Piper Sandler assumed coverage of Acrivon Therapeutics (ACRV) with an Overweight rating with a price target of $6, down from $30. Acrivon’s AP3 platform is an AI/ML-driven phosphoproteomics discovery engine to design precision medicines based on changes to protein signaling. Acrivon will report more Phase II ACR-368 data on 2nd-line a/rEC patients and provide registration plans for OncoSignature+ patients later this year with a potential NDA in 2026. While initially focused on cancer, AP3 can be applied to other diseases offering future partnering opportunities, the firm notes. Acrivon ended 2024 with cash of $184.6M, which should fund operations into 2027.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACRV:
- Biotech Alert: Searches spiking for these stocks today
- Acrivon Therapeutics to present data from analyses of ACR-2316 at AACR
- Acrivon Therapeutics Reports Progress in Cancer Drug Development
- Acrivon Therapeutics Appoints New Chief Medical Officer
- Acrivon appoints Mansoor Raza Mirza as Chief Medical Officer