CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Oncology (NASDAQ:AVEO) today reported financial results for the first quarter ended March 31, 2017, and provided a business update.
“We strengthened our balance sheet in the first quarter through an underwritten public offering, giving us the resources to potentially fund operations through the readout of our pivotal, Phase 3 TIVO-3 study of tivozanib in renal cell cancer (RCC), expected in the first quarter of 2018,” said Michael Bailey, president and chief executive officer of AVEO. “TIVO-3, which is designed to serve as the basis for a potential U.S. registration of tivozanib as a first- and third-line treatment for RCC, remains on track to complete enrollment and a pre-planned interim futility analysis in June of this year. We also look forward to several other potential key milestones this year, including completion of the Phase 1 portion of the Phase 1/2 TiNivo trial a tivozanib-nivolumab combination study in RCC, a regulatory decision in Europe for marketing approval of tivozanib as a first line treatment for RCC, and notable progress in our pipeline programs.”
