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Aveo Pharmaceuticals, Inc. (AVEO) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Aveo Pharmaceuticals Inc

CIK: 1325879 Ticker: AVEO
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AVEO Oncology Reports Full Year and Fourth Quarter 2021 Financial Results

– Total 2021 Net Revenue of $42.3 Million –

FOTIVDA® (tivozanib) U.S. Net Product Revenue of $38.9 Million since March 22, 2021 –

– FOTIVDA U.S. Net Product Revenue of $16.8 Million for 4Q 2021, Driven by a 26% Increase in Prescriptions Filled Compared to 3Q 2021 –

Full Year 2022 FOTIVDA U.S. Net Product Revenue Guidance of $100 to $110 Million

– Long-term data from pivotal TIVO-3 study presented at ASCO GU 2022 continue to demonstrate durable disease control and positive trend for overall survival for FOTIVDA –

– Company to Host Conference Call Today at 8:30 a.m. ET –

BOSTON – March 14, 2022 – AVEO Oncology (Nasdaq: AVEO), a commercial stage, oncology-focused biopharmaceutical company, today reported financial results for the fourth quarter and full year ended December 31, 2021, and provided financial guidance for 2022.

“We have seen quarter over quarter growth in FOTIVDA® (tivozanib) sales since its commercial launch on March 22, 2021, including closing the year with U.S. net product revenue of $38.9 million for 2021 and $16.8 million of U.S. net product revenue in the fourth quarter of 2021. As we look to 2022, we expect to build on our commercial momentum by continuing to expand our prescriber base and increase the utilization of FOTIVDA in the third-line setting. We believe we made significant progress on both fronts in 2021 and look to build on this momentum in 2022,” said Michael Bailey, President and Chief Executive Officer of AVEO. “In addition to our commercial team's educational and awareness initiatives, we believe the long-term progression free survival (PFS) data presented last month at the 2022 American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO GU) further support the durability of disease control demonstrated by FOTIVDA in the third- and fourth-line treatment setting. This marks the first presentation of five year follow-up data for patients being treated in this setting and helps guide clinical treatment. As we look ahead to 2022 and beyond, we remain confident that FOTIVDA has the potential to become a standard of care for adult patients with relapsed or refractory (R/R) advanced renal cell carcinoma (RCC) that have received two or more prior systemic treatments.”

“Our clinical team continues to make steady progress with expanding the opportunities for FOTIVDA in an effort to move to earlier settings in combinations with novel therapies as well as advancing our pipeline of monoclonal antibodies that collectively we believe will build long-term value for our shareholders.”

Fourth Quarter 2021 and Recent Highlights

Ended 2021 with quarter over quarter growth of FOTIVDA net sales and prescriptions heading into 2022
Fourth quarter 2021 U.S. net product revenue increased 17% from $14.3 million U.S. net product revenue in the third quarter of 2021 to $16.8 million, which reflects inventory shipped to distributors and a gross-to-net estimate of 14% during the fourth quarter. As of


The following information was filed by Aveo Pharmaceuticals Inc (AVEO) on Monday, March 14, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Basis Of Presentation
Collaborations And License Agreements
Collaborations And License Agreements (Tables)
Collaborations And License Agreements - Additional Information (Details)
Collaborations And License Agreements - Summary Of Changes In Accounts Receivable And Contract Liabilities (Deferred Revenue) (Details)
Commitment And Contingencies
Commitment And Contingencies (Details)
Common Stock
Common Stock (Details)
Employee Benefit Plan
Employee Benefit Plan (Details)
Hercules Loan Facility
Hercules Loan Facility (Tables)
Hercules Loan Facility - Additional Information (Details)
Hercules Loan Facility - Future Minimum Payments Under Loans Payable (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Income Tax (Details)
Income Taxes - Reconciliation Of Uncertain Tax Positions (Details)
Legal Proceedings
Organization
Organization (Details)
Other Accrued Liabilities
Other Accrued Liabilities (Details)
Other Accrued Liabilities (Tables)
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) (Details)
Quarterly Results (Unaudited) (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Key Assumptions Used To Value The Warrants (Details)
Significant Accounting Policies - Schedule Of Collaborative Revenues Under Collaboration Agreement (Details)
Significant Accounting Policies - Schedule Of Provision On Discounts And Allowances By Category (Details)
Significant Accounting Policies - Stock Based Compensation Expense For Equity-Classified Awards (Details)
Significant Accounting Policies - Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Significant Accounting Policies - Summary Of Cash, Cash Equivalents And Marketable Securities (Details)
Significant Accounting Policies - Summary Of Computation Of Basic And Diluted Net Loss Per Share (Details)
Significant Accounting Policies - Summary Of Fair Value Of Company's Warrant Liability (Details)
Significant Accounting Policies - Summary Of Net Product Revenues Earned (Details)
Significant Accounting Policies - Summary Of Outstanding Securities Not Included In Computation Of Diluted Net Loss Per Common Share (Details)
Significant Accounting Policies - Summary Of Percentage Of Total Product Revenues (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Assumptions Used In Black Scholes Pricing Model For New Grants (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Ticker: AVEO
CIK: 1325879
Form Type: 10-K Annual Report
Accession Number: 0001628280-22-006093
Submitted to the SEC: Mon Mar 14 2022 5:04:39 PM EST
Accepted by the SEC: Mon Mar 14 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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