ArriVent BioPharma Reports Full Year 2024 Financial Results

Core Viewpoint - ArriVent BioPharma, Inc. has reported significant progress in its clinical programs, particularly with firmonertinib, and has expanded its antibody-drug conjugate (ADC) portfolio, indicating a strong commitment to developing innovative cancer therapies [2][5][11]. Recent and Full Year 2024 Highlights - Firmonertinib demonstrated robust anti-tumor activity in NSCLC patients with EGFR PACC mutations, with clinical data presented at major conferences [5][6]. - The global pivotal Phase 3 study for firmonertinib in first-line NSCLC with EGFR exon 20 insertion mutations achieved its target enrollment of 375 patients [5][6]. - The company has selected ARR-002 as its next-generation ADC candidate for IND-enabling studies [5][6]. - As of December 31, 2024, ArriVent had cash and cash equivalents of $266.5 million, expected to fund operations into 2026 [5][8]. Financial Results - For the year ended December 31, 2024, research and development expenses increased to $79.0 million from $64.9 million in 2023, primarily due to increased headcount and clinical expenses related to firmonertinib [8][21]. - General and administrative expenses rose to $15.3 million from $9.7 million in 2023, reflecting the costs associated with operating as a public company [8][21]. - The net loss for 2024 was $80.5 million, compared to a net loss of $69.3 million in 2023 [8][21]. Pipeline Developments - Firmonertinib is being studied in multiple clinical trials, including a global Phase 3 trial for first-line NSCLC patients with EGFR exon 20 insertion mutations and a Phase 1b study for patients with EGFR PACC mutations [14][15]. - The company has entered into collaborations to enhance its ADC portfolio, including a partnership with Lepu Biopharma for ARR-217 and a collaboration with Alphamab for novel ADCs [11][12]. Upcoming Milestones - ArriVent plans to provide updates on its investigations of firmonertinib in first-line NSCLC patients with EGFR PACC mutations in the first half of 2025 [7][11]. - The company anticipates top-line data from the pivotal Phase 3 study of firmonertinib in 2025 and plans to file the first IND for ARR-217 in the first half of 2025 [7][11].