Acrivon Therapeutics

Acrivon appoints Dr. Michaela Levin effective immediately as chief business officer. Levin will lead business development and partnerships for the AP3 platform and the pipeline, bringing experience from roles at Recursion, Editas Medicine, Ovid Therapeutics and Constellation Pharmaceuticals. As part of the hiring, Acrivon approved incentive awards of 130,000 stock options and 30,000 restricted stock units with customary vesting conditions. » More on de.investing.com

Acrivon has moved ACR-2316 into the randomized dose-expansion phase of its phase 1/2 study and selected 120 mg and 160 mg for further evaluation, given orally once daily on a three-days-on, four-days-off schedule. The decision follows a dose-escalation in 35 participants (30–240 mg), in which a partial response and a disease control rate of 86% were observed among seven lung cancer patients who continued treatment. No treatment-related grade 4 events occurred at the selected doses; grade 3 events were mainly transient hematologic toxicities such as neutropenia. The expansion phase will test ACR-2316 across various lung and non-lung tumor types, randomized 1:1 and dosed according to FDA Optimus principles; ACR-2316 is a WEE1/PKMYT1 inhibitor. » More on de.investing.com

Shareholders of Acrivon Therapeutics approved an increase in the equity incentive plan by 3,000,000 shares to a total of 8,606,723 shares and voted for an automatic annual reserve increase of up to 5% of the fully diluted shares through 2032. The expanded plan permits various equity-based awards for employees, directors and consultants. Michael Tomsicek and Charles Baum were elected as directors, and PricewaterhouseCoopers was confirmed as the independent auditor. Acrivon continues to exhibit cash burn with a market capitalization of $63.77 million, while early study results for ACR-368 (ORR 52%) prompted positive analyst reactions. » More on de.investing.com