NEWTOWN SQUARE, PA — ArriVent BioPharma, Inc. (Nasdaq: AVBP) has announced its financial results for the third quarter of 2024, alongside significant progress in its lead program for firmonertinib, a treatment for non-small cell lung cancer (NSCLC). The company is advancing with promising data for firmonertinib, particularly in patients with challenging EGFR mutations.
Bing Yao, Chairman and CEO, noted the promising results from the FURTHER study, which highlighted firmonertinib’s robust anti-tumor activity in NSCLC, especially in patients with EGFR PACC mutations and CNS metastases. “The broad activity in EGFR PACC mutations and the high responses in the CNS reinforce the promise firmonertinib holds,” Yao stated, emphasizing the drug’s potential to address unmet needs in NSCLC treatment.
Looking ahead, ArriVent is gearing up for several significant milestones. The company plans to initiate a dose expansion for its combination study with SHP2 inhibitor ICP-189 in the fourth quarter. Additionally, an update on the Phase 1b PACC study and plans for a potential registration study are expected in the first half of 2025. ArriVent also anticipates topline pivotal data from the Phase 3 FURVENT study in 2025, aiming to solidify firmonertinib’s role in treating EGFR exon 20 mutant NSCLC.
Financially, ArriVent reported cash and cash equivalents of $282.9 million as of September 30, 2024, sufficient to fund operations into 2026. The company recorded research and development expenses of $58.9 million for the first nine months of 2024, reflecting increased clinical activity for firmonertinib. General and administrative expenses rose to $11.8 million, largely due to public company operational expansions.
Yao expressed confidence in the company’s trajectory, stating, “With our strong balance sheet and operating runway into 2026, we are well-positioned to execute across our near-term catalysts.” As ArriVent continues to develop firmonertinib and explore new therapeutic approaches, it remains committed to advancing treatments for patients with complex lung cancer profiles.
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