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On Monday, Piper Sandler transferred coverage of Acrivon Therapeutics Inc (NASDAQ:ACRV) with an Overweight rating and established a price target of $6.00, representing significant upside from the current price of $1.41. The stock, which InvestingPro analysis suggests is currently undervalued, has seen analyst targets ranging from $6 to $16. Acrivon Therapeutics, which specializes in precision medicine, has drawn attention with its AI/ML-driven AP3 platform designed to create drugs that target protein signaling changes.
The company is expected to release further Phase II data on ACR-368 for second-line a/rEC patients and will outline registration plans for OncoSignature+ patients later within the year. A potential New Drug Application (NDA) submission is anticipated in 2026. The AP3 platform has been pivotal in the rational design of ACR-2316, a dual WEE1/PKMYT1 inhibitor, which is currently undergoing a Phase I study.
A significant development was reported for ACR-2316 as a patient experienced a 23% reduction in tumor size at the first scan. Acrivon plans to announce Phase I study results in the second half of 2025. Beyond its current focus on cancer, the company’s AP3 platform is considered to have the potential for application in other diseases, which could lead to future partnerships.
Acrivon’s financial position remains robust, with the company concluding 2024 with $184.6 million in cash. This reserve is projected to support its operations well into 2027, providing a stable foundation for its ongoing research and development activities. The company also has an undisclosed preclinical cell cycle program, with expectations that AP3 will generate a development candidate within this year.
In other recent news, Acrivon Therapeutics reported significant updates on its financial and strategic developments. The company disclosed operating expenses of $25 million for the fourth quarter of 2024, with an earnings per share (EPS) of ($0.60), and a full-year EPS of ($2.43). Acrivon ended 2024 with $179.5 million in cash and equivalents, which is expected to support operations into 2027. H.C. Wainwright maintained a Buy rating on Acrivon, but adjusted its price target to $19.00, down from $22.00, following a strategic shift away from ovarian and bladder cancer treatments. Cantor Fitzgerald also reiterated an Overweight rating, noting the company’s focus on endometrial cancer and the potential for an accelerated approval pathway. JMP Securities kept its Market Outperform rating with a $17.00 price target, emphasizing the promise of Acrivon’s ACR-368 in metastatic endometrial cancer. Additionally, Acrivon appointed Dr. Mansoor Raza Mirza as the new chief medical officer to advance its cancer trials, particularly the ACR-368 Phase 2b trial. These developments underscore Acrivon’s strategic focus on endometrial cancer and its commitment to advancing its oncology pipeline.
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