What went well
- Advanced the registrational-intent Phase 2b ACR-368 study toward key 2026 catalysts, with both biopsy-independent serous endometrial cancer arms (Arm 3 with ultra-low-dose gemcitabine and the newly initiated single-agent Arm 4) enrolling and a prespecified simultaneous interim analysis of both arms planned for the second half of 2026.
- Advanced ACR-2316 toward its Phase 1 expansion phase with favorable tolerability (primarily transient neutropenia) and durable clinical activity at weekly dosing, including in heavily pretreated lung cancers.
- Presented AP3-based data at AACR supporting ACR-368 and ACR-2316 combinations with checkpoint inhibitors, and continued IND-enabling work on the CDK11 candidate ACR-6840.
- Held $97.7 million in cash, equivalents and marketable securities as of March 31, 2026, plus $7.3 million from a subsequent equity financing, extending the runway into the third quarter of 2027.
What went wrong
- Cash, equivalents and marketable securities declined to $97.7 million from $118.6 million at year-end 2025 as the company funded operations, dipping below $100 million.
- The company remained pre-revenue with a net loss of $19.0 million for the quarter as it invested ahead of its 2026 clinical readouts.
Guidance Changes
| Metric | Period | Current guidance |
|---|---|---|
| Cash runway | As of March 31, 2026 | $97.7M plus $7.3M subsequent equity financing; funds operations into Q3 2027 (extended from Q2 2027) |
| ACR-368 simultaneous interim analysis (Arms 3 & 4) | H2 2026 | Prespecified simultaneous interim analysis and data update from both all-comer serous EC arms expected |
| ACR-368 Phase 3 confirmatory readiness | Mid-2026 | Readiness for a Phase 3 confirmatory trial (ACR-368 with PD-1 therapy) targeted by mid-2026 |
| ACR-368 Arm 3 or Arm 4 enrollment complete | Q4 2026 | Complete enrollment of the registrational-intent serous EC arm by Q4 2026, based on interim data |
| ACR-6840 (CDK11) IND filing | H1 2027 | IND submission to the FDA for ACR-6840 or an alternative CDK11 candidate targeted for the first half of 2027 |
Performance Breakdown
| Metric | YoY | Note |
|---|---|---|
| Research & development expense | $15.2M (vs $15.4M) | Materially consistent year over year. |
| General & administrative expense | $4.7M (vs $6.2M) | Lower employee-related expenses, including stock-based compensation. |
| Net loss | $19.0M (vs $19.7M) | Slightly lower operating expenses; loss from operations of $19.9M partly offset by $1.0M interest income. |
| Cash, equivalents & marketable securities | $97.7M | As of March 31, 2026, plus $7.3M subsequent equity financing; funds operations into Q3 2027. |
| Diluted net loss per share | $(0.49) | On 38.7M weighted-average shares outstanding. |
Earnings Call Themes & Trends
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| ACR-368 in serous endometrial cancer | Arm 4 announced; 52% cORR in serous EC | Arm 4 initiated and dosing; simultaneous Arm 3/Arm 4 interim analysis planned H2 2026 | Up |
| ACR-2316 Phase 1/2 | Initial data in lung cancers | Advancing toward expansion with durable activity at weekly dosing | Up |
| Cash runway | $118.6M into Q2 2027 | $97.7M (+$7.3M) into Q3 2027 | Up |
More on Acrivon Therapeutics, Inc.
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