 in a Phase 2 trial for patients with locally advanced or metastatic, recurrent platinum-resistant ovarian cancer, with initial clinical observations indicating a favorable tolerability profile[82][84]. - The ACR-368 OncoSignature test has shown a 50% confirmed objective response rate in OncoSignature-positive patients compared to 0% in OncoSignature-negative patients, with a p-value of 0.0038[85]. - The company is leveraging its AP3 platform to develop additional drug candidates, including ACR-2316, with plans to start a Phase I clinical study in Q4 2024[87]. - Acrivon has incurred significant research and development expenses, primarily related to ACR-368 and the ACR-368 OncoSignature, with costs including external research and manufacturing[98]. - The company has received Fast Track designations for ACR-368 from the FDA for specific cancer treatments, reflecting its potential therapeutic benefits[86]. - The company anticipates significant expenses and operating losses as it advances drug candidates through clinical development and seeks regulatory approval[123]. - If regulatory approval is obtained, significant commercialization expenses related to drug manufacturing, sales, and marketing are expected[123]. Regulatory and Compliance - The company remains classified as an "emerging growth company," allowing it to delay the adoption of certain accounting standards[131]. - The market value of the company's stock held by non-affiliates is less than $700 million, qualifying it as a "smaller reporting company"[133]. - The company may continue to rely on exemptions from certain disclosure requirements available to smaller reporting companies[134]. Contractual Obligations - There were no material changes to contractual obligations during the six months ended June 30, 2024, compared to the previous annual report[128].

Company Performance - Acrivon Therapeutics, Inc. (ACRV) has gained approximately 32.5% year-to-date, outperforming the average gain of 5.3% in the Medical sector [2] - Acrivon Therapeutics, Inc. holds a Zacks Rank of 2 (Buy), indicating a favorable outlook based on earnings estimate revisions [1] - The Zacks Consensus Estimate for ACRV's full-year earnings has increased by 17% over the past three months, reflecting improved analyst sentiment [2] Industry Comparison - Acrivon Therapeutics, Inc. is part of the Medical - Drugs industry, which has seen a decline of about 9.7% year-to-date, indicating that ACRV is performing better than its industry peers [3] - In contrast, the Medical Info Systems industry, which includes Hims & Hers Health, Inc. (HIMS), has experienced a decline of 17.9% since the beginning of the year [3] - Hims & Hers Health, Inc. has achieved a remarkable return of 151.6% year-to-date and has a Zacks Rank of 1 (Strong Buy) [2]

Group 1 - Acrivon Therapeutics, Inc. (ACRV) is currently outperforming its Medical sector peers with a year-to-date gain of approximately 48.6%, compared to the average gain of 5.3% for Medical stocks [2][3] - The Zacks Consensus Estimate for ACRV's full-year earnings has increased by 17% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [2] - Acrivon Therapeutics, Inc. holds a Zacks Rank of 2 (Buy), suggesting it has favorable characteristics for potential outperformance in the market [1] Group 2 - Acrivon Therapeutics, Inc. is part of the Medical - Drugs industry, which consists of 185 stocks and currently ranks 83 in the Zacks Industry Rank; this industry has seen an average loss of 7.2% year-to-date [3] - In contrast, Hims & Hers Health, Inc. (HIMS), another stock in the Medical sector, has achieved a year-to-date return of 134% and has a Zacks Rank of 1 (Strong Buy) [2][3] - The Medical Info Systems industry, which includes Hims & Hers Health, has 43 stocks and is ranked 72, with an average decline of 19.7% since the beginning of the year [3]

Company Overview - Acrivon Therapeutics is a precision oncology company that has made significant advancements in its proprietary Acrivon Predictive Precision Proteomics (AP3) platform in 2024 [1] - The company achieved statistically significant prospective validation of its AP3 patient selection approach through the ACR-368 OncoSignature assay, which can identify ovarian and endometrial patients sensitive to ACR-368 monotherapy [1] Pipeline Developments - Acrivon's lead pipeline candidate, ACR-368/prexasertib, a CHK1/2 inhibitor, is currently in phase II studies across multiple tumor types [1] - Initial positive clinical data from a phase II study of ACR-368 for patients with locally advanced or metastatic, recurrent platinum-resistant ovarian cancer or endometrial adenocarcinoma showed a combined overall confirmed response rate of 50%, surpassing the clinical bar necessary to improve over standard care [1] Stock Performance - Acrivon Therapeutics' stock has increased by 61.6% year to date, contrasting with a 9.3% decline in the industry [2] - The company currently holds a Zacks Rank 2 (Buy), with the consensus estimate for 2024 loss narrowing from $2.98 per share to $2.47 per share over the past 60 days [3] Other Candidates - Another candidate, ACR-2316, a WEE1/PKMYT1 inhibitor, is designed for superior single-agent activity, with clinical studies expected to commence in Q4 2024 [3] Earnings Estimates - Acrivon has beaten earnings estimates in three of the last four quarters, with an average earnings surprise of 3.56% [3]

Core Viewpoint - The Zacks Medical-Drugs industry has shown signs of recovery in early 2024 after a downturn in 2023, driven by M&A activity and innovation in key therapeutic areas, despite facing macroeconomic pressures and pipeline setbacks [1] Industry Overview - The Zacks Medical-Drugs industry consists of small to medium-sized drug companies producing medicines for human and veterinary use, often relying on collaboration payments for revenue [2] Factors Influencing the Industry - Pipeline success is crucial, as the outcomes of clinical studies can significantly impact stock prices, with successful innovations acting as catalysts [3] - Strong collaboration with larger drugmakers is essential for small pharma companies, indicating growth potential [3] - Investment in technology and personalized medicine is necessary for adapting to the evolving healthcare landscape [4] Challenges Facing the Industry - Smaller companies face risks from unstable cash flows and potential failures in key pipeline candidates, which can adversely affect share prices [5] Industry Performance Metrics - The Zacks Medical-Drugs industry currently holds a Zacks Industry Rank of 90, placing it in the top 36% of 250 Zacks industries, indicating positive prospects [6] - Over the past year, the industry has underperformed, with a collective decline of 5.4% compared to the S&P 500's increase of 27.9% [7] Valuation Insights - The industry is trading at a trailing 12-month price-to-sales ratio of 2.05, lower than the S&P 500's 4.07 and the Zacks Medical sector's 3.50 [8] Notable Companies and Their Performance - **Bioventus**: Experiencing double-digit revenue growth, with stock up 20.1% year-to-date and a consensus estimate for 2024 earnings rising from 16 cents to 27 cents per share [9][10] - **Aquestive Therapeutics**: Key pipeline candidate Anaphylm shows promise, with stock up 51.5% year-to-date and a consensus estimate for 2024 loss increasing from 38 cents to 42 cents per share [11][12] - **Cardiol Therapeutics**: Developing CardiolRx for heart disease, with stock up 163.3% year-to-date and a narrowed consensus estimate for 2024 loss from 32 cents to 26 cents per share [14][15] - **Heron Therapeutics**: Key drug Zynrelef has expanded its label, with stock up 103.5% year-to-date and a narrowed consensus estimate for 2024 loss from 22 cents to 10 cents per share [16][17] - **Acrivon Therapeutics**: Progressing in precision oncology with stock up 65% year-to-date and a narrowed consensus estimate for 2024 loss from $2.98 to $2.47 per share [19][20]

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Acrivon Therapeutics, Inc. (ACRV) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.Acrivon Therapeutics, Inc. is a member of our Medical group, which includes 1047 di ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 24, 2024 Acrivon Therapeutics, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 001-41551 82-5125532 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No .) 480 Arsenal Way Suite 100 Watertown, Massachusetts 02472 (Add ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-41551 Acrivon Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Del ...

Investors are always looking for stocks that are poised to beat at earnings season and Acrivon Therapeutics, Inc. (ACRV) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Acrivon Therapeutics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible ...