Aravive, Inc.
aravive.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 9, 2023. Its latest SEC filing is a SC 13G/A from Feb 14, 2024.
10-Q for Q3 FY2023, filed Nov 9, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Develops batiraxcept, an investigational cancer drug being studied for ovarian, kidney and pancreatic cancers.
10-K for FY2022, filed Mar 15, 2023Aravive, Inc. (“Aravive” or the “Company”) was incorporated on December 10, 2008 in the State of Delaware. Aravive Biologics, Inc.…View ↗
Batiraxcept (formerly AVB-500), is an ultrahigh-affinity, decoy protein that targets the GAS6-AXL signaling pathway. By capturing serum…View ↗
During the first quarter 2021, we initiated our registrational Phase 3 trial of batiraxcept in PROC and we dosed our first patient in the…View ↗
In May 2021, we announced expansion of batiraxcept development programs into first line pancreatic ductal adenocarcinoma (“PDAC”) with the…View ↗
In January 2022, we announced that we had dosed the first patient in the Phase 2 portion of the Phase 1b/2 study of batiraxcept in…View ↗
How Did They Make Money?
Aravive earns money from 3D Medicines through a license and collaboration: upfront license fees are paid when rights transfer, while research funding and cost reimbursements pay for work as it is performed. It can also receive milestone payments when development or regulatory goals are reached and royalties or one-time payments tied to licensed-product sales.
10-K for FY2022, filed Mar 15, 2023The Company’s sole source of revenue for 2022 and 2021 has been generated through its collaboration and license agreement. The Company’s…View ↗
The Company generates revenue from licensing its intellectual property including know-how and development and commercialization rights. The…View ↗
The Company generates revenue from research and development services it provides to its customers and primarily includes clinical trials…View ↗
The Company’s contracts with customers primarily include two types of variable consideration: (i) development and regulatory milestone…View ↗
Product sales-based royalties under licensed intellectual property and one-time payments are accounted for under the royalty exception. The…View ↗
$9.1M
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10-K for FY2022, filed Mar 15, 2023
$9.1M ↗
Who Were Their Customers?
3D Medicines is the customer under a license and collaboration agreement, with rights to develop and commercialize batiraxcept products in China, Taiwan, Hong Kong and Macau.
10-K for FY2022, filed Mar 15, 2023
Did Revenues Turn Into Profits?
No. It lost $76.3M in FY2022.
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 9, 2023
$21.2MView ↗
- ▲ Now profitable
- vs −$15.7M in Q3 FY2022
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Jan 17, 2024
Approved asset transfer, dissolution and Nasdaq delisting
The board approved transferring substantially all assets to an assignee for creditors, approved dissolution, and terminated the CEO and CFO.
Sources
8-K, filed Jan 17, 2024
On January 12, 2024, the Board (i) determined that the transfer of all or substantially all of the Company’s assets through an assignment…View ↗
Grew. Revenue grew 6.7x in 4 years, from $1.4M in FY2018 to $9.1M in FY2022, about 61% a year.
Added pancreatic cancer
The older report focused on ovarian and kidney cancer and said it would pause its IgA nephropathy trial; the later report also describes a batiraxcept program for pancreatic cancer.
10-K for FY2019, filed Mar 27, 2020 10-K for FY2022, filed Mar 15, 2023In May 2021, we announced expansion of batiraxcept development programs into first line pancreatic ductal adenocarcinoma (“PDAC”) with the…View ↗
Who Did They Compete With?
Competes with Exelixis, BerGenBio, Astellas Pharma, Mirati Therapeutics, Les Laboratoires Servier, Eli Lilly, Bristol-Myers Squibb, Tolero Pharmaceuticals, and Ignyta
10-K for FY2022, filed Mar 15, 2023At this time, there are no FDA or EMA approved therapies targeting GAS6. We believe this mechanism of action represents a novel approach to…View ↗
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