From GlobeNewswire: 2024-05-08 08:00:00

ArriVent BioPharma presented preclinical data on firmonertinib at the 2024 AACR Annual Meeting. They also dosed the first patient in a Phase 1b combination study of firmonertinib and ICP-189 for NSCLC with EGFR mutations. The company reported a strong financial position, with $317.4 million in cash as of March 31, 2024. With proof-of-concept data expected in 2024, ArriVent is pushing forward in advancing innovative biopharmaceutical therapeutics, like firmonertinib, to address unmet medical needs in cancer treatment. Their ongoing clinical trials and partnerships reflect a commitment to providing important new treatment options for cancer patients. In addition, the appointment of Kristine Peterson as a new board member adds valuable leadership experience to the company. ArriVent’s financial results show increased expenses in research and development, as well as general and administrative areas, as they continue to build infrastructure and expand operations as a public company.

ArriVent’s lead development candidate, firmonertinib, is a highly selective EGFR inhibitor that has shown promise in preclinical studies across a range of EGFR mutations, including exon 20 insertion and PACC mutations. The company has initiated a Phase 1b combination study of firmonertinib with ICP-189, a SHP2 inhibitor, to target NSCLC patients with EGFR classical mutations. With cash and cash equivalents of $317.4 million as of March 31, 2024, ArriVent is well-positioned to fund its operations into 2026. The company looks forward to upcoming milestones, such as proof-of-concept data and the selection of an ADC development candidate, as they work to address the unmet medical needs of cancer patients, specifically in the realm of NSCLC with EGFR mutations like PACC and exon 20 insertion mutations.



Read more at GlobeNewswire:: ArriVent BioPharma Reports First Quarter 2024 Financial