Acrivon Therapeutics Reports $19.7 Million Net Loss in Q1 2025, Increases R&D Expenses

Acrivon Therapeutics, Inc. reported a net loss of $19.7 million for the first quarter of 2025, an increase from a net loss of $16.5 million during the same period in 2024. The company's total operating expenses rose to $21.7 million, up from $17.7 million year-over-year, primarily driven by increased research and development costs associated with its lead drug candidate, ACR-368, and the newly initiated clinical program for ACR-2316. Research and development expenses alone reached $15.4 million, compared to $11.5 million in the prior year, reflecting a $3.9 million increase attributed to clinical trial activities and personnel costs.

In terms of financial position, Acrivon reported total assets of $176.3 million as of March 31, 2025, down from $196.6 million at the end of 2024. The decrease was largely due to a reduction in cash and short-term investments, which fell from $179.5 million to $149.6 million. The company’s accumulated deficit also increased to $216.7 million, up from $197.0 million at the end of the previous fiscal year. Acrivon has not yet generated any revenue from drug sales and anticipates continued operating losses as it advances its clinical programs.

Strategically, Acrivon is focused on the development of precision oncology medicines, leveraging its proprietary Acrivon Predictive Precision Proteomics (AP3) platform. The company is currently advancing ACR-368, which has received Fast Track designation from the FDA for endometrial cancer treatment, and ACR-2316, which recently entered clinical trials. Acrivon has also established a companion diagnostic agreement with Akoya Biosciences to co-develop the ACR-368 OncoSignature test, which is designed to identify patients likely to respond to ACR-368.

Operationally, Acrivon has expanded its workforce, with a notable increase in research and development personnel contributing to the rise in expenses. The company reported a weighted average of 38.4 million shares outstanding for the quarter, reflecting an increase in share count due to stock options and restricted stock units. Acrivon expects its existing cash and investments, totaling $164.8 million, to fund operations into the second quarter of 2027, although it acknowledges the need for additional funding to support ongoing and future development activities.

Looking ahead, Acrivon remains committed to advancing its clinical trials and expanding its drug development pipeline. The company anticipates significant expenses related to research and development, regulatory approvals, and potential commercialization efforts. Acrivon’s management has indicated that while it has sufficient capital for the near term, it will need to secure additional funding to sustain its growth strategy and continue its operations effectively.