Acrivon Therapeutics Provides Program Updates and Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Acrivon Therapeutics is advancing its Generative Phosphoproteomics AP3 platform to enhance drug discovery and development, particularly focusing on endometrial cancer with promising clinical data for its lead candidate ACR-368 [1][3][10] Clinical Developments - ACR-368 demonstrated a confirmed overall response rate (cORR) of 35% in OncoSignature-positive patients with heavily pretreated endometrial cancer, significantly higher than the previous line of therapy's 15% [1][6] - In patients who relapsed after prior anti-PD-1 and chemotherapy, the cORR was 50% with a median duration of response (mDOR) exceeding 10 months, while refractory patients showed a cORR of 33% and mDOR of approximately 3.4 months [1][3][6] - The Phase 1 trial of ACR-2316 is ahead of schedule, with initial clinical activity and tumor shrinkage observed at the third dose level [1][3] Financial Performance - For the fourth quarter and full year ended December 31, 2024, the company reported a net loss of $22.8 million and$80.6 million, respectively, compared to $19.3 million and$60.4 million for the same periods in 2023 [5][7] - Research and development expenses increased to $18.6 million for the quarter and$64.0 million for the full year 2024, primarily due to the ongoing development of ACR-368 and ACR-2316 [7][8] Cash Position - As of December 31, 2024, Acrivon had cash, cash equivalents, and investments totaling $184.6 million, expected to fund operations into 2027 [9][10] Strategic Focus - The company is prioritizing endometrial cancer due to limited treatment options and a compelling commercial opportunity, reallocating resources to ACR-368 and ACR-2316 [1][5][6] - Acrivon is also exploring the potential of ACR-368 in combination with ultra-low dose gemcitabine, with preliminary data suggesting significant sensitization in patients [6][11]