NEWTOWN SQUARE, PA — ArriVent BioPharma, Inc. (Nasdaq: AVBP) reported a wider second-quarter loss as the company pressed forward with late-stage development of its lead cancer drug, firmonertinib, and advanced its antibody-drug conjugate (ADC) pipeline.
The biotech ended the quarter with $254.5 million in cash and investments, excluding $81.1 million raised in a July public offering, which it says will fund operations through mid-2027.
CEO Bing Yao said firmonertinib continues to show promise across multiple EGFR-mutant non-small cell lung cancer (NSCLC) populations, including hard-to-treat patient groups. Positive interim Phase 1b results in patients with EGFR PACC mutations, presented in June, showed meaningful progression-free survival, central nervous system responses, and a manageable safety profile. Final data from this study will be presented in September at the World Conference on Lung Cancer, with enrollment in the pivotal global Phase 3 ALPACCA trial expected to start in the second half of 2025.
ArriVent is also targeting early 2026 for top-line results from its pivotal FURVENT Phase 3 trial evaluating firmonertinib in EGFR exon 20 insertion mutations.
In addition, the company dosed the first patient in a Phase 1 study of ARR-217, a CDH17-targeted ADC for gastrointestinal tumors, marking the first clinical program from its ADC portfolio.
For the first half of 2025, research and development expenses jumped to $89 million from $38.8 million a year earlier, reflecting a $40 million upfront payment to partner Lepu Biopharma and higher clinical costs. General and administrative expenses rose to $11.4 million from $7.6 million.
Net loss for the six-month period was $95.8 million, compared with $39.3 million in the same period last year, while net cash used in operations increased to $94.1 million from $37.7 million.
Yao said the strengthened balance sheet positions ArriVent to deliver on “a series of important catalysts over the next twelve months” as it works toward potential regulatory filings for firmonertinib and further clinical development of its ADC pipeline.
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