aveo pharmaceuticals inc (AVEO) Key Developments
AVEO Pharmaceuticals, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2014
Mar 6 15
AVEO Pharmaceuticals, Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported collaboration revenue of $0.115 million against $0.323 million a year ago. Loss from operations was $12.993 million against $16.069 million a year ago. Net loss was $13.894 million or $0.27 per basic and diluted share against $16.725 million or $0.32 per basic and diluted share a year ago.
For the year, the company reported collaboration revenue of $18.123 million against $1.293 million a year ago. Loss from operations was $50.449 million against $103.904 million a year ago. Net loss was $52.739 million or $1.01 per basic and diluted share against $107.029 million or $2.10 basic and per diluted share a year ago. The decrease in revenue was primarily due to recognition of an additional $13.7 million of previously deferred revenue as a result of the modification of the company’s arrangement with Biogen Idec. In addition, the company recognized an additional $3.1 million of collaboration revenue in connection with the change in the estimated period of performance associated with the company’s collaboration with Astellas as a result of the termination of the agreement in August 2014.
AVEO Oncology Announces Presentation of Phase 2 Study Analysis Showing Longer PFS with Tivozanib Compared to Bevacizumab in Low Serum NRP-1 Patients with Advanced CRC
Mar 6 15
AVEO Oncology announced the presentation of final results, including a predefined biomarker analysis, from the BATON- (Biomarker Assessment of Tivozanib in ONcology) CRC study, a randomized Phase 2 clinical trial of modified FOLFOX6 combined with tivozanib or bevacizumab in metastatic colorectal cancer (CRC). The presentation, titled â Neuropilin-1 as a potential biomarker of progression-free survival benefit for tivozanib + mFOLFOX6 versus bevacizumab + mFOLFOX6 in metastatic colorectal cancer: post-hoc biomarker analysis of BATON-CRC Phase 2 trial,â will be presented in a poster session at the American Association for Cancer Research (AACR) Tumor Angiogenesis and Vascular Normalization Conference, taking place March 5-8, 2015, in Orlando, FL. Tivozanib is an oral, potent, selective inhibitor of vascular endothelial growth factor (VEGF) with a long half-life and activity against all three VEGF receptors. The BATON-CRC study enrolled a total of 265 patients randomized 2 to 1 to receive tivozanib in combination with mFOLFOX6 (n=177) compared to bevacizumab and mFOLFOX6 (n=88) as first-line treatment in patients with advanced metastatic CRC. A key objective of the BATON-CRC study is the assessment of prospectively defined biomarkers that may be predictive of response in selected patient subpopulations. Among these, patients with low neuropilin-1 (NRP-1) showed an improved progression free survival (PFS) versus patients with high NRP-1 in both treatment arms, supporting the value of NRP-1 as a potential prognostic marker for angiogenesis inhibitors. Further, patients with serum NRP-1 levels below the median demonstrated longer PFS when treated with tivozanib (17.9 months, n=52), compared to bevacizumab (11.2 months, n=28) (HR=0.380, p=0.0075), suggesting NRP-1 may have potential as a predictive biomarker of tivozanib activity relative to bevacizumab. Patients with high serum NRP-1 had PFS of 7.3 months and 7.5 months for the tivozanib and bevacizumab arms, respectively. With only 21 deaths in the NRP-1 low group upon study termination, no conclusion could be reached in an analysis of overall survival.
AVEO Pharmaceuticals, Inc. - Special Call
Feb 27 15
To discuss presentation of final results and biomarker analysis from phase 2 study of tivozanib in patients with advanced colorectal cancer
Matthew Dallas, Vice President, Finance, Treasurer and the Principal Accounting Officer Leaves AVEO Pharmaceuticals, Inc., Effective February 6, 2015
Jan 23 15
On January 19, 2015, Matthew Dallas, Vice President, Finance, Treasurer and the principal accounting officer of AVEO Pharmaceuticals, Inc. announced that he will be leaving the company on February 6, 2015 to pursue a new career opportunity.
AVEO Oncology Appoints Michael N. Needle as Chief Medical Officer
Jan 9 15
AVEO Oncology announced the appointment of Michael N. Needle, M.D., to the position of Chief Medical Officer. In this role, Dr. Needle, a board certified hematologist/oncologist, will take a leadership role in evaluating clinical development strategies for advancement of the company’s partnered and proprietary pipeline programs. He will report to Michael Bailey, the company’s president and chief executive officer. He most recently served as the Chief Medical Officer of Array BioPharma.