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Aravive, Inc. (ARAV)

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Previous Close5.18
Open5.18
Bid0.00 x 1200
Ask0.00 x 800
Day's Range5.05 - 5.26
52 Week Range4.27 - 14.94
Volume123,169
Avg. Volume234,822
Market Cap102.035M
Beta (5Y Monthly)3.17
PE Ratio (TTM)N/A
EPS (TTM)-1.93
Earnings DateMay 04, 2021 - May 10, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est22.50
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    • Aravive Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Corporate Updates
      GlobeNewswire

      Aravive Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Corporate Updates

      Initiated a registrational trial of AVB-500 in Platinum Resistant Ovarian Cancer in 1Q 2021First patient dosed in Phase 1b/2 trial of AVB-500 in Clear Cell Renal Cell Carcinoma in 1Q 2021; On-track to report topline data in 2H 2021Strengthened balance sheet with $21.0 million registered direct offering; Current cash and cash equivalents expected to fund operations into 2H 2022 HOUSTON, March 16, 2021 (GLOBE NEWSWIRE) -- Aravive, Inc. (Nasdaq: ARAV), a clinical-stage oncology company developing transformative therapeutics, today announced recent corporate updates and financial results for the fourth quarter and full year ended December 31, 2020. “In the fourth quarter of 2020, we continued to make important progress on Aravive’s mission to improve the lives of people living with cancer,” said Gail McIntyre, Ph.D., Chief Executive Officer of Aravive. “We received guidance from the FDA on a registrational Phase 3 trial design for AVB-500 in platinum resistant ovarian cancer and have initiated the trial. We have dosed our first patient in a Phase 1b/2 trial evaluating AVB-500 in clear cell renal cell carcinoma and are on track to report topline data from the Phase 1b portion of the trial in the second half of 2021. On the corporate front, we established a strategic collaboration with 3D Medicines to develop and commercialize AVB-500 in Greater China and we recently strengthened our balance sheet with a registered direct offering with Eshelman Ventures. Our 2021 objectives are clear, and we are well positioned to achieve our development milestones for AVB-500 while creating value for patients and shareholders.” Recent Corporate Highlights AVB-500 in Platinum Resistant Ovarian Cancer (PROC): Aravive received guidance from the FDA on a registrational Phase 3 trial design for AVB-500 in PROC and initiated the trial during the first quarter of 2021. The global, randomized, double-blind, placebo-controlled adaptive trial will evaluate the efficacy and tolerability of AVB-500 at a dose of 15 mg/kg in combination with paclitaxel vs paclitaxel monotherapy. The registrational, adaptive Phase 3 trial is expected to enroll 300-500 patients with high-grade serous ovarian cancer who have received 1-4 prior lines of therapy across sites in the U.S. and Europe.AVB-500 in Clear Cell Renal Cell Carcinoma (ccRCC): Aravive dosed its first patient in its Phase 1b/2 trial of AVB-500 in ccRCC during the first quarter of 2021. The Phase 1b portion of the trial is expected to enroll up to 18 patients in three dosing arms (15 mg/kg, 20 mg/kg and 25 mg/kg) to evaluate tolerability, pharmacokinetics, pharmacodynamics, and clinical activity of AVB-500 in combination with cabozantinib. The controlled, randomized, open-label Phase 2 portion of the trial will enroll up to 45 patients and investigate the recommended AVB-500 dose identified during the Phase 1b portion of the trial in combination with cabozantinib versus cabozantinib alone. The Company expects to report topline data from the Phase 1b portion of the trial in the second half of 2021.Strategic Collaboration with 3D Medicines for AVB-500 in Greater China: Aravive established a collaboration and exclusive license agreement with 3D Medicines Inc. (3D Medicines) for the development and commercialization of AVB-500 across all oncology indications in mainland China, Hong Kong, Macau, and Taiwan (Greater China). The Company received a signing payment of $12 million and is eligible to receive up to $207 million in development and commercial milestone payments and tiered royalties ranging from the low double digits to mid-teens as a percentage of annual net sales of AVB-500 in Greater China.Strengthened Balance Sheet: In February 2021, Aravive raised $21.0 million from the sale of 2,875,000 shares of common stock to Eshelman Ventures, LLC at a price of $7.29 per share in a registered direct offering. Eshelman Ventures, LLC is an entity wholly owned by Fred Eshelman, Pharm.D., Chairman of Aravive’s Board of Directors. Fourth Quarter and Full Year 2020 Financial ResultsRevenue for the three and twelve months ended December 31, 2020 was $5.7 million for both periods, compared to $0 and $4.8 million for the same periods in 2019. Revenue for 2020 was derived solely from the Company’s collaboration and license agreement with 3D Medicines. Revenue for 2019 was derived solely from the Cancer Prevention Research Institute of Texas (CPRIT) grant. Total operating expenses for the three and twelve months ended December 31, 2020 were $9.7 million and $36.5 million, respectively, compared to $5.2 million and $26.5 million for the same periods in 2019. Total operating expenses for the three and twelve months ended December 31, 2020 included non-cash stock-based compensation expense of $0.4 million and $2.0 million, respectively, compared to $0.6 million and $3.4 million for the same periods in 2019. In addition, during the twelve months ended December 31, 2020, there were non-recurring non-cash charges for impairment of the Company’s right-of-use asset and leasehold improvements of $5.8 million. For the three and twelve months ended December 31, 2020, Aravive reported a net loss of $4.0 million and $30.5 million, or $0.25 per share and $1.93 per share, respectively, compared to a net loss of $4.3 million and $18.2 million, or $0.35 per share and $1.57 per share, for the same periods in 2019. Cash PositionAs of December 31, 2020, cash and cash equivalents was $60.5 million, compared to $65.1 million as of December 31, 2019. The Company expects that its current cash and cash equivalents will be sufficient to fund its operating plans into the second half of 2022. About AraviveAravive, Inc. is a clinical-stage oncology company developing transformative therapeutics designed to halt the progression of life-threatening diseases. Aravive is based in Houston, Texas and received a Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) in 2016. Aravive’s lead product candidate, AVB-500, is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway associated with tumor cell growth. Aravive successfully completed a Phase 1b trial of AVB-500 in platinum resistant ovarian cancer and has initiated a registrational Phase 3 trial of AVB-500 at a dose of 15 mg/kg. While the Phase 1b trial of AVB-500 in platinum resistant ovarian cancer was a safety trial and not powered to demonstrate efficacy, all 5 patients in the 15 mg/kg cohort experienced clinical benefit, with 1 complete response, 2 partial responses, and 2 stable disease. The Company is dosing patients in its Phase 1b/2 trial in clear cell renal cell carcinoma. For more information, please visit www.aravive.com. Forward-Looking StatementsThis communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended), express or implied, such statements regarding being on track to report topline data from the Phase 1b portion of the trial in the second half of 2021, the registrational, adaptive Phase 3 trial enrolling 300-500 patients with high-grade serous ovarian cancer who have received 1-4 prior lines of therapy across sites in the U.S. and Europe, the Phase 1b portion of the trial enrolling up to 18 patients in three dosing arms (15 mg/kg, 20 mg/kg and 25 mg/kg) to evaluate tolerability, pharmacokinetics, pharmacodynamics, and clinical activity of AVB-500 in combination with cabozantinib and current cash being sufficient to fund its operating plans into the second half of 2022. Forward-looking statements are based on current beliefs and assumptions, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement as a result of various factors, including, but not limited to, risks and uncertainties related to: our ability to report topline data form our Phase 1b trial when anticipated, our ability to enroll the number of anticipated patients in each trial, our ability to show the potential for AVB-500 to treat clear cell renal cell carcinoma without adding toxicity, our ability to share updates on our studies as development of AVB-500 across a broad range of cancers advances, the Company's dependence upon AVB-500, AVB-500's ability to have favorable results in clinical trials and ISTs, the clinical trials of AVB-500 having results that are as favorable as those of preclinical and clinical trials, the ability to receive regulatory approval, potential delays in the Company's clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients especially in light of the COVID-19 pandemic, the risk that AVB-500 may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that the Company may encounter difficulties in manufacturing AVB-500, if AVB-500 is approved, risks associated with its market acceptance, including pricing and reimbursement, potential difficulties enforcing the Company's intellectual property rights, the Company's ability to expand development into additional oncology indications, and the Company's reliance on its licensor of intellectual property and our cash runaway being sufficient to fund our operating plans into the second half of 2022 and our financing needs. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, recent Current Reports on Form 8-K and subsequent filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Aravive, Inc.Condensed Consolidated Statements of Operations(in thousands, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, 2020 2019 2020 2019 (unaudited) Revenue Grant revenue $— $— $— $4,753 Collaboration revenue 5,685 — 5,685 — Total revenue 5,685 — 5,685 4,753 Operating expenses Research and development 6,535 2,511 17,620 12,836 General and administrative 3,199 2,652 13,065 13,691 Loss on impairment of long-lived assets — — 5,784 — Total operating expenses 9,734 5,163 36,469 26,527 Loss from operations (4,049) (5,163) (30,784) (21,774)Interest income 4 211 255 1,022 Other income (expense), net (1) 624 (14) 2,534 Net loss $(4,046) $(4,328) $(30,543) $(18,218)Net loss per share- basic and diluted $(0.25) $(0.35) $(1.93) $(1.57)Weighted-average common shares used to compute net loss per share- basic and diluted 16,183 12,506 15,790 11,589 Aravive, Inc.Condensed Consolidated Balance Sheets (in thousands) December 31, December 31, 2020 2019 Assets: Cash and cash equivalents$60,541 $65,134 Restricted cash 2,430 2,423 Other assets 1,781 5,867 Operating lease right-of-use assets 2,958 8,697 Total assets$67,710 $82,121 Liabilities and stockholders' equity: Accounts payable and other current liabilities$4,823 $2,575 Deferred revenue 6,315 — Operating lease obligation 8,517 10,233 Contingent liabilities — 264 Total liabilities 19,655 13,072 Total stockholders' equity 48,055 69,049 Total liabilities and stockholders’ equity$67,710 $82,121 Contacts:Investors:Luke Heagle, W2O lheagle@w2ogroup.com (910) 726-1372 Media:Sheryl Seapy, W2Osseapy@w2ogroup.com(949) 903-4750

    • Aravive to Present Phase 1b Data Evaluating AVB-500 in Platinum Resistant Ovarian Cancer at 2021 Society of Gynecologic Oncology Annual Meeting
      GlobeNewswire

      Aravive to Present Phase 1b Data Evaluating AVB-500 in Platinum Resistant Ovarian Cancer at 2021 Society of Gynecologic Oncology Annual Meeting

      HOUSTON, March 12, 2021 (GLOBE NEWSWIRE) -- Aravive, Inc. (Nasdaq:ARAV), a clinical-stage oncology company developing transformative therapeutics, today announced that updated data from its Phase 1b trial evaluating AVB-500 in platinum resistant ovarian cancer (PROC) will be presented at the 2021 Society of Gynecologic Oncology Annual Meeting on Women’s Cancer. Additionally, a trial in progress poster will be presented on an open label Phase 1/2 investigator-sponsored trial of AVB-500 in combination with durvalumab in patients with platinum resistant, recurrent epithelial ovarian cancer. The meeting is being held virtually on March 19-25, 2021. Oral Presentation Details: Title: Phase 1 Study of GAS6/AXL Inhibitor (AVB-500) in Recurrent, Platinum Resistant Ovarian Carcinoma Presenter: Katherine Fuh, MD, Associate Professor in Obstetrics and Gynecology, Washington University School of Medicine Date: March 19, 2021 Time: 2:35 PM CT Session: Scientific Plenary I: Innovation and Progress in Gynecologic Oncology Poster Presentation Details: Title: Phase I/II study of AVB-S6-500 in Combination with Durvalumab (MEDI4736) in Patients with Platinum-Resistant, Recurrent Epithelial Ovarian Cancer Authors: Emily Hinchcliff, Shannon N. Westin, Virginia Bayer, Weiyi Peng, Linghua Wang, Bryan Fellman, Ying Yuan, Anil Sood, Karen Lu, Amir Jazaeri Date: March 19-25, 2021 Time: 8:00 PM – 11:00 PM CT Session: TiP Poster Session “Results from the Phase 1b trial evaluating AVB-500 in PROC, for which new treatment options are urgently needed, are very encouraging in light of the improved progression free survival and duration of response, coupled with the tolerable safety profile,” said Reshma Rangwala, MD, PhD, Chief Medical Officer of Aravive. “We remain focused on advancing the ongoing pivotal Phase 3 trial of AVB-500 to address the unmet needs of patients with ovarian cancer.” For additional information, please visit the Society of Gynecologic Oncology Annual Meeting on Women’s Cancer website: www.sgo.org. About AVB-500 AVB-500 is a therapeutic recombinant fusion protein that has been shown to neutralize GAS6 activity by binding to GAS6 with very high affinity in preclinical models. In doing so, AVB-500 selectively inhibits the GAS6-AXL signaling pathway, which is upregulated in multiple cancer types including ovarian cancer and clear cell renal cancer. In preclinical studies, GAS6-AXL inhibition has shown anti-tumor activity in combination with a variety of anticancer therapies, including radiation therapy, immuno-oncology agents, and chemotherapeutic drugs that affect DNA replication and repair. Increased expression of AXL and GAS6 in tumors has been correlated with poor prognosis and decreased survival and has been implicated in therapeutic resistance to conventional chemotherapeutics and targeted therapies. AVB-500 is currently being evaluated in clinical trials and has been granted Fast Track Designation by the U.S. Food and Drug Administration in platinum resistant recurrent ovarian cancer. Analysis of all safety data to date showed that AVB-500 has been generally well-tolerated with no dose-limiting toxicities or unexpected safety signals. About Aravive Aravive, Inc. is a clinical-stage oncology company developing transformative therapeutics designed to halt the progression of life-threatening diseases. Aravive is based in Houston, Texas and received a Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) in 2016. Aravive’s lead product candidate, AVB-500, is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway associated with tumor cell growth. Aravive successfully completed a Phase 1b trial of AVB-500 in platinum resistant ovarian cancer and has initiated a registrational Phase 3 trial of AVB-500 at a dose of 15 mg/kg. While the Phase 1b trial of AVB-500 in platinum resistant ovarian cancer was a safety trial and not powered to demonstrate efficacy, all 5 patients in the 15 mg/kg cohort experienced clinical benefit, with 1 complete response, 2 partial responses, and 2 stable disease. For more information, please visit www.aravive.com. Forward-Looking StatementsThis communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions and includes statements regarding plans to advance the ongoing pivotal Phase 3 trial of AVB-500. Forward-looking statements are based on current beliefs and assumptions, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement as a result of various factors, including, but not limited to, risks and uncertainties related to: the Company’s ability to advance the ongoing pivotal Phase 3 trial of AVB-500, the impact of COVID-19 on the Company's clinical strategy, clinical trials, supply chain and fundraising, the Company's ability to expand development into additional oncology indications, the Company's dependence upon AVB-500, AVB-500's ability to have favorable results in clinical trials and ISTs, the clinical trials of AVB-500 having results that are as favorable as those of preclinical and clinical trials, the ability to receive regulatory approval, potential delays in the Company's clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients especially in light of the COVID-19 pandemic; the risk that AVB-500 may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that the Company may encounter difficulties in manufacturing AVB-500; if AVB-500 is approved, risks associated with its market acceptance, including pricing and reimbursement; potential difficulties enforcing the Company's intellectual property rights; the Company's reliance on its licensor of intellectual property and financing needs. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, recent Current Reports on Form 8-K and subsequent filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Contacts:Media:Sheryl Seapy, W2Osseapy@w2ogroup.com(213) 262-9390 Investors:Luke Heagle, W2Olheagle@w2ogroup.com(910) 726-1372

    • Aravive Announces First Patient Dosed in Phase 1b/2 Clinical Trial of AVB-500 in Patients with Clear Cell Renal Cell Carcinoma
      GlobeNewswire

      Aravive Announces First Patient Dosed in Phase 1b/2 Clinical Trial of AVB-500 in Patients with Clear Cell Renal Cell Carcinoma

      Lead Compound AVB-500 Now Being Evaluated in Broad Range of CancersHOUSTON, March 08, 2021 (GLOBE NEWSWIRE) -- Aravive, Inc. (Nasdaq: ARAV), a clinical-stage oncology company developing transformative therapeutics, today announced that the Company has dosed its first patient in an open label Phase 1b/2 clinical trial to evaluate the safety, pharmacokinetic, and preliminary clinical activity of AVB-500, including progression free survival. The trial will enroll patients with advanced clear cell renal cell carcinoma (ccRCC) that have progressed on front-line treatment. AVB-500 is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway associated with tumor cell growth and is currently being evaluated in clinical trials for the treatment of ovarian, kidney and urothelial cancer. “The preclinical data of AVB-500 in ccRCC suggest a great potential in treating this cancer without adding toxicity,” said Gail McIntyre, Ph.D., Chief Executive Officer of Aravive. “Given that there is a large unmet need for effective treatments in renal cell carcinoma, we look forward to advancing the development of AVB-500 to potentially improve outcomes for patients with renal cancer.” Kidney cancer is a leading cause of cancer-related deaths in the United States and is among the 10 most common cancers in both men and women. ccRCC is a cancer of the kidney and accounts for more than 75% of malignant kidney tumors. Metastasis to distant organs including the lung, bone, liver and brain is the primary cause of death in kidney cancer patients, and only 12% of people with metastatic kidney cancer will survive past 5 years. According to the American Cancer Society, it is estimated that there will be approximately 76,080 new cases of kidney cancer and 13,780 people will die from this disease in the United States during 2021. “AXL/GAS6 is associated with poor prognosis and resistance mechanisms in renal cell carcinoma. This trial will focus on safety and early efficacy signals of AVB-500 in combination with cabozantinib in patients who have progressed after front-line treatment of kidney cancer. This trial presents a unique opportunity to study a new therapeutic target in combination with cabozantinib,” said Kathryn Beckermann, M.D., Ph.D., Assistant Professor, Division of Hematology and Oncology, Vanderbilt University Medical Center and lead investigator for the trial. The Phase 1b portion of the trial will evaluate AVB-500 in combination with cabozantinib, a small molecule inhibitor of the tyrosine kinases c-Met and VEGFR2. The trial will enroll up to 18 patients in three dosing arms (15 mg/kg, 20 mg/kg and 25 mg/kg) to evaluate tolerability, pharmacokinetics, pharmacodynamics, and clinical activity. The controlled, randomized, open-label Phase 2 portion of the trial will enroll up to 45 patients and investigate the recommended AVB-500 dose identified during the Phase 1b portion of the trial in combination with cabozantinib versus cabozantinib alone. The primary endpoint of the Phase 2 portion of the trial is progression-free survival and the secondary endpoints are objective response rate, duration of response, clinical benefit rate and overall survival. The Phase 1b/2 trial is listed on clinicaltrials.gov NCT04300140. About AVB-500AVB-500 is a therapeutic recombinant fusion protein that has been shown to neutralize GAS6 activity by binding to GAS6 with very high affinity in preclinical models. In doing so, AVB-500 selectively inhibits the GAS6-AXL signaling pathway, which is upregulated in multiple cancer types including ovarian cancer and clear cell renal cancer. In preclinical studies, GAS6-AXL inhibition has shown anti-tumor activity in combination with a variety of anticancer therapies, including radiation therapy, immuno-oncology agents, and chemotherapeutic drugs that affect DNA replication and repair. Increased expression of AXL and GAS6 in tumors has been correlated with poor prognosis and decreased survival and has been implicated in therapeutic resistance to conventional chemotherapeutics and targeted therapies. AVB-500 is currently being evaluated in clinical trials and has been granted Fast Track Designation by the U.S. Food and Drug Administration in platinum resistant recurrent ovarian cancer. Analysis of all safety data to date showed that AVB-500 has been generally well-tolerated with no dose-limiting toxicities or unexpected safety signals. About AraviveAravive, Inc. is a clinical-stage oncology company developing transformative therapeutics designed to halt the progression of life-threatening diseases. Aravive is based in Houston, Texas and received a Product Development Award from the Cancer Prevention & Research Institute of Texas (CPRIT) in 2016. Aravive’s lead product candidate, AVB-500, is an ultra-high affinity decoy protein that targets the GAS6-AXL signaling pathway associated with tumor cell growth. Aravive successfully completed a Phase 1b trial of AVB-500 in platinum resistant ovarian cancer and is in the process of initiating a registrational Phase 3 trial of AVB-500 at a dose of 15 mg/kg. While the Phase 1b trial of AVB-500 in platinum resistant ovarian cancer was a safety trial and not powered to demonstrate efficacy, all 5 patients in the 15 mg/kg cohort experienced clinical benefit, with 1 complete response, 2 partial responses, and 2 stable disease. For more information, please visit www.aravive.com. Forward-Looking StatementsThis communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended), express or implied, such statements regarding the potential for AVB-500 to treat clear cell renal cell carcinoma without adding toxicity and advancing the development of AVB-500 to potentially improve outcomes for patients with renal cancer. Forward-looking statements are based on current beliefs and assumptions, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement as a result of various factors, including, but not limited to, risks and uncertainties related to: our ability to show the potential for AVB-500 to treat clear cell renal cell carcinoma without adding toxicity, our ability to advance the development of AVB-500 to potentially improve outcomes for patients with renal cancer, the Company's dependence upon AVB-500, AVB-500's ability to have favorable results in clinical trials and ISTs, the clinical trials of AVB-500 having results that are as favorable as those of preclinical and clinical trials, the ability to receive regulatory approval, potential delays in the Company's clinical trials due to regulatory requirements or difficulty identifying qualified investigators or enrolling patients especially in light of the COVID-19 pandemic, the risk that AVB-500 may cause serious side effects or have properties that delay or prevent regulatory approval or limit its commercial potential; the risk that the Company may encounter difficulties in manufacturing AVB-500, if AVB-500 is approved, risks associated with its market acceptance, including pricing and reimbursement, potential difficulties enforcing the Company's intellectual property rights, the Company's ability to expand development into additional oncology indications, and the Company's reliance on its licensor of intellectual property and financing needs. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, recent Current Reports on Form 8-K and subsequent filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Contacts:Media:Sheryl Seapy, W2Osseapy@w2ogroup.com(213) 262-9390 Investors:Luke Heagle, W2O lheagle@w2ogroup.com (910) 726-1372