Acrivon Therapeutics, Inc. Q1 2026 earnings summary — revenue, EPS & margin

What went well

Advanced the registrational-intent Phase 2b ACR-368 study toward key 2026 catalysts, with both biopsy-independent serous endometrial cancer arms (Arm 3 with ultra-low-dose gemcitabine and the newly initiated single-agent Arm 4) enrolling and a prespecified simultaneous interim analysis of both arms planned for the second half of 2026.
Advanced ACR-2316 toward its Phase 1 expansion phase with favorable tolerability (primarily transient neutropenia) and durable clinical activity at weekly dosing, including in heavily pretreated lung cancers.
Presented AP3-based data at AACR supporting ACR-368 and ACR-2316 combinations with checkpoint inhibitors, and continued IND-enabling work on the CDK11 candidate ACR-6840.
Held $97.7 million in cash, equivalents and marketable securities as of March 31, 2026, plus $7.3 million from a subsequent equity financing, extending the runway into the third quarter of 2027.

What went wrong

Cash, equivalents and marketable securities declined to $97.7 million from $118.6 million at year-end 2025 as the company funded operations, dipping below $100 million.
The company remained pre-revenue with a net loss of $19.0 million for the quarter as it invested ahead of its 2026 clinical readouts.

Guidance Changes

Metric	Period	Current guidance
Cash runway	As of March 31, 2026	$97.7M plus $7.3M subsequent equity financing; funds operations into Q3 2027 (extended from Q2 2027)
ACR-368 simultaneous interim analysis (Arms 3 & 4)	H2 2026	Prespecified simultaneous interim analysis and data update from both all-comer serous EC arms expected
ACR-368 Phase 3 confirmatory readiness	Mid-2026	Readiness for a Phase 3 confirmatory trial (ACR-368 with PD-1 therapy) targeted by mid-2026
ACR-368 Arm 3 or Arm 4 enrollment complete	Q4 2026	Complete enrollment of the registrational-intent serous EC arm by Q4 2026, based on interim data
ACR-6840 (CDK11) IND filing	H1 2027	IND submission to the FDA for ACR-6840 or an alternative CDK11 candidate targeted for the first half of 2027

Metric	YoY	Note
Research & development expense	$15.2M (vs $15.4M)	Materially consistent year over year.
General & administrative expense	$4.7M (vs $6.2M)	Lower employee-related expenses, including stock-based compensation.
Net loss	$19.0M (vs $19.7M)	Slightly lower operating expenses; loss from operations of $19.9M partly offset by $1.0M interest income.
Cash, equivalents & marketable securities	$97.7M	As of March 31, 2026, plus $7.3M subsequent equity financing; funds operations into Q3 2027.
Diluted net loss per share	$(0.49)	On 38.7M weighted-average shares outstanding.

Topic	Previous mention	Current period	Trend
ACR-368 in serous endometrial cancer	Arm 4 announced; 52% cORR in serous EC	Arm 4 initiated and dosing; simultaneous Arm 3/Arm 4 interim analysis planned H2 2026	Up
ACR-2316 Phase 1/2	Initial data in lung cancers	Advancing toward expansion with durable activity at weekly dosing	Up
Cash runway	$118.6M into Q2 2027	$97.7M (+$7.3M) into Q3 2027	Up