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Aveo Pharmaceuticals, Inc. (AVEO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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AVEO Quarterly Reports

Aveo Pharmaceuticals Inc

CIK: 1325879 Ticker: AVEO
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AVEO Oncology Reports First Quarter 2022 Financial Results

– Total Q1 2022 Net Revenue of $20.9 Million including $20.1 Million of
FOTIVDA® (tivozanib) U.S. Net Product Revenue

– Q1 2022 FOTIVDA Prescriptions Increased by 25% Compared With Q4 2021 –

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

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

BOSTON – May 5, 2022 – AVEO Oncology (Nasdaq: AVEO), a commercial stage, oncology-focused biopharmaceutical company, today reported financial results for the first quarter ended March 31, 2022.

“We recently celebrated the one-year anniversary of our U.S. commercial launch of FOTIVDA® (tivozanib). During the first quarter of 2022, we reported that, based on third party data, FOTIVDA had taken the leadership position in new patient starts for our targeted third-line relapsed or refractory advanced (R/R) renal cell carcinoma (RCC) population. This is a tremendous accomplishment, which we view as a leading indicator of progress towards our goal of becoming the overall market share leader and standard of care in the third-line R/R RCC setting, which we believe would in turn drive our continued growth. Based on what we have seen and heard to date, we continue to feel confident about our $100 million to $110 million full year 2022 FOTIVDA U.S. net product revenue guidance,” stated Michael Bailey, President and Chief Executive Officer of AVEO. “In addition, with our Phase 3 TiNivo-2 trial evaluating tivozanib in combination with nivolumab underway, we are seeking to generate data to support regulatory approval of tivozanib (combined with nivolumab) in the larger second line R/R RCC market following prior immune checkpoint inhibitor therapy.”

“Our team also continues to advance our pipeline of monoclonal antibodies. Collectively, we believe our commercial and clinical development activities offer exciting opportunities to improve patient care while also building long-term value for our shareholders,” said Mr. Bailey.

First Quarter 2022 and Recent Highlights

Continued quarter over quarter growth of FOTIVDA U.S. net product revenue and prescriptions in Q1 2022.
First quarter 2022 U.S. net product revenue increased 20% to $20.1 million compared with U.S. net product revenue of $16.8 million in the fourth quarter of 2021, which reflects inventory shipped to distributors during the quarter and a gross-to-net estimate of 18.5% during the first quarter of 2022.
977 commercial prescriptions filled in the first quarter of 2022, representing a 25% increase from 780 commercial prescriptions filled in the fourth quarter of 2021.
FOTIVDA, based on third party data, has continued to hold its leadership position in the share of new patients starts in third-line R/R RCC for the first quarter. AVEO views new patient share starts as an important leading indicator of progress toward its objective to become the overall market share leader and the standard of care in the third-line R/R RCC setting.


The following information was filed by Aveo Pharmaceuticals Inc (AVEO) on Thursday, May 5, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Aveo Pharmaceuticals Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders??? Equity
Condensed Consolidated Statements Of Stockholders??? Equity (Parenthetical)
Basis Of Presentation
Collaborations And License Agreements
Collaborations And License Agreements (Details)
Common Stock
Common Stock (Details)
Hercules Loan Facility
Hercules Loan Facility (Tables)
Hercules Loan Facility - Additional Information (Details)
Hercules Loan Facility - Future Minimum Payments Under Loans Payable (Details)
Legal Proceedings
Organization
Organization (Details)
Other Accrued Liabilities
Other Accrued Liabilities (Details)
Other Accrued Liabilities (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Schedule Of Collaborative Revenues Under Collaboration Agreement (Details)
Significant Accounting Policies - Schedule Of Inventory (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 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)

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: 0001628280-22-021160
Submitted to the SEC: Thu Aug 04 2022 5:31:05 PM EST
Accepted by the SEC: Thu Aug 04 2022
Period: Thursday, June 30, 2022
Industry: Pharmaceutical Preparations

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