Drug developer Aravive gets $6 mln in milestone payment; shares up
11/10/2022 16:07
** Shares of Aravive Inc ARAV.O up ~5% at 83 cents
** Drug developer said late on Monday that it received a $6
million development milestone payment from its licensee, 3D
Medicines Inc urn:newsml:reuters.com:*:nGNXcdNBs8
** Milestone is based on initiation of a late-stage trial in
China for development of Aravive's lead product candidate,
batiraxcept, in patients with high-grade serous ovarian cancer
** In total, ARAV has received $27 mln in development
milestones from 3D Medicines related to development of
batiraxcept for platinum resistant ovarian cancer in the United
States and China
** Aravive had $46.8 mln in cash and cash equivalents, as of
June 30
** Including session gains, stock down ~62% YTD
(Reporting by Raghav Mahobe)
((Raghav.Mahobe@thomsonreuters.com;))