Acrivon Therapeutics(ACRV) - 2024 Q2 - Quarterly Results

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].