Acrivon Therapeutics reports Q2 EPS (64c), consensus (65c)

“The Acrivon team has made significant progress during the second quarter, both on the clinical and preclinical development fronts, as well as with the expansion of our board and executive leadership team with strategic additions,” said Peter Blume-Jensen, M.D., Ph.D., chief executive officer, president, and founder of Acrivon. “We are delighted to welcome Chuck Baum to our board and Adam Levy as our head of investor relations and corporate affairs. They both share the passion for our vision to revolutionize precision medicine with our proteomics-based AP3 patient selection platform, including our proprietary drug-specific OncoSignature test, a first-of-its-kind companion diagnostic to identify patients likely to respond to treatment. We remain focused on the successful execution of our ongoing registrational-intent Phase 2 study of ACR-368, our potentially first-in-class CHK1/2 inhibitor, in patients with platinum-resistant ovarian cancer, endometrial adenocarcinoma, and urothelial cancers, based on predicted sensitivity using our OncoSignature test. We look forward to sharing initial clinical data on this clinical study later in the second half of this year. Based on previously reported data that ACR-368 induced deep and durable responses in a proportion of patients with platinum-resistant ovarian cancer and squamous cell cancers, as well as prospectively-designed, blinded preclinical studies using pretreatment tumor biopsies and patient-derived xenograft models to demonstrate the ability of OncoSignature to enrich for responders, we are energized by the significant potential we have to transform the cancer treatment landscape for patients. As a further example of the broad and actionable utility of our AP3 platform, we are also using it together with co-crystallography for optimal drug design to rapidly advance our preclinical pipeline against two critical cell cycle targets, WEE1 and PKMYT1, and are on track for development candidate nomination and the initiation of IND-enabling studies in the second half of this year.”