What went well
  • Continued advancing both clinical-stage assets, with ACR-368 progressing in its registrational-intent Phase 2b endometrial cancer study and ACR-2316 showing initial clinical activity, including an ongoing confirmed partial response in endometrial cancer, during Phase 1 dose escalation.
  • Initiated a third arm of the ACR-368 Phase 2b study that removes the need for a pre-treatment biopsy, evaluating ACR-368 with ultra-low-dose gemcitabine as a tumor sensitizer in all-comer, biomarker-unselected second-line endometrial cancer patients.
  • Held cash, cash equivalents and marketable securities of $147.6 million as of June 30, 2025, expected to fund operations into the second quarter of 2027.
What went wrong
  • Net loss widened to $21.0 million from $18.8 million a year earlier as research and development spending rose to $16.2 million (from $15.0 million) on increased clinical and preclinical activity.
  • As a pre-revenue clinical-stage company, Acrivon continued to fund substantial operating losses entirely from its balance sheet, with no product revenue.

Guidance Changes

MetricPeriodCurrent guidance
Cash runwayAs of June 30, 2025$147.6M in cash, equivalents and marketable securities; funds operations into Q2 2027
ACR-368 registrational-intent / confirmatory trial designH2 2025Update expected in the second half of 2025
ACR-2316 Phase 1 initial dataH2 2025Initial clinical data expected in the second half of 2025

Performance Breakdown

MetricYoYNote
Research & development expense $16.2M (vs $15.0M) Increased personnel to support ACR-368 and ACR-2316 clinical trials and preclinical drug discovery.
General & administrative expense $6.5M (vs $6.4M) Materially consistent year over year.
Net loss $21.0M (vs $18.8M) Higher R&D spend; loss from operations of $22.6M partly offset by $1.7M interest income.
Cash, equivalents & marketable securities $147.6M As of June 30, 2025; funds operations into Q2 2027.
Diluted net loss per share $(0.55) On 38.5M weighted-average shares outstanding.

Earnings Call Themes & Trends

TopicPrevious mentionCurrent periodTrend
ACR-368 in endometrial cancerRegistrational-intent Phase 2b underwayAdded Arm 3 (ACR-368 + ULDG, biopsy-independent all-comers)Up
ACR-2316 Phase 1Dose escalation ongoingNo DLTs in three cleared dose levels; confirmed PR in endometrial cancerUp
Cash runway$147.6M into Q2 2027Steady

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