Last $0.89 USD
Change Today +0.07 / 8.54%
Volume 454.4K
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As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

aveo pharmaceuticals inc (AVEO) Key Developments

AVEO Oncology Signs Research and Exclusive Option Agreement with Ophthotech

AVEO Oncology signed a research and exclusive option agreement with Ophthotech, a company developing Novel Therapies for Age-Related Macular Degeneration. The agreement has been signed for vascular endothelial growth factor tyrosine kinase inhibitor, tivozanib, to treat ocular diseases. Under the deal, Ophthotech has to pay AVEO Oncology an upfront option fee of USD 500,000 to investigate tivozanib. During the option term, if Ophthotech decides to continue development of the ocular formulation of tivozanib after its initial analysis, AVEO is eligible to receive around USD 8 million in milestone payments based upon the achievement of specified research, development and business goals. Ophthotech now has license to investigate the potential of AVEO's tivozanib, outside of Asia, for the potential treatment of non-oncologic diseases of the eye.

AVEO Pharmaceuticals, Inc. Presents at Brean Capital Life Sciences Summit, Nov-24-2014

AVEO Pharmaceuticals, Inc. Presents at Brean Capital Life Sciences Summit, Nov-24-2014 . Venue: Convene (Formerly Sentry Centers), 730 3rd Avenue, New York, New York, United States.

AVEO Oncology Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

AVEO Oncology reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported collaboration revenue was $873,000 against $323,000 a year ago. Loss from operations was $14,099,000 against $23,608,000 a year ago. Net loss was $14,436,000 or $0.28 basic and diluted net loss per share against $24,306,000 or $0.47 basic and diluted net loss per share a year ago. For the nine-month period, the company reported collaboration revenue was $18,007,000 against $970,000 a year ago. Loss from operations was $37,456,000 against $87,835,000 a year ago. Net loss was $38,845,000 or $0.75 basic and diluted net loss per share against $90,304,000 or $1.78 basic and diluted net loss per share a year ago.

AVEO Pharmaceuticals, Inc. to Report Q3, 2014 Results on Nov 06, 2014

AVEO Pharmaceuticals, Inc. announced that they will report Q3, 2014 results on Nov 06, 2014

AVEO Oncology and Biodesix, Inc. Announces Presentation of Results from A Retrospective Exploratory Analysis Using Veristrat

AVEO Oncology and Biodesix, Inc. announced the presentation of results from a retrospective exploratory analysis using VeriStrat, a commercially available serum protein test, to identify patients most likely to benefit from the addition of ficlatuzumab, AVEO's HGF inhibitory antibody, to epidermal growth factor receptor (EGFR) tyrosine-kinase inhibitor (TKI) therapy in a randomized Phase 2 study of ficlatuzumab and gefitinib (IRESSA) in previously untreated Asian subjects with non-small cell lung cancer (NSCLC). The results, presented in a poster session (abstract #8195) at the 2014 Congress of the European Society for Medical Oncology (ESMO), suggest that VeriStrat may be selective of positive clinical response for ficlatuzumab plus gefitinib over gefitinib alone. A total of 188 patients were enrolled in a randomized Phase 2 study (P6162) designed to compare the combination of ficlatuzumab and gefitinib with gefitinib alone in treatment-naïve Asian patients with non-small cell lung adenocarcinoma. For this retrospective exploratory analysis, 180 serum samples were assigned a VeriStrat label of either "Good" (VSG) or "Poor" (VSP) (VSG=145, VSP=35). While the study failed to demonstrate improved overall survival (OS) or progression-free survival (PFS) over gefitinib alone in the intent-to-treat population, the addition of ficlatuzumab to gefitinib provided significant clinical benefit to the VSP subgroup. No benefit was observed in the VSG subgroup in either OS (Median 24.7 mo for ficlatuzumab + gefitinib [n=69] vs not reached for gefitinib alone [n=76]; HR 1.18, p=0.492) or PFS (Median 5.6 mo for ficlatuzumab + gefitinib vs 5.6 mo for gefitinib alone; HR 1.06, p=0.753). Despite the small sample sizes, similar patterns in OS and PFS based on VeriStrat stratification were also observed in patients with known EGFR mutations (n=71) and VSP classification (n=11). Based on these data, in April 2014, AVEO and Biodesix(R) entered into a worldwide agreement to develop and commercialize ficlatuzumab with a Biodesix companion diagnostic test. As part of this agreement, AVEO and Biodesix plan to conduct a confirmatory Phase 2 study using a Biodesix VeriStrat "Poor" classification as a selective biomarker for the combination of ficlatuzumab and an EGFR-TKI, versus an EGFR TKI alone, in previously untreated, EGFR mutation-positive patients with advanced non-small-cell lung cancer. The study is expected to initiate before year-end.

 

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