Aravive Inc. (ARAV) shares were rising in the premarket trading session, as at the last check the share price of ARAV stock had increased by 25.94% to $6.70. ARAV stock had gained 0.95% while previously closing the trading session at $5.32. The ARAV stock volume traded 0.17 million shares, which was higher than the three-month average volume of 155.29K shares within the past 90 days. In the past year up to date, ARAV stock shed -62.85%, and in the past week however, it moved up by 2.11%. In the past three and six months, the stock went down by -21.88% and shed -15.42% respectively. Furthermore, Aravive Inc. is currently valued in the market at $108.42 million and has 18.07 million outstanding shares.
What you need to know about Aravive Inc.
Aravive Inc. is a clinical stage biopharmaceutical company that specifically focuses on discovering and designing treatments for unmet needs of doctors and patients with life-threatening diseases. The company specifically produces treatments designed to halt life-threatening diseases which includes their lead candidate product for the treatment of platinum0resistant recurrent ovarian cancer. This candidate is known as AVB-500 which is a decoy of protein for GAS6-AXL signaling pathway targeting. AVB-500 is in the phase Ib/II of a clinical trial for the ovarian cancer study as well as treatment of negative breast, uterine, pancreatic, lung, urothelial cancers and renal cell carcinoma.
Another candidate for the blocking of activation of GAS6-AXL signaling pathway is known as AVB-S6 which is a soluble FC fucion protein. ARAV stock has partnered with WuXI Biologics in a strategic collaboration agreement for the development of high-affinity bispecfic antibodies that target fibrosis in patients as well as cancer. The company also partnered with 3D Medicines Inc. in a license agreement for the production of the sole drug substance for the treatment of human oncological diseases in mainland China as well as Hong Kong, Taiwan, and Macau.
The company was previously registered as Versartis Inc. until October 2019 and is established in Houstan, Texas.
Positive results with no unexpected finding in the AVB-500 Phase 1b trial
The AVB-500 had underwent the phase1b/2 study and has recently announced that the phase 1b portion has its results arrived. The results showcase a positive initial interim data the details of which specify the combination of 15mg/kg of AVB-500 dosage with cabozantinib for patients that have advanced stage kidney cancer or otherwise termed as clear cell renal cell carcinoma. The study showcases that AVB-500 had no adverse effects intolerable for the three evaluable patients under observation and have found no unexpected findings.
The next step of the company is to expand the dosing by registering three more patients for the evaluation of potential of initiating the phase 2 portion of this study. To be further sure, the company will also administer higher doses of AVB-500 for Phase 1b to ensure expected results and reduce deviations from favorable results.