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ArriVent BioPharma Reports Full Year 2023 Financial Results
Company progresses the development of furmonertinib with a data readout planned for 2024Furmonertinib granted Breakthrough Therapy Designation by the U.S.
About this update from Arrivent Biopharma, Inc.
[{"type":"text","content":"Company progresses the development of furmonertinib with a data readout planned for 2024Furmonertinib granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration Completed $201 million initial public offering (“IPO”) in January 2024 NEWTOWN SQUARE, Pa., March 28, 2024 (GLOBE NEWSWIRE) -- ArriVent BioPharma, Inc. (“Company” or “ArriVent”) (Nasdaq: AVBP), a clinical-stage company dedicated to accelerating the global development of innovative biopharmaceutical therapeutics, today reported financial results for the full year ended December 31, 2023, and highlighted recent company progress. “The fourth quarter was transformational for ArriVent, as we positioned our company for the successful IPO that we executed in January of this year and continued our strong progress with furmonertinib, which received Breakthrough Therapy Designation from the FDA,” said Bing Yao, Chairman and Chief Executive Officer of ArriVent. “Our company is well capitalized, with cash runway into 2026, and we have an experienced management team dedicated to strong pipeline execution. This year we look forward to providing an update on our Phase 1b FURTHER trial that includes EGFR mutant NSCLC patients with PACC mutations and advancing our Phase 3 FURVENT trial in frontline NSCLC with EGFR exon 20 insertion mutations as we continue our mission to identify and develop potentially transformative medicines to address the unmet medical needs of patients with cancer.” 2023 Highlights Furmonertinib Announced clinical development collaboration with InnoCare Pharma. In July 2023, ArriVent and Beijing InnoCare Pharma Tech Co., Ltd. (“InnoCare Pharma”) announced a clinical development collaboration investigating a novel Src Homology 2 domain containing protein tyrosine phosphatase (“SHP2”) allosteric inhibitor, ICP-189, in combination with furmonertinib in patients with advanced non-small cell lung cancer (“NSCLC”). Presented interim results from the Phase 1b, randomized, open-label, multi-center clinical study (FAVOUR), evaluating the efficacy and safety of furmonertinib in patients with locally advanced or metastatic NSCLC with epidermal growth factor receptor (“EGFR”) exon 20 insertion mutations. In September 2023, ArriVent and its partner, Shanghai Allist Pharmaceuticals Company, Ltd. (\"Allist”), presented interim Phase 1b results at the World C...