Acrivon Therapeutics (ACRV) Q4 2025 earnings summary

Executive summary

• Achieved a confirmed overall response rate (CORR) of 52% in serous endometrial cancer (EC) in the ongoing Phase 2b ACR-368 study, addressing a high unmet need subtype responsible for ~50% of EC mortality.

• Presented strong ACR-368 data at ESGO 2026, with positive feedback from key opinion leaders and plans to expand the study with additional arms for broader patient inclusion.

• Initial Phase 1 data for ACR-2316 showed favorable tolerability and promising activity, especially in heavily pre-treated lung cancer subjects.

• Cash, cash equivalents, and marketable securities totaled $118.6 million as of December 31, 2025, expected to fund operations into Q2 2027.

Financial highlights

• Net loss for Q4 2025 was $19.0 million, and for the full year 2025 was $77.9 million, compared to $22.8 million and $80.6 million for the same periods in 2024.

• Research and development expenses were $14.7 million for Q4 2025 and $60.0 million for FY 2025, down from $18.6 million and $64.0 million in 2024, mainly due to fewer milestones and prioritization of EC trials.

• General and administrative expenses were $5.4 million for Q4 2025 and $24.1 million for FY 2025, down from $6.3 million and $25.2 million in 2024, primarily due to lower personnel costs.

• Interest income for FY 2025 was $6.5 million, offsetting some operating losses.

Outlook and guidance

• Arm 3 (ACR-368 + ultra low-dose gemcitabine) in all-comer serous EC subjects is actively enrolling in the US, with EU expansion planned by end of Q1 2026.

• Arm 4 (ACR-368 monotherapy) to initiate in H1 2026 for biomarker-unselected serous EC subjects.

• Phase 3 confirmatory trial readiness for ACR-368 in combination with PD-1 therapy targeted by mid-2026.

• Additional ACR-2316 Phase 1 data and IND filing for ACR-6840 expected in 2026.