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News Breaks
December 3, 2012
06:33 EDTAVEOAveo, Astellas announce initiation of patient enrollment in tivozanib trial
AVEO Oncology and Astellas Pharma announced the initiation of patient enrollment in a randomized, double-blind, multicenter Phase 2 clinical trial, called BATON-BC, evaluating the efficacy of tivozanib, an investigational drug, in combination with paclitaxel compared to placebo in combination with paclitaxel in patients with locally recurrent or metastatic triple negative breast cancer who have received no prior systemic therapy for advanced or metastatic breast cancer. Triple negative breast cancer was selected for tivozanib clinical evaluation because of high unmet need and insights gained from AVEO's Human Response PlatformTM indicating that these tumors are enriched for a signature of VEGF pathway deregulation similar to that seen in renal cell carcinoma.
News For AVEO From The Last 14 Days
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September 29, 2014
06:47 EDTAVEOAveo Pharmaceuticals announces results from Phase 2 studies of tivozanib
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06:02 EDTAVEOAveo, Biodesix announce exploratory analysis of patients in ficlatuzumab study
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September 26, 2014
11:01 EDTAVEOAveo presents AV-380 preclinical data
AVEO announced the presentation of results from four preclinical studies of AV-380, the company’s potent, humanized inhibitory antibody targeting growth differentiation factor 15, or GDF15, in various in vivo cachexia models and in vitro assays at the 2nd Cancer Cachexia Conference, being held September 26-28. In addition to the poster presentations, the AVEO research was selected for presentation in an oral session titled “Targeting GDF15 with the inhibitory antibody AV-380 for the treatment of Cancer Cachexia.” The company said, "We have also demonstrated that the combination of AV-380 dramatically prolonged survival compared to mice treated with anti-cancer therapy alone. We look forward to building on these discoveries as we progress AV-380 toward clinical study, expected to begin in 2H15.”
07:02 EDTAVEOAveo announces lease termination, amendment to debt financing facility
AveoOncology announced that, as part of its plan to decrease operational expenses, the company has entered into a termination of its lease agreement pertaining to the company’s headquarters in Cambridge, Massachusetts, reducing its existing lease obligations by $110M. In addition, the company has amended its debt financing facility with Hercules Technology Growth Capital. Combined, these transactions do not impact the company’s prior financial guidance, with existing cash, cash equivalents and marketable securities providing resources to fund its operating plan into the fourth quarter of 2015 with an expected 2014 year-end cash balance of $50M-$55M. Under the terms of its amended lease agreement with BMR-650 E Kendall B LLC, AVEO will terminate its long term lease dated May 9, 2012, in exchange for a termination fee of approximately $7.8M due upon execution of the agreement, and $7.8M payable over the subsequent nine months. AVEO will immediately vacate the unused portions of its premises at 650 East Kendall St. and will exit the remaining occupied portions of its premises within twelve months. Pursuant to its amended loan agreement with HTGC, AVEO has received a new $10M loan, which is in addition to an outstanding principal of $11.6M from an existing loan agreement. The new loan carries an interest only repayment period of twelve months, with the ability to extend such period for up to an additional twelve months based on the achievement of certain milestones, and has a maturity date of January 1, 2018. The existing loan carries an interest only period of three months, and is expected to be fully repaid by December 2015. In conjunction with the new loan, the company has issued a warrant to purchase an aggregate of 608,696 shares of AVEO’s common stock, at a price of $1.15 per share.

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