Drug Development and Clinical Trials - Firmonertinib received Breakthrough Therapy Designation from the FDA for treatment of EGFRm NSCLC in October 2023[58] - In the FAVOUR trial, 79% of patients (22 out of 28) experienced a reduction in tumor size of at least 30%[60] - The median duration of response for patients in the FAVOUR trial was 15.2 months[62] - The Allist License Agreement includes milestone payments up to $765 million upon achieving certain development and regulatory milestones[63] - The company plans to increase research and development expenses significantly as it advances firmonertinib and identifies new product candidates[72] Financial Performance - The company incurred a net loss of $39.3 million for the six months ended June 30, 2024, compared to $33.7 million for the same period in 2023[66] - Total operating expenses for the three months ended June 30, 2024, were $25.7 million, an increase of $3.1 million from $22.6 million in 2023[76] - Research and development expenses for the three months ended June 30, 2024, were $21.8 million, up from $20.4 million in 2023[76] - Total operating expenses for the six months ended June 30, 2024, were $46.4 million, up $11.6 million from $34.8 million in 2023[80] - Total research and development expenses for the six months ended June 30, 2024, were $38.8 million, an increase of $8.2 million from $30.6 million in 2023[81] - General and administrative expenses for the six months ended June 30, 2024, were $7.6 million, an increase of $3.5 million from $4.2 million in 2023[82] Cash Flow and Financing - The company completed its initial public offering on January 30, 2024, raising net proceeds of $183.2 million[65] - The company raised gross proceeds of $305.0 million from the issuance of convertible preferred stock and $183.2 million from its initial public offering in the first quarter of 2024[85] - Cash and cash equivalents as of June 30, 2024, totaled $298.7 million, expected to meet cash requirements into 2026[87] - Net cash used in operating activities was $37.7 million for the six months ended June 30, 2024, reflecting a net loss of $39.3 million[91] - Net cash provided by financing activities was $186.0 million for the six months ended June 30, 2024, primarily from the initial public offering[93] Company Classification and Accounting - The company is classified as an emerging growth company under the JOBS Act, allowing it to delay the adoption of certain accounting standards until they apply to private companies[98] - The company will remain an emerging growth company until it achieves total annual gross revenue of at least $1.235 billion or the market value of its common stock held by non-affiliates exceeds $700 million[99] - The company is also a smaller reporting company, which allows it to take advantage of scaled disclosures as long as its voting and non-voting common stock held by non-affiliates is less than $250 million[100] - There have been no changes to the company's critical accounting policies from those described in the Annual Report[97] Risk Factors - The company believes its exposure to interest rate risk is not significant, with a hypothetical 1.0% change in market interest rates not materially impacting its portfolio[103] - The company does not regularly incur material expenses in foreign currencies, and exchange rate fluctuations have not materially affected its results of operations to date[104] - Inflation has generally increased the company's labor and clinical trial costs, but it does not anticipate a material impact on its results of operations going forward[105] - The company evaluates its estimates and judgments related to accrued research and development and stock-based compensation expenses based on historical experience and known trends[96]

Exhibit 99.1 ArriVent BioPharma Reports Second Quarter 2024 Financial Results Clinical proof-of-concept monotherapy data for once daily, first-line firmonertinib in EGFR PACC mutant non-small cell lung cancer (NSCLC) to be presented as a presidential symposium presentation at the 2024 World Conference on Lung Cancer (WCLC) ArriVent to host virtual webinar on these interim analyses of Phase 1b data for firmonertinib in EGFR PACC mutant NSCLC in conjunction with 2024 WCLC on September 9, 2024 at 4:30pm ET Ent ...

Clinical proof-of-concept monotherapy data for once daily, first-line firmonertinib in EGFR PACC mutant nonsmall cell lung cancer (NSCLC) to be presented as a presidential symposium presentation at the 2024 World Conference on Lung Cancer (WCLC) ArriVent to host virtual webinar on these interim analyses of Phase 1b data for firmonertinib in EGFR PACC mutant NSCLC in conjunction with 2024 WCLC on September 9, 2024 at 4:30pm ET Entered into a multi-target antibody drug conjugate (ADC) collaboration agreement ...

First-line monotherapy data for once daily firmonertinib selected as an oral presentation in the presidential session First prospectively designed randomized clinical data for a small-molecule EGFR tyrosine kinase inhibitor in PACC mutant non-small cell lung cancer patient population ArriVent to host virtual webinar in conjunction with 2024 WCLC NEWTOWN SQUARE, Pa., Aug. 12, 2024 (GLOBE NEWSWIRE) -- ArriVent BioPharma, Inc. (Company or ArriVent) (Nasdaq: AVBP), a clinical-stage company dedicated to accelera ...

Drug Development and Clinical Trials - Firmonertinib received Breakthrough Therapy Designation from the FDA in October 2023 for treatment of EGFRm NSCLC [63]. - In the FAVOUR trial, 79% of patients (22 out of 28) experienced a reduction in tumor size of at least 30% [67]. - The median duration of response for those patients was 15.2 months [67]. - Total firmonertinib costs rose to $12.8 million in Q1 2024, compared to $6.9 million in Q1 2023, reflecting a $5.9 million increase primarily due to the FURVENT Phase 3 clinical trial [90]. - The Allist License Agreement includes milestone payments up to $765 million based on development and sales milestones [68]. Financial Performance - The company reported a net loss of $17.4 million for Q1 2024, compared to a net loss of $12.2 million in Q1 2023 [89]. - As of March 31, 2024, the accumulated deficit was $175.3 million [71]. - Total operating expenses for Q1 2024 were $20.7 million, an increase of $8.5 million compared to Q1 2023 [89]. - Research and development expenses rose to $17.0 million in Q1 2024, up from $10.2 million in Q1 2023 [89]. - General and administrative expenses were $3.7 million for Q1 2024, up from $1.9 million in Q1 2023, marking a 94.7% increase [91]. Cash Flow and Financing - Interest income for Q1 2024 was $3.3 million, compared to $0 for Q1 2023, indicating a significant increase in cash equivalents [93]. - The company raised gross proceeds of $305.0 million from the issuance of convertible preferred stock and $183.2 million from its initial public offering in Q1 2024 [94]. - Net cash used in operating activities was $18.6 million for Q1 2024, compared to $16.9 million in Q1 2023, reflecting an increase in net loss [101][102]. - Net cash provided by financing activities was $185.6 million for Q1 2024, significantly higher than $45.0 million in Q1 2023 [104]. - As of March 31, 2024, the company had cash and cash equivalents of $317.4 million, which is expected to meet anticipated cash requirements into 2026 [96]. - The company plans to fund future operating expenses through additional public or private equity offerings, debt financings, and collaborations [95]. - The company has no long-term obligations other than operating lease obligations totaling $313,000 as of March 31, 2024 [105].

Financial Performance - As of March 31, 2024, ArriVent had cash and cash equivalents of $317.4 million, an increase from $150.4 million as of December 31, 2023[21]. - The net loss for Q1 2024 was $17.4 million, compared to a net loss of $12.2 million in Q1 2023[12]. - ArriVent's total operating expenses for Q1 2024 were $20.7 million, compared to $12.2 million in Q1 2023[23]. Research and Development - Research and development expenses for Q1 2024 were $17.0 million, up from $10.2 million in Q1 2023, primarily due to increased headcount and clinical expenses related to firmonertinib[12]. - The company fully enrolled its NSCLC EGFR PACC mutation Phase 1b cohort in the FURTHER study and initiated a Phase 1b combination study of firmonertinib and ICP-189 in March 2024[3]. - Firmonertinib was presented at the 2024 AACR Annual Meeting, demonstrating broad preclinical activity against various EGFR mutations[5]. - Proof-of-concept data for firmonertinib in patients with NSCLC EGFR PACC mutations is expected in 2024[11]. Administrative Changes - General and administrative expenses rose to $3.7 million in Q1 2024 from $1.9 million in Q1 2023, attributed to expanding infrastructure for operating as a public company[12]. - The company appointed Kristine Peterson to its Board of Directors in April 2024, bringing over 30 years of industry leadership experience[8]. Shareholder Information - The weighted-average shares of common stock outstanding increased to 25,046,531 in Q1 2024 from 1,287,574 in Q1 2023[23].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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: 001-41929 ARRIVENT BIOPHARMA, INC. (Exact name of registrant as specified in its charter) (State of Other Jurisdiction of incorpo ...

Financial Performance - ArriVent reported a net loss of $69.3 million for the year ended December 31, 2023, compared to a net loss of $37.0 million in 2022, representing an increase of 87.5%[13]. - General and administrative expenses rose to $9.7 million in 2023 from $6.5 million in 2022, marking an increase of 49% primarily due to costs associated with operating as a public company[10]. - The total operating expenses for 2023 were $74.6 million, compared to $36.9 million in 2022, indicating a significant increase of 102%[17]. Research and Development - Research and development expenses increased to $64.9 million in 2023 from $30.4 million in 2022, reflecting a rise of 113% due to increased clinical spending on trials related to furmonertinib[10]. - Furmonertinib received Breakthrough Therapy Designation from the FDA for the treatment of advanced or metastatic non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations[6]. - The Phase 1b FURTHER trial for furmonertinib is fully enrolled, with proof-of-concept data expected in 2024[10]. - ArriVent announced a clinical development collaboration with InnoCare Pharma to investigate a novel SHP2 inhibitor in combination with furmonertinib[6]. - The company is currently enrolling patients globally for the pivotal Phase 3 FURVENT trial targeting first-line NSCLC with EGFR exon 20 insertion mutations[6]. Cash and Funding - As of December 31, 2023, ArriVent had cash, cash equivalents, and marketable securities totaling $150.4 million, which, along with IPO proceeds, is expected to fund operations into 2026[13]. - The company completed a successful IPO in January 2024, raising $201 million in gross proceeds[5].