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Investing.com - ArriVent BioPharma (NASDAQ:AVBP) maintained its Outperform rating from Oppenheimer, which reiterated its $44.00 price target on the stock. According to InvestingPro data, analyst consensus remains strongly bullish with targets ranging from $33 to $45, despite the stock currently trading above its Fair Value estimate.
The company announced Monday that top-line results for its pivotal FURVENT study of firmonertinib in first-line EGFR Exon20ins non-small cell lung cancer (NSCLC) are now expected in early 2026, revised from the previous broader guidance of "2025." While the company maintains a strong financial position with more cash than debt and a healthy current ratio of 14.3x, InvestingPro analysis indicates the company is not yet profitable, with analysts expecting continued losses in 2025.
The Phase 3 FURVENT study was fully enrolled in the first quarter of 2025 with 398 patients from global sites. The trial evaluates 160mg and 240mg daily doses of firmonertinib versus chemotherapy, with progression-free survival by blinded independent central review as the primary endpoint. With the next earnings report due on August 13, investors can access detailed financial analysis and 6 additional exclusive ProTips through InvestingPro.
Oppenheimer noted that the extended timeline for the event-driven study reinforces their confidence that firmonertinib’s median progression-free survival could match or exceed that of amivantamab, which has shown a progression-free survival of 11.4 months according to its label.
Previous data presented at the World Conference on Lung Cancer 2023 showed firmonertinib achieved a 79% objective response rate (22 of 28 patients) and 15.2-month duration of response in the 240mg cohort of the Phase 1b FAVOUR study in this patient population.
In other recent news, ArriVent BioPharma has announced plans for a $75 million public offering of common stock and pre-funded warrants. The proceeds are intended to support the development of firmonertinib and other pipeline programs. The company’s ongoing Phase 3 FURVENT study of firmonertinib in non-small cell lung cancer (NSCLC) is expected to yield topline data in early 2026. This trial is significant as it targets EGFR exon20 insertion mutations and has received FDA Breakthrough Therapy and Orphan Drug Designations. Goldman Sachs has resumed coverage of ArriVent with a Buy rating, citing a high probability of competitive clinical efficacy in the FURVENT trial. Clear Street also maintains a Buy rating, noting the limited impact of a competitor’s recent drug approval on ArriVent’s market position. Meanwhile, H.C. Wainwright has reiterated its Buy rating following strong data from the Phase 1b FURTHER trial, highlighting firmonertinib’s efficacy in NSCLC patients with EGFR PACC mutations. These developments reflect ArriVent’s strategic focus on advancing its cancer treatment pipeline.
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