AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) closed Tuesday’s trading session at $0.64, days after it announced tivozanib’s Phase 3 TIVO-3 study data presented at this year’s ASCO Genitourinary Cancers Symposium.

Phase 3 TIVO-3 clinical study was designed to evaluate Tivozanib as a treatment for metastatic or advanced renal cell carcinoma (RCC), and its performance has been compared to sorafenib. Brian Rini, a Medicine professor at the Western Reserve University’s Cleveland Clinic Lerner College of Medicine, presented the data. The oral presentation was titled “TIVO-3: A Phase 3, Randomized, Controlled, Multi-Center, Open-Label Study to Compare Tivozanib to Sorafenib in Subjects with Refractory Advanced Renal Cell Carcinoma (RCC).”

The data was presented at the 2019 American Society of Clinical Oncology (ASCO) Genitourinary (GU) conference focusing on cancer. The event was scheduled to take place from February 14 to February 16 this year in San Francisco. Aveo will publish a copy of the presentation on its website in the Publications & Presentation page.

“Tivozanib continues to demonstrate a unique activity and tolerability profile among VEGF TKIs in the treatment of kidney cancer,” stated Dr. Rini.

Aveo hopes the clinical trial results will pave the way for regulatory approval

Dr. Rini also noted that TIVO-3 study patients experienced progression-free survival and an impressive response rate especially compared to sorafenib’s performance. He also noted that he looks forward to seeing how the observed improvements will influence overall survival. Aveo CEO Michael Bailey also stated that Aveo would remain committed to achieving its goals of facilitating a better patient experience and a better outcome.

Bailey also pointed out that there were noteworthy improvements observed in the TIVO-3 study, especially in patients that have previously received other therapies for the condition. The company hopes that the positive PFS results will lead to a better survivor-hazard ratio once the company reveals more mature interim results in Q4 2019. The company also plans to file for a New Drug Application (NDA) in case the study yields more mature OS outcomes. Aveo hopes that the treatment will receive regulatory approval so that it can be made available in the market to offer relief to RCC patients.

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