NEWTOWN SQUARE, PA — ArriVent BioPharma, Inc. (Nasdaq: AVBP) reported its first-quarter 2025 financial results, accompanied by updates on its pipeline progress and corporate milestones. The company continues to prioritize advancements in its oncology-focused portfolio, including significant developments for firmonertinib, its investigational treatment for non-small cell lung cancer (NSCLC), and ARR-217, a recently acquired antibody drug conjugate (ADC).
Progress in Oncology Programs
ArriVent achieved a critical milestone with the completion of patient enrollment for its global pivotal Phase 3 FURVENT study, which evaluates firmonertinib monotherapy in first-line NSCLC patients with EGFR exon 20 insertion mutations. Firmonertinib is a highly selective EGFR inhibitor with strong brain penetrance, showing potential to address unmet needs in EGFR-mutant NSCLC. The company has also announced plans to update the clinical development pathway for firmonertinib in NSCLC patients with EGFR PACC mutations, with additional data expected in Q2 2025.
“We continued our strong execution across our oncology-focused pipeline and are preparing for several near-term milestones. Importantly, our late-stage firmonertinib program continues to show differentiated potential to address unmet needs across EGFR-mutant non-small cell lung cancer (NSCLC),” said Bing Yao, Chairman and Chief Executive Officer of ArriVent.
Adding to its portfolio, ArriVent secured global rights (excluding Greater China) to ARR-217 (MRG007), an ADC targeting the gastrointestinal marker CDH17, through a collaboration with Lepu Biopharma. ARR-217 has shown promise in preclinical studies, with strong antitumor activity in gastrointestinal cancers such as colorectal and pancreatic cancers. The company submitted the first Investigational New Drug (IND) application for ARR-217 in China earlier this year.
Dr. Yao expressed optimism about the expanded portfolio, stating, “ARR-217 (MRG007), our recently acquired antibody drug conjugate (ADC) targeting the gastrointestinal marker CDH17 with best-in-class potential, is expected to be the first ADC from our pipeline to enter the clinic.”
Financial Performance
ArriVent disclosed cash, cash equivalents, and marketable securities totaling $205.5 million as of March 31, 2025, which are projected to fund operations into the second half of 2026. This quarter, net cash used in operations jumped to $68.0 million compared to $18.6 million in the same period last year, primarily due to a one-time $40 million payment made to Lepu Biopharma as part of the ARR-217 collaboration.
Research and development (R&D) expenses increased significantly to $61.3 million for Q1 2025, reflecting growing investments in the firmonertinib program and pipeline expansion. Similarly, general and administrative (G&A) expenses rose to $5.5 million, driven by the costs of operating as a public company. The company reported a net loss of $64.4 million for the first quarter, up from $17.4 million in Q1 2024.
Leadership Enhancements
During the quarter, ArriVent appointed Dr. Merdad Parsey to its Board of Directors. Dr. Parsey brings extensive leadership experience in global clinical development, having served notably as Chief Medical Officer and Executive Vice President at Gilead Sciences. This strategic addition supports ArriVent’s efforts to advance its oncology pipeline towards regulatory and commercial success.
Looking Ahead
With a pivotal year ahead, ArriVent BioPharma remains focused on its clinical and strategic priorities. The company anticipates presenting further data on firmonertinib in EGFR PACC mutant NSCLC and releasing topline results from the FURVENT Phase 3 study later in 2025. Additionally, ARR-217 is poised to become a key growth driver as it progresses into clinical trials for gastrointestinal cancers.
These achievements and forward-looking developments spotlight ArriVent’s efforts to address complex oncology challenges and deliver innovative treatments. By advancing its pipeline and maintaining financial resources to support sustained operations, the company is well-positioned to make significant strides in cancer research and treatment throughout 2025 and beyond.
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