What went well
- Continued advancing both clinical-stage assets, with ACR-368 progressing in its registrational-intent Phase 2b endometrial cancer study and ACR-2316 showing initial clinical activity, including an ongoing confirmed partial response in endometrial cancer, during Phase 1 dose escalation.
- Initiated a third arm of the ACR-368 Phase 2b study that removes the need for a pre-treatment biopsy, evaluating ACR-368 with ultra-low-dose gemcitabine as a tumor sensitizer in all-comer, biomarker-unselected second-line endometrial cancer patients.
- Held cash, cash equivalents and marketable securities of $147.6 million as of June 30, 2025, expected to fund operations into the second quarter of 2027.
What went wrong
- Net loss widened to $21.0 million from $18.8 million a year earlier as research and development spending rose to $16.2 million (from $15.0 million) on increased clinical and preclinical activity.
- As a pre-revenue clinical-stage company, Acrivon continued to fund substantial operating losses entirely from its balance sheet, with no product revenue.
Guidance Changes
| Metric | Period | Current guidance |
|---|---|---|
| Cash runway | As of June 30, 2025 | $147.6M in cash, equivalents and marketable securities; funds operations into Q2 2027 |
| ACR-368 registrational-intent / confirmatory trial design | H2 2025 | Update expected in the second half of 2025 |
| ACR-2316 Phase 1 initial data | H2 2025 | Initial clinical data expected in the second half of 2025 |
Performance Breakdown
| Metric | YoY | Note |
|---|---|---|
| Research & development expense | $16.2M (vs $15.0M) | Increased personnel to support ACR-368 and ACR-2316 clinical trials and preclinical drug discovery. |
| General & administrative expense | $6.5M (vs $6.4M) | Materially consistent year over year. |
| Net loss | $21.0M (vs $18.8M) | Higher R&D spend; loss from operations of $22.6M partly offset by $1.7M interest income. |
| Cash, equivalents & marketable securities | $147.6M | As of June 30, 2025; funds operations into Q2 2027. |
| Diluted net loss per share | $(0.55) | On 38.5M weighted-average shares outstanding. |
Earnings Call Themes & Trends
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| ACR-368 in endometrial cancer | Registrational-intent Phase 2b underway | Added Arm 3 (ACR-368 + ULDG, biopsy-independent all-comers) | Up |
| ACR-2316 Phase 1 | Dose escalation ongoing | No DLTs in three cleared dose levels; confirmed PR in endometrial cancer | Up |
| Cash runway | — | $147.6M into Q2 2027 | Steady |
More on Acrivon Therapeutics, Inc.
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