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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 15, 2020
AVEO Pharmaceuticals, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware | 001-34655 | 04-3581650 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
30 Winter Street | ||
Boston, Massachusetts | 02108 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (857) 400-0101
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| ||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Common Stock, $0.001 par value |
AVEO | Nasdaq Capital Market | ||
| ||||
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Aveo Pharmaceuticals Inc.
Aveo Pharmaceuticals Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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Per the 2017 Loan Agreement, Hercules did not receive any additional warrants to purchase shares of our common stock and no longer has the option, subject to our written consent, to participate in our future equity financings up to $2.0 million through the purchase of our common stock either with cash or through the conversion of outstanding principal under the loan.
There can be no assurance that we will receive cash proceeds from any of these potential resources or to the extent cash proceeds are received such proceeds would be sufficient to support our current operating plan for more than the next twelve months from the date of filing this Quarterly Report on Form 10-Q.
We anticipate that interest expense will increase during the remainder of 2020 due to a higher principal balance and a higher interest rate of 9.65% in connection with the August 2020 Loan Amendment with Hercules, as described below.
Ficlatuzumab expenses remained flat at $0.2 million in the three months ended June 30, 2020 as compared to the three months ended June 30, 2019 and increased by $0.5 million, or 216%, in the six months ended June 30, 2020 as compared to the six months ended June 30, 2019.
AV-380 expenses increased by $0.6 million, or 423%, in the three months ended June 30, 2020 as compared to the three months ended June 30, 2019 principally due to pre-clinical development costs incurred in the second quarter of 2020 that were not incurred in the second quarter of 2019.
Under the terms of the...Read more
Pursuant to the 2016 Amendment,...Read more
In February 2018, we entered...Read more
We agreed to pay SVB...Read more
The 2016 Amendment included a...Read more
EUSA has reported to us...Read more
Our TIVO-3 trial is the...Read more
AV-380 expenses decreased by $1.1...Read more
Interest Expense, net (in thousands)...Read more
The financial covenant per the...Read more
Interest expense, net decreased by...Read more
In 2019, we raised approximately...Read more
The most common adverse event...Read more
We anticipate that research and...Read more
These expenses consist primarily of:...Read more
Under our license agreement with...Read more
In April 2019, we completed...Read more
As we approach our PDUFA...Read more
If we raise additional funds...Read more
General and Administrative Expenses (in...Read more
We are also required to...Read more
We received the initial $15.0...Read more
The 2017 Shelf (File No....Read more
On June 19, 2020, we...Read more
The net offering proceeds to...Read more
The net offering proceeds to...Read more
Research and Development Expenses (in...Read more
The PIPE Warrants are subject...Read more
The PIPE Warrants are subject...Read more
General and administrative expenses increased...Read more
We and Biodesix also funded...Read more
In connection with this repurchase,...Read more
The 2020 Loan Facility provides...Read more
The net offering proceeds to...Read more
If we are unable to...Read more
The probability of success for...Read more
We are preparing for the...Read more
In the fourth quarter of...Read more
In February 2019, we sold...Read more
Pursuant to the 2014 Amendment,...Read more
Material changes in these estimates...Read more
Tivozanib expenses increased by $1.2...Read more
Tivozanib expenses increased by $3.3...Read more
For more information, refer to...Read more
As a result of the...Read more
Upon exercise, the PIPE Warrants...Read more
As of August 10, 2020,...Read more
In May 2016, we entered...Read more
We believe that our as-adjusted...Read more
We have determined that the...Read more
On June 19, 2020, we...Read more
In 2020, we raised approximately...Read more
Three stockholders each beneficially holding...Read more
As of June 30, 2020,...Read more
As of June 30, 2020,...Read more
The outstanding principal balance as...Read more
The leadership of EUSA has...Read more
We believe that diverse backgrounds...Read more
Infrequent but severe adverse events...Read more
Development timelines, probability of success...Read more
In the paragraphs that follow,...Read more
Pursuant to our clinical supply...Read more
An ORR was observed in...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Aveo Pharmaceuticals Inc provided additional information to their SEC Filing as exhibits
Ticker: AVEO
CIK: 1325879
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-038899
Submitted to the SEC: Mon Aug 10 2020 4:02:08 PM EST
Accepted by the SEC: Mon Aug 10 2020
Period: Tuesday, June 30, 2020
Industry: Pharmaceutical Preparations